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Goldman Sachs Opens Patent Submission for GSTrUE
Tuesday, September 18, 2007
New York, NY -- The Goldman Sachs Group, Inc. (NYSE: GS) announced that it will open its patent filing for its technology platform for privately offered securities, including Goldman Sachs Tradable Unregistered Equity (GSTrUE). The patent submission, filed earlier in the year, will be available for public comment under the U.S. Patent Office's new peer-to-patent pilot program which invites technical and peer participation in the patent process.
"The peer-review pilot is an important step in improving patent quality and engaging industry and technical expertise in an open review model," said John Squires, Goldman Sachs' Chief Intellectual Property Counsel.
"While we believe it is good business practice to protect the intellectual property of this technology, we also believe an industry-wide solution is ultimately best for investors and issuers," said Rob Pace, Managing Director, Goldman, Sachs & Co. "This patent would serve to protect the technology of an industry solution."
GSTrUE is a multiple market maker platform for privately offered securities under Rule144A of the Securities Act of 1933. Goldman Sachs this year has completed offerings for Oaktree Capital Management LLC and Apollo Management Group; the latter conducted as a multiple broker transaction along with two other participating brokers.
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
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