My thoughts concerning potentially novel elements of EnronOnline:

1.  The online "making of a market" i.e. the continuous posting of real-time 
prices for both purchases and sales of commodities
2.  The online ability to enter into an energy commodity or commodity 
derivative transaction.
3.  The continuous and frequent updating of prices - including the operation 
of the "Stack Manager" which automates this process in many ways so that the 
system can react more quickly than a person.
4.  EnronOnline uses multiple levels of contractual language - a single line 
"short description" of abbreviated terms identifying the transaction to the 
trader, a long description which defines the abbreviated terms and adds 
additional legal language and general terms and conditions which contain the 
remaining contractual terms and are accepted only once by the counterparty.
5.  The site directs counterparties to different contracts based on the 
counterparty profile containing both credit information and information 
concerning the contracts the counterparty already has in place.
6.  It may be relevant for any or all of the foregoing that the EnronOnline 
system is web-based - i.e. the user does not require any system-specific 
software but just a web browser (and an internet plug-in application)
7.  The Master User account gives the counterparty the ability to set up 
passwords for sub-users for that entity and control the access and trading 
authority of various password holders.
8.  Each user can create customized screens showing only those products in 
which he or she is interested.
9.  The system provides for the submission of offers to transact by 
counterparties which are automatically accepted or rejected by the system 
based on pre-established criteria resulting in binding contracts.

Mark Taylor


   
	Enron North America Corp.
	
	From:  Mark E Haedicke                           04/18/2000 04:52 PM
	

To: Travis McCullough/HOU/ECT@ECT, Sborgman@velaw.com, Mark Taylor/HOU/ECT@ECT
cc:  
Subject: Business Methods on Paper.com


Based on earlier conversations, I have identified the following business 
methods that may be novel from a patent point of view:

1.   our site is offering "prime" paper rather than seconds or ends
2.   credit risk is managed by the site (credit intermediation) without cost 
to customers
3.   customers can access financial derivatives on paper to manage price risk 
on physical paper products
4.   customers have access to financial derivatives to manage price risk on 
prime offerings

Please give me your comments on this so we plan our strategy.

Mark Haedicke