The 'Robin Hood' patent and initiative: A process and system to harvest late payment surcharges for the benefit of the world

A non profit patent and process has been created to enable governments and groups of governments to automatically collect by proxy, corporate late payment surcharges, keep a percentage in the form of a new taxation while at the same time provide substantial funding to worthy causes. This page is a starting point to information describing how this system could work.

Front page of patent
    • US Patent 6,052,674 was filed on 24th December 1997, granted on April 18, 2000.


  • A CIP (extension to the patent) itemising a new way to collect an alternative type of government taxation was filed with the US Patent Office in 1999.
Detail of patent


"The Andronicos first and last theorem on economics" states -


"Automatically levying, harvesting and enforcing a late payment surcharge on electronic invoices will act as a trigger to substantially increase the quality of floating security available to lenders, which in turn will create liquidity to SMEs, create jobs, increase wealth and provide for a new species of corporate taxation that will subsidise the taxation payable by individuals, whilst at the same time benefiting charities and NGOs."

Such a surcharge could be used to eliminate national or global poverty. A by-product of the system would be to create a very secure Debenture security to allow smaller businesses to borrow money to create jobs, which in turn would create taxation and stimulate local economies further.

A personal note about late payment

The last few years have been interesting. I have noted that the vast majority of late payments made to companies I have either run, managed or owned have always been by large public companies. The worst culprits are banks and certain credit/charge card organisations and other financial institutions who routinely levy and back date all sorts of penalties when they get paid late.

By being paid on time, certain problems I have experienced in business over the last few years would have been resolved and I certainly could have ensured, excluding disputed "debts" of course, that all my personal and corporate creditors in turn were also paid on time. Unfortunately this was not always the case.

Do you have constructive suggestions?

If you would like to comment on this issue, feel free to email me, stating your background.

I especially want to hear from experts on economics, charities and NGOs who could benefit from such a scheme.

If you feel this blueprint could work and would like national governments to start a think tank, fill it with your ideas by writing to MPs, Congress Persons, the UN and charities, with a reference of "Robin Hood late payment harvesting to help the world" on the envelope, letter and/or email. Please send me the email copy!

Please review the following links which explain the process:

    1. Satirical UK "Budget Speech" (Simply written as an overview)
    1. "Robin Hood" brief presentation (Seriously written to describe the process)

For a simple overview of how the Robin Hood concept could work in practise, refer to the satirically written "Budget Speech"

For a serious overview, refer to the Brief Presentation and Download "The Robin Hood Initiative" as a PDF document (45 colour pages, 814KB)