TYPES OF USERS (summary)

Here is an overview of the different participants found at Schock Market and site features available to those participants:

Public Visitor: Participate in public comments.

Individual Participant: Secure claims in our markets.

Corporate Participant: Secure claims in our markets.

Market Creator: Secure claims in our markets and create markets.

TYPES OF USERS (detail)

Public Visitor  

Public visitors may visit our website and post to the public comments page.

Individual Participant

Individual participants must register at Schock Market.  

Individual participants are assigned a default reserve value.  The reserve value determines the amount of claims a participant may make at Schock Market. (See Reserve Value Assignment below.)

Once registered, the participant may start securing claims at Schock Market.  

Individual participants may participate in exploratory markets.  Individual participants securing claims in exploratory markets pay no fees.

Corporate Participant

Corporate participants must register at Schock Market.  These participants typically represent a corporation, university, or institution.  

Corporate participants are assigned a default reserve value.  The reserve value determines the amount of claims a participant may make at Schock Market. (See Reserve Value Assignment below.)

Once registered, the participant may start securing claims at Schock Market.  

Corporate participants may participate in both exploratory and qualified markets.  Corporate participants participating in exploratory markets pay no fee.

Corporate participants participating in qualified markets  are responsible for paying payouts to exploratory participants, market creators, and Schock Market itself should the corporate participant have a winning bid in the qualified market and that qualified market is later approved and implemented by governing authorities.  (See Fee Details below.)

Market Creator

Market creators may be individuals or corporations.  To become a market creator, an individual or corporation must register at Schock Market and request market creator status on the registration page.  

Registered participants at Schock Market may upgrade their status from participant to market creator at any time.  They may do so by visiting their user profile page.

Market creators enjoy use of the same website features as public visitors and participants, but may also create their own markets.

Market creators may be asked to submit an application that outlines in general terms the type of market(s) they seek to launch. 

Once a market creator’s application has been processed and the market creator is free to start creating claim markets at Schock Market.  

Market creators may not make claims in their own markets.  

Market creators pay a monthly subscription fee.  In addition, market creators are charged a new market fee when launching a new market.

Administrator

An administrator may be a member of the Schock Market staff or may be a third-party contractor authorized to answer questions and manage the functions, features, and daily operations of the Schock Market claim market platform.

Content Identities

When making content posts at Schock Market, users are identified as follows:

Public Visitor:                    Public Visitor

Individual Participant:        First & last name, or chosen alias

Corporate Participant:        Corporation name (first initial, last name; or chosen alias)

Individual Market Creator:  First & last name

Corporate Market Creator:  Corporation name (first initial, last name)

Administrator:                    Schock Market (first initial, last name)

FEE DETAILS

Public Visitor: No charge

Individual Participant: No charge

Corporate Participant: No charge

Market Creator: $10 per month subscription

$100 fee to launch a new market

Additional Fees:

Individual participants typically participate in exploratory markets and pay no fees in those markets.  

Corporate participants typically participate in qualified markets and are subject to proposed payouts should the corporate participant have a winning bid(s) in qualified markets.  These proposed payouts involve payments made to exploratory participants, Schock Market, and possibly others defined in the claim market itself.  

A description of proposed payouts can be found on the Market Detail page for each market.

In some instances, governing authorities will implement a market that reflects, but does not exactly mirror the qualified market results.  In such cases, proposed payouts may be amended to reflect the winning bidders’ individual contribution to the implemented market.

RESERVE VALUE ASSIGNMENT

Schock Market assigns reserve values as follows:

Individual participant:

Default reserve value assigned at registration:         $10,000

Corporate participant:

Default reserve value assigned at registration:         $10,000

Additional reserves may be acquired by purchasing window decals atwww.windowalert.comThese decals help prevent wild birds from striking windows.  

One envelope ($6.95) secures $10,000 in additional funds for your Schock Market account.  The maximum account value for an individual is $5 million.

REVISED RESERVE VALUE, QUALIFIED MARKETS

Some qualified market may require bids in the millions, even billions, of dollars. To participate in such a market, a participant (likely a corporation or institution) will require a reserve value that has been revised upward.

In these situations, qualified participants are allowed to increase their reserve value to an amount equal to 50% of their corporate or institutional balance sheet equity.  

Participants may request a revised reserve value by clicking the Update Financials button found on the My Profile page.  

Note: A revised reserve value assigned to any participant is based upon a financial snapshot that is dated by the time it arrives at Schock Market. A participant’s net worth is an inherently subjective value, one for which it is difficult to obtain complete data, and one subject to fluctuating market values. For these reasons, the revised reserve value assigned to participants at Schock Market will always be inaccurate, to a degree.  Schock Market reserves the right, for any reason whatsoever, to decline a participant’s request for a revised reserve value. 

Each claim market is a proposal.  It is a form of free speech.

Many obstacles stand between this free speech and actual implementation of the market proposal.  Some claim markets may be contrary to existing local, state, or federal laws, making implementation impossible without changes to applicable law.  Schock Market makes no representation as to whether any particular claim market will result in a public/private partnership, tax savings, voter initiative or any changes or outcomes proposed by market creator or participants.  Schock Market cannot guarantee that our market proposals will be implemented or that any payouts will be paid.

All participation is subject to the Market Rules, available here:www.schockmarket.com/marketrules.