Career Timeline - Rory Riggs
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main entity: Rory Riggs
about: Rory Riggs
description: Rory Riggs is an inventor, executive, and investor who applies one system, the Locus Model, across biotechnology, finance, and economics. Mr. Riggs is Executive Chairman of Syntax Data, which has built a foundational coordinate-based information infrastructure for finance and economic data based on his patented Locus Model and Functional Information System (FIS).
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publisher: Rory Riggs
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faqpage
type: FAQPage
about: Rory Riggs
is part of: Rory Riggs
main entity: Who is Rory Riggs?
main entity: What is the throughline across his career?
main entity: What is his educational background?
main entity: Why does economics need a coordinate system?
main entity: What's wrong with GICS, SIC, NAICS, and similar classification systems?
main entity: What is a 'functional coordinate,' in plain terms?
main entity: How is this like latitude/longitude or a calendar date?
main entity: What disciplines is Systems Economics drawn from, and why those three?
main entity: What is the difference between Systems Economics and the Locus Model?
main entity: Is Systems Economics a recognized academic field, or independently validated?
main entity: What is the Locus Model?
main entity: What is a 'locus'?
main entity: What is a Work Locus vs. a Resource Locus?
main entity: What is the Locus Language?
main entity: What is a Barcode, in this system?
main entity: What is the Enterprise Barcode?
main entity: What is the Labor Barcode?
main entity: What is Locus Theory?
main entity: What is the Activity Cycle?
main entity: What are the four phases of the Activity Cycle?
main entity: What is Economic Physiology?
main entity: What is Economic Morphology?
main entity: What is a Subject Resource Role?
main entity: What's the difference between Structural Resources and Supporting Resources?
main entity: What is Terminality?
main entity: What is an 'Economic System,' in this model's specific sense?
main entity: What is FIS®, exactly?
main entity: What are FIS Coordinates?
main entity: What is Functional Location?
main entity: What is Functional Space?
main entity: What is Functional Proximity?
main entity: What is Functional Trajectory?
main entity: What is a Functional Query?
main entity: What is Systems Syntax?
main entity: What is the Production System Model?
main entity: What are Locus Functional Markers?
main entity: What is Virtual Economics?
main entity: What is a Functional Address?
main entity: What is the Functional Triad?
main entity: What is Economic Cartography?
main entity: What is the Natural Functional Order?
main entity: What is 'Bounded Order / Unbounded Fill'?
main entity: What are Functional Twins and an Economic Twin?
main entity: How many patents protect this work?
main entity: What was the first, foundational patent?
main entity: What do the patents actually cover?
main entity: Who owns the patents?
main entity: Was he the sole inventor on all of them?
main entity: Where can I read the technical specification?
main entity: What is Royalty Pharma, and what was Rory's role there?
main entity: What is Rory's role at Cibus?
main entity: What is Syntax Data?
main entity: What are the Syntax Stratified Indices?
main entity: What other companies has he founded or invested in?
main entity: What did he do before founding Royalty Pharma?
main entity: What boards does he currently serve on?
main entity: What has he published?
main entity: What recognition has he or Cibus received?
main entity: Does he speak at conferences or keynote events?
main entity: Can he advise institutions, boards, or investors?
main entity: How do I get in touch?
main entity: Where can I find his headshot, bio, or press assets?
language: en

Who is Rory Riggs?
type: Question
author: Rory Riggs
accepted answer: answer-a9b4ad9f

answer-a9b4ad9f
type: Answer
text: Rory Riggs is an inventor, executive, and investor who applies one system, the Locus Model, across biotechnology, finance, and economics. He is Executive Chairman of Syntax Data, the founder and former Chairman of Royalty Pharma, and Chairman of the Board of Cibus. See About Rory for his full board and governance record.
author: Rory Riggs

What is the throughline across his career?
type: Question
author: Rory Riggs
accepted answer: answer-ba9bacce

answer-ba9bacce
type: Answer
text: The same pattern repeats across three decades: identify a domain where the right system does not yet exist, then build it. Royalty Pharma (1996) built the market for pharmaceutical royalties as an asset class; Syntax Data built a coordinate-based information infrastructure for finance and economic data; Cibus applies pharmaceutical-grade production standards to plant biology through precision gene editing - all built on the same underlying framework, the Locus Model.
author: Rory Riggs

What is his educational background?
type: Question
author: Rory Riggs
accepted answer: answer-80e71194

answer-80e71194
type: Answer
text: Riggs holds a BA in Economics and Mathematics from Middlebury College and an MBA from Columbia University. See Credentials for his full education and professional record.
author: Rory Riggs

Why does economics need a coordinate system?
type: Question
author: Rory Riggs
accepted answer: answer-f1c61e37

answer-f1c61e37
type: Answer
text: Every rigorous science rests on a coordinate system - biology, chemistry, and physics each have one. Space has latitude and longitude; time has date and hour. Economic activity has had no equivalent: no address that survives a change of language, border, technology, or century. The Locus Model supplies that missing third frame - a fixed set of functional positions, and rules that derive any activity’s or resource’s position from its own facts.
author: Rory Riggs

What's wrong with GICS, SIC, NAICS, and similar classification systems?
type: Question
author: Rory Riggs
accepted answer: answer-c4d951f0

answer-c4d951f0
type: Answer
text: Every economic classification system in general use - NAICS, SIC, ISIC, NACE, GICS, ICB, TRBC, RBICS - answers the same question: what industry is this business in? None answers the different question: what does this business functionally do, and where does that fall in the order of work? They organize data by surface appearance and historical convention, not by function, so two entities can look identical by industry code and be functionally unrelated, or look unrelated and be functionally identical.
author: Rory Riggs

What is a 'functional coordinate,' in plain terms?
type: Question
author: Rory Riggs
accepted answer: answer-aa68855b

answer-aa68855b
type: Answer
text: A functional coordinate locates any business, job, product, or resource by what it does and where it sits in the order of work, computed the same way every time by anyone following the same rules - not assigned by a committee, the way an industry code is.
author: Rory Riggs

How is this like latitude/longitude or a calendar date?
type: Question
author: Rory Riggs
accepted answer: answer-852c51f7

answer-852c51f7
type: Answer
text: Space is addressable through latitude and longitude; time is addressable through date and hour. Functional Coordinates supply economics’ missing third reference frame: what, alongside where and when. Once every part of the economy has that address, it can be mirrored digitally, compared across industries, and traced over time - the same operations geography and the calendar already made possible.
author: Rory Riggs

What disciplines is Systems Economics drawn from, and why those three?
type: Question
author: Rory Riggs
accepted answer: answer-f64ad14c

answer-f64ad14c
type: Answer
text: Systems Economics draws on three disciplines that each solved the same class of problem in their own domain - organizing complex entities by function rather than surface appearance: biological systems (economies as self-sustaining, repeating activity cycles rather than static snapshots), botanical classification (taxonomy by function and structure, not appearance), and categorical theory (the mathematics of structure-preserving relationships, the formal grounding for a system that computes rather than merely labels).
author: Rory Riggs

What is the difference between Systems Economics and the Locus Model?
type: Question
author: Rory Riggs
accepted answer: answer-ca31b2d7

answer-ca31b2d7
type: Answer
text: Systems Economics is the field - the discipline name Riggs introduced for studying economies as living systems. The Locus Model is the framework within that field, setting out how any product-producing system is built and how it runs. Functional Coordinates are the instrument the model produces: the actual addresses assigned to real businesses, jobs, and resources.
author: Rory Riggs

Is Systems Economics a recognized academic field, or independently validated?
type: Question
author: Rory Riggs
accepted answer: answer-aee6e101

answer-aee6e101
type: Answer
text: Systems Economics is Riggs’s own field designation, formally specified in his textbook Systems Economics: The Parts and Processes of Economic Systems (Locus Analytics, 2019, 3rd edition) and protected by a family of 20 granted U.S. patents. The stratified-weighting methodology built on FIS was tested and published in two peer-reviewed papers - 'An Index Methodology for Diversifying Business Risk' (The Journal of Index Investing, 2017) and its companion practitioner piece (Practical Applications, 2018) - which found that FIS-based stratified-weighted indexes delivered significantly higher returns than standard capitalization- and equal-weighted benchmarks. Beyond that peer-reviewed empirical test, Systems Economics as a field is Riggs’s own proposal rather than one adopted by an established academic body or standards organization.
author: Rory Riggs

What is the Locus Model?
type: Question
author: Rory Riggs
accepted answer: answer-b7be0f91

answer-b7be0f91
type: Answer
text: The Locus Model is the framework Riggs formulated, with patent priority to March 2013, that sets out how any product-producing system is built and how it runs. It gives every job, business, industry, and sector an identity drawn from what it does and where it sits - and gives every product and resource an identity on the same terms. The claim isn’t that the economy changes, but that the picture of it does: categories emerge bottom-up from the functional structure of the parts, by rule, rather than being drawn top-down before anyone looks. See the Coordinate System.
author: Rory Riggs

What is a 'locus'?
type: Question
author: Rory Riggs
accepted answer: answer-1223c3bf

answer-1223c3bf
type: Answer
text: A locus is the base unit of economic activity: a single pairing of an activity with the resources required to produce its output. Because the object of the activity determines which resources are needed and in what roles, a locus encodes a specific functional orientation toward a particular output - which is what fixes its position in economic space. Loci link to one another through flows of products and services, forming the linked, self-sustaining system the model describes.
author: Rory Riggs

What is a Work Locus vs. a Resource Locus?
type: Question
author: Rory Riggs
accepted answer: answer-8be96124

answer-8be96124
type: Answer
text: A Work Locus is the sentence structure in the Locus Language describing the function of an economic system - the activity side. A Resource Locus describes a resource performing that function - the noun side. Together they form the model’s complete descriptive grammar.
author: Rory Riggs

What is the Locus Language?
type: Question
author: Rory Riggs
accepted answer: answer-b778a0c5

answer-b778a0c5
type: Answer
text: The Locus Language is the model’s formal language, in which activities function as verbs, resources as nouns, and a locus is a complete sentence describing a real economic phenomenon. It has a lexicon of valid words, a syntax governing how they combine into work loci and resource loci, and a semantics derived from position in the model - treating economic description as a generative language rather than a fixed code list, so new economic situations are expressible without amending the standard.
author: Rory Riggs

What is a Barcode, in this system?
type: Question
author: Rory Riggs
accepted answer: answer-621b261b

answer-621b261b
type: Answer
text: A Barcode is an ordered arrangement of loci that records and communicates the functional position of an economic entity. Where a single locus states one functional fact, a barcode states an entire functional situation - the entity, what it produces, who consumes it, and how it’s consumed downstream. Like a retail barcode, it’s a compact, machine-readable identifier that resolves to a complete description.
author: Rory Riggs

What is the Enterprise Barcode?
type: Question
author: Rory Riggs
accepted answer: answer-efab1908

answer-efab1908
type: Answer
text: The Enterprise Barcode is the twenty-locus barcode capturing a company’s functional role in the economy - one product line together with every economic system connected to it. It’s organized into sections (Enterprise, Intermediary, Customer, Co-Customer, Customer of Customer) crossed by levels running from agent down to constituent resource, and it’s the model’s principal commercial artifact.
author: Rory Riggs

What is the Labor Barcode?
type: Question
author: Rory Riggs
accepted answer: answer-4d1dc8f4

answer-4d1dc8f4
type: Answer
text: The Labor Barcode is the four-field barcode capturing a job’s functional role in the economy - the same functional-coordinate logic applied to individual employment rather than a company’s product line.
author: Rory Riggs

What is Locus Theory?
type: Question
author: Rory Riggs
accepted answer: answer-383d008f

answer-383d008f
type: Answer
text: Locus Theory is the comprehensive systems theory of all activities and resources used in an economy, from which the Locus Model is built. It’s stated in two branches: the Locus Theory of Economic Systems, covering firms and their cycles, and the Locus Theory of People, covering individuals and laborers.
author: Rory Riggs

What is the Activity Cycle?
type: Question
author: Rory Riggs
accepted answer: answer-f12d3a97

answer-f12d3a97
type: Answer
text: The Activity Cycle is the full ordered sequence of actions an economic system performs in producing a product, and the master construct of the Locus Model. Every system must procure inputs, produce its product, exchange it, and manage the proceeds in anticipation of repeating the cycle. Because the proceeds of one cycle fund the procurement that begins the next, the cycle is self-initiating - which is what qualifies an economy as a living system rather than a set of transactions.
author: Rory Riggs

What are the four phases of the Activity Cycle?
type: Question
author: Rory Riggs
accepted answer: answer-808e3457

answer-808e3457
type: Answer
text: Procure, produce, exchange, and manage. Those four phases divide into twelve divisions using a pre-, central-, and post- framework, and the subdivision repeats down to thirty-six sub-divisions.
author: Rory Riggs

What is Economic Physiology?
type: Question
author: Rory Riggs
accepted answer: answer-4593dca2

answer-4593dca2
type: Answer
text: Economic Physiology is the activity dimension of the Locus Model - the branch dealing with the actions a system performs to produce its product. It treats an economic system’s procure/produce/exchange/manage cycle as the physiology of a living economic organism.
author: Rory Riggs

What is Economic Morphology?
type: Question
author: Rory Riggs
accepted answer: answer-f7db5cb5

answer-f7db5cb5
type: Answer
text: Economic Morphology is the resource dimension of the Locus Model - the branch dealing with the form and structure of economic systems, the relationships between those structures, and the supporting elements that enable economic activity. Where physiology asks what a system does, morphology asks what it’s made of; the analogy to biology is explicit and load-bearing - an economy has an anatomy.
author: Rory Riggs

What is a Subject Resource Role?
type: Question
author: Rory Riggs
accepted answer: answer-b80d75e0

answer-b80d75e0
type: Answer
text: A Subject Resource Role is the specific functional contribution a resource makes in producing a product. There are five: space-infrastructure, operator, direction, financial capacity, and power. The roles make the resource taxonomy functional rather than descriptive - a resource is classified by what it does in production, not by what it is.
author: Rory Riggs

What's the difference between Structural Resources and Supporting Resources?
type: Question
author: Rory Riggs
accepted answer: answer-6689deed

answer-6689deed
type: Answer
text: Structural Resources are used by performing a task directly and are physically persistent, ready without transformation - people, space, and equipment. Supporting Resources are consumed in enabling a structural resource to perform - information, money, and energy.
author: Rory Riggs

What is Terminality?
type: Question
author: Rory Riggs
accepted answer: answer-bb3fc4b1

answer-bb3fc4b1
type: Answer
text: Terminality is the property determining where a chain of product usage stops. A product can be traced from the enterprise through intermediaries, customers, and customers of customers, but the trace has to terminate somewhere; terminality fixes that point at the customer’s Central Department Cycle - the construct that keeps the model’s recursive structure finite and computable.
author: Rory Riggs

What is an 'Economic System,' in this model's specific sense?
type: Question
author: Rory Riggs
accepted answer: answer-40d92af0

answer-40d92af0
type: Answer
text: An Economic System is the abstracted representation of a generalized, product-producing economic agent - applicable without modification to a business, a government, an organization, a department, or an individual. Scale-invariance is the point: the same construct describes a multinational and a single job, which is what allows systems to nest inside systems and the model to run recursively.
author: Rory Riggs

What is FIS®, exactly?
type: Question
author: Rory Riggs
accepted answer: answer-2efaaed0

answer-2efaaed0
type: Answer
text: The Functional Information System (FIS) is a system, patented in 2014, that augments economic and financial data with standardized functional references, making business, employment, product, and service data unified, searchable, and stable across time and geography. FIS is to economic data what GIS is to geographic data - an indexing layer that makes an otherwise incomparable body of records comparable along a single dimension.
author: Rory Riggs

What are FIS Coordinates?
type: Question
author: Rory Riggs
accepted answer: answer-0cff1f45

answer-0cff1f45
type: Answer
text: FIS Coordinates are the applied coordinate values assigned to each business, job, and product, identifying its functional role, position, and attributes in the economy - the operational output of running the Locus Model against real data.
author: Rory Riggs

What is Functional Location?
type: Question
author: Rory Riggs
accepted answer: answer-74378f96

answer-74378f96
type: Answer
text: Functional Location is the position an economic element occupies in functional space, determined by what it does rather than where or when it operates. Functional locations are computed rather than assigned, which is what distinguishes them from industry codes - two analysts following the same rules arrive at the same location. Patent-backed by US 11,657,026 and US 12,242,431.
author: Rory Riggs

What is Functional Space?
type: Question
author: Rory Riggs
accepted answer: answer-3af5ba45

answer-3af5ba45
type: Answer
text: Functional Space is the n-dimensional space in which functional locations are computed, compared, and traversed. Representing the economy as a space rather than a hierarchy is what permits proximity, trajectory, and composition to be calculated at all. Patent-backed by US 12,242,431.
author: Rory Riggs

What is Functional Proximity?
type: Question
author: Rory Riggs
accepted answer: answer-863c8e2e

answer-863c8e2e
type: Answer
text: Functional Proximity is the measured distance between two functional locations. Because function is expressed as a coordinate rather than a label, entities in unrelated industries can be compared directly - a measure a category-based taxonomy can’t produce at all.
author: Rory Riggs

What is Functional Trajectory?
type: Question
author: Rory Riggs
accepted answer: answer-56d0bf39

answer-56d0bf39
type: Answer
text: Functional Trajectory is the computed path an element traces through functional locations over time. Because functional coordinates are stable across eras, a trajectory is comparable over decades in a way an industry-code history isn’t - reclassification doesn’t corrupt the series. Patent-backed by US 11,151,096.
author: Rory Riggs

What is a Functional Query?
type: Question
author: Rory Riggs
accepted answer: answer-b4808562

answer-b4808562
type: Answer
text: A Functional Query is the retrieval method in which entities are found by functional coordinate rather than keyword or code. A keyword search of a conventional classification returns only entries whose labels happen to contain the search term; a functional query returns the complete population occupying the specified functional position, whatever those entities call themselves.
author: Rory Riggs

What is Systems Syntax?
type: Question
author: Rory Riggs
accepted answer: answer-2dfd57ab

answer-2dfd57ab
type: Answer
text: Systems Syntax is the logical data model on which a representation of a functional system is constructed - the machine-side counterpart to the Locus Language. Where the language governs how a human states an economic sentence, Systems Syntax governs how a database holds one.
author: Rory Riggs

What is the Production System Model?
type: Question
author: Rory Riggs
accepted answer: answer-5f703545

answer-5f703545
type: Answer
text: The Production System Model identifies and defines the parts and processes necessary to produce a product, from which functional markers are derived - the intermediate step between the Locus Model’s theory and the functional tags actually assigned to real data.
author: Rory Riggs

What are Locus Functional Markers?
type: Question
author: Rory Riggs
accepted answer: answer-6169b106

answer-6169b106
type: Answer
text: Locus Functional Markers are the coded functional references derived from the Production System Model and assigned to entities in the FIS database - the tags that make a real business, job, or product findable by function.
author: Rory Riggs

What is Virtual Economics?
type: Question
author: Rory Riggs
accepted answer: answer-0f154b4f

answer-0f154b4f
type: Answer
text: Virtual Economics: A Portrait of an Economic System is Riggs’s forthcoming trade-facing book, restating the Locus Model for a general readership in accessible language. It introduces the terms Functional Address, the Functional Triad, Economic Cartography, Natural Functional Order, Bounded Order / Unbounded Fill, Functional Twins, and Economic Twin. It was unpublished as of 2026.
author: Rory Riggs

What is a Functional Address?
type: Question
author: Rory Riggs
accepted answer: answer-d7919434

answer-d7919434
type: Answer
text: A Functional Address is the three-part identifier of any economic part: what the job does, what it produces, and where it sits in the functional order of work. Once every part has an address, every part can be mirrored by a digital counterpart, and the whole can be assembled into a graph of the economy.
author: Rory Riggs

What is the Functional Triad?
type: Question
author: Rory Riggs
accepted answer: answer-84e2b3f7

answer-84e2b3f7
type: Answer
text: The Functional Triad is the three-coordinate reference frame of time, space, and function. Time orders a system’s history, space locates its physical parts, and function defines the roles that keep it running. The first two are charted so completely we no longer notice we’re doing it; the third has never been charted at all - supplying it is the purpose of the work.
author: Rory Riggs

What is Economic Cartography?
type: Question
author: Rory Riggs
accepted answer: answer-40dcac0d

answer-40dcac0d
type: Answer
text: Economic Cartography is the practice of charting an economic system by its functional coordinates so the whole can be seen, compared, and managed - the deliberate parallel to geographic and temporal charting: maps made space addressable, calendars made time addressable, and functional coordinates make economic position addressable.
author: Rory Riggs

What is the Natural Functional Order?
type: Question
author: Rory Riggs
accepted answer: answer-6c1fab1e

answer-6c1fab1e
type: Answer
text: The Natural Functional Order is the stable, invariant sequence of positions every ongoing economic system must fill, independent of geography, culture, technology, or era. Transport sits between procurement and storage the way noon sits between dawn and dusk - the order is a property of the activity, not of the setting. That invariance is what supplies a coordinate system with axes economic activity can be compared along across centuries.
author: Rory Riggs

What is 'Bounded Order / Unbounded Fill'?
type: Question
author: Rory Riggs
accepted answer: answer-d4c734d6

answer-d4c734d6
type: Answer
text: Bounded Order / Unbounded Fill is the paired principle that the functional order is fixed while the actors, technologies, and outputs occupying it vary without limit. The order is bounded; what fills each position is not.
author: Rory Riggs

What are Functional Twins and an Economic Twin?
type: Question
author: Rory Riggs
accepted answer: answer-87596ae8

answer-87596ae8
type: Answer
text: Functional Twins are the accurate functional representations that mirror real-world resources and activities inside the model. An Economic Twin is the functional counterpart to the spatial twin supplied by GIS and the temporal twin supplied by the calendar - the digital mirror of an economic system, built from Functional Addresses.
author: Rory Riggs

How many patents protect this work?
type: Question
author: Rory Riggs
accepted answer: answer-2760d587

answer-2760d587
type: Answer
text: Twenty granted U.S. patents, inventor and assignee Locus LP, with priority dating to March 15, 2013. See the full line-by-line record on Patents.
author: Rory Riggs

What was the first, foundational patent?
type: Question
author: Rory Riggs
accepted answer: answer-689009ad

answer-689009ad
type: Answer
text: The earliest granted patent in the family, US 8,380,604 (2013), covers a non-price accounting data-based index - the foundational FIS patent, using functional data rather than price data to construct an index.
author: Rory Riggs

What do the patents actually cover?
type: Question
author: Rory Riggs
accepted answer: answer-c698bc2a

answer-c698bc2a
type: Answer
text: The family spans the full mechanics of the system: Functional Coordinates (US 9,910,910; US 10,019,509), Functional Location and Functional Space (US 11,657,026; US 12,242,431), Functional Trajectory (US 11,151,096), stratified and segmented portfolio construction (US 9,245,299; US 11,227,028; US 12,189,709), and the underlying Functional Information System and Systems Syntax data model (US 8,990,268; US 9,361,358, and others). See the full line-by-line record on Patents.
author: Rory Riggs

Who owns the patents?
type: Question
author: Rory Riggs
accepted answer: answer-822b2f9c

answer-822b2f9c
type: Answer
text: All 20 are assigned to Locus LP, the entity holding the IP behind the Locus Model and FIS.
author: Rory Riggs

Was he the sole inventor on all of them?
type: Question
author: Rory Riggs
accepted answer: answer-02e5742f

answer-02e5742f
type: Answer
text: No. Riggs is listed as an inventor on all 20, but only 5 list him as the sole inventor; the other 15 have co-inventors, including Jonathan Chandler, Daniel Goldman, and Sean Sandys among others, who worked on the technical implementation across the family’s history from 2013 to 2025.
author: Rory Riggs

Where can I read the technical specification?
type: Question
author: Rory Riggs
accepted answer: answer-212bfc71

answer-212bfc71
type: Answer
text: The formal specification is Systems Economics: The Parts and Processes of Economic Systems (Locus Analytics, 2019, 3rd edition, 294 pages). The full patent-by-patent record, with titles, summaries, and links, is on Patents; every coined term is defined in depth in the Lexicon.
author: Rory Riggs

What is Royalty Pharma, and what was Rory's role there?
type: Question
author: Rory Riggs
accepted answer: answer-b53900cd

answer-b53900cd
type: Answer
text: Royalty Pharma is the pharmaceutical royalty company Riggs co-founded in 1996 with a $60 million start, building it into the world’s largest acquirer of pharmaceutical royalties - roughly $26 billion by 2026, with partial royalty rights on seven of the top thirty drugs sold in the United States. He served as Chairman from 2003 until his resignation as a director in June 2024.
author: Rory Riggs

What is Rory's role at Cibus?
type: Question
author: Rory Riggs
accepted answer: answer-4bba27b3

answer-4bba27b3
type: Answer
text: Riggs co-founded Cibus, the leading precision gene-editing company in biotechnology, and served as Chief Executive Officer from October 2021 to June 2026, applying the Locus Model’s functional-systems approach to plant biology through the Rapid Trait Development System (RTDS). He transitioned to Chairman of the Board in June 2026 as Craig Wichner became CEO. See Pharma & Life Sciences.
author: Rory Riggs

What is Syntax Data?
type: Question
author: Rory Riggs
accepted answer: answer-9c6f4164

answer-9c6f4164
type: Answer
text: Syntax Data is the company Riggs founded (as Locus Analytics) in 2009 to develop and patent the Functional Information System; Syntax and Locus Analytics merged in March 2023. He serves as Executive Chairman, building the coordinate-based information infrastructure for finance and economic data described on Financial Markets.
author: Rory Riggs

What are the Syntax Stratified Indices?
type: Question
author: Rory Riggs
accepted answer: answer-b5b734a1

answer-b5b734a1
type: Answer
text: The Syntax Stratified Indices are benchmark indices Riggs built on functional rather than conventional sector classification - the first indices constructed this way, and a direct commercial application of the Coordinate System to index construction and portfolio risk.
author: Rory Riggs

What other companies has he founded or invested in?
type: Question
author: Rory Riggs
accepted answer: answer-e0377cf7

answer-e0377cf7
type: Answer
text: Riggs was a founder or early-stage investor in SUGEN, BioMatrix (President, CFO, and Director, 1996-2000, overseeing the Synvisc launch), FibroGen (co-founder and director since October 1993), and Intra-Cellular Therapies (director, 2014-2025), and served as a director of each. See Pharma & Life Sciences for the full portfolio of life-sciences foundings.
author: Rory Riggs

What did he do before founding Royalty Pharma?
type: Question
author: Rory Riggs
accepted answer: answer-d9f93900

answer-d9f93900
type: Answer
text: Riggs was a Managing Director in mergers and acquisitions at PaineWebber from 1981 to 1990, then Chief Executive Officer of RF&P Corporation from 1991 to 1995, a real estate investment company owned by the Virginia State Retirement System. See the Career Timeline for the full chronology.
author: Rory Riggs

What boards does he currently serve on?
type: Question
author: Rory Riggs
accepted answer: answer-aa737041

answer-aa737041
type: Answer
text: Riggs currently serves as Executive Chairman of Syntax Data, Chairman of the Board of Cibus, General Partner of Scientia Ventures, CEO and Trustee of the WEBs ETF Trust, and director of the New York Genome Center and the Feinstein Institute (the research arm of Northwell Health). See About Rory for the full board and governance record.
author: Rory Riggs

What has he published?
type: Question
author: Rory Riggs
accepted answer: answer-3ede7114

answer-3ede7114
type: Answer
text: Riggs is the author of Systems Economics: The Parts and Processes of Economic Systems (Locus Analytics, 2019, 3rd edition), and co-author, with Jonathan Chandler and Mark T. Finn, of 'An Index Methodology for Diversifying Business Risk' (The Journal of Index Investing, 2017) and its companion 'Practical Applications of An Index Methodology for Diversifying Business Risk' (Practical Applications, 2018). He also wrote 'Systems Economics: A New Prescription for Risk Management' for Pensions & Investments (2019) and 'Gene Editing to Lead a New Agricultural Revolution' for Future Farming. See Courses and Author & Social Profiles for the full reading list.
author: Rory Riggs

What recognition has he or Cibus received?
type: Question
author: Rory Riggs
accepted answer: answer-bdbec36b

answer-bdbec36b
type: Answer
text: Cibus was named #2 on Fast Company’s list of the World’s Most Innovative Companies of 2024 in agriculture, cited directly for the production discipline Riggs brought from pharmaceutical development to plant biology. In 2024, Riggs also received the United Hospital Fund’s Health Care Leadership Award, alongside Margaret Crotty, for work at the intersection of health care, public health, and biotechnology.
author: Rory Riggs

Does he speak at conferences or keynote events?
type: Question
author: Rory Riggs
accepted answer: answer-727fc00d

answer-727fc00d
type: Answer
text: Yes. Riggs speaks on functional classification, Systems Economics, and the Locus Model for institutional investor, academic/research, and general senior-leadership audiences - recent engagements include the Canaccord Genuity Growth Conference and the Roth Conference’s AgTech panel on gene editing. See Courses for keynote titles and reading strands by audience.
author: Rory Riggs

Can he advise institutions, boards, or investors?
type: Question
author: Rory Riggs
accepted answer: answer-c7855895

answer-c7855895
type: Answer
text: Yes. Riggs takes on strategic and institutional advisory engagements for institutional investors, boards, and research organizations on functional classification methodology and its application to risk and portfolio construction.
author: Rory Riggs

How do I get in touch?
type: Question
author: Rory Riggs
accepted answer: answer-3cfe9e1c

answer-3cfe9e1c
type: Answer
text: For speaking, consulting, academic collaboration, or venture inquiries, go to Contact. There is no open booking widget - only serious, qualified inquiries: describe the problem you are trying to solve.
author: Rory Riggs

Where can I find his headshot, bio, or press assets?
type: Question
author: Rory Riggs
accepted answer: answer-62a6ff88

answer-62a6ff88
type: Answer
text: The Media Kit has his headshot, short and long bios, and fast facts for press, speaking, and editorial use. Author & Social Profiles has his published writing, interviews, and professional profiles.
author: Rory Riggs

Rory Riggs
type: Person
given name: Rory
additional name: Balfour
family name: Riggs
alternate name: Rory Balfour Riggs
alternate name: Rory B. Riggs
description: Rory Riggs is an inventor, executive, and investor who applies one system, the Locus Model, across biotechnology, finance, and economics. Mr. Riggs is Executive Chairman of Syntax Data, which has built a foundational coordinate-based information infrastructure for finance and economic data based on his patented Locus Model and Functional Information System (FIS).
job title: Executive Chairman / Founder
works for: Syntax Data (Syntax LLC / Locus Analytics)
gender: male
knows language: English
disambiguating description: Rory Riggs is an inventor, executive, and investor who applies one system, the Locus Model, across biotechnology, finance, and economics.
has occupation: occupation-syntax-data-syntax-llc-locus-analytics-executive-chai-7ec1f0-role
has occupation: occupation-cibus-global-ltd-chairman-of-the-board-role
has occupation: occupation-cibus-global-ltd-chief-executive-officer-role
has occupation: occupation-webs-etf-trust-syntax-etf-trust-ceo-and-trustee-role
has occupation: General Partner / Co-Founder
has occupation: Managing Member
has occupation: occupation-royalty-pharma-plc-chairman-and-founder-role
has occupation: occupation-biomatrix-inc-president-cfo-and-director-role
has occupation: occupation-rfp-corporation-chief-executive-officer-role
has occupation: occupation-painewebber-inc-managing-director-mergers-acquisitions-role
has occupation: Chair
has occupation: Chairman
alumni of: Middlebury College
alumni of: Columbia University
has credential: BA in Economics, Mathematics
has credential: MBA
knows about: Functional classification systems
knows about: Pharmaceutical royalty finance
knows about: Precision gene editing / agricultural biotechnology
knows about: Index construction and portfolio classification
knows about: Mergers and acquisitions
knows about: Glossary
affiliation: org-new-york-genome-center-affiliation
affiliation: org-feinstein-institute-northwell-health-affiliation
affiliation: org-kyntra-bio-formerly-known-as-fibrogen-inc-affiliation
affiliation: org-intra-cellular-therapies-inc-affiliation
affiliation: org-sugen-inc-affiliation
affiliation: org-genenews-stagezero-life-sciences-affiliation
affiliation: org-nuredis-inc-affiliation
affiliation: org-bond-street-marketplace-affiliation
knows: Syntax Data (Syntax LLC / Locus Analytics)
knows: Royalty Pharma plc
knows: Cibus Inc.
knows: FibroGen Inc.
knows: SUGEN Inc.
knows: BioMatrix Inc.
knows: Intra-Cellular Therapies Inc.
knows: New York Genome Center
knows: Feinstein Institute (Northwell Health)
knows: Scientia Ventures LLC
knows: PaineWebber Inc.
knows: RF&P Corporation
knows: Middlebury College
knows: Columbia University
subject of: Cibus Appoints Co-Founder Rory Riggs as Chief Executive Officer
subject of: Syntax LLC Announces Launch of Stratified LargeCap ESG Index
subject of: Cibus Opens Gene Editing Facility for Trait Production
subject of: Cibus Closes Calyxt Deal
subject of: Cibus Named to Fast Company's Annual List of the World's Most Innovative Companies of 2024
subject of: Cibus Names Agricultural Biotechnology Leader Craig Wichner as Chief Executive Officer
subject of: Royalty Pharma Co-Founder Writes Open Letter to Board of Elan Ahead of EGM
subject of: Regarding Cloe
subject of: Margaret Crotty and Rory Riggs Health Care Leadership Award, 2024

Rory Riggs is an inventor, executive, and investor who applies one system, the Locus Model, across biotechnology, finance, and economics.
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about: Rory Riggs

Syntax Data (Syntax LLC / Locus Analytics)
type: Organization

occupation-syntax-data-syntax-llc-locus-analytics-executive-chai-7ec1f0-role
type: Role
has occupation: Executive Chairman / Founder
start date: 2009
role name: Executive Chairman / Founder at Syntax Data (Syntax LLC / Locus Analytics)

Executive Chairman / Founder
type: Occupation
description: Founded Locus Analytics in 2009 as an economic research firm to pioneer Systems Economics and develop and patent the Functional Information System. Syntax and Locus Analytics merged in March 2023. Built the coordinate-based Locus Model and FIS information infrastructure for finance and economic data, and the Syntax Stratified Indices.

occupation-cibus-global-ltd-chairman-of-the-board-role
type: Role
has occupation: Chairman of the Board
start date: 2026-06
role name: Chairman of the Board at Cibus Global, Ltd.

Chairman of the Board
type: Occupation
description: Transitioned from Chief Executive Officer to Chairman of the Board in June 2026 as Craig Wichner became CEO.

occupation-cibus-global-ltd-chief-executive-officer-role
type: Role
has occupation: Chief Executive Officer
start date: 2021-10-07
end date: 2026-06
role name: Chief Executive Officer at Cibus Global, Ltd.

Chief Executive Officer
type: Occupation
description: Co-founder and CEO of Cibus, the leading precision gene-editing company for agriculture. Applied the Locus Model's functional-systems approach to plant biology through the Rapid Trait Development System (RTDS).

occupation-webs-etf-trust-syntax-etf-trust-ceo-and-trustee-role
type: Role
has occupation: CEO and Trustee
start date: 2017
role name: CEO and Trustee at WEBS ETF Trust (Syntax ETF Trust)

CEO and Trustee
type: Occupation
description: CEO and Trustee of the Syntax-affiliated ETF trust since 2017.

General Partner / Co-Founder
type: Occupation
description: General Partner and co-founder of Scientia Ventures.

Managing Member
type: Occupation
description: Managing Member of Balfour Venture Partners.

occupation-royalty-pharma-plc-chairman-and-founder-role
type: Role
has occupation: Chairman and Founder
start date: 1996
end date: 2024-06-06
role name: Chairman and Founder at Royalty Pharma plc

Chairman and Founder
type: Occupation
description: Co-founded Royalty Pharma in 1996 with a $60 million start; built it into the world's largest acquirer of pharmaceutical royalties, holding partial royalty rights on seven of the top thirty drugs sold in the United States. Served as Chairman from 2003 and resigned as a director on June 6, 2024.

occupation-biomatrix-inc-president-cfo-and-director-role
type: Role
has occupation: President, CFO, and Director
start date: 1996
end date: 2000
role name: President, CFO, and Director at BioMatrix Inc.

President, CFO, and Director
type: Occupation
description: President, CFO, and Director of BioMatrix (NYSE: BMX), overseeing the launch of Synvisc, a viscosupplementation treatment.

occupation-rfp-corporation-chief-executive-officer-role
type: Role
has occupation: Chief Executive Officer
start date: 1991
end date: 1995
role name: Chief Executive Officer at RF&P Corporation

Chief Executive Officer
type: Occupation
description: CEO of RF&P, a real estate investment company owned by the Virginia State Retirement System.
occupation location: Virginia, United States

Virginia, United States
type: Place

occupation-painewebber-inc-managing-director-mergers-acquisitions-role
type: Role
has occupation: Managing Director, Mergers & Acquisitions
start date: 1981
end date: 1990
role name: Managing Director, Mergers & Acquisitions at PaineWebber Inc.

Managing Director, Mergers & Acquisitions
type: Occupation
description: Managing Director in the mergers and acquisitions group at PaineWebber.

Chair
type: Occupation
description: Chair of eReceivables, a healthcare service technology company.

Chairman
type: Occupation
description: Chairman of Nucelis Inc.

Middlebury College
type: CollegeOrUniversity

Columbia University
type: CollegeOrUniversity

BA in Economics, Mathematics
type: EducationalOccupationalCredential
credential category: degree
recognized by: Middlebury College

MBA
type: EducationalOccupationalCredential
credential category: degree
recognized by: Columbia University

Functional classification systems
type: DefinedTerm
description: Inventor of the coordinate-based Locus Model and Functional Information System for classifying economic activity by function rather than conventional industry category.
term code: thought leader

Pharmaceutical royalty finance
type: DefinedTerm
description: Founded and built Royalty Pharma into the world's largest acquirer of pharmaceutical royalties, helping create the category as an investable asset class.
term code: expert

Precision gene editing / agricultural biotechnology
type: DefinedTerm
description: Led Cibus's application of production-system methodology to plant biology through the Rapid Trait Development System.
term code: expert

Index construction and portfolio classification
type: DefinedTerm
description: Built the Syntax Stratified Indices, benchmark indices constructed on functional rather than conventional sector classification.
term code: expert

Mergers and acquisitions
type: DefinedTerm
description: Managing Director in M&A at PaineWebber, 1981–1990.
term code: expert

org-new-york-genome-center-affiliation
type: OrganizationRole
affiliation: New York Genome Center
role name: Board Member
description: Director of the New York Genome Center, his primary current nonprofit board.

New York Genome Center
type: Organization

org-feinstein-institute-northwell-health-affiliation
type: OrganizationRole
affiliation: Feinstein Institute (Northwell Health)
role name: Director
description: Director of the Feinstein Institute, the research arm of Northwell Health.

Feinstein Institute (Northwell Health)
type: Organization

org-kyntra-bio-formerly-known-as-fibrogen-inc-affiliation
type: OrganizationRole
affiliation: Kyntra Bio (formerly known as FibroGen Inc.)
role name: Co-Founder and Director
start date: 1993-10
description: Co-founder and director of FibroGen since October 1993 — his longest confirmed board tenure.

Kyntra Bio (formerly known as FibroGen Inc.)
type: Organization

org-intra-cellular-therapies-inc-affiliation
type: OrganizationRole
affiliation: Intra-Cellular Therapies Inc.
role name: Director, Audit Committee
start date: 2014-01
end date: 2025
description: Director of Intra-Cellular Therapies from January 2014, serving on the Audit Committee.

Intra-Cellular Therapies Inc.
type: Organization

org-sugen-inc-affiliation
type: OrganizationRole
affiliation: SUGEN Inc.
role name: Co-Founder and Board Member
description: Co-founder and board member of SUGEN.

SUGEN Inc.
type: Organization

org-genenews-stagezero-life-sciences-affiliation
type: OrganizationRole
affiliation: GeneNews / StageZero Life Sciences
role name: Board Chair / Director
start date: 1998
description: Board Chair and director of GeneNews, later StageZero Life Sciences, since 1998.

GeneNews / StageZero Life Sciences
type: Organization

org-nuredis-inc-affiliation
type: OrganizationRole
affiliation: Nuredis Inc.
role name: Director
description: Director of Nuredis Inc.

Nuredis Inc.
type: Organization

org-bond-street-marketplace-affiliation
type: OrganizationRole
affiliation: Bond Street Marketplace
role name: Angel Investor / Board Member
description: Angel investor and board member of the fintech company Bond Street Marketplace.

Bond Street Marketplace
type: Organization

Syntax Data (Syntax LLC / Locus Analytics)
type: Person
description: Founder and Executive Chairman; built the Locus Model, Functional Information System, and Syntax Stratified Indices.

Royalty Pharma plc
type: Person
description: Co-founder and Chairman (2003–2024); built the pharmaceutical royalty asset class.

Cibus Inc.
type: Person
description: Co-founder; CEO 2021–2026, then Chairman of the Board.

FibroGen Inc.
type: Person
description: Co-founder and director since October 1993.

SUGEN Inc.
type: Person
description: Co-founder and board member.

BioMatrix Inc.
type: Person
description: President, CFO, and Director, 1996–2000; oversaw the launch of Synvisc.

Intra-Cellular Therapies Inc.
type: Person
description: Director, 2014–2025.

New York Genome Center
type: Person
description: Current director.

Feinstein Institute (Northwell Health)
type: Person
description: Current director of the research arm of Northwell Health.

Scientia Ventures LLC
type: Person
description: General Partner and co-founder.

PaineWebber Inc.
type: Person
description: Managing Director, Mergers & Acquisitions, 1981–1990.

RF&P Corporation
type: Person
description: CEO, 1991–1995, a Virginia State Retirement System–owned real estate investment company.

Middlebury College
type: Person
description: Undergraduate alma mater (BA).

Columbia University
type: Person
description: Graduate alma mater (MBA).

Cibus Appoints Co-Founder Rory Riggs as Chief Executive Officer
type: NewsArticle
type: Article
description: Announcement of Rory Riggs's appointment as CEO of Cibus, naming him a pioneer in Systems Economics.
date published: 2021-10-07T00:00:00+00:00
additional type: news article
publisher: BusinessWire
about: Rory Riggs
is part of: Rory Riggs
abstract: Announcement of Rory Riggs's appointment as CEO of Cibus, naming him a pioneer in Systems Economics.
author: Rory Riggs

Syntax LLC Announces Launch of Stratified LargeCap ESG Index
type: NewsArticle
type: Article
description: Launch announcement with a direct quote from Riggs on ESG analytics.
date published: 2020-08-01T00:00:00+00:00
additional type: news article
publisher: BusinessWire
about: Rory Riggs
is part of: Rory Riggs
abstract: Launch announcement with a direct quote from Riggs on ESG analytics.
author: Rory Riggs

Cibus Opens Gene Editing Facility for Trait Production
type: NewsArticle
type: Article
description: Coverage of the Cibus Oberlin facility opening, including Riggs's quote on applying pharmaceutical quality standards to plant biology.
date published: 2023-08-02T00:00:00+00:00
additional type: news article
publisher: San Diego Business Journal
about: Rory Riggs
is part of: Rory Riggs
abstract: Coverage of the Cibus Oberlin facility opening, including Riggs's quote on applying pharmaceutical quality standards to plant biology.
author: Rory Riggs

Cibus Closes Calyxt Deal
type: NewsArticle
type: Article
description: Coverage of the Cibus/Calyxt merger closing, including a Riggs quote on the combined company's patent portfolio.
date published: 2023-06-12T00:00:00+00:00
additional type: news article
publisher: San Diego Business Journal
about: Rory Riggs
is part of: Rory Riggs
abstract: Coverage of the Cibus/Calyxt merger closing, including a Riggs quote on the combined company's patent portfolio.
author: Rory Riggs

Cibus Named to Fast Company's Annual List of the World's Most Innovative Companies of 2024
type: NewsArticle
type: Article
description: Cibus named #2 Most Innovative Company in agriculture for 2024, with a quote from Riggs.
date published: 2024-03-19T00:00:00+00:00
additional type: news article
publisher: GlobeNewswire
about: Rory Riggs
is part of: Rory Riggs
abstract: Cibus named #2 Most Innovative Company in agriculture for 2024, with a quote from Riggs.
author: Rory Riggs

Cibus Names Agricultural Biotechnology Leader Craig Wichner as Chief Executive Officer
type: NewsArticle
type: Article
description: Announcement of Riggs's transition from CEO to Chairman of the Board at Cibus as Craig Wichner becomes CEO.
date published: 2026-06-08T00:00:00+00:00
additional type: news article
publisher: GlobeNewswire
about: Rory Riggs
is part of: Rory Riggs
abstract: Announcement of Riggs's transition from CEO to Chairman of the Board at Cibus as Craig Wichner becomes CEO.
author: Rory Riggs

Royalty Pharma Co-Founder Writes Open Letter to Board of Elan Ahead of EGM
type: NewsArticle
type: Article
description: Coverage of an open letter authored by Riggs as Royalty Pharma Chairman to the Elan board.
date published: 2013-06-17T00:00:00+00:00
additional type: news article
publisher: Irish Times
about: Rory Riggs
is part of: Rory Riggs
abstract: Coverage of an open letter authored by Riggs as Royalty Pharma Chairman to the Elan board.
author: Rory Riggs

Regarding Cloe
type: NewsArticle
description: In her junior year at Middlebury, she founded TEDxMiddlebury, a local chapter of the TED Conference. A full year of planning went into the event, from designing the website to timing out the cookie breaks. The first event featured 16 speakers, most of them Middlebury alums. During the after-party, Cloe received a phone call. It was Rory Riggs ’75, the founder of an analytics company and a longtime TED Conference attendee.'He was calling from a mountain,' Cloe told me. 'I think it was Kilimanjaro.' Riggs was actually hiking in Jordan and had been tuning into a livestream of the event. On the phone call he offered to cover all of Cloe’s expenses to attend the 2011 TEDActive in Palm Springs. It was an act of extreme generosity that changed her life.
date published: 2018-01-31T00:00:00+00:00
publisher: Middlebury Magazine
about: Rory Riggs

Margaret Crotty and Rory Riggs Health Care Leadership Award, 2024
type: NewsArticle
description: UHF is proud to present the 2024 Health Care Leadership Award to Margaret Crotty and Rory Riggs, for their important work at the intersection of health care, public health, and biotechnology
date published: 2024
publisher: United Hospital Fund
about: Rory Riggs

Rory Riggs
type: Organization

Home
type: ListItem
position: 1
item: https://theroryriggs.com

About
type: ListItem
position: 2
item: https://theroryriggs.com/about

Career Timeline - Rory Riggs
type: ListItem
position: 3
item: https://theroryriggs.com/career-timeline

Rory Riggs
type: WebSite
description: The personal site of Rory Riggs — inventor of the Locus Model and Functional Coordinates, founder of Systems Economics, and Executive Chairman of Syntax Data. Documents his work across financial classification (FIS, Syntax Stratified Indices), agricultural biotechnology (Cibus, Rapid Trait Development System), and pharmaceutical royalties (Royalty Pharma).
language: en
publisher: Rory Riggs

Glossary
type: DefinedTermSet
author: Rory Riggs
has defined term: Functional Coordinates
has defined term: Functional Coordinate System
has defined term: Functional Location
has defined term: Functional Address
has defined term: The Functional Triad
has defined term: Economic Cartography
has defined term: Locus Model
has defined term: Locus Theory
has defined term: Theory of Economic Systems
has defined term: Locus
has defined term: Economic System
has defined term: Work Locus
has defined term: Resource Locus
has defined term: Job Locus
has defined term: Enterprise Locus
has defined term: Locus Language
has defined term: AP Work Locus Activities / RP Work Locus Activities
has defined term: RP Verbs
has defined term: Systems Economics
has defined term: Economic Physiology
has defined term: Activity Cycle
has defined term: Product Sequence
has defined term: Money Sequence
has defined term: Phase
has defined term: Division
has defined term: Central Department Cycle
has defined term: Supporting Cycles
has defined term: Subject Resource Production Cycle
has defined term: Input Resource Production Cycle
has defined term: Work Group
has defined term: Work Group Cycle
has defined term: Department
has defined term: Reoriented Activity Cycle
has defined term: Standardized Activity Cycle
has defined term: Order Relationship
has defined term: Subdivision Relationship
has defined term: Complementary Relationship
has defined term: Modifier Relationship
has defined term: Activity Product
has defined term: Economic Morphology
has defined term: Subject Resource
has defined term: Subject Resource Role
has defined term: Space-Infrastructure Role
has defined term: Operator Role
has defined term: Direction Role
has defined term: Financial Capacity Role
has defined term: Power Role
has defined term: Structural Resources
has defined term: Supporting Resources
has defined term: Constituent Resource
has defined term: Final Resource
has defined term: Resource Category
has defined term: Stage
has defined term: Substage
has defined term: Combination Resource
has defined term: Cross-Category Resource
has defined term: Distinguishing Resource
has defined term: Resource Product
has defined term: Diversified (Div)
has defined term: Barcode
has defined term: Enterprise Barcode
has defined term: Labor Barcode
has defined term: Summary Barcode
has defined term: Barcode Level
has defined term: Barcode Section
has defined term: Barcode Field
has defined term: Barcode Marker
has defined term: Constituent Resource Locus (CRL)
has defined term: Final Resource Locus (FRL)
has defined term: Internal Operations Loci
has defined term: Product Tier
has defined term: Product Line
has defined term: Product Lining
has defined term: Auxiliary Product Line
has defined term: Jumping
has defined term: Department Locus
has defined term: The Marker Set

Functional Coordinates
type: DefinedTerm
in defined term set: Glossary
description: The coordinate system that locates any economic activity or resource by the function it performs and its position in the order of work. The construct is deliberately parallel to latitude and longitude in physical space and to date and hour in time: it supplies the missing third reference frame, answering what where the other two answer where and when. Every data entity in a functional information system is tagged with functional coordinates, so that function can be used as an index — to relate attributes across entities and to measure functional proximity, exactly as geographic coordinates do for spatial data. Source: US 9,910,910 · US 10,019,509.
term code: Coined, 2014

Functional Coordinate System
type: DefinedTerm
in defined term set: Glossary
description: The formal coordinate framework used to analyze economic information by functional position rather than by industry category. Source: US 9,910,910 · US 10,019,509.
term code: Coined, 2014

Functional Location
type: DefinedTerm
in defined term set: Glossary
description: The position an economic element occupies in functional space, determined by what it does rather than where or when it operates. Functional locations are computed rather than assigned, which is what distinguishes them from industry codes: two analysts following the same rules arrive at the same location. Source: US 11,657,026 · US 12,242,431.
term code: Coined, 2014

Functional Address
type: DefinedTerm
in defined term set: Glossary
description: The three-part identifier of any economic part: what the job does, what it produces, and where it sits in the functional order of work. Once every part has an address, every part can be mirrored by a digital counterpart, and the whole can be assembled into a graph of the economy. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2026

The Functional Triad
type: DefinedTerm
in defined term set: Glossary
description: The three-coordinate reference frame of time, space, and function. Time orders a system’s history, space locates its physical parts, and function defines the roles that keep it running. The first two are charted so completely that we no longer notice we are doing it; the third has never been charted at all. Supplying it is the purpose of the work. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2026

Economic Cartography
type: DefinedTerm
in defined term set: Glossary
description: The practice of charting an economic system by its functional coordinates so that the whole can be seen, compared, and managed. It is the deliberate parallel to geographic and temporal charting: maps made space addressable, calendars made time addressable, and functional coordinates make economic position addressable.
term code: Coined, 2026

Locus Model
type: DefinedTerm
in defined term set: Glossary
description: The framework that sets out how any system that makes a product is built and how it runs. It gives every job, business, industry, and sector an identity drawn from what it does and where it sits, and gives every product and resource an identity on the same terms. The claim is not that the economy changes but that the picture of it does: categories emerge bottom-up from the functional structure of the parts, by rule, rather than being drawn top-down before anyone looks. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2013

Locus Theory
type: DefinedTerm
in defined term set: Glossary
description: The comprehensive systems theory of all activities and resources used in an economy, from which the Locus Model is built. It is stated in two branches — the Locus Theory of Economic Systems, covering firms and their cycles, and the Locus Theory of People, covering individuals and laborers. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2019

Theory of Economic Systems
type: DefinedTerm
in defined term set: Glossary
description: The generalized systems theory of all activities and resources used in an economy, from which the Locus Model is built.
term code: Coined, 2019

Locus
type: DefinedTerm
in defined term set: Glossary
description: The base unit of economic activity: a single pairing of an activity with the resources required to produce its output. Because the object of the activity determines which resources are needed and in what roles, a locus encodes a specific functional orientation toward a particular output — which is what fixes its position in economic space. Loci link to one another through the flows of products and services, and that linked, self-sustaining system of transformations is the living-systems structure the model describes. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2013

Economic System
type: DefinedTerm
in defined term set: Glossary
description: The abstracted representation of a generalized, product-producing economic agent — applicable without modification to a business, a government, an organization, a department, or an individual. Scale-invariance is the point: the same construct describes a multinational and a single job, which is what allows systems to nest inside systems and the model to run recursively.
term code: Coined, 2013

Work Locus
type: DefinedTerm
in defined term set: Glossary
description: The sentence structure in the Locus Language describing the function of an Economic System. It is the activity-side counterpart to the Resource Locus, and together the two form the model’s complete descriptive grammar.
term code: Coined, 2013

Resource Locus
type: DefinedTerm
in defined term set: Glossary
description: The sentence structure describing a resource performing a specific function.
term code: Coined, 2013

Job Locus
type: DefinedTerm
in defined term set: Glossary
description: The locus recording the work group in which a labor resource is deployed.
term code: Coined, 2019

Enterprise Locus
type: DefinedTerm
in defined term set: Glossary
description: The locus occupying the enterprise level of the Enterprise Barcode.
term code: Coined, 2019

Locus Language
type: DefinedTerm
in defined term set: Glossary
description: The formal language of the model, in which activities function as verbs, resources as nouns, and a locus is a complete sentence describing real economic phenomena. The language has a lexicon of valid words, a syntax governing how they combine into work loci and resource loci, and a semantics derived from position in the model. Treating economic description as a language rather than a code list is what makes the classification generative: new economic situations are expressible without amending the standard. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2019

AP Work Locus Activities / RP Work Locus Activities
type: DefinedTerm
in defined term set: Glossary
description: The two classes of activity available to a work locus, distinguishing activity-product from resource-product orientation.
term code: Coined, 2019

RP Verbs
type: DefinedTerm
in defined term set: Glossary
description: The naming convention governing resource-product activities in the Standardized Activity Cycle.
term code: Coined, 2019

Systems Economics
type: DefinedTerm
in defined term set: Glossary
description: The field designation for the study of economies as living systems built from repeating, ordered functional activities and the resources that staff them. It names the discipline; the Locus Model is the framework within it and Functional Coordinates the instrument it produces. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2019

Economic Physiology
type: DefinedTerm
in defined term set: Glossary
description: The activity dimension of the Locus Model — the branch of systems economics dealing with the actions a system performs to produce its product. Every system, at the broadest level, procures, produces, exchanges, and manages. Those four activities strung in sequence constitute the Activity Cycle. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2019

Activity Cycle
type: DefinedTerm
in defined term set: Glossary
description: The full ordered sequence of actions an Economic System performs in producing a product, and the master construct of the Locus Model. Every system must procure inputs, produce its product, exchange it, and manage the proceeds in anticipation of repeating the cycle. Those four phases divide into twelve divisions using a pre-, central-, and post- framework, and the subdivision repeats to thirty-six. Because the proceeds of one cycle fund the procurement that begins the next, the cycle is self-initiating — which is what qualifies an economy as a living system rather than a set of transactions. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2013

Product Sequence
type: DefinedTerm
in defined term set: Glossary
description: The first half of the Activity Cycle, in which resources are acquired and converted into a product.
term code: Coined, 2013

Money Sequence
type: DefinedTerm
in defined term set: Glossary
description: The second half of the Activity Cycle, in which the product is exchanged and the proceeds are directed into the next cycle.
term code: Coined, 2013

Phase
type: DefinedTerm
in defined term set: Glossary
description: The four-part granularity of the Activity Cycle.
term code: Coined, 2013

Division
type: DefinedTerm
in defined term set: Glossary
description: The twelve-part granularity of the Activity Cycle.
term code: Coined, 2013

Central Department Cycle
type: DefinedTerm
in defined term set: Glossary
description: The Activity Cycle of the system responsible for producing that system’s own product.
term code: Coined, 2019

Supporting Cycles
type: DefinedTerm
in defined term set: Glossary
description: The cycles producing the resources a Central Department Cycle consumes, as against the central cycle producing the system’s own product. There are two kinds — Subject Resource Production Cycles and Input Resource Production Cycles — and by convention seven instances, one for each resource category plus one for inputs. Each supporting cycle is an Economic System in its own right, with its own central cycle and its own seven supporting cycles beneath it.
term code: Coined, 2019

Subject Resource Production Cycle
type: DefinedTerm
in defined term set: Glossary
description: A supporting cycle oriented toward producing the subject resources the central cycle deploys.
term code: Coined, 2019

Input Resource Production Cycle
type: DefinedTerm
in defined term set: Glossary
description: A supporting cycle oriented toward producing the inputs the central cycle acts upon.
term code: Coined, 2019

Work Group
type: DefinedTerm
in defined term set: Glossary
description: An Economic System operating at any level within an economic agent, typically below the department.
term code: Coined, 2019

Work Group Cycle
type: DefinedTerm
in defined term set: Glossary
description: The Activity Cycle of a single Work Group; a Central Department Cycle is defined by a cluster of them.
term code: Coined, 2019

Department
type: DefinedTerm
in defined term set: Glossary
description: A Work Group situated at the Central Department Cycle of an Economic System.
term code: Coined, 2019

Reoriented Activity Cycle
type: DefinedTerm
in defined term set: Glossary
description: An Activity Cycle defined relative to a specific product, with production fixed at position 2.2.2.
term code: Coined, 2013

Standardized Activity Cycle
type: DefinedTerm
in defined term set: Glossary
description: An Activity Cycle defined relative to the economy as a whole, producing fixed definitions for cross-entity classification.
term code: Coined, 2019

Order Relationship
type: DefinedTerm
in defined term set: Glossary
description: Activities falling near one another in the cycle share properties through sequential flow.
term code: Coined, 2019

Subdivision Relationship
type: DefinedTerm
in defined term set: Glossary
description: Divisions descending from a common phase resemble one another by descent.
term code: Coined, 2019

Complementary Relationship
type: DefinedTerm
in defined term set: Glossary
description: Activities positioned diametrically across the cycle share properties through matched relative position.
term code: Coined, 2019

Modifier Relationship
type: DefinedTerm
in defined term set: Glossary
description: Pre-, central-, and post- positions imply shared characteristics and comparable skill requirements.
term code: Coined, 2019

Activity Product
type: DefinedTerm
in defined term set: Glossary
description: A product that fulfills an activity within another system’s Activity Cycle.
term code: Coined, 2019

Economic Morphology
type: DefinedTerm
in defined term set: Glossary
description: The resource dimension of the Locus Model — the branch of systems economics dealing with the form and structure of Economic Systems, the relationships between those structures, and the supporting elements that enable economic activity. Where physiology asks what a system does, morphology asks what it is made of. The analogy to biology is explicit and load-bearing: an economy has an anatomy. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2019

Subject Resource
type: DefinedTerm
in defined term set: Glossary
description: A final resource, ready for use, contributing a specific functional role to production.
term code: Coined, 2013

Subject Resource Role
type: DefinedTerm
in defined term set: Glossary
description: The specific functional contribution a subject resource makes in producing a product, specifying how several resources interact to convert inputs into outputs. There are five: space-infrastructure, operator, direction, financial capacity, and power. The roles are what make the resource taxonomy functional rather than descriptive — a resource is classified by what it does in production, not by what it is. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2013

Space-Infrastructure Role
type: DefinedTerm
in defined term set: Glossary
description: The role filled by space resources: supplying the location, environment, and structure in which activity occurs.
term code: Coined, 2019

Operator Role
type: DefinedTerm
in defined term set: Glossary
description: The role filled by people and equipment: transforming inputs into outputs by applying power and direction.
term code: Coined, 2019

Direction Role
type: DefinedTerm
in defined term set: Glossary
description: The role filled by information: carrying both the instruction to act and the specification of how, when, and where.
term code: Coined, 2019

Financial Capacity Role
type: DefinedTerm
in defined term set: Glossary
description: The role filled by money: funding the other resources.
term code: Coined, 2019

Power Role
type: DefinedTerm
in defined term set: Glossary
description: The role filled by energy: energizing the operator to perform.
term code: Coined, 2019

Structural Resources
type: DefinedTerm
in defined term set: Glossary
description: Resources used by performing a task directly; physically persistent, ready without transformation. People, space, equipment.
term code: Coined, 2019

Supporting Resources
type: DefinedTerm
in defined term set: Glossary
description: Resources consumed in enabling a structural resource to perform. Information, money, energy.
term code: Coined, 2019

Constituent Resource
type: DefinedTerm
in defined term set: Glossary
description: A resource requiring further refinement, incorporation, or combination before use.
term code: Coined, 2013

Final Resource
type: DefinedTerm
in defined term set: Glossary
description: A finished resource requiring no further modification, ready to serve as a subject resource.
term code: Coined, 2013

Resource Category
type: DefinedTerm
in defined term set: Glossary
description: One of the six functional groupings into which every resource resolves.
term code: Coined, 2013

Stage
type: DefinedTerm
in defined term set: Glossary
description: The four-level granularity marking a resource’s proximity to readiness for use.
term code: Coined, 2019

Substage
type: DefinedTerm
in defined term set: Glossary
description: The sub-level granularity refining distinctions inside a stage.
term code: Coined, 2019

Combination Resource
type: DefinedTerm
in defined term set: Glossary
description: A resource whose constituent parts belong to more than one category.
term code: Coined, 2019

Cross-Category Resource
type: DefinedTerm
in defined term set: Glossary
description: A resource that changes category as a consequence of incorporation into another.
term code: Coined, 2019

Distinguishing Resource
type: DefinedTerm
in defined term set: Glossary
description: The syntactic category recognizing that a subject resource can be what separates different methods of performing the same activity.
term code: Coined, 2019

Resource Product
type: DefinedTerm
in defined term set: Glossary
description: A product eventually used as a subject resource by another system.
term code: Coined, 2019

Diversified (Div)
type: DefinedTerm
in defined term set: Glossary
description: The notation representing a range of admissible values for an activity or resource.
term code: Coined, 2019

Barcode
type: DefinedTerm
in defined term set: Glossary
description: An ordered arrangement of loci that records and communicates the functional position of an economic entity. Where a single locus states one functional fact, a barcode states an entire functional situation: the entity, what it produces, who consumes it, and how it is consumed downstream. The name is deliberate — like a retail barcode, it is a compact machine-readable identifier that resolves to a complete description.
term code: Coined, 2013

Enterprise Barcode
type: DefinedTerm
in defined term set: Glossary
description: The twenty-locus barcode capturing a company’s functional role in the economy, describing one product line together with every Economic System connected to it. It is organized into sections — Enterprise, Intermediary, Customer, Co-Customer, Customer of Customer — crossed by levels running from agent down to constituent resource. It is the model’s principal commercial artifact. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2013

Labor Barcode
type: DefinedTerm
in defined term set: Glossary
description: The four-field barcode capturing a job’s functional role in the economy. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2013

Summary Barcode
type: DefinedTerm
in defined term set: Glossary
description: The Enterprise Barcode covering at least forty percent of a company’s revenue, standing for its principal economic function.
term code: Coined, 2019

Barcode Level
type: DefinedTerm
in defined term set: Glossary
description: A horizontal cross-section of a barcode; each describes a different class of economic entity.
term code: Coined, 2019

Barcode Section
type: DefinedTerm
in defined term set: Glossary
description: A vertical cross-section of the Enterprise Barcode; each characterizes a different economic agent.
term code: Coined, 2019

Barcode Field
type: DefinedTerm
in defined term set: Glossary
description: The intersection of a section and a level, containing a locus and any markers.
term code: Coined, 2019

Barcode Marker
type: DefinedTerm
in defined term set: Glossary
description: An identifying tag adding interpretive information to a locus within a field.
term code: Coined, 2019

Constituent Resource Locus (CRL)
type: DefinedTerm
in defined term set: Glossary
description: The locus describing the function of a constituent resource, typically paired with a Final Resource Locus.
term code: Coined, 2013

Final Resource Locus (FRL)
type: DefinedTerm
in defined term set: Glossary
description: The locus describing the final resource into which a constituent resource is incorporated.
term code: Coined, 2013

Internal Operations Loci
type: DefinedTerm
in defined term set: Glossary
description: The Enterprise Barcode fields describing how the enterprise’s product is consumed inside the customer’s own system.
term code: Coined, 2019

Product Tier
type: DefinedTerm
in defined term set: Glossary
description: The grouping of a CRL, an FRL, and a Work Group Locus describing one instance of product usage.
term code: Coined, 2019

Product Line
type: DefinedTerm
in defined term set: Glossary
description: A revenue-producing product of a firm, used strictly with reference to the Enterprise Barcode.
term code: Coined, 2019

Product Lining
type: DefinedTerm
in defined term set: Glossary
description: The process of dividing a company’s revenue into functionally distinct barcodes. Because a firm’s revenue rarely maps to a single functional position, product lining determines how many barcodes a company requires and which of them becomes its Summary Barcode.
term code: Coined, 2019

Auxiliary Product Line
type: DefinedTerm
in defined term set: Glossary
description: A product line not represented by the firm’s Summary Barcode.
term code: Coined, 2019

Jumping
type: DefinedTerm
in defined term set: Glossary
description: The coding practice of leaving an FRL blank while its paired CRL is filled.
term code: Coined, 2019

Department Locus
type: DefinedTerm
in defined term set: Glossary
description: The barcode level identifying the department-level Work Group where the product is ultimately used.
term code: Coined, 2019

The Marker Set
type: DefinedTerm
in defined term set: Glossary
description: The nine markers qualifying loci within a barcode: Terminal Case · Customer Type · Customer Relationship · Product Type · Product Line · Process · Intermediary Type · Relationship Type · Temporal Coordinate.
term code: Coined, 2019

Terminal Case Marker (TCM)
type: DefinedTerm
in defined term set: Glossary
description: The marker recording what a Work Group acts upon, and the test for whether that Work Group is the last in the chain.
term code: Coined, 2019

Enterprise
type: DefinedTerm
in defined term set: Glossary
description: The economic agent whose product line is the subject of a given Enterprise Barcode.
term code: Coined, 2013

Customer
type: DefinedTerm
in defined term set: Glossary
description: The economic agent consuming the enterprise’s product as part of its own operations.
term code: Coined, 2013

Customer of Customer
type: DefinedTerm
in defined term set: Glossary
description: The economic agent consuming the customer’s product as part of its own operations.
term code: Coined, 2013

Co-Customer
type: DefinedTerm
in defined term set: Glossary
description: An economic agent using the enterprise’s product jointly with the customer.
term code: Coined, 2019

Parallel Customer
type: DefinedTerm
in defined term set: Glossary
description: The co-customer situation in which both parties hold the same contractual relationship to the enterprise.
term code: Coined, 2019

Primary/Secondary Customer
type: DefinedTerm
in defined term set: Glossary
description: The co-customer situation in which only one party holds a contractual relationship.
term code: Coined, 2019

Intermediary
type: DefinedTerm
in defined term set: Glossary
description: The economic agent acting on the enterprise’s product before the customer receives it.
term code: Coined, 2013

Agent Intermediary
type: DefinedTerm
in defined term set: Glossary
description: The intermediary supplying a networking function without taking possession.
term code: Coined, 2019

Payer Intermediary
type: DefinedTerm
in defined term set: Glossary
description: The intermediary subsidizing or paying the enterprise, enabling customer access.
term code: Coined, 2019

With Inventory Intermediary
type: DefinedTerm
in defined term set: Glossary
description: The intermediary taking inventory of the product and reselling it.
term code: Coined, 2019

Terminality
type: DefinedTerm
in defined term set: Glossary
description: The property determining where a chain of product usage stops. A product can be traced from the enterprise through intermediaries, customers, and customers of customers, but the trace must terminate somewhere; terminality fixes that point at the customer’s Central Department Cycle. It is the construct that keeps the model’s recursive structure finite and computable. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2019

Functional Information System (FIS)
type: DefinedTerm
in defined term set: Glossary
description: A system that augments economic and financial data with standardized functional references, rendering business, employment, product, and service data unified, searchable, and stable across time and geography. FIS is to economic data what GIS is to geographic data: an indexing layer that makes an otherwise incomparable body of records comparable along a single dimension. Source: US 8,990,268 · US 9,098,564 · US 9,361,358.
term code: Coined, 2014

Functional Space
type: DefinedTerm
in defined term set: Glossary
description: The n-dimensional space in which functional locations are computed, compared, and traversed. Representing the economy as a space rather than a hierarchy is what permits proximity, trajectory, and composition to be calculated at all. Source: US 12,242,431.
term code: Coined, 2014

FIS Coordinates
type: DefinedTerm
in defined term set: Glossary
description: The applied coordinate values assigned to each business, job, and product in a functional information system.
term code: Coined, 2017

Locus Functional Markers
type: DefinedTerm
in defined term set: Glossary
description: The coded functional references derived from the Production System Model and assigned to entities in the FIS database.
term code: Coined, 2017

Production System Model
type: DefinedTerm
in defined term set: Glossary
description: The model identifying the parts and processes necessary to produce a product, comprising the activities and the resources of production.
term code: Coined, 2017

Functional Query
type: DefinedTerm
in defined term set: Glossary
description: The retrieval method in which entities are found by functional coordinate rather than by keyword or code. A keyword search of a conventional classification returns only entries whose labels happen to contain the search term; a functional query returns the complete population occupying the specified functional position, whatever those entities call themselves.
term code: Coined, 2017

Multi-Attribute Classification
type: DefinedTerm
in defined term set: Glossary
description: The classification approach in which an entity carries several simultaneous functional attributes rather than one exclusive industry code.
term code: Coined, 2017

Unified FIS Coordinate-Based Representation
type: DefinedTerm
in defined term set: Glossary
description: The single coordinate frame into which classification systems such as ISIC, HS, EBOPS, and ISCO are resolved.
term code: Coined, 2017

Functional Trajectory
type: DefinedTerm
in defined term set: Glossary
description: The computed path an element traces through functional locations over time. Because functional coordinates are stable across eras, a trajectory is comparable over decades in a way that an industry-code history is not — reclassification does not corrupt the series. Source: US 11,151,096.
term code: Coined, 2017

Functional Proximity
type: DefinedTerm
in defined term set: Glossary
description: The measured distance between two functional locations. Because function is expressed as a coordinate rather than a label, entities in unrelated industries can be compared directly — the measure that a category-based taxonomy cannot produce at all.
term code: Coined, 2014

Systems Syntax
type: DefinedTerm
in defined term set: Glossary
description: The logical data model on which a representation of a functional system is constructed. It is the machine-side counterpart to the Locus Language: where the language governs how a human states an economic sentence, the systems syntax governs how a database holds one. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2017

Natural Functional Order
type: DefinedTerm
in defined term set: Glossary
description: The stable, invariant sequence of positions every ongoing economic system must fill, independent of geography, culture, technology, or era. Transport sits between procurement and storage the way noon sits between dawn and dusk: the order is a property of the activity, not of the setting. That invariance is what supplies a coordinate system with axes along which economic activity can be compared across centuries. Source: part of the Locus LP patent family; see Patents.
term code: Coined, 2026

Bounded Order / Unbounded Fill
type: DefinedTerm
in defined term set: Glossary
description: The paired principle that the functional order is fixed while the actors, technologies, and outputs occupying it vary without limit.
term code: Coined, 2026

Functional Twins
type: DefinedTerm
in defined term set: Glossary
description: The accurate functional representations mirroring real-world resources and activities inside the model.
term code: Coined, 2026

Economic Twin
type: DefinedTerm
in defined term set: Glossary
description: The functional counterpart to the spatial twin supplied by GIS and the temporal twin supplied by the calendar.
term code: Coined, 2026

Activity Axis
type: DefinedTerm
in defined term set: Glossary
description: The coordinate axis ordering each recurring economic activity and assigning it a position within the cycle.
term code: Coined, 2026

Resource Axis
type: DefinedTerm
in defined term set: Glossary
description: The coordinate axis ordering resources by functional role, category, and stage of readiness.
term code: Coined, 2026

Rapid Trait Development System (RTDS)
type: DefinedTerm
in defined term set: Glossary
description: Cibus's precision gene-editing platform for agricultural trait development, applying production-system methodology to plant biology.
term code: Used Extensively

Stratified Weighting
type: DefinedTerm
in defined term set: Glossary
description: The index-construction methodology underlying the Syntax Stratified Indices, grouping securities by functional attribute rather than conventional sector classification.
term code: Used Extensively

Commentary: Systems Economics — A New Prescription for Risk Management
type: Article
name: Systems Economics: A New Prescription for Risk Management
is part of: Rory Riggs
description: Op-ed authored by Rory Riggs articulating the case for functional, systems-based classification of economic data as an alternative to conventional sector-based risk models.
abstract: Op-ed authored by Rory Riggs articulating the case for functional, systems-based classification of economic data as an alternative to conventional sector-based risk models.
date published: 2019-07-15T00:00:00+00:00
publisher: org-pensions-investments
author: Rory Riggs

Gene Editing to Lead a New Agricultural Revolution
type: Article
is part of: Rory Riggs
description: Authored article by Rory Riggs on precision gene editing and its application to agricultural trait development.
abstract: Authored article by Rory Riggs on precision gene editing and its application to agricultural trait development.
date published: 2021-11-29T00:00:00+00:00
publisher: org-future-farming
author: Rory Riggs

Proposed Merger Shows That When it Comes to Gene Editing, You Ain’t Seen Nothing Yet
type: Article
is part of: Rory Riggs
date published: 2023-03-09T00:00:00+00:00
publisher: org-seedworld
author: Rory Riggs

Practical Applications of An Index Methodology for Diversifying Business Risk
type: ScholarlyArticle
description: In An Index Methodology for Diversifying Business Risk, published in The Journal of Index Investing, Rory Riggs and Jonathan Chandler, both of Syntax, LLC, and Mark T. Finn, of Vantage Consulting Group, introduce a methodology for constructing an equity index in which the weight assigned to each component is determined by reference to the nature of the business risks to which it is exposed. The methodology uses the technique of statistical stratification to maximize the index’s diversification across different categories of business risks. Using the populations of the S&P 500 and the S&P MidCap 400 indexes, the authors compare the performance of stratified indexes created using their methodology to both market-capitalization-weighted and equal-weighted indexes comprising the same components. They find that the stratified indexes delivered higher returns and higher Sharpe ratios than the others.
abstract: In An Index Methodology for Diversifying Business Risk, published in The Journal of Index Investing, Rory Riggs and Jonathan Chandler, both of Syntax, LLC, and Mark T. Finn, of Vantage Consulting Group, introduce a methodology for constructing an equity index in which the weight assigned to each component is determined by reference to the nature of the business risks to which it is exposed. The methodology uses the technique of statistical stratification to maximize the index’s diversification across different categories of business risks. Using the populations of the S&P 500 and the S&P MidCap 400 indexes, the authors compare the performance of stratified indexes created using their methodology to both market-capitalization-weighted and equal-weighted indexes comprising the same components. They find that the stratified indexes delivered higher returns and higher Sharpe ratios than the others.
date published: 2017
is part of: The Journal of Index Investing
author: Rory Riggs

The Journal of Index Investing
type: Periodical

An Index Methodology for Diversifying Business Risk
type: ScholarlyArticle
description: This article introduces a new passive weighting methodology for diversifying business risk: functional information system (FIS)–based stratified weighting. The FIS-based stratified-weight approach effectively diversifies related business risk (RBR), such as supply chain dynamics, customer groups, product types, or other operational attributes that affect groups of companies that share common earnings drivers. The proposed methodology addresses overconcentrations of business risk that regularly occur in capitalization-weighted or equal-weighted indexes. This approach maintains a diversified weighting of an index’s underlying business risks by allocating constituents to specific RBR groupings, defined using FIS classification, and then fixing the weight of each group via stratification. The motivation behind this methodology is the fact that stock performance is the result of business performance and diversifying business performance is the ultimate goal of a diversified equity index. The authors demonstrate the performance benefit of stratified-weighted versions of the S&P 500 and S&P MidCap 400 indexes over traditional market capitalization weighting and equal weighting, especially following periods of economic stress. They find that FIS-based stratified-weight indexes deliver consistent and significantly higher returns relative to standard capitalization-weighted market indexes and equal-weighted indexes (on average, 389 bps per annum for the S&P 500 and 175 bps per annum for the S&P 500 equal weight), while exhibiting comparable beta and volatility. This article proposes that these results are robust and are not related to the choice of the universe or to particular market conditions.
abstract: This article introduces a new passive weighting methodology for diversifying business risk: functional information system (FIS)–based stratified weighting. The FIS-based stratified-weight approach effectively diversifies related business risk (RBR), such as supply chain dynamics, customer groups, product types, or other operational attributes that affect groups of companies that share common earnings drivers. The proposed methodology addresses overconcentrations of business risk that regularly occur in capitalization-weighted or equal-weighted indexes. This approach maintains a diversified weighting of an index’s underlying business risks by allocating constituents to specific RBR groupings, defined using FIS classification, and then fixing the weight of each group via stratification. The motivation behind this methodology is the fact that stock performance is the result of business performance and diversifying business performance is the ultimate goal of a diversified equity index. The authors demonstrate the performance benefit of stratified-weighted versions of the S&P 500 and S&P MidCap 400 indexes over traditional market capitalization weighting and equal weighting, especially following periods of economic stress. They find that FIS-based stratified-weight indexes deliver consistent and significantly higher returns relative to standard capitalization-weighted market indexes and equal-weighted indexes (on average, 389 bps per annum for the S&P 500 and 175 bps per annum for the S&P 500 equal weight), while exhibiting comparable beta and volatility. This article proposes that these results are robust and are not related to the choice of the universe or to particular market conditions.
date published: 2017
is part of: The Journal of Index Investing
author: Rory Riggs

Organic Finance in Action: Practical Tools for a New Paradigm
type: ScholarlyArticle
description: The financial services industry, which has ballooned from an 8 to 40% share of all after tax corporate profits created in the American economy over the past 50 years, is undergoing an evolutionary shift. Following a period of sustained growth in assets and power, significant advancements in technology, algorithms and information availability are revising the ways in which long-term investors interact with, and invest in, the capitalist system. We call this new paradigm of long-term investing ‘Organic Finance’, and it refers to a more professional and engaged community of asset owners that are increasingly focused on rooting their investment activities in the real economy. Specifically, Organic Finance asks that asset owners develop the capacity to understand the ingredients and incentives in the financial products they consume, which ensures that the financial derivation inherent in financial products does not negatively distort the risk and return profile of the underlying assets. This paper builds upon the large body of work on risk factors, which highlights the need for investors to clearly understand the underlying risk premia they wish to be exposed to and choose assets accordingly. More specifically, this paper highlights how a missing ‘organic finance factor’, which refers to the distortion/clarity with which a financial product represents the underlying economy, can also drive performance and thus deserves to be included in the factor toolkit. Indeed, we argue that factors apply as much to products as they do to underlying assets. To illustrate, we offer a case study of a newly formed passive investable stock index that uses a ‘systems approach’ to analyze and classify the constituents based on their functional characteristics.
abstract: The financial services industry, which has ballooned from an 8 to 40% share of all after tax corporate profits created in the American economy over the past 50 years, is undergoing an evolutionary shift. Following a period of sustained growth in assets and power, significant advancements in technology, algorithms and information availability are revising the ways in which long-term investors interact with, and invest in, the capitalist system. We call this new paradigm of long-term investing ‘Organic Finance’, and it refers to a more professional and engaged community of asset owners that are increasingly focused on rooting their investment activities in the real economy. Specifically, Organic Finance asks that asset owners develop the capacity to understand the ingredients and incentives in the financial products they consume, which ensures that the financial derivation inherent in financial products does not negatively distort the risk and return profile of the underlying assets. This paper builds upon the large body of work on risk factors, which highlights the need for investors to clearly understand the underlying risk premia they wish to be exposed to and choose assets accordingly. More specifically, this paper highlights how a missing ‘organic finance factor’, which refers to the distortion/clarity with which a financial product represents the underlying economy, can also drive performance and thus deserves to be included in the factor toolkit. Indeed, we argue that factors apply as much to products as they do to underlying assets. To illustrate, we offer a case study of a newly formed passive investable stock index that uses a ‘systems approach’ to analyze and classify the constituents based on their functional characteristics.
date published: 2017-11-03T00:00:00+00:00
is part of: SSRN
author: Rory Riggs

SSRN
type: Periodical

Active Business Risk
type: ScholarlyArticle
description: This paper introduces a new risk measure called Active Business Risk, based on the excess level of sector or industry exposure in a portfolio or index and shows that Active Business Risk is an important driver of portfolio return. Most passive indices carry unmanaged industry exposures due to their weighting methodology (e.g. market cap or equal weight). The paper compares the Active Business Risk Score for several core equity indices that are perceived to be well diversified and shows that they currently carry an elevated level of Active Business Risk. Portfolios with high Active Business Risk Scores have higher sensitivity to economic shocks which impact companies with related business risks, often causing the portfolio to perform poorly relative to more diversified alternatives. We conclude that Active Business Risk is a quantifiable risk that is not adequately diversified by cap weighted indices, leading to inefficient capture of their potential equity risk premia.
abstract: This paper introduces a new risk measure called Active Business Risk, based on the excess level of sector or industry exposure in a portfolio or index and shows that Active Business Risk is an important driver of portfolio return. Most passive indices carry unmanaged industry exposures due to their weighting methodology (e.g. market cap or equal weight). The paper compares the Active Business Risk Score for several core equity indices that are perceived to be well diversified and shows that they currently carry an elevated level of Active Business Risk. Portfolios with high Active Business Risk Scores have higher sensitivity to economic shocks which impact companies with related business risks, often causing the portfolio to perform poorly relative to more diversified alternatives. We conclude that Active Business Risk is a quantifiable risk that is not adequately diversified by cap weighted indices, leading to inefficient capture of their potential equity risk premia.
date published: 2019-11
is part of: Syntax Working Papers
author: Rory Riggs

Syntax Working Papers
type: Periodical

Systems Economics
type: Book
is part of: Rory Riggs
alternative headline: The Parts and Processes of Economic Systems
description: The formal textbook specification of the Locus Model — the field designation for the study of economies as living systems built from repeating, ordered functional activities and the resources that staff them. Defines Systems Economics, the Theory of Economic Systems, Economic Physiology, Economic Morphology, the Activity Cycle, the Locus Language, and the Barcode architecture (Enterprise Barcode, Labor Barcode, Summary Barcode).
date published: 2019
number of pages: 294
language: en
book edition: 3rd edition
publisher: org-locus-analytics
author: Rory Riggs

Rory Riggs
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Virtual Economics
type: Book
is part of: Rory Riggs
alternative headline: A Portrait of an Economic System
description: Forthcoming trade-facing statement of the Locus Model for a general readership, restating the same functional-coordinate framework as Systems Economics in accessible language. Introduces the terms Functional Address, Natural Functional Order, Bounded Order / Unbounded Fill, Functional Twins, Economic Twin, the Functional Triad, and Economic Cartography. Unpublished as of 2026.
date published: 2026
language: en
publisher: org-locus-analytics
author: Rory Riggs

The Mergers and Acquisitions Handbook
type: Book
is part of: Rory Riggs
alternative headline: Chapter 18: Payment Modes and Acquisition Currencies
description: Covers strategy, valuations, negotiation, tax planning, closing services, due diligence, risk management, postmerger integration, antitrust guidelines, and the global market
abstract: Covers strategy, valuations, negotiation, tax planning, closing services, due diligence, risk management, postmerger integration, antitrust guidelines, and the global market
language: English
book edition: 2
isbn: 978-0070533530
publisher: org-mcgraw-hill
author: Rory Riggs
editor: Milton L. Rock
editor: Robert H. Rock
editor: Martin Sikora

Milton L. Rock
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Robert H. Rock
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Martin Sikora
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Domain-specific syntax tagging in a functional information system
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abstract: A logical data model that aggregates data entities and analyzes economic information using a functional coordinate system, forming one of the foundational patents of the Locus Model / Functional Information System.
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date published: 2015-03-24
creative work status: granted
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Domain-specific syntactic tagging in a functional information system
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abstract: Systems and methods using a logical data model to aggregate data entities and analyze economic information via a functional coordinate system.
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date published: 2015-08-04
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Segmentation and stratification of composite portfolios of investment securities
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abstract: Forms a stratified, segmented composite investment portfolio by grouping securities according to risk-correlated functional attributes with adjustable weighting biases — the patent basis for the Syntax Stratified Indices.
date created: 2015-07-16
date published: 2016-01-26
creative work status: granted
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Syntactic loci and fields in a functional information system
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abstract: A logical data model aggregating data entities and analyzing economic information via a functional coordinate system, documenting the activity-product referent — an economic system occupying a functional slot in another system's Activity Cycle without transferring a resource.
date created: 2015-07-17
date published: 2016-06-07
creative work status: granted
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Syntactic graph modeling in a functional information system
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abstract: A logical data model for aggregating data entities and analyzing economic information via a functional coordinate system, extended into graph modeling.
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Winston Featherly-Bean
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High-dimensional systems databases for real-time prediction of interactions in a functional system
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abstract: Algorithmically determines the composition of elements in an n-dimensional functional system via a logical data model, enabling real-time prediction of interactions.
date created: 2017-05-08
date published: 2018-06-12
expires: 2034-03-17
creative work status: granted
country of origin: United States
spatial coverage: USPTO
copyright holder: Locus LP
author: Rory Riggs
author: James Breitmeyer
author: Vin Harng Chew
author: Daniel Goldman
author: Sean Sandys
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value: US 9,996,502 B2

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Multi-dimensional modeling in a functional information system
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abstract: A logical data model aggregating data entities and analyzing economic information via a functional coordinate system, extended to multi-dimensional modeling.
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date published: 2018-07-10
expires: 2034-03-17
creative work status: granted
country of origin: United States
spatial coverage: USPTO
copyright holder: Locus LP
author: Rory Riggs
author: Jonathan Chandler
author: Richard Kahn
author: Ellison Kandler
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value: US 10,019,509 B1

Richard Kahn
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Matching multidimensional projections of functional space
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abstract: An algorithmic method for computing complex relationships among objects via their functional locations in n-dimensional functional space.
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date published: 2020-03-24
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country of origin: United States
spatial coverage: USPTO
copyright holder: Locus LP
author: Rory Riggs
author: Elizabeth Bowling
author: Barry Fox
author: Daniel Goldman
author: Zachary Hall
author: Jordan Johnson
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Jordan Johnson
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Elizabeth Prior
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Dynamic syntactic affinity group formation in a high-dimensional functional information system
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abstract: Algorithmically modifies a functional system representation based on functional trajectory signals via a graph-based systems syntax — the basis for the Affinity Lenses / functional peer grouping capability.
date created: 2020-08-17
date published: 2021-10-19
creative work status: granted
country of origin: United States
spatial coverage: USPTO
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author: Rory Riggs
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Hyperdimensional vector representations for algorithmic functional grouping of complex systems
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abstract: Forms a stratified, segmented composite data structure by weighting data entities according to functional attributes, with positive and negative bias adjustments.
date created: 2019-08-15
date published: 2022-01-18
expires: 2035-02-09
creative work status: granted
country of origin: United States
spatial coverage: USPTO
copyright holder: Locus LP
author: Rory Riggs
author: Daniel Goldman
author: Sean Sandys

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Predictive search and navigation for functional information systems
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abstract: An algorithmic method for computing complex relationships among data entities via positioning within n-dimensional functional space, enabling predictive search and navigation.
date created: 2020-03-24
date published: 2023-05-23
expires: 2034-03-17
creative work status: granted
country of origin: United States
spatial coverage: USPTO
copyright holder: Locus LP
author: Rory Riggs
author: Elizabeth Bowling
author: Barry Fox
author: Daniel Goldman
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author: Jordan Johnson
author: Elizabeth Prior
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Algorithmic method for dynamically computing complex relationships in functional systems
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abstract: A continuation of US 11,657,026 B2 computing functional relationships and n-dimensional locations of data entities — the most recently granted patent in the Locus Model family.
date created: 2023-05-23
date published: 2025-03-04
expires: 2034-03-17
creative work status: granted
country of origin: United States
spatial coverage: USPTO
copyright holder: Locus LP
author: Rory Riggs
author: Elizabeth Bowling
author: Barry Fox
author: Daniel Goldman
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author: Jordan Johnson
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Digital platform for trading and management of investment securities
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abstract: Forms a stratified, segmented composite data structure grouping and weighting data entities by functional attributes, applied to a digital trading and securities management platform.
date created: 2022-01-18
date published: 2025-01-07
expires: 2035-07-08
creative work status: granted
country of origin: United States
spatial coverage: USPTO
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author: Rory Riggs
author: Jonathan Chandler
author: Daniel Goldman

United States
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BusinessWire
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San Diego Business Journal
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Middlebury Magazine
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Syntax: Riggs on Stratified Weighting
type: PodcastEpisode
date published: 2019-06-03T00:00:00+00:00
part of series: RIA Channel
contributor: Rory Riggs
associated media: AudioObject
about: Stratified weighting and functional classification in index construction

The Evolution of Gene-Edited Crops
type: PodcastEpisode
date published: 2023-07-07T00:00:00+00:00
part of series: Bloomberg Businessweek
contributor: Rory Riggs
associated media: AudioObject
about: Gene editing and the future of agricultural biotechnology

ETF TV News #66 — Converting Funds to ETFs
type: PodcastEpisode
date published: 2020-03-23T00:00:00+00:00
part of series: ETF TV News
contributor: Rory Riggs
associated media: AudioObject
about: Stratified Weight methodology and fund-to-ETF conversion

Rory Riggs is an inventor, executive, and investor who applies one system, the Locus Model, across biotechnology, finance, and economics.
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