Someone told me about this crazy non-IBM protocol where you just shoved data into the wires. If it collided with someone else's data - just try again!
Thanks to a good helping of fud, there was no doubt in my mind that this was a rubbish approach that wouldn't scale (though obviously it was pretty handy not having to wire your network into a ring configuration).
Requiring shielded twisted pair cabling? Processor costs (when it mattered) and Ethernet's benefiting massively from cheap switches (when hardware costs had dropped)?
Token ring cost 5-6 times as much, and required a special MAU device (the thing that sat on the ring). Then the actual networked computers had a point to point connection to the MAU. Special cabling, not just twisted pair. IBM charged a lot for anyone else to licence the tech.
Token ring was clever and worked well though - a heavily used 10Mbps token ring network was far faster than the equivalent ethernet network due to no collisions.
Whereas ethernet degraded more gracefully.
(ii) If Token is lost: To deal with such situations, it is the responsibility of Monitor to generate new Token. Monitor will wait for Max Token Return Time and if the token is not received then it will generate a new Token.