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The slave-particle representation is a promising method to treat theproperties of exotic strongly correlated systems. We develop a unified approachto describe both the paramagnetic state with possible spin-liquid features andstates with strong long-range or short-range magnetic order. Combining theKotliar-Ruckenstein representation and fractionalized spin-liquid deconfinementpicture, the Mott transition and Hubbard subbands are considered. The spectrumin the insulating state is significantly affected by the presence of the spinonspin-liquid spectrum and a hidden Fermi surface. Presenting a modification ofthe Kotliar-Ruckenstein representation in the spin-wave region, we treat thecase of magnetic order, with special attention being paid to the half-metallicferromagnetic state. The formation of small and large Fermi surfaces for dopedcurrent carriers in the antiferromagnetic state is also discussed.

Hubbard Bands and Exotic States in Doped and Undoped Mott Systems: The Kotliar-Ruckenstein Representation