Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Patent
1999-03-08
2000-07-04
Teska, Kevin J.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
705 16, 705 26, 705 44, G06F 1300
Patent
active
060851767
ABSTRACT:
A method and apparatus for creating a computerized market for used and collectible goods by use of a plurality of low cost posting terminals and a market maker computer in a legal framework that establishes a bailee relationship and consignment contract with a purchaser of a good at the market maker computer that allows the purchaser to change the price of the good once the purchaser has purchased the good thereby to allow the purchaser to speculate on the price of collectibles in an electronic market for used goods while assuring the safe and trusted physical possession of a good with a vetted bailee.
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MercExchange, LLC
Smith Demetra R.
Teska Kevin J.
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