Methods and systems for trading permanent seat licenses

Details Methods and systems for trading permanent seat licenses Methods and systems for trading permanent seat licenses

2006-08-29

2006-08-29

Weisberger, Richard C. (Department: 3624)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S039000

Reexamination Certificate

active

07099841

ABSTRACT:
A method of trading seat licenses over a computer network is provided whereby a seat license is listed for sale by a seller on a seat license exchange hosted by an intermediary, wherein the seat license exchange is conducted through a central computer over the computer network and the seat license is issued by an issuer and has an asking price determined by the seller. At least one bid for the seat license is received over the computer network from the bidder, wherein the bidder offering a first bid for the seat license, that is at least equal to the asking price thereof, is designated as the buyer of the seat license. A trade is thereafter initiated whereby the seat license listing is removed from the seat license exchange and a trade status is established. A title to the seat license is then directed from the seller and received by the intermediary. Concurrently, a remittance at least equal to the first bid is directed from the buyer and received by the intermediary. Upon receiving a final approval of the trade from the issuer, the trade is completed by directing the title to the seat license to the buyer, directing a first portion of the remittance to the intermediary, directing a second portion of the remittance to the seller, and notifying the issuer of the completion of the trade. Associated methods and systems are also provided.

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http://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=permanent+seat+licenses+exchange&btnG=Google+Search.
http://www.shareholder.com/ebay/annual/1999—annual—10K.pdf.

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