System that transfers asset ownership using a probabilistic model
First Claim
1. A method for transferring ownership of assets to participants over a network, wherein the participants interface with the network using wired or wireless devices, comprising the steps of:
- issuing redeemable tokens having defined redemption values to one or more participants over the network, wherein each issued redeemable token is associated with a participant;
probabilistically selecting at least one redeemable token, when redemption value of the issued redeemable tokens reaches a collective token value; and
transferring an ownership right to at least one asset to a participant who is associated with a selected redeemable token.
1 Assignment
0 Petitions
Accused Products
Abstract
Briefly, according to the present invention, ownership right in an asset is transferred using a probabilistic model. In one exemplary embodiment, the system and method of the invention implements the probabilistic model by a raffle system that facilitates the transfer of ownership in any asset. An asset can be any valuable item that is owned, including any type of product, good or service. In an exemplary embodiment, the participants interface with the system over a network of interconnected wired or wireless devices, such as the Internet.
-
Citations
23 Claims
-
1. A method for transferring ownership of assets to participants over a network, wherein the participants interface with the network using wired or wireless devices, comprising the steps of:
-
issuing redeemable tokens having defined redemption values to one or more participants over the network, wherein each issued redeemable token is associated with a participant;
probabilistically selecting at least one redeemable token, when redemption value of the issued redeemable tokens reaches a collective token value; and
transferring an ownership right to at least one asset to a participant who is associated with a selected redeemable token. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
-
-
10. A method for transferring ownership of assets to participants over a network, wherein the participants interface with the network using wired or wireless devices, comprising the steps of:
-
offering an asset for sale by specifying a redemption value associated with the asset;
issuing redeemable tokens having defined redemption values to one or more buyer participants who purchase the redeemable tokens, wherein each issued redeemable token is associated with a buyer participant;
probabilistically selecting at least one redeemable token, when a collective redemption value of the issued redeemable tokens reaches the redemption value associated with the asset; and
transferring an ownership right to the asset to a buyer participant who is associated with a selected redeemable token.
-
-
11. A method for transferring ownership of assets to participants over a network, wherein the participants interface with the network using wired or wireless devices, comprising the steps of:
-
pledging an asset as a promotional item;
associating the promotional item with an incentive criterion;
issuing redeemable tokens having defined redemption values to one or more participants who meet the incentive criterion, wherein each issued redeemable token is associated with a participant;
probabilistically selecting at least one redeemable token, when redemption value of the issued redeemable tokens reaches a collective token value; and
transferring an ownership right to the asset to a participant who is associated with a selected redeemable token. - View Dependent Claims (12, 13, 15, 16, 17, 18, 19, 20, 21, 22, 23)
-
-
14. A system for transferring ownership of an asset over a network, comprising:
-
one or more client stations where participants interface with the network using one or more wired or wireless devices;
a server station that issues redeemable tokens having defined redemption values to the participants over the network, wherein each issued redeemable token is associated with a participant;
a processor that probabilistically selects at least one redeemable token, when a collective redemption value of the issued redeemable tokens reaches a collective token value, wherein an ownership right to the asset is transferred to a participant who is associated with a probabilistically selected redeemable token.
-
Specification