License plate trading system and method

• US 20040186786A1
• Filed: 03/19/2003
• Published: 09/23/2004
• Est. Priority Date: 03/19/2003
• Status: Active Grant

• Current Assignee: Richard Barnett
• Original Assignee: Richard Barnett
• Inventors: Barnett, Richard
• Granted Patent: US 7,346,553 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/0619 Neutral agent
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and methods through which a person to whom a license plate is issued may trade and transfer rights in the license plate with another person, preferably a resident of the same state. The present invention sets up a marketplace through which such trading can be performed, including providing escrow and other such services for buyers and sellers as necessary to effect such a transaction.

Claims

1. A method of trading a license plate, comprising:

receiving information about a license plate from a seller;

storing the license plate information in a database;

presenting license plate information to at least one prospective buyer;

recording at least one prospective buyer'"'"'s desire to purchase the license plate;

notifying the seller and the prospective buyer;

receiving payment from the prospective buyer; and

, receiving confirmation that the license plate has been transferred to the buyer.

2. The license plate trading method of claim 1, wherein the database contains information on a plurality of license plates.

3. The license plate trading method of claim 2, further comprising allowing a prospective buyer to input criteria regarding a desired license plate to facilitate searching the database.

4. The license plate trading method of claim 3, wherein the presenting step further comprises presenting license plate information which matches or is similar to the criteria input by the prospective buyer.

5. The license plate trading method of claim 1, wherein the license plate information includes a minimum price at which the seller will sell the license plate.

6. The license plate trading method of claim 5, wherein the license plate information presented to the at least one prospective buyer includes the seller minimum price.

7. The license plate trading method of claim 1, wherein the recording step includes receiving a price which the buyer is willing to pay for the license plate.

8. The license plate trading method of claim 5, wherein the recording of at least one prospective buyer'"'"'s desire to purchase the license plate is handled in an auction format.

9. The license plate trading method of claim 8, wherein the seller and the prospective buyer are notified at the end of the auction.

10. The license plate trading method of claim 1, wherein the confirmation is provided by an authorized state or federal agency.

11. The license plate trading method of claim 1, wherein the confirmation is provided by the buyer.

12. The license plate trading method of claim 11, wherein, if confirmation is not provided by the buyer within a fixed time period, the transaction is assumed to have been confirmed and the seller is paid at least a portion of the buyer payment.

13. The license plate trading method of claim 1, wherein, if confirmation is not provided within a fixed time period, the transaction is assumed to not have occurred, and at least a portion of the buyer payment is refunded.

14. A license plate trading system, comprising:

a database;

a license plate information collection means communicatively coupled to the database;

a license plate information display means communicatively coupled to the database;

a buyer payment processing means communicatively coupled to the database;

a license plate transfer confirmation means communicatively coupled to the database; and

,

a seller payment processing means communicatively coupled to at least the buyer payment processing means.

15. The license plate trading system of claim 14, further comprising a license plate information searching means.

16. The license plate trading system of claim 14, wherein the database stores the collected license plate information.

17. The license plate trading system of claim 14, wherein the license plate information collection means is one or more forms on a World Wide Web site.

18. The license plate trading system of claim 14, wherein the license plate information display means is one or more pages on a World Wide Web site.

19. The license plate trading system of claim 15, wherein the information searching means searches for exact matches of requirements entered by a prospective buyer.

20. The license plate trading system of claim 15, wherein the information searching means searches for exact matches and permutations of requirements entered by a prospective buyer.