SYSTEM AND METHOD FOR PROVIDING BIDDING AND EXECUTION OF FRACTIONAL OWNERSHIP ASSETS
First Claim
1. A web-based system for providing bidding and execution of fractional ownership assets, the system comprising:
- an auction management engine comprising computer-executable code stored in non-volatile memory, a data store and an auction management communications means;
an asset management engine comprising computer-executable code stored in non-volatile memory, a data store and an asset management communications means;
wherein said asset management communications means is configured to communicate data to said auction management communications means; and
a communications engine comprising computer-executable code stored in non-volatile memory, a data store and a communications engine communications means,wherein said communications engine communications means is configured to communicate data from said auction management engine and said asset management engine to one or more investors and one or more sellers,wherein said computer-executable code of said auction management engine is configured to perform the steps of;
receiving an auction initialization request from said one or more sellers;
identifying auction parameters from said auction initialization request;
generating an asset information identification based at least in part on said auction initialization request;
transmitting said asset information identification to said asset management engine; and
effecting initiation of an auction process based at least in part on said auction initialization request,wherein said computer-executable code of said asset management engine is configured to perform the steps of;
receiving said asset information identification from said auction management engine;
identifying one or more assets from said asset information identification;
identifying one or more asset types for each of said one or more assets;
andeffecting receivership of said one or more assets based on said one or more asset types.
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Accused Products
Abstract
The present invention generally relates to web based systems for providing and managing investment opportunities. In particular, embodiments of the invention relate to system and method for providing individuals the ability to bid on and invest in fractional ownership of otherwise indivisible real and intellectual property assets. It is an object of the present invention to provide individuals who may otherwise be unable to afford or participate in investments related to property the ability to participate in a fractional ownership of such property and to have ownership rights and utilization rights of the property to be administrated or otherwise identified by components of the system.
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Citations
18 Claims
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1. A web-based system for providing bidding and execution of fractional ownership assets, the system comprising:
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an auction management engine comprising computer-executable code stored in non-volatile memory, a data store and an auction management communications means; an asset management engine comprising computer-executable code stored in non-volatile memory, a data store and an asset management communications means; wherein said asset management communications means is configured to communicate data to said auction management communications means; and a communications engine comprising computer-executable code stored in non-volatile memory, a data store and a communications engine communications means, wherein said communications engine communications means is configured to communicate data from said auction management engine and said asset management engine to one or more investors and one or more sellers, wherein said computer-executable code of said auction management engine is configured to perform the steps of; receiving an auction initialization request from said one or more sellers; identifying auction parameters from said auction initialization request; generating an asset information identification based at least in part on said auction initialization request; transmitting said asset information identification to said asset management engine; and effecting initiation of an auction process based at least in part on said auction initialization request, wherein said computer-executable code of said asset management engine is configured to perform the steps of; receiving said asset information identification from said auction management engine; identifying one or more assets from said asset information identification; identifying one or more asset types for each of said one or more assets; and effecting receivership of said one or more assets based on said one or more asset types. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A web-based method for providing bidding and execution of fractional ownership assets, the method comprising the steps of:
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receiving, at an auction management engine, an auction initialization request from one or more sellers; identifying, at said auction management engine, auction parameters from said auction initialization request; generating, at said auction management engine, an asset information identification based at least in part on said auction initialization request; transmitting, from said auction management engine, said asset information identification to an asset management engine; identifying, at said asset management engine, one or more assets from said asset information identification; identifying, at said asset management engine, one or more asset types for each of said one or more assets; effecting, at said asset management engine, receivership of said one or more assets based on said one or more asset types; confirming, from said asset management engine, said receivership of said one or more assets to said auction management engine; effecting, at said auction management engine, initiation of an auction process based at least in part on said auction initialization request. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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Specification