Methods and systems for trading permanent seat licenses
First Claim
1. A method of trading seat licenses over a computer network, comprising:
- listing a seat license for sale by a seller on a seat license exchange hosted by an intermediary, the seat license exchange being conducted through a central computer over the computer network, the seat license being issued by an issuer and having an asking price determined by the seller;
receiving at least one bid for the seat license over the computer network from a bidder;
designating the bidder offering a first bid for the seat license that is at least equal to the asking price thereof as a buyer of the seat license;
initiating a trade by removing the seat license listing from the seat license exchange and establishing a trade status;
receiving a title to the seat license from the seller;
receiving a remittance at least equal to the first bid from the buyer;
receiving a final approval of the trade from the issuer; and
completing the trade 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.
3 Assignments
0 Petitions
Accused Products
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.
84 Citations
56 Claims
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1. A method of trading seat licenses over a computer network, comprising:
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listing a seat license for sale by a seller on a seat license exchange hosted by an intermediary, the seat license exchange being conducted through a central computer over the computer network, the seat license being issued by an issuer and having an asking price determined by the seller; receiving at least one bid for the seat license over the computer network from a bidder; designating the bidder offering a first bid for the seat license that is at least equal to the asking price thereof as a buyer of the seat license; initiating a trade by removing the seat license listing from the seat license exchange and establishing a trade status; receiving a title to the seat license from the seller; receiving a remittance at least equal to the first bid from the buyer; receiving a final approval of the trade from the issuer; and completing the trade 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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A system capable of allowing seat licenses to be traded over a computer network, comprising:
a computer device in communication with the computer network for establishing a seat license exchange, comprising; a first processing portion configured to list a seat license for sale by a seller on the seat license exchange, the seat license exchange being hosted by an intermediary, the seat license being issued by an issuer and having an asking price determined by the seller; a second processing portion configured to receive at least one bid for the seat license over the computer network from a bidder; a third processing portion configured to designate the bidder offering a first bid for the seat license that is at least equal to the asking price thereof as a buyer of the seat license; a fourth processing portion configured to initiate a trade by removing the seat license listing from the seat license exchange and establishing a trade status; a fifth processing portion configured to direct a title to the seat license from the seller to the intermediary; a sixth processing portion configured to direct a remittance at least equal to the first bid from the buyer to the intermediary; a seventh processing portion configured to receive a final approval of the trade from the issuer; and an eighth processing portion configured to complete the trade 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. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40)
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41. A method of selling a seat license owned by a seller on a seat license exchange, comprising:
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listing the seat license for sale on the seat license exchange, the seat license exchange being hosted by an intermediary and being conducted through a central computer over a computer network, the seat license being issued by an issuer and having an asking price determined by the seller; receiving at least one bid for the seat license over the computer network from a bidder, wherein the at least one bid includes a first bid for the seat license that is at least equal to the asking price thereof, the bidder thereafter being designated as the buyer of the seat license; sending a title to the seat license to the intermediary; receiving a final approval of the trade from the issuer; and receiving at least a portion of a buyer'"'"'s remittance from the intermediary. - View Dependent Claims (42, 43, 44, 45)
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46. A system capable of allowing seat licenses to be traded over a computer network, comprising:
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a bidder'"'"'s computer in communication with the computer network; a seller'"'"'s computer in communication with the computer network; and a central computer device in communication with the computer network for establishing a seat license exchange, the central computer device being communicable with the bidder'"'"'s computer and the seller'"'"'s computer, the central computer device comprising; a first processing portion configured to receive a listing for a seat license for sale by a seller through the seller'"'"'s computer and to list the seat license on the seat license exchange, the seat license exchange being hosted by an intermediary, the seat license being issued by an issuer and having an asking price determined by the seller; a second processing portion configured to receive at least one bid for the seat license over the computer network from a bidder through the bidder'"'"'s computer; a third processing portion configured to designate the bidder offering a first bid for the seat license that is at least equal to the asking price thereof as a buyer of the seat license; a fourth processing portion configured to initiate a trade by removing the seat license listing from the seat license exchange and establishing a trade status; a fifth processing portion configured to direct a title to the seat license from the seller to the intermediary; a sixth processing portion configured to direct a remittance at least equal to the first bid from the buyer to the intermediary; a seventh processing portion configured to receive a final approval of the trade from the issuer; and an eighth processing portion configured to complete the trade 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. - View Dependent Claims (47, 48, 49, 50, 51, 52, 53, 54, 55, 56)
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Specification