System for and managing assets using priority tokens
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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N/A
Issued Date -
Apr 10, 2003
app pub date -
Oct 4, 2001
filing date -
Oct 4, 2001
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
The present invention is a system that allows users to bid on time slots of a video conferencing resource 10 using market orders and limit bid orders denominated in tokens of different values. The users are provided with a display 110 that shows the current bids and orders along with their account balance and allowed to place orders using tokens. The slots are allocated immediately when a market bid equals a market price and allocated to the highest bidder at an end of a bidding period for limit orders when a market order has not already captured the time slot. Winning order holders are informed about the allocation of the time slots with a confirmation display 200. The users allocated the time slots have a priority specified by the cost of the time slot in tokens and can be disabled from using the time slot after use has started. Users that are to be selectively disabled are determined by comparing user priority to a priority threshold, notifying the users who qualify and allowing them to upgrade their priority by paying more for the time slot in tokens that indicate priority.
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