Patent ID: 7925541
Filing Date: 2011-04-12
Classification: G06Q

Abstract:
1. A method for conducting barter transactions between parties, comprising: receiving one or more barter listings each including one or more items sought to be traded and one or more descriptions of one or more items sought to be acquired; searching, using a computer processor, for at least one first item from the one or more barter listings; creating a barter offer including a request to exchange the at least one first item from the first party for at least one second item from a second party; generating a first reserve request for the at least one second item and preventing the second party from both entering into other barter offers and from cancelling the first reserve request until the first party confirms or rejects the first reserve request or a first predetermined period of time expires; generating a second reserve request to exchange the at least one second item in for at least one third item, wherein the second reserve request is generated for a third party and queued behind the first reserve request; if the first party confirms the first reserve request, notifying the second party of the completion of the barter offer; and if the first party rejects the first reserve request or the first predetermined period of time expires, notifying the second party of second reserve request and preventing the third party from both entering into other barter offers and from cancelling the second reserve request until the second party confirms or rejects the second reserve request or a second predetermined period of time expires.