Patent ID: 8050996
Filing Date: 2011-11-01
Classification: G06Q

Abstract:
1. A data processing system to establish and maintain an electronic record of a contractual obligation between parties, the system comprising: a data storage unit that is configured to store electronic matching rules; and a data processing unit, coupled to the data storage unit, that is configured to electronically (i) receive an offer of an entitlement for a requested first consideration from a plurality of first parties, (ii) receive a request for the entitlement from a second party for an offered second consideration, (iii) according to the electronic matching rules: (a) automatically determine, upon receipt of the first parties' offers and second party's request, independently of said plurality of first parties and the second party, for each first party, the value of a third consideration as a function of the first party's first consideration and the second consideration, and (b) select the best first party by determining which is the best third consideration; (iv) match the selected first party with said second party, and (v) effect transfer of the third consideration from the second party to the selected first party via at least one transfer entity; wherein the data storage unit maintains an electronic record of the resulting contractual obligation of the selected first party to provide the requested entitlement to the second party following transfer of the third consideration to the selected first party.