Patent ID: 7099841

Claim:
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.