DETAILED ACTION
Notice of Pre-AIA or AIA Status
The present application, filed on or after March 16, 2013, is being examined under the first inventor to file provisions of the AIA .
This is a Final Office Action in response to application 18/708,465 entitled "SYSTEM AND METHOD FOR CONNECTING INDIVIDUALS OFFERING AND SEEKING INVESTMENT OPPORTUNITIES" filed on October 30, 2025, with claims 1 to 21 pending.
Status of Claims
Claim 21 has been amended and is hereby entered.
Claims 1-21 are pending and have been examined.
Response to Amendment
The amendment filed October 30, 2025, has been entered. Claims 1-21 remain pending in the application. Applicant’s amendments to the Specification, Drawings, and/or Claims have been noted in response to the Non-Final Office Action mailed July 2, 2025.
Information Disclosure Statement
The information disclosure statement (IDS) submitted on May 8, 2024, is in compliance with the provisions of 37 CFR 1.97. Accordingly, the information disclosure statement is being considered by the Examiner.
Claim Rejections - 35 USC § 101
35 U.S.C. 101 reads as follows:
Whoever invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof, may obtain a patent therefor, subject to the conditions and requirements of this title.
Claims 1-21 are rejected under 35 U.S.C. 101 because the claimed invention is directed to an abstract idea without significantly more.
Please see MPEP 2106 for additional information regarding Patent Subject Matter Eligibility Guidance.
Claims 1-21 are directed to a method/process, machine/apparatus, (article of) manufacture, or composition of matter, which are/is one of the statutory categories of invention, which are/is one of the statutory categories of invention. (Step 1: YES).
The claimed invention is directed to an abstract idea without significantly more.
Independent Claim 1 recites:
“A …system for facilitating connection between a user having one or more investment opportunities and one or more potential investors to enable communication therebetween, the system comprising:
…operable to: receive and record details from the user seeking to register their investment opportunity, the details comprising at least a description of the goods and/or services provided, or that are to be provided, by a business associated with the investment opportunity, thereby creating an investment opportunity profile;
receive and record information from each of the one or more potential investors;
verify, based at least on the received information, whether each of the potential investors meets one or more predefined criteria thereby confirming whether each of the potential investors has the necessary bona fides to represent their interest in an investment opportunity of the one or more registered investment opportunities;
generate a list of verified potential investor profiles; and
compare, …the investment opportunity profile of each user with each verified potential investor profile to establish matches between investment opportunities of the one or more investment opportunities and one or more potential investors of the one or more potential investors, the one or more processors operable to continuously review and analyse investment opportunities and investor profiles to identify and propose potential matches that achieve, or exceed, a pre-defined threshold match between investment opportunities and investors wherein the continuous and ongoing identification of matching investment opportunities and investors is conducted automatically.”
These limitations clearly relate to managing transactions/interactions between an entrepreneur, a startup, an established business owner, and/or investors. These limitations, under their broadest reasonable interpretation, cover performance of the limitation as certain methods of organizing human activity. Specific instances include instructing to “facilitating connection between a user having one or more investment opportunities and one or more potential investors” and “compare… the investment opportunity profile of each user” recite a fundamental economic principles or practice and/or commercial or legal interactions and/or managing personal behavior or relationships or interactions between people. If a claim limitation, under its broadest reasonable interpretation, covers performance of the limitation as a fundamental economic, commercial, or financial action, principle, or practice and managing personal behavior or relationships or interactions then it falls within the “Certain Methods of Organizing Human Activity” grouping of abstract ideas. Accordingly, the claim recites an abstract idea. (Step 2A-Prong 1: YES. The claims recite an abstract idea).
This judicial exception is not integrated into a practical application. In particular, the claims recite the additional elements of:
[computer-implemented] [one or more processors] [by the one or more processors,]:
merely applying computer processing, storage, and networking technology as tools to perform an abstract idea
are recited at a high-level of generality (i.e., as a generic processor performing a generic computer function) such that it amounts no more than mere instructions to apply the exception using a generic computer components and/or electronic processes. For example, the Applicant’s Specification reads, [0065] “As used herein, the term “central server”, “computer”, “computing system” or the like may include any processor-based or microprocessor-based system... any other circuit or processor including hardware, software, or a combination thereof capable of executing the functions”. Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, these additional elements, when considered separately and as an ordered combination, do not integrate the abstract idea into a practical application because they do not impose any meaningful limits on practicing the abstract idea and are at a high level of generality. Therefore, Claim 1 is directed to an abstract idea without a practical application. (Step 2A-Prong 2: NO. The additional claimed elements are not integrated into a practical application)
Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, the additional elements, do not change the outcome of the analysis, when considered separately and as an ordered combination. The claim further defines the abstract idea and hence is abstract for the reasons presented above. The claim does not include any additional elements that integrate the abstract idea into a practical application or are sufficient to amount to significantly more than the judicial exception when considered both individually and as an ordered combination. Therefore, the claim is directed to an abstract idea. Thus, the claim is not patent eligible. (Step 2B: NO. The claim does not provide significantly more)
Dependent Claims recite additional elements.
This judicial exception is not integrated into a practical application. In particular, the recited additional elements of
Claim 2:
“computer-implemented”, “internet”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 3:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
“blockchain technology”: generally linking to blockchain technology as a tool to perform an abstract idea
Claim 4:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 5:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 6:
“computer-implemented”, “processors”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 7:
“computer-implemented”, “internet”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 8:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
“artificial intelligence”: generally linking to artificial intelligence technology as a tool to perform an abstract idea
Claim 9:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
“artificial intelligence”: generally linking to artificial intelligence technology as a tool to perform an abstract idea
“character recognition techniques and scraping recognition technology”: generally linking to character recognition techniques and scraping recognition technology as tools to perform an abstract idea
Claim 10:
“computer-implemented”, “processors”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
are recited at a high-level of generality (i.e., as a generic processor performing a generic computer function) such that it amounts no more than mere instructions to apply the exception using a generic computer components and/or electronic processes. For example, the Applicant’s Specification reads, [0065] “As used herein, the term “central server”, “computer”, “computing system” or the like may include any processor-based or microprocessor-based system... any other circuit or processor including hardware, software, or a combination thereof capable of executing the functions”. Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, these additional elements, when considered separately and as an ordered combination, do not integrate the abstract idea into a practical application because they do not impose any meaningful limits on practicing the abstract idea and are at a high level of generality. Therefore, the claim is directed to an abstract idea without a practical application. (Step 2A-Prong 2: NO. The additional claimed elements are not integrated into a practical application)
Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, these additional elements, do not change the outcome of the analysis, when considered separately and as an ordered combination. Dependent claims further define the abstract idea that is present in their respective independent claims and hence are abstract for the reasons presented above. The dependent claims do not include any additional elements that integrate the abstract idea into a practical application or are sufficient to amount to significantly more than the judicial exception when considered both individually and as an ordered combination. Therefore, the dependent claims are directed to an abstract idea. Thus, the dependent claims are not patent eligible. (Step 2B: NO. The claims do not provide significantly more)
Independent Claim 11 recites:
“A…method for facilitating a connection between a user having one or more investment opportunities and one or more potential investors to enable communication therebetween, the method comprising:
receiving and recording,… details from the user seeking to register their investment opportunity, the details comprising at least a description of the goods and/or services provided, or that are to be provided, by a business associated with the investment opportunity, thereby creating an investment opportunity profile;
receiving and recording, …information from each of the one or more potential investors;
verifying, …based at least on the received information, whether each of the potential investors meets one or more predefined criteria thereby confirming whether each of the potential investors has the necessary bona fides to represent their interest in an investment opportunity of the one or more investment opportunities;
generating, … a list of verified potential investor profiles; and
comparing the investment opportunity profile of each user with each verified potential investor profile thereby establishing a match between an investment opportunity of the one or more investment opportunities and a potential investor of the one or more potential investors, further comprising continuously reviewing and analysing investment opportunities and investor profiles,… to identify and propose potential matches that achieve or exceed a pre-defined threshold match between investment opportunities and investors wherein the continuous and ongoing identification of matching investment opportunities and investors is conducted automatically.”
These limitations clearly relate to managing transactions/interactions between an entrepreneur, a startup, an established business owner, and/or investors. These limitations, under their broadest reasonable interpretation, cover performance of the limitation as certain methods of organizing human activity. Specific instances include instructing to “facilitating connection between a user having one or more investment opportunities and one or more potential investors” and “compare… the investment opportunity profile of each user” recite a fundamental economic principles or practice and/or commercial or legal interactions and/or managing personal behavior or relationships or interactions between people. If a claim limitation, under its broadest reasonable interpretation, covers performance of the limitation as a fundamental economic, commercial, or financial action, principle, or practice and managing personal behavior or relationships or interactions then it falls within the “Certain Methods of Organizing Human Activity” grouping of abstract ideas. Accordingly, the claim recites an abstract idea. (Step 2A-Prong 1: YES. The claims recite an abstract idea).
This judicial exception is not integrated into a practical application. In particular, the claims recite the additional elements of:
[computer-implemented] [one or more processors] [by the one or more processors,]:
merely applying computer processing, storage, and networking technology as tools to perform an abstract idea
are recited at a high-level of generality (i.e., as a generic processor performing a generic computer function) such that it amounts no more than mere instructions to apply the exception using a generic computer components and/or electronic processes. For example, the Applicant’s Specification reads, [0065] “As used herein, the term “central server”, “computer”, “computing system” or the like may include any processor-based or microprocessor-based system... any other circuit or processor including hardware, software, or a combination thereof capable of executing the functions”. Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, these additional elements, when considered separately and as an ordered combination, do not integrate the abstract idea into a practical application because they do not impose any meaningful limits on practicing the abstract idea and are at a high level of generality. Therefore, Claim 11 is directed to an abstract idea without a practical application. (Step 2A-Prong 2: NO. The additional claimed elements are not integrated into a practical application)
Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, the additional elements, do not change the outcome of the analysis, when considered separately and as an ordered combination. The claim further defines the abstract idea and hence is abstract for the reasons presented above. The claim does not include any additional elements that integrate the abstract idea into a practical application or are sufficient to amount to significantly more than the judicial exception when considered both individually and as an ordered combination. Therefore, the claim is directed to an abstract idea. Thus, the claim is not patent eligible. (Step 2B: NO. The claim does not provide significantly more)
Dependent Claims recite additional elements.
This judicial exception is not integrated into a practical application. In particular, the recited additional elements of
Claim 12:
“computer-implemented”, “internet”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 13:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
“blockchain technology”: generally linking to blockchain technology as a tool to perform an abstract idea
Claim 14:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 15:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 16:
“computer-implemented”, “processors”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 17:
“computer-implemented”, “internet”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
Claim 18:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
“artificial intelligence”: generally linking to artificial intelligence technology as a tool to perform an abstract idea
Claim 19:
“computer-implemented”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
“artificial intelligence”: generally linking to artificial intelligence technology as a tool to perform an abstract idea
“character recognition techniques and scraping recognition technology”: generally linking to character recognition techniques and scraping recognition technology as tools to perform an abstract idea
Claim 20:
“computer-implemented”, “processors”: merely applying computer processing, networking, and display technologies as a tool to perform an abstract idea
are recited at a high-level of generality (i.e., as a generic processor performing a generic computer function) such that it amounts no more than mere instructions to apply the exception using a generic computer components and/or electronic processes. For example, the Applicant’s Specification reads, [0065] “As used herein, the term “central server”, “computer”, “computing system” or the like may include any processor-based or microprocessor-based system... any other circuit or processor including hardware, software, or a combination thereof capable of executing the functions”. Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, these additional elements, when considered separately and as an ordered combination, do not integrate the abstract idea into a practical application because they do not impose any meaningful limits on practicing the abstract idea and are at a high level of generality. Therefore, the claim is directed to an abstract idea without a practical application. (Step 2A-Prong 2: NO. The additional claimed elements are not integrated into a practical application)
Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, these additional elements, do not change the outcome of the analysis, when considered separately and as an ordered combination. Dependent claims further define the abstract idea that is present in their respective independent claims and hence are abstract for the reasons presented above. The dependent claims do not include any additional elements that integrate the abstract idea into a practical application or are sufficient to amount to significantly more than the judicial exception when considered both individually and as an ordered combination. Therefore, the dependent claims are directed to an abstract idea. Thus, the dependent claims are not patent eligible. (Step 2B: NO. The claims do not provide significantly more)
Independent Claim 21 recites:
“A …to perform the steps of:
receiving and recording details from a user seeking to register their investment opportunity, the details comprising at least a description of the goods and/or services provided, or that are to be provided, by a business associated with the investment opportunity, thereby creating an investment opportunity profile;
receiving and recording information from each of one or more potential investors;
verifying, based at least on the received information, whether each of the potential investors meets one or more predefined criteria thereby confirming whether each of the potential investors has the necessary bona fides to represent their interest in an investment opportunity of the one or more investment opportunities;
generating a list of verified potential investor profiles; and
comparing the investment opportunity profile of each user with each verified potential investor profile thereby establishing matches between investment opportunities of the one or more investment opportunities and potential investors of the one or more potential investors, further comprising continuously reviewing and analysing investment opportunities and investor profiles, …. to identify and propose potential matches that achieve or exceed a pre-defined threshold match between investment opportunities and investors wherein the continuous and ongoing identification of matching investment opportunities and investors is conducted automatically.”
These limitations clearly relate to managing transactions/interactions between an entrepreneur, a startup, an established business owner, and/or investors. These limitations, under their broadest reasonable interpretation, cover performance of the limitation as certain methods of organizing human activity. Specific instances include instructing to “facilitating connection between a user having one or more investment opportunities and one or more potential investors” and “compare… the investment opportunity profile of each user” recite a fundamental economic principles or practice and/or commercial or legal interactions and/or managing personal behavior or relationships or interactions between people. If a claim limitation, under its broadest reasonable interpretation, covers performance of the limitation as a fundamental economic, commercial, or financial action, principle, or practice and managing personal behavior or relationships or interactions then it falls within the “Certain Methods of Organizing Human Activity” grouping of abstract ideas. Accordingly, the claim recites an abstract idea. (Step 2A-Prong 1: YES. The claims recite an abstract idea).
This judicial exception is not integrated into a practical application. In particular, the claims recite the additional elements of:
[non-transitory computer-readable medium having a plurality of stored executable instructions thereon that, when executed, cause one or more processors] [by the one or more processors,]:
merely applying computer processing, storage, and networking technology as tools to perform an abstract idea
are recited at a high-level of generality (i.e., as a generic processor performing a generic computer function) such that it amounts no more than mere instructions to apply the exception using a generic computer components and/or electronic processes. For example, the Applicant’s Specification reads, [0065] “As used herein, the term “central server”, “computer”, “computing system” or the like may include any processor-based or microprocessor-based system... any other circuit or processor including hardware, software, or a combination thereof capable of executing the functions”. Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, these additional elements, when considered separately and as an ordered combination, do not integrate the abstract idea into a practical application because they do not impose any meaningful limits on practicing the abstract idea and are at a high level of generality. Therefore, Claim 21 is directed to an abstract idea without a practical application. (Step 2A-Prong 2: NO. The additional claimed elements are not integrated into a practical application)
Mere instructions to apply an exception using a generic computer component cannot provide an inventive concept. The additional elements merely add instructions to implement an abstract idea on a computer, or merely uses a computer as a tool to perform an abstract idea, see MPEP 2106.05(f). Accordingly, the additional elements, do not change the outcome of the analysis, when considered separately and as an ordered combination. The claim further defines the abstract idea and hence is abstract for the reasons presented above. The claim does not include any additional elements that integrate the abstract idea into a practical application or are sufficient to amount to significantly more than the judicial exception when considered both individually and as an ordered combination. Therefore, the claim is directed to an abstract idea. Thus, the claim is not patent eligible. (Step 2B: NO. The claim does not provide significantly more)
Claim Rejections - 35 USC § 102
In the event the determination of the status of the application as subject to AIA 35 U.S.C. 102 and 103 (or as subject to pre-AIA 35 U.S.C. 102 and 103) is incorrect, any correction of the statutory basis for the rejection will not be considered a new ground of rejection if the prior art relied upon, and the rationale supporting the rejection, would be the same under either status.
This application currently names joint inventors. In considering patentability of the claims the examiner presumes that the subject matter of the various claims was commonly owned as of the effective filing date of the claimed invention(s) absent any evidence to the contrary. Applicant is advised of the obligation under 37 CFR 1.56 to point out the inventor and effective filing dates of each claim that was not commonly owned as of the effective filing date of the later invention in order for the examiner to consider the applicability of 35 U.S.C. 102(b)(2)(C) for any potential 35 U.S.C. 102(a)(2) prior art against the later invention.
The following is a quotation of the appropriate paragraphs of 35 U.S.C. 102 that form the basis for the rejections under this section made in this Office action:
A person shall be entitled to a patent unless –
(a)(2) the claimed invention was described in a patent issued under section 151, or in an application for patent published or deemed published under section 122(b), in which the patent or application, as the case may be, names another inventor and was effectively filed before the effective filing date of the claimed invention.
Claims 1, 2, 4-7, 11-12, 14-17, and 21 are rejected under 35 U.S.C. 102(a)(2) as being anticipated by Schmitt ("SYSTEM AND METHOD FOR AUTOMATED TRADING OF FINANCIAL INTERESTS", U.S. Publication Number: 20220005119 A1).
Regarding Claim 1,
Schmitt teaches,
A computer-implemented system for facilitating connection between a user having one or more investment opportunities and one or more potential investors to enable communication therebetween, the system comprising:
one or more processors
(Schmitt [0397] networking functionality include ...providing a network infrastructure where qualified investors can access information about investment opportunities available through the portal... enable communication and social media interaction via public/private chat, posting-boards/forums
Schmitt [0092] implemented in computer programs executing on programmable computers, each computer including at least one processor)
operable to: receive and record details from the user seeking to register their investment opportunity, the details comprising at least a description of the goods and/or services provided, or that are to be provided, by a business associated with the investment opportunity, thereby creating an investment opportunity profile;
(Schmitt [0387] relate to the creation... of financial interests, business entities...Aspects of such creation... may be subject to regulation... provide a venue for primary offerings and secondary trading (e.g. auction, bulletin board).
Schmitt [0400] ...a streamlined and electronic on-boarding process by leveraging standardized document formats.
Schmitt [0405] A company... can set selection criteria for how other portal participants are introduced to the company's opportunities as well (e.g. only notify by e-mail to specific investor types). Schmitt [0396] to facilitate both the capital raising process and access to secondary market trading utilizing a centralized platform, increase visibility of the company, its ideas, products and services to qualified members of the investing public
Schmitt [0403] System 900 may provide an interface with a complete company profile form.)
receive and record information from each of the one or more potential investors;
(Schmitt [0412] workflow which may be utilized in its entirety or in part to facilitate the on boarding of an investor 904 with a portal 902. System 900 may provide an interface with an investor profile form. After receiving input data defining attributes of the investor)
verify, based at least on the received information, whether each of the potential investors meets one or more predefined criteria thereby confirming whether each of the potential investors has the necessary bona fides to represent their interest in an investment opportunity of the one or more registered investment opportunities;
(Schmitt [0411] Each investor may be assigned a private profile page as part of the registration process which may contain private information, including biographical information, financial details, investment profiles, areas of interest, confirmation of accredited investor status for verification
Examiner notes that "accredited investor" is a term of the art in which the US Securities and Exchange Commission defines a "Financial Criteria" as having:
"Net worth over $1 million, excluding primary residence (individually or with spouse or partner)
Income over $200,000 (individually) or $300,000 (with spouse or partner) in each of the prior two years, and reasonably expects the same for the current year", See attached SEC - Accredited investor )
generate a list of verified potential investor profiles;
(Schmitt [0411] Market participant processor 300 may have access to all of its client profiles.
Schmitt [0414] An approved market participant may have access to all of its client profiles and may receive access to non-client investor profiles if a portal 902 investor 904 has granted permission.)
and compare, by the one or more processors, the investment opportunity profile of each user with each verified potential investor profile to establish matches between investment opportunities of the one or more investment opportunities and one or more potential investors of the one or more potential investors,
(Schmitt [0388] Developments in the growth, funding, and development of business entities, including seeking and matching of investors or experts with business entities, and trading of related financial interests, have created opportunities for development in the ways in which such parties and businesses are identified and served.
Schmitt [0419] For each selected expert, system 900 checks for a match to an IRC or ARC panel, if not then system 900 moves to another expert 301. If there is a match, then system 900 updates expert selection status in expert profile and generates and transmits notification to the expert 301 regarding selection on a panel
Schmitt [0389] Accordingly, embodiments described herein may provide issuers, and/or prospective issuers, of financial instruments with the ability to offer and/or trade, and/or otherwise make various forms of financial instruments available to market participants and intermediaries, using various combinations
Schmitt [0421] agreement may be determined automatically through matching process.
Schmitt [0410] using a crossing session matching engine ... or other matching engine. Updated information of the company (profile and supporting documents) may be made available. To participate in a trade, both sellers and buyers must submit interest)
the one or more processors operable to continuously review and analyse investment opportunities and investor profiles to identify and propose potential matches that achieve, or exceed, a pre-defined threshold match between investment opportunities and investors wherein the continuous and ongoing identification of matching investment opportunities and investors is conducted automatically.
(Schmitt [0287] Continuous order matching may refer to the process for executing trades by matching buy orders with sell orders.
Schmitt [0053] The method can further comprise analyzing the request to identify whether a pattern of historical orders of the participant are associated with a short term investor. The period of time can be a minimum of 5 milliseconds. The period of time can be a maximum of 9 milliseconds.
Schmitt [0276] different rankings for different matching factors may be weighted different using non-zero coefficients so that one matching factor has greater weight than another matching factor.)
Regarding Claim 2,
Schmitt teaches the investment portal of Claim 1 as described earlier.
Schmitt teaches,
wherein the verification process regarding potential investors comprises interrogation of one or more external data sources operably connected to the internet.
(Schmitt [0431] The information services and referrals utilities 914, 912 may be configured to facilitate market participant account opening and company disclosure documents. This ...may involve the provisions of common forms to creating efficiencies for market participants ... and accredited investor verification forms.
Schmitt [0395] The portal 902 and supporting web platform may support various business objectives,...identify key user groups, ... interaction models between internal and external entities...dissemination... validation and appropriate approvals, among other features.
Schmitt [0238] The CMV platform and components thereof (e.g. an aggregation engine 190) may include one or more computing devices operable by users to access remote network resources.
Schmitt [0423] using one or more computing devices operable to access remote network resources. The computing devices may be the same or different types of devices.... distributed over a wide geographic area and connected via a network (which may be referred to as “cloud computing”).)
Regarding Claim 4,
Schmitt teaches the investment portal of Claim 1 as described earlier.
Schmitt teaches,
wherein the verification process regarding potential investors comprises obtaining an estimate regarding a private wealth profile of the investor obtained from digital information regarding the investor.
(Schmitt [0411] Each investor may be assigned a private profile page as part of the registration process which may contain private information, including biographical information, financial details, investment profiles, areas of interest, confirmation of accredited investor status for verification...Investors 904 (e.g. accredited, eligible, qualified) may receive access
Schmitt [0414] including confirming qualified investor status and various suitability reviews.)
Regarding Claim 5,
Schmitt teaches the investment portal of Claim 1 as described earlier.
Schmitt teaches,
wherein the user having an investment opportunity is required to meet a minimum standard of disclosure regarding the investment opportunity that is registered in the computer implemented system to generate an investment opportunity profile having minimum requirements
(Schmitt [0422] creating a set of standards for certified partners to apply to companies who want to do an initial offering on the portal...sharing of information through disclosure of investors 904 and company profiles on portal 902 to provide access to market participants 300 and market participant's clients.
Schmitt [0005] such as for example dark (i.e., those in which terms of sought and/or proposed trades are not disclosed to other market participants), lit (i.e., those in which terms of sought and/or proposed trades are disclosed to other market participants)
Schmitt [0390] Disclosure and other procedures associated with trading, listing, offering, and/or trading of financial instruments on networked venues may also be managed
Schmitt [0431] company disclosure documents. This may involve the provisions of common forms to creating efficiencies for market participants )
comprising any one or more of an executive summary, an overview of the market, revenue profile, expenditure, marketing estimates, personal profiles of the individuals operating the business and expected investment funds required to achieve objectives detailed in the executive summary.
(Schmitt [0432] reports which may include overview of a company's product, market and competitive analysis, sales and revenue forecasts, management profiles, discounted cash flow analysis, summary of prior financings, and risk analysis.
Schmitt [0434] providing information regarding portal 902, services, associated risks, the role of market participants 300, general Q&A/FAQ information, market sizing, deal history and success metrics. This may also involve posting articles and white papers on various companies, products, sectors, investment topics, and posting webinars on various investment topics.)
Regarding Claim 6,
Schmitt teaches the investment portal of Claim 1 as described earlier.
Schmitt teaches,
wherein the one or more processors are operable to conduct a detailed analysis of investment opportunities to identify one or more factors including comprising strengths, weaknesses, opportunities and threats according to a range of considerations comprising any one or more of barriers to market entry, investment requirements, estimated time to achieve return on investment, the quantum of return, the number of employees required, overview of business sector according to previous profits and geographical region, uniqueness of the investment opportunity, potential legal issues, estimated growth of investment and estimated return over pre-defined periods of time.
(Schmitt [0432] reports which may include overview of a company's product, market and competitive analysis, sales and revenue forecasts, management profiles, discounted cash flow analysis, summary of prior financings, and risk analysis.
Schmitt [0434] providing information regarding portal 902, services, associated risks, the role of market participants 300, general Q&A/FAQ information, market sizing, deal history and success metrics. This may also involve posting articles and white papers on various companies, products, sectors, investment topics, and posting webinars on various investment topics.)
Regarding Claim 7,
Schmitt teaches the investment portal of Claim 1 as described earlier.
Schmitt teaches,
wherein the generated profiles of investment opportunities and potential investors is supported by additional analysis of external data obtained from data sources accessible and operably connected to the internet.
(Schmitt [0431] The information services and referrals utilities 914, 912 may be configured to facilitate market participant account opening and company disclosure documents. This ...may involve the provisions of common forms to creating efficiencies for market participants ... and accredited investor verification forms.
Schmitt [0397] networking functionality include (but are not limited to) providing a network infrastructure where qualified investors can access information about investment opportunities
Schmitt [0395] The portal 902 and supporting web platform may support various business objectives,...identify key user groups, ... interaction models between internal and external entities...dissemination... validation and appropriate approvals, among other features.
Schmitt [0238] The CMV platform and components thereof (e.g. an aggregation engine 190) may include one or more computing devices operable by users to access remote network resources.
Schmitt [0423] using one or more computing devices operable to access remote network resources. The computing devices may be the same or different types of devices.... distributed over a wide geographic area and connected via a network (which may be referred to as “cloud computing”).)
Claim 11 is rejected on the same basis as Claim 1.
Claim 12 is rejected on the same basis as Claim 2.
Claim 14 is rejected on the same basis as Claim 4.
Claim 15 is rejected on the same basis as Claim 5.
Claim 16 is rejected on the same basis as Claim 6.
Claim 17 is rejected on the same basis as Claim 7.
Claim 21 is rejected on the same basis as Claim 1.
Claim Rejections - 35 USC § 103
In the event the determination of the status of the application as subject to AIA 35 U.S.C. 102 and 103 (or as subject to pre-AIA 35 U.S.C. 102 and 103) is incorrect, any correction of the statutory basis for the rejection will not be considered a new ground of rejection if the prior art relied upon, and the rationale supporting the rejection, would be the same under either status.
This application currently names joint inventors. In considering patentability of the claims the examiner presumes that the subject matter of the various claims was commonly owned as of the effective filing date of the claimed invention(s) absent any evidence to the contrary. Applicant is advised of the obligation under 37 CFR 1.56 to point out the inventor and effective filing dates of each claim that was not commonly owned as of the effective filing date of the later invention in order for the examiner to consider the applicability of 35 U.S.C. 102(b)(2)(C) for any potential 35 U.S.C. 102(a)(2) prior art against the later invention.
The following is a quotation of 35 U.S.C. 103 which forms the basis for all obviousness rejections set forth in this Office action:
A patent for a claimed invention may not be obtained, notwithstanding that the claimed invention is not identically disclosed as set forth in section 102, if the differences between the claimed invention and the prior art are such that the claimed invention as a whole would have been obvious before the effective filing date of the claimed invention to a person having ordinary skill in the art to which the claimed invention pertains. Patentability shall not be negated by the manner in which the invention was made.
The factual inquiries set forth in Graham v. John Deere Co., 383 U.S. 1, 148 USPQ 459 (1966), that are applied for establishing a background for determining obviousness under 35 U.S.C. 103 are summarized as follows:
1. Determining the scope and contents of the prior art.
2. Ascertaining the differences between the prior art and the claims at issue.
3. Resolving the level of ordinary skill in the pertinent art.
4. Considering objective evidence present in the application indicating obviousness or nonobviousness.
Claims 3, 8, 9, 13, 18, and 19 are rejected under 35 U.S.C. 103 as being unpatentable over Schmitt ("SYSTEM AND METHOD FOR AUTOMATED TRADING OF FINANCIAL INTERESTS", U.S. Publication Number: 20220005119 A1), in view of Cella (“SYSTEMS AND METHODS FOR CONTROLLING RIGHTS RELATED TO DIGITAL KNOWLEDGE”, U.S. Publication Number: 20210342836 A1).
Regarding Claim 3,
Schmitt teaches the investment portal of Claim 1 as described earlier.
Schmitt teaches,
wherein the verification process regarding potential investors
(Schmitt [0411] Each investor may be assigned a private profile page as part of the registration process which may contain private information, including biographical information, financial details, investment profiles, areas of interest, confirmation of accredited investor status for verification)
Schmitt does not teach utilises blockchain technology.
Cella teaches,
utilises blockchain technology.
(Cella [1036] components... include a set of applications...such as an investment application ... a private equity service, a venture capital service, an angel investment service
Cella [Abstract] manage, and store things on a distributed ledger)
It is prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to have modified the investment portal of Schmitt to incorporate the digital knowledge controlling rights management of Cella for “a tokenization system to tokenize the digital knowledge and a ledger management system to create, manage, and store things on a distributed ledger and provide provable access to the digital knowledge.” (Cella [Abstract]). The modification would have been obvious, because it is merely applying a known technique (i.e. digital knowledge controlling rights management) to a known concept (i.e. investment portal) ready for improvement to yield predictable result (i.e. “Operations on blockchains, such as ones using cryptocurrency, increasingly require energy-intensive computing operations… Many applications of artificial intelligence also require energy-intensive computing operations” Cella [0019-0020] “Example methods and systems herein provide for improvements to data collection, storage and processing, automated configuration of inputs, resource, and outputs, and means for facility optimization for an energy and compute facility” Cella [0024])
Regarding Claim 8,
Schmitt teaches the investment portal of Claim 2 as described earlier.
Schmitt teaches,
to further support and verify the potential investor profiles developed and recorded on the computer-implemented system.
(Schmitt [0411] Each investor may be assigned a private profile page as part of the registration process which may contain private information, including biographical information, financial details, investment profiles, areas of interest, confirmation of accredited investor status for verification
Schmitt [0055] A database can be configured to store records identifying which participants are short term investors and which participants are long term investors.)
Schmitt does not teach wherein the interrogation of external data sources utilises one or more artificial intelligence techniques.
Cella teaches,
wherein the interrogation of external data sources utilises one or more artificial intelligence techniques
(Cella [0064] interfaces to a set of market platforms and external resources, and a set of user or client systems and devices
Cella [0043] enabling intelligent transactions including ones involving expert systems, self-organization, machine learning, artificial intelligence and including neural net systems trained for pattern recognition, for classification of one or more parameters, characteristics
Cella [0240] asset identification services (e.g., for identifying a set of assets for which a financial institution is responsible for taking custody), identity management services (e.g., by which a financial institution verifies identities and credentials), and the like, and/or similar functional terminology. Example services to perform one or more functions herein include computing devices; servers; networked devices; user interfaces; inter-device interfaces such as communication protocols, shared information and/or information storage, and/or application programming interfaces (APIs);)
It is prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to have modified the investment portal of Schmitt to incorporate the digital knowledge controlling rights management of Cella for “a tokenization system to tokenize the digital knowledge and a ledger management system to create, manage, and store things on a distributed ledger and provide provable access to the digital knowledge.” (Cella [Abstract]). The modification would have been obvious, because it is merely applying a known technique (i.e. digital knowledge controlling rights management) to a known concept (i.e. investment portal) ready for improvement to yield predictable result (i.e. “Operations on blockchains, such as ones using cryptocurrency, increasingly require energy-intensive computing operations… Many applications of artificial intelligence also require energy-intensive computing operations” Cella [0019-0020] “Example methods and systems herein provide for improvements to data collection, storage and processing, automated configuration of inputs, resource, and outputs, and means for facility optimization for an energy and compute facility” Cella [0024])
Regarding Claim 9,
Schmitt and Cella teach the investment portal of Claim 8 as described earlier.
Schmitt does not teach wherein the one or more artificial intelligence techniques include comprise character recognition techniques and scraping recognition technology.
Cella teaches,
wherein the one or more artificial intelligence techniques comprise character recognition techniques and scraping recognition technology.
(Cella [0043] embodiments of neural net systems that may connect to, be integrated in, and be accessible by the platform for enabling intelligent transactions including ones involving expert systems, self-organization, machine learning, artificial intelligence and including neural net systems trained for pattern recognition
Cella [1136] systems for raw data processing 3904 (such as by optical character recognition (OCR))
It is prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to have modified the investment portal of Schmitt to incorporate the digital knowledge controlling rights management of Cella for “a tokenization system to tokenize the digital knowledge and a ledger management system to create, manage, and store things on a distributed ledger and provide provable access to the digital knowledge.” (Cella [Abstract]). The modification would have been obvious, because it is merely applying a known technique (i.e. digital knowledge controlling rights management) to a known concept (i.e. investment portal) ready for improvement to yield predictable result (i.e. “Operations on blockchains, such as ones using cryptocurrency, increasingly require energy-intensive computing operations… Many applications of artificial intelligence also require energy-intensive computing operations” Cella [0019-0020] “Example methods and systems herein provide for improvements to data collection, storage and processing, automated configuration of inputs, resource, and outputs, and means for facility optimization for an energy and compute facility” Cella [0024])
Claim 13 is rejected on the same basis as Claim 3.
Claim 18 is rejected on the same basis as Claim 8.
Claim 19 is rejected on the same basis as Claim 9.
Claims 10 and 20 are rejected under 35 U.S.C. 103 as being unpatentable over Schmitt ("SYSTEM AND METHOD FOR AUTOMATED TRADING OF FINANCIAL INTERESTS", U.S. Publication Number: 20220005119 A1), in view of Adamy (“SYSTEM AND METHOD FOR ENHANCED USER MATCHING BASED ON MULTIPLE DATA SOURCES”, U.S. Publication Number: 20170109448 A1).
Regarding Claim 10,
Schmitt teaches the investment portal of Claim 1 as described earlier.
Schmitt teaches,
upon joining a consortium, receive a greater number of possible investment matches beyond those identified according to the investor acting as a sole investor.
(Schmitt [0127] Authorization to place orders... may be restricted to one or more classes of market participants (e.g. retail, institutional, long term), types of order flow, types of customers, and so on. For example, as shown, liquidity takers may be limited to customers of dealers who are retail, institutional, or long term investors... For example, only traditional (e.g. non-SME, retail, institutional, long term buy side) order flow may take liquidity, liquidity providers may be unrestricted, and liquidity providers and liquidity takers may not define counter electives. This may be an example of segmentation as described herein. Authorization to designate eligible counterparties, and/or classes of counterparties, may be restricted to one or more classes of market participants.)
Smith does not teach wherein the one or more processors are further operable to enable individual potential investors to indicate their interest in joining other potential investors to form an investor consortium such that individual investors.
Adamy teaches,
wherein the one or more processors are further operable to enable individual potential investors to indicate their interest in joining other potential investors to form an investor consortium such that individual investors,
(Adamy [0050] based on social, geographic, or other aspects. For example, on a religious or political spectrum,.... such as investment or development opportunities
Adamy [0051] match user module 507 may match users to each other (peer matching), for example based on shared interests, similar fields of expertise, or similar goals (for example, career goals, professional goals, project goals, etc.).
Adamy [0064] match users with one another based on (for example) similar scoring values in key areas (such as experience within a particular field, or shared personal interests or goals, or identified skill correlations).
Adamy [0054] profiles retrieved through social media interface 520, for example, profile information from ... Angel List™.)
It is prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to have modified the investment portal of Schmitt to incorporate the shared interest matching of Adamy for “user matching utilizing multiple data sources.” (Adamy [Abstract]). The modification would have been obvious, because it is merely applying a known technique (i.e. shared interest matching) to a known concept (i.e. investment portal) ready for improvement to yield predictable result (i.e. “match user module 507 may match users to each other (peer matching), for example based on shared interests, similar fields of expertise, or similar goals” Adamy [0051])
Claim 20 is rejected on the same basis as Claim 10.
Response to Remarks
Applicant's arguments filed on October 30, 2025, have been fully considered and Examiner’s remarks to Applicant’s amendments follow.
Response Remarks on Claim Rejections - 35 USC § 101
The Applicant states:
“Applicant has amended pending claim 21 to recite a "non-transitory" computer
readable medium, thereby addressing the Examiner's rejection of this claim in Item 5 of the Office Action."
Examiner responds:
The “signals per se” rejection has been lifted. However, the remaining rejection under 35 USC § 101 remains.
The Applicant states:
“The Examiner also contends in Item 6 of the Office Action, that pending claims 1 to 21 are directed to an abstract idea "without significantly more", and therefore do not comprise patent-eligible subject matter. The Applicant respectfully disagrees…. practical and useful result of automatic matching of investors with investment opportunities and the automatic provision of matched opportunities to investors …keeping investors aware of opportunities as soon as possible so that they may act upon available opportunities more quickly. … provides a more efficient method of maintaining parties … results in more accurate matching, increased securing of investment opportunities …. conserving computer processing and computer networking requirements. "
Examiner responds:
The “automatic matching of investors”, “automatic provision of matched opportunities to investors” and “keeping investors aware of opportunities as soon as possible so that they may act upon available opportunities more quickly. … provides a more efficient method of maintaining parties” clearly relate to managing transactions/interactions between an entrepreneur, a startup, an established business owner, and/or investors. The limitations, under their broadest reasonable interpretation, cover performance of the limitation as certain methods of organizing human activity and recite a fundamental economic principles or practice and/or commercial or legal interactions and/or managing personal behavior or relationships or interactions between people. If a limitation, under its broadest reasonable interpretation, covers performance of the limitation as a fundamental economic, commercial, or financial action, principle, or practice and managing personal behavior or relationships or interactions then it falls within the “Certain Methods of Organizing Human Activity” grouping of abstract ideas. Accordingly, the claim recites an abstract idea. (Step 2A-Prong 1: YES. The claims recite an abstract idea).
Furthermore, “automatic matching …” and “automatic provision of matched opportunities … ” amounts to gathering, sharing, and manipulation of data that expresses an Abstract Idea [Intellectual Ventures I v. Capital One Fin. Corp., 850 F.3d 1332, 121 USPQ2d 1940 (Fed. Cir. 2017) “collecting, displaying, and manipulating data” was considered part of the abstract idea].
The alleged improvements of “more accurate matching, increased securing of investment opportunities …. conserving computer processing and computer networking requirements” are a result of implementing a series of abstract ideas with no technological improvement. Moreover, an abstract idea cannot integrate another abstract idea into a practical application.
The Applicant states:
“ integrates the claimed elements into a practical application that enables a user (investor) to avoid the need to conduct repeated or protracted searching for opportunities. Accordingly, the present invention (as claimed) involves more than managing transactions between various parties and recognizes that by combining at least the technical features of verifying, by one or more processors, whether each of the potential investors has the necessary bona fides to represent their interest in an investment opportunity, generating a list of verified potential investor profiles, and comparing the investment opportunity profile of each user with each verified potential investor profile to establish matches between investment opportunities and one or more potential investors, achieves at least the technical advantage of a reduced list of
potential investors, thereby avoiding comparison with investors not having the necessary bona fides which conserves computing processing and networking requirements. "
Examiner responds:
The acts that enable “a user (investor) to avoid the need to conduct repeated or protracted searching for opportunities. … verifying… whether each of the potential investors has the necessary bona fides to represent their interest in an investment opportunity, generating a list of verified potential investor profiles, and comparing the investment opportunity profile of each user with each verified potential investor profile to establish matches between investment opportunities and one or more potential investors, …. a reduced list of potential investors” clearly relate to managing transactions/interactions between an entrepreneur, a startup, an established business owner, and/or investors. The limitations, under their broadest reasonable interpretation, cover performance of the limitation as certain methods of organizing human activity and recite a fundamental economic principles or practice and/or commercial or legal interactions and/or managing personal behavior or relationships or interactions between people. If a limitation, under its broadest reasonable interpretation, covers performance of the limitation as a fundamental economic, commercial, or financial action, principle, or practice and managing personal behavior or relationships or interactions then it falls within the “Certain Methods of Organizing Human Activity” grouping of abstract ideas. Accordingly, the claim recites an abstract idea. (Step 2A-Prong 1: YES. The claims recite an abstract idea).
Again, “a reduced list of potential investors, thereby avoiding comparison with investors not having the necessary bona fides” expresses an abstract idea as well. Therefore, “conserves computing processing and networking requirements” cannot be a technical innovation as it stems from an abstract idea and not a technological component (additional element).
The Applicant states:
“ Furthermore, as per the guidance provided in MPEP 2106.05(c), limitations effecting a transformation or reduction of a particular article to a different state or thing are indicative of integration of an abstract idea into a practical application. In this regard, the recited limitations of "verify, based on at least the received information, whether each of the potential investors meets one or more predefined criteria thereby confirming whether each of the potential investors has the necessary bona ides to represent their interest in an investment opportunity of the one or more registered investment opportunities" and "generate a list of verified potential investor profiles" achieves a reduced list of potential investors (for reasons discussed above) which may be regarded as "a transformed state" in the generated list of potential investor profiles as compared with what would otherwise be achieved in the absence of the specific combination of limitations recited in the present claims. Accordingly, the Applicant respectfully submits that the claimed invention has practical application and should be considered subject matter eligible."
Examiner responds:
MPEP 2106.05(c), “limitations effecting a transformation or reduction of a particular article to a different state or thing” is reserved for tangible material. The same section of the MPEP states:
An “article” includes a physical object or substance. The physical object or substance must be particular, meaning it can be specifically identified. “Transformation” of an article means that the “article” has changed to a different state or thing. Changing to a different state or thing usually means more than simply using an article or changing the location of an article. A new or different function or use can be evidence that an article has been transformed. Purely mental processes in which thoughts or human based actions are “changed” are not considered an eligible transformation. For data, mere “manipulation of basic mathematical constructs [i.e.,] the paradigmatic ‘abstract idea,’” has not been deemed a transformation. CyberSource v. Retail Decisions, 654 F.3d 1366, 1372 n.2, 99 USPQ2d 1690, 1695 n.2 (Fed. Cir. 2011) (quoting In re Warmerdam, 33 F.3d 1354, 1355, 1360, 31 USPQ2d 1754, 1755, 1759 (Fed. Cir. 1994)).
The Applicant states:
“ Applicant respectfully submits that the claimed invention involves more than a mere implementation of an abstract idea on a generic computer, and the specific combination of claimed elements was not well- understood, routine, or conventional activities previously known to the industry…. As per guidance provided in MPEP 2106.05(d), "if the additional element (or combination of elements) is a specific limitation other than what is well-understood, routine and conventional in the field, for instance because it is an unconventional step that confines the claim to a particular useful application of the judicial exception, then this consideration favors eligibility""
Examiner responds:
The alleged “additional elements” claimed by the applicant are deemed abstract ideas. Therefore, no “particular useful application of the judicial exception” exists. The rejection under 35 USC § 101 remains.
Response Remarks on Claim Rejections - 35 USC § 102/103
Applicant's amendments required the application of NO new/additional prior art.
The Applicant states:
“ Schmitt … is not concerned with matching a profile of a user having one or more "investment opportunities" …there is no disclosure, teaching, or suggestion in Schmitt of matching a profile of a user having one or more investment opportunities with one or more verified potential investors. In other words, Schmitt discloses "matching" solely within the context of matching buy and sell orders "
Examiner responds:
Schmitt teaches “matching a profile of a user having one or more "investment opportunities”:
Schmitt [0388] Developments in the growth, funding, and development of business entities, including seeking and matching of investors or experts with business entities, and trading of related financial interests, have created opportunities for development in the ways in which such parties and businesses are identified and served.
Schmitt [0419] For each selected expert, system 900 checks for a match to an IRC or ARC panel, if not then system 900 moves to another expert 301. If there is a match, then system 900 updates expert selection status in expert profile and generates and transmits notification to the expert 301 regarding selection on a panel
Schmitt [0389] Accordingly, embodiments described herein may provide issuers, and/or prospective issuers, of financial instruments with the ability to offer and/or trade, and/or otherwise make various forms of financial instruments available to market participants and intermediaries, using various combinations
Schmitt [0410] using a crossing session matching engine ... or other matching engine. Updated information of the company (profile and supporting documents) may be made available. To participate in a trade, both sellers and buyers must submit interest
The Applicant states:
“The Applicant also respectfully disagrees with the Examiner's assertion that Schmitt discloses the presently claimed features regarding "the one or more processors operable to continuously review and analyse investment opportunities and investor profiles to identify and propose potential matches that achieve, or exceed, a pre-defined threshold match "
Examiner responds:
Schmitt teaches “continuously review …threshold match”:
Schmitt [0287] Continuous order matching may refer to the process for executing trades by matching buy orders with sell orders.
Schmitt [0053] The method can further comprise analyzing the request to identify whether a pattern of historical orders of the participant are associated with a short term investor. The period of time can be a minimum of 5 milliseconds. The period of time can be a maximum of 9 milliseconds.
Schmitt [0276] different rankings for different matching factors may be weighted different using non-zero coefficients so that one matching factor has greater weight than another matching factor
The Applicant states:
“For example, paragraph [0287] of Schmitt describes "continuous order matching" …is therefore completely unrelated to matching user profiles of investment opportunities with profiles of potential investors"
Examiner responds:
Schmitt describes the [0053] “orders of the participant are associated with a short term investor” that have profiles:
Schmitt [0411] An example process flow for investors 904 includes accredited investor on-boarding and profile management...create the investor's username and profile...investor may be assigned a private profile page...investment profiles
Schmitt [0445] may include investor profile services, ... market participant (e.g. dealer, investor) profile services, expert profile services, referral network profile services
Therefore, the rejection under 35 USC § 102/103 remains.
Prior Art Cited But Not Applied
The prior art made of record and not relied upon is considered pertinent to applicant's disclosure:
US Securities and Exchange Commission (“Accredited Investors”, 2025) teaches, Individuals (i.e., natural persons) may qualify as accredited investors if they meet any of the following wealth, income, or financial sophistication criteria:
Net worth over $1 million, excluding primary residence (individually or with spouse or partner)
Income over $200,000 (individually) or $300,000 (with spouse or partner) in each of the prior two years, and reasonably expects the same for the current year.
Conclusion
Applicant's amendment necessitated the new ground(s) of rejection presented in this Office action. Accordingly, THIS ACTION IS MADE FINAL. See MPEP § 706.07(a). Applicant is reminded of the extension of time policy as set forth in 37 CFR 1.136(a). A shortened statutory period for reply to this final action is set to expire THREE MONTHS from the mailing date of this action. In the event a first reply is filed within TWO MONTHS of the mailing date of this final action and the advisory action is not mailed until after the end of the THREE-MONTH shortened statutory period, then the shortened statutory period will expire on the date the advisory action is mailed, and any extension fee pursuant to 37 CFR 1.136(a) will be calculated from the mailing date of the advisory action. In no event, however, will the statutory period for reply expire later than SIX MONTHS from the date of this final action.
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/C.E./Examiner, Art Unit 3695
/CHRISTINE M Tran/Supervisory Patent Examiner, Art Unit 3695