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 .
Claims 1-20 have been examined.
Specification
The abstract of the disclosure is objected to because in the second line of the abstract, “wherein the exchange comprising” should be either “wherein the exchange comprises” or “the exchange comprising”. In the third line, there should be a comma after “the transfer agent”, and preceding “an interface” A corrected abstract of the disclosure is required and must be presented on a separate sheet, apart from any other text. See MPEP § 608.01(b).
Claim Objections
Claims 11-20 are objected to because of the following informalities: at the end of the second line of claim 11, the word “and” should follow “a processor;”. Appropriate correction is required.
Statement Regarding IDS
The Information Disclosure Statement of April 16, 2025, has been considered. On the fifth page of the IDS, item 27 lists “20240044479” as the U.S. Patent Application Publication number for “Lou Craig”, which is an error. The number given corresponds to a publication by Loomis regarding a light socket, which does not appear to be of any relevance to Applicant’s claimed invention, so the item is not initialed. Lou et al. (U.S. Patent Application Publication 2024/0054479) has been considered, and is made of record on the attached Notic of References Cited.
On the sixth page of the IDS, item 32 lists “20025005398” as the U.S. Patent Application Publication number for a publication by Patton (presumably one of the two present inventors). There is no U.S. Patent Application Publication with this number, and Examiner does not know what was intended, so the item is not initialed.
On the seventh page of the IDS, NPL item 6 lists an article as published “Febraru 20, 2024”, so the item is not initialed. The article has been considered, and is made of record with the correct date, and with “New Delhi” in brackets, rather than an opening bracket and an ending single quotation mark.
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 1-20 are rejected under 35 U.S.C. 101 because the claimed invention is directed to a judicial exception (abstract idea) without significantly more.
First, it is determined under Step 1 of the Alice/Mayo test that the claims are directed to a statutory category of invention. See MPEP 2106.03 (II). In the instant case, claims 1-10 are directed to a computer-implemented method, and therefore fall within the statutory category of process. Claims 11-20 are directed to a system comprising a processor and system memory, and therefore fall within the statutory category of machine. Therefore, claims 1-20 are directed to statutory subject matter under Step 1 of the Alice/Mayo test. (Step 1: YES).
The claims are then analyzed to determine whether the claims are directed to a judicial exception. See MPEP 2106.04. The claims are analyzed to evaluate whether they recite a judicial exception (Step 2A, Prong One) as well as analyzed to evaluate whether the claims recite additional elements that integrate the judicial exception into a practical application of the judicial exception (Step 2A, Prong Two). See MPEP 2106.04.
Claims 1-10 are directed to a method for permitting purchase of an interest in an asset, settling a sale of the fractional interest in the asset, etc.; claims 11-20 are directed to a corresponding system. Claims 1-20 are therefore directed to an abstract idea in the category of certain methods of organizing human activity, specifically commercial interactions. (Step 2A, Prong One: YES)
Proceeding to Step 2A, Prong Two, the claims are not directed to any of the specific kinds of limitation that would establish patent eligibility, and do not otherwise apply or use the judicial exception in a meaningful way beyond generally linking the use of the judicial exception to a particular technological environment, such that the claims as a whole are more than a drafting effort to monopolize the exception. (Step 2A, Prong Two: NO)
Next, under Step 2B of the Alice/Mayo test, the claims are analyzed to determine whether there are additional claim limitations that individually, or as an ordered combination, ensure that the claims amount to significantly more than the abstract idea. See MPEP 2106.05. Analysis under Step 2B is largely the same as analysis under Step 2a, Prong Two, and leads to the same conclusion of ineligibility under 35 U.S.C. 101; but there is also the question under Step 2B analysis of whether the claims add a specific limitation other than what is well-understood, routine, and conventional activity in the field.
Independent claim 1 recites (technical features emphasized):
A computer-implemented method comprising:
presenting a user-interface screen depicting an interest in an asset for sale at a listed price;
permitting purchase of the interest in the asset based on the financial position of a buyer including tracking in flight funds between the buyer and accounts external to a transaction system; and
settling a sale of the interest in the asset from a seller to the buyer in accordance with a smart contract, including:
transferring currency from a buyer currency wallet to a seller currency wallet; and
responsive to transferring the currency, transferring one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet.
The steps of claim 1 are largely directed to commercial interactions, rather than technology. The user-interface screen is technological, but Wong et al. (U.S. Patent Application Publication 2020/0301949) discloses (paragraph 67, emphasis added), “User interface 201 optionally may include a conventional display screen (e.g., computer monitor) and optionally includes a web browser.” Hence, the recited user interface screen requires only the use of well-understood, routine, and conventional technology. Also, digital asset wallets may be viewed as technology, but Roach et al. (U.S. Patent Application Publication 2022/0237595) discloses (paragraph 2, emphasis added), “‘Digital wallets’ are well known for enabling users to make digital payments.” Hence, the use of digital wallets requires only the use of well-understood, routine, and conventional technology. The limitations of claim 1, whether considered separately or in combination with each other, do not raise the recited method to significantly more than an abstract idea.
Claim 2, which depends from claim 1, does not recite additional specific technology. Therefore, the limitation of claim 2, whether considered separately or in combination with the limitations of claim 1, does not raise the recited method to significantly more than an abstract idea. Claim 3, which depends from claim 2, recites:
The method of claim 2, wherein checking the balance of the buyer currency wallet comprises checking the balance of the buyer currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein tracking in flight funds between the buyer and accounts external to the transaction system comprises tracking in flight funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
The public immutable ledger may be considered technological, but Vishwakarma et al. (U.S. Patent Application Publication 2022/0237156) discloses (paragraph 3, emphasis added), “As is well-known, a blockchain is a shared immutable ledger for recording a series of transactions.” Hence, the public immutable ledger requires only the use of well-understood, routine, and conventional technology.
Claim 4, which depends from claim 3, recites:
The method of claim 3, further comprising digitally preserving evidence of the sale in a private mutable ledger and the public immutable ledger, including:
recording data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
The private mutable ledger is not significantly technological, as it could read on a paper account book, or on a patch of naturally occurring sand in which someone writes mutably with his finger. Regarding the “public immutable ledger,” Vishwakarma et al. (U.S. Patent Application Publication 2022/0237156) applies to claim 4 as it does to claim 3. Hence, the public immutable ledger requires only the use of well-understood, routine, and conventional technology. Therefore, the limitations of claims 3 and 4, whether considered separately or in combination with each other and with the limitations of claims 1 and 2, do not raise the recited method to significantly more than an abstract idea.
Claim 5, which depends from claim 1, does not recite additional specific technology. Claim 6, which depends from claim 5, does not recite additional specific technology. Therefore, the limitations of claims 5 and 6, whether considered separately or in combination with each other and with the limitations of claim 1, do not raise the recited method to significantly more than an abstract idea.
Claim 7, which depends from claim 1, does not recite additional specific technology. Therefore, the limitations of claim 7, whether considered separately or in combination with each other and with the limitations of claims 1, do not raise the recited method to significantly more than an abstract idea.
Claim 8, which depends from claim 1, recites:
The method of claim 1, further comprising digitally preserving evidence of the sale in a private mutable ledger and a public immutable ledger, including:
recording data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of data resulting from settling the sale in the public immutable ledger.
The private mutable ledger is not significantly technological, as it could read on a paper account book, or on a patch of naturally occurring sand in which someone writes mutably with his finger. Regarding the “public immutable ledger,” Vishwakarma et al. (U.S. Patent Application Publication 2022/0237156) discloses (paragraph 3, emphasis added), “As is well-known, a blockchain is a shared immutable ledger for recording a series of transactions.” Hence, the public immutable ledger requires only the use of well-understood, routine, and conventional technology. Therefore, the limitations of claim 8, whether considered separately or in combination with each other and with the limitations of claims 1, do not raise the recited method to significantly more than an abstract idea.
Claim 9, which depends from claim 1, does not recite additional specific technology. Therefore, the limitations of claim 9, whether considered separately or in combination with each other and with the limitations of claims 1, do not raise the recited method to significantly more than an abstract idea.
Claim 10, which depends from claim 1, does not recite additional specific technology. Therefore, the limitations of claim 10, whether considered separately or in combination with each other and with the limitations of claims 1, do not raise the recited method to significantly more than an abstract idea. (Step 2B, claims 1-10: NO)
Independent claim 11 recites: “A system comprising: a processor; and system memory coupled to the processor and storing instructions configured to cause the processor to” [perform operations corresponding to the steps of method claim 1]. These operations therefore require only well-understood, routine, and conventional technology, based on the disclosures of Wong et al. (U.S. Patent Application Publication 2020/0301949) and Roach et al. (U.S. Patent Application Publication 2022/0237595), as quoted above with regard claim 1. Regarding the processor, memory, and instructions recited in the first four lines of claim 11, Avidan et al. (U.S. Patent Application Publication 2017/0193592) discloses (paragraph 24, emphasis added), “Although not illustrated, it should be appreciated that the ecommerce server 110, the merchant computer 120, and the customer computer 130 each include conventional components, such as a processor and a memory medium storing computer-readable instructions that are executable by the processor to perform various operations including those described herein.” For instructions stored by the memory medium to be executable by the processor to perform various operations, the memory would have to be coupled to the processor. Hence, the recited processor, and system memory coupled to the processor and storing instructions configured to cause the processor to perform operations require only the use of well-understood, routine, and conventional technology. The limitations of claim 11, whether considered separately or in combination, do not raise the recited system to significantly more than an abstract idea.
Claim 12, which depends from claim 11, does not recite additional specific technology. Therefore, the limitations of claim 12, whether considered separately or in combination with each other and with the limitations of claim 11, do not raise the recited system to significantly more than an abstract idea. Claim 13, which depends from claim 12, recites:
The system of claim 12, wherein instructions configured to cause the processor to check the balance of the buyer crypto currency wallet comprise instructions configured to cause the processor to check the balance of the buyer wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein instructions configured to cause the processor to track in flight funds between the buyer and accounts external to the transaction system comprise instructions configured to cause the processor to track in flight crypto currency funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
The public immutable ledger may be considered technological, but Vishwakarma et al. (U.S. Patent Application Publication 2022/0237156) discloses (paragraph 3, emphasis added), “As is well-known, a blockchain is a shared immutable ledger for recording a series of transactions.” Hence, the public immutable ledger requires only the use of well-understood, routine, and conventional technology.
Claim 14, which depends from claim 13, recites:
The system of claim 13, further comprising instructions configured to cause the processor to digitally preserve evidence of the sale in a private mutable ledger and the public immutable ledger, including:
record data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronize the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
The private mutable ledger is not significantly technological, as it could read on a paper account book, or on a patch of naturally occurring sand in which someone writes mutably with his finger. Regarding the “public immutable ledger,” Vishwakarma et al. (U.S. Patent Application Publication 2022/0237156) applies to claim 4 as it does to claim 3. Hence, the public immutable ledger requires only the use of well-understood, routine, and conventional technology. Therefore, the limitations of claims 13 and 14, whether considered separately or in combination with each other and with the limitations of claims 11 and 12, do not raise the recited system to significantly more than an abstract idea.
Claim 15, which depends from claim 11, does not recite additional specific technology. Therefore, the limitations of claim 15, whether considered separately or in combination with each other and with the limitations of claim 11, do not raise the recited system to significantly more than an abstract idea.
Claim 16, which depends from claim 11, does not recite additional specific technology. Therefore, the limitation of claim 16, whether considered separately or in combination with the limitations of claim 11, does not raise the recited system to significantly more than an abstract idea.
Claim 17, which depends from claim 11, does not recite additional specific technology. Therefore, the limitations of claim 17, whether considered separately or in combination with each other and with the limitations of claim 11, do not raise the recited system to significantly more than an abstract idea.
Claim 18, which depends from claim 11, recites:
The system of claim 11, further comprising instructions configured to cause the processor to digitally preserve evidence of the sale in a private mutable ledger and a public immutable ledger, including:
record data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronize the public immutable ledger with the private mutable ledger including recording at least a subset of data resulting from settling the sale in the public immutable ledger.
The private mutable ledger is not significantly technological, as it could read on a paper account book, or on a patch of naturally occurring sand in which someone writes mutably with his finger. Regarding the “public immutable ledger,” Vishwakarma et al. (U.S. Patent Application Publication 2022/0237156) discloses (paragraph 3, emphasis added), “As is well-known, a blockchain is a shared immutable ledger for recording a series of transactions.” Hence, the public immutable ledger requires only the use of well-understood, routine, and conventional technology. Therefore, the limitations of claim 18, whether considered separately or in combination with each other and with the limitations of claims 11, do not raise the recited system to significantly more than an abstract idea.
Claim 19, which depends from claim 11, does not recite additional specific technology. Therefore, the limitations of claim 19, whether considered separately or in combination with each other and with the limitations of claims 11, do not raise the recited method to significantly more than an abstract idea.
Claim 20, which depends from claim 11, does not recite additional specific technology. Therefore, the limitations of claim 20, whether considered separately or in combination with each other and with the limitations of claims 11, do not raise the recited method to significantly more than an abstract idea. (Step 2B, claims 11-20: NO)
Double Patenting
The nonstatutory double patenting rejection is based on a judicially created doctrine grounded in public policy (a policy reflected in the statute) so as to prevent the unjustified or improper timewise extension of the “right to exclude” granted by a patent and to prevent possible harassment by multiple assignees. A nonstatutory double patenting rejection is appropriate where the conflicting claims are not identical, but at least one examined application claim is not patentably distinct from the reference claim(s) because the examined application claim is either anticipated by, or would have been obvious over, the reference claim(s). See, e.g., In re Berg, 140 F.3d 1428, 46 USPQ2d 1226 (Fed. Cir. 1998); In re Goodman, 11 F.3d 1046, 29 USPQ2d 2010 (Fed. Cir. 1993); In re Longi, 759 F.2d 887, 225 USPQ 645 (Fed. Cir. 1985); In re Van Ornum, 686 F.2d 937, 214 USPQ 761 (CCPA 1982); In re Vogel, 422 F.2d 438, 164 USPQ 619 (CCPA 1970); In re Thorington, 418 F.2d 528, 163 USPQ 644 (CCPA 1969).
A timely filed terminal disclaimer in compliance with 37 CFR 1.321(c) or 1.321(d) may be used to overcome an actual or provisional rejection based on nonstatutory double patenting provided the reference application or patent either is shown to be commonly owned with the examined application, or claims an invention made as a result of activities undertaken within the scope of a joint research agreement. See MPEP § 717.02 for applications subject to examination under the first inventor to file provisions of the AIA as explained in MPEP § 2159. See MPEP § 2146 et seq. for applications not subject to examination under the first inventor to file provisions of the AIA . A terminal disclaimer must be signed in compliance with 37 CFR 1.321(b).
The filing of a terminal disclaimer by itself is not a complete reply to a nonstatutory double patenting (NSDP) rejection. A complete reply requires that the terminal disclaimer be accompanied by a reply requesting reconsideration of the prior Office action. Even where the NSDP rejection is provisional the reply must be complete. See MPEP § 804, subsection I.B.1. For a reply to a non-final Office action, see 37 CFR 1.111(a). For a reply to final Office action, see 37 CFR 1.113(c). A request for reconsideration while not provided for in 37 CFR 1.113(c) may be filed after final for consideration. See MPEP §§ 706.07(e) and 714.13.
The USPTO Internet website contains terminal disclaimer forms which may be used. Please visit www.uspto.gov/patent/patents-forms. The actual filing date of the application in which the form is filed determines what form (e.g., PTO/SB/25, PTO/SB/26, PTO/AIA /25, or PTO/AIA /26) should be used. A web-based eTerminal Disclaimer may be filled out completely online using web-screens. An eTerminal Disclaimer that meets all requirements is auto-processed and approved immediately upon submission. For more information about eTerminal Disclaimers, refer to www.uspto.gov/patents/apply/applying-online/eterminal-disclaimer.
Claims 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10 are provisionally rejected on the ground of nonstatutory double patenting as being unpatentable over claims 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10 of copending Application No. 19/301,891 (reference application). Although the claims at issue are not identical, they are not patentably distinct from each other because claim 1 of the instant application is a broader version of claim 1 of the ‘891 application, as may be seen in Table 1 below, where language present in one claim but not a parallel claim is bolded. Claim 1 of the instant application recites “in flight funds” in place of “in fight crypto currency funds”, omits a limitation of claim 1 of the ‘896 application, and then recites “currency” in place of “a second currency”. Claim 2 of the instant application matches claim 2 of the ‘896 application except for being broader by reciting “currency wallet” in place of “crypto currency wallet.” Claim 3 of the instant application matches claim 3 of the ‘896 application except for being broader by reciting “currency wallet” in place of “crypto currency wallet”, and “funds” in place of “crypto currency funds”. Claim 4 of the instant application is directly parallel to claim 4 of the ‘896 application. Claim 5 of the instant application is directly parallel to claim 5 of the ‘896 application. Claim 6 of the instant application is directly parallel to claim 6 of the ‘896 application. Claim 7 of the instant application is directly parallel to claim 7 of the ‘896 application. Claim 8 of the instant application is directly parallel to claim 8 of the ‘896 application. Claim 9 of the instant application is directly parallel to claim 9 of the ‘896 application. Claim 10 of the instant application is directly parallel to claim 10 of the ‘896 application. The claims are all shown in Table 1 below.
This is a provisional nonstatutory double patenting rejection because the patentably indistinct claims have not in fact been patented.
Table 1
Instant Application
Application 19/301,891
1. A computer-implemented method comprising:
presenting a user-interface screen depicting an interest in an asset for sale at a listed price;
permitting purchase of the interest in the asset based on the financial position of a buyer including tracking in flight funds between the buyer and accounts external to a transaction system; and
settling a sale of the interest in the asset from a seller to the buyer in accordance with a smart contract, including:
transferring currency from a buyer currency wallet to a seller currency wallet; and
responsive to transferring the currency, transferring one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet.
2. The method of claim 1, wherein permitting purchase of the interest in the asset based on the financial position of a buyer comprises checking the balance of the buyer currency wallet.
3. The method of claim 2, wherein checking the balance of the buyer currency wallet comprises checking the balance of the buyer currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein tracking in flight funds between the buyer and accounts external to the transaction system comprises tracking in flight funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
4. The method of claim 3, further comprising digitally preserving evidence of the sale in a private mutable ledger and the public immutable ledger, including:
recording data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
5. The method of claim 1, further comprising prior to presenting the user interface screen, registering the seller on the transaction system, including:
verifying the identity of the seller;
verifying that an existing capitalization table indicates the seller is an investor in the asset;
prompting the seller that the seller owns the interest in the asset;
confirming that the seller opts to claim the interest in the asset; and
updating the capitalization table to reflect details of the seller as the investor.
6. The method of claim 5, further comprising, subsequent to settling the sale of the interest in the asset, updating the capitalization table to indicate the sale of the interest in the asset.
7. The method of claim 1, further comprising registering the seller, including:
verifying the seller using one of: a know your customer (KYC) approval process or a know your business (KYB) approval process; and
determining that the seller appears on a capitalization table
8. The method of claim 1, further comprising digitally preserving evidence of the sale in a private mutable ledger and a public immutable ledger, including:
recording data resulting from settling the sale in the private mutable ledger; and semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
9. The method of claim 1, wherein presenting a user-interface screen depicting an interest in an asset for sale at a listed price comprises presenting a user-interface screen depicting the interest in the asset for sale, the asset selected from among: a franchise, a commodity, a natural resource, a private credit, a private debt, or real estate.
10. The method of claim 1, further comprising:
determining that the seller owns a specified number of shares in the asset; and
determining that the depicted interest represents less than all of the specified number of shares; and
wherein transferring the one or more tokens comprises transferring the one or more tokens from the seller to the buyer in accordance with a First In First Out (FIFO) algorithm.
1. A computer-implemented method comprising:
presenting a user-interface screen depicting an interest in an asset for sale at a listed price;
permitting purchase of the interest in the asset based on the financial position of a buyer including tracking in flight funds between the buyer and accounts external to a transaction system; and
settling a sale of the interest in the asset from a seller to the buyer in accordance with a smart contract, including:
transferring crypto currency from a buyer crypto currency wallet to the transaction system;
transferring a second currency from the buyer currency wallet to a seller currency wallet; and
responsive to transferring the second currency, transferring one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet.
2. The method of claim 1, wherein permitting purchase of the interest in the asset based on the financial position of a buyer comprises checking the balance of the buyer crypto currency wallet.
3. The method of claim 2, wherein checking the balance of the buyer crypto currency wallet comprises checking the balance of the buyer crypto currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein tracking in flight crypto currency funds between the buyer and accounts external to the transaction system comprises tracking in flight crypto currency funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
4. The method of claim 3, further comprising digitally preserving evidence of the sale in a private mutable ledger and the public immutable ledger, including:
recording data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
5. The method of claim 1, further comprising prior to presenting the user interface screen, registering the seller on the transaction system, including:
verifying the identity of the seller;
verifying that an existing capitalization table indicates the seller is an investor in the asset;
prompting the seller that the seller owns the interest in the asset;
confirming that the seller opts to claim the interest in the asset; and
updating the capitalization table to reflect details of the seller as the investor.
6. The method of claim 5, further comprising, subsequent to settling the sale of the interest in the asset, updating the capitalization table to indicate the sale of the interest in the asset.
7. The method of claim 1, further comprising registering the seller, including:
verifying the seller using one of: a know your customer (KYC) approval process or a know your business (KYB) approval process; and
determining that the seller appears on a capitalization table
8. The method of claim 1, further comprising digitally preserving evidence of the sale in a private mutable ledger and a public immutable ledger, including: recording data resulting from settling the sale in the private mutable ledger; and semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
9. The method of claim 1, wherein presenting a user-interface screen depicting an interest in an asset for sale at a listed price comprises presenting a user-interface screen depicting the interest in the asset for sale, the asset selected from among: a franchise, a commodity, a natural resource, a private credit, a private debt, or real estate.
10. The method of claim 1, further comprising:
determining that the seller owns a specified number of shares in the asset; and
determining that the depicted interest represents less than all of the specified number of shares; and
wherein transferring the one or more tokens comprises transferring the one or more tokens from the seller to the buyer in accordance with a First In First Out (FIFO) algorithm.
Claims 11, 12, 13, 14, 15, 16, 17, 18, 19, and 20 are provisionally rejected on the ground of nonstatutory double patenting as being unpatentable over claims 11, 12, 13, 14, 15, 16, 17, 18, 19, and 20 of copending Application No. 19/301,891 (reference application). Although the claims at issue are not identical, they are not patentably distinct from each other because claim 11 of the instant application is a broader version of claim 11 of the ‘891 application, as may be seen in Table 2 below, where language present in one claim but not a parallel claim is bolded. Claim 11 of the instant application recites “in flight funds” in place of “in fight crypto currency funds”, omits a limitation of claim 11 of the ‘896 application, and then recites “currency” in place of “a second currency”. Claim 12 of the instant application matches claim 12 of the ‘896 application except for being broader by reciting “currency wallet” in place of “crypto currency wallet.” Claim 13 of the instant application matches claim 13 of the ‘896 application except for being broader by reciting “currency wallet” in place of “crypto currency wallet”, and “funds” in place of “crypto currency funds”. Claim 14 of the instant application is directly parallel to claim 14 of the ‘896 application. Claim 15 of the instant application is directly parallel to claim 15 of the ‘896 application. Claim 16 of the instant application is directly parallel to claim 16 of the ‘896 application. Claim 17 of the instant application is directly parallel to claim 17 of the ‘896 application. Claim 18 of the instant application is directly parallel to claim 18 of the ‘896 application. Claim 19 of the instant application is directly parallel to claim 19 of the ‘896 application. Claim 20 of the instant application is directly parallel to claim 20 of the ‘896 application. The claims are all shown in Table 2 below.
This is a provisional nonstatutory double patenting rejection because the patentably indistinct claims have not in fact been patented.
Table 2
Instant Application
Application 19/301,891
11. A system comprising:
a processor;
system memory coupled to the processor and storing instructions configured to cause the processor to:
present a user-interface screen depicting an interest in an asset for sale at a listed price;
approve purchase of the interest in the asset based on the financial position of a buyer including verifying the buyer including tracking in flight funds between the buyer and accounts external to a transaction system; and
settle a sale of the interest in the asset from a seller to the buyer in accordance with a smart contract, including:
transfer currency from a buyer currency wallet to a seller currency wallet; and
responsive to transferring the currency, transfer one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet.
12. The system of claim 11, wherein instructions configured to cause the processor to permit purchase of the interest in the asset based on the financial position of a buyer comprise instructions configured to cause the processor to check the balance of the buyer currency wallet.
13. The system of claim 12, wherein instructions configured to cause the processor to check the balance of the buyer currency wallet comprise instructions configured to cause the processor to check the balance of the buyer currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein instructions configured to cause the processor to track in flight funds between the buyer and accounts external to the transaction system comprise instructions configured to cause the processor to track in flight funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
14. The system of claim 13, further comprising instructions configured to cause the processor to digitally preserve evidence of the sale in a private mutable ledger and the public immutable ledger, including:
record data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronize the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
15. The system of claim 11, further comprising instructions configured to cause the processor to, prior to presenting the user interface screen, register the seller on the transaction system:
verify the identity of the seller;
verify that an existing capitalization table indicates the seller is an investor in the asset;
prompt the seller that the seller owns the interest in the asset;
confirm that the seller opts to claim the interest in the asset; and
update the capitalization table to reflect details of the seller as the investor.
16. The system of claim 11, further comprising instructions configured to cause the processor to, subsequent to settling the sale of the interest in the asset, update the capitalization table to indicate the sale of the interest in the asset.
17. The system of claim 11, further comprising instructions configured to cause the processor to register the seller, including:
verify the seller using one of: a know your customer (KYC) approval process or a know your business (KYB) approval process; and
determine that the seller appears on a capitalization table.
18. The system of claim 11, further comprising instructions configured to cause the processor to digitally preserve evidence of the sale in a private mutable ledger and a public immutable ledger, including:
record data resulting from settling the sale in the private mutable ledger; and semi-redundantly synchronize the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
19. The system of claim 11, wherein instructions configured to cause the processor to present a user-interface screen depicting an interest in an asset for sale at a listed price comprise instructions configured to cause the processor to present the user-interface screen depicting the interest in the asset for sale, the asset selected from among: a franchise, a commodity, a natural resource, a private credit, a private debt, or real estate.
20. The system of claim 11, further comprising instructions configured to cause the processor to:
determine that the seller owns a specified number of shares in the asset; and
determine that the depicted interest represents less than all of the specified number of shares; and
wherein instructions configured to cause the processor to transfer the one or more tokens comprise instructions configured to cause the processor to transfer the one or more tokens from the seller to the buyer in accordance with a First In First Out (FIFO) algorithm.
11. A system comprising:
a processor;
system memory coupled to the processor and storing instructions configured to cause the processor to:
present a user-interface screen depicting an interest in an asset for sale at a listed price;
approve purchase of the interest in the asset based on the financial position of a buyer including verifying the buyer including tracking in flight crypto currency funds between the buyer and accounts external to a transaction system; and
settle a sale of the interest in the asset from a seller to the buyer in accordance with a smart contract, including:
transfer crypto currency from a buyer crypto currency wallet to the transaction system;
transfer a second currency from the transaction system to a seller currency wallet; and
responsive to transferring the second currency, transfer one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet.
12. The system of claim 11, wherein instructions configured to cause the processor to permit purchase of the interest in the asset based on the financial position of a buyer comprise instructions configured to cause the processor to check the balance of the buyer crypto currency wallet.
13. The system of claim 12, wherein instructions configured to cause the processor to check the balance of the buyer crypto currency wallet comprise instructions configured to cause the processor to check the balance of the buyer crypto currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein instructions configured to cause the processor to track in flight crypto currency funds between the buyer and accounts external to the transaction system comprise instructions configured to cause the processor to track in flight crypto currency funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
14. The system of claim 13, further comprising instructions configured to cause the processor to digitally preserve evidence of the sale in a private mutable ledger and the public immutable ledger, including:
record data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronize the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
15. The system of claim 11, further comprising instructions configured to cause the processor to, prior to presenting the user interface screen, register the seller on the transaction system:
verify the identity of the seller;
verify that an existing capitalization table indicates the seller is an investor in the asset;
prompt the seller that the seller owns the interest in the asset;
confirm that the seller opts to claim the interest in the asset; and
update the capitalization table to reflect details of the seller as the investor.
16. The system of claim 11, further comprising instructions configured to cause the processor to, subsequent to settling the sale of the interest in the asset, update the capitalization table to indicate the sale of the interest in the asset.
17. The system of claim 11, further comprising instructions configured to cause the processor to register the seller, including:
verify the seller using one of: a know your customer (KYC) approval process or a know your business (KYB) approval process; and
determine that the seller appears on a capitalization table.
18. The system of claim 11, further comprising instructions configured to cause the processor to digitally preserve evidence of the sale in a private mutable ledger and a public immutable ledger, including:
record data resulting from settling the sale in the private mutable ledger; and semi-redundantly synchronize the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
19. The system of claim 11, wherein instructions configured to cause the processor to present a user-interface screen depicting an interest in an asset for sale at a listed price comprise instructions configured to cause the processor to present the user-interface screen depicting the interest in the asset for sale, the asset selected from among: a franchise, a commodity, a natural resource, a private credit, a private debt, or real estate.
20. The system of claim 11, further comprising instructions configured to cause the processor to:
determine that the seller owns a specified number of shares in the asset; and
determine that the depicted interest represents less than all of the specified number of shares; and
wherein instructions configured to cause the processor to transfer the one or more tokens comprise instructions configured to cause the processor to transfer the one or more tokens from the seller to the buyer in accordance with a First In First Out (FIFO) algorithm.
Claims 1, 2, 3, 4, 5, 6, 7, and 8 are rejected on the ground of nonstatutory double patenting as being unpatentable over claims 1, 2, 3, 5, 7, and 8 of U.S. Patent No. 12,182,866 in view of Isaacson et al. (U.S. Patent Application Publication 2019/0007381). Claim 1 of the instant application is essentially a broader version of claim 1 of the ‘866 patent. See Table 3 below, where language in claim 1 of the ‘866 patent is shown in bold where it corresponds essentially to limitations of claim 1 of the instant application. Claim 1 of the instant application additionally recites settling a sale “in accordance with a smart contract” (not just a sell contract), but Isaacson teaches (paragraph 673, emphasis added), “The instruction or confirmation of that commitment by the purchaser can be transmitted with 1 Bitcoin to a smart contract, operating on a blockchain technology. The seller of the item can perhaps confirm that they have the product and can deliver tomorrow. The smart contract can transfer the 1 Bitcoin to the merchant and send a notice to the buyer that the item is on the way. Or, the smart contract could be programmed to deliver the 1 Bitcoin when a delivery confirmation occurs.” Hence, use of a smart contract would have been obvious on the date of inventors’ earliest priority, for the obvious advantage of automating operations. Claim 2 of the instant application then corresponds to the “checking the balance of the buyer fiat currency wallet via a master account ledger” step in claim 1 of the ’866 patent. Claim 3 of the instant application corresponds to a slightly broader version of claim 7 of the ’866 patent (see Table 3 below). Claim 4 of the instant application (which depends from claim 3) then corresponds essentially to claim 8 of the ’866 patent. Claim 5 of the instant application corresponds to a broader version of claim 2 of the ‘866 patent (see Table 3 below). Then claim 6 of the instant application (which depends from claim 5) corresponds essentially to claim 3 of the ‘866 patent. Claim 7 of the instant application corresponds to a broader version of claim 5 of the ‘866 patent. Claim 8 of the instant application corresponds essentially to claim 8 of the ‘866 patent. (In Table 3 below, claim 8 of the ‘866 patent is repeated, so as to appear opposite both claim 4 and claim 8 of the instant application).
Table 3
Instant Application
U.S. Patent 12,182,866
1. A computer-implemented method comprising:
presenting a user-interface screen depicting an interest in an asset for sale at a listed price;
permitting purchase of the interest in the asset based on the financial position of a buyer including tracking in flight funds between the buyer and accounts external to a transaction system; and
settling a sale of the interest in the asset from a seller to the buyer in accordance with a smart contract, including:
transferring currency from a buyer currency wallet to a seller currency wallet; and
responsive to transferring the currency, transferring one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet.
2. The method of claim 1, wherein permitting purchase of the interest in the asset based on the financial position of a buyer comprises checking the balance of the buyer currency wallet.
3. The method of claim 2, wherein checking the balance of the buyer currency wallet comprises checking the balance of the buyer currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein tracking in flight funds between the buyer and accounts external to the transaction system comprises tracking in flight funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
4. The method of claim 3, further comprising digitally preserving evidence of the sale in a private mutable ledger and the public immutable ledger, including:
recording data resulting from settling the sale in the private mutable ledger; and
semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
5. The method of claim 1, further comprising prior to presenting the user interface screen, registering the seller on the transaction system, including:
verifying the identity of the seller;
verifying that an existing capitalization table indicates the seller is an investor in the asset;
prompting the seller that the seller owns the interest in the asset;
confirming that the seller opts to claim the interest in the asset; and
updating the capitalization table to reflect details of the seller as the investor.
6. The method of claim 5, further comprising, subsequent to settling the sale of the interest in the asset, updating the capitalization table to indicate the sale of the interest in the asset.
7. The method of claim 1, further comprising registering the seller, including:
verifying the seller using one of: a know your customer (KYC) approval process or a know your business (KYB) approval process; and
determining that the seller appears on a capitalization table.
8. The method of claim 1, further comprising digitally preserving evidence of the sale in a private mutable ledger and a public immutable ledger, including:
recording data resulting from settling the sale in the private mutable ledger; and semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger.
1. An Alternative Trading System (ATS) computer-implemented method comprising:
registering a user on the ATS, including allowing computing resources for a user fiat currency wallet corresponding to the user at the ATS and allowing computing resources for a user digital asset wallet corresponding to the user at the ATS;
formulating one or more tokens representing a fractional interest in an asset[;]
storing the one or more tokens in the user digital asset wallet; presenting a user-interface listing at a user-interface defining the user as permitted to sell the fractional interest in the asset at the ATS;
receiving, at the user-interface, a user selection of the user-interface listing indicative of the user desiring sale of the fractional interest in the asset;
in response to receiving the user selection, automatically generating a sell contract for the asset; and
transmitting the sell contract to the user;
pairing a buyer with the user at the ATS, including:
presenting another user-interface listing at another user-interface defining the fractional interest in the asset listed by price;
upon selection of the other user-interface listing, automatically:
redirecting the other user-interface to a purchase screen that includes the fractional interest in the asset listed by price; and
approving purchase of the fractional interest in the asset based on the financial position of the buyer within the ATS including verifying the buyer has adequate funds to settle purchase of the fractional interest in the asset in view of the listed price, including:
checking the balance of the buyer fiat currency wallet via a master account ledger;
tracking in flight funds between the buyer and accounts external to the ATS via an escrow ledger;
settling a sale of the fractional interest in the asset from the user to the buyer in accordance with the sell contract, including:
transferring fiat currency from buyer fiat currency wallet to the user fiat currency wallet; and
automatically and in response to transferring the fiat currency, transferring the one or more tokens from the user digital asset wallet to a buyer digital asset wallet; and
automatically and in response to settling the sale of the fractional interest in the asset, updating the user-interface removing the user-interface listing at the user-interface and updating the other user-interface removing the other user-interface listing at the other user-interface.
7. The method of claim 1, wherein checking the balance of the buyer fiat currency wallet comprises checking the balance of the buyer fiat currency wallet via the master account ledger maintained in a public immutable ledger at the ATS; and
wherein tracking in flight funds between the buyer and accounts external to the ATS via an escrow ledger comprises tracking in flight funds between the buyer and accounts external to the ATS via the escrow ledger maintained in the public immutable ledger at the ATS.
8. The method of claim 7, further comprising:
recording transaction data associated with settling the sale of the fractional interest in the asset in a private mutable ledger; and
semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data in the public immutable ledger.
2. The method of claim 1, wherein registering a user on the ATS comprises:
verifying the identity of the seller;
communicating that the user has completed registration;
verifying that an existing capitalization table indicates the user is an investor in the asset;
prompting the user that the user owns the fractional interest in the asset;
confirming that the user opts to claim the fractional interest in the asset; and
updating the capitalization table to reflect details of the user as the investor and a portfolio of the user to reflect current user investments.
3. The method of claim 2, further comprising updating the existing capitalization table to reflect sale of the fractional interest in the asset to the buyer.
5. The method of claim 1, wherein registering a user on the ATS comprises:
verifying the user using one of a know your customer (KYC) approval process or a know your business (KYB) approval process;
confirming that the user is authorized to access the ATS; and
determining whether the user appears on a capitalization table that exists within the ATS.
8. The method of claim 7, further comprising:
recording transaction data associated with settling the sale of the fractional interest in the asset in a private mutable ledger; and
semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data in the public immutable ledger.
Claims 11, 12, 13, 15, and 17 are rejected on the ground of nonstatutory double patenting as being unpatentable over claims 12, 13, 14, and 16 of U.S. Patent No. 12,182,866 in view of Isaacson et al. (U.S. Patent Application Publication 2019/0007381). Claim 11 of the instant application is essentially a broader version of claim 12 of the ‘866 patent. See Table 4 below, where language in claim 12 of the ‘866 patent is shown in bold where it corresponds essentially to limitations of claim 11 of the instant application. Claim 11 of the instant application additionally recites settling a sale “in accordance with a smart contract” (not just a sell contract), but Isaacson teaches (paragraph 673, emphasis added), “The instruction or confirmation of that commitment by the purchaser can be transmitted with 1 Bitcoin to a smart contract, operating on a blockchain technology. The seller of the item can perhaps confirm that they have the product and can deliver tomorrow. The smart contract can transfer the 1 Bitcoin to the merchant and send a notice to the buyer that the item is on the way. Or, the smart contract could be programmed to deliver the 1 Bitcoin when a delivery confirmation occurs.” Hence, use of a smart contract would have been obvious on the date of inventors’ earliest priority, for the obvious advantage of automating operations. Claim 12 of the instant application then corresponds to the “check the balance of the buyer fiat currency wallet via a master account ledger” operation in claim 12 of the ’866 patent. Claim 13 of the instant application corresponds to a slightly broader version of claim 16 of the ’866 patent (see Table 4 below). Claim 15 of the instant application corresponds to a broader version of claim 13 of the ’866 patent (see Table 4 below). Claim 17 of the instant application corresponds to a broader version of claim 14 of the ’866 patent (see Table 4 below).
Table 4
Instant Application
U.S. Patent 12,182,866
11. A system comprising:
a processor;
system memory coupled to the processor and storing instructions configured to cause the processor to:
present a user-interface screen depicting an interest in an asset for sale at a listed price;
approve purchase of the interest in the asset based on the financial position of a buyer including verifying the buyer including tracking in flight funds between the buyer and accounts external to a transaction system; and
settle a sale of the interest in the asset from a seller to the buyer in accordance with a smart contract, including:
transfer currency from a buyer currency wallet to a seller currency wallet; and
responsive to transferring the currency, transfer one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet.
12. The system of claim 11, wherein instructions configured to cause the processor to permit purchase of the interest in the asset based on the financial position of a buyer comprise instructions configured to cause the processor to check the balance of the buyer currency wallet.
13. The system of claim 12, wherein instructions configured to cause the processor to check the balance of the buyer currency wallet comprise instructions configured to cause the processor to check the balance of the buyer currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system; and
wherein instructions configured to cause the processor to track in flight funds between the buyer and accounts external to the transaction system comprise instructions configured to cause the processor to track in flight funds between the buyer and accounts external to the transaction system via an escrow ledger maintained in the public immutable ledger at the transaction system.
15. The system of claim 11, further comprising instructions configured to cause the processor to, prior to presenting the user interface screen, register the seller on the transaction system:
verify the identity of the seller;
verify that an existing capitalization table indicates the seller is an investor in the asset;
prompt the seller that the seller owns the interest in the asset;
confirm that the seller opts to claim the interest in the asset; and
update the capitalization table to reflect details of the seller as the investor.
17. The system of claim 11, further comprising instructions configured to cause the processor to register the seller, including:
verify the seller using one of: a know your customer (KYC) approval process or a know your business (KYB) approval process; and
determine that the seller appears on a capitalization table.
12. An Alternative Trading System (ATS), comprising:
a processor;
system memory coupled to the processor and storing instructions configured to cause the processor to:
register a user on the ATS, including allowing computing resources for a user fiat currency wallet corresponding to the user at the ATS and allowing computing resources for a user digital asset wallet corresponding to the user at the ATS;
formulate one or more tokens representing a fractional interest in an asset store the one or more tokens in the user digital asset wallet;
present a user-interface listing at a user-interface defining the user as permitted to sell the fractional interest in the asset at the ATS;
receive, at the user-interface, a user selection of the user-interface listing indicative of the user desiring sale of the fractional interest in the asset;
in response to receiving the user selection, automatically:
generate a sell contract for the asset; and
transmit the sell contract to the user;
pair a buyer with the user at the ATS, including:
present another user-interface listing at another user-interface defining the fractional interest in the asset listed by price; and
upon selection of the other user-interface listing, automatically:
redirect the other user-interface to a purchase screen that includes the fractional interest in the asset listed by price; and
approve purchase of the fractional interest in the asset based on the financial position of the buyer within the ATS including verifying the buyer has adequate funds to settle purchase of the fractional interest in the asset in view of the listed price, including:
check the balance of the buyer fiat currency wallet via a master account ledger; and
track in flight funds between the buyer and accounts external to the ATS via an escrow ledger;
settle a sale of the fractional interest in the asset from the user to the buyer in accordance with the sell contract, including:
transfer fiat currency from buyer fiat currency wallet to the user fiat currency wallet; and
automatically and in response to transferring the fiat currency, transfer the one or more tokens from the user digital asset wallet to a buyer digital asset wallet; and
automatically and in response to settling the sale of the fractional interest in the asset, updating the user-interface removing the user-interface listing at the user-interface and updating the other user-interface removing the other user-interface listing at the other user-interface.
16. The system of claim 12, wherein instructions configured to cause processor to check the balance of the buyer fiat currency wallet via a master account ledger comprise instructions configured to cause the processor to check the balance of the buyer fiat currency wallet via the master account ledger maintained in a public immutable ledger at the ATS; and
wherein instructions configured to cause the processor to track in flight funds between the buyer and accounts external to the ATS via an escrow ledger comprise instructions configured to cause the processor to track in flight funds between the buyer and accounts external to the ATS via the escrow ledger maintained in the public immutable ledger at the ATS.
13. The system of claim 12, wherein instructions configured to cause the processor to register a user at the ATS instructions configured to cause the processor to:
verify the identity of the user;
communicate that the user has completed registration;
verify that an existing capitalization table indicates the user is an investor in the asset;
prompt the user that the user owns the fractional interest in the asset;
confirm that the user opts to claim the fractional interest in the asset; and
update the capitalization table to reflect details of the user as the investor and a portfolio of the user to reflect current user investments.
14. The system of claim 12, wherein instructions configured to cause the processor to register a user at the ATS comprise instructions configured to cause the processor to:
verify the user using one of: a know your customer (KYC) approval process or a know your business (KYB) approval process;
confirm that the user is authorized to access the ATS; and
determine whether the user appears on a capitalization table that exists within the ATS.
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 (i.e., changing from AIA to pre-AIA ) 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.
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.
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.
Claims 1, 2, 9, 11, 12, and 19 are rejected under 35 U.S.C. 103 as being unpatentable over Isaacson et al. (U.S. Patent Application Publication 2019/0007381) in view of Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), and Meltzer et al. (U.S. Patent Application Publication 2021/0233200). As per claim 1, Isaacson discloses a computer-implemented method (e.g., Figures 1 and 7); also (paragraph 210, emphasis added), “The logical operations of the various examples are implemented as: (1) a sequence of computer implemented steps, operations, or procedures running on a programmable circuit within a general use computer, (2) a sequence of computer implemented steps, operations, or procedures running on a specific-use programmable circuit; and/or (3) interconnected machine modules or program engines within the programmable circuits. The system 700 shown in FIG. 7 can practice all or part of the recited methods, can be a part of the recited systems, and/or can operate according to instructions in the recited computer-readable storage devices.”
Isaacson discloses a screen depicting an asset for sale (Figure 34A), but not with a listed price. Armstrong teaches presenting a user-interface screen depicting an interest in an asset for sale at a listed price (column 8, lines 60-62, emphasis added), “In various embodiments, the screen 500 may list each investment and provide basic information such as a description, a current share price, and a status (e.g., open, closed).” Armstrong further teaches (column 9, lines 9-10, emphasis added), “It should be appreciated that the price may be listed in actual dollars or in rewards currency.” See also Figure 6 of Armstrong. Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority to present a user-interface screen depicting an interest in an asset for sale at a listed price, for such obvious advantages as enabling potential buyers to know how much an asset cost, and to be able to judge whether it would be in their interest to buy the asset.
Isaacson does not disclose permitting purchase of the interest in the asset based on the financial position of a buyer including tracking in flight crypto currency funds between the buyer and accounts external to the transaction system, but Auerbach teaches permitting purchase or other withdrawal based on a financial position of a buyer or other user, including verifying that the buyer or other user has sufficient funds, and checking a balance via an account ledger (column 67, lines 31-41, emphasis added), "In a step S4910, the exchange computer may verify that a digital asset account associated with the customer contains sufficient digital assets to cover the requested withdrawal amount. In embodiments, such verification can comprise reading a digital asset electronic ledger and/or determining a customer digital account balance, e.g., based on summing transactions recorded on a digital asset electronic ledger. In a step S4912, the exchange computer may update an exchange digital asset electronic ledger to reflect the pending withdrawal." Similar language is found in column 218, lines 47-64 of Auerbach. Auerbach does not disclose tracking in flight funds between the buyer and accounts external to a transaction system, but Tompkins teaches tracking the flight of currency funds between a user and an external account (column 19, lines 4-22, emphasis added), “Each account ledger can reflect a positive balance when funds are added to the corresponding account. An account can be funded by transferring currency in the form associated with the account from an external account (e.g., transferring a value of cryptocurrency to the P2P payment platform and/or payment processing platform and the value is credited as a balance in cryptocurrency ledger 434), by purchasing currency in the form associated with the account using currency in a different form (e.g., buying a value of currency from the P2P payment platform and/or payment processing platform using a value of fiat currency reflected in fiat currency ledger 206, and crediting the value of cryptocurrency in cryptocurrency ledger 434), or by conducting a transaction with another user (customer or merchant) of the P2P payment platform and/or payment processing platform wherein the account receives incoming currency (which can be in a form associated with the account or a different form, wherein the incoming currency may be converted to the form associated with the account).”
Tompkins further teaches (column 19, lines 40-50, emphasis added), “With specific reference to funding a cryptocurrency account, a user may have a balance of cryptocurrency stored in another cryptocurrency wallet. In some examples, the other cryptocurrency wallet can be associated with a third-party (e.g., associated with the third-party server(s) 120) unrelated to the P2P payment platform and/or payment processing platform (i.e., an external account). In at least one example, the user can transfer all or a portion of the cryptocurrency stored in the other cryptocurrency wallet to the P2P payment platform and/or payment processing platform.” Tompkins further teaches (column 19, lines 57-64, emphasis added), “Once a miner has verified the block, the block is written to a public, distributed blockchain where the P2P payment platform and/or payment processing platform can then verify that the transaction has been confirmed, and can credit the user’s cryptocurrency ledger 434 with the transferred amount. When an account is funded by transferring cryptocurrency from a third-party cryptocurrency wallet, an update can be made to the public blockchain.” Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority to permit purchase of the interest in the asset based on the financial position of the buyer including tracking in flight funds between the buyer and the account external to a transaction system, for such obvious advantages as assuring that the seller of the interest in the asset will receive payment, and having the buyer’s currency balance reflect relevant transactions, including transactions with external accounts.
Isaacson discloses settling a sale of an asset from a seller to a buyer in accordance with a smart contract, and transferring currency from a buyer currency wallet to a seller currency wallet (paragraph 673, emphasis added), “In one example, a smart contract can be used for all or part of the processing disclosed herein. For example, assume that the user interface of a merchant site provides an options for a user to buy an item using their altcoin. The user confirms the purchase with a ‘pay’ button. The amount say is 1 Bitcoin. The instruction or confirmation of that commitment by the purchaser can be transmitted with 1 Bitcoin to a smart contract, operating on a blockchain technology. The seller of the item can perhaps confirm that they have the product and can deliver tomorrow. The smart contract can transfer the 1 Bitcoin to the merchant and send a notice to the buyer that the item is on the way. Or, the smart contract could be programmed to deliver the 1 Bitcoin when a delivery confirmation occurs. . . . Thus, in this respect, the disclosure covers all communications, requests, responses, and data communicated between a merchant site, through an API, to a browser, altcoin wallet, smart contract, and/or other agent to achieve a one-click purchasing option of using altcoins for payment in the same fashion as a regular payment account.”
Isaacson further discloses transferring crypto currency from a buyer currency wallet to a seller currency wallet (paragraph 668, emphasis added), “The buy button and follow on screens that are part of the purchasing process can include a blending of the interface with access to the cryptocurrency wallet for the buyer. Thus, the interface could include a portion that is connected to or triggers payment through a traditional payment account, and another portion that is associated with the buyer’s wallet for cryptocurrency. The user could be presented with a buy option to pay with Visa, Mastercard or cryptocurrency. If the user chooses the cryptocurrency, then the system enables the interaction with the wallet such that through accessing automatically or manually, the user’s private key is provided or accessed. . . . The merchant can provide their address and once the buyer provides their private key, the transmission of the cryptocurrency from the buyer to the seller for the appropriate amount for the product can be achieved.”
Isaacson is suggestive of transferring an asset in exchange for payment, and discloses automation with a smart contract (e.g., paragraph 673, quoted from above), but does not expressly disclose responsive to transferring the second currency, transferring one or more tokens representing the interest in the asset from a seller digital asset wallet to a buyer digital asset wallet. However, Meltzer teaches transferring tokens to a buyer wallet in response to confirmation of payment (paragraph 46, emphasis added), “Management system 104 further includes message processing API 408 that accepts input messages indicating confirmation of payment by a customer and in response transfer tokens from an administrator wallet to a customer wallet.” Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority to, responsive to transferring the second currency, transfer one or more tokens representing the interest in the asset from a seller digital wallet to a buyer digital asset wallet, for the obvious advantage of enabling the buyer to document ownership of the interest in an asset for which he has duly made payment.
As per claim 11, claim 11 is a system claim parallel to method claim 1, and obvious largely on the same grounds. Isaacson discloses a processor and memory in Figure 7, with a bus connecting them. Isaacson discloses (paragraph 205, emphasis added), “With reference to FIG. 7, an exemplary system and/or computing device 700 includes a processing unit (CPU or processor) 720 and a system bus 710 that couples various system components including the system memory 730 such as read only memory (ROM) 740 and random access memory (RAM) 750 to the processor 720. . . . The processor 720 can include any general purpose processor and a hardware module or software module, such as module 1 762, module 2 764, and module 3 766 stored in storage device 760, configured to control the processor 720 as well as a special purpose processor where software instructions are incorporated into the processor.”
As per claim 2 and parallel claim 12, Auerbach teaches checking the balance of a buyer or other user wallet (column 67, lines 31-41, emphasis added), "In a step S4910, the exchange computer may verify that a digital asset account associated with the customer contains sufficient digital assets to cover the requested withdrawal amount. In embodiments, such verification can comprise reading a digital asset electronic ledger and/or determining a customer digital account balance, e.g., based on summing transactions recorded on a digital asset electronic ledger. In a step S4912, the exchange computer may update an exchange digital asset electronic ledger to reflect the pending withdrawal." Also, Isaacson discloses transferring crypto currency from a buyer’s crypto currency wallet (paragraph 668, emphasis added), “The buy button and follow on screens that are part of the purchasing process can include a blending of the interface with access to the cryptocurrency wallet for the buyer. Thus, the interface could include a portion that is connected to or triggers payment through a traditional payment account, and another portion that is associated with the buyer’s wallet for cryptocurrency. The user could be presented with a buy option to pay with Visa, Mastercard or cryptocurrency. If the user chooses the cryptocurrency, then the system enables the interaction with the wallet such that through accessing automatically or manually, the user’s private key is provided or accessed. . . . The merchant can provide their address and once the buyer provides their private key, the transmission of the cryptocurrency from the buyer to the seller for the appropriate amount for the product can be achieved.” Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority for permitting purchase of the interest in the asset based on the financial position of the customer to comprise checking the balance of the buyer currency wallet, for the obvious advantage of thereby determining the buyer’s ability to make a sufficient payment.
As per claim 9 and parallel claim 19, the hat shown in Figure 34A of Isaacson arguably may qualify as a commodity. Armstrong teaches at least commodities and real estate (column 3, lines 23-30, emphasis added), “For purposes of this disclosure and claims the term ‘investment’ will be interpreted broadly to refer to any type of investment, including but not limited to a particular security (e.g., stock, bond mutual fund, etc.), a piece of real property (e.g., house, condominium, apartment, land, etc.), a tangible asset (boat, plane, piece of art, etc.), a commodity (gold, silver, platinum), a credit card balance backed security, or an options contract.” Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority for presenting a user-interface screen depicting an interest in an asset for sale to comprise presenting a user-interface depicting the interest in the asset for sale, the asset selected from among: a franchise, a commodity, a natural resource, a private credit, a private debt, for the obvious advantage of depicting well-known types of assets, investments assets in particular, which are commonly offered for sale, and commonly of interest to buyers.
Claims 3 and 13 are rejected under 35 U.S.C. 103 as being unpatentable over Isaacson et al. (U.S. Patent Application Publication 2019/0007381), Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), and Meltzer et al. (U.S. Patent Application Publication 2021/0233200) as applied to claim 2 above (for claim 3) and claim 12 above (for claim 13), and further in view of Robison et al. (U.S. Patent Application Publication 2019/0266334). Isaacson does not disclose checking the balance of the buyer crypto currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system, but does disclose a public ledger (paragraph 677, emphasis added), “The first blockchain was conceptualized by Satoshi Nakamoto in 2008 and implemented the following year as a core component of the digital currency bitcoin, where it serves as the public ledger for all transactions.” Further, Robison teaches a public immutable ledger and also an escrow agent (paragraph 28, emphasis added), “The process involves a user device 402, a user 404, an escrow agent 406, a requestor 408, and a ledger 410. Escrow agent 406 can be a verifiable, trusted and immutable program execution platform for running the key management processes. In various embodiments, the escrow agent 406 can be implemented using smart contracts to ensure the escrow agent code is free from tampering. Ledger 410 can be a public or shared immutable ledger that ensures the user’s recovery keys are always available. In various embodiments, the ledger can be implemented as a blockchain ledger.” See also Figure 4. Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority to check the balance of the buyer currency wallet via a master account ledger maintained in a public immutable ledger at the transaction system, for at least the obvious advantage of making fraud or alteration of data readily detectable via the immutable public ledger. Likewise, given the involvement of the escrow agent, the public immutable ledger can be considered an escrow ledger, making tracking in flight crypto currency funds between the buyer and accounts external to the transaction system comprise tracking in flight crypto currency funds between the buyer and accounts external to the transaction system via an escrow ledger maintained at the public immutable ledger at the transaction system.
Claim 16 is rejected under 35 U.S.C. 103 as being unpatentable over Isaacson et al. (U.S. Patent Application Publication 2019/0007381), Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), and Meltzer et al. (U.S. Patent Application Publication 2021/0233200) as applied to claim 11 above and further in view of Cohan (U.S. Patent 8,046,295). Cohan discloses updating a capitalization table (column 13, lines 9-12, emphasis added), “When options are exercised, the traunche calculator recalculates the shares available to be exercised, and the capitalization table in FIG. 4 is automatically updated.” Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority, subsequent to settling the sale of the interest in the asset, to update the capitalization table to indicate the sale of the interest in the asset, for at least the obvious advantage of having the capitalization table reflect current ownership, e.g., for use in determining whether future sellers actually owned the interests in assets which they might seek to offer for sale to buyers.
Claims 10 and 20 are rejected under 35 U.S.C. 103 as being unpatentable over Isaacson et al. (U.S. Patent Application Publication 2019/0007381), Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), and Meltzer et al. (U.S. Patent Application Publication 2021/0233200) as applied to claim 1 above (for claim 10) and claim 11 above (for claim 20), and further in view of Wahlberg et al. (U.S. Patent 7,962,387). Isaacson does not disclose determining that the seller owns a specified number of shares in the asset, determining that the depicted interest represents less than all of the specified number of shares, and wherein transferring the one or more tokens comprises transferring the one or more tokens in accordance with a First In First Out (FIFO) algorithm. However Wahlberg teaches (column 10, lines 23-25, emphasis added), “Determining which specific shares in a lot to convert may be determined by using a FIFO (First-In-First-Out), LIFO (Last-In-First-Out) pro-rata, or any similar methods.” The issue of using FIFO or some other method when transferring the one or more tokens would not arise if all of the seller’s shares were being sold. Hence, it would have been obvious to one of ordinary skill in the art of electronic commerce on the date of inventors’ earliest priority for transferring the one or more tokens to comprise transferring the one or more tokens in accordance with a First In First Out (FIFO) algorithm, for the obvious advantage of applying a standard procedure in accounting and inventory management, and to determine at the seller owns a specified number of shares in the asset, and to determine that the depicted interest represents less than all of the specified number of shares, for the obvious advantage of being able to decide that FIFO (or some alternative algorithm) was necessary or suitable.
Non-Obvious Subject Matter
Claim 4 and parallel claim 14 are rejected under 35 U.S.C. 101, and rejected for double patenting, but recite non-obvious subject matter.
The following is a statement of reasons for the indication of non-obvious subject matter: The closest prior art of record, Isaacson et al. (U.S. Patent Application Publication 2019/0007381), discloses elements of claims 1, 2, and 3, and parallel claims 11, 12, and 13, with further limitations taught by Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), Meltzer et al. (U.S. Patent Application Publication 2021/0233200), and Robison et al. (U.S. Patent Application Publication 2019/0266334), as set forth above. Neither Isaacson, Robison, nor any other of the references applied discloses preserving evidence of the sale in in a private mutable ledger and the public immutable ledger; and semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger. Synchronizing ledgers is not novel, but the prior art of record does not disclose, teach, or reasonably suggest the specific limitations recited, and it would not likely be reasonable to combine yet further references with the existing six to arrive at the recited limitations.
Claims 5 and 6 are rejected under 35 U.S.C. 101, and rejected for double patenting, but recite non-obvious subject matter.
Claim 15 is rejected under 35 U.S.C. 101, and objected to for an informality, but recites non-obvious subject matter.
The following is a statement of reasons for the indication non-obvious subject matter: The closest prior art of record, Isaacson et al. (U.S. Patent Application Publication 2019/0007381), discloses elements of claim 1 and parallel claim 11, with further limitations taught by Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), and Meltzer et al. (U.S. Patent Application Publication 2021/0233200), as set forth above. Isaacson and the other four references applied to claims 1 and 11 do not disclose, teach, or reasonably suggest, prior to presenting the user interface screen, registering the seller on the transaction system, comprising: verifying the identity of the seller; verifying that an existing capitalization table indicates the seller is an investor in the asset; prompting the seller that the seller owns the interest in the asset; confirming that the seller opts to claim the interest in the asset; and updating the capitalization table to reflect details of the seller as the investor. Cohan (U.S. Patent 8,046,295) discloses updating a capitalization table (column 13, lines 9-12, emphasis added), “When options are exercised, the traunche calculator recalculates the shares available to be exercised, and the capitalization table in FIG. 4 is automatically updated.” However, neither Cohan nor any other prior art of record sufficiently supplies the deficiencies of Isaacson and the other four references applied to claims 1 and 11.
Claim 7 and parallel claim 17 are rejected under 35 U.S.C. 101, and rejected for double patenting, but recite non-obvious subject matter.
The following is a statement of reasons for the indication of non-obvious subject matter: The closest prior art of record, Isaacson et al. (U.S. Patent Application Publication 2019/0007381), discloses elements of claim 1 and parallel claim 11, with further limitations taught by Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), and Meltzer et al. (U.S. Patent Application Publication 2021/0233200), as set forth above. Auerbach further teaches a Know Your Customer (KYC) or Know Your Business (KYB) approval process (column 61, line 66, through column 62, line 5, emphasis added), “In embodiments, these user or account verification procedures may comprise participating with third-party vendors in connection with certain Know Your Customer services. In embodiments, an exchange may implement alternative anti-money laundering (AML) measures.”
Cohan (U.S. Patent 8,046,295) discloses updating a capitalization table (column 13, lines 9-12, emphasis added), “When options are exercised, the traunche calculator recalculates the shares available to be exercised, and the capitalization table in FIG. 4 is automatically updated.” Other references of record also disclose capitalization tables. However, neither Cohan nor any other prior art of record expressly discloses determining that the seller appears on a capitalization table. There is insufficient motivation to combine Cohan or another reference with the five existing references applied to claims 1 and 11 to arrive at the limitations of claim 17.
Claim 8 and parallel claim 18 are rejected under 35 U.S.C. 101, and rejected for double patenting, but recite non-obvious subject matter.
The following is a statement of reasons for the indication of non-obvious subject matter: The closest prior art of record, Isaacson et al. (U.S. Patent Application Publication 2019/0007381), discloses elements of claim 1 and parallel claim 11, with further limitations taught by Armstrong (U.S. Patent 8,131,590), Auerbach et al. (U.S. Patent 12,093,942), Tomkins et al. (U.S. Patent 11,276,054), and Meltzer et al. (U.S. Patent Application Publication 2021/0233200), as set forth above. Isaacson further discloses (paragraph 677, emphasis added), “The first blockchain was conceptualized by Satoshi Nakamoto in 2008 and implemented the following year as a core component of the digital currency bitcoin, where it serves as the public ledger for all transactions.”
Further, Robison et al. (U.S. Patent Application Publication 2019/0266334) teaches a public immutable ledger (paragraph 28, emphasis added), “Ledger 410 can be a public or shared immutable ledger that ensures the user’s recovery keys are always available. In various embodiments, the ledger can be implemented as a blockchain ledger.” However, Isaacson, Robison, and the other prior art references of record do not disclose preserving evidence of the sale in a private mutable ledger and a public immutable ledger, including: recording data resulting from settling the sale in the private mutable ledger; and semi-redundantly synchronizing the public immutable ledger with the private mutable ledger including recording at least a subset of the data resulting from settling the sale in the public immutable ledger. Synchronizing ledgers is not novel, but the prior art of record does not disclose, teach, or reasonably suggest the specific limitations recited, and it would not likely be reasonable to combine yet further references with the five already applied to claims 1 and 11 to arrive at the recited limitations.
Conclusion
The prior art made of record and not relied upon is considered pertinent to applicant's disclosure. Baratam (U.S. Patent 11,200,568) discloses a computer-implemented method, a computer system, and a cryptocurrency depository for enabling secure escrow and safekeeping of a cryptocurrency. Patton et al. (U.S. Patent 12,288,259) has been considered for possible double patenting (rejections not made).
Baratam (U.S. Patent Application Publication 2019/0213586) discloses a computer-implemented method, a computer system, and a cryptocurrency depository for enabling secure escrow and safekeeping of a cryptocurrency. Patton et al. (U.S. Patent Application Publication 2026/0134471) is a publication of U.S. Patent Application Number 19/301,891, used to make double patenting rejections. Patton et al. (U.S. Patent Application Publication 2026/0212413) has been considered for possible double patenting (rejections not made).
Fujimoto et al., “Proposal of a smart contract-based security token management system,” discloses the use of tokenization to enable such benefits as online completed ownership transfer and sharing ownership of assets such as real estate.
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/NICHOLAS D ROSEN/ Primary Examiner, Art Unit 3689 September 22, 2026
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