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  Systems and methods for providing a personalized exchange marketThe Patent Description & Claims data below is from USPTO Patent Application 20070185808. Brief Patent Description - Full Patent Description - Patent Application Claims
PRIORITY CLAIM [0001]This application claims priority to U.S. Provisional Application 60/766,663 filed Feb. 3, 2006 (Our Ref: MOSC-1-1001) and U.S. Provisional Application 60/767,328 filed Mar. 17, 2006 (Our Ref: MOSC-1-1001.1). The foregoing applications are hereby incorporated by reference in their entirety as if fully set forth herein. FIELD OF THE INVENTION [0002]This invention relates to systems and methods for providing a personalized exchange market, and more specifically, to systems and methods for establishing personalized pledge agreements for uncertain future events or occurrences. BACKGROUND OF THE INVENTION [0003]The future is inherently uncertain. This uncertainty encompasses uncertain future events or occurrences at both the macro- and micro-levels. Uncertain future events or occurrences may include anything in the future, including outcomes, measurements, processes, developments, discoveries and, of course, events or occurrences. Further, the uncertainty is indiscriminate to the time frame for which it operates, for both near and future events or occurrences may have a degree of unpredictability. For instance, it is uncertain whether inflation will rise, fall, or stay the same in the coming months. It is also uncertain whether, and to what degree, the price of a family home will increase, decrease, or stay the same over a given time period. And, it is uncertain whether a single child will marry before a certain age or remain a dependent until a certain age. Indeed, the uncertainty encompasses all perspective levels, from broad to narrow, for all future time periods, for all tangible and intangible subject matter. For many, this uncertainty brings excitement; however, the uncertainty also presents the risk that certain events or occurrences do not occur as anticipated, leading in some instances to financial losses or disappointment. In these instances, it would be desirable to predict, manage, guarantee, assure, or speculate in risks for future uncertain events or occurrences. [0004]First, predicting uncertain future events or occurrences would be desirable for planning and making more informed or less risky decisions. For instance, if inflation is predicted to rise, it may be prudent to prepare for interest rate increases by minimizing mortgage payments or paying off debt. Also, if the real estate prices in a particular neighborhood are predicted to increase, it may be desirable to make real estate purchases before this anticipated increase. Further, if a child is predicted to marry, it may be wise to plan for wedding expenses or even the possibility of his/her being "jilted" and losing a banquet hall or reception deposit. Certainly, few would argue that accurate predictions of uncertain future events or occurrences are not valuable. Yet, achieving accurate predictions has been elusive in surveys, questionnaires, censuses, evaluations, assessments, or any other forecasts. Predictions often have error margins due to lack of motivation, lack of a tangible incentive, or inherent prejudice in the phrasing of questions. Further, pollees are sometimes not capable of giving informed opinions, completely answering the poll, satisfying the poller, thereby diminishing the accuracy of the poll itself. Similarly, expert opinions are limited in that they constitute, at most, only a few viewpoints, are sometimes obsolete, are founded on past rather than future performance, and are not easily verifiable. Thus, more accurate predictions of uncertain future events or occurrences would be desirable. [0005]Next, managing the risks in uncertain future events or occurrences would be desirable for hedging against incorrect predictions, biases, or assumptions about the future. For instance, as discussed above, it would be beneficial to hedge against the risk of incorrectly converting variable rate loans to fixed rate loans under an assumption that interest rates were going to rise rather than fall. Similarly, as discussed above, it would be desirable to hedge against the risk of incorrectly purchasing a house in a particular neighborhood under the assumption that housing prices in that particular neighborhood would increase. Further, it would be beneficial to hedge against the risk of incorrectly investing in a particular ingredient for a drug under the assumption that the drug would ultimately gain FDA approval or achieve market success. Various institutions have pre-determined areas for risk management and have marketed and/or packaged these pre-determined products. However, pre-determined approaches do not provide risk management abilities for independently determinable uncertain future events or occurrences. For instance, there is no independently determinable risk-management system for whether a particular patent will be valuable, whether it will issue within a given time frame, or whether particular claims within the patent will be allowed by an examiner. Similarly, there is no independently determinable risk-management system for whether tomorrow will bring sunshine for a wedding or whether a particular product within a company will meet or surpass revenue forecasts. Further, there is no independently determinable risk-management system for whether a medical school graduate will be "matched" with a particular residency training program or remain jobless and still be responsible for medical school tuition debt. Without an independently determinable risk-management system an entity is unable to address particularly and precisely risks in uncertain future events or occurrences that are not pre-determined. Accordingly, an independently determinable risk-management system for any uncertain future event or occurrence would be desirable. [0006]Also, as a complement to managing the risks of inherently uncertain future events or occurrences, it would be desirable to have an organized system for risk-bearing, speculative, profit-oriented, or otherwise motivated third parties to assume certain particular and precise risks in uncertain future events or occurrences from anyone, anywhere, for anything. For instance, it would be beneficial to provide an ability for one individual or entity to assume the risk of any independently determinable uncertain future event or occurrence, such as inflation changes, real estate market price changes, a marital status change, or adverse weather for a particular day and a precise location from another particular individual, small business, or other entity located anywhere in the world. Risk transfer systems to date are pre-determined, whereby a centralized person or organization pre-determines and/or packages the risks that may be transferred, which indirectly mandates the risk burden for all non-addressed uncertain future events or occurrences. Thus, it would be desirable to facilitate the transfer of any independently determinable uncertain future event or occurrence risk among any number of persons, anywhere, for anything. [0007]What is needed then are systems and methods for providing a personalized exchange market, and more specifically, to systems and methods for establishing personalized pledge agreements for uncertain future events or occurrences. SUMMARY OF THE INVENTION [0008]The present invention relates to systems and methods for providing a personalized exchange market, and more specifically, to systems and methods for establishing personalized pledge agreements for uncertain future events or occurrences. In one embodiment, the invention includes a method including the steps of facilitating a pledge offer via a network, the pledge offer specifying an outcome of an uncertain future occurrence, the uncertain future occurrence being independently definable; facilitating an acceptance of the pledge offer via the network, the acceptance forming a pledge agreement; determining the outcome; and facilitating performance of the pledge agreement based on the outcome. BRIEF DESCRIPTION OF THE DRAWINGS [0009]Preferred and alternate embodiments of the present invention are described in detail below with reference to the following drawings. [0010]FIG. 1 is a block diagram of a method for performing in a personalized exchange market for any uncertain future event or occurrence in accordance with an embodiment of the invention; [0011]FIG. 2 is a block diagram of a method for hedging in a personalized exchange market for any uncertain future event or occurrence in accordance with an embodiment of the invention; [0012]FIG. 3 is a block diagram of a method for establishing an index in a personalized exchange market for any uncertain future event or occurrence in accordance with an embodiment of the invention; [0013]FIG. 4 is a block diagram of a method for establishing a mutual fund in a personalized exchange market for any uncertain future event or occurrence in accordance with an embodiment of the invention; [0014]FIG. 5 is a diagram of a system for establishing a personalized exchange market for any uncertain future event or occurrence in accordance with an embodiment of the invention; and [0015]FIG. 6 is a diagram of a method for establishing a personalized exchange market for patient health information in accordance with an embodiment of the invention. DETAILED DESCRIPTION [0016]The present invention relates to systems and methods for providing a personalized exchange market, and more specifically, to systems and methods for establishing personalized pledge agreements for uncertain future events or occurrences. Specific details of certain embodiments of the invention are set forth in the following description and in FIGS. 1-5 to provide an understanding of such embodiments. The present invention may have various combinations of embodiments, additional embodiments, or may be practiced without one or more of the details described for any particular embodiment. [0017]FIG. 1 is a block diagram of a method for performing in a personalized exchange market for any uncertain future event or occurrence in accordance with an embodiment of the invention. An uncertain future event or occurrence may be anything in the future, including outcomes, measurements, processes, developments, discoveries and, of course, events or occurrences, whether intangible or tangible. In one embodiment, the method 100 includes a pledgor, or a pledge offerer, making a pledge offer to speculate on or transfer risk in any uncertain future event or occurrence at block 104. In certain embodiments, the uncertain future event or occurrence is independently determinable. In another embodiment, the pledge offer may be limited to a particular entity, group, or class. A prospective pledgee, or a pledge offeree, at block 110 reviews the pledge offer and accepts at block 108 or counter-pledges or makes another distinct pledge offer at negotiation block 109, which may be accepted at block 108. Alternatively, the prospective pledgee may decline the pledge offer. Thus, a pledge agreement is formed at block 112, wherein a pledgor agrees to speculate on or transfer risk in any uncertain future event or occurrence and a pledgee agrees to accept the risk transfer or speculate. In this manner, either the pledgor or the pledgee may enter the pledge agreement for the purpose of speculation, risk management, or any other purpose. The pledge agreement may involve contract law if applicable. Either the pledgor or the pledgee may optionally trade his or her interests in the pledge agreement at block 118 to another pledgee at block 120; this step may be unavailable as specified in the pledge agreement. The uncertain future event or occurrence becomes certain at block 122, optionally through an independently verifiable outcome, receiving data, or both at block 128; although in one particular embodiment, the pledge agreement may involve an indeterminable or questionable outcome, whereby the pledge agreement is dissolved. In one particular embodiment, a source of the data is predetermined or specified in the pledge agreement. Parties to the pledge agreement at the time the uncertain future event or occurrence becomes certain perform at block 130. [0018]As an example, a pledgor may pledge offer $100 at block 104 that a particular piece of legislation or legislative amendment will pass. Assume the pledgor's business prospects would improve with non-passage of the legislation. A prospective pledgee at block 110 may accept the pledge offer at block 108 wherein a pledge agreement is formed at block 112. Thus, the pledge agreement would be $100 payable by the pledgee to the pledgor if the legislation passes and $100 payable by the pledgor to the pledgee if the legislation does not pass. Thus, the pledgor can either gain by improved business prospects through non-passage of the legislation or by the pledge agreement through passage of the legislation. As time progresses, either the pledgor or the pledgee may trade his or her interests in the pledge agreement to another pledgee at block 118. Thus, before the legislation even occurs, interests in the pledge agreement could fluctuate in value between $0 and $100, or without limit, depending on the perceived likelihood of the legislation either passing or not passing. If the legislation were likely to pass, the pledgor may find another pledgee for closer to or at $100. Otherwise, if the legislation were likely to not pass, the pledgor may find a buyer closer to or at $0. Thus, the trade information prior to the uncertain future event or occurrence is an incentivized representation of the perceived likelihood of the legislation passage; the information may be used for prediction purposes. The event or occurrence will become certain at block 122 when the legislation either passes or does not pass. If the legislation passes, the pledgor (or his assignees) will receive $100 at block 130. If the legislation does not pass, the pledgee (or her assignees) will receive $100 at block 130. In this example, the pledgor, the pledgee, or their assignees may engage in the method 100 for the purpose of speculation, as part of an overall risk strategy, or for any other purpose. Also, legislative amendments can be dealt with in the pledge agreement or as separate pledge agreements. Continue reading... Full patent description for Systems and methods for providing a personalized exchange market Brief Patent Description - Full Patent Description - Patent Application Claims Click on the above for other options relating to this Systems and methods for providing a personalized exchange market patent application. 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