Patents by Inventor Michael T. Rossides

Michael T. Rossides has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Patent number: 5085435
    Abstract: Disclosed is the use of a Random Number Supplier to execute bets in an Expected Value Payment Method for the purpose of reducing the expected per unit costs incurred in paying and/or receiving a given amount of a commodity. An expected Value Payment Method uses bets to reduce expected per unit costs in two ways.First, expected per unit costs can be reduced for the payer and/or receiver of a commodity by giving the receiver a chance to win a greater amount of the commodity than a given amount, the greater amount having a lower per unit cost than the given amount which was originally to be paid and received. Second, in special situations, certain businesses can offer customers who bet to win a given amount of a commodity a better expected price for that amount than the price offered to customers paying conventionally for that same amount.Also disclosed are Expected Value Payment Execution Systems that make an Expected Value Payment Method practical by preventing cheating in Expected Value Payment bets.
    Type: Grant
    Filed: November 7, 1990
    Date of Patent: February 4, 1992
    Inventor: Michael T. Rossides