NEW YORK, May 24, 2011 – BarterQuest (www.barterquest.com), a platform that supports the cashless exchange of goods, services and real estate, today announced that it has been issued the first patent related to its proprietary technology. While several patents remain pending, a patent for the process of forming and managing barter transactions, referred to as the site’s “trading engine,” was issued on April 12, 2011. The trading engine is intended to provide users with a systematic way to initiate and complete trades, avoiding the endless communication that can render trading problematic.
“Issuance of this patent establishes BarterQuest as a leader in Internet barter technology and further differentiates BarterQuest from all other trading sites,” stated Dr. Paul Bocheck, President & CEO of BarterQuest. “BarterQuest is designed to fully answer the problems historically associated with barter, making trading easy. Our trading engine is complimented by our matching engine, which instantly finds your reciprocal trades in the form of both two party and multi-party transactions. We believe that our unique combination of technology and features is necessary for BarterQuest to support large scale trading activity.”
