Appeal No. 2004-2085
Application 09/272,542
"current" allows for the price of a particular response to change
with the market, but, in Harrington's system, the price is not
current but is merely the best price (RBr5). "There does not
exist a generally accepted indicator of prevailing current market
price in Harrington because the purpose of Harrington's system is
to try to establish a market for the product offered." (RBr5.)
We agree with appellants that a "best bid" is not equivalent
to a "generally accepted indicator of a prevailing current market
price." In the original issue auctions described by Harrington,
the auction is setting the market price; unlike a stock market or
secondary market there is no available market price. However,
assuming that a "best bid" is a "prevailing current market price"
in the loose sense that it is what the market is willing to pay,
it is not considered a "generally accepted indicator" because the
bids are continuously changing and has only been accepted by one
bidder. In addition, while each incoming bid is a "price
improvement" over the preceding bid, that bid is not a "relative
price," which is defined as "being relative to a generally
accepted indicator of a prevailing current market price," because
there is no "generally accepted indicator of a prevailing current
market price" and because the bid specifies an absolute price,
not a price "relative" to the preceding bid.
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