AU2015372422A1 - Method and system for trading leave entitlement - Google Patents

Abstract

The invention provides a computer implemented method of trading leave entitlements comprising: converting a received leave entitlement amount to standardized units of leave entitlement; matching the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; and trading the matched entitlements so that ownership is swapped to thereby trade leave entitlements. The method may further comprise receiving the leave entitlement through a network.

Description

PCT/AU2015/000762 WO 2016/101012 1

TITLE

METHOD AND SYSTEM FOR TRADING LEAVE ENTITLEMENT

FIELD OF THE INVENTION

[0001] The present invention relates to a method and system and computer media for trading leave entitlement. More particularly, the methods and systems and computer media of the invention relate to converting leave entitlement to a standardized unit to allow trading of these standardized units of leave.

BACKGROUND TO THE INVENTION

[0002] Employee leave entitlements must be administered by an employer. When an employee leaves one employer the leave entitlement must either be taken before employment officially concludes or must be paid out. Some employees accrue large leave entitlements which can be a burden to both administer and to carry as a liability.

[0003] An improved method of discharging leave entitlements is required.

SUMMARY OF THE INVENTION

[0004] The present invention is directed to methods and systems for trading leave entitlement.

[0005] In a broad form, the present invention relates to converting leave entitlement to a standardized unit and trading these standardized units of leave. Preferred advantages of the various methods and systems of the present invention include allowing employees to trade their leave entitlements. This advantage may also be of benefit to an employer in the event an employee with a large leave entitlement elects to discharge a portion of that entitlement. The benefit for the employer is that their exposure to leave entitlements is reduced.

[0006] Significantly, in one form, the computer implementation of the present invention allows leave to be traded between the employees of different employers.

[0007] In a first aspect, the present invention provides a computer implemented method of trading leave entitlements comprising: converting a received leave entitlement amount to standardized units of leave entitlement; matching the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; and trading the matched entitlements so that ownership is swapped to thereby trade WO 2016/101012 PCT/AU2015/000762 2 leave entitlements.

[0008] In one embodiment of the first aspect, the method further comprises receiving the leave entitlement. The leave entitlement may be received through a network.

[0009] The leave entitlement may be entered into a computer by an owner of the leave entitlement or by an administrator.

[0010] In a second aspect, the present invention provides a computer implemented method of alerting one or more participants of matched or traded leave entitlement comprising: converting a received leave entitlement amount to standardized units of leave entitlement; matching the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; optionally, trading the matched standardized units of leave entitlements so that ownership is swapped to thereby trade leave entitlements; and sending a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

[0011] In one embodiment of the second aspect, the method further comprises receiving one or more confirmation messages from the one or more participants. Each of the one or more confirmation messages may comprise a confirmation that the match is to proceed to a trade and/or confirmation that the trade is to proceed.

[0012] In another embodiment of the second aspect, a confirmation message may be received from the one or more participants before the optional trading step is conducted. Receipt of a confirmation message from each of the one or more participants involved in the trading may be required.

[0013] In a third aspect, the present invention provides a computer system for trading leave entitlements comprising: at least one server computer processor for converting a received leave entitlement amount to standardized units of leave entitlement and matching the converted received leave entitlement or at least a portion thereof with one or more complementary standardized units of leave entitlements; and the at least one server computer processor for trading the matched entitlements so PCT/AU2015/000762 WO 2016/101012 3 that ownership is swapped to thereby trade leave entitlements.

[0014] In one embodiment of the third aspect, the system further comprises at least one network connection device for receiving the leave entitlement amount.

[0015] In another embodiment of the third aspect, the system further comprises a memory for storing the received leave entitlement amount; the converted received leave amount and the one or more complementary standardized units of leave entitlements.

[0016] In yet another embodiment of the third aspect, the at least one network connection device sends a communication to the at least one leave provider computer and/or the at least one leave receiver computer wherein the communication includes the existence of the match and/or confirmation of the trade.

[0017] In a fourth aspect, the present invention provides a computer system for alerting one or more participants of matched or traded leave entitlement comprising: at least one server computer processor for converting a received leave entitlement amount to standardized units of leave entitlement and matching the converted received leave entitlement or at least a portion thereof with one or more complementary standardized units of leave entitlements; optionally, at least one server computer processor for trading the matched entitlements so that ownership is swapped to thereby trade leave entitlements; and at least one network connection device for sending a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

[0018] In one embodiment of the fourth aspect, the at least one network connection device is for communicating the leave entitlement amount through a network.

[0019] In another embodiment of the fourth aspect, the computer system further comprises at least one memory for storing the received leave entitlement amount; the converted received leave amount and the one or more complementary standardized units of leave entitlements.

[0020] In still another embodiment of the fourth aspect, the at least one network connection device is further for receiving one or more confirmation messages from the one or more participants. Each of the one or more confirmation messages may comprise a confirmation that the match is to proceed to a trade and/or confirmation that the trade is to WO 2016/101012 PCT/AU2015/000762 4 proceed.

[0021] In another embodiment of the fourth aspect, the at least one network connection device is for further receiving one or more confirmation messages from the one or more participants before the optional trading step is conducted. Receipt of a confirmation message from each of the one or more participants involved in the trading may be required.

[0022] In a fifth aspect, the present invention provides a computer readable storage medium having computer-executable instructions for trading leave entitlements the computer-executable instructions configured to: convert a received leave entitlement amount to standardized units of leave entitlements; match the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; and trade the matched entitlements so that ownership is swapped to thereby trade leave entitlements.

[0023] In one embodiment of the fifth aspect, the computer-executable instructions are configured to receive the leave entitlement. The leave entitlement may be received through a network.

[0024] In an sixth aspect, the present invention provides a computer readable storage medium having computer-executable instructions for alerting one or more participants of matched or traded leave entitlement, the computer-executable instructions configured to: convert a received leave entitlement amount to standardized units of leave entitlements; match the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; optionally, trade the matched standardized units of leave entitlements so that ownership is swapped to thereby trade leave entitlements; and send a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

[0025] In one embodiment of the sixth aspect, the computer-executable instructions are configured to receive one or more confirmation messages from the one or more PCT/AU2015/000762 WO 2016/101012 5 participants. Each of the one or more confirmation messages may comprise a confirmation that the match is to proceed to a trade and/or confirmation that the trade is to proceed.

[0026] In another embodiment of the sixth aspect, the computer-executable instructions are configured to receive a confirmation message from the one or more participants before the optional trading step is conducted. Receipt of a confirmation message from each of the one or more participants involved in the trading may be required.

[0027] in one embodiment of any above aspect, the receiving steps are performed by a server computer. The server computer system may be associated with a leave entitlement trading administrator.

[0028] In another embodiment of any above aspect, the matching and optional trading is between participants from different employers. That is, the matching and optional trading is inter-employer.

[0029] According to any above aspect, the received leave entitlement amount may comprise one or more of a salary amount; an amount of leave entitlement to be traded; an amount of leave entitlement available; and an indication that the leave entitlement is approved for trading.

[0030] According to any above aspect, the converting may comprise calculating from the received leave entitlement amount an amount of standardized units of leave entitlements indexed to the minimum wage and/or leave entitlements.

[0031] According to any above aspect, the converting may also comprise retaining for each participant a required amount of leave entitlement.

[0032] According to any above aspect, the converting may further comprise assessing eligibility. The eligibility may be determined by legislation in the appropriate jurisdiction.

[0033] According to any above aspect, the matching may comprise searching a database for the one or more complementary standardized units of leave entitlements.

[0034] According to any above aspect, the one or more participants may comprise at least one leave provider and at least one leave recipient.

[0035] According to the second, fourth or sixth embodiments, the system may further comprise at least one leave provider computing device and at least one leave recipient computing device. PCT/AU2015/000762 WO 2016/101012 6 [0036] According to any above aspect, the matching and/or trading may be anonymous. Each of the one or more participants may be identified with a unique code.

[0037] According to any above aspect, the matching may be with a plurality of participants. The participant providing the received leave amount may be matched with one or more participants providing the one or more complementary standardized units of leave entitlements.

[0038] The received leave amount may be a credit (selling leave) or a debit (acquiring leave). When the received leave amount comprises a credit (selling leave), the complementary leave amount comprises a debit (acquiring leave). When the received leave amount comprises a debit (acquiring leave), the complementary leave amount comprises a credit (selling leave).

[0039] According to any above aspect, the trading may comprise sending details of the traded leave entitlements to the one or more participants and/or their employer. The trading may comprise updating the leave entitlement details for the one or more participants in a database. The database may be administered by an employer of the one or more participants or a third party.

[0040] According to any above aspect, the communication may comprise a personal call or electronic notification through email, SMS or other electronic notification. The personal call may comprise a telephone call, video call or other individualized notification.

[0041] According to any above aspect, the communication may further comprise additional information such as, amount of leave entitlement to be traded; contact details of the other participants in the trade.

[0042] According to the first or second aspect, the method may further comprise registering the one or more participant.

[0043] According to the third or fourth aspect, the system may further comprise one or more participant computing device for registering the one or more participant. The one or more participant computing device may be associated with the one or more participant, their employer or a third party.

[0044] According to the fifth or sixth aspect, the medium may further comprise computer-executable instructions configured to receive a registration of the one or more participant.

[0045] According to any above aspect, the registration may comprise entry of one or more PCT/AU2015/000762 WO 2016/101012 7 participants leave entitlements. The registration step may be performed by the one or more participants, their employer and/or a third party.

[0046] According to any above aspect, the database may be updated regularly. The update may comprise changed leave entitlement. The change may be due to changed employment conditions or accrual of leave. Updating of accrued leave may be done automatically based on stored parameters.

[0047] According to any above aspect, the one or more complementary standardized units of leave entitlements may comprise a utility payment, a mortgage payment, a holiday payment, and insurance payment or any other kind of payment. The utility payment, a mortgage payment, insurance payment, a holiday payment or any other kind of payment may be converted to standardized units of leave entitlements by applying a discount factor so that the employee receives a discount on payment.

[0048] According to any above aspect, the one or more complementary standardized units of leave entitlements may comprises an essential or disaster service worker entitlement or essential or disaster service worker leave entitlement.

[0049] Where the terms “comprise”, comprises”, “comprising”, “include”, “includes”, “included” or “including” are used in this specification, they are to be interpreted as specifying the presence of the stated features, integers, steps or components referred to, but not to preclude the presence or addition of one or more other feature, integer, step, component or group thereof.

[0050] Further, any prior art reference or statement provided in the specification is not to be taken as an admission that such art constitutes, or is to be understood as constituting, part of the common general knowledge.

BRIEF DESCRIPTION OF THE FIGURES

[0051 ] In order that the present invention may be readily understood and put into practical effect, reference will now be made to the accompanying illustrations, wherein like reference numerals refer to like features and wherein: [0052] Figures 1A to ID: illustrate flow diagrams of an example method according to the present invention.

[0053] Figure 2A shows one embodiment of a computer system suitable for use in invention. PCT/AU2015/000762 WO 2016/101012 8 [0054] Figure 2B shows one embodiment of a computer memory and processor suitable for use in the invention.

DETAILED DESCRIPTION OF THE INVENTION

[0055] The following description refers to specific embodiments of the present invention and is in no way intended to limit the scope of the present invention to those specific embodiments.

[0056] The present invention is directed to methods and systems and computer media for trading leave.

[0057] Advantageously, in one embodiment, the methods and systems of the present invention create a marketplace wider than an individual employer. That is, employees can trade leave with employees of different employers in matching and trading leave entitlements in a broad inter-employer market. This generates opportunities for both employees and employers. For example, an employee can buy or sell leave as desired and is not constrained to trading with only employees of their employer. Additionally, employers may offer to their employees an additional means of discharging of leave.

[0058] Another advantage of the present invention is that it allows an employee to trade their leave in order to pay for utilities, their mortgage, a holiday, an insurance payment or any other kind of payment. The insurance payment may be a health insurance payment, a car insurance payment, a house and contents insurance payment or any kind of insurance payment. Utilities providers, mortgage lenders and holiday providers may allow their bills to be converted to standardized units of leave entitlements. The conversion may apply a discount factor so that the employee trading their leave entitlements receives a discount on payment. For example, the discount factor may be 25% in which a utility bill, e.g. a gas bill for $100.00 is converted to $75.00 worth of standardized units of leave entitlement.

[0059] The present invention may also be of significant benefit in that it will allow employees to trade their leave entitlements in order to subsidise or pay for essential, emergency or disaster service worker entitlement or essential or disaster service worker leave entitlement. According to this embodiment, the one or more complementary standardized units of leave entitlements matched and swapped may comprise leave entitlement and/or salary entitlement for essential, emergency or disaster service worker. In this way an employee can donate their leave entitlement to pay for the leave entitlement or PCT/AU2015/000762 WO 2016/101012 9 salary entitlement of essential, emergency or disaster service worker. Such a worker may be a paramedic, a fireman, a policeman, a doctor, a nurse, an engineer, an armed force worker or a scientist. This aspect of the invention may be of particular application during a natural disaster, terror attack or other type of event requiring such workers to which an employee may want to make a donation.

[0060] It is to be understood that each step of the present invention may require agreement from the participants, their employers and any third party along with compliance with legislation in any governing jurisdiction.

[0061] To this end, some limitation of the buying and selling of leave may be required to comply with legislation in the governing jurisdiction.

[0062] It is to be understood the invention may require one or more fee to be paid by the participants or their employers. Typically the fee would be paid to the administrator of the method and system of the invention.

[0063] As used herein “leave” refers to time away from employment duties. The leave may be but not limited to any one or more of annual, sick, bereavement, rostered days off, carer and long-service leave and including any other form of paid absence from work.

[0064] The term “leave entitlement’ as used herein refers to the capacity to take leave.

[0065] As used herein “participant’ refers to an individual or entity involved in the methods and systems of the invention. A participant may be an employer, employee or administrator. Significantly, a plurality of different employers, and thereby the employees of these different employees, may be involved in the matching and trading of the present invention.

[0066] The participants include “leave providers” and ‘leave recipients”. A leave provider trades their leave entitlements away. As a result of the trade, the leave provider may be compensated monetarily or receive other benefits. The monetary compensation may be an amount corresponding to the amount of standard units of leave traded. A leave recipient obtains the traded leave entitlements from the leave provider. To obtain the leave entitlements, the leave recipient may make a payment corresponding to the amount of standard units of leave traded. The payment may be carried out through the payroll and may be made over the course of an extended period, such as over a financial year.

[0067] FIG. 1A shows one embodiment of a computer-implemented method 100 of the WO 2016/101012 PCT/AU2015/000762 10 invention.

[0068] In registration 110 step an employer or employee is registered with the provider of method 100. The registration 110 may comprise the employer and employee entering into an agreement.

[0069] As shown in FIG. IB, registration 110 may require the employer and employees to agree to participate. Registration 110 may also comprise assigned unique codes to each employer and each employee. Optionally, registration 110 may comprise integrating with the employer’s payroll. This integration will enable any payment or recalculation of leave entitlements as required when a trade is effected.

[0070] After registration is complete and an employee elects to participate, employee information is entered. The employee information may be entered by the employee, their employer and/or a third party.

[0071] In step 112 employee information is received. The employee information may comprise employee name, employment conditions, leave entitlement amount and any special conditions. The leave entitlement amount may comprise one or more of a salary amount; an amount of leave entitlement to be traded; an amount of leave entitlement available.

[0072] As an example, special conditions may comprise any requirement to maintain a minimum leave balance or periods when leave must be taken. For example, some employers may allow the trading of some leave but way want the employee to maintain a minimum leave amount. This minimum leave amount may for example be four weeks. An example of a period when leave must be taken is for example over the Christmas-New Year period in Australia.

[0073] In assessment 114, the received employee information is reviewed. The review may comprise determining if any leave entitlements may be traded.

[0074] In step 120 a received leave entitlement amount may be converted to standardized units of leave entitlement. The converted standardized units may be stored in a database.

[0075] In step 130 the converted received leave entitlement or at least a portion thereof is matched with one or more complementary standardized units of leave entitlements. The matching may be conducted by an employee, an employer or a third party. Alternatively, the matching may be conducted by the computer or server processor. PCT/AU2015/000762 WO 2016/101012 11 [0076] Matching step 130 may require an employee, employer or administrator to log into the method 100 or system 200. The log on may be by a computer application or by a website.

[0077] In step 132 one or more of the participants may be contacted. The contact may comprise details of the leave entitlements to be traded.

[0078] In step 134 the one or more participants accept the match.

[0079] In step 136 the leave recipient tenders payment for the value of the leave entitlement traded. The payment may include a fee.

[0080] In step 138 the traded leave entitlement is converted back to leave days available to the leave provider and leave recipient.

[0081] In step 140 the matched entitlements are traded. The trading may comprise ownership being swapped to thereby trade leave entitlements. The trading may require acceptance by each of the one or more partic ipants.

[0082] The trading may further comprise adjusting leave balances for each of the one or more participants.

[0083] The trade and any details thereof may be communicated to the employer or the employee by an administrator.

[0084] As shown in FIG. 1D, the present invention also provides a computer implemented method 160 of alerting one or more participants of matched or traded leave entitlement. Method 160 may comprise sending 162 a communication to the one or more participants to alert them that leave entitlements have been matched or traded.

[0085] The communication may comprise a personal call or electronic notification through email, SMS or other electronic notification. The personal call may comprise a telephone call, video call or other individualized notification.

[0086] The communication may further comprise additional information such as, amount of leave entitlement to be traded; contact details of the other participants in the trade.

[0087] According to one embodiment of method 160, a confirmation 164 may be required before the trading step is performed.

[0088] The confirmation may comprise receiving one or more confirmation messages from the one or more participants. Each of the one or more confirmation messages may PCT/AU2015/000762 WO 2016/101012 12 comprise a confirmation that the match is to proceed to a trade and/or confirmation that the trade is to proceed.

[0089] The invention also provides a computer system for trading leave entitlements. FIGS. 2A and 2B show one embodiment of a suitable computer system 200 for use with the invention.

[0090] One embodiment of a computer system 200 suitable for use in the present invention is shown in Figs. 2A and 2B. In the embodiment shown computer system 200 comprises a personal computing device 201 comprising input devices such as a keyboard 202, a mouse pointer device 203, a scanner 226, an external hard drive 227, and a microphone 280; and output devices including a printer 215, a display device 214 and loudspeakers 217. In some embodiments video display 214 may comprise a touchscreen.

[0091 ] The input devices may be used for registering and entering the amount of leave to be traded. In one embodiment, this data is entered on keyboard 202. The registration and leave may be entered at the same time or at a different time. In other embodiments, registration is performed using keyboard 202 and amount of leave is received by network connection device 216 through network 220.

[0092] Computing device 201 may be used for registering the one or more participant. Similar computing devices may be may be associated with the one or more participant, their employer or a third party.

[0093] Examples of computing devices 201 on which the described arrangements can be practiced include IBM-PC's and compatibles, Sun Sparc stations, Apple computers; smart phones; tablet computers or a like device comprising a computer module like computer module 201. It is to be understood that when computing device 201 comprises a smart phone or a tablet computer, display device 214 may comprise a touchscreen and other input and output devices may not be included such as, mouse pointer device 201; keyboard 202; scanner 226; and printer 215. A network connection device 216 such as, a Modulator-Demodulator (Modem) transceiver device, may be used by the computer module 201 for communicating to and from a communications network 220 via a connection 221.

[0094] Network connection device 216 may receive the leave entitlement amount through network 220.

[0095] The network 220 may be a wide-area network (WAN), such as the Internet, a PCT/AU2015/000762 WO 2016/101012 13 cellular telecommunications network, or a private WAN. Through the network 220, computer module 201 may be connected to other similar computer modules 290 or server computers 291. Where the connection 221 is a telephone line, the network connection device 216 may be a traditional “dial-up” modem. Alternatively, where the connection 221 is a high capacity (e.g.; cable) connection, the connection device 216 may comprise a broadband modem. A wireless modem may also be used for wireless connection to network 220.

[0096] The computer module 201 typically includes at least one processor 205, and a memory 206 for example formed from semiconductor random access memory (RAM) and semiconductor read only memory (ROM).

[0097] The memory 206 may store registration and leave entitlement. Memory 206 may be password or otherwise protected so that its contents can be maintained as confidential.

[0098] The processor 205 may be used to carry out the steps of invention 100, 160.

[0099] The module 201 also includes a number of input/output (I/O) interfaces including: an audio-video interface 207 that couples to the video display 214, loudspeakers 217 and microphone 280; an I/O interface 213 for the keyboard 202, mouse 203, scanner 226 and external hard drive 227; and an I/O interface 208 for the external modem 216 and printer 215. In some implementations, modem 216 may be incorporated within the computer module 201, for example within the interface 208. The computer module 201 also has a local network interface 211 which, via a connection 223, permits coupling of the personal device 200 to a local computer network 222, known as a Local Area Network (LAN).

[00100] As also illustrated, the local network 222 may also couple to the wide network 220 via a connection 224, which would typically include a so-called “firewall” device or device of similar functionality. The interface 211 may be formed by an Ethernet circuit card, a Bluetooth wireless arrangement or an IEEE 802.11 wireless arrangement or other suitable interface.

[00101] The I/O interfaces 208 and 213 may afford either or both of serial and parallel connectivity, the former typically being implemented according to the Universal Serial Bus (USB) standards and having corresponding USB connectors (not illustrated).

[00102] Storage devices 209 are provided and typically include a hard disk drive (HDD) 210. Other storage devices such as, an external HDD 227, a disk drive (not shown) PCT/AU2015/000762 WO 2016/101012 14 and a magnetic tape drive (not shown) may also be used. An optical disk drive 212 is typically provided to act as a non-volatile source of data. Portable memory devices, such as optical disks (e g.: CD-ROM, DVD, Blu-Ray Disc), USB-RAM, external hard drives and floppy disks for example may be used as appropriate sources of data to the comuting device 201. Another source of data to computing device 200 is provided by the at least one server computer 291 through network 220.

[00103] The components 205 to 213 of the computer module 201 typically communicate via an interconnected bus 204 in a manner that results in a conventional mode of operation of computer module 200. In the embodiment shown in FIGS. 2A and 2B, processor 205 is coupled to system bus 204 through connections 218. Similarly, memory 206 and optical disk drive 212 are coupled to the system bus 204 by connections 219.

[00104] Fig. 2B is a detailed schematic block diagram of processor 205 and a memory 234. The memory 234 represents a logical aggregation of all the memory modules, including the storage device 209 and semiconductor memory 206, which can be accessed by computing device 201 in Fig. 2A.

[00105] The methods 100, 160 of the invention may be implemented using computing device 201 wherein the methods may be implemented as one or more software application programs 233 executable within computer module 201. In particular, the steps of the methods 100, 160 of the invention may be effected by instructions 231 in the software carried out within the computer module 201 [00106] The software instructions 231 may be formed as one or more code modules, each for performing one or more particular tasks. The software 233 may also be divided into two separate parts, in which a first part and the corresponding code modules performs the method of the invention and a second part and the corresponding code modules manages a graphical user interface between the first part and the user.

[00107] The software 233 may be stored in a computer readable medium, including in a storage device of a type described herein. The software is loaded into the computing device 201 from the computer readable medium or through network 221 or 223, and then executed by computer module 201. In one example the software 233 is stored on storage medium 225 that is read by optical disk drive 212. Software 233 is typically stored in the WO 2016/101012 PCT/AU2015/000762 15 HDD 210 or the memory 206.

[00108] A computer readable medium having such software 233 or computer program recorded on it is a computer program product. The use of the computer program product in the computing device 201 preferably effects a device or apparatus for implementing the methods 100, 160 of the invention.

[00109] In some instances, the software application programs 233 may be supplied to the user encoded on one or more disk storage medium 225 such as a CD-ROM, DVD or Blu-Ray disc, and read via the corresponding drive 212, or alternatively may be read by the user from the networks 220 or 222. Still further, the software can also be loaded into the computing device 201 from other computer readable media. Computer readable storage media refers to any non-transitory tangible storage medium that provides recorded instructions and/or data to the computer module 201, 290 and/or server computer 291 for execution and/or processing. Examples of such storage media include floppy disks, magnetic tape, CD-ROM, DVD, Blu-ray Disc, a hard disk drive, a ROM or integrated circuit, USB memory, a magneto-optical disk, or a computer readable card such as a PCMCIA card or SD card and the like, whether or not such devices are internal or external of the computing device 201. Examples of transitory or non-tangible computer readable transmission media that may also participate in the provision of software application programs 233, instructions 231 and/or data to the computing device 201 include radio or infra-red transmission channels as well as a network connection 221, 223, 224, to another computer or networked device 290, 291 and the Internet or an Intranet including email transmissions and information recorded on Websites and the like.

[00110] The second part of the application programs 233 and the corresponding code modules mentioned above may be executed to implement one or more graphical user interfaces (GUIs) to be rendered or otherwise represented upon display 214. Through manipulation of, typically, keyboard 202, mouse 203 and/or screen 214 when comprising a touchscreen, a user of computer module 201 and the methods 100, 160 of the invention may manipulate the interface in a functionally adaptable manner to provide controlling commands and/or input to the applications associated with the GUI(s). Other forms of functionally adaptable user interfaces may also be implemented, such as an audio interface utilizing speech prompts output via loudspeakers 217 and user voice commands input via microphone 280. The manipulations including mouse clicks, screen touches, speech PCT/AU2015/000762 WO 2016/101012 16 prompts and/or user voice commands may be transmitted via network 220 or 222.

[00111] When the computing device 201 is initially powered up, a power-on selftest (POST) program 250 may execute. The POST program 250 is typically stored in a ROM 249 of the semiconductor memory 206. A hardware device such as the ROM 249 is sometimes referred to as firmware. The POST program 250 examines hardware within the computing device 201 to ensure proper functioning, and typically checks processor 205, memory 234 (209, 206), and a basic input-output systems software (BIOS) module 251, also typically stored in ROM 249, for correct operation. Once the POST program 250 has run successfully, BIOS 251 activates hard disk drive 210. Activation of hard disk drive 210 causes a bootstrap loader program 252 that is resident on hard disk drive 210 to execute via processor 205. This loads an operating system 253 into RAM memory 206 upon which operating system 253 commences operation. Operating system 253 is a system level application, executable by processor 205, to fulfill various high level functions, including processor management, memory management, device management, storage management, software application interface, and generic user interface.

[00112] Operating system 253 manages memory 234 (209, 206) in order to ensure that each process or application running on computing device 201 has sufficient memory in which to execute without colliding with memory allocated to another process. Furthermore, the different types of memory available in the computing device 201 must be used properly so that each process can run effectively. Accordingly, the aggregated memory 234 is not intended to illustrate how particular segments of memory are allocated, but rather to provide a general view of the memory accessible by computing device 201 and how such is used.

[00113] Processor 205 includes a number of functional modules including a control unit 239, an arithmetic logic unit (ALU) 240, and a local or internal memory 248, sometimes called a cache memory. The cache memory 248 typically includes a number of storage registers 244, 245, 246 in a register section storing data 247. One or more internal busses 241 functionally interconnect these functional modules. The processor 205 typically also has one or more interfaces 242 for communicating with external devices via the system bus 204, using a connection 218. The memory 234 is connected to the bus 204 by connection 219.

[00114] Application program 233 includes a sequence of instructions 231 that may PCT/AU2015/000762 WO 2016/101012 17 include conditional branch and loop instructions. Program 233 may also include data 232 which is used in execution of the program 233. The instructions 231 and the data 232 are stored in memory locations 228, 229, 230 and 235, 236, 237, respectively. Depending upon the relative size of the instructions 231 and the memory locations 228-230, a particular instruction may be stored in a single memory location as depicted by the instruction shown in the memory location 230. Alternately, an instruction may be segmented into a number of parts each of which is stored in a separate memory location, as depicted by the instruction segments shown in the memory locations 228 and 229.

[00115] In general, processor 205 is given a set of instructions 243 which are executed therein. The processor 205 then waits for a subsequent input, to which processor 205 reacts by executing another set of instructions. Each input may be provided from one or more of a number of sources, including data generated by one or more of the input devices 202, 203, or 214 when comprising a touchscreen, data received from an external source across one of the networks 220, 222, data retrieved from one of the storage devices 206, 209 or data retrieved from a storage medium 225 inserted into the corresponding reader 212. The execution of a set of the instructions may in some cases result in output of data. Execution may also involve storing data or variables to the memory 234.

[00116] The disclosed arrangements use input variables 254 that are stored in the memory 234 in corresponding memory locations 255, 256, 257, 258. The described arrangements produce output variables 261 that are stored in the memory 234 in corresponding memory locations 262, 263, 264, 265. Intermediate variables 268 may be stored in memory locations 259, 260, 266 and 267.

[00117] The register section 244, 245, 246, the arithmetic logic unit (ALU) 240, and the control unit 239 of the processor 205 work together to perform sequences of microoperations needed to perform "fetch, decode, and execute" cycles for every instruction in the instruction set making up the program 233. Each fetch, decode, and execute cycle comprises: (a) a fetch operation, which fetches or reads an instruction 231 from memory location 228, 229, 230; (b) a decode operation in which control unit 239 determines which instruction has been fetched; and PCT/AU2015/000762 WO 2016/101012 18 (c) an execute operation in which the control unit 239 and/or the ALU 240 execute the instruction.

[00118] Thereafter, a further fetch, decode, and execute cycle for the next instruction may be executed. Similarly, a store cycle may be performed by which the control unit 239 stores or writes a value to a memory location 232.

[00119] Each step or sub-process in the methods of the invention may be associated with one or more segments of the program 233, and may be performed by register section 244-246, the ALU 240, and the control unit 239 in the processor 205 working together to perform the fetch, decode and execute cycles for every instruction in the instruction set for the noted segments of program 233.

[00120] A person of skill in the art readily understands that the computer-executable instructions for individual steps or sub-processes may be extracted and assembled into other methods. For example, the medium may further comprise computer-executable instructions configured to receive a registration of the one or more participant.

[00121] According to any above aspect, the registration may comprise entry of one or more participants leave entitlements. The registration step may be performed by the one or more participants, their employer and/or a third party.

[00122] Additionally, computer-executable instructions for other steps, sub-processes may be added to the computer readable storage medium embodiments.

[00123] One or more other computers 290 may be connected to the communications network 220 as seen in Fig. 2A. Each such computer 290 may have a similar configuration to the computer module 201 and corresponding peripherals.

[00124] For example, computer 290 may be operated by another participant wishing to sell their leave entitlements.

[00125] In another example, computer 290 is operated by an employer and receives the matches and trades for payroll integration.

[00126] One or more other server computer 291 may be connected to the communications network 220. These server computers 291 respond to requests from the personal devices 201 or other server computers to provide information. For example, server computer 291 may be operated by an administrator and may be connected to one or more database for securely storing registration and leave entitlement data. PCT/AU2015/000762 WO 2016/101012 19 [00127] Methods 100, 160 may alternatively be implemented in dedicated hardware such as one or more integrated circuits performing the functions or sub functions of the described methods. Such dedicated hardware may include graphic processors, digital signal processors, or one or more microprocessors and associated memories.

[00128] The at least one server computer 291 may convert a received leave entitlement amount to standardized units of leave entitlement and matching the converted received leave entitlement or at least a portion thereof with one or more complementary standardized units of leave entitlements.

[00129] The at least one server computer 291 may also trade the matched entitlements so that ownership is swapped to thereby trade leave entitlements.

[00130] The system 200 may further comprise a memory for storing the received leave entitlement amount; the converted received leave amount; and the one or more complementary standardized units of leave entitlements. The memory may comprise one or more database linked to server computer 291.

[00131] The one or more database may be updated regularly. The update may comprise changed leave entitlement. The change may be due to changed employment conditions or accrual of leave. Updating of accrued leave may be done automatically based on stored parameters.

[00132] The at least one network connection device may send an alert to the at least one leave provider computer and/or the at least one leave receiver computer wherein the alert includes the existence of the match and/or confirmation of the trade.

[00133] The computer system 200 may be used to alert the one or more participants that their leave entitlements have been matched and/or traded. The alerting may be performed by the at least one network connection device sending a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

[00134] The at least one network connection device may be used for receiving the one or more confirmation messages from the one or more participants.

[00135] Additionally, the at least one network connection device may be used for receiving one or more confirmation messages from the one or more participants before the optional trading step is conducted. Receipt of a confirmation message from each of the PCT/AU2015/000762 WO 2016/101012 20 one or more participants involved in the trading may be required.

[00136] The present invention also provides a computer readable storage medium having computer-executable instructions for trading leave entitlements. These computer-executable instructions may be configured to convert a received leave entitlement amount to standardized units of leave entitlement; match the converted received leave entitlement or at least a portion thereof with one or more complementary standardized units of leave entitlements; and trade the matched entitlements so that ownership is swapped to thereby trade leave entitlements.

[00137] The computer readable storage medium may also comprise computer-executable instructions configured to receive the leave entitlement. The leave entitlement may be received through a network.

[00138] In order to keep the participants updated, the present invention also provides a computer readable storage medium having computer-executable instructions for alerting one or more participants of matched or traded leave entitlement. The computer-executable instructions configured to: convert a received leave entitlement amount to standardized units of leave entitlement; match the converted received leave entitlement or at least a portion thereof with one or more complementary standardized units of leave entitlements; optionally, trade the matched entitlements so that ownership is swapped to thereby trade leave entitlements; and send a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

[00139] The computer-executable instructions may also be configured to receive one or more confirmation messages from the one or more participants. Each of the one or more confirmation messages may comprise a confirmation that the match is to proceed to a trade and/or confirmation that the trade is to proceed.

[00140] The receiving steps may be performed by server computer 291. The server computer 291 may be associated with a leave entitlement trading administrator.

[00141] The converting may comprise calculating from the received leave entitlement amount an amount of standardized units of leave entitlements indexed to any one or more of, but not limited to, the minimum wage and leave entitlements.

[00142] The converting may also comprise retaining for each participant a required amount of leave entitlement. This retained leave may be required to comply with the local WO 2016/101012 PCT/AU2015/000762 21 law.

[00143] The converting may further comprise assessing eligibility. The eligibility may be determined by legislation in the appropriate jurisdiction.

[00144] The matching may comprise searching a database for the one or more complementary standardized units of leave entitlements.

[00145] According to any above aspect, the one or more participants may comprise at least one leave provider and at least one leave recipient.

[00146] The system 200 may further comprise at least one leave provider computing device and at least one leave recipient computing device. These devices may be computer systems like 200 that are owned by the participants or their employers.

[00147] The matching and/or trading may be anonymous. Each of the one or more participants may be identified with a unique code.

[00148] The matching may be with a plurality of participants. The participant providing the received leave amount may be matched with a plurality of participants providing the one or more complementary standardized units of leave entitlements.

[00149] The received leave amount may be a credit (selling leave) or a debit (acquiring leave). When the received leave amount comprises a credit (selling leave), the complementary leave amount comprises a debit (acquiring leave). When the received leave amount comprises a debit (acquiring leave), the complementary leave amount comprises a credit (selling leave).

[00150] The trading may comprise sending details of the traded leave entitlements to the one or more participants and/or their employer. The trading may comprise updating the leave entitlement details for the one or more participants in a database. The database may be administered by an employer of the one or more participants or a third party.

[00151] So that the invention may be readily understood and put into practical effect, the following non-limiting Examples are provided.

EXAMPLES

[00152] E.g. John, employed by company A at minimum wage salary has 10 weeks leave entitlements available. John wishes to sell 2 weeks leave entitlements. In this example, 1 days leave at minimum wage equates to 1 standard unit of leave entitlement. PCT/AU2015/000762 WO 2016/101012 22

John is able to trade all of his leave entitlements, without any restriction. Therefore, John has 50 days at minimum wage or 50 standard units of leave available for trading. A search of the database finds Mark employed by company B at a salary 2 times the minimum wage who wants to acquire 1 week leave, which amounts to 10 standard leave units or 10 days leave at minimum wage. Once matched and agreed, the leave is traded and John receives the funds amounting to 1 week’s leave paid by Mark through their various payrolls.

[00153] Throughout the specification the aim has been to describe the preferred embodiments of the invention without limiting the invention to any one embodiment or specific collection of features. It will therefore be appreciated by those of skill in the art that, in light of the instant disclosure, various modifications and changes can be made in the particular embodiments exemplified without departing from the scope of the present invention.

Claims (22)

1. A computer implemented method of trading leave entitlements comprising: converting a received leave entitlement amount to standardized units of leave entitlement; matching the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; trading the matched entitlements so that ownership is swapped to thereby trade leave entitlements.

2. The method of Claim 1 further comprising receiving the leave entitlement through a network.

3. The method of Claim 1 or Claim 2 wherein the leave entitlement is entered into a computer by an owner of the leave entitlement or by an administrator.

4. A computer implemented method of alerting one or more participants of matched or traded leave entitlement comprising: converting a received leave entitlement amount to standardized units of leave entitlement; matching the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; optionally, trading the matched standardized units of leave entitlements so that ownership is swapped to thereby trade leave entitlements; and sending a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

5. The method of claim 4 further comprising receiving one or more confirmation messages from the one or more participants wherein each of the one or more confirmation messages comprise a confirmation that the match is to proceed to a trade and/or confirmation that the trade is to proceed.

6. The method of Claim 4 or Claim 5 wherein a confirmation message is received from the one or more participants before the optional trading step is conducted.

7. A computer system for trading leave entitlements comprising: at least one server computer processor for converting a received leave entitlement amount to standardized units of leave entitlement and matching the converted received leave entitlement or at least a portion thereof with one or more complementary standardized units of leave entitlements; and the at least one server computer processor for trading the matched entitlements so that ownership is swapped to thereby trade leave entitlements.

8. The system of Claim 7 further comprising at least one network connection device for receiving the leave entitlement amount.

9. The system of Claim 7 or Claim 8 further comprising a memory for storing the received leave entitlement amount; the converted received leave amount and the one or more complementary standardized units of leave entitlements.

10. The system of any one of Claim 7 to 9 wherein the least one network connection device sends a communication to the at least one leave provider computer and/or the at least one leave receiver computer wherein the communication includes the existence of the match and/or confirmation of the trade.

11. A computer system for alerting one or more participants of matched or traded leave entitlement comprising: at least one server computer processor for converting a received leave entitlement amount to standardized units of leave entitlement and matching the converted received leave entitlement or at least a portion thereof with one or more complementary standardized units of leave entitlements; optionally, the at least one server computer processor for trading the matched entitlements so that ownership is swapped to thereby trade leave entitlements; and at least one network connection device for sending a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

12. The system of Claim 11 wherein the at least one network connection device is for communicating the leave entitlement amount through a network.

13. The system of Claim 11 or Claim 12 further comprising at least one memory for storing the received leave entitlement amount; the converted received leave amount and the one or more complementary standardized units of leave entitlements.

14. The system of any one of Claims 11 to 13 wherein at least one network connection device is further for receiving one or more confirmation messages from the one or more participants.

15. The system of any one of Claims 11 to 14 wherein the at least one network connection device is for further receiving one or more confirmation messages from the one or more participants before the optional trading step is conducted.

16. A computer readable storage medium having computer-executable instructions for trading leave entitlements the computer-executable instructions configured to: convert a received leave entitlement amount to standardized units of leave entitlements; match the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; and trade the matched entitlements so that ownership is swapped to thereby trade leave entitlements.

17. The medium of Claim 16 wherein the computer-executable instructions are configured to receive the leave entitlement.

18. A computer readable storage medium having computer-executable instructions for alerting one or more participants of matched or traded leave entitlement the computer-executable instructions configured to: convert a received leave entitlement amount to standardized units of leave entitlements; match the converted received leave entitlement amount or at least a portion thereof with one or more complementary standardized units of leave entitlements; optionally, trade the matched standardized units of leave entitlements so that ownership is swapped to thereby trade leave entitlements; and send a communication to the one or more participants to thereby alert the one or more participants that leave entitlements have been matched or traded.

19. The medium of Claim 18 wherein the computer-executable instructions are configured to receive one or more confirmation messages from the one or more participants.

20. The medium of Claim 18 or Claim 19 wherein the computer-executable instructions are configured to receive a confirmation message from the one or more participants before the optional trading step is conducted.

21. The method, system or medium of any preceding claim wherein the one or more complementary standardized units of leave entitlements comprise one or more of a utility payment, a mortgage payment, a holiday payment, an insurance payment or any other kind of payment.

22. The method, system or medium of any preceding claim wherein the one or more complementary standardized units of leave entitlements comprise an essential or disaster service worker entitlement or essential or disaster service worker leave entitlement.