Cy-Fair-area man among team receiving patent for market analysis software

A Cy-Fair-area man has received a U.S. patent for market analysis software tools he and his colleagues developed more than nine years ago.

As described in the patent, the software was designed to use market data to define standard pricing groups and perform statistical analysis on them. The team of inventors wrote that one advantage its software offered over previous programs was a superior ability to compare a single buyer or seller's performance to the performance of the market as a whole.

The patent lists the following inventors for the software: Ronald F. Woestermeyer of the Montrose area of Houston, Matthew Johnson of Houston, Theodore V. Valkov of Bellaire, Marc Paige of the Cy-Fair area of Houston and Mikael O. Weigelt of Kingwood. The patent was originally filed on July 31, 2001, and its official number is 7,877,311. The filers were represented by international law firm Crowell & Moring.

The owner of the patent is listed as PROS Revenue Management Inc. Founded in 1985, the company is now located in downtown Houston at 3100 Main St., #900. The company's website describes it as "the world leader in profitability management and optimization software solutions."