Method and apparatus for providing rights for event tickets

• US 20020052758A1
• Filed: 10/25/2001
• Published: 05/02/2002
• Est. Priority Date: 10/26/2000
• Status: Abandoned Application

• Current Assignee: JMG Triton Offshore Fund, Ltd.
• Original Assignee: JMG Triton Offshore Fund, Ltd.
• Inventors: Schenk, Norbert Peter, Arthur, Roland Bushonville
• Application Number:
  US10/027,861
• Publication Number:
  US 20020052758A1
• Time in Patent Office: Days
• US Class Current: 705/1
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events

Abstract

The present invention provides the creation and the sale of a unique stand-alone right that entitles the holder to purchase event tickets. The right can be created and distributed to a holder by an entertainment entity, entered into a commodity exchange system, transferred to a new holder (if sold by the current holder), and converted into at least one event ticket (if so elected by the holder of the right). The disclosure presents an exemplary embodiment in which a right is distributed to a season ticket and to the general public. The right is entered into a secure register, and the holder can generate or accept quotes for selling the right. If sold, the right is transferred to the new holder. The current holder can exercise the right at a cutoff date in which the right is converted into at least one ticket for post-season games.

Claims

1. A method that provides for a creation and a sale of a right in a commodity exchange system, the right entitling a current holder to purchase at least one event ticket, each event ticket associated with an event, the method comprising the steps of:

entering the right into a secure register for the current holder; and

converting the right to the at least one event ticket.

2. The method of claim 1, further comprising the steps of:

adjusting a value of the right; and

transferring ownership by the secure register of the right to a new holder in response to the current holder requesting a transaction of the right, wherein the current holder becomes the previous holder and the new holder becomes the current holder.

3. The method of claim 2, wherein the step of adjusting the value of the right terminates the right after a cutoff date occurs.

4. The method of claim 3, wherein the step of converting the right to the at least one event ticket occurs essentially at a cutoff date.

5. The method of claim 1, wherein the current holder is selected from the group consisting of a season ticket holder and a non-season ticket holder.

6. The method of claim 2, further comprising the step of:

charging the new holder an amount of money based upon a market value of the right.

7. The method of claim 6, further comprising the steps of:

adjusting the amount of money by a transaction fee; and

crediting the previous holder the amount of money.

8. The method of claim 2, wherein the at least one ticket corresponds to a series of events and wherein each event of the series is dependent upon a previous event.

9. The method of claim 2, wherein the step of transferring ownership by the secure register of the right to the new holder comprises the steps of:

receiving a quote from a user of the commodity exchange system, the user being either the current holder or the new holder of the right; and

receiving an acceptance indication corresponding to the quote.

10. The method of claim 1, wherein the right specifies a region within an event venue.

11. The method of claim 8, wherein the step of converting the right to at least one event ticket and the step of adjusting the value of the right occurs during a period of time in which a portion of the series of events is completed.

12. The method of claim 1, further comprising the step of:

distributing the right to a non-season ticket customer, wherein the non season-ticket customer becomes the current holder of the right.

13. The method of claim 1, further comprising the step of:

distributing the right to a season ticket customer, wherein the season ticket customer becomes the current holder of the right.

15. The method of claim 14, further comprising the steps of:

determining recalculated market information based upon the quote acceptance or the quote proposal; and

providing the recalculated market information.

20. The apparatus of claim 19, further comprising:

an exchange controller that interacts with a user of the exchange controller to generate quotes, the exchange controller communicating with the secure register about a transfer of the right to a new holder.

21. The apparatus of claim 20, further comprising:

a network interface connecting the exchange controller to the user through a communication network.

14. A method that provides for a creation and a sale of a right in a commodity exchange system, the right entitling a current holder to purchase at least one event ticket, each event ticket associated with an event, the method comprising the steps of:

providing market information for the right associated with at least one seat in an event venue;

receiving at least one of a quote acceptance and a quote proposal responsive to the market information.

16. A method that provides for a creation and a sale of a right in a commodity exchange system, the right entitling a current holder to purchase at least one event ticket, each event ticket associated with an event, the method comprising the steps of:

defining quantity-differentiated markets for a plurality of rights, each right of the quantity-differentiated markets based on a unique number of units of the right to be traded; and

providing market information for at least one of the quantity-differentiated markets.

17. A method that provides for a creation and a sale of a right in a commodity exchange system, the right entitling a current holder to purchase at least one event ticket, each event ticket associated with an event, the method comprising the steps of:

receiving, from amongst a plurality of quotes provided by buyers and sellers, a first quote from a user of the commodity exchange system;

receiving at least a second quote from the user; and

linking the first quote and at least the second quote together to provide a quote chain, wherein acceptance of any quote in the quote chain causes remaining quotes in the quote chain to be inactivated, and wherein each quote in the quote chain is directed to at least one right within at least one event venue.

18. A method that provides for a creation and a sale of a right in a commodity exchange system, the right entitling a current holder to purchase at least one event ticket, each event ticket associated with an event, the method comprising the steps of:

defining spatially diverse regions within an area, each of the spatially diverse regions defining a separate commodity market, the right associated with one of the spatially diverse regions;

providing display data on the area, wherein each of the spatially diverse regions is separately identifiable by a viewer of a visual depiction resulting from the display data; and

receiving selection information corresponding to at least one selected spatially diverse region.

19. An apparatus that provides for a creation and a sale of a right in a commodity exchange system, the right entitling a current holder to purchase at least one event ticket, each event ticket associated with an event, the apparatus comprising:

a secure register, the secure register assigning the right with the current holder; and

an indication associated with the secure register signifying as to whether the current holder chooses to convert the right to the at least one event ticket.

22. A computer-readable medium containing instructions for controlling a computer system to create and sell a right entitling a current holder to purchase at least one event ticket, by:

entering the right into a secure register for the current holder; and

converting the right to the at least one event ticket.

23. The computer-readable medium of claim 22, further containing instructions for controlling the computer system to create and sell the right entitling the current holder to purchase the at least one event ticket, by:

adjusting a value of the right; and

transferring ownership by the secure register of the right to a new holder in response to the current holder requesting a transaction of the right, wherein the current holder becomes the previous holder and the new holder becomes the current holder.

24. The computer-readable medium of claim 23, further containing instructions for controlling the computer system to create and sell the right entitling the current holder to purchase the at least one event ticket, by:

charging the new holder an amount of money based upon a market value of the right.

25. The computer-readable medium of claim 24, further containing instructions for controlling the computer system to create and sell the right entitling the current holder to purchase the at least one event ticket, by:

crediting the previous holder the amount of money; and

adjusting the amount of money by a transaction fee.

26. The computer-readable medium of claim 23, further containing instructions for controlling the computer system to create and sell the right entitling the current holder to purchase the at least one event ticket, by:

charging the new holder the amount of money.

27. The computer-readable medium of claim 23, further containing instructions for controlling the computer system to create and sell the right entitling the current holder to purchase the at least one event ticket, by:

receiving a quote from a user of the commodity exchange system, the user being either the current holder or the new holder of the right; and

receiving an acceptance indication corresponding to the quote.