Method and system enabling the trading of a futures contract for the purchase of goods or services

• US 20040176990A1
• Filed: 03/05/2003
• Published: 09/09/2004
• Est. Priority Date: 03/05/2003
• Status: Abandoned Application

• Current Assignee: Hewlett-Packard Development Company, L.P. (HP Inc.)
• Original Assignee: Hewlett-Packard Development Company, L.P. (HP Inc.)
• Inventors: Kirshenbaum, Evan, Vacante, Robert C.
• Application Number:
  US10/378,835
• Publication Number:
  US 20040176990A1
• Time in Patent Office: Days
• US Class Current: 705/10
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method and system enabling the trading of a futures contract for the purchase of goods or services. The method includes and the system performs the steps of receiving an offer for a good(s) or service(s) and purchasing a re-sellable future for the good(s) or service(s). The re-sellable future is a contract to purchase a certain quantity of the good(s) or service(s) from a seller at a set price and at an expiration and the re-sellable future may be re-sold. The method may also include and the system may also perform the steps of offering a re-sellable future for a good(s) or service(s) and selling the re-sellable future for the good(s) or service(s).

Claims

1. A method enabling the trading of a futures contract for the purchase of goods or services, comprising the steps of:

receiving an offer for a good(s) or service(s); and

purchasing a re-sellable future for the good(s) or service(s), wherein the re-sellable future is a contract to purchase a certain quantity of the good(s) or service(s) from a seller at a set price and at an expiration and the re-sellable future may be re-sold.

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

offering the re-sellable future for the good(s) or service(s) for re-sale; and

reselling the re-sellable future for the good(s) or service(s), wherein the re-sold future is a contract to purchase a certain quantity of the good(s) or service(s) from the seller at a set price and at an expiration.

3. The method of claim 2, the method further comprising the step of determining whether the expiration has arrived.

4. The method of claim 3, wherein the determining step is performed prior to the reselling step.

5. The method of claim 3, wherein the determining step includes determining whether the future has been extended, and if not, offering an extension.

6. The method of claim 3, further comprising the step of automatically exercising the re-sellable future for the good(s) or service(s) upon determining that the expiration has arrived.

7. The method of claim 1, further comprising the step of exercising the re-sellable future for the good(s) or service(s), wherein the seller delivers the certain quantity of the good(s) or service(s).

8. The method of claim 7, wherein the exercising step further comprises notifying the seller that an owner of the future is exercising the future for the certain quantity of the good(s) or service(s).

9. The method of claim 7, wherein the exercising step further comprises verifying that the owner is authorized to exercise the future.

10. The method of claim 1, wherein the receiving step comprises:

viewing the offer in a graphical user interface (GUI) on a display device.

11. The method of claim 10, wherein the purchasing step comprises:

inputting an election to purchase through the GUI and entering requested data.

19. A system enabling the trading of a futures contract for the purchase of goods or services, the system comprising:

a server, comprising;

a processor;

the computer readable medium of claim 9, wherein the processor executes the instructions stored thereon for enabling the trading of a future for goods or services; and

a network connecting the server and one or more user machines.

12. A computer-readable medium that includes instructions stored thereon for enabling the trading of a futures contract for the purchase of goods or services by:

receiving an offer for a good(s) or service(s); and

purchasing a re-sellable future for the good(s) or service(s), wherein the re-sellable future is a contract to purchase a certain quantity of the good(s) or service(s) from a seller at a set price and at an expiration and the re-sellable future may be re-sold.

13. The computer-readable medium of claim 12 further including instructions stored thereon for:

offering the re-sellable future for the good(s) or service(s) for re-sale; and

reselling the re-sellable future for the good(s) or service(s), wherein the re-sold future is a contract to purchase a certain quantity of the good(s) or service(s) from the seller at a set price and at an expiration.

14. The computer-readable medium of claim 13, wherein the computer-readable medium further includes instructions stored thereon for determining whether the future expiration has arrived.

15. The computer-readable medium of claim 14, wherein the determining step is performed prior to the reselling step.

16. The computer-readable medium of claim 12 further including instructions stored thereon for notifying the seller that an owner of the future is exercising the future for the certain quantity of the good(s) or service(s).

17. The computer-readable medium of claim 12, wherein the instructions for the receiving step further include instructions for viewing the offer in a graphical user interface (GUI) on a display device.

18. The computer-readable medium of claim 17, wherein the instructions for the purchasing step further include instructions for receiving an input election to purchase through the GUI and entered requested data.

20. A method enabling the trading of a futures contract for the purchase of goods or services, comprising the steps of:

offering a re-sellable future for a good(s) or service(s), wherein the re-sellable future is a contract to purchase a certain quantity of the good(s) or service(s) from a seller at a set price and at an expiration and the re-sellable future may be re-sold; and

selling the re-sellable option for the good(s) or service(s).

21. The method of claim 20, further comprising the step of receiving a notification that an owner of the future is exercising the future for the certain quantity of the good(s) or service(s).

22. A computer-readable medium comprising instructions for performing the method of claim 20.