Virtual collateral for real-world obligations

• US 20070203817A1
• Filed: 02/28/2006
• Published: 08/30/2007
• Est. Priority Date: 02/28/2006
• Status: Active Grant

• Current Assignee: The Invention Science Fund I, L.L.C. (Intellectual Ventures LLC)
• Original Assignee: Searete LLC (Intellectual Ventures LLC)
• Inventors: Jung, Edward, Malamud, Mark, Lord, Robert, Levien, Royce, Rinaldo, John
• Granted Patent: US 8,473,382 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A method and system provides transactions and arrangements in virtual world environments. A user can participate in transactions to acquire virtual property and related virtual rights. In some implementations, real-world and virtual parties can be involved in virtual collateral transactions as well as conditional transfers and/or revocations involving various types of virtual objects and virtual rights. A possible relinquishment of designated aspects of the virtual collateral may result from unsatisfactory compliance with a real-world obligation or virtual world obligation that is secured by the virtual collateral.

Claims

1. A method of providing collateral for an obligation, comprising:

identifying a real-world arrangement that includes an ongoing or future obligation;

confirming a willingness of a beneficiary of the real-world arrangement to accept something of virtual world value as collateral for the obligation; and

allowing implementation of an arrangement that designates specified virtual world collateral as at least partial security for performance of the obligation.

2. The method of claim 1 further comprising:

invoking a safeguard to help prevent an unacceptable change in status of the specified virtual world collateral.

3. The method of claim 2 wherein said invoking the safeguard includes:

monitoring the virtual world collateral during all or part of an interim period prior to resolution or completion of the obligation.

4. The method of claim 3 further comprising:

providing approval for periodic notification to a beneficiary of the obligation, which notification indicates a status change affecting the virtual world value of the specified virtual world collateral.

5. The method of claim 2 wherein said invoking the safeguard includes:

authorizing creation of a record of the real-world arrangement, which record provides an identification of the specified virtual world collateral.

6. The method of claim 5 wherein said authorizing creation of the record includes:

authorizing the record to be accessible in a virtual world environment having a nexus with the specified virtual world collateral.

7. The method of claim 5 wherein said authorizing creation of the record includes:

authorizing the record to be accessible in a real-world environment.

8. The method of claim 2 wherein said invoking the safeguard includes:

tagging the specified virtual world collateral in an inventory listing separate from the collateral.

9. The method of claim 2 wherein said invoking the safeguard includes:

providing a tag integrally perceptible with the specified virtual world collateral itself.

10. The method of claim 2 wherein said invoking the safeguard includes:

providing a special tag associated with the specified virtual world collateral, which tag has a singularity that is recognizable by a virtual world participant.

11. The method of claim 2 wherein said invoking the safeguard includes:

providing notification to an obligation beneficiary or other designated party regarding an occurrence that jeopardizes or diminishes an attributed value of the specified virtual world collateral.

12. The method of claim 2 wherein said invoking the safeguard includes:

imposing a limitation on the specified virtual world collateral to prevent an ownership transfer of the specified virtual world collateral without approval by or on behalf of a beneficiary of the obligation.

13. The method of claim 2 wherein said invoking the safeguard includes:

imposing a limitation on the specified virtual world collateral to help prevent destruction or damage or impairment of the specified virtual world collateral.

14. The method of claim 2 wherein said invoking the safeguard includes:

imposing a limitation on the specified virtual world collateral to help prevent alteration or relocation or hiding of the specified virtual world collateral.

15. The method of claim 2 wherein said invoking the safeguard includes:

transferring control of the specified virtual world collateral to a third party trustee or escrow agent to assure safeguarding the specified virtual world collateral.

16. The method of claim 1 wherein said identifying the real-world arrangement includes:

identifying the obligation that has a real-world completion deadline.

17. The method of claim 1 wherein said identifying the real-world arrangement includes:

identifying the obligation that requires payment or delivery of something of real-world value.

18. The method of claim 1 wherein said identifying the real-world arrangement includes:

identifying the obligation that requires a particular achievement or conduct or work in the real-world environment.

19. The method of claim 1 wherein said identifying the real-world arrangement includes:

identifying the obligation that directly or indirectly involves one or more virtual world environments.

20. The method of claim 1 wherein said identifying the real-world arrangement includes:

identifying the obligation that involves both real-world and virtual world aspects.

21. The method of claim 1 wherein said confirming the willingness includes:

confirming one or more of the following as virtual collateral for the obligation;

item, access entry, achievement, award, composite virtual character, virtual character name, virtual character trait, character attribute, avatar, virtual skill, virtual key, access right, value token, virtual currency, experience points, level access, access entry, virtual property, virtual real property, virtual personal property, property right, contractual right, email account, password, key, location, site, history, log, activity log, chat log, messages, message log, list, companion list, contact list, address list, item, modified item, item component, disguise, clothing, clothing component, accessory, weapon, tool, vehicle, magical power, decoration, inventory, store credit, virtual charge account, virtual role, virtual position, group membership, proprietary right, property right, usage right, beneficiary right, all virtual rights of donor, and total virtual asset accumulation of donor.

22. The method of claim 1 wherein said confirming the willingness includes:

confirming availability of virtual world collateral that is subject to an ownership right of a party responsible for compliance with the obligation.

23. The method of claim 1 wherein said confirming the willingness includes:

confirming availability of virtual world collateral that is subject to an ownership right of a third party that is not responsible for compliance with the obligation.

24. The method of claim 1 wherein said confirming the willingness includes:

obtaining consent from a virtual world entity to provide the virtual world collateral as security.

25. The method of claim 1 wherein said confirming the willingness includes:

obtaining consent from a real-world entity to provide the virtual world collateral as security.

26. The method of claim 1 further comprising:

facilitating a relinquishment of the specified virtual world collateral in the event that the obligation has not been completed.

27. The method of claim 26 wherein said facilitating the relinquishment includes:

implementing a programmed disposition of the specified virtual world collateral, which programmed disposition is implemented automatically.

28. The method of claim 26 wherein said facilitating the relinquishment includes:

implementing one or more possible types of disposition of the specified virtual world collateral, which possible types of disposition are selected by a beneficiary of the obligation.

29. The method of claim 26 wherein said facilitating the relinquishment of the specified virtual world collateral includes:

facilitating one or more of the following types of relinquishment;

forfeiture, transfer to obligation beneficiary, transfer to designated third party, return to originator, liquidation with proceeds to obligation beneficiary, dismantling, exchange for value token, conversion, substitution, exchange, transfer related element, embargo of related element, disable related element, required transfer of component, required transfer of accessory, dilution of characteristic, depreciation of value, impairment, alteration, destruction, temporary loss, and permanent loss.

30. A computerized system that includes one or more computer program products having process instructions thereon, the computerized system comprising:

computer means operatively coupled with a virtual world environment;

an interface link providing real-world access to said computer means; and

data records including a record of one or more real-world obligations involving virtual collateral posted as security for a particular real-world obligation.

31. The system of claim 30 wherein the data records include:

a record of one or more real-world obligations based on acquisition of a real-world product and/or a real-world service and/or something having value in a real-world environment.

32. The system of claim 30 wherein the data records include:

a record of compliance and/or non-compliance regarding the one or more real-world obligations.

33. The system of claim 30 wherein the data records include:

a record of a consequence imposed as a result of non-compliance.

34. The system of claim 30 wherein the data records include:

a record of a transfer or relinquishment of the collateral as a result of non-compliance.

35. The system of claim 30 wherein the data records include:

safeguard guidelines to help prevent transfer or alteration or relocation or hiding of the virtual collateral.

36. The system of claim 30 further comprising:

controller module configured to impose transfer or relinquishment of the virtual collateral in the event the obligation is not resolved or not completed.

37. The system of claim 30 further comprising:

controller module configured to implement safeguard guidelines to help prevent transfer or alteration or relocation or hiding of the virtual collateral.

38. The system of claim 30 further comprising:

controller module configured to safeguard the virtual collateral against an unacceptable change in status.

39. The system of claim 30 further comprising:

a notification link to the virtual world environment for communicating a status of the obligation for which the virtual collateral has been posted as security.

40. A computer program product comprising:

a) program instructions configured to perform a process that associates information in a computer system, the process including

enabling one or more parties to make an arrangement that includes a real-world obligation, wherein the real-world obligation includes virtual world collateral as security for the real-world obligation,

providing for disposition of virtual world collateral in the event of unsatisfactory performance of the real-world obligation,

making a record of the arrangement including a performance record regarding compliance or non-compliance with the real-world obligation; and

b) computer-readable signal-bearing media for encoding the instructions.

41. The computer program product of claim 40, wherein the signal-bearing media includes a storage medium and/or a communication medium.

42. The computer program product of claim 40, wherein the process further includes:

providing limited read/write access to the record from a virtual world environment associated with the virtual world collateral.

43. The computer program product of claim 40, wherein the process further includes:

providing limited read/write access to the record from a real-world environment.

44. The computer program product of claim 40, further comprising process instructions encoded on storage and/or signal transmission media accessible to multiple virtual world patrons having logon capabilities at different locations.

45. The computer program product of claim 40, further comprising process instructions encoded on storage and/or signal transmission media capable of functional operation on localized computer apparatus accessible to an individual virtual world patron.