RENTAL NETWORK SECURITY SYSTEM AND METHOD

• US 20090177577A1
• Filed: 01/07/2008
• Published: 07/09/2009
• Est. Priority Date: 01/07/2008
• Status: Active Grant

• Current Assignee: John Andrew Garcia
• Original Assignee: John Andrew Garcia
• Inventors: GARCIA, John Andrew
• Granted Patent: US 7,933,808 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions
• CPC Class Codes: G06Q 50/10 Services

Abstract

A system and method of facilitating a rental transaction of a tangible item is provided. Initially, a lessee pickup code is communicated from a borrowing party to an owning party upon exchanging the tangible item between the owning party and the borrowing party. The owning party subsequently transmits the lessee pickup code to a central controller. A rental period for the exchanged tangible item begins upon verifying, by the central controller, that the lessee pickup code sent by the owning party is the lessee pickup code originally provided to the borrowing party. When the tangible item is returned to the owning party, the owning party communicates a return code to the borrowing party. The return code is transmitted by the borrowing party to the central controller. The central controller verifies that the return code is the return code originally provided to the owning party.

Claims

1. A method of facilitating a rental transaction of a tangible item, the method comprising:

communicating a lessee pickup code from a lessee to a lessor upon exchanging the tangible item between the lessor and the lessee;

electronically transmitting the lessee pickup code from the lessor to the central controller;

initiating a rental period upon verifying, by the central controller, the lessee pickup code;

communicating a return code from the lessor to the lessee upon return of the tangible item to the lessor; and

electronically transmitting the return code from the lessee to the central controller.

2. The method according to claim 1, further comprising electronically transmitting the lessee pickup code, generated by the central controller, to the lessee.

3. The method according to claim 1, further comprising electronically transmitting a plurality of return codes, generated by the central controller, to the lessor.

4. The method according to claim 3, wherein the return code is selected by the lessor from the plurality of return codes.

5. The method according to claim 3, wherein the lessor adds a user identifier associated with the lessor to the return code.

6. The method according to claim 5, further comprising verifying, based on a comparison of the user identifier added to the return code and a plurality of user identifiers for the lessor stored at the central controller, that the return code submitted by the lessee comprises the return code generated by the central controller and electronically transmitted to the lessor.

7. The method according to claim 6, wherein the plurality of user identifiers for the lessor are associated with at least one of the return code and a plurality of user identifiers for the lessee.

8. The method according to claim 2, wherein the lessee adds a user identifier associated with the lessee to the lessee pickup code.

9. The method according to claim 7, wherein verifying the lessee pickup code comprises comparing the user identifier added to the lessee pickup code and a plurality of user identifiers for the lessee stored at the central controller, and determining that the lessee pickup code submitted by the lessor comprises the lessee pickup code generated by the central controller and electronically transmitted to the lessee.

10. The method according to claim 9, wherein the plurality of user identifiers for the lessee are associated with at least one of a lessee pickup code and a plurality of user identifiers for the lessor.

11. The method according to claim 3, wherein the lessee adds a user identifier associated with the lessee to the return code.

12. The method according to claim 11, further comprising verifying, based on a comparison of the user identifier added to the return code and an association among a plurality of user identifiers for the lessee and at least one of a plurality of user identifiers for the lessor and the return code stored at the central controller, that the return code submitted by the lessee comprises the return code generated by the central controller and electronically transmitted to the lessor.

13. The method according to claim 12, wherein the plurality of user identifiers for the lessor are associated with the return code.

14. The method according to claim to claim 2, wherein the lessor adds a user identifier associated with the lessor to the lessee pickup code.

15. The method according to claim 11, wherein verifying the lessee pickup code comprises comparing the user identifier added to the lessee pickup code and an association among a plurality of user identifiers for the lessor and at least one of a plurality of user identifiers for the lessee and the lessee pickup code stored at the central controller, and determining that the lessee pickup code submitted by the lessor comprises the lessee pickup code generated by the central controller and electronically transmitted to the lessee.

16. The method according to claim 15, wherein the plurality of user identifiers for the lessee are associated with the lessee pickup code.

17. The method according to claim 2, wherein verifying the lessee pickup code comprises comparing a user identifier associated with a mode of communication by which the lessee pickup code is submitted to the central controller with an association among a plurality of user identifiers for the lessor stored at the central controller and at least one of a plurality of user identifiers for the lessee and the lessee pickup code stored at the central controller, and determining that the lessee pickup code submitted by the lessor comprises the lessee pickup code generated by the central controller and electronically transmitted to the lessee.

18. The method according to claim 17, wherein the plurality of user identifiers for the lessee are associated with the lessee pickup code.

19. The method according to claim 3, further comprising verifying, based on a comparison of a user identifier associated with a mode of communication by which the return code is submitted to the central controller and an association among a plurality of user identifiers for the lessee and at least one of a plurality of user identifiers for the lessor and the return code stored at the central controller, that the return code submitted by the lessee comprises the return code generated by the central controller and electronically transmitted to the lessor.

20. The method according to claim 19, wherein the plurality of user identifiers for the lessor are associated with the return code.

21. The method according to claim 1, further comprising electronically transmitting, from the central controller, a commencement message confirming commencement of the rental period.

22. The method according to claim 1, further comprising electronically transmitting a confirmation message from the central controller to the lessee indicating receipt of the return code.

23. The method according to claim 1, wherein the return code indicates that the tangible item was returned to the lessor.

24. The method according to claim 1, wherein at least a portion of the return code indicates a level of damage to the tangible item.

25. The method according to claim 24, wherein the portion of the return code is identifiable by the lessee and the lessor as indicating the level of damage.

26. The method according to claim 1, wherein the lessee pickup code and the return code are electronically transmitted by at least one of:

Bluetooth, short messaging system, electronic mail, dual-tone multi-frequency (DTMF) signaling, intranet, Internet and wireless communication.

27. The method according to claim 1, wherein the lessee pickup code and the return code are randomly generated by the central controller.

28. The method according to claim 27, wherein the lessee pickup code and the return code comprise sequences of randomly generated alphanumeric characters.

29. The method according to claim 1, wherein the lessee pickup code and the return code are communicated via at least one of electronic and physical transmission.

30. A method of facilitating the rental of at least one tangible item, the at least one tangible item being transferred between a lessee and a lessor, the method comprising:

electronically transmitting a lessee pickup code to the lessee;

electronically transmitting a plurality of return codes to lessor;

verifying submission of the lessee pickup code by the lessor upon receiving the lessee pickup code from the lessor, the lessee communicating the lessee pickup code to the lessor upon obtaining possession of the at least one tangible item; and

verifying submission of a return code by the lessee upon receiving the return code from the lessee, the lessor communicating the return code to the lessee upon return of the at least one tangible item,

wherein the lessor selects the return code from the plurality of return codes.

31. The method according to claim 30, wherein a central controller receives the lessee pickup code and the return code, and wherein the central controller verifies the submission of the lessee pickup code and the return code.

32. The method according to claim 31, further comprising electronically transmitting, from the central controller, a message confirming commencement of a rental period upon receiving the lessee pickup code.

33. The method according to claim 32, wherein the return code is invalid after the expiration of the rental period.

34. The method according to claim 33, wherein the central controller extends the rental period by electronically transmitting at least one additional return code to the lessor.

35. The method according to claim 33, wherein the central controller extends the rental period by prompting the lessee to electronically transmit the return code.

36. The method according to claim 31, wherein a lessee user identifier is added to the lessee pickup code, and wherein a lessor user identifier is added to the return code.

37. The method according to claim 36, wherein the lessee pickup code is verified by the central controller based on a comparison of the lessee user identifier and a plurality of user identifiers stored at the central controller, and wherein the return code is verified by the central controller based on a comparison of the lessor user identifier and the plurality of user identifiers stored at the central controller.

38. The method according to claim 37, wherein the plurality of user identifiers comprise:

a telephone number, an email address, an account number, a user name, a system-generated identifier and an Internet Protocol (IP) address.

39. The method according to claim 30 wherein each of the plurality of return codes indicate a degree of damage sustained by the at least one tangible item.

40. The method according to claim 39, wherein the lessor selects the return code from the plurality of return codes based on the degree of damage sustained by the at least one tangible item.

41. The method according to claim 30, wherein the lessee pickup code and the return codes are communicated via at least one of electronic and physical transmission.

42. A system for facilitating the exchange of at least one tangible item, the at least one tangible item being exchanged between a lessor and a lessee, the system comprising:

a first interface configurable to electronically transmit a lessee pickup code to the lessee;

a second interface configurable to electronically transmit a return code to the lessor;

a first verifying processor configurable to verify submission of the lessee pickup code by the lessor upon receiving the lessee pickup code from the lessor, the lessee communicating the lessee pickup code to the lessor upon obtaining possession of the at least one tangible item; and

a second verifying processor configurable to verify submission of the return code by the lessee upon receiving the return code from the lessee, the lessor communicating the return code to the lessee upon return of the at least one tangible item.

43. The system according to claim 42, further comprising a reimbursement policy to determine a reimbursement value to compensate the lessor for either damage to or loss of the at least one tangible item.

44. The system according to claim 43, wherein the reimbursement value is based on one of:

a repair cost and a replacement cost for the at least one tangible item.

45. The system according claim 43, wherein the reimbursement policy comprises:

information associated with the at least one tangible item, the replacement cost, a rental fee and at least one repair cost based on a degree of damage to the at least one tangible item.

46. The system according to claim 44, wherein the replacement cost is determined based on information obtained from at least one of the Internet and an auction site.

47. The system according to claim 44, wherein the lessee pickup code and the return code are communicated via at least one of electronic and physical transmission.

48. A tangible computer readable medium storing a program executable to facilitate the exchange of at least one tangible item, the at least one tangible item being exchanged between a lessor and a lessee, the medium comprising:

a first transmission code executable to electronically transmit a lessee pickup code to the lessee;

a second transmission code executable to electronically transmit a plurality of return codes to the lessor;

a first receiving code executable to receive the lessee pickup code from the lessor, the lessee communicating the lessee pickup code to the lessor upon obtaining possession of the at least one tangible item;

a first verifying code executable to verify submission of the lessee pickup code by the lessor;

a second receiving code executable to receive the return code from the lessee, the lessor communicating the return code to the lessee upon return of the at least one tangible item; and

a second verifying code executable to verify submission of the return code by the lessee.

49. A method of mitigating risk in a business transaction, the method comprising:

electronically communicating an initiating code to a first party;

electronically communicating a terminating code to a second party;

verifying submission of the initiating code by the second party upon receiving the initiating code from the first party, the first party communicating the initiating code to the second party upon an occurrence of a first event; and

verifying submission of the terminating code by the first party upon receiving the terminating code from the second party, the second party communicating the terminating code to the first party upon occurrence of a second event.

50. The method according to claim 49, wherein the business transaction is conducted in accordance with a transaction agreement.

51. The method according to claim 50, wherein the terminating code is selected from a plurality of terminating codes electronically communicated to the second party.

52. The method according to claim 51, wherein the plurality of codes indicate a degree to which the business transaction varies from the transaction agreement.

53. The method according to claim 50, wherein the transaction agreement designates a value for compensating the second party.

54. The method according to claim 49, wherein the first event initiates the business transaction.

55. The method according to claim 49, wherein the second event terminates the business transaction.

56. The method according to claim 49, wherein the initiating code and the terminating code are randomly generated by a central controller.

57. The method according to claim 56, wherein the initiating code and the terminating code comprise sequences of randomly generated alphanumeric characters.

58. The method according to claim 49, wherein the initiating code and the terminating code are electronically communicated by at least one of:

Bluetooth, short messaging system, electronic mail, dual-tone multi-frequency (DTMF) signaling, intranet, Internet and wireless communication.

59. The method according to claim 56, wherein a first party user identifier is added to the initiating code, and wherein a second party user identifier is added to the terminating code.

60. The method according to claim 59, wherein the initiating code is verified by the central controller based on a comparison of the first party user identifier and a plurality of user identifiers for the first party stored at the central controller, and wherein the terminating code is verified by the central controller based on a comparison of the second party user identifier and a plurality of user identifiers for the second party stored at the central controller.

61. The method according to claim 60, wherein the plurality of user identifiers for the first party are associated with the initiating code, and wherein the plurality of user identifiers for the second party are associated with the terminating code.

62. The method according to claim 56, wherein a first party user identifier is added to the terminating code and a second party user identifier is added to the initiating code.

63. The method according to claim 62, wherein the terminating code is verified based on a comparison of the first party user identifier added to the terminating code and an association among a plurality of user identifiers for the first party and at least one of a plurality of user identifiers for the second party and the terminating code stored at the central controller, that the terminating code submitted by the first party comprises the return code generated by the central controller.

64. The method according to claim 62, wherein the initiating code is verified based on a comparison of the second party user identifier added to the initiating code and an association among a plurality of user identifiers for the second party and at least one of a plurality of user identifiers for the first party and the initiating code stored at the central controller, that the initiating code submitted by the second party comprises the initiating code generated by the central controller.

65. The method according to claim 56, wherein verifying the initiating code comprises comparing a user identifier associated with a mode of communication by which the initiating code is submitted to the central controller with an association among a plurality of user identifiers for the second party stored at the central controller and at least one of a plurality of user identifiers for the first party and the initiating code stored at the central controller, and determining that the initiating code submitted by the second party comprises the initiating code generated by the central controller.

66. The method according to claim 56, wherein verifying the terminating code comprises comparing a user identifier associated with a mode of communication by which the terminating code is submitted to the central controller and an association among a plurality of user identifiers for the first party and at least one of a plurality of user identifiers for the second party and the terminating code stored at the central controller, that the terminating code submitted by the first party comprises the terminating code generated by the central controller.

67. The method according to claim 60, wherein the plurality of user identifiers comprise:

a telephone number, an email address, an account number, a user name, a system-generated identifier and an Internet Protocol (IP) address.

68. The method according to claim 49, wherein the initiating code and the terminating code are communicated via at least one of electronic and physical transmission

73. The system according to claim 68, wherein the initiating code and the terminating code are communicated via at least one of electronic and physical transmission 74. A tangible computer readable medium storing a program executable to mitigate risk in a business transaction, the medium comprising:

a first transmission code executable to electronically transmit an initiating code to a first party;

a second transmission code executable to electronically transmit a terminating code to a second party;

a first verifying code executable to verify submission of the initiating code by the communicating the initiating code to the second party upon an occurrence of a first event; and

a second verifying code executable to verify submission of the terminating code by the first party upon receiving the terminating code from the second party, the second party communicating the terminating code to the first party upon occurrence of a second event.

69. A system for facilitating a business transaction between a first party and a second party, the system comprising:

a first interface configurable to electronically communicate an initiating code to the first party;

a second interface configurable to electronically communicate a terminating code to the second party;

a first verifying processor configurable to verify submission of the initiating code by the second party upon receiving the initiating code from the second party, the first party communicating the initiating code to the second party upon an occurrence of a first event; and

a second verifying processor configurable to verify submission of the terminating code by the first party upon receiving the terminating code from the first party, the second party communicating the terminating code to the first party upon an occurrence of second event.

70. The system according to claim 69, wherein the business transaction is a sale of property.

71. The system according to claim 70, wherein the first event comprises exchanging the property between the second party and first party.

72. The system according to claim 71, wherein the second event comprises exchanging monetary consideration associated with a value of the property between the first party and the second party.