SYSTEMS AND METHODS FOR TRADING CONTINGENCY BASED OPTIONS AND FUTURES FOR A TRAVEL-RELATED ITEM

• US 20100094722A1
• Filed: 10/12/2009
• Published: 04/15/2010
• Est. Priority Date: 06/03/1999
• Status: Abandoned Application

• Current Assignee: The Ticket Reserve Incorporated
• Original Assignee: The Ticket Reserve Incorporated
• Inventors: KELLY, EDWARD J., VINCENT, MATTHEW P., CELLA, CHARLES H.
• Application Number:
  US12/577,471
• Publication Number:
  US 20100094722A1
• Time in Patent Office: Days
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0607 Regulated
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Disclosed herein are methods and systems for establishing a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel-related item. The contract may be exercisable upon occurrence of a contingency and tradable in an online marketplace. In some instances, the contract may be exercisable upon future existence of the travel-related item, occurrence of a weather condition, or the outcome of a contest, any of which may be uncertain at the time of the purchase and sale of the contract.

Claims

1. A method of electronic commerce, comprising:

establishing a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel-related item, the contract being exercisable upon occurrence of a contingency, wherein the contract is tradable in an online marketplace.

2. The method of claim 1, wherein the contract obligates the purchaser to acquire the travel-related item upon occurrence of the contingency.

3. The method of claim 2, wherein the purchaser is automatically billed for the travel-related item upon occurrence of the contingency.

4. The method of claim 1, wherein the contract obligates the contract provider to provide the travel-related item upon occurrence of the contingency.

5. The method of claim 1, wherein the contract is tradable for a different contract.

6. The method of claim 1, wherein the contract is tradable for a payment.

7. The method of claim 1, wherein the travel-related item is at least one of a hotel accommodation, and airline ticket, and a car rental.

8. The method of claim 1, wherein the contingency relates to the future existence of the travel-related item.

9. The method of claim 1, wherein the contingency relates to an outcome of a contest.

10. The method of claim 1, wherein the contingency relates to a weather condition.

11. A system of electronic commerce, comprising:

a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel-related item, the contract being exercisable upon occurrence of a contingency, wherein the contract is tradable in an online marketplace.

12. The system of claim 11, wherein the contract obligates the purchaser to acquire the travel-related item upon occurrence of the contingency.

13. The system of claim 12, wherein the purchaser is automatically billed for the travel-related item upon occurrence of the contingency.

14. The system of claim 11, wherein the contract obligates the contract provider to provide the travel-related item upon occurrence of the contingency.

15. The system of claim 11, wherein the contract is tradable for a different contract.

16. The system of claim 11, wherein the contract is tradable for a payment.

17. The system of claim 11, wherein the travel-related item is at least one of a hotel accommodation, and airline ticket, and a car rental.

18. The system of claim 11, wherein the contingency relates to the future existence of the travel-related item.

19. A system of electronic commerce, comprising:

a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel accommodation, the contract being exercisable upon availability of the travel accommodation, wherein the availability of the travel accommodation is uncertain at the time of the purchase and sale.

20. The system of claim 19, wherein the contract is tradable in an online marketplace.