Stock credit card
First Claim
1. A method of placing a purchasing order for a financial asset comprising:
- summing at least one purchase made by a customer to form a sum, wherein the customer uses a particular financial transaction medium to make the at least one purchase and further wherein the particular financial transaction medium is associated with a seller of the financial asset;
multiplying the sum by a first factor to form a weighted sum;
retrieving a price of the financial asset;
comparing the price of the financial asset to the weighted sum to determine if the weighted sum is at least equal to the price of the financial asset; and
forwarding a message to an appropriate institution indicating that the institution is to purchase the financial asset, wherein the message is forwarded when the weighted sum is at least equal to the price of the financial asset.
1 Assignment
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Accused Products
Abstract
A method and system for purchasing assets on behalf of customers who use financial transaction media such as credit cards, ATM/CAT cards, and electronic commerce managed by a financial institution. As the customer uses his financial transaction medium to purchase goods and services, he generates a sum of purchases. This sum is converted into incentive points that are added to incentive points previously earned. When the customer has enough incentive points, the method or system purchases an asset, such as a stock, on the customer'"'"'s behalf, using the incentive points. The utilization of this method or system may be over a short-time promotional period, or it may commemorate a special occasion, or it may be used as part of a compensation package for an employee of a corporation.
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Citations
30 Claims
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1. A method of placing a purchasing order for a financial asset comprising:
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summing at least one purchase made by a customer to form a sum, wherein the customer uses a particular financial transaction medium to make the at least one purchase and further wherein the particular financial transaction medium is associated with a seller of the financial asset;
multiplying the sum by a first factor to form a weighted sum;
retrieving a price of the financial asset;
comparing the price of the financial asset to the weighted sum to determine if the weighted sum is at least equal to the price of the financial asset; and
forwarding a message to an appropriate institution indicating that the institution is to purchase the financial asset, wherein the message is forwarded when the weighted sum is at least equal to the price of the financial asset. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for placing a purchasing order for at least one financial asset comprising:
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an arithmetic logic unit that determines how many points to award in association with a purchase made using a particular transaction medium wherein the particular transaction medium is associated with a seller of the at least one financial asset;
a database that stores the points;
a first access unit that forwards the points into the database and retrieves the points and out of the database;
a second access unit that obtains a price of the at least one financial asset and forwards a report requesting purchase of the at least one financial asset; and
a controller that controls the arithmetic logic unit, the first access unit and the second access unit so that
1) the arithmetic logic unit compares the points with the price of the at least one financial asset to determine if the points equal or are greater than the price of the at least one financial asset and
2) the second access unit forwards the report requesting purchase of the at least one financial asset based on the arithmetic unit'"'"'s comparison. - View Dependent Claims (23, 24, 25, 26)
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27. A method for encouraging use of a particular financial transaction medium associated with a seller of at least one financial asset;
- comprising;
receiving data indicative of a purchase of a good or service via the particular financial transaction medium wherein the data includes a value of the good or service purchased;
associating the value with a number of points;
summing the points to form a points sum;
automatically redeeming the points sum so as to purchase the at least one financial asset when the points sum is equal to or greater than a cost of the at least one financial asset. - View Dependent Claims (28, 29)
- comprising;
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30. A method of accumulating stock in a corporation comprising:
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receiving data indicative of a purchase of a good or service via a financial transaction medium associated with the corporation, wherein the data includes a value of the good or service purchased;
providing incentive points based on the value;
adding the incentive points to obtain a total of accrued incentive points; and
automatically purchasing at least one stock in the corporation when the total of accrued incentive points is at least equal to a price for purchasing a whole number of stocks.
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Specification