Method and system for reserving future purchases of goods and services

• US 7,996,292 B2
• Filed: 12/21/2007
• Issued: 08/09/2011
• Est. Priority Date: 05/08/2000
• Status: Expired due to Fees

• Current Assignee: Holdit, LLC
• Original Assignee: Option It Incorporated (Learning Technologies Group Plc)
• Inventors: Pappas, Christian S., Brown, Charles P.
• Primary Examiner(s): Kalinowski; Alexander
• Assistant Examiner(s): Chang; Edward
• Application Number:
  US12/005,149
• Publication Number:
  US 20080215495A1
• Time in Patent Office: 1,327 Days
• Field of Search: 705/35
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A method and system for reserving future purchases of goods or services using plural electronic options with associated option fees. The plural electronic options include a hierarchy of electronic options and plural different types electronic options terms.

Claims

1. A method for providing electronic options for goods or services, comprising:

transmitting from a server network device with one or more processors to a client network device with one or more processors via a computer network, a list of available goods or services including a plurality of electronic options with associated electronic option fees for the list of goods or services, wherein the plurality of electronic options include a plurality of different electronic option terms established by one or more suppliers who can supply the goods or services, wherein the plurality of electronic options are not supplied or governed via a central government agency and are not supplied or governed via security laws and wherein an electronic option fee is associated with a reservation price to purchase desired goods or services at a desired future time;

transmitting from the server network device a hierarchy of electronic options for a selected good or service for a desired supplier who can supply the selected good or service, wherein the hierarchy of electronic options includes selected ones of electronic options purchased for goods or services that do not currently exist and may never exist and other selected ones of electronic options purchased for a sporting event or entertainment event that may or may never happen, and vet other selected ones of the electronic options purchased for goods or services that do exist and sporting events or entertainment events that will happen;

accepting a purchase of an electronic option from the hierarchy of electronic options for an option fee for a desired good or service for a desired supplier at a desired reservation price on the server network device from the client network device via the communications network, wherein the purchase of the electronic option is accepted according to electronic option terms established by the desired supplier and wherein a final purchase price for a desired good or service is determined by a number of electronic options for the desired good or service purchased from the hierarchy of electronic options and may be different than a reservation price included in the electronic option;

determining on the server network device an interest in the goods or services with a number of purchases of electronic options from the hierarchy of electronic options, wherein the determined interest provides an economic feasibility of continuing to develop the desired good or service or is used to determine final pricing and final features for the desired good or service; and

receiving a request from a purchaser of an electronic option to exercise the electronic option on the server network device from the client network device via the computer network to purchase the desired good or service at a final purchase price, wherein the final purchase price of the desired good or service is directly determined by a number of electronic options purchased from the hierarchy of electronic options and wherein if a large number of electronic options have been purchased for the desired good or service, the final purchase price of the desired good or service will be greater than the reservation price included in the electronic option.

3. The method of claim 1 wherein the hierarchy includes electronic options for goods including tickets for sporting events or entertainment events.

4. The method of claim 1 wherein the hierarchy includes a hierarchy of electronic options for a plurality of different models for a desired good or service.

5. The method of claim 1 further comprising:

receiving terms for an electronic option in the hierarchy of electronic options for a selected good or service on the server network device via the computer network from the client network device;

calculating an electronic option fee based on the received electronic option terms; and

storing the received electronic option terms and calculated electronic option fee in a database associated with the server network device as an available electronic option.

6. The method of claim 5 further comprising:

determining a final purchase price for a desired good or service directly by a number of electronic options purchased from the hierarchy of electronic options; and

storing the final purchase price in the database associated with the server network device.

7. The method of claim 5 wherein the receiving step includes:

receiving terms for an electronic option that are desired by a consumer from the client network device via the communications network; and

accepting via a supplier the electronic option terms desired by the consumer, thereby creating a new available electronic option created by the consumer and accepted and supplied by a supplier who can supply the desired good or service.

8. The method of claim 7 further comprising:

offering an available electronic option with electronic option terms desired by the consumer and an electronic option fee calculated from the desired consumer to other consumers and thus allowing the consumer who proposed the electronic options terms to act as an electronic option broker.

9. The method of claim 8 further comprising:

recording information in the database to identify the consumer who is acting as the electronic option broker.

10. The method of claim 5 wherein the electronic option terms obligate an option holder to purchase the good or service at the time of expiration of the electronic option.

11. The method of claim 5 wherein the electronic option terms obligate an option holder to purchase the good or service upon first availability of the good or service.

12. The method of claim 5 wherein the electronic option terms include a conditional event that obligates an option holder to purchase the good or service upon successful completion of the conditional event.

13. The method of claim 5 wherein the electronic option terms include a conditional event that obligates the option holder to purchase the good or service upon at a specified date after successful completion of the conditional event.

14. The method of claim 5 wherein the electronic option terms include a conditional event that does not obligate the option holder to purchase the good or service upon at a specified date after successful completion of the conditional event.

15. The method of claim 5 wherein the calculating step includes calculating an electronic option fee with offer or counteroffer negotiation between a supplier and a consumer.

16. The method of claim 5 wherein the server network device is a dedicated electronic options exchange server.

17. The method of claim 16 wherein the dedicated electronic options exchange server charges a service fee to a buyer or seller or buyer and seller of an electronic option that is purchased via the dedicated electronic options exchange server.

18. The method of claim 5 wherein the received electronic option terms specify that if the goods or service does not become available by a pre-determined date or conditional event, a portion of the electronic option fee will be refunded.

19. The method of claim 5 wherein the received electronic option terms specify that if the goods or service does not become available by a pre-determined date or conditional event, a substitute good or service is made available that may be of greater, less than or equal value to the original product at a price that is greater, less than, or equal to the original exercise price of the option.

21. The method of claim 5 wherein a number electronic options purchased from the hierarchy of electronic options are used to determine an economic feasibility of continuing to develop the desired good or service or used to determine final features included in the desired good or service.

22. The method of claim 21 wherein the calculating step includes calculating the electronic option fee based on a winning bid of an auction to purchase an electronic option for the desired good or service.

2. A non-transitory computer readable medium having stored therein a plurality of instructions for causing one or more processors on a network device to execute the steps of:

transmitting from a server network device with one or more processors to a client network device with one or more processors via a computer network, a list of available goods or services including a plurality of electronic options with associated electronic option fees for the list of goods or services, wherein the plurality of electronic options include a plurality of different electronic option terms established by one or more suppliers who can supply the goods or services, wherein the plurality of electronic options are not supplied or governed via a central government agency and are not supplied or governed via security laws-and wherein an electronic option fee is associated with a reservation price to purchase desired goods or services at a desired future time;

transmitting from the server network device a hierarchy of electronic options for a selected good or service for a desired supplier who can supply the selected good or service, wherein the hierarchy of electronic options includes selected ones of electronic options purchased for goods or services that do not currently exist and may never exist and other selected ones of electronic options purchased for a sporting event or entertainment event that may or may never happen, and vet other selected ones of the electronic options purchased for goods or services that do exist and sporting events or entertainment events that will happen;

accepting a purchase of an electronic option from the hierarchy of electronic options for an option fee for a desired good or service for a desired supplier at a desired reservation price on the server network device from the client network device via the communications network, wherein the purchase of the electronic option is accepted according to electronic option terms established by the desired supplier and wherein a final purchase price for a desired good or service is determined by a number of electronic options for the desired good or service purchased from the hierarchy of electronic options and may be different than a reservation price included in the electronic option;

determining on the server network device an interest in the goods or services with a number of purchases of electronic options from the hierarchy of electronic options, wherein the determined interest provides an economic feasibility of continuing to develop the desired good or service or is used to determine final pricing and final features for the desired good or service; and

receiving a request from a purchaser of an electronic option to exercise the electronic option on the server network device from the client network device via the computer network to purchase the desired good or service at a final purchase price, wherein the final purchase price of the desired good or service is directly determined by a number of electronic options purchased from the hierarchy of electronic options and wherein if a large number of electronic options have been purchased for the desired good or service, the final purchase price of the desired good or service will be greater than the reservation price included in the electronic option.

20. A system for providing electronic options for goods or services, comprising in combination:

means for receiving terms for an electronic option on a server network device with one or more processors via a computer network from a client network device with one or more processors;

means for calculating an electronic option fee on the server network device based on the received electronic option terms;

means for storing the received electronic option terms and the calculated electronic option fee are stored in a database associated with the server network device;

means for transmitting from the server network device to the client network device via the computer network, a list of available goods or services including a plurality of electronic options with associated electronic option fees for the list of goods or services, wherein the plurality of electronic options include a plurality of different electronic option terms established by one or more suppliers who can supply the goods or services, wherein the plurality of electronic options are not supplied or governed via a central government agency and are not supplied or governed via security laws-and wherein an electronic option fee is associated with a reservation price to purchase desired goods or services at a desired future time;

means for transmitting from the server network device a hierarchy of electronic options for a selected good or service for a desired supplier who can supply the selected good or service, wherein the hierarchy of electronic options includes selected ones of electronic options purchased for goods or services that do not currently exist and may never exist and other selected ones of electronic options purchased for a sporting event or entertainment event that may or may never happen, and yet other selected ones of the electronic options purchased for goods or services that do exist and sporting events or entertainment events that will happen;

means for accepting a purchase of an electronic option from the hierarchy of electronic options for an option fee for a desired good or service for a desired supplier at a desired reservation price on the server network device from the client network device via the communications network, wherein the purchase of the electronic option is accepted according to electronic option terms established by the desired supplier and wherein a final purchase price for a desired good or service is determined by a number of electronic options for the desired good or service purchased from the hierarchy of electronic options and may be different than a reservation price included in the electronic option;

means for determining on the server network device an interest in the goods or services with a number of purchases of electronic options from the hierarchy of electronic options, wherein the determined interest provides an economic feasibility of continuing to develop the desired good or service or is used to determine final pricing and final features for the desired good or service;

means for receiving a request from a purchaser of an electronic option to exercise the electronic option on the server network device from the client network device via the computer network to purchase the desired good or service at a final purchase price, wherein the final purchase price of the desired good or service is directly determined by a number of electronic options purchased from the hierarchy of electronic options and wherein if a large number of electronic options have been purchased for the desired good or service, the final purchase price of the desired good or service will be greater than the reservation price included in the electronic option;

means for receiving electronic option terms for an electronic option that is desired by a consumer from the client network device via the communications network on the server network device;

means for accepting via a supplier the electronic option terms desired by the consumer on the server network device, thereby creating a new available electronic option created by the consumer and accepted and supplied by a supplier who can supply the desired good or service; and

means for offering new available electronic options with electronic option terms desired by the consumer and an electronic option fee calculated from the accepted electronic option terms desired consumer to other consumers from the server network device and thus allowing the consumer who proposed the electronic options terms to act as an electronic option broker.