Method and system for reserving future purchases of goods or services

• US 8,301,550 B2
• Filed: 07/26/2011
• Issued: 10/30/2012
• Est. Priority Date: 05/08/2000
• Status: Expired due to Fees

• Current Assignee: Holdit, LLC
• Original Assignee: Smart Options LLC
• Inventors: Pappas, Christian S., Brown, Charles P.
• Primary Examiner(s): Hamilton, Lalita M
• Assistant Examiner(s): Chang, Edward
• Application Number:
  US13/190,892
• Publication Number:
  US 20110301986A1
• Time in Patent Office: 462 Days
• Field of Search: 705/35, 705/37
• US Class Current: 705/37
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 10/025 Coordination of plural reservations, e.g. plural trip segments, transportation combined with accommodation
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A method and system for reserving future purchases of airline tickets using plural electronic options. The electronic options are used to reserve plural airline fares on a plural airline routes to plural destinations and a plural of fare classes for a pre-determined period. A final airline fare, route, destination and fare class is determined when the electronic option is actually exercised. All other reservations are automatically canceled. The method and system allows the electronic options to be purchased to book now and pay later for airline tickets and other travel related goods and services such rental cars, hotel rooms, event tickets, local attraction tickets, theme park tickets, etc.

Claims

1. A method for providing automatic execution of electronic options, comprising:

providing a plurality of electronic options for airline tickets to a plurality of client network devices each with one or more processors from a first server network device with one or more processors via a computer network, wherein the plurality of electronic options include specialized airline option terms that each allow the reservation of a plurality of airline fares on a plurality of airline routes to a plurality destinations and a plurality of fare classes for a pre-determined period, 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 the plurality of electronic options are available for purchase via a plurality of different pre-determined option fees;

receiving securely on the first server network device a single pre-determined option fee from a first client network device to purchase a single electronic option with the specialized airline option terms for a desired airline ticket via the computer network;

recording on the first server network device the purchase of the purchased single electronic option for in a database associated with the server network device;

accepting on the first server network device the specialized airline option terms of the recorded purchased single electronic option to accept a plurality of desired airline fares on a plurality of desired airline routes to a plurality of desired destinations and a plurality of desired fare classes until final travel plans are determined associated with the purchased single electronic option;

receiving on the first server network device one or more selection messages for selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option from the first client network device via the computer network;

reserving from the first server network device via the computer network a plurality of actual different airline seats for the received selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option, wherein the purchased single electronic option allows the plurality of different actual airline seats to be temporarily reserved without purchasing any actual airline tickets for the plurality of different actual airline seats until the final travel plans are determined;

receiving on the first server network device a final selection message to exercise the purchased single electronic option including selection of one or more final desired airline fares on one or more final desired airline routes to one or more final desired destinations for one or more final desired fare classes from the first client network device via the computer network;

exercising from the first server network device via the computer network the purchased single electronic option at a final option exercise price to purchase one or more final actual airline seats for the one or more final desired airline tickets for the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes, wherein the one or more final desired airline fares are determined by the exercised final option exercise price and a set of other pre-determined factors;

booking from the first server network device via the computer network for the purchased single electronic option exercised at the final option exercise price the one or more final actual airline seats for the purchased final desired one or more airline tickets for the one or more final desired airline fares on the final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes and

canceling automatically on the first server network device via the computer network all other reserved actual airline seats for the selections of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes not including the one or more final airline seats for the one or more final airline tickets with the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes.

3. The method of claim 1 wherein the set of other pre-determined factors include a number of accumulated game, reward or loyalty points, a number of accumulated miles, electronic coupon information from a couponing site, or electronic information from a social networking site.

4. The method of claim 1 wherein the final option exercise price is determined as a lowest price for the desired good or service during a specified time period as a pre-determined external price factor calculated based on a low, high, or average level during a specified time period for the pre-determined external price factor, based on a number of electronic options actually purchased, is determined based on an occurrence of an external event or based on actual availability of the airline tickets.

5. The method of claim 1 wherein the server network devices include a wireless networking interface comprising a Worldwide Interoperability for Microwave Access (WiMax) wireless networking interface with 4^th generation (4G) wireless speeds for communicating with the computer network and the plurality of client network devices.

6. The method of claim 1 wherein the sending securely step includes sending securely using a Wireless Encryption Protocol (WEP), Wireless-Wi-Fi Protected Access (WPA), Robust Security Network (RSN), Advanced Encryption Standard (AES), Data Encryption Standard (DES), Triple Data Encryption Standard (3DES), Secure Hash Algorithm (SHA), Message Digest-5 (MD-5), Electronic Code Book (ECB), Diffie and Hellman (DH), HyperText Transport Protocol Secure, (HTTPs), Secure Sockets Layer (SSL), or a Transport Layer Security (TLS) security method.

7. The method of claim 1 wherein the step of receiving on the first server network device the single pre-determined option fee includes receiving the single pre-determined option fee from a smart application on the client network device, wherein the client network device comprises a smart phone or tablet computer.

8. The method of claim 1 further comprising:

sending the received one or more selection messages from the first server network device to other selected client network devices via the computer network to allow a trip to be coordinated among the first client network device and the other selected client network devices with the purchased single electronic option, wherein the received one or more selection messages include a list of the other selected client network devices to send the one or more selection messages to.

9. The method of claim 1 wherein a set of the plurality of electronic options for airline tickets is provided by a server network device associated with a social networking site, a couponing site or an e-commerce site.

10. The method of claim 1 further comprising:

providing a second set of electronic options for desired travel related goods and services to the plurality of client network devices from the first server network device via the computer network;

receiving securely on the first server network device two or more pre-determined option fees from the first client network device to purchase two or more second electronic options for two or more desired travel related goods and services via the computer network;

associating automatically on the first server network device the purchased two or more second electronic options for the desired travel goods and services with the single electronic option purchased for the desired airline ticket; and

exercising automatically on the first server network device the purchased single electronic option at the final option exercise price and the two or more purchased second electronic options at second final option exercise prices to connect purchasing the final desired airline ticket with purchasing the one or more desired travel related goods and services.

11. The method of claim 10 wherein the desired travel related goods and services include rental car reservations, hotel room reservations, hotel amenities, local attraction tickets, event tickets, or theme park tickets.

12. The method of claim 10 wherein the associating step includes:

combining the two or more purchased second electronic options for the desired travel goods and services with the single electronic option purchased for the desired airline ticket to create a combined electronic option.

13. The method of claim 12 further comprising:

exercising automatically on the first server network device the combined electronic option to provide the final desired airline ticket and the one or more desired travel related goods and services.

14. The method of claim 10 wherein the step of exercising automatically on the first server network device the two or more purchased second electronic options includes:

exercising automatically a first set of selected ones of the two or more purchased second electronic options as fully aligned electronic options wherein exercise dates and expiration dates are identical for all the two or more purchased second electronic options, or

exercising automatically a second set of selected ones of the two or more purchased second electronic options as partially aligned electronic options,

wherein exercise dates and expiration dates for the second set of selected ones of the two or more purchased second electronic options are not identical, or

exercising automatically a third set of selected ones of the two or more purchased second electronic options as unaligned electronic options wherein exercise and expiration dates are all different for all of the third set of selected ones of the two or more purchased second electronic options.

15. The method of claim 10 wherein the step of providing a plurality of second electronic options for desired travel related goods and services includes:

providing a plurality of different dates, times and prices for the desired travel related goods and services; and

providing a third set of electronic options for desired travel related goods and services to the plurality of client network devices from the first server network device via the computer network.

17. The method of claim 1 wherein the purchased single electronic option can be resold in another electronic options market by setting a fixed purchase price or by negotiating a purchase price with a another buyer.

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:

providing a plurality of electronic options for airline tickets to a plurality of client network devices each with one or more processors from a first server network device with one or more processors via a computer network, wherein the plurality of electronic options include specialized airline option terms that each allow the reservation of a plurality of airline fares on a plurality of airline routes to a plurality destinations and a plurality of fare classes for a pre-determined period, 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 the plurality of electronic options are available for purchase via a plurality of different pre-determined option fees;

receiving securely on the first server network device a single pre-determined option fee from a first client network device to purchase a single electronic option with the specialized airline option terms for a desired airline ticket via the computer network;

recording on the first server network device the purchase of the purchased single electronic option for in a database associated with the server network device;

accepting on the first server network device the specialized airline option terms of the recorded purchased single electronic option to accept a plurality of desired airline fares on a plurality of desired airline routes to a plurality of desired destinations and a plurality of desired fare classes until final travel plans are determined associated with the purchased single electronic option;

receiving on the first server network device one or more selection messages for selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option from the first client network device via the computer network;

reserving from the first server network device via the computer network a plurality of actual different airline seats for the received selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option, wherein the purchased single electronic option allows the plurality of different actual airline seats to be temporarily reserved without purchasing any actual airline tickets for the plurality of different actual airline seats until the final travel plans are determined;

receiving on the first server network device a final selection message to exercise the purchased single electronic option including selection of one or more final desired airline fares on one or more final desired airline routes to one or more final desired destinations for one or more final desired fare classes from the first client network device via the computer network;

exercising from the first server network device via the computer network the purchased single electronic option at a final option exercise price to purchase one or more final actual airline seats for the one or more final desired airline tickets for the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes, wherein the one or more final desired airline fares are determined by the exercised final option exercise price and a set of other pre-determined factors;

booking from the first server network device via the computer network for the purchased single electronic option exercised at the final option exercise price the one or more final actual airline seats for the purchased final desired one or more airline tickets for the one or more final desired airline fares on the final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes and

canceling automatically on the first server network device via the computer network all other reserved actual airline seats for the selections of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes not including the one or more final airline seats for the one or more final airline tickets with the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes.

16. A system for providing automatic execution of electronic options during a purchase transaction, comprising in combination:

means for providing a plurality of electronic options for airline tickets to a plurality of client network devices each with one or more processors from a first server network device with one or more processors via a computer network, wherein the plurality of electronic options include specialized airline option terms that each allow the reservation of a plurality of airline fares on a plurality of airline routes to a plurality destinations and a plurality of fare classes for a pre-determined period, 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 the plurality of electronic options are available for purchase via a plurality of different pre-determined option fees;

means for receiving securely on the first server network device a single pre-determined option fee from a first client network device to purchase a single electronic option with the specialized airline option terms for a desired airline ticket via the computer network;

means for recording on the first server network device the purchase of the purchased single electronic option for in a database associated with the server network device;

means for accepting on the first server network device the specialized airline option terms of the recorded purchased single electronic option to accept a plurality of desired airline fares on a plurality of desired airline routes to a plurality of desired destinations and a plurality of desired fare classes until final travel plans are determined associated with the purchased single electronic option;

means for receiving on the first server network device one or more selection messages for selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option from the first client network device via the computer network;

means for reserving from the first server network device via the computer network a plurality of actual different airline seats for the received selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option, wherein the purchased single electronic option allows the plurality of different actual airline seats to be temporarily reserved without purchasing any actual airline tickets for the plurality of different actual airline seats until the final travel plans are determined;

means for receiving on the first server network device a final selection message to exercise the purchased single electronic option including selection of one or more final desired airline fares on one or more final desired airline routes to one or more final desired destinations for one or more final desired fare classes from the first client network device via the computer network;

means for exercising from the first server network device via the computer network the purchased single electronic option at a final option exercise price to purchase one or more final actual airline seats for the one or more final desired airline tickets for the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes, wherein the one or more final desired airline fares are determined by the exercised final option exercise price and a set of other pre-determined factors;

means for booking from the first server network device via the computer network for the purchased single electronic option exercised at the final option exercise price the one or more final actual airline seats for the purchased final desired one or more airline tickets for the one or more final desired airline fares on the final desired airline routes to the one or more final desired destination destinations for the one or more final desired fare classes and

means for canceling automatically on the first server network device via the computer network all other reserved actual airline seats for the selections of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes not including the one or more final airline seats for the one or more final airline tickets with the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes;

means for providing a second set of electronic options for desired travel related goods and services to the plurality of client network devices from the first server network device via the computer network;

means for receiving securely on the first server network device two or more pre-determined option fees from the first client network device to purchase two or more second electronic options for two or more desired travel related goods and services via the computer network;

means for associating automatically on the first server network device the purchased two or more second electronic options for the desired travel goods and services with the single electronic option purchased for the desired airline ticket; and

means for exercising automatically on the first server network device the purchased single electronic option at the final option exercise price and the two or more purchased second electronic options at second final option exercise prices to connect purchasing the final desired airline ticket with purchasing the one or more desired travel related goods and services.