Method and system for reserving future purchases of goods and services

• US 7,865,424 B2
• Filed: 05/23/2007
• Issued: 01/04/2011
• 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): Kyle; Charles R
• Assistant Examiner(s): Niquette; Robert R
• Application Number:
  US11/805,564
• Publication Number:
  US 20080021810A1
• Time in Patent Office: 1,322 Days
• Field of Search: 705 35- 45
• US Class Current: 705/37
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0225 Avoiding frauds
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• 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 50/10 Services
• CPC Class Codes: Y10S 707/99931 Database or file accessing

Abstract

A method and system for reserving future purchases of goods or services. Plural electronic options include electronic option terms established by one or more suppliers who can supply the goods or services. The option terms vary greatly among the individual suppliers and no two suppliers may use the same option terms. Use of variable option terms provides significant flexibility for use of the electronic options by suppliers. The method and system may also allow a purchaser to risk a small amount of money to use an electronic option to reserve a price to purchase or not purchase desired goods or services that may or may not ever exist at a desired future time.

Claims

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

reading a database accessible from a computer network from a server network device with one or more processors, wherein the database includes a plurality of entries with electronic option information, wherein the electronic option information includes a plurality of electronic options supplied and governed by one or more different suppliers, 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 electronic option information further includes a plurality of different electronic option terms for the plurality of different suppliers, wherein the electronic option terms for a desired supplier are unique to the desired supplier;

creating a plurality of new electronic offers based on desired goods or services associated with the electronic option information, wherein the plurality of new electronic offers include a plurality of reservation prices and a plurality of associated option fees, wherein an option fee is not part of a reservation price paid to purchase desired goods or services at a desired future time and wherein selected ones of the plurality of electronic options include electronic options for goods or services that do not currently exist and may never exist and other selected ones of the plurality of electronic options include electronic options for a sporting event or entertainment event that may or many never happen;

sending one or more of the plurality of new electronic offers to selected client network devices each with one or more processors for selected potential purchasers of electronic options;

accepting purchases of electronic options for option fees for desired goods or services for one or more desired suppliers on the server network device from one or more selected client network devices, wherein the purchase of the electronic option is accepted according to electronic option terms established by the desired supplier providing the electronic option;

determining an economic feasibility of continuing to offer the purchased electronic option using a plurality of pre-determine factors including a number of electronic options purchases for desired goods or services; and

allowing a purchaser of an electronic option to exercise the electronic option at any time before the desired future time to purchase the desired goods or services at the reservation price, at the desired future time to purchase the desired goods or services at the reservation price, a price lower than the reservation price or a price higher than the reservation price or to not exercise the electronic option at all and not purchase the desired goods or services at all.

2. A computer readable medium having stored therein instructions for causing a central processing unit to execute the method of claim 1.

3. The method of claim 1 further comprising:

providing a database accessible from a computer network to a plurality of target network devices with one or more processors including a plurality of entries with electronic option information, wherein the electronic option information includes a plurality of electronic options supplied and governed by one or more different suppliers, 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 electronic option information further includes a plurality of different electronic option terms for the plurality of different suppliers, wherein the electronic option terms for a desired supplier are unique to the desired supplier; and

providing access to the database for a fee to offer to a plurality of server network devices with one or more processors for a plurality of different suppliers who desire to use the electronic option information to offer similar or other goods or services to users who have purchased electronic options for goods or services from desired suppliers.

4. A computer readable medium having stored therein instructions for causing a central processing unit to execute the method of claim 3.

5. The method of claim 1 further comprising a plurality of option fees in which a first portion of the option fee is paid to an electronic option service that provided the electronic option and a second portion of the option fee is paid to a desired supplier who provides a desired good or service.

6. The method of claim 1 further comprising a plurality of option fees in which an option service is paid a percentage of an option fee as well as a percentage of a purchase price for every good or service that is actually purchased by exercising an electronic option.

7. The method of claim 1 further comprising a plurality of option fees in which all of the option fee is paid to a supplier of a desired good or service and an option service is paid only a percentage of a purchase price to purchase a good or service for an electronic option that is actually exercised.

8. The method of claim 1 wherein the plurality of goods include a plurality of different types of tickets for a plurality of different types of events.

9. An electronic option system for goods and services, comprising in combination:

a server network device, for providing a list of available goods or services including a plurality of electronic options with associated option fees for the goods or services, wherein the plurality of electronic options include electronic option terms established by one or more suppliers who can supply the goods or services and wherein an option fee is associated with a reservation price to purchase desired goods or services at a desired future time, 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 electronic option information further includes a plurality of different electronic option terms for the plurality of different suppliers, wherein the electronic option terms for a desired supplier are unique to the desired supplier, for providing electronic option terms for a selected goods or service for a desired supplier who can supply the selected good or service, for accepting a purchase of an electronic option for an option fee for a desired good or service for a desired supplier on the server network device, wherein the purchase of the electronic option is accepted according to electronic option terms established by the desired supplier; and

for providing a confirmation for purchase of the electronic option for the option fee to the client network device;

a client network device, for receiving a list of available goods or services including a plurality of electronic options with associated option fees for the goods or services, from a server network device on a client network device via a computer network, wherein the plurality of electronic options include electronic option terms established by one or more suppliers who can supply the goods or services and wherein an option fee is associated with a reservation price to purchase desired goods or services at a desired future time, selecting an electronic option associated with a desired good or service provided by a desired supplier, for receiving electronic option terms established by the desired supplier for the desired good or service, for accepting electronic option terms established by the desired supplier for the desired good or service, for purchasing the electronic option on the desired good or service provided by the desired supplier based on the accepted electronic option terms established by the desired supplier for an option fee; and

for receiving a confirmation for purchasing the electronic option from the server network device on the client network device; and

one or more databases associated with the server network device to store a plurality of electronic option information.

10. An electronic option system for goods and services, comprising in combination:

means for reading a database accessible from a computer network from a server network device with one or more processors, wherein the database includes a plurality of entries with electronic option information, wherein the electronic option information includes a plurality of electronic options supplied and governed by one or more different suppliers, 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 electronic option information further includes a plurality of different electronic option terms for the plurality of different suppliers, wherein the electronic option terms for a desired supplier are unique to the desired supplier;

means for creating a plurality of new electronic offers based on desired goods or services associated with the electronic option information, wherein the plurality of new electronic offers include a plurality of reservation prices and a plurality of associated option fees, wherein an option fee is not part of a reservation price paid to purchase desired goods or services at a desired future time and wherein selected ones of the plurality of electronic options include electronic options for goods or services that do not currently exist and may never exist and other selected ones of the plurality of electronic options include electronic options for a sporting event or entertainment event that may or many never happen;

means for sending one or more of the plurality of new electronic offers to selected client network devices each with one or more processors for selected potential purchasers of electronic options;

means for accepting purchases of electronic options for option fees for desired goods or services for one or more desired suppliers on the server network device from one or more selected client network devices, wherein the purchase of the electronic option is accepted according to electronic option terms established by the desired supplier providing the electronic option;

means for determining an economic feasibility of continuing to offer the purchased electronic option using a plurality of pre-determine factors including a number of electronic options purchases for desired goods or services; and

means for allowing a purchaser of an electronic option to exercise the electronic option at any time before the desired future time to purchase the desired goods or services at the reservation price, at the desired future time to purchase the desired goods or services at the reservation price, a price lower than the reservation price or a price higher than the reservation price or to not exercise the electronic option at all and not purchase the desired goods or services at all.