Method and system for reserving future purchases of goods and services

• US 8,032,447 B2
• Filed: 12/16/2010
• Issued: 10/04/2011
• 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
• Assistant Examiner(s): Niquette; Robert
• Application Number:
  US12/970,165
• Publication Number:
  US 20110131109A1
• Time in Patent Office: 292 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 or events including plural electronic options with associated option fees for the goods or services or events. The plural electronic options include electronic option terms established by one or more suppliers who can supply the goods or services or events. The purchase of the electronic option is accepted according to electronic option terms established by the desired supplier. The option terms may vary greatly among the individual suppliers and no two suppliers may use the same option terms. Final pricing and final features of the goods or services or final pricing of events is determined using electronic counters for accepted purchases of electronic options that have decremented down to a desired pre-determined value.

Claims

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

reading a plurality of entries from a database accessible from a computer network from a server network device with one or more processors, wherein the plurality of entries include 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 or events 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 or events 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 may never happen; and

adding electronic counters to the plurality of electronic options associated with the created plurality of new electronic offers, wherein the electronic counters include a number of electronic options available for the goods or services or events;

sending one or more of the plurality of new electronic offers to selected client network devices each with one or more processors via the computer network 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;

decrementing in real-time electronic counters for accepted purchases of electronic options;

determining final pricing and final features of the goods or services or final pricing of events using electronic counters that have been decremented down to a desired pre-determined value; 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, at a price lower than the reservation price or at 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. The method of claim 1 further comprising:

determining final pricing and final features of the goods or services that do not currently exist and may never exist and for the sporting event or entertainment event that may or may never happen using electronic counters that have decremented down to a desired pre-determined value.

3. The method of claim 1 wherein the step of determining final pricing and final features of the goods or services or events using electronic counters includes electronic counters that have decremented down to a desired pre-determined value of zero.

4. The method of claim 1 wherein the electronic options include only electronic options for low price, low volume, low margin, or low risk goods or services or events.

5. The method of claim 1 wherein the electronic options include a volatility factor with a range of reservation prices.

6. The method of claim 5 further comprising:

determining with the volatility factor whether demand for a desired good or service or event is weak, and if so, allowing purchase of the desired good or service or event at a final price equal to a reservation price associated with an electronic option;

determining with the volatility factor whether demand for the desired good or service or event is strong, and if so, allowing purchase of the desired good or service or event only at a final price higher than the reservation price associated with the electronic option.

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

reading a plurality of entries from a database accessible from a computer network from a server network device with one or more processors, wherein the plurality of entries include 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 or events 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 or events 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 may never happen; and

adding electronic counters to the plurality of electronic options associated with the created plurality of new electronic offers, wherein the electronic counters include a number of electronic options available for the goods or services or events;

adding volatility factors with a range of reservation prices to the plurality of electronic options, wherein the volatility factors are used to determine a final reservation price for purchasing the goods or services or events associated with the plurality of electronic options;

sending one or more of the plurality of new electronic offers to selected client network devices each with one or more processors via the computer network 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;

decrementing in real-time electronic counters for accepted purchases of electronic options;

determining final pricing and final features of the goods or services or final pricing of events using electronic counters that have decremented down to a desired pre-determined value;

determining with the volatility factor whether demand for a desired good or service or event is weak, and if so, setting a final reservation price equal to an original reservation price associated with an electronic option;

determining with the volatility factor whether demand for the desired good or service or event is strong, and if so, setting a final reservation price equal to a higher price than an original reservation price associated with an electronic option; 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, at a price lower than the reservation price or at 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.

8. A system for using electronic options for goods or services or events comprising in combination:

a non-transitory computer readable medium on a server network device with one or more processors including a plurality of instructions;

for reading a plurality of entries from a database accessible from a computer network from the server network device with one or more processors, wherein the plurality of entries include 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;

for creating a plurality of new electronic offers based on desired goods or services or events 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 or events 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 may never happen;

for adding electronic counters to the plurality of electronic options associated with the created plurality of new electronic offers, wherein the electronic counters include a number of electronic options available for the goods or services or events;

for adding volatility factors with a range of reservation prices to the plurality of electronic options, wherein the volatility factors are used to determine a final reservation price for purchasing the goods or services or events associated with the plurality of electronic options;

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

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;

for decrementing in real-time electronic counters for accepted purchases of electronic options;

for determining final pricing and final features of the goods or services or final pricing of events using electronic counters that have decremented down to a desired pre-determined value;

for determining with the volatility factor whether demand for a desired good or service or event is weak, and if so, setting a final reservation price equal to an original reservation price associated with an electronic option;

for determining with the volatility factor whether demand for the desired good or service or event is strong, and if so, setting a final reservation price equal to a higher price than an original reservation price associated with an electronic option; and

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, at a price lower than the reservation price or at 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.

9. The system of claim 8 wherein the electronic options include only electronic options for low price, low volume, low margin, or low risk goods or services or events.