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(12) Patent Application Publication (10) Pub. No.: US 2008/0103921 A1 CELLA Et Al

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(12) Patent Application Publication (10) Pub. No.: US 2008/0103921 A1 CELLA Et Al US 20080 103921A1 (19) United States (12) Patent Application Publication (10) Pub. No.: US 2008/0103921 A1 CELLA et al. (43) Pub. Date: May 1, 2008 (54) CONTINGENCY-BASED OPTIONS AND (60) Provisional application No. 60/137,310, filed on Jun. FUTURES FOR CONTINGENT TRAVEL 3, 1999. ACCOMMODATIONS Publication Classification (76) Inventors: Charles H. CELLA, Pembroke, MA (US); Edward J. KELLY, Wellesley, (51) Int. Cl. MA (US); Matthew P. VINCENT, G06Q 30/00 (2006.01) Georgetown, MA (US) (52) U.S. Cl. ................................................................ 705/26 Correspondence Address: STRATEGIC PATENTS P.C.. (57) ABSTRACT CFO PORTFOLIOP P.O. BOX S2OSO MINNEAPOLIS, MN 55402 (US) Disclosed herein is a system for allowing a remote user to purchase, over a distributed computer network (e.g., the (21) Appl. No.: 11/875,368 Internet), an option for a ticket and/or accommodations for a contingent event', e.g., an event which is certain to occur (22) Filed: Oct. 19, 2007 but for which the participants, content and/or location(s) are Related U.S. Application Data not predetermined. For instance, the Subject system can be used to sell options for the purchase of tickets to such (63) Continuation of application No. 09/586,723, filed on contingent events such as playoff games on the basis of what Jun. 5, 2000. teams qualify, or all-star game. 282 Y 294 292 HOTEL DINING 290 TRANSPORTATION 288 284 3O4 TICKET OTHER GOODS RENTAL LOCAL CAR ATTRACTIONS OTHER SERVICES Patent Application Publication May 1, 2008 Sheet 1 of 10 US 2008/O103921 A1 to 1 O2 1 O2 1 O2 BUYER BUYER BUYER N7 10 HOST PROVIDER > 104 108 Fig. 1 Patent Application Publication May 1, 2008 Sheet 2 of 10 US 2008/O103921 A1 104 Y. 122 124 N112 MEMORY COMMUNICATION DEVICE 112 118 OPERATING SYSTEM SERVER K APPLICATION 1 APPLICATIONN DATABASE 114 Fig. 2 Patent Application Publication May 1, 2008 Sheet 3 of 10 US 2008/O103921 A1 Patent Application Publication May 1, 2008 Sheet 4 of 10 US 2008/O103921 A1 - - - - - - - - - - - - - | | | | | | | | | | | | | | | + | | | Patent Application Publication May 1, 2008 Sheet 5 of 10 US 2008/O103921 A1 2OO 1 IDENTIFY EVENT 2O2 ENTER 204 OPTION BDS 208 Fig.5 Patent Application Publication May 1, 2008 Sheet 6 of 10 US 2008/O103921 A1 21 O IDENTIFY EVENT 212 224 INFORM USER ENTER 214 BIDS OPTION UNSUCCESSFUL BIDS 222 218 FLESS THAN COMPARE MINWIN TO 228 REJECT BID MINWIN INFORM USER OF ELGBLE BID 220 IF GREATER THAN MINWIN INCREMENT MINWIN Fig. 6 Patent Application Publication May 1, 2008 Sheet 7 of 10 US 2008/O103921 A1 BIDDENTIFIER 258 : NAME 234 238 ADDRESS 240 232 SPORT 242 TEAM 244 ROUND GAME 248 BDAMOUNT BDAMount 250 DESRED LOCATION 252 Fig. 7 Patent Application Publication May 1, 2008 Sheet 8 of 10 US 2008/O103921 A1 997 oz, 8/Z Patent Application Publication May 1, 2008 Sheet 9 of 10 US 2008/O103921 A1 282 Ya 294 292 DINING TRANSPORTATION TICKET OTHER GOODS RENTAL LOCAL CAR ATTRACTIONS OTHER SERVICES 3OO 3O2 Fig.9 Patent Application Publication May 1, 2008 Sheet 10 of 10 US 2008/O103921 A1 N DYNAMIC PAGE 3O2 GENERATOR 306 HTML PAGE STRUCTURES PROCESSOR BROWSER 31 O 3O8 OUERY MODULE DATABASEMODE | 32 -------- 2 S. -------- : DATABASE : DATABASE ------- - DATABASE ------- - Fig. 10 US 2008/O 103921 A1 May 1, 2008 CONTINGENCY-BASED OPTIONS AND FUTURES ignore event-driven contingency planning and are therefore, FOR CONTINGENT TRAVELACCOMMODATIONS in large part, unsatisfactory where the desire to purchase a good or service are primarily motivated by the outcome of BACKGROUND OF THE INVENTION an event certain in time. 0001. The advent of computer networks offers geographi 0005 An example of a market involving substantial cally distributed users unprecedented opportunities to inter uncertainty is the market for goods and services Surrounding act with each other and to work together on content. One of a sporting event, especially a sporting event in which the the most widely accepted and heavily used networks is the presence of particular teams is not known well in advance of Internet. The Internet is a global system of interconnected the time of the event. One such event is the Super Bowl. computer networks formed into a single world wide net National Football League Fans are notoriously loyal to work. A user, through the Internet, can interactively transmit messages with users in different locations. Similarly, a user particular teams, but the two particular teams that will in one location can connect to files and libraries in other appear in the Super Bowl are not known until two weeks locations. Thus, the Internet provides versatile communica before the game. A fan of a particular team may not wish tions functions and acts like a universal library, providing purchase a game ticket, airfare, hotel or other accommoda electronic access to resources and information available tions unless his or her team will be in the game; that is, the from Internet sites throughout the world. Access to the fans desire to attend the game is contingent on the outcome Internet can be had from a wide range of locations and of a future event(s), namely the progression of a team through a wide range of devices. For example, a user with through the earlier playoff games. In the present environ a laptop computer and a modem may connect to the Internet ment, hotels, air carriers and other transportation providers through a telephone jack. Wireless Internet connections are must often scramble to finalize arrangements for goods and also available. 25 services required by a particular group of people, the identity of which are not known until the occurrence of the 0002 Electronic commerce has emerged as primary use contingency, i.e., the presence of a particular pair of teams of the Internet. The global penetration of the Internet pro in the Super Bowl. Moreover, under current business sys vides merchants with the capability to merchandise their tems, the inability to identify customers until only a week or products to Substantial shopping audiences using an online two before the event prevents certain purveyors from par merchant system. Online merchant systems enable mer ticipating in the market in any effective way. For example, chants to creatively display and describe their products to charter airlines may be significantly disadvantaged where shoppers using Web pages. Merchants can layout and dis fans need to be flown to the Super Bowl from cities for play Web pages having content, such as text, pictures, Sound which the charter company does not have a regular route. and video, using HyperText Markup Language (HTML). For instance, despite the general ability of the charter Web shoppers, in turn, access a merchant's Web page using companies to offer fares lower than commercial air carriers a browser, such as Microsoft Explorer or Netscape Naviga on less than 14 day notice, the ability to book passengers can tor, installed on a client connected to the Web through an be substantially hindered by the inability of the charter to online service provider, such as the Microsoft Network or penetrate the advertising market on short notice. America OnLine. The browser interprets the HTML to format and display the merchant's page for the shopper. The online merchant system likewise enables shoppers to browse SUMMARY OF THE INVENTION through a merchant's store to identify products of interest, to 0006 Disclosed herein are methods and systems for obtain specific product information and to electronically futures and options pricing, purchasing and selling, for purchase products after reviewing product information. tickets, travel and lodging accommodations and other Ser 0003 Thus, the Internet is used to assist buyers and Vice or good associated with the event. In accordance with sellers in purchasing a variety of traditional goods and the present invention, computer networks, such as the Inter services. Novel methods of purchasing and selling have net, which allows an increasingly large number of purchas been developed, including cryptographic systems and meth ers and sellers to participate in electronic markets, may be ods for assuring authenticity of a signer of a transaction, used to facilitate options transactions for tickets to and/or electronic payment systems, and electronic auction systems accommodations based on the occurrence of Such contin and methods. Electronic commerce Internet sites typically gencies as the participation of a given team or individual, allow remotely distributed users to interact via an Internet occurrence of the event at a given location, weather condi site, through which the users execute traditional commercial tions, or the like. As used herein, except where the context transactions online. Thus, the Internet typically offers con calls for a particular type of option or futures contract, it venience, but does not significantly alter the underlying should be understood that the terms “option' and “future' transaction contexts. should be understood to encompass any contract that embodies a contingency, including so-called American and 0004. However, the present online methods of selling European options, futures, and other derivative contracts. services and goods generally do not account for the presence Depending on the context, a futures contract, where the of uncertainty in the market for those goods or services. It buyer is required to commit to purchase a particular ticket or is well recognized that a purchaser who purchases a good or other particular services at an advance date if the contin service in advance of its need may be disappointed if the gency occurs, may be desired. In other contexts, the buyer price falls, or if the need for the good or services disappears. may be given a more classic option, where the buyer has the A wide range of contingency planning measures are under opportunity to purchase, or not to purchase, if the contin taken by buyers and sellers in markets that involve uncer gency occurs.
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