System and method for constraining depletion amount in a defined time frame

US7945501B2 · kind B2 · utility

Assignee

• Pricelock, Inc. · US

Inventors

• Robert M. Fell · Summerland, US
• Scott Painter · Beverly Hills, US
• Michael R. Bonsignore · Seattle, US
• Brian P. Reed · Southlake, US
• Gary A. Magnuson · Port Aransas, US

Key dates

• Filing date: Apr 8, 2008
• Grant date: May 17, 2011
• Expiry date: Feb 21, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Embodiments disclosed herein provide price protection on commodity purchases in which a consumer can select, accept, or otherwise agree to a depletion constraint on the consumption of the commodity thus purchased. Based on the agreed depletion constraint, a provider may adjust terms and/or the price of the price protection. In some embodiments, the depletion constraint can be time-based, quantity-based, value-based, or a combination thereof. In some embodiments, the depletion constraint can be linear. In some embodiments, a consumer may be required to purchase a certain amount of the commodity during a specified time frame. In some embodiments, the provider of the price protection may receive a payment from the consumer when the retail price of the commodity at the time of the purchase is below a specified floor price. In some embodiments, the commodity is motor fuel.