Method and system for using reward points to liquidate products
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United States of America Patent
Stats
-
Jan 18, 2011
Grant Date -
Jan 6, 2011
app pub date -
Jun 29, 2010
filing date -
Jun 23, 1999
priority date (Note) -
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Abstract
A user selects a product to be liquidated from a product provider and then designates to the transacting entity that reward points are to be used towards the purchase of the liquidated product. The transacting entity acts to decrease the number of reward points in the user's reward account by the required number of points. The reward account holder conveys consideration to the transacting entity equivalent to the par value of the reward points consumer obtains the product in exchange for reward points having a retail value equivalent to what he would have otherwise paid for the product, while the reward account holder is required to convey only the par value of the points. The product provider is able to liquidate the product and obtain payment equivalent to what it would otherwise have obtained in a prior art liquidation process, auction or trading environment.
First Claim
Family
- 15 United States
- 10 France
- 8 Japan
- 7 China
- 5 Korea
- 2 Other
Patent Owner(s)
- SIGNATURE SYSTEMS LLC
International Classification(s)
Inventor(s)
Inventor Name | Address | # of filed Patents | Total Citations |
---|---|---|---|
Postrel, Richard | Miami Beach, US | 221 | 6961 |
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Maintenance Fees
Fee | Large entity fee | small entity fee | micro entity fee | due date |
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Fee | Large entity fee | small entity fee | micro entity fee |
---|---|---|---|
Surcharge after expiration - Late payment is unavoidable | $700.00 | $350.00 | $175.00 |
Surcharge after expiration - Late payment is unintentional | $1,640.00 | $820.00 | $410.00 |
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