Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Patent
1998-07-14
2000-05-23
MacDonald, Allen R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
705 1, 705 5, G06F 1760
Patent
active
060675322
ABSTRACT:
The present invention includes a reliable and efficient method for redistributing, purchasing or selling tickets on the secondary market. The system generally includes a method for accepting tickets from individual sellers, posting the tickets on a central database for redistribution, establishing a market price based on demand and/or a service fee (this feature may not be available in certain states due to resale restrictions or at certain arenas due to prior agreements) and redistributing the tickets to new buyers. The system allows sellers to reach a wider market and also gives more individuals an opportunity to conveniently purchase tickets to events at a reasonable price. Individual buyers are not forced to deal directly with brokers, scalpers or other types of sellers, and thus, are substantially protected from fraud. To protect the buyer, the present invention verifies all tickets posted on the database and, to protect the seller, verifies the buyer's credit card and guarantees payment to the seller.
REFERENCES:
patent: 4674044 (1987-06-01), Kalmus et al.
patent: 4799156 (1989-01-01), Shavit et al.
patent: 5283731 (1994-02-01), Lalonde et al.
patent: 5408417 (1995-04-01), Wilder
patent: 5557517 (1996-09-01), Daughterty, III
patent: 5592375 (1997-01-01), Salmon et al.
patent: 5621797 (1997-04-01), Rosen
patent: 5644721 (1997-07-01), Chung et al.
patent: 5664115 (1997-09-01), Fraser
patent: 5689652 (1997-11-01), Lupien et al.
patent: 5794207 (1998-08-01), Walker et al.
patent: 5797127 (1998-08-01), Walker et al.
patent: 5930761 (1999-07-01), O'Toole
Bittle, Scott: "UniTravel Selling consolidator tickets on line", Travel Weekly, v55, n23, p74(1), Mar. 21, 1996.
Pina, Michael, "Consolidator: trade should not be leery of us." Travel Weekly, v54, n10, p31(1), Feb. 6, 1995.
Elliott, Elaine X., "Low Fares Online Travel Agents launch Internet sites to market their air consolidation services", Travel Agent, Mar. 31, 1997 p.22.
American Express Travel Related Services Company Inc.
MacDonald Allen R.
Patel Jagdish
LandOfFree
Ticket redistribution system does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Ticket redistribution system, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Ticket redistribution system will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-1843893