US 7,328,189 B2
Method and apparatus for conducting electronic commerce transactions using electronic tokensGeneral
US 7,328,189 B2
Method and apparatus for conducting electronic commerce transactions using electronic tokens
Tech Center:
3600 Transportation, Construction, Electronic Commerce, Agriculture, National Security and License and Review
Examiner:
Frantzy Poinvil
Art Unit:
3692 Business Methods — Finance/Banking/ Insurance
Inventors:
Marvin T. Ling
Assignee:
PRAVATI INVESTMENT FUND IV, LP
Priority:
01/26/00
Filed:
01/02/01
Granted:
02/05/08
Expiration:
05/06/23
Abstract
Methods and apparatus for conducting electronic commerce using electronic tokens are described. The electronic tokens are issued and maintained by a vendor, who also provides products and services that can be purchased or rented using the electronic tokens. The electronic tokens may be purchased from the vendor either on-line, using a credit card, or off-line, using a check, money order, purchase order, or other payment means. Because the vendor is the issuer of the electronic tokens, there is no need for transactions to be handled by a third party, such as a bank or other organization. This reduces the overhead involved in conducting electronic commerce, and provides the vendor with a greater amount of control. Additionally, the vendor maintains total control over the price of the electronic tokens at any time. For vendors who offer software products for sale or rental, use of electronic tokens makes a variety of rental arrangements practical. Additionally, a user registers and purchases electronic tokens at the vendor. The user may purchase products at any other vendors who conduct electronic commerce using electronic tokens.
Cooperative Patent Classification (CPC)
G06G06Q30/0601G06QG07F17/16G07F