The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
May. 17, 2011
Filed:
Apr. 08, 2008
Robert M. Fell, Summerland, CA (US);
Scott Painter, Bel Air, CA (US);
Michael R. Bonsignore, Seattle, WA (US);
Brian P. Reed, Southlake, TX (US);
Gary A. Magnuson, Corpus Christi, TX (US);
Robert M. Fell, Summerland, CA (US);
Scott Painter, Bel Air, CA (US);
Michael R. Bonsignore, Seattle, WA (US);
Brian P. Reed, Southlake, TX (US);
Gary A. Magnuson, Corpus Christi, TX (US);
Pricelock, Inc., Irving, TX (US);
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.