Patent ID: 8301550
Filing Date: 2012-10-30
Classification: G06Q

Abstract:
1. A method for providing automatic execution of electronic options, comprising: providing a plurality of electronic options for airline tickets to a plurality of client network devices each with one or more processors from a first server network device with one or more processors via a computer network, wherein the plurality of electronic options include specialized airline option terms that each allow the reservation of a plurality of airline fares on a plurality of airline routes to a plurality destinations and a plurality of fare classes for a pre-determined period, wherein the plurality of electronic options are not supplied or governed via a central government agency and are not supplied or governed via security laws and wherein the plurality of electronic options are available for purchase via a plurality of different pre-determined option fees; receiving securely on the first server network device a single pre-determined option fee from a first client network device to purchase a single electronic option with the specialized airline option terms for a desired airline ticket via the computer network; recording on the first server network device the purchase of the purchased single electronic option for in a database associated with the server network device; accepting on the first server network device the specialized airline option terms of the recorded purchased single electronic option to accept a plurality of desired airline fares on a plurality of desired airline routes to a plurality of desired destinations and a plurality of desired fare classes until final travel plans are determined associated with the purchased single electronic option; receiving on the first server network device one or more selection messages for selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option from the first client network device via the computer network; reserving from the first server network device via the computer network a plurality of actual different airline seats for the received selection of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes associated with the purchased single electronic option, wherein the purchased single electronic option allows the plurality of different actual airline seats to be temporarily reserved without purchasing any actual airline tickets for the plurality of different actual airline seats until the final travel plans are determined; receiving on the first server network device a final selection message to exercise the purchased single electronic option including selection of one or more final desired airline fares on one or more final desired airline routes to one or more final desired destinations for one or more final desired fare classes from the first client network device via the computer network; exercising from the first server network device via the computer network the purchased single electronic option at a final option exercise price to purchase one or more final actual airline seats for the one or more final desired airline tickets for the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes, wherein the one or more final desired airline fares are determined by the exercised final option exercise price and a set of other pre-determined factors; booking from the first server network device via the computer network for the purchased single electronic option exercised at the final option exercise price the one or more final actual airline seats for the purchased final desired one or more airline tickets for the one or more final desired airline fares on the final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes and canceling automatically on the first server network device via the computer network all other reserved actual airline seats for the selections of the plurality of desired airline fares on the plurality of desired airline routes to the plurality of desired destinations and the plurality of desired fare classes not including the one or more final airline seats for the one or more final airline tickets with the one or more final desired airline fares on the one or more final desired airline routes to the one or more final desired destinations for the one or more final desired fare classes.