Method, apparatus and article-of-manufacture for the creation, issuance, valuation/pricing, trading and exercise of options for attendance rights, and derivative instruments thereon
View Patent ↗Computer-related methods, apparatus, and/or articles of manufacture to permit/facilitate the creation, marketing, and/or distribution of options to purchase tickets to a particular future event, particularly an elimination format competition, when the chosen competitor's qualification for such a game is currently uncertain, but where the uncertainty will be resolved prior to the commencement of the particular future event.
1. A method for distributing rights to attend a future event,
said method implemented on a computer system, the method comprising the steps of:
storing on a first computer, information on one or more future events, said future events are events at which spectators pay to view activities and that have restricted attendance for a fee, said stored information includes details regarding said future event and comprises details regarding an offer to sell contingent rights, said contingent rights provide a right to purchase access at a specified price to said future event upon the occurrence of a future outcome that is uncertain at the time of said offer;
providing a communication link to said first computer to allow potential contingent rights purchasers to access said information associated with said contingent rights offer; and
selling, either as a principal or on behalf of a third party, said contingent rights to one or more third parties that accept said offer.
2. A method as in claim 1 , further comprising distributing said right to purchase access to said future event upon the occurrence of said future outcome.
3. A method as in claim 1 , wherein said future outcome comprises qualification of one or more participants for said future event.
4. A computer based method for distributing transferable rights to purchase tickets, the method comprising the steps of:
storing, in a computer linked to a computer network, information identifying a transferable right to purchase one or more tickets to a sporting event, wherein said right to purchase becomes executable only if one or more specified potential participants qualify for said sporting event;
transmitting, over said computer network to a plurality of computers, an offer to sell said transferable right to purchase; and
receiving, over said computer network, an acceptance of said offer; whereby said transferable right to purchase is sold pursuant to said acceptance of said offer.
5. A method as in claim 4 , wherein said transferable right to purchase comprises a contract.
6. A method as in claim 4 , wherein said offer to sell is for a price below a face value of each ticket that a purchaser of said transferable right to purchase has a right to purchase under said right.