Timothy C Parrott

US Patent:

20020116264, Aug 22, 2002

Filed:

Nov 30, 2001

Appl. No.:

10/001285

Inventors:

Robert Feidelson - Bedford NY, US
Eric Peters - New York NY, US
Timothy Parrott - New York NY, US
Joseph Larizza - Hoboken NY, US

Assignee:

Dome Partners, L.L.C.

International Classification:

G06F017/60

US Classification:

705/014000, 705/036000

Abstract:

The present invention is directed to a customer loyalty investment program system and method. In one embodiment, the invention is used in e-commerce. In another embodiment, the invention may be used for on-line and/or off-line commerce using a credit card. The system illustratively includes a web server containing a web site and a database server containing a member information, merchant information, fund information, purchase/rebate information, on-line financial products/services information, and an input/output means. The method may include negotiating rebate percentages with merchants, registering members, receiving rebates from the merchants based on member purchases, investing the rebates in the fund, and issuing shares in the fund to members based on rebates received as a result of their respective purchases. Advantageously, the composition of the fund preferably reflects the rebates received from the merchants. In the credit card embodiment, rebates may be received from both a credit card issuer and merchants agreeing to provide rebates based on member purchases using the credit card.

US Patent:

6345261, Feb 5, 2002

Filed:

Sep 30, 1999

Appl. No.:

09/400417

Inventors:

Robert S. Feidelson - Bedford NY
C. Eric Peters - New York NY
Timothy C. Parrott - New York NY
Joseph P. Larizza - Hoboken NJ

Assignee:

Stockback Holdings, Inc. - New York NY

International Classification:

G06F 1760

US Classification:

705 14, 705 35

Abstract:

The present invention is directed to a customer loyalty investment program system and method where purchase rebates are used to provide the customer with an important fund including merchant securities. The system illustratively includes a web server containing a web site and a database server containing a member information, merchant information, fund information, purchase/rebate information, on-line financial products/services information, and an input/output means. The method may include negotiating rebate percentages with merchants, registering members, receiving rebates from the merchants based on member purchases, investing the rebates in the fund, including securities of at least one merchant, and issuing shares in the fund to members based on rebates received as a result of their respective purchases. Advantageously, the composition of the fund preferably reflects the rebates received from the merchants. In the credit card embodiment, rebates may be received from both a credit card issuer and merchants agreeing to provide rebates based on member purchases using the credit card.