Patents by Inventor Rick Olcott

Rick Olcott has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Patent number: 5233514
    Abstract: A system and method for acquiring an equity position in a company through the purchase of qualifying products or services offered by the company, by accumulating credits toward the purchase of stock in the company based on the quantity of goods or services purchased. The invention is adapted for implementation, in part, on a digital computer. Consumers who purchase qualifying goods or services redeem UPC labels showing proof of purchase, and are given a designated credit toward the purchase of stock in the manufacturer or supplier for each label redeemed. When a participating consumer has accumulated enough credits for a particular manufacturer or supplier to purchase one or more shares of its stock, a buy order is issued for the appropriate number of shares, and the consumer's credits are reduced accordingly.
    Type: Grant
    Filed: January 9, 1990
    Date of Patent: August 3, 1993
    Inventors: Luay Ayyoubi, Rick Olcott