Patents by Inventor Robert M. Fell

Robert M. Fell 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: 8538795
    Abstract: Disclosed are a method and system for determining a retail price for a commodity within a geographic boundary. Retail prices for the commodity may be obtained from various sources, such as observers, third-party reporting, transactional data, and self-reporting. The retail price for each source may be analyzed to determine a risk factor. The retail prices from all sources associated with a location may be compared to determine a composite retail price for the location. The retail prices for all the locations within the geographic boundary may be analyzed to generate an aggregate composite price for the commodity within the geographic boundary. The analysis may include using a weighted formula. The analysis may include a volume proxy.
    Type: Grant
    Filed: February 12, 2008
    Date of Patent: September 17, 2013
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Patent number: 8160952
    Abstract: Systems and methods described herein pertain to providing price protection programs related to the purchase of a commodity to a consumer. Embodiments of such a program may provide price protection related to the purchase of a commodity to the consumer so that when a consumer purchases the commodity, the price the consumer pays for the commodity may be determined under the provided program. Embodiments of these programs may be quite useful in incentivizing consumers in certain ways, including to seek or obtain employment from a particular employer.
    Type: Grant
    Filed: February 12, 2009
    Date of Patent: April 17, 2012
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Gary A. Magnuson, Hal Connor Elrod, Bradley Michael Weill, Thomas D. Gros
  • Patent number: 8156022
    Abstract: Systems and methods for the provisioning of price protection contracts which provide price protection against adverse fluctuations in the retail price of a commodity to a consumer are disclosed. While these price protection contracts may pertain to almost any type of commodity, certain embodiments of the present invention may provide systems and method for allowing a consumer to obtain price protection on the purchase of fuel. Specifically, embodiments of the present invention may provide the ability for fleet managers to obtain a price protection contract for the purchase of fuel where the price protection contract specifies at least one lock price, quantity, locale and time period such that the price protection contract may guarantee the right to aggregately purchase the quantity of fuel in the locale at the lock price during the time period.
    Type: Grant
    Filed: February 12, 2007
    Date of Patent: April 10, 2012
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Patent number: 8086517
    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.
    Type: Grant
    Filed: March 31, 2011
    Date of Patent: December 27, 2011
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Publication number: 20110302001
    Abstract: Embodiments disclosed herein provide a new way to generate estimated forward retail prices for a retail commodity within a geographic boundary that represents a target market. Using estimates for local retail prices, combined with knowledge of current and historical wholesale prices, embodiments disclosed herein enable the creation of a forward estimate of retail prices on fuels for a specific location, time period, and fuel grade. In some embodiment, the process of creating a forward estimate of retail prices on fuels comprises performing a predictive modeling utilizing wholesale gasoline prices, rack markup, retail markup, and taxes on a location, time period, and fuel grade basis. In some cases, the estimated forward retail prices thus generated can be used in a pricing model for price protection services for that retail commodity in that target market.
    Type: Application
    Filed: August 16, 2011
    Publication date: December 8, 2011
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
  • Patent number: 8065218
    Abstract: Systems and methods for providing an insurance premium in association with an insurance strike price for a commodity are disclosed. By paying the insurance premium a consumer may obtain price protection for a commodity purchase. In particular, in one embodiment a consumer may obtain the right to be reimbursed for any amount paid over the insurance strike price for the commodity.
    Type: Grant
    Filed: March 31, 2011
    Date of Patent: November 22, 2011
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
  • Patent number: 8019694
    Abstract: Embodiments disclosed herein provide a new way to generate estimated forward retail prices for a retail commodity within a geographic boundary that represents a target market. Using estimates for local retail prices, combined with knowledge of current and historical wholesale prices, embodiments disclosed herein enable the creation of a forward estimate of retail prices on fuels for a specific location, time period, and fuel grade. In some embodiment, the process of creating a forward estimate of retail prices on fuels comprises performing a predictive modeling utilizing wholesale gasoline prices, rack markup, retail markup, and taxes on a location, time period, and fuel grade basis. In some cases, the estimated forward retail prices thus generated can be used in a pricing model for price protection services for that retail commodity in that target market.
    Type: Grant
    Filed: February 12, 2008
    Date of Patent: September 13, 2011
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
  • Publication number: 20110178916
    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.
    Type: Application
    Filed: March 31, 2011
    Publication date: July 21, 2011
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Publication number: 20110178826
    Abstract: Systems and methods for providing an insurance premium in association with an insurance strike price for a commodity are disclosed. By paying the insurance premium a consumer may obtain price protection for a commodity purchase. In particular, in one embodiment a consumer may obtain the right to be reimbursed for any amount paid over the insurance strike price for the commodity.
    Type: Application
    Filed: March 31, 2011
    Publication date: July 21, 2011
    Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
  • Patent number: 7945500
    Abstract: Systems and methods for providing an insurance premium in association with an insurance strike price for a commodity are disclosed. By paying the insurance premium a consumer may obtain price protection for a commodity purchase. In particular, in one embodiment a consumer may obtain the right to be reimbursed for any amount paid over the insurance strike price for the commodity.
    Type: Grant
    Filed: April 8, 2008
    Date of Patent: May 17, 2011
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
  • Patent number: 7945501
    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.
    Type: Grant
    Filed: April 8, 2008
    Date of Patent: May 17, 2011
    Assignee: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Publication number: 20080313013
    Abstract: Embodiments disclosed herein provide a new way to generate estimated forward retail prices for a retail commodity within a geographic boundary that represents a target market; Using estimates for local retail prices, combined with knowledge of current and historical wholesale prices, embodiments disclosed herein enable the creation of a forward estimate of retail prices on fuels for a specific location, time period, and fuel grade. In some embodiment, the process of creating a forward estimate of retail prices on fuels comprises performing a predictive modeling utilizing wholesale gasoline prices, rack markup, retail markup, and taxes on a location, time period, and fuel grade basis. In some cases, the estimated forward retail prices thus generated can be used in a pricing model for price protection services for that retail commodity in that target market.
    Type: Application
    Filed: February 12, 2008
    Publication date: December 18, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
  • Publication number: 20080313014
    Abstract: Disclosed are a method and system for determining a retail price for a commodity within a geographic boundary. Retail prices for the commodity may be obtained from various sources, such as observers, third-party reporting, transactional data, and self-reporting. The retail price for each source may be analyzed to determine a risk factor. The retail prices from all sources associated with a location may be compared to determine a composite retail price for the location. The retail prices for all the locations within the geographic boundary may be analyzed to generate an aggregate composite price for the commodity within the geographic boundary. The analysis may include using a weighted formula. The analysis may include a volume proxy.
    Type: Application
    Filed: February 12, 2008
    Publication date: December 18, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
  • Publication number: 20080313067
    Abstract: Methods for managing hedging scenarios associated with a retail commodity. The method includes enabling the creation of a risk profile associated with a user and the commodity. Based on the risk profile, the method includes selecting hedging scenario(s) associated with purchasing a quantity of the commodity. The method also includes determining a user cost associated with purchasing the hedging scenarios using a time-based price of the commodity and outputting the costs. In some embodiments the time-based price is historic. The method can include enabling the user to purchase a hedging scenarios. Some embodiments include accepting a commodity consumption pattern, adjustments to the pattern, what-if cases, costs to the provider of the hedging scenarios. The costs (and savings) to the user can be determined based on the accepted consumption patterns (and adjustments) what-if cases, and provider costs. Systems and programs for managing such hedging scenarios also provided.
    Type: Application
    Filed: February 12, 2008
    Publication date: December 18, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Publication number: 20080313070
    Abstract: Embodiments disclosed herein provide a unique methodology as well as the overall architecture necessary to implement the methodology that can enable an entity to create and provide a consumer price protection product under the Forward Contract Exception of the Commodity Exchange Act. Even consumers who do not meet commodity-related regulation requirements such as the Eligible Contract Participant regulatory requirements may purchase such a consumer price protection product or a variation thereof to reduce or cancel out the risk or at least reduce the unpredictability in purchasing commodities such as motor fuels.
    Type: Application
    Filed: February 12, 2008
    Publication date: December 18, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
  • Publication number: 20080306858
    Abstract: In some embodiments, a method includes providing a loan or line of credit (LOC) to a purchaser to financing the cost of purchasing a retail commodity price protection contract. A new financial instrument is created bundling the loan or LOC and the retail commodity price protection contract. The method also includes allowing the purchaser to draw on a trust (that may have been created with proceeds from the loan) to purchase the retail commodity. The retail commodity price protection contract may specify a forward position, which may be selected by the customer, associated with the retail commodity. According to the forward position specified in the retail commodity price protection contract, a price protection service provider provides price protection to the customer against variability in the price of the retail commodity. The loan or LOC may be provided by a financial institution or the price protection service provider.
    Type: Application
    Filed: February 12, 2008
    Publication date: December 11, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Publication number: 20080306777
    Abstract: Systems and methods for providing an insurance premium in association with an insurance strike price for a commodity are disclosed. By paying the insurance premium a consumer may obtain price protection for a commodity purchase. In particular, in one embodiment a consumer may obtain the right to be reimbursed for any amount paid over the insurance strike price for the commodity.
    Type: Application
    Filed: April 8, 2008
    Publication date: December 11, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
  • Publication number: 20080306833
    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.
    Type: Application
    Filed: April 8, 2008
    Publication date: December 11, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Publication number: 20080306861
    Abstract: Systems and methods for the provisioning of price protection contracts which provide price protection against adverse fluctuations in the retail price of a commodity are disclosed. While these price protection contracts may pertain to almost any type of commodity, certain embodiments of the present invention may provide systems and method for allowing a consumer to obtain price protection on the purchase of fuel. Specifically, embodiments of the present invention may provide the ability to obtain a price protection contract for the purchase of fuel where the price protection contract specifies at least one lock price, quantity, locale and time period such that the price protection contract may guarantee the right to aggregately purchase the quantity of fuel in the locale at the lock price during the time period and where purchases under the price protection contract are settled against an index price at the time of the purchase.
    Type: Application
    Filed: April 8, 2008
    Publication date: December 11, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
  • Publication number: 20080306776
    Abstract: A provider of price protection products may enter into an agreement with a set of terms and associated financial risk with a financial institution such that the financial institution provides indemnification against the financial risk associated with selling a commodity. The provider may analyze data, the terms of the agreement and perform scenario analyses to determine its financial risk and may lay off or take on more risk. The provider may offer price protection products to consumers via computing devices and retail locations. The products may have the same terms as the agreement between the provider and the financial institution, or may have different terms and conditions to either take on or lay off risk.
    Type: Application
    Filed: April 8, 2008
    Publication date: December 11, 2008
    Applicant: Pricelock, Inc.
    Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson