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).
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Patent number: 8538795Abstract: 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: GrantFiled: February 12, 2008Date of Patent: September 17, 2013Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Patent number: 8160952Abstract: 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: GrantFiled: February 12, 2009Date of Patent: April 17, 2012Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Gary A. Magnuson, Hal Connor Elrod, Bradley Michael Weill, Thomas D. Gros
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Patent number: 8156022Abstract: 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: GrantFiled: February 12, 2007Date of Patent: April 10, 2012Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Patent number: 8086517Abstract: 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: GrantFiled: March 31, 2011Date of Patent: December 27, 2011Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Publication number: 20110302001Abstract: 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: ApplicationFiled: August 16, 2011Publication date: December 8, 2011Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
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Patent number: 8065218Abstract: 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: GrantFiled: March 31, 2011Date of Patent: November 22, 2011Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
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Patent number: 8019694Abstract: 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: GrantFiled: February 12, 2008Date of Patent: September 13, 2011Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
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Publication number: 20110178826Abstract: 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: ApplicationFiled: March 31, 2011Publication date: July 21, 2011Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
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Publication number: 20110178916Abstract: 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: ApplicationFiled: March 31, 2011Publication date: July 21, 2011Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Patent number: 7945500Abstract: 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: GrantFiled: April 8, 2008Date of Patent: May 17, 2011Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
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Patent number: 7945501Abstract: 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: GrantFiled: April 8, 2008Date of Patent: May 17, 2011Assignee: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Publication number: 20080313013Abstract: 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: ApplicationFiled: February 12, 2008Publication date: December 18, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
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Publication number: 20080313067Abstract: 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: ApplicationFiled: February 12, 2008Publication date: December 18, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Publication number: 20080313014Abstract: 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: ApplicationFiled: February 12, 2008Publication date: December 18, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
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Publication number: 20080313070Abstract: 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: ApplicationFiled: February 12, 2008Publication date: December 18, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
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Publication number: 20080306789Abstract: Embodiments disclosed herein provide viable revenue models for a service provider that offers price protection on a retail commodity to businesses as well as individual consumers in a retail commodity network. Specifically, embodiments disclosed offer a plurality of revenue flows in which the cost incurred by a service provider to offer hedge positions associated with a retail commodity can be offset in a variety of ways to cover the operating expenses and generate realistic profits. In some embodiments, a revenue model for a service provider in a retail commodity network may be built depending upon whether hedging cost information is generated internally or obtained externally. Such cost may be passed on to a customer entirely, none at all, or somewhere in between. Embodiments disclosed herein further provide a plurality of revenue sources and ways to generate revenues therefrom.Type: ApplicationFiled: February 12, 2008Publication date: December 11, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson, Thomas D. Gros
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Publication number: 20080306861Abstract: 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: ApplicationFiled: April 8, 2008Publication date: December 11, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Publication number: 20080306833Abstract: 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: ApplicationFiled: April 8, 2008Publication date: December 11, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson
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Publication number: 20080306777Abstract: 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: ApplicationFiled: April 8, 2008Publication date: December 11, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Brian P. Reed, Michael R. Bonsignore, Gary A. Magnuson
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Publication number: 20080306776Abstract: 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: ApplicationFiled: April 8, 2008Publication date: December 11, 2008Applicant: Pricelock, Inc.Inventors: Robert M. Fell, Scott Painter, Michael R. Bonsignore, Brian P. Reed, Gary A. Magnuson