AN ELECTRONIC UNIT EXCHANGE MADE AVAILABLE VIA A WIDE AREA NETWORK ARRANGEMENT WHICH ENABLES CONSUMER(S) TO BUY AND/OR SELL UNITS WHICH ARE EXCHANGEABLE AND/OR NEGOTIABLE FOR A SPECIFIED QUANITY OF GASOLINE FROM A PRESCRIBED GASOLINE RETAILER(S)

摘要

The present invention is a method and system of commerce enablingconsumers and/or investors and/or exchange participants (the "Consumer(s)"and/or"Unit Holder(s)") to buy and/or sell units (the "Units"), which Units areexchangeableand/or negotiable by a Unit Holder for a pre-determined physical quantity ofgasoline(the "Gasoline") from a prescribed gasoline retailer(s) (the "GasolineRetailer(s)").And wherein the present invention comprises a system and/or procedure ofbuyingand/or selling the said Units which procedure and/or process may/will beexecuted viaan electronic Unit exchange made available via a wide area networkarrangement.And further wherein the present invention comprises a method and systemwherein asystem controller (the "Exchange") shall oversee and manage a process and/orprocedure for issuing Units, which said process and/or procedure of issuingUnitsmay/shall comprise a plurality of methods and/or procedures including aprocessand/or procedure whereby a Gasoline Retailer(s) (on terms acceptable to and/oragreed to by the said Gasoline Retailer(s) and the Exchange) shall provide aguaranteeand/or acceptable form(s) of security thereby assuring or attempting to assurethat allUnits issued by the Exchange on behalf of the said Gasoline Retailer(s)shall/will beexchangeable and/or negotiable for a specified quantity of gasoline for apredetermined period of time, from a predetermined number of GasolineRetailer(s)locations(s). Following the establishment of an agreement between a GasolineRetailer(s) and the Exchange, the Exchange then initiates a process by whichthey willoffer and/or make available for purchase a determined number of Units via theExchange's exchange/database/website (the "Listing Process"). Following theListingProcess of the said Units a plurality of Consumer(s) are then capable ofpurchasingthe said Unit(s) via a secured transaction from the Exchange's electronicexchange/database/website made available via a wide area network arrangement.Following the completion of the purchase of Units by a Consumer(s), all fundsderived from the said purchase (following the deduction of any fees and/orcommissions owed to the Exchange) are paid to the Gasoline Retailer(s) issuingthesaid Unit(s). A second method and/or procedure of issuing Units (the "TrustOffering") may/shall comprise a process and/or procedure wherein the Exchangemay/will initiate the sale of Units prior to the involvement of a GasolineRetailer(s) inthe process and/or procedure of issuing Units. A Trust Offering may/shallcomprise aprocess and/or procedure wherein Unit(s) (on terms approved and/or accepted bytheExchange) shall be made available for purchase by Consumer(s) at a pricedeterminedby the Exchange through a secured transaction completed via the Exchange'selectronic exchange/database/website. When the Exchange has determined that asufficient number of Units of a Trust Offering have been purchased byConsumer(s),Gasoline Retailer(s) are then invited to view information and the conditionsofacceptance for the said Trust Offering. The said information and conditions ofacceptance shall include information outlining the number of Units sold, andtheamount and/or value of funds the said Gasoline Retailer(s) will receive ifthey acceptand/or assume responsibility for the said Trust Offering. A Gasoline Retailerthatchooses to accept and/or assume responsibility for a Trust Offering may bindtheExchange through a secured transaction through the exchangesexchange/database/website and made available via a wide area networkarrangement.Following the said acceptance and/or assumption process by a GasolineRetailer(s) ofa Trust Offering, the Gasoline Retailer(s) will then receive from the Exchangeanyand/or all of the funds received by the Exchange from the sale of Unitscomprising thesaid Trust Offering (following the deduction of any fees and/or commissionsowed tothe Exchange). Under either method and/or procedure herein described forissuingand/or selling and/or purchasing Unit(s), a Unit Holder may until the expiryof thesaid Unit(s) either sell a Unit(s) or utilize the said Unit(s) in a manner (asoutlined bythe terms of the said Unit) which shall include a process wherein a UnitHolder mayattend at Gasoline Retailer location and exchange and/or negotiate a Unit forapredetermined amount and/or quantity of Gasoline. And wherein the said processofexchanging and/or negotiating a Unit(s) may/shall include a process and/orprocedurewhereby a Unit Holder may receive and/or be issued written and/or electronicand/orother evidence capable of satisfactorily demonstrating to a Gasoline Retailerlocationthat the said Unit Holder is entitled to take possession of an amount ofgasolineequivalent and/or equal to the quantity value of the Unit(s) being offered forexchangeand/or negotiation by the said Unit Holder. And wherein a Gasoline Retailer(s)andthe Exchange will maintain a system capable of keeping track of informationaboutthe excahneg and/or negotiation of Units by Unit Holders to GasolineRetailer(s). Andwherein the said process of selling a Unit(s) may/shall involve a processand/orprocedure wherein a Unit Holder may/shall determine a monetary value and/orpriceat which they are willing to sell a determined number of Units which they ownand/orcontrol, the Unit Holder(s) may then list for a determined period of time thesaiddetermined number of Unit(s) along with the price at which the Unit Holder iswillingto sell the said determined number of Units (the "Offer for Sale of Units").The saidOffer for Sale of Units is then listed on the Exchangeexchange/database/website, andinterested potential purchaser(s) are then invited to review Offer For Sale ofUnit(s)listed on the Exchange exchange/database/website. A purchaser is able topurchaseUnit(s) via an acceptable network arrangement by accepting an Offer For SaleofUnit(s) listed on the Exchange exchange/database/website. A purchaser mayfurtherchoose to attempt to purchase Units at price different then the lowest priceoffered inany Offer For Sale of Unit(s) listed on the Exchangeexchange/database/website,wherein the purchaser may create a bid to by Unit(s) (the "Offer for PurchaseofUnits") which will comprise a determined number of Unit(s), the price at whichthePurchaser is willing to pay to acquire Unit(s), and for how long a period oftime theOffer for Purchase of Units will be available is listed on the Exchangeexchange/database/website. Unit Holder(s) interested in selling Unit(s) areinvited toreview all Offer For Purchase of Unit(s) listed on the Exchangeexchange/database/website. A seller is then able to sell Unit(s) by acceptinglistedOffer For Purchase of Units, which acceptance will be communicated via anacceptable network arrangement. Both potential purchaser(s) and potentialseller(s)may at any time access and utilize the Exchange exchange/database/website forthepurpose of determining the current Offer For Purchase of Unit(s) and/or Offerfor Saleof Units that are currently listed on the Exchange exchange/database/website.UnitHolders may further change and/or alter and/or remove both an Offer ForPurchase ofUnit(s) and/or an Offer for Sale of Units, if an Offer For Purchase of Unit(s)and/or anOffer for Sale of Units) has not previously been accepted by a seller and/orpurchaserprior to the said revocation. Once a purchaser chooses to purchase Unitsoffered forsale on the exchange and completes the necessary transaction process and/orprocedure required by the rules of the Exchange, and a seller chooses to sellUnit(s)for sale on the Exchange and does complete the necessary transaction processand/orprocedure required by the rules of the Exchange, in both said instances, thesellerand/or buyer shall be bound by the transaction and the Exchange shall settlethetransaction accordingly. The primary source(s) of income for the Exchangeshall/maycome from a variety of sources including: fee(s) from Gasoline Retailer(s),and fee(s)from Consumer(s) and Units Holder(s) that utilize the system to buy and/orsellUnit(s). The Exchange may/shall maintain an electronic database which databaseiscomprised of accounts (which accounts may be comprised of a plurality ofinformation) for Consumer(s), Unit Holders and Gasoline Retailer(s). TheExchangemay further maintain an insurance program funded by fees on various Exchangeservices, which said insurance program would provide an insurance fund to beunitized to limit the risk against the failure of Gasoline Retailer(s) thatare not capableor are unwilling to meet the requirements and/or obligations of Unit(s) issuedto UnitHolder(s) by the Exchange on behalf of the said Gasoline Retailer(s). Thepresentinvention, with some modifications, may also be utilized to enable Consumer(s)toparticipate in the purchase and/or sale of other items and/or particularsincluding;electricity, natural gas, home heating oil, etc. The system may further beutilized toenable Consumer(s) to purchase and/or sell gasoline which gasoline may then besoldby a Gasoline Retailer(s) from a Gasoline Retailer(s) location.