Method and apparatus for a cryptographically assisted commercial network system designed to facilitate buyer-driven conditional purchase offers
US5794207A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Sep 4, 1996 |
| Grant date | Aug 11, 1998 |
| Priority date | — |
| Expiry date | Sep 4, 2016 |
Classification
- Technology area (CPC Y)Emerging Cross-Sectional Technologies
- CPC primaryY10S707/99945
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention is a method and apparatus for effectuating bilateral buyer-driven commerce. The present invention allows prospective buyers of goods and services to communicate a binding purchase offer globally to potential sellers, for sellers conveniently to search for relevant buyer purchase offers, and for sellers potentially to bind a buyer to a contract based on the buyer's purchase offer. In a preferred embodiment, the apparatus of the present invention includes a controller which receives binding purchase offers from prospective buyers. The controller makes purchase offers available globally to potential sellers. Potential sellers then have the option to accept a purchase offer and thus bind the corresponding buyer to a contract. The method and apparatus of the present invention have applications on the Internet as well as conventional communications systems such as voice telephony.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.