Conditional purchase offer buyer agency system
US6356878B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 22, 1997 |
| Grant date | Mar 12, 2002 |
| Priority date | — |
| Expiry date | Dec 22, 2017 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07G1/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A conditional purchase offer (CPO) buyer agency system is disclosed for processing variable conditional purchase offers (CPOs) containing at least one variable condition. If a posted CPO is not accepted by at least one seller for a predefined period of time, or has been rejected by all potential sellers, the terms of the posted CPO may be modified by the CPO buyer agency system, within the tolerances specified by the buyer in the variable CPO, to facilitate acceptance. A buyer can submit a variable CPO having two sets of conditions, namely, a first set and a second set of conditions, as well as the corresponding buyer-defined offer price for each condition set. In addition, the buyer preferably provides a set of rules to control the gradual posting of the condition sets between the first and second condition sets, as well as the appropriate adjustments to the corresponding offer price. A buyer can also submit a variable CPO having several predefined CPO sets, each with defined condition sets and corresponding offer prices, as well as a priority for their posting. If the highest priority CPO is not accepted, the next CPO in the prioritized list can be posted until a CPO is bound, al…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.