System and method for aggregating multiple buyers utilizing conditional purchase offers (CPOS)
US6418415B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 3, 1997 |
| Grant date | Jul 9, 2002 |
| Priority date | — |
| Expiry date | Oct 3, 2017 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F9/026
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An aggregate conditional purchase offer (CPO) management system for receiving and processing CPOs from buyers for one or more goods or services is disclosed. Received CPOs are processed to determine whether the CPO should be provided to sellers individually and/or collectively as part of an aggregate CPO. If a CPO is accepted individually, or collectively as part of an aggregate CPO, the buyer is bound on behalf of the accepting seller. CPOs are administered on behalf of groups of buyers to form aggregate CPOs which are offered to sellers. Groups are preferably formed dynamically in accordance with predefined aggregation rules. The unit price associated with an aggregate CPO may be an average of the individual CPO prices for each CPO included in the aggregate CPO. Alternatively, the aggregate CPO price may be the total of the individual CPO prices for each CPO included in the aggregate CPO. The aggregation rules can optionally require that the terms of an individual CPO, including price, be within predefined tolerances of the terms of an aggregate CPO or one or more pending individual CPOs, in order for the individual CPO to be included in the aggregate CPO. Buyers may optionally r…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.