Method and apparatus for negotiating a contract over a computer network
US7146343B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Jan 11, 2002 |
| Grant date | Dec 5, 2006 |
| Priority date | — |
| Expiry date | Mar 11, 2024 |
Classification
- Technology area (CPC Y)Emerging Cross-Sectional Technologies
- CPC primaryY10S707/99953
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The invention provides a system and method that facilitates a structured contract negotiation between two parties, such as parties to a real estate transaction. A series of predefined milestone negotiation steps are executed on a computer that couples two parties through a network, such as the Internet. The negotiators answer predefined questions regarding a proposed transaction in such a manner that certain aspects of the transaction can be agreed upon early during the negotiation process while others are deferred to later phases. In each phase, each party selects from a predefined list of actions associated with a particular aspect of the negotiation (e.g., sale price). Third-party service providers such as brokers and architects can be automatically pulled into the negotiations using computer-issued requests for services. Feedback from the parties in the form of problems encountered and solutions achieved during the negotiation process are collected and stored in a database for review and use by other future negotiation parties. Improvements to the disclosed invention include (1) rules-based agreement on negotiator-supplied terms; (2) delegation to transaction team members or se…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.