Retail system for selling products based on a flexible product description

US8150735B2 · kind B2 · utility

Assignee

• Groupon, Inc. · US

Inventors

• Jay S. Walker · Ridgefield, US
• Peter Kim · Pasadena, US
• James A. Jorasch · Stamford, US
• Magdalena Mik · Greenwich, US
• Daniel E. Tedesco · Huntington, US
• Russell P. Sammon · San Francisco, US
• Andrew P. Golden · New York, US
• Raymod J. Mueller · Weston, US
• Keith Bemer · New York, US
• Kathleen Van Luchene · Norwalk, US

Key dates

• Filing date: May 10, 2007
• Grant date: Apr 3, 2012
• Expiry date: May 10, 2027

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

According to one described embodiment, a method is provided in which transaction information is determined. The transaction information is associated with (i) a buyer who has arranged to purchase a product from a central controller at a first price established between the buyer and the central controller and (ii) a merchant that offers the product for sale at a second price, different from the first price, without offering the product for sale to buyers at the first price. Information is transmitted that facilitates the acquisition of the product by the buyer, in exchange for payment provided by the buyer to the central controller. An amount based on the second price is provided to the merchant.