Method and apparatus for internet connectivity for agriculture buyers,sellers and transporters

• US 20010032165A1
• Filed: 12/21/2000
• Published: 10/18/2001
• Est. Priority Date: 12/21/1999
• Status: Abandoned Application

• Current Assignee: Net Horsepower Incorporated
• Original Assignee: Net Horsepower Incorporated
• Inventors: Allen, Jeffrey L., Greenelsh, John M., Friend, Ralph K., Isham, David J., Friend, Diane B.
• Application Number:
  US09/747,329
• Publication Number:
  US 20010032165A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A first participating entities prepares a transaction offer notice on a data processing system. The transaction offer notice is stored in a database of such notices on a server system which is available to entities participating in the system. Transaction notices contained within the server system'"'"'s database are available to a user community over the Internet and form the basis of a trading platform. Users are able to search the database for transaction offer notices that satisfy a set for search criteria, and are able to electronically negotiate with the offeror with respect to transaction parameters and other terms and conditions until the transaction is acceptable to both parties. The original transaction offer notice is retained in the database and is further available to the user community while negotiations are proceeding. Transaction offer notices are able to be posted by any participating entity, and once a transaction is consummate, transactions details are forwarded to a third-party financial institution for fund transfer.

Claims

1. A method for effecting transactions in an agriculture related marketplace, the method comprising:

establishing a communication network, the network defining a community of buyers and sellers of agriculture related items;

subdividing the agriculture related market place into a plurality of top-level markets, each top-level market defining a particular categorical hierarchy of items comprising the totality of the agriculture related market place;

receiving a first multiplicity of offers to sell, over the communication network, from a plurality of selling entities, each offer to sell including item transaction data organized in accordance with a corresponding one of the plurality of top-level markets;

receiving a second multiplicity of offers to buy, over the communication network, from a plurality of buying entities, each offer to buy including item transaction data organized in accordance with a corresponding one of the plurality of top-level markets;

displaying said first multiplicity of offers to sell and second multiplicity of offers to buy to the community of buyers and sellers over the communication network; and

executing at least one transaction between a buyer and a seller with respect to a particular item, by a buyer'"'"'s making an electronic indication on a respective posted offer to sell for that particular item.

2. The method according to

claim 1

, further comprising the step of executing at least one transaction between a buyer and a seller with respect to a particular item by a seller'"'"'s making an electronic indication on a respective posted offer to buy for that particular item.

3. The method according to

claim 1

, further comprising:

establishing a database, the database structured in accordance with a categorical hierarchical structure, the top-level categories of the database corresponding to the top-level market subdivisions comprising the agriculture related marketplace; and

searching the database for offers to sell or offers to buy within a particular top-level market subdivision.

4. The method according to

claim 3

, further comprising:

organizing each of the top-level market subdivisions into corresponding multiplicities of item categories; and

searching the database for offers to sell or offers to buy within particular ones of the item categories.

5. The method according to

claim 4

, wherein the top-level subdivisions are ones selected from the group consisting of commodities, products, services and transportation, and wherein the item categories correspond to rational groupings of items within each such top-level subdivision.

6. The method according to

claim 5

, further comprising:

associating a participating entity with a corresponding one of a plurality of entity types, wherein each entity type is associated with a corresponding top-level market subdivision; and

presenting item transaction data to a participating entity in the form of a data record, the data record containing item transaction indicia specific to the participating entity'"'"'s type.

7. The method according to

claim 6

, wherein the entity types are ones selected from the group consisting of commodity producers/brokers, product vendors, service providers and transportation contractors.

8. A method for effecting efficient electronic transactions in an agricultural marketplace, comprising:

establishing an agricultural trading platform, including a communication network linking a community of buyers and sellers of agricultural items;

establishing a database, the database structured in accordance with a categorical hierarchical structure, the top-level categories of the database corresponding to top-level market subdivisions comprising the agriculture related marketplace;

receiving a multiplicity of transaction notices from a corresponding multiplicity of participating entities over the communication network, each transaction notice including item transaction indices data organized in accordance with a corresponding one of the plurality of top-level markets;

searching the database for transaction notices in accordance with a selected category of the categorical hierarchical structure;

displaying transaction notices that satisfy the selected search category;

accessing selected ones of the displayed transaction notices, so as to display a detail of the corresponding item transaction indices data; and

responding to an accessed transaction notice so as to complete a transaction.

9. The method according to

claim 8

, the responding step further comprising:

electronically modifying at least one item transaction index by a negotiating entity; and

submitting the modified transaction notice to a participating entity that originated the transaction notice.

10. The method according to

claim 9

, wherein the transaction notice is an item sale offer or an item buy offer.

11. The method according to

claim 10

, the responding step further comprising:

repeating the electronically modifying and submitting steps between an originating entity and the negotiating entity, in alternating fashion until the item transaction indices of the transaction notice are acceptable to both parties;

maintaining a historical record of each modification, by either party, in the database; and

generating an electronic transaction consummation record containing final item transaction indices agreed upon by both parties.

12. The method according to

claim 11

, further comprising the step of forwarding the transaction consummation record to a third-party financial institution, wherein the agreed item transaction indices define the transaction conditions, the satisfaction of which triggers a transfer of funds.

13. The method according to

claim 11

, further comprising:

organizing each of the top-level market subdivisions into corresponding multiplicities of item categories; and

searching the database for transaction notices within particular ones of the item categories.

14. The method according to

claim 13

, wherein the top-level subdivisions are ones selected from the group consisting of commodities, products, services and transportation, and wherein the item categories correspond to rational groupings of items within each such top-level subdivision.

15. The method according to

claim 14

, further comprising:

associating a participating entity with a corresponding one of a plurality of entity types, wherein each entity type is associated with a corresponding top-level market subdivision; and

wherein each participating entity generates transaction notices in the form of a data record, the data record containing item transaction indicia specific to the participating entity'"'"'s type.

16. A method for effecting efficient electronic transactions in an agricultural marketplace, comprising:

establishing an agricultural trading platform, including a communication network linking a community of participating buyers and sellers of agricultural items;

establishing a database, the database structured in accordance with a categorical hierarchical structure, the top-level categories of the database corresponding to top-level market subdivisions comprising the agriculture related marketplace, the database containing a plurality of transaction offer notices for agricultural items organized in accordance with a corresponding one of the plurality of top-level markets;

establishing a set of blank transaction offer notices in the form of a data record defining a transaction'"'"'s parameters, each participating entity providing appropriate transaction parameters in the data record;

receiving completed transaction offer notices and storing said notices in the database;

searching the database for transaction notices in accordance with a query corresponding to at least one transaction parameter;

displaying transaction notices that satisfy the selected search query;

accessing selected ones of the displayed transaction notices, so as to display a detail of the corresponding item transaction indices data; and

responding to an accessed transaction notice so as to complete a transaction.

17. The method according to

claim 16

, wherein the data record of the transaction offer notices is structured to contain transaction parameters specific to each separate one of the top-level market subdivisions.

18. The method according to

claim 17

, further comprising:

associating a participating entity with a corresponding one of a plurality of entity types, wherein each entity type is associated with a corresponding top-level market subdivision; and

presenting a participating entity with blank transaction notices containing transaction parameters corresponding to their entity type.

19. The method according to

claim 18

, wherein the top-level subdivisions are ones selected from the group consisting of commodities, products, services and transportation, and wherein the item categories correspond to rational groupings of items within each such top-level subdivision.

20. The method according to

claim 19

, wherein the entity types are ones selected from the group consisting of commodity producers/brokers, product vendors, service providers and transportation contractors.

21. The method according to

claim 20

, wherein the transaction parameters include an item location indication and the searching step comprises searching for transactions for particular items within a specified geographical radius of a search entity.

22. The method according to

claim 21

, wherein the transaction parameters include a top-level market indication and the searching step comprises searching for transactions for particular items within a specified top level market.

23. The method according to

claim 22

, wherein the transaction parameters include a top-level market indication, an item category indication and an item location indication and wherein the searching step comprises searching for transactions for particular items within a specified top level market, an item category and within a specified geographical radius of a search entity.

24. A system for effecting efficient electronic transactions in an agricultural marketplace, comprising:

an agricultural trading platform, including a communication network linking a community of participating buyers and sellers of agricultural items, the trading platform including a server system coupled to user access devices over the communication network;

a database, the database structured in accordance with a categorical hierarchical structure, the top-level categories of the database corresponding to top-level market subdivisions comprising the agriculture related marketplace, the database containing a plurality of transaction offer notices for agricultural items organized in accordance with a corresponding one of the plurality of top-level markets;

a set of blank transaction offer notices in the form of a data record defining a transaction'"'"'s parameters, each participating entity providing appropriate transaction parameters in the data record;

a plurality of completed transaction offer notices stored in the database;

a search engine, hosted by the server system, the search engine searching the database for transaction notices in accordance with a query corresponding to at least one transaction parameter; and

a negotiation engine, hosted by the server system, the negotiation engine facilitating an electronic transfer of a modified transaction offer notice between an originating party and a negotiating party.

25. The system according to

claim 24

, further comprising:

a posting engine, the posting engine presenting blank transaction offer notices to a participating entity, the posting engine storing completed transaction offer notices in the database for access by the search engine; and

a management engine, coupled to the database, the management engine organizing and displaying a history of transaction notices originated by and transactions completed by a corresponding participating entity.

26. The system according to

claim 25

, wherein the search, negotiation, and posting engines interact with a participating entity over a set of user specific presentation screens, the presentation screens accessible by a user through a browser application.