System and method for conducting electronic commerce in the metals industry

• US 20010049634A1
• Filed: 03/05/2001
• Published: 12/06/2001
• Est. Priority Date: 03/06/2000
• Status: Abandoned Application

• Current Assignee: MetalSite LP (Actua Corp.)
• Original Assignee: MetalSite LP (Actua Corp.)
• Inventors: Stewart, Patrick
• Application Number:
  US09/799,375
• Publication Number:
  US 20010049634A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

An on-line interactive network community for the integrated purchase and sale of metals, particularly steel, is disclosed. The community provides an on-line supply chain of steel from raw products producers through the eventual end user customer for steel products. Buyer members and seller members after they have been qualified to participate and are assigned their unique member identifications, and sale of products, such as steel coils, by means of the electronic system. A complete legally binding contract is created between the buyer and seller, including all the terms and conditions necessary to transfer the product from buyer to seller. Buyer members are given the option to purchase steel products from an on-line product catalog by either an auction mechanism or a fixed-price product guide. By entering certain information, such as the form, grade, gauge or width of a steel coil, for example, the buyer member is given a listing of qualifying products, identified by seller member, from which the buyer can choose. Once selected, the buyer member'"'"'s financial account can be automatically checked to determine if funds are available to make the purchase, assuring the seller member of prompt payment. Additionally, a carrier may be contracted to transport the purchased product from the seller location to the buyer location.

Claims

1. A networked community market system providing real-time transactions between a plurality of identified community members over a communications network, said community market system comprising:

a controller for communicating with each of said plurality of identified community members over the communications network;

means for identifying each of said community members according to a predetermined profile selection criteria, said community members including seller members and buyer members;

at least one seller computer operatively connected with said controller, said seller computer being programmed to provide seller business information from at least one of said seller members and accessible by at least one of said buyer members;

at least one buyer computer operatively connected with said controller, said buyer computer being programmed to access seller business information from at least one of said seller members according to predetermined buyer profile information;

means for displaying selected seller business information to said buyer members according to said predetermined buyer profile information; and

acceptance means operatively connected with said at least one seller computer for accepting an order from one of said buyer members to purchase a product from one of said seller members.

2. The networked community market system as set forth in

claim 1

, wherein the seller business information comprises at least one of seller product information, seller location information and seller financial information.

3. The networked community market system as set forth in

claim 2

, wherein said means for displaying selected seller business information comprises means for displaying the seller product information, including one or more of product quality, product grade, product dimensions, product price and product delivery information.

4. The networked community market system as set forth in

claim 2

, wherein said seller product information comprises a seller product catalog.

5. The networked community market system as set forth in

claim 1

, wherein the metals industry is a steel industry and the networked community market system provides real-time transfer of information and products among individual community members of the steel industry according to said identification means.

6. The networked community market system as set forth in

claim 1

, wherein the networked community market system comprises a site on the world wide web and the controller comprises at least one server computer, said information article database and said received identification information being stored on said at least one server computer.

7. The networked community market system as set forth in

claim 6

, wherein said predetermined profile selection criteria comprises at least one of a member name, a member password.

8. The networked community market system as set forth in

claim 4

, wherein the seller product catalog comprises one or more categories of product type, product quality, product grade, product dimension and product manufacturing location.

9. The networked community market system as set forth in

claim 8

, wherein the seller product catalog includes a product pricing category further comprised of a fixed price catalog and an auction catalog.

10. The networked community market system as set forth in

claim 8

, wherein said one or more categories of product type, product quality, product grade, product dimension and product manufacturing location are selectively displayed to said buyer members according to said identification means.

11. The networked community market system as set forth in

claim 10

, wherein said identification means further comprises means for categorizing said buyer members into authorized buyer members and non-authorized buyer members such that the seller product catalog is selectively displayed only to said authorized buyer members. NOTE:

re-work for buyers only seeing product information from certain sellers.

12. A method of effecting sales of identified products between a plurality of identified community members over a closed communication network, said method providing for real-time authorization of sales and comprising the steps of:

receiving from said community members individualized profile information;

categorizing said community members into one of seller members or buyer members according to the received profile information;

receiving product information from said seller members, said product information being separated into a plurality of product types;

selectively distributing to said buyer members one or more of said plurality of product types according to the received profile information;

transmitting a purchase message from one of said buyer members to one of said seller members for a product;

recording a purchase transaction between said one of said buyer members and said one of said seller members for the product; and

13. The method of

claim 12

, wherein the stages of recording a purchase transaction further includes the step of providing a discount to the said buyer member according to said buyer member profile information.