System and method facilitating multilateral and bilateral negotiations

• US 20020103740A1
• Filed: 01/30/2001
• Published: 08/01/2002
• Est. Priority Date: 01/30/2001
• Status: Abandoned Application

• Current Assignee: Register.com Incorporated (Web.com Group, Inc.)
• Original Assignee: Register.com Incorporated (Web.com Group, Inc.)
• Inventors: Maroney, Christopher
• Application Number:
  US09/773,183
• Publication Number:
  US 20020103740A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Domain names are transferred in a two-stage process. The first stage of the process is a public auction conducted on a web server, with the bidders accessing the auction website over the Internet. When the auction does not result in a transfer of the registration, for example when the auction has a reserve that is not met, the transaction proceeds into a second, private stage. The auction server invites the high bidder from the auction to participate in a first bilateral negotiation, preferably by sending e-mail including the URL for a negotiation website. Should this first private negotiation not result in a transfer, then another bidder from the auction is invited to participate in a second bilateral negotiation. This process continues until a transfer completes successfully or the offering party withdraws the domain name from the market.

Claims

1. A system facilitating transfer of an asset in a private negotiation following a public negotiation, the system including:

a transaction controller identifying at least one participant for a private negotiation from a set of participants from a public negotiation in which one or more participants negotiated for purchase of an asset; and

a message generator coupled to the transaction controller, the message generator forwarding a message to the at least one participant for the private negotiation inviting the at least one participant to engage in a private negotiation for the purchase of the asset,

the message generator outputting information to the at least one participant representative of at least an identification of the asset, an identification of a party offering the asset, an identification of the at least one participant and a current offer or bid price for the asset, the server outputting the information in response to the transaction controller indicating that the at least one participant will participate in the private negotiation.

2. The system of claim 1, wherein the asset is a domain name registration.

3. The system of claim 2, wherein the transaction controller receives a message indicating termination of a first private negotiation in which the asset was not transferred and subsequently identifies a second participant for a second private negotiation and causes the message generator to forward a message to the second participant for the second private negotiation,

wherein the transaction controller receives a message indicated that the second participant will engage in the second private negotiation and the transaction controller causes the message generator to output information to the second participant representative of at least an identification of the asset, an identification of a party offering the asset, an identification of the at least one participant and a current offer or bid price for the asset.

4. The system of claim 3, wherein the transaction controller identifies the at least one participant and the second participant from a rank ordering of participants in the public negotiation, the rank ordering based on final bid of the participants in the public negotiation.

5. The system of claim 1, wherein the transaction controller identifies a first and second participant for a first and a subsequent private negotiation, respectively, from a rank ordering of participants in the public negotiation, the rank ordering based on final bids of the participants in the public negotiation, with a highest final bid identifying the first participant in the first private negotiation.

6. A system facilitating transfer of an asset in a sequence including at least one private negotiation following a multilateral negotiation, the system including:

a first computer adapted to connect through a network to at least one server, the server accessing and serving data representative of a multilateral negotiation for an asset and at least a first state of a first bilateral negotiation for the asset, the first state identifying a seller and a first bidder from the multilateral negotiation to engage in the first bilateral negotiation,

the first computer receiving messages directed to the first bidder in the bilateral negotiation, including a first message inviting the first bidder to engage in the first bilateral negotiation,

wherein, upon the first bidder initiating the first bilateral negotiation, the first computer receiving the first state of the first bilateral negotiation and generating a first screen illustrating a present state of the first bilateral negotiation.

7. The system of claim 6, wherein the multilateral negotiation is an auction.

8. The system of claim 6, wherein the asset is a domain name registration.

9. The system of claim 8, wherein the multilateral negotiation is an auction.

10. The system of claim 8, wherein the first message includes a URL for a bilateral negotiation website.

11. The system of claim 6, wherein the first screen includes:

an identification of the asset that was subject to the multilateral negotiation;

a countdown clock for displaying a remaining time for the first bilateral negotiation;

a current offer price;

a counteroffer section for making a counteroffer against a previous offer;

an option section for terminating the first bilateral negotiation;

a history section for displaying a history of offers; and

a list of bidders and outcomes of negotiations, the list viewable only by the seller.

12. The system of claim 11, wherein the first message includes a URL for a bilateral negotiation website.

13. The system of claim 12, wherein the asset is a domain name registration.

14. The system of claim 6, wherein participants eligible for any bilateral negotiation consist of a registrant of the domain name registration and a plurality of bidders rank ordered in accordance with values of the bidder'"'"'s final bid in the multilateral negotiation.

15. The system of claim 14, wherein the first bilateral negotiation is followed by a second bilateral negotiation, each session being limited to the registrant of the domain name and one bidder.

16. The system of claim 15, wherein the multilateral negotiation is an auction.