Method and system for creating and verifying derivative contract terms using party relationships

• US 20020123956A1
• Filed: 05/16/2001
• Published: 09/05/2002
• Est. Priority Date: 05/16/2000
• Status: Abandoned Application

• Current Assignee: Universal Music Group Incorporated (Universal Music Group NV)
• Original Assignee: Universal Music Group Incorporated (Universal Music Group NV)
• Inventors: Galuten, Albhy
• Application Number:
  US09/859,229
• Publication Number:
  US 20020123956A1
• 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 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 99/00 Subject matter not provided for in other groups of this subclass

Abstract

Method and system for determining and verifying derivative contracts from party relationships. Parties enter into exchange-of-value transactions by offer and acceptance of contract terms that provide for an exchange of value. Parties in these transactions are value chain participants, with a plurality of express and implied contractual relationships among the participants within the value chain. The present invention determines the derivative contract terms for offer and acceptance of exchange-of-value transactions based on relationships between value chain participants. Reference services derive the contract terms by determining the relationships between parties and then applying rules to these relationships in order to generate the contract terms. The present invention is particularly applicable in the area of e-commerce transactions, where a plurality of complex relationships creates complex business transactions. Thus, in the area of the purchase of audio and video content through electronic media, as well as the purchase of products via web sites, reference services are able to derive the contractual terms for such purchases and include them in a purchase agreement, thereby protecting the rights and duties of value chain participants that are involved in the transaction.

Claims

1. A method for determining the terms of an exchange-of-value transaction, the method comprising the steps of:

requesting the terms of an exchange-of-value transaction by a requesting party;

identifying value chain participants to the exchange-of-value transaction whose relationship data affect the terms of the exchange-of-value transaction;

determining what relationship data from said value chain participants is relevant to the terms of the exchange-of-value transaction;

retrieving the relevant relationship data from said value chain participants;

applying derivation rules to said relevant relationship data to derive terms of the exchange-of-value transaction based on the relationships between said value chain participants;

adding additional terms to the exchange-of-value transaction that are not derived from said relationship data;

including all said derivative terms and said additional terms as the terms of the requested exchange-of-value transaction; and

returning said exchange-of-value transaction terms to a receiving party.

2. The method of claim 1, wherein said requesting party is an offer or who requests the terms of said exchange-of-value transaction, and wherein said terms of said exchange-of-value. transaction are sent from the offeror to an offeree as an offer to enter into an exchange-of-value transaction.

3. The method of claim 1, wherein said requesting party is an offeree who requests the terms of said exchange-of-value transaction, and wherein said offeree then uses said terms of said exchange-of-value transaction to accept, reject, or make a counter offer to a separate existing offer to enter into an exchange-of-value transaction.

4. The method of claim 1, wherein said requesting party requests said terms of said exchange-of-value transaction, and wherein said terms of said exchange-of-value transaction are then used by the requesting party to request an offer for an exchange-of-value transaction from an offeror.

5. The method of claim 1, wherein said value chain participants are express or implied parties to said exchange-of-value transaction.

6. The method of claim 1, wherein said relationship data is at least one of an explicit, express, contractual relationship between said value chain participants, an implicit, implied, desired relationship between said value chain participants, a direct or indirect relationship between said value chain participants, a formal or informal relationship between said value chain participants, a promotional relationship between said value chain participants, a relationship between and among a class of value chain participants, and a present, past or anticipated future relationship between said value chain participants.

7. The method of claim 1, wherein said derivation rules are dynamic and change based on said value chain participants and said relationship data, and wherein said derivation rules are static and remain constant regardless of said value chain participants and said relationship data.

8. The method of claim 1, wherein said additional terms are standard terms included by at least one of said value chain participants irrespective of said relationship data.

9. The method of claim 1, wherein said receiving party is an offeror that receives said exchange-of-value transaction terms as terms of a possible offer that said offeror may send to a value chain participant.

10. The method of claim 1, wherein said receiving party is an offeree that receives said exchange-of-value transaction terms as an offer to enter into an exchange-of-value transaction from a value chain participant.

11. The method of claim 1, wherein said receiving party is an offeree that receives said exchange-of-value transaction terms to verify the terms of a separate offer received from a value chain participant.

12. The method of claim 1, further comprising a reference service that includes, modifies, and applies said derivation rules to said relationship data to determine said derivative terms of said exchange-of-value transaction.

13. The method of claim 12, wherein said reference service requests and receives reference data from at least one additional reference service.

14. The method of claim 13, wherein said reference service applies said derivation rules to said requested and received reference data to derive said terms of said exchange-of-value transaction.

15. The method of claim 13, wherein said reference service includes said requested and received reference data as said terms for said exchange-of-value transaction.

16. The method of claim 1, wherein said derivative terms and said additional terms are referenced by reference data pointers.

17. The method of claim 16, wherein said reference data pointers are passed between said reference service and at least one additional reference service to communicate reference data between said reference service and said additional reference services.

18. The method of claim 16, wherein said reference data pointers include a distributor ID, object ID, retailer ID, player ID, instantiator ID and synch ID.

19. The method of claim 16, wherein said reference data pointers include product identifiers including a product ID, group ID and object ID.

20. The method of claim 16, wherein said reference data pointers include value chain identifiers including a distributor ID, channel ID, player ID, instantiator ID and temporal ID.

21. The method of claim 1, wherein said derivative terms and said additional terms are included in a value chain management object.

22. The method of claim 21, wherein said value chain management object comprises an offer, acceptance or transaction, and wherein said derivative terms and said additional terms comprise the terms of said offer, acceptance or transaction.

23. The method of claim 13, wherein said requested and received reference data is passed as a value chain management object.

24. The method of claim 1, wherein said relationship data is included in an electronic contract between value chain participants.

25. The method of claim 1, wherein said terms for said exchange-of-value transaction is for the purchase, licensing or access of audio, video and other electronic content.

26. The method of claim 25, wherein said request for said terms of said exchange-of-value transaction is initiated in response to the super distribution of said audio, video and other electronic content from one value chain participant to another.

27. The method of claim 1, wherein said requesting party is a producer for the purchase, licensing or access of audio, video and other electronic content.

28. The method of claim 27, wherein said receiving party is a consumer for the purchase, licensing or access of audio, video and other electronic contract.

29. The method of claim 28, wherein said terms of said exchange-of-value transaction are for said purchase, licensing or access of audio, video and other electronic content through an exchange-of-value transaction from said producer to said consumer, and wherein upon acceptance of said terms by said consumer, said consumer is able to download or access said audio, video and other electronic content.

30. The method of claim 1, wherein said requesting party is a consumer for the purchase, licensing or access of audio, video and other electronic content.

31. The method of claim 30, wherein said receiving party is a producer for the purchase, licensing or access of audio, video and other electronic contract.

32. The method of claim 31, wherein said terms of said exchange-of-value transaction are for said purchase, licensing or access of audio, video and other electronic content through an exchange-of-value transaction from said producer to said consumer, and wherein upon acceptance of said terms by said producer, said consumer is able to download or access said audio, video and other electronic content.

33. A computer with processing and data storage means performing a method for determining the terms of an exchange-of-value transaction, the method comprising the steps of

requesting the terms of an exchange-of-value transaction by a requesting party;

identifying value chain participants to the exchange-of-value transaction whose relationship data affect the terms of the exchange-of-value transaction;

determining what relationship data from said value chain participants is relevant to the terms of the exchange-of-value transaction;

retrieving the relevant relationship data from said value chain participants;

applying derivation rules to said relevant relationship data to derive terms of the exchange-of-value transaction based on the relationships between said value chain participants;

adding additional terms to the exchange-of-value transaction that are not derived from said relationship data;

including all said derivative terms and said additional terms as the terms of the requested exchange-of-value transaction; and

returning said exchange-of-value transaction terms to a receiving party.

35. The apparatus of claim 34, said processor further including instructions for acting as a personal reference service, wherein said personal reference service may determine the derivative terms of an exchange-of-value transaction from relationship data stored in the personal reference service, and wherein said personal reference service may make payment for exchange-of-value transactions from the electronic wallet of the personal reference service.

36. The apparatus of claim 34, said processor further including instructions for sending, receiving, communicating and deriving the terms of an exchange-of-value transaction via the Internet and other electronic communication media.

37. The apparatus of claim 34, said processor further including instructions for sending, receiving, communicating and deriving the terms of an exchange-of-value transaction via Interactive TV.

34. An apparatus for determining the terms of an exchange-of-value transaction, comprising:

a processor;

a memory storing processing instructions for controlling the processor, the processor operative with the processing instructions to;

receive a request for the terms of an exchange-of-value transaction from a requesting party;

identify value chain participants to the exchange-of-value transaction whose relationship data affect the terms of the exchange-of-value transaction;

determine what relationship data from said value chain participants is relevant to the terms of the exchange-of-value transaction;

retrieve the relevant relationship data from said value chain participants;

apply derivation rules to said relevant relationship data to derive terms of the exchange-of-value transaction based on the relationships between said value chain participants;

add additional terms to the exchange-of-value transaction that are not derived from said relationship data;

include all said derivative terms and said additional terms as the terms of the requested exchange-of-value transaction; and

return said exchange-of-value transaction terms to a receiving party.