Apparatus and method of collaborative funding of new products and/or services
First Claim
1. A method for collaboratively funding output over a communications network comprising the steps of:
- a. defining the output by means of a specification;
b. establishing a predetermined compensation, the “
hurdle level”
, required by a provider participant to supply the output in accordance with said specifications;
c. establishing terms for funding and supplying the output;
d. creating a “
collaborative funding pool”
by posting said specification, terms, and hurdle level to a public communications area on the communications network accessible to customer participants that may have an interest in the output and are willing to contribute at least a portion of said hurdle level;
e. receiving binding contingent purchase orders from a plurality of customer participants who agree to participate in said collaborative funding pool, each contingent purchase order constituting a binding offer to contribute a portion of said compensation representative of what each customer participant is willing to contribute for said output should the hurdle level be reached;
f. binding said provider participant to supply the output according to the stated specification and at least one of the terms should the hurdle level be achieved; and
g. making selected information pertaining to the status of said collaborative funding pool available to said participants.
2 Assignments
0 Petitions
Accused Products
Abstract
This invention is a Collaborative Funding Engine (the Engine) that accurately predicts initial demand for and facilitates the funding of design, research, development and/or delivery of products, and/or services (Outputs). The Engine enables one or a plurality of those (the Customers) who desire specific Outputs to combine their resources in Collaborative Funding Pools (CFPs) to fund the Outputs by an Output producer (the Provider) prior to the Output'"'"'s creation. The Engine includes a Contingent Purchase Order (CPO) system that creates binding obligations on Providers and Customers contingent upon the CFP reaching a specified level (the Hurdle Level) of participation by Customers. The Engine includes an optional Relative Value Bidding feature that can allow each Customer in a CFP to determine its own price for an Output. As a result, different Customers can pay different prices for the same Output depending upon the Output'"'"'s relative value to the Customer. The collaborative activity of the Engine is stimulated by its Notification Management Module, which informs Providers and Customers of activity within the Engine.
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Citations
32 Claims
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1. A method for collaboratively funding output over a communications network comprising the steps of:
-
a. defining the output by means of a specification;
b. establishing a predetermined compensation, the “
hurdle level”
, required by a provider participant to supply the output in accordance with said specifications;
c. establishing terms for funding and supplying the output;
d. creating a “
collaborative funding pool”
by posting said specification, terms, and hurdle level to a public communications area on the communications network accessible to customer participants that may have an interest in the output and are willing to contribute at least a portion of said hurdle level;
e. receiving binding contingent purchase orders from a plurality of customer participants who agree to participate in said collaborative funding pool, each contingent purchase order constituting a binding offer to contribute a portion of said compensation representative of what each customer participant is willing to contribute for said output should the hurdle level be reached;
f. binding said provider participant to supply the output according to the stated specification and at least one of the terms should the hurdle level be achieved; and
g. making selected information pertaining to the status of said collaborative funding pool available to said participants. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31)
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32. An apparatus for collaboratively funding output over a communications network comprising the steps of:
-
a. defining the output by means of a specification;
b. establishing a predetermined compensation, the “
hurdle level”
, required by a provider participant to supply the output in accordance with said specifications;
c. establishing terms for funding and supplying the output;
d. creating a “
collaborative funding pool”
by posting said specification, terms, and hurdle level to a public communications area on the communications network accessible to customer participants that may have an interest in the output and are willing to contribute at least a portion of said hurdle level;
e. receiving binding contingent purchase orders from a plurality of customer participants who agree to participate in said collaborative funding pool, each contingent purchase order constituting a binding offer to contribute a portion of said compensation representative of what each customer participant is willing to contribute for said output should the hurdle level be reached;
f. binding said provider participant to supply the output according to the stated specification and at least one of the terms should the hurdle level be achieved; and
g. making selected information pertaining to the status of said collaborative funding pool available to said participants.
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Specification