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Method and system for implementing a business transaction over the internet with use and consecutive transformation of information from publicly available databases, actual preferences of potential customers and statistical models of the market situation

  • US 20030233310A1
  • Filed: 06/17/2002
  • Published: 12/18/2003
  • Est. Priority Date: 06/17/2002
  • Status: Abandoned Application
First Claim
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1. A computer-based method for implementing a business transaction over the Internet that involves search, negotiation and legal closing using publicly available databases, information about participant'"'"'s actual preferences and the statistical models of the market situation, comprising the steps of:

  • a) evaluating actual preferences of the potential customers (buyers) on the basis of interactive contacts with them over the Internet and defining the admissible search domain;

    b) searching all said publicly available databases and generating the first list of admissible items inside of said search domain in accordance with said buyer'"'"'s preferences having been formulated on the previous step;

    c) in the case when said first list contains no items recurrent returning to step a) with the suggestion for said buyer to change said preferences with the goal to enlarge said admissible search domain and canceling all the next steps if said buyer disagrees with the suggested changes;

    d) creating the statistical models of the market situation and tendencies at the proximity of said first list of items including the models of the marginal market evaluations and the models of the prevailing (asking and selling) market contract terms;

    e) redefining the admissible search domain on the basis of the results obtained at the previous step and recurrent r to the step b) if necessary;

    f) informing said buyer about the marginal prices of the items'"'"' parameters from said first list and about marginal prices of the contract parameters for the same items and recurrent returning to step a)-e) if said buyer considers to change preferences or confirming the already existing said first list of items if the buyer considers not to change preferences;

    g) eliminating the items from said first list which are situated in contradiction with said statistical models of the market situation and tendencies (fair price hypothesis) thus generating the second shorter list of negotiable items;

    h) in the case when said second list contains no items recurrent returning to step a) with the suggestion for said buyer to change said preferences with the goal to enlarge said search domain and canceling all the next steps if said buyer disagrees with the suggested changes;

    i) evaluating actual preferences of the sellers of said second list of items on the basis of interactive contacts with them over the Internet and defining the admissible negotiation domains;

    j) organizing the processes of simultaneous interactive negotiations at said negotiation domains between said buyer and each of said sellers from the said step i) on the basis of information derived at said steps a) ii) and formulating suggestions which can constitute the basis of a compromise for the each pair of buyer/seller;

    k) generating the third list of the items for which the compromises between said buyer and any one of said sellers were agreed upon by both of them, designating the final item from said third list for which the result of said step j) is best for said buyer and obtaining said buyer'"'"'s approval for finalizing the transaction;

    l) in the case when said third list contains no items recurrent returning to the step a) with the suggestion for said buyer to change said preferences with the goal to enlarge said search domain and canceling all procedure if said buyer disagrees with the suggested changes;

    m) generating all necessary legal documents and organizing the processes of due diligence and legal closing;

    n) recurrent returning to the next item from said third list on said step k) if said step m) had been finished unsuccessfully and said process of due diligence had failed;

    o) in the case when said third list contains no more items recurrent returning to step a) with the suggestion for said buyer to change said preferences with the goal to enlarge said search domain and canceling all procedure if said buyer disagrees with the suggested changes.

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