Intelligent internet bargaining system

• US 20040220884A1
• Filed: 11/01/2002
• Published: 11/04/2004
• Est. Priority Date: 11/01/2002
• Status: Abandoned Application

• Current Assignee: Pricebargains Com LLC
• Original Assignee: Pricebargains Com LLC
• Inventors: Khan, Saadat H.
• Application Number:
  US10/286,306
• Publication Number:
  US 20040220884A1
• Time in Patent Office: Days
• US Class Current: 705/80
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

An electronic intelligent bargaining system enables buyers to bargain with the system in order to negotiate an optimum bargain price; and enables sellers to sell or list their products by bargaining with the system to negotiate the best-offered price. The system permits purchase and sale of goods to be transacted at a bargained for price that represents the best bargain obtained by the parties. A bargained for price for transactions consummated by the electronic bargaining system is reached by the parties in a highly reliable manner using an electronic assistant, called “BargainGuru” or “BAGU”. Principal attributes of that bargained for price are those captured by the characterization: “Our Best Bargain, Your Best Bargain”.

Claims

1. A computer-based intelligent Internet bargaining system, comprising:

a. an intelligent business controller having an electronic assistant BargainGuru, BAGU which takes into account the selling preferences of the vendors and buying preferences of the buyers to negotiate a sale price;

b. a network interface;

c. a memory, data storage device;

d. an operating system;

e. a database management system;

f. a database; and

g. said system having a high bandwidth connection to the Internet.

2. A system as recited by claim 1, being configured to act as a web-server communicating with buyers and sellers using a communication mode selected from the group consisting of on-line, off-line and real-time.

3. A system as recited by claim 1, being further configured to process requests from buyers and/or sellers to negotiate a final selling price using an intelligent electronic bargaining assistant.

4. A system as recited by claim 1, being further configured to accept seller pricing preferences and buyer preferences to store and access data related to buyers and sellers, to guide buyers and sellers in the negotiation process.

5. A system as recited by claim 1 wherein the bargaining assistant is able to negotiate with the buyer to conclude a sale on behalf of the seller, said seller being offline, and said bargaining assistant using seller'"'"'s pricing strategies and preferences.

6. A system as recited in claim 1 wherein the bargaining assistant is able to negotiate with the seller to arrive at a sale price on behalf of the buyer, said buyer being offline, and said bargaining assistant using buyer preferences,

7. A system as recited by claim 1, being further configured to interact with multiple customers while, at the same time providing each customer with his/her own bargain.

8. A system as recited by claim 5, being further configured to enable buyers and sellers to input data related to a bargaining process.

9. A system as recited by claim 1, being further configured to be implemented on a distributed network wherein multiple business controller modules are connected to multiple customers.

10. A system as recited by claim 7, wherein said distributed network comprises the Internet and said interface comprises a Web browser.

11. A system as recited by claim 1 wherein the business control module is connected only to a local server and negotiates a sale and keeps track of inventory of the store,

14. A system as recited by claim 1, further configured to register users by:

a. asking for their profile and preselected information about said users;

b. storing said profile and said preselected information in a secure database; and

c. issuing to buyer and seller a unique membership identification number.

16. A system as recited by claim 1, wherein said system program is configured to provide buyer with preselected product information, including a list comprising products available for purchase through said system, product prices, and relative information concerning products using the BargainGuru electronic assistant system.

19. A computer-based interactive program, comprising:

a. a business control module with intelligent electronic assistant BargainGuru

b. a payment processor module;

c. a bargain formulation processor module;

d. a database management module;

e. a network interface module;

f. each of said payment processor, bargain formulation, database management and network interface modules running on an operating system, in coordination with a system, as recited by claim 1;

and

g. said program being further configured for attachment thereto of at least one additional module.

20. A computer program as recited by claim 19, configured to run on a web-server communicating with buyers and sellers using a communication mode selected from the group consisting of on-line, off-line and real-time.

21. A computer program as recited by claim 19, being further configured to process requests from buyers and sellers.

22. A computer program as recited by claim 19, being further configured to store data related to buyers and sellers, transactions, responses, bargain prices, and bargain deals for use in connection with database operations.

23. A computer program as recited by claim 19, being further configured to have an interface that provides means enabling buyers and sellers to access the products and/or services available through the system for sale.

24. A computer program as recited by claim 23, being further configured to enable buyers and sellers to input data related to a bargaining process.

25. A computer program as recited by claim 19, being further configured to be implemented on a distributed network.

26. A computer program as recited by claim 25, wherein said distributed network comprises the Internet and said interface comprises a Web browser.

27. A computer program as recited by claim 25, wherein said computer program further comprises a program for enabling buyers to (a) register by agreeing to the terms and conditions of the system (b) submit a buyer profile containing preselected information about said buyers, and (c) login to the system and bargain for goods and/or services.

28. A computer program as recited by claim 27, wherein said computer program is further configured to issue a unique membership identification and password to said buyers and to sellers registering with the system.

29. A computer program as recited by claim 19, further configured to register users by (a) asking for their profile and preselected information about said users;

(b) storing said profile and preselected information in a secure database; and

(c) issuing to buyer and seller a unique membership identification number.

30. A computer program as recited by claim 27, wherein said computer program is configured to authenticate buyer and/or seller to use services provided by the computer program.

31. A computer program as recited by claim 19, wherein said system is configured to provide buyer with preselected product information, including a list comprising products available for purchase through said system, product process and relative information concerning products, said preselected product information being provided after buyer logs onto the system by inputting buyer'"'"'s membership ID and password.

32. A computer program as recited by claim 19, wherein said computer program is further configured to receive from a remote buyer a purchase comprising:

a. a purchase offer; and

b. a payment identifier specifying a financial account from which funds are appointed to be paid for a purchase of a product or service under conditions meeting buyer'"'"'s requirements.

33. A computer program as recited by claim 19, wherein said computer program is further configured to initiate use of a financial account to effect said payment from said buyer.

34. A computer program as recited by claim 19, wherein said computer program is further configured to receive payment from said buyer through an electronic settlement system and said settlement system comprises electronic fund transfer, digital cash, electronic cash and a credit card system selected from the group consisting of credit card and debit card.

35. A computer program as recited by claim 27, wherein said purchase offer from said buyer comprises information elements, including product quantity, product quality, purchase date, purchase price, payment terms, date of delivery, pickup location and delivery location of said product or services and issuing coupon identifying the purchase.

36. A computer program as recited by claim 35, wherein said system computer program is further configured to notify buyer that buyer'"'"'s purchaser offer is accepted and buyer has entered into a legally binding contract with the system.

37. A computer program as recited by claim 35, wherein said computer program is further configured to generate a bargain price response to buyer'"'"'s purchase offer and transmit said bargain price response to said buyer.

12. A system as recited by 9, wherein said system further comprises a program for:

a. enabling buyers to register by agreeing to the terms and conditions of the BargainGuru system;

b. enabling buyers to submit a buyer profile containing preselected information about said buyers; and

c. enabling buyers to login to the system and bargain for goods and/or services.

13. A system as recited by claim 12, wherein said system program is further configured to issue a unique membership identification and password to said buyers and to sellers registering with the system.

15. A system as recited by claim 12, wherein said system program is configured to authenticate the buyer and/or seller to use the service provided by the system program.

17. A system for bargaining over the Internet, comprising:

a. a processor;

b. a network interface;

c. a memory;

d. a data storage device;

e. an operating system;

f. a database management system

g. a database; and

h. and a high bandwidth connection to the Internet;

i. said system being configured to act on behalf of a customer comprised of a buyer or a seller, and to perform a bargaining process comprising the steps of;

j. generating a bargain offer proposed by said customer;

k. accepting or rejecting a counter offer proposed by said system for said customer;

l. providing choices available to said customer and assisting said customer with product selection and bidding opportunities to arrive at a best bargain price;

m. guiding said customer throughout said bargaining process using bargaining assistant recommendations including comparative quotes, product ratings, alternative products, and pricing assistance.

18. A system as recited by claim 17, further configured to obtain a deal best suited to the buyer through the system by providing said comparative quotes for a particular product appointed for purchase from the system, said comparative quotes being obtained by searching for information or prices published by other extant systems or websites that sell substantially the same product.

38. In a computer program for electronically making a binding contract between buyer and seller, the improvement comprising the steps of;

a. receiving a purchase offer from the buyer containing a buyer request and a buyer payment identifier specifying a financial account from which funds may be paid for a purchase meeting criteria set by the buyer; and

b. notifying said buyer concerning acceptance or rejection of said purchase offer.