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Online transaction hosting apparatus and method

  • US 20050289039A1
  • Filed: 06/15/2004
  • Published: 12/29/2005
  • Est. Priority Date: 06/15/2004
  • Status: Active Grant
First Claim
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1. An apparatus for coordinating data exchanged in a product sale transaction, the apparatus comprising:

  • a network comprising operably connected computers having communication lines therebetween for carrying data;

    a server, corresponding to a host and operably connected to the network to host data corresponding to online transactions, a plurality of buyer computers each corresponding to a buyer having a buyer identifier;

    a plurality of seller computers each corresponding to a seller having a seller identifier;

    each buyer computer of the plurality of buyer computers further programmed to communicate to the server purchase requests, each comprising a product identifier, a price, funding information, and a buyer identifier;

    each seller computer of the plurality of seller computers further programmed to communicate to the server product records, each comprising a product identifier, a price, and a seller identifier;

    the server further programmed to identify a matched purchase request and a matched product record, selected from the plurality of purchase requests and plurality of product records based on a matching criterion;

    the server further programmed to transmit a notification to a matched buyer computer corresponding to the buyer identifier of the matched purchase request;

    the matched buyer computer further programmed to transmit to the server a notification evidencing transfer of a purchase price from the buyer associated with the matched buyer computer to the host;

    the server further programmed to transmit to a matched seller computer, corresponding to the seller identifier of the matched product record, a notice of transfer of funds;

    the server further programmed to record a buyer status indicating at least one of transmission of an acceptance from the matched buyer computer to the server, transmission of a rejection from the matched buyer computer to the server, and expiration of a waiting period in which no rejection or acceptance has been transmitted from the matched buyer computer to the server;

    the server further programmed to create a record indicating that a portion of the purchase price is owed by the host to the seller corresponding to the matched seller computer when a buyer status indicates at least one of a transmission of an acceptance and the expiration of a waiting period.

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