On-line shopping system
First Claim
1. An on-line shopping system for selling a product over a communication network, the shopping system comprising e-commerce supplier processing means having software executable on the supplier processing means, that is operable to record a starting price for the product and to receive binding on-line purchase offers for the product, from buyers forming part of a buying group of the product, the software being configured to complete the sale transactions at a future end price that is the same as or lower than the starting price and that is determined by the number of purchase offers received from buyers in the buying group, when one of a predetermined period of time has expired and a minimum sales price for the product is achieved.
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Abstract
An on-line shopping system for selling a product over an electronic communication network such as the Internet (as detailed in FIG. 1). The shopping system comprises an e-commerce supplier processor, which is accessible by a number of potential buyers of the product, via the Internet. The processor has software executable thereon which is configured to receive binding on-line purchase offers from buyers of the product. The buyers will be required to register on-line as part of a buying group. The software is operable to complete the sales transactions at a future end price that is the same as or lower than the starting price and that is determined by the number of buyers in the buying group, when either of an expiry date of the supplier'"'"'s offer or a minimum sales price is achieved.
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Citations
19 Claims
- 1. An on-line shopping system for selling a product over a communication network, the shopping system comprising e-commerce supplier processing means having software executable on the supplier processing means, that is operable to record a starting price for the product and to receive binding on-line purchase offers for the product, from buyers forming part of a buying group of the product, the software being configured to complete the sale transactions at a future end price that is the same as or lower than the starting price and that is determined by the number of purchase offers received from buyers in the buying group, when one of a predetermined period of time has expired and a minimum sales price for the product is achieved.
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7. An on-line shopping program product which when run on a computer device which is connected to a communication network, is operable to sell a product over the communication network, the program product being operable to:
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record a starting price for the product;
receive binding on-line purchase offers for the product from buyers forming part of a buying group of the product; and
execute sales transactions between the supplier and the buyers at a future end price that is the same as or lower than the starting price and that is determined by the number of purchase offers received from buyers in the buying group, when one of a predetermined period of time has expired and a minimum sales price for the product is achieved. - View Dependent Claims (8, 9, 10, 11, 12)
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13. A method of selling a product on-line over a communication network which includes:
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recording a starting price for the product;
receiving binding on-line purchase offers for the product from buyers forming part of a buying group of the product; and
executing sales transactions between the supplier and the buyers at a future price that is the same as or lower than the starting price and that is determined by the number of purchase offers received from buyers in the buying group, when one of a predetermined period of time has expired and a minimum sales price for the product is achieved.
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14. (canceled)
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15. (canceled)
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16. (canceled)
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17. (canceled)
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18. (canceled)
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19. (canceled)
Specification