On-line system for buyer seller matching and negotiation

• US 20070073607A1
• Filed: 09/29/2005
• Published: 03/29/2007
• Est. Priority Date: 09/29/2005
• Status: Active Grant

• Current Assignee: Lev Eydelman
• Original Assignee: Lev Eydelman
• Inventors: Eydelman, Lev
• Granted Patent: US 7,962,402 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/0241 Advertisements
• CPC Class Codes: G06Q 30/0255 based on user history
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An on-line system for creating an open market for matching buyers and sellers of brand name products. The system enables buyers to achieve the maximum value in the purchased product by engaging in open ended on-line reverse auction and negotiation process with multiple sellers of the specified product. The system enables sellers to generate sales leads and engage in open ended on-line reverse auction bidding and negotiation process with buyers.

Claims

1. A method for conducting an open ended on-line reverse auction and negotiation via Internet communication comprising the steps of:

a. presenting product selection to the buyer;

b. receiving product information selected by the buyer;

c. checking buyer'"'"'s authorization to post request for a quote;

d. providing authorization to the buyer to post request for the quote;

e. posting buyer'"'"'s request for the quote;

f. searching sellers authorized to sell product requested by buyer based on buyer'"'"'s information;

g. notifying authorized sellers of buyer'"'"'s preferences and request for the quote;

h. allowing not notified sellers to take a part in negotiation process

i. providing authorization to sellers to post a quote and relevant information in response to the buyer'"'"'s request;

j. informing sellers about buyer rating calculated from data provided by buyer in order to determine quality of the sale lead;

k. providing the environment for an on-line reverse auction and negotiation process; and

,

l. determining the end of the on-line reverse auction and negotiation process.

2. The method of claim 1, wherein buyers, sellers and the system of the present invention communicates over the Internet.

3. The method of claim 1, wherein information collected from and presented to buyers and sellers via web pages generated by the system of present invention.

4. The method of claim 1, wherein authentication, authorization and level of access of use the system of the present invention by buyers and sellers implemented based on unique identifier and secure password assigned to both parties during registration stored in the database.

5. The method of claim 1, wherein buyer'"'"'s request for the quote is assigned a unique identifier with references to the selected product and buyer identifiers is stored in the database.

6. The method of claim 1, wherein the search of the authorized to sell selected product sellers implemented based on buyer location information.

7. The method of the claim 1, wherein notification of the selected sellers, invited to take a part in an on-line reverse auction and negotiation process implemented via Email message.

8. The method of claim 1, wherein not notified but authorized sellers of the product selected by buyer are allowed to participate in an on-line reverse auction and negotiation process.

9. The method of the claim 1, wherein the identity of the sellers, taking part in on-line reverse auction and negotiation process, is revealed to all participants.

10. The method of the claim 1, wherein the identity of the buyer posted the request for the quote, can be revealed only with buyer'"'"'s approval.

11. The method of the claim 1, wherein the environment for an on-line auction and negotiation process is implemented in a form of a real time forum, where all posted information, including quotes and any provided additional information, is opened for viewing by all participants.

12. A method of calculating quality of the sale lead based on the information provided by the buyer.

13. The method of the claim 12, wherein seller can request additional information from the buyer in order to improve quality of the lead.

14. A method of generation sales leads wherein specialized software module can be embedded into affiliated web sites that channeled collected information from the potential buyers into the main system