METHOD AND APPARATUS FOR NEGOTIATING A CONTRACT OVER A COMPUTER NETWORK

• US 20070088663A1
• Filed: 12/01/2006
• Published: 04/19/2007
• Est. Priority Date: 07/05/2000
• Status: Abandoned Application

• Current Assignee: J J Donahue & Company
• Original Assignee: J J Donahue & Company
• Inventors: Donahue, John
• Application Number:
  US11/565,732
• Publication Number:
  US 20070088663A1
• Time in Patent Office: Days
• US Class Current: 705/80
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 50/08 Construction
• CPC Class Codes: G06Q 50/16 Real estate
• CPC Class Codes: G06Q 50/18 Legal services
• CPC Class Codes: G06Q 50/188 Electronic negotiation
• CPC Class Codes: Y10S 707/99933 Query processing, i.e. searching
• CPC Class Codes: Y10S 707/99945 Object-oriented database structure processing
• CPC Class Codes: Y10S 707/99953 Recoverability

Abstract

The invention provides a system and method that facilitates a structured contract negotiation between two parties, such as parties to a real estate transaction. A series of predefined milestone negotiation steps are executed on a computer that couples two parties through a network, such as the Internet. The negotiators answer predefined questions regarding a proposed transaction in such a manner that certain aspects of the transaction can be agreed upon early during the negotiation process while others are deferred to later phases. In each phase, each party selects from a predefined list of actions associated with a particular aspect of the negotiation (e.g., sale price). Third-party service providers such as brokers and architects can be automatically pulled into the negotiations using computer-issued requests for services.

Claims

1. A computer-assisted method of negotiating a contract over a computer network, comprising the steps of:

(1) in a computer, receiving from a first contract negotiator information designating, for each of a plurality of contract phases, information identifying a person or entity having authority to negotiate a corresponding contract phase, and a role played by that person or entity;

(2) permitting each person or entity having authority for negotiating each respective contract phase to log into the computer and to negotiate with a second negotiator using the computer, wherein the computer displays on a first computer screen a plurality of predefined contract provisions, each relating to a contract provision contained within one of the corresponding contract phases and including an agree/defer selector for a first negotiator and an agree/defer selector for a second negotiator; and

(3) denying persons or entities not authorized in step (1) from negotiating with the second negotiator.