ELECTRONIC MARKETPLACE THAT FACILITATES TRANSACTIONS BETWEEN CONSOLIDATED BUYERS AND/OR SELLERS
First Claim
1. (class 707/2,10), A system for managing negotiations for a proposed transaction involving a first side and an opposing second side, comprising:
- a data structure that stores identification and participation information regarding a plurality of subscribing parties that subscribe to consolidate their resources to satisfy requirements of the first side of the proposed transaction;
a first interface through which a maker from among the subscribing parties can set basic terms of the proposed transaction;
a second interface through which individual ones of the subscribing parties can enter their participation information; and
a third interface through which a first responding party on the opposing second side of the transaction parties can enter its participation information.
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Accused Products
Abstract
Systems, databases, methods, and implementations provide for electronic management of negotiations for a proposed transaction, where at least one of the first and second sides of the transaction include multiple subscribing parties. Contemplated transactions preferably, but do not necessarily rise to the level of a legally biding commitment, and include all manner of transactions for goods and services. The basic terms of a proposed transaction will usually, but not necessarily, apply to all parties. Preferred embodiments are also parameter driven, and self-evolving, and handle basic transaction terms such as action, item description, quantity, maximum price, commitment windows, and close date, as well as additional transaction terms that may or may not have been adopted by previous users. Transactions can be single for single or multiple lots.
343 Citations
26 Claims
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1. (class 707/2,10), A system for managing negotiations for a proposed transaction involving a first side and an opposing second side, comprising:
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a data structure that stores identification and participation information regarding a plurality of subscribing parties that subscribe to consolidate their resources to satisfy requirements of the first side of the proposed transaction; a first interface through which a maker from among the subscribing parties can set basic terms of the proposed transaction; a second interface through which individual ones of the subscribing parties can enter their participation information; and a third interface through which a first responding party on the opposing second side of the transaction parties can enter its participation information. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A method of facilitating a transaction involving transfer of funds, comprising:
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providing a first electronically operable facility through which a maker can set basic terms of the transaction; providing a second electronically operable facility through which a second unrelated party can join with the maker in consolidating their resources to satisfy one side of the transaction; and providing a third electronically operable facility through which a third unrelated party can subscribe as a counterparty to the transaction. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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Specification