AUTOMATED NEGOTIATION SYSTEM AND METHOD

• US 20080120244A1
• Filed: 11/21/2007
• Published: 05/22/2008
• Est. Priority Date: 11/21/2006
• Status: Abandoned Application

• Current Assignee: David M. Mello
• Original Assignee: David M. Mello
• Inventors: Mello, David M.
• Application Number:
  US11/943,685
• Publication Number:
  US 20080120244A1
• Time in Patent Office: Days
• US Class Current: 705/80
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A negotiation system can include at least one negotiation database configured to store a set of seller information comprising a subject matter identification and a set of seller price information including a list price and a lowest price, the subject matter identification identifying a subject matter of a negotiation, a set of buyer information comprising a set of buyer price information including an offer price and a maximum price for the subject matter, and a negotiation module configured to determine a negotiated price from the seller price information and the buyer price information. An automated negotiation method comprises steps to perform the foregoing.

Claims

1. A method of automated negotiation, implemented using one or more computers, the method comprising:

storing in at least one negotiation database a set of seller information comprising;

a subject matter identification and a set of seller price information including an asking price and a lowest price, the subject matter identification identifying a subject matter of a negotiation, and

a set of buyer information comprising a set of buyer price information including an offer price and a maximum price for the subject matter; and

determining a negotiated price from the seller price information and the buyer price information.

2. The method of claim 1, further comprising determining a seller price range defined by the asking price and the lowest price, and determining a buyer price range defined by the offer price and the maximum price.

3. The method of claim 2, further comprising determining an overlap of the seller price range and the buyer price range and determining the negotiation price to be within the overlap.

4. The method of claim 3, further comprising determining the overlap as a range having one end point at the higher of the lowest price and offer price and another end point at the lower of the asking price and maximum price.

5. The method of claim 3, further comprising determining the negotiated price as a midpoint of the overlap.

6. The method of claim 1, further comprising determining the negotiated price by weighting at least one of the seller price information and buyer price information.

7. The method of claim 1, further comprising determining the negotiated price as a proposed negotiated price if the seller lowest price is greater than the buyer maximum price.

8. The method of claim 7, further comprising determining the proposed negotiated price as being between the seller lowest price and the buyer maximum price.

9. The method of claim 1, further comprising determining a market value of the subject matter and determining the negotiated price as a further function of the market value.

10. The method of claim 9, further comprising determining the negotiated price as being within a predetermined percentage of the market value.

11. The method of claim 1, further comprising determining the negotiated price only if the set of seller information includes information indicating a commitment to sell the subject matter at the negotiated price, prior to determination of the negotiated price.

12. The method of claim 1, further comprising determining the negotiated price only if the set of buyer information includes information indicating a commitment to buy the subject matter at the negotiated price, prior to determination of the negotiated price.

13. The method of claim 1, further comprising providing a user interface for enabling the input of at least one of the seller information and buyer information to the at least one negotiation database.

14. The method of claim 1, further comprising generating and transmitting a notification configured for presentation via a user device in response to a determination of the negotiated price, the notification including the negotiated price.

15. The method of claim 14, further comprising providing the notification as at least one of a page for display in a browser, an e-mail, a text, message, or an automated phone call.

16. The method of claim 1, further comprising generating a contract for the purchase of the subject matter by the buyer and from the seller for the negotiated price.

17. The method of claim 1, wherein the subject matter can be real estate.

18. The method of claim 1, wherein the subject matter can be at least one vehicle.

19. A negotiation system comprises:

at least one negotiation database configured to store;

a set of seller information comprising a subject matter identification and a set of seller price information including an asking price and a lowest price, the subject matter identification identifying a subject matter of a negotiation;

and a set of buyer information comprising a set of buyer price information including an offer price and a maximum price for the subject matter; and

a negotiation module configured to determine a negotiated price from the seller price information and the buyer price information.

20. The system of claim 19, wherein the negotiation module is further configured to determine an overlap of the seller price range and the buyer price range and to determine the negotiation price to be within the overlap.

21. An auction negotiation system comprises:

at least one negotiation database configured to store;

a set of seller information comprising a subject matter identification and a set of seller price information including an asking price and a lowest price, the subject matter identification identifying a subject matter of a negotiation; and

,

for each of a plurality of buyers, a set of buyer information comprising a set of buyer price information including an offer price and a maximum price for the subject matter; and

a negotiation module configured to determine a negotiated price associated with each buyer from the seller price information and the respective buyer price information.

22. The system of claim 21, wherein the negotiation module is configured to determine a winning bid as a function of the negotiated prices.

23. A method of automated auction negotiation, implemented using one or more computers, the method comprising:

storing in at least one negotiation database a set of seller information comprising;

a subject matter identification and a set of seller price information including an asking price and a lowest price, the subject matter identification identifying a subject matter of a negotiation; and

,

for each of a plurality of buyers, a set of buyer information comprising a set of buyer price information including an offer price and a maximum price for the subject matter; and

determining a negotiated price associated with each buyer from the seller price information and the respective buyer price information.

24. The method of claim 23, further comprising determining a winning bid as a function of the negotiated prices.