METHOD, SYSTEM, AND APPARATUS FOR DYNAMICALLY CREATING ELECTRONIC CONTRACTS
First Claim
1. A transaction processing system configured to determine potential transactions between two or more potential transaction participants according to transaction parameters, the transaction processing system comprising:
- at least one data store including transaction parameters associated with each of said participants; and
a transaction processing engine fordetermining a plurality of potential transactions based upon the transaction parameters and, for each potential transaction, assigning a separate transaction score to each of said participants such that a plurality of scores, one for each of said participants, is associated with each potential transaction,ranking each potential transaction based on a mutual benefit of each potential transaction to all transaction participants and assigning a higher rank to a particular potential transaction that has a higher mutual benefit than that for another potential transaction, wherein said mutual benefit is computed taking into consideration of a total score of all participants and a participant score differential for each potential transaction, wherein each participant score differential measures a difference between transaction scores respectively assigned to each transaction participant for a corresponding potential transaction, and wherein a smaller participant score differential means a higher mutual benefit, andsequentially presenting to each of said participants each potential transaction according to decreasing rank until all transaction participants agree to a presented potential transaction or until no potential transactions remain to be presented;
determining whether an acceptable potential transaction more favorable to the at least one rejecting transaction participant can be generated by another participant altering at least on associated transaction parameter; and
notifying said another participant that an acceptable potential transaction can be generated if said participant modifies at least one associated transaction parameter.
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Accused Products
Abstract
A method of dynamically negotiating a transaction can include determining a potential transaction between participants according to transaction parameters stored within a transaction parameter data store. The transaction parameters can be associated with each of the participants and can specify acceptable transaction terms. The potential transactions can be evaluated according to a mutual benefit conferred on the participants by the potential transactions according to the transaction parameters. The potential transactions can be ordered according to decreasing mutual benefit; and, the potential transaction having the greatest mutual benefit can be presented to the participants.
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Citations
10 Claims
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1. A transaction processing system configured to determine potential transactions between two or more potential transaction participants according to transaction parameters, the transaction processing system comprising:
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at least one data store including transaction parameters associated with each of said participants; and a transaction processing engine for determining a plurality of potential transactions based upon the transaction parameters and, for each potential transaction, assigning a separate transaction score to each of said participants such that a plurality of scores, one for each of said participants, is associated with each potential transaction, ranking each potential transaction based on a mutual benefit of each potential transaction to all transaction participants and assigning a higher rank to a particular potential transaction that has a higher mutual benefit than that for another potential transaction, wherein said mutual benefit is computed taking into consideration of a total score of all participants and a participant score differential for each potential transaction, wherein each participant score differential measures a difference between transaction scores respectively assigned to each transaction participant for a corresponding potential transaction, and wherein a smaller participant score differential means a higher mutual benefit, and sequentially presenting to each of said participants each potential transaction according to decreasing rank until all transaction participants agree to a presented potential transaction or until no potential transactions remain to be presented; determining whether an acceptable potential transaction more favorable to the at least one rejecting transaction participant can be generated by another participant altering at least on associated transaction parameter; and notifying said another participant that an acceptable potential transaction can be generated if said participant modifies at least one associated transaction parameter. - View Dependent Claims (2)
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3. A computer-readable storage, having stored thereon a computer program having a plurality of code sections executable by a machine for causing the machine to perform the steps of:
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determining a plurality of potential transactions according to transaction parameters stored within at least one transaction parameter data store, said transaction parameters being associated with two or more potential transaction participants, and, for each potential transaction, assigning to each of said participants a separate transaction score such that a plurality of scores, one for each of said participants, is associated with each potential transaction; ranking each potential transaction based on a mutual benefit of each potential transaction to all transaction participants and assigning a higher rank to a particular potential transaction that has a higher mutual benefit than that for another potential transaction, wherein said mutual benefit is computed taking into consideration of a total score of all participants and a participant score differential for each potential transaction, wherein each participant score differential measures a difference between transaction scores respectively assigned to each participant for a corresponding potential transaction, wherein a smaller participant score differential means a higher mutual benefit; and sequentially presenting to each of said participants each potential transaction according to decreasing rank until all transaction participants agree to a presented potential transaction or until no potential transactions remain to be presented; determining whether an acceptable potential transaction more favorable to the at least one rejecting transaction participant can be generated by another participant altering at least on associated transaction parameter; and notifying said another participant that an acceptable potential transaction can be generated if said participant modifies at least one associated transaction parameter. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10)
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Specification