PRODUCT EXCHANGE SYSTEM
5 Assignments
0 Petitions
Accused Products
Abstract
An exchange system for facilitating the purchase of products is described. The system is coupled, in one embodiment, to a communications link. Potential product purchasers and sellers may access the exchange system via the network, and submit offers and/or pricing requests to such system. In response to the requests, the system processor retrieves the stored data from the respective databases, and causes such data to be transmitted to the local site for display. The exchange systems also executes certain functions in response to commands and data transmitted from buyer sites, seller sites and institution sites.
3 Citations
36 Claims
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1-26. -26. (canceled)
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27. A method for operating an exchange coupled to a communications network and including a control unit, an offer-to-sell database configured to store specific offers to sell, and an offer-to-buy database configured to store offers to buy, the method comprising:
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upon receipt of offers to buy from potential buyers, downloading the offers to buy into the offer-to-buy database, the control unit configured to facilitate dynamic bidding by the potential buyers to achieve a highest price offer to buy; upon receipt of an offer to sell from a potential seller, downloading the offer to sell into the offer-to-sell database; and comparing the offers to buy stored in the offer-to-buy database with parameters of the offer to sell stored in the offer-to-sell database.
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- 28. The method in accordance with claim 28, further comprising communicating to the potential seller only offers to buy within a designated geographic region.
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30. A storage device having stored therein executable instructions that, upon execution by a computing device, result in the performance of operations comprising:
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operating an exchange coupled to a communications network and including an offer-to-sell database configured to store specific offers to sell and an offer-to-buy database configured to store offers to buy, the operating including; upon receipt of offers to buy from potential buyers, downloading the offers to buy into the offer-to-buy database, wherein the exchange is configured by the instructions to facilitate dynamic bidding by the potential buyers to achieve a highest price offer to buy; upon receipt of an offer to sell from a potential seller, downloading the offer to sell into the offer-to-sell database; and comparing the offers to buy stored in the offer-to-buy database with parameters of the offer to sell stored in the offer-to-sell database. - View Dependent Claims (31, 32)
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33. An exchange system configured to be coupled to a communications network, the exchange system comprising:
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a processing unit; an offer-to-sell database configured to store specific offers to sell; an offer-to-buy database configured to store offers to buy; and a storage device coupled to the processing unit, the storage device having stored therein executable instructions that, upon execution, cause the exchange system to perform operations including; upon receipt of offers to buy from potential buyers, downloading the offers to buy into the offer-to-buy database, wherein the exchange system is configured to facilitate dynamic bidding by the potential buyers to achieve a highest price offer to buy; upon receipt of an offer to sell from a potential seller, downloading the offer to sell into the offer-to-sell database; and comparing the offers to buy stored in the offer-to-buy database with parameters of the offer to sell stored in the offer-to-sell database. - View Dependent Claims (34, 35, 36)
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Specification