×

Ideal electronic negotiations

  • US 5,615,269 A
  • Filed: 02/22/1996
  • Issued: 03/25/1997
  • Est. Priority Date: 02/22/1996
  • Status: Expired due to Term
First Claim
Patent Images

1. An electronic process executed by a first party and a second party, with assistance from at least a plurality of trustees, wherein the first party has a selling reservation price (SRP) and the second party has a buying reservation price (BRP) and the parties are committed to a transaction if a predetermined relationship between the reservation prices is established, but not otherwise, comprising the steps of:

  • initiating the electronic process by having the first and second parties compute data strings encoding their respective reservation prices, wherein at least one of said parties uses an electronic device for such computation;

    having each of the first and second parties transmit to the trustees the data strings that encode their respective reservation prices, wherein at least one of these transmissions is carried out electronically, and wherein a subset of trustees containing less than a given number of trustees does not possess any useful information sufficient for reconstructing the reservation prices; and

    having the plurality of trustees participate in the electronic process by taking action to thereby determine whether the predetermined relationship exists, wherein the determination is made without reconstructing the reservation prices.

View all claims
  • 0 Assignments
Timeline View
Assignment View
    ×
    ×