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Method and apparatus for facilitating buyer-driven purchase orders on a commercial network system

  • US 6,260,024 B1
  • Filed: 12/02/1998
  • Issued: 07/10/2001
  • Est. Priority Date: 12/02/1998
  • Status: Expired due to Term
First Claim
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1. A computer based method for facilitating a transaction between at least two buyers, an intermediate, and at least one seller, comprising:

  • receiving at the intermediate a forward purchase order for at least one item from at least two buyers, said intermediate having a central controller;

    forwarding a purchase stipulation from the central controller to the at least two buyers responsive to the submitted forward purchase order;

    upon receiving an acceptance of said purchase stipulation, aggregating said forward purchase order to orders of like kind in a pool to form a pooled purchase order;

    making the pooled purchase order including conditions of said pool to at least one seller;

    receiving a bid from at least one seller;

    verifying said bid with conditions of said pool;

    if conditions of said pool are satisfied, binding the seller to said intermediate and storing said bid in seller database;

    selecting a best bid from said database to determine a selected seller; and

    forwarding confirmations of sale to the at least two buyers and the selected seller.

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