Interactive specialty commodities information and exchange system and method

• US 7,080,034 B1
• Filed: 05/04/2000
• Issued: 07/18/2006
• Est. Priority Date: 05/04/2000
• Status: Expired due to Term

• Current Assignee: John M. Reams
• Original Assignee: John M. Reams
• Inventors: Reams, John M.
• Primary Examiner(s): Bashore, Alain L.
• Application Number:
  US09/565,704
• Time in Patent Office: 2,266 Days
• Field of Search: 705/37, 705/39, 705/8, 705/35
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An interactive database and real time exchange system for specialty commodity products and other products that must have their identity preserved from trade to delivery. The database includes specialty commodity products available from member producers and other information related to such products, and is accessible to system users, preferably through an interactive network system. An automated exchange director provides for real time matching of specific products in the database with corresponding bids from system users, and executes trades of accepted matches for identified units of the specific products. A delivery module is provided in communication with the exchange director, and implements delivery logistics and tracking of the identified unit between the trade and completed delivery. The system can further include a forum interactive module which allows communication between and among system users, such as through chat rooms and specific product forum pages. In one embodiment applicable specifically to agricultural specialty commodity products, the system further includes a monitor for periodically providing information to the system about the condition of the specific product in a traded identified unit during delivery. The system and process provide a central exchange which includes interactive access to all information needed for production, marketing, researching, trading, use and delivery of specialty commodity products, optimizing quality, timing and exchange price for all concerned.

Claims

1. An interactive information and product exchange system for specialty agricultural commodity products that must have their identity preserved from producer to completed delivery, said system comprising:

(a) a database of specialty agricultural commodity information and products available from member producers of said products, said database being accessible for interactive use by system users;

(b) an automated exchange director providing real time matching of specific specialty products in the database utilizing all bids submitted by system users, executing trades of accepted matches for at least one identified unit of a specific products, and real time reporting and updating of matched bids and trades to said database; and

(c) a delivery module in communication with said exchange director, said delivery module including executable instructions for tracking the identified unit with said specific product between the trade and completed delivery, wherein said specific product is not mixed with other product varieties between said trade and said delivery.

2. The system of claim 1, wherein each identified unit of a specific product is housed in at least one shipping container.

3. The system of claim 2, wherein said system further comprises a tracking device for each identified unit associated with the shipping container.

4. The system of claim 3, wherein said tracking device comprises label on said container including identifying information about the specific product and identified unit.

5. The system of claim 3, wherein said tracking device comprises a monitor having a transmitter for periodically providing information to said system about said specific product in a shipping container.

6. The system of claim 5, wherein said monitor comprises a probe at least partially embedable in said specific product for sampling one or more physical characteristic of said specific product in the shipping container.

7. The system of claim 1, further comprising a central system coordinator which includes a processor, said central system coordinator being in communication with said exchange director, database and delivery module, and providing an interface thereto for system users.

8. The system of claim 2, said system further comprising a tracking device for each identified unit attached to the shipping container, and wherein said central system coordinator is in communication with a receiver for collecting periodic updates of information from said tracking device.

9. The system of claim 1, wherein said system includes executable instructions to provide system users with access to research said database.

10. An interactive real time information and product exchange system for specialty agricultural commodity products that must have their identity preserved for delivery, said system comprising:

(a) a database of specific specialty agricultural commodity products offered by member producers of said products and other information relating to specialty agricultural commodity products, said database being accessible to system users for interactive research;

(b) an automated exchange director for providing real time matching of specific products in the database utilizing all bids submitted by system users, executing trades of accepted matches for at least one identified unit of a specific products, and real time reporting and updating of bids and trades to said database;

(c) at least one shipping container in which is housed said at least one identified unit of said specific product traded, wherein said specific product is not mixed with other product varieties within said shipping container;

(d) a tracking device associated with the shipping container for each identified unit of said specific product; and

(e) a delivery module in communication with said exchange director, said delivery module including executable instructions for periodically receiving updates including information from said tracking device to track the identified unit to completed delivery.

11. The system of claim 10, further comprising an auction module including executable instructions for coordinating the matching of a specific identified unit of specialty commodity products offered by a member producer with bids of one or more system users.

12. The system of claim 10, wherein said tracking device comprises label on said container including identifying information about the specific product and identified unit.

13. The system of claim 10, wherein said tracking device comprises a monitor having a transmitter for periodically providing information to said system about said specific product in a shipping container.

14. The system of claim 13, wherein said monitor comprises a probe at least partially embedable in said specific product for sampling one or more physical characteristic of said specific product in the shipping container.

15. The system of claim 10, further comprising a central system coordinator which includes a processor, said central system coordinator being in communication with said exchange director, database and delivery module, and providing an interface thereto for system users.

16. The system of claim 10, further comprising a forum module including executable instructions for enabling interactive communication among system users.

17. The system of claim 15, wherein said system coordinator comprises a computer processor connected to system users by a network.

18. A method for providing an interactive real time exchange for specialty commodity products that must have their identity preserved through delivery, comprising the steps:

providing a network accessible database of specialty agricultural commodity product related information and products offered by member producers of said products for purchase by system users;

providing an automated exchange director adapted to provide real time matching of specific products in the database utilizing all bids submitted by system users, executing trades of accepted matches for at least one identified unit of a specific products, and real time reporting and updating of matched bids and trades to said database;

providing at least one shipping container for housing said at least one identified unit of the specific specialty product traded, wherein said specialty product is not mixed with other product varieties within said shipping container;

executing real time trades of accepted matches of identified units of said specific specialty commodity products; and

tracking the identified unit and its shipping container through completed delivery.

19. The method of claim 18, further comprising the step of providing a tracking device associated with each shipping container for an identified unit.

20. The method of claim 19, further comprising the step of obtaining periodic updates with respect to said tracking device as to information for tracking said identified unit of said specific product between trade and final delivery.

21. The method of claim 20, wherein said tracking device comprises an identifier tag associated with said shipping container, and wherein information provided for tracking includes the real time location of said identified unit.

22. The method of claim 18, further comprising the step of collecting information related to one or more specialty commodity products from database sources.

23. The method of claim 18 wherein said database is also updated and augmented with product related information from system users.

24. A computer-readable data transmission containing a data structure embodied in a carrier wave for storing a plurality of specific identity preserved specialty agricultural commodity products available from member producers of said products, each such specific product being connected with one or more associated product-specific file containing available information relating to product characteristics, production specifics and price, and a product identifying signal representing at least one identified unit of such specific identity preserved specialty commodity products available for trade and which can be used for tracking of such identified unit through completed delivery after trade.

25. The data transmission of claim 24, wherein said signal can be utilized by a user to submit a bid for trade of the at least one identified unit.

26. The data transmission of claim 24, further comprising a portion which facilitates matching of units of identity preserved specialty agricultural commodity products available with existing bids for trade of such units.

27. A method in a computer system for displaying specific identity preserved specialty agricultural commodity products available from member producers for trade, comprising:

providing a listing of one or more specific identity preserved specialty agricultural commodity products available;

providing information relating to the one or more listed specific identity preserved specialty commodity products upon request by the user;

utilizing all bids submitted from system users; and

matching said bids submitted for each such specific identity preserved specialty commodity product and displaying in real time all matched bids and offers therefor in conjunction with relevant quantity and delivery information.

28. An interactive marketing system for information relating to and availability of specialty products which can be shipped in a shipping container and which must have their identity preserved from producer to completed delivery, said system comprising:

(a) a database of specialty products available from member producers of said products and information relating to such specialty products, wherein the database is accessible for interactive use by system users;

(b) an automated exchange director providing real time matching of specific specialty products in the database utilizing all bids submitted by system users, executing trades of accepted matches for at least one identified unit of a specific products, and real time reporting and updating of matched bids and trades of such specialty products to said database;

(c) a delivery module in communication with said exchange director and including executable instructions for tracking said at least one identified unit of specialty products and its shipping container between the trade and completed delivery, wherein said specific product is not mixed with other product varieties within said shipping container.

29. The system of claim 28, further comprising a tracking device associated with the shipping container for at least one identified unit.