Method, system and program product for electronically executing contracts within a secure computer infrastructure
First Claim
1. A method for electronically executing contracts within a secure computer infrastructure, comprising:
- obtaining contract information from a receiving contract partner;
creating a contract within the secure computer infrastructure based on the contract information;
requesting approval of the contract within the secure computer infrastructure from an originating contract partner and the receiving contract partner, the requesting including communicating an electronic approval notification to the originating contract partner and communicating an electronic approval notification to the receiving contract partner after approval by the originating contract partner, wherein the electronic approval notifications contain a hyperlink to the secure computer infrastructure;
requesting, after receiving approval from the originating contract partner and the receiving contract partner, execution of the contract within the secure computer infrastructure from the receiving contract partner and the originating contract partner after the contract is approved by the originating contract partner and the receiving contract partner, the requesting including communicating an electronic execution notification to the originating contract partner and communicating an electronic execution notification to the receiving contract partner, wherein the electronic execution notifications contain a hyperlink to the secure computer infrastructure; and
generating a final image of the contract within the secure computer infrastructure after the contract is executed by the receiving contract partner and the originating contract partner.
2 Assignments
0 Petitions
Accused Products
Abstract
Under the present invention, a customized contract is created based on the needs of the parties and is then stored within a secure computer infrastructure. Security within the computer infrastructure is typically provided through encryption such as 128 bit encryption. Moreover, all actions taken with respect to the contract (e.g., approval, execution, etc.) occur within the infrastructure and are recorded so that a record can be provided. Any party taking action will first be authenticated before access to the infrastructure is granted. In order for the contract to be electronically executed, both the originating contract partner and the receiving contract partner must first deliberately approve the contract. Once approval has been obtained, the contract can be electronically executed by both parties. After execution is complete, a final image of the contract is generated that includes the electronic signatures and the date of execution.
12 Citations
19 Claims
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1. A method for electronically executing contracts within a secure computer infrastructure, comprising:
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obtaining contract information from a receiving contract partner; creating a contract within the secure computer infrastructure based on the contract information; requesting approval of the contract within the secure computer infrastructure from an originating contract partner and the receiving contract partner, the requesting including communicating an electronic approval notification to the originating contract partner and communicating an electronic approval notification to the receiving contract partner after approval by the originating contract partner, wherein the electronic approval notifications contain a hyperlink to the secure computer infrastructure; requesting, after receiving approval from the originating contract partner and the receiving contract partner, execution of the contract within the secure computer infrastructure from the receiving contract partner and the originating contract partner after the contract is approved by the originating contract partner and the receiving contract partner, the requesting including communicating an electronic execution notification to the originating contract partner and communicating an electronic execution notification to the receiving contract partner, wherein the electronic execution notifications contain a hyperlink to the secure computer infrastructure; and generating a final image of the contract within the secure computer infrastructure after the contract is executed by the receiving contract partner and the originating contract partner. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A program product stored on a recordable medium for electronically executing contracts within a secure computer infrastructure, which when executed, comprises:
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program code for creating a contract within the secure computer infrastructure based on contract information obtained from a receiving contract partner; program code for requesting and receiving approval determinations for the contract within the secure computer infrastructure from an originating contract partner and the receiving contract partner, wherein program code for approving communicates separate electronic approval notifications to the originating contract partner and to the receiving contract partner, wherein the electronic approval notifications each contain a hyperlink to the secure computer infrastructure; program code for, after receiving approval from the originating contract partner and the receiving contract partner, requesting and receiving execution determinations for the contract within the secure computer infrastructure from the receiving contract partner and the originating contract partner after the contract is approved by the originating contract partner and the receiving contract partner, wherein the program code for executing communicates separate electronic execution notifications to the originating contract partner and to the receiving contract partner, wherein the electronic execution notifications each contain a link to the secure computer infrastructure; and program code for generating a final image of the contract within the secure computer infrastructure after the contract is executed by the receiving contract partner and the originating contract partner. - View Dependent Claims (14, 15, 16, 17, 18, 19)
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Specification