Automated trading for e-markets

• US 7,373,325 B1
• Filed: 10/13/2000
• Issued: 05/13/2008
• Est. Priority Date: 10/13/2000
• Status: Expired due to Fees

• Current Assignee: RPX Clearinghouse LLC (RPX Corporation)
• Original Assignee: Nortel Networks Limited (Nortel Networks Corporation)
• Inventors: Newland, Christopher M., Buckle, Philip J, Hadingham, Robert G
• Primary Examiner(s): NGUYEN, NGA B
• Application Number:
  US09/688,289
• Time in Patent Office: 2,769 Days
• Field of Search: 705 35- 37, 705/26, 705/27, 705/80, 705/38
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A system for use on an electronic network for negotiating contracts between at least one buyer and at least one seller, in which proposals may be made or called for by buyers and/or sellers, and in which each party is represented by a software agent.

Claims

1. A software agent stored on a computer-readable medium, the software agent being for a party conducting electronic trading and comprising:

(a) a store of a plurality of negotiation profiles each negotiation profile determining a different set of negotiation characteristics and requirements including a mapping for converting respective qualitative attributes for a part of a bid into numerical values representing the qualitative attributes and a weighting factor for each part of a bid;

(b) a transaction engine responsive to the commercial situation or state of the party to select an optimal negotiation profile appropriate to that situation or state;

(c) a negotiation engine driven by the transaction engine that is able to generate bids and counter bids and is further adapted to compute a single value for a bid by adjusting the numerical value using the weighting factor and summing the adjusted values, the single numerical value being used to determine whether to accept the bid or not; and

(d) means, adapted to cause the transaction engine to initiate or conduct e-commerce negotiations using the negotiation engine programmed with the selected negotiation profile.

2. A software agent according to claim 1, in which the negotiation engine is a component of a distributed architecture.

3. A method of performing automated reverse auction on an electronic network using software agents for buyers and sellers comprising the steps of:

(a) providing the software agent for each buyer and each seller with a store of a plurality of negotiation profiles each negotiation profile determining a different set of negotiation characteristics and requirements including a mapping for converting qualitative attributes for a part of a bid into numerical values representing the qualitative attributes and a weighting factor for each part of a bid;

(b) a transaction engine responsive to the commercial situation or state of the party selecting an optimal negotiation profile appropriate to that situation or state;

(c) providing a negotiation engine driven by the transaction engine that is able to generate bids and counter bids and is further adapted to compute a single value for a bid by adjusting the numerical value using the weighting factor and summing the adjusted values, the single numerical value being used to determine whether to accept the bid or not; and

(d) causing the transaction engine to initiate or conduct e-commerce negotiations using the negotiation engine programmed with the selected negotiation profile.

4. A method according to claim 3, further comprising the step of providing each software agent as a component of a distributed architecture.

5. A method of automated bi-lateral negotiation in which each buyer is represented by a software agent and each seller is represented by a software agent, comprising the steps of:

(e) the buyers'"'"' agents co-operating to produce a call for proposal to purchase collectively from one or more seller

(f) providing the software agent for each buyer and each seller with a store of a plurality of negotiation profiles each negotiation profile determining a different set of negotiation characteristics and requirements including a mapping for converting qualitative attributes for a part of a bid into numerical values representing the qualitative attributes and a weighting factor for each part of a bid;

(g) a transaction engine responsive to the commercial situation or state of the party selecting an optimal negotiation profile appropriate to that situation or state;

(h) a negotiation engine driven by the transaction engine generating bids and counter bids and computing a single value for a bid by adjusting the numerical value using the weighting factor and summing the adjusted values, the single numerical value being used to determine whether to accept the bid or not; and

(i) causing the transaction engine to initiate or conduct e-commerce negotiations using the negotiation engine programmed with the selected negotiation profile.

6. A method according to claim 5, further comprising the step of using an intermediate software agent between the buyers and the or each seller, for negotiating a contract between the or each seller and the collective buyers.

7. A method according to claim 5, in which each software agent comprises a transaction engine;

a negotiation engine driven by the transaction engine; and

a store of a plurality of negotiation profiles; and

means responsive to the commercial situation or state of the party to select an optimal negotiation profile appropriate to that situation or state, and to cause the transaction engine to initiate or conduct e-commerce negotiations using the negotiation engine programmed with the selected negotiation profile.

8. A method according to claim 5, further comprising the step of providing each software agent as a component of a distributed architecture.

9. An intermediate re-selling software agent stored on a computer readable medium, the intermediate reselling software agent being for use on an electronic network for negotiating contracts between at least one buyer and at least one seller, by purchasing from a seller and re-selling it to a buyer the intermediate re-selling software agent comprising:

(j) a store of a plurality of negotiation profiles each negotiation profile determining a different set of negotiation characteristics and requirements including a mapping for converting qualitative attributes for a part of a bid into numerical values representing the qualitative attributes and a weighting factor for each part of a bid;

(k) a transaction engine;

responsive to the commercial situation or state of the party to select an optimal negotiation profile appropriate to that situation or state;

(l) a negotiation engine driven by the transaction engine that is able to generate bids and counter bids and is further adapted to compute a single value for a bid by adjusting the numerical value using the weighting factor and summing the adjusted values, the single numerical value being used to determine whether to accept the bid or not; and

(m) means adapted to cause the transaction engine to initiate or conduct e-commerce negotiations using the negotiation engine programmed with the selected negotiation profile.

10. An intermediate re-selling software agent according to claim 9, which is a component of a distributed architecture.

11. An intermediate negotiation system for e-commerce comprising

(a) multiple software agents capable of being engaged by buyers and/or sellers, each software agent comprising:

(i) a store of a plurality of negotiation profiles each negotiation profile determining a different set of negotiation characteristics and requirements including a mapping for converting qualitative attributes for a part of a bid into numerical values representing the qualitative attributes and a weighting factor for each part of a bid;

(ii) a transaction engine responsive to the commercial situation or state of the party to select an optimal negotiation profile appropriate to that situation or state;

(iii) a negotiation engine driven by the transaction engine that is able to generate bids and counter bids and is further adapted to compute a single value for a bid by adjusting the numerical value using the weighting factor and summing the adjusted values, the single numerical value being used to determine whether to accept the bid or not; and

(iv) means adapted to cause the transaction engine to initiate or conduct e-commerce negotiations using the negotiation engine programmed with the selected negotiation profile

the intermediate negotiation system further comprising;

(b) interface means for negotiating contracts between respective agents of at least one buyer and at least one seller.

12. An intermediate negotiation system according to claim 11, arranged to conduct an automated reverse auction on an electronic network using software agents for buyers and sellers.

13. A system according to claim 11, further comprising each software agent as a component of a distributed architecture.

14. An intermediate negotiation system according to claim 11, wherein the intermediate negotiation system is a component of a distributed architecture.

15. A system for performing automated reverse auction comprising:

(a) means including a first software agent, the first software agent comprising;

(i) a store of a plurality of negotiation profiles each negotiation profile determining a different set of negotiation characteristics and requirements including a mapping for converting qualitative attributes for a part of a bid into numerical values representing the qualitative attributes and a weighting factor for each part of a bid;

(ii) a transaction engine responsive to the commercial situation or state of the party to select the optimal negotiation profile appropriate to that situation or state;

(iii) a negotiation engine driven by the transaction engine that is able to generate bids and counter bids and is further adapted to compute a single value for a bid by adjusting the numerical value using the weighting factor and summing the adjusted values, the single numerical value being used to determine whether to accept the bid or not; and

(iv) control means adapted to cause the transaction engine to initiate or conduct e-commerce negotiations using the negotiation engine programmed with the selected negotiation profile, receiving a request for a service from a buyer;

the first software agent requesting negotiation for provision of the service with at least one other agent; and

the first software agent responding to a proposal for providing provision of the service from a second agent.

16. A system according to claim 15, in which each means including a software agent is a component of a distributed architecture.

17. A system according to claim 15, in which the software is implemented as FIPA open source.

18. A method for performing automated reverse auction comprising the steps of:

receiving a request for a service from a buyer;

a first software agent selecting an optimal negotiation profile appropriate to the commercial situation or state of the party the negotiation profile being selected from a store of a plurality of negotiation profiles each negotiation profile determining a different set of negotiation characteristics and requirements including a mapping for converting qualitative attributes for a part of a bid into numerical values representing the qualitative attributes and a weighting factor for each part of a bid; and

initiating or conducting e-commerce negotiations using a negotiation engine programmed with the selected negotiation profile to generate bids and counter bids

and is further adapted to compute a single value for a bid by adjusting the numerical value using the weighting factor and summing the adjusted values, the single numerical value being used to determine whether to accept the bid or not, by

(a) requesting negotiation for provision of the service with at least one other agent; and

(b) responding to a proposal for providing provision of the service from a second agent.