Methods and apparatus for facilitating transactions

• US 7,577,582 B1
• Filed: 01/28/2000
• Issued: 08/18/2009
• Est. Priority Date: 09/21/1999
• Status: Expired due to Fees

• Current Assignee: Nextag Incorporated
• Original Assignee: Nextag Incorporated
• Inventors: Schmidt, Franklin Richard, Ojha, Purnendu Shekhar
• Primary Examiner(s): Pond; Robert M.
• Application Number:
  US09/493,750
• Time in Patent Office: 3,490 Days
• Field of Search: 705 26- 27, 705/80, 705/37, 705/35, 705/39, 705/40
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

Methods and apparatus are described for facilitating transactions in a wide area network. Information relating to a transaction between a first party and a second party is provided to a third party via the wide area network. The third party is then enabled to facilitate consummation of the transaction between the first and second parties via the wide area network. According to a specific embodiment, the information includes a bid price associated with the first party and an ask price associated with the second party, the third party being enabled to cover at least part of a difference between the bid and ask prices via the wide area network.

Claims

1. A method of facilitating server-implemented transactions in a wide area network between a first party and one or more second parties, the method comprising:

providing by a transaction server an ask price for a particular product to a first party, wherein the ask price is associated with a particular second party;

submitting by the first party a bid price for the particular product of the particular second party in response to receiving the ask price, wherein the bid price is lower than the ask price;

providing by the transaction server information relating to a transaction between the first party and the particular second party to a third party'"'"'s computer via the wide area network, the information including the bid price associated with the first party and the ask price associated with the particular second party, wherein any interested entity facilitates consummation of the transaction as the third party via the wide area network; and

transmitting a response from the third party'"'"'s computer to the transaction server after receiving the bid price and the ask price, the response from the third party one of;

a counteroffer wherein the counteroffer covers at least part of a first difference between the bid price and the ask price, wherein the transaction server transmits the counteroffer to the first party as an ask price; and

an acceptance wherein the acceptance covers the difference between the bid price and the ask price, wherein the transaction server terminates negotiations with one or more second parties for the particular product and completes the transaction.

2. The method of claim 1 further comprising notifying the second party of the counteroffer transmitted to the first party via the wide area network.

3. The method of claim 1 further comprising notifying the second party of the acceptance transmitted to the first party via the wide area network.

4. The method of claim 1 wherein providing the information comprises transmitting a web page to the third party via the wide area network, an entry in the web page corresponding to the transaction between the first and second parties.

5. The method of claim 4 wherein transmitting a response from the third party'"'"'s computer comprises providing at least one active object in the web page associated with the entry.

6. The method of claim 5 wherein the at least one active object comprises an acceptance button, activation of the acceptance button resulting in transmission of the acceptance to the first party via the wide area network.

7. The method of claim 5 wherein the at least one active object comprises a counteroffer button, activation of the counteroffer button resulting in transmission of the counteroffer to the first party via the wide area network.

8. The method of claim 5 wherein at least one active object comprises an acceptance button, activation of the acceptance button resulting in transmission of the acceptance to the second party via the wide area network.

9. The method of claim 5 wherein at least one active object comprises a counteroffer button, activation of the counteroffer button resulting in transmission of the counteroffer to the second party via the wide area network.

10. The method of claim 1 wherein providing the information comprises filtering current system bids according to at least one criterion specified by the third party.

11. The method of claim 10 wherein the current system bids each have a second bid price and a second ask price associated therewith, the at least one criterion including at least one of a product category, a product seller, and a spread which is compared with a second difference between the second bid price and the second ask price for each current system bid.

12. The method of claim 1 further comprising enabling the third party to facilitate consummation of the transaction by enabling the third party to specify at least one business rule for automatically responding to system bids via the wide area network.

13. The method of claim 12 wherein enabling the third party to specify the at least one business rule comprises providing a plurality of criteria to the third party via the wide area network, the at least one business rule corresponding to a subset of the criteria specified by the third party.

14. The method of claim 13 wherein the plurality of criteria includes at least one of a product identifier, a merchant identifier, a number of units being bid, a buyer reputation indicator, and whether an identified merchant has an identified product in stock.

15. The method of claim 12 wherein enabling the third party to specify the at least one business rule comprises providing a plurality of response options to the third party via the wide area network, the at least one business rule corresponding to a subset of the response options specified by the third party.

16. The method of claim 15 wherein the plurality of response options includes at least one of communicate the acceptance and communicate the counteroffer.

17. The method of claim 12 further comprising controlling implementation of the at least one business rule with reference to at least one other business rule associated with the second party.

18. The method of claim 17 wherein controlling implementation of the at least one business rule comprises implementing the at least one other business rule before implementing the at least one business rule.

19. The method of claim 17 wherein controlling implementation of the at least one business rule comprises waiting a predetermined time period before implementing at least one business rule.

20. The method of claim 1 further comprising enabling a fourth party to facilitate consummation of the transaction between the first and second parties in conjunction with the third party via the wide area network.

21. The method of claim 20 wherein enabling the fourth party to facilitate consummation of the transaction comprises enabling the fourth party to cover a remainder portion of the first difference.

22. The method of claim 1 wherein the information includes an identifier identifying the transaction as relating to a product which is part of a mutually exclusive bid group defined by one of the first and second parties.

23. The method of claim 22 wherein enabling the third party to facilitate consummation of the transaction comprises enabling the third party to specify at least one business rule for automatically responding to system bids via the wide area network, the at least one business rule relating to the identifier.

24. The method of claim 1 further comprising notifying the first party of the counteroffer transmitted to the second party via the wide area network.

25. The method of claim 1 further comprising notifying the first party of the acceptance transmitted to the second party via the wide area network.

26. A computer program product for facilitating transactions in a wide area network between a first party and one or more second parties, comprising:

at least one computer readable medium; and

computer program instructions stored in the at least one computer readable medium for causing at least a transaction server to;

provide an ask price for a particular product to a first party, wherein the ask price is associated with a particular second party;

submit by the first party a bid price for the particular product of the particular second party in response to receiving the ask price, wherein the bid price is lower than the ask price;

provide information relating to a transaction between the first party and the particular second party to a third party'"'"'s computer via the wide area network, the information including the bid price associated with the first party and the ask price associated with the particular second party, wherein any interested entity facilitates consummation of the transaction as the third party via the wide area network; and

transmitting a response from the third party'"'"'s computer to the transaction server after receiving the bid price and the ask price, the response from the third party one of;

a counteroffer wherein the counteroffer covers at least part of a first difference between the bid price and the ask price, wherein the transaction server transmits the counteroffer to the first party as an ask price; and

an acceptance wherein the acceptance covers the difference between the bid price and the ask price, wherein the transaction server terminates negotiations with one or more second parties for the particular product and completes the transaction.

27. A method of facilitating server-implemented transactions in a wide area network between a first party and one or more second parties, the method comprising:

providing by a transaction server an ask price for a particular product to a first party, wherein the ask price is associated with a particular second party;

submitting by the first party a bid price for the particular product of the particular second party in response to receiving the ask price, wherein the bid price is lower than the ask price;

selectively providing by the transaction server information relating to a plurality of bids on a transaction site to a third party'"'"'s computer via the wide area network, a first one of the bids involving the first party and the second party, the first bid including the bid price associated with the first party and the ask price associated with the particular second party, wherein any interested entity facilitates consummation of the transaction as the third party via the wide area network;

transmitting a response from the third party'"'"'s computer to the transaction server after receiving the bid price and the ask price, the response from the third party one of;

a counteroffer wherein the counteroffer covers at least part of a first difference between the bid price and the ask price, wherein the transaction server transmits the counteroffer to the first party as an ask price; and

an acceptance wherein the acceptance covers the difference between the bid price and the ask price, wherein the transaction server terminates negotiations with one or more second parties for the particular product and completes the transaction; and

notifying the other of the first party or the second party of the response via the wide area network.

28. A method of facilitating server-implemented transactions in a wide area network between a first party and one or more second parties, the method comprising:

providing by a transaction server an ask price for a particular product to a first party, wherein the first ask price is associated with a particular second party;

submitting by the first party a bid price for the particular product of the particular second party in response to receiving the first ask price, wherein the bid price is lower than the ask price;

providing by the transaction server information relating to a plurality of bids on a transaction site to a third party'"'"'s computer via the wide area network, the information being of a real-time nature and including the bid price associated with the first party and the ask price associated with the particular second party, wherein the information further comprises one or more of real-time offers, ask prices, counteroffers, time in which offers and counteroffers are made, number and trend of completed transactions, number and trend of incomplete transactions, and transactional history, wherein any interested entity facilitates consummation of the transaction as the third party via the wide area network; and

transmitting a response from the third party'"'"'s computer to the transaction server after receiving the bid price and the ask price, the response from the third party one of;

a counteroffer wherein the counteroffer covers at least part of a first difference between the bid price and the ask price, wherein the transaction server transmits the counteroffer to the first party as an ask price; and

an acceptance wherein the acceptance covers the difference between the bid price and the ask price, wherein the transaction server terminates negotiations with one or more second parties for the particular product and completes the transaction.

29. The method of claim 28 further comprising presenting the information transmitted to a third party in a geographical format, allowing the third party to configure and adjust the presentation of the information.

30. The method of claim 28 further comprising notifying non-transactional parties via the wide area network, of buyer'"'"'s completed and planned transactions at buyer'"'"'s discretion.

31. The method of claim 28 further comprising automatic generating of a value indicative of a specific buyer'"'"'s reputation, and providing the value via the wide area network to sellers and third parties involved in the transaction.