Meta-marketplace method

• US 7,734,530 B1
• Filed: 12/01/2005
• Issued: 06/08/2010
• Est. Priority Date: 07/11/2005
• Status: Active Grant

• Current Assignee: AppOne, Inc. (Wolters Kluwer Nv)
• Original Assignee: AppOne Services, Inc. (Wolters Kluwer Nv)
• Inventors: Ramakrishnan, Parameswaran, Domingue, W. Lee Sr., Hagan, Riley III, Herndon, S. Chris
• Primary Examiner(s): Cheung; Mary
• Assistant Examiner(s): AMELUNXEN, BARBARA J
• Application Number:
  US11/164,688
• Time in Patent Office: 1,650 Days
• Field of Search: 705/1, 705/2, 705/3, 705/4, 705/10, 705/26, 705/27, 705/31, 705/34, 705/35, 705/36.R, 705/37, 705/38, 705/39, 707/3, 701/35
• US Class Current: 705/37
• CPC Class Codes: G06Q 10/101 Collaborative creation, e.g. joint development of products or services
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• 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 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 40/123 Tax preparation or submission

Abstract

The present invention is a method for handling multiple aspects of the acquisition of vehicles, such as automobiles and trucks, in a unified and streamlined fashion. A system for acquisition of vehicles that integrates various product and service providers with retailers and consumers is presented from various aspects in order to realize efficiencies and opportunities that are impossible in the present mode of vehicle acquisition.

Claims

1. A computer-implemented method of facilitating acquisition of a vehicle, comprising:

establishing connections with and operatively linking a retailer and a plurality of providers at a computer-implemented metamediary hub managed by a metamediary to create a computer-implemented metamarket infrastructure, the plurality of providers including at least one lender and at least one of a product and service provider, wherein the retailer is classified, and retailer selection criteria is established for at least one of the plurality of providers, the retailer selection criteria being based upon the retailer classification;

recording and integrating information required by the plurality of providers into the computer-implemented metamarket infrastructure by the computer-implemented metamediary hub;

establishing eligibility criteria received from at least one of the plurality of providers for at least one of a service and product offered by the plurality of providers via the computer-implemented metamediary hub;

receiving data associated with a consumer relevant to the acquisition of the vehicle from the retailer at the computer-implemented metamediary hub, the received data including all the information required by the plurality of providers;

comparing the received data to the eligibility criteria to determine eligibility for the at least one of the service and product offered by the plurality of providers via the computer-implemented metamediary hub;

generating an array of the at least one of the service and product for which the consumer is eligible via the computer-implemented metamediary hub;

forwarding the received data from the computer-implemented metamediary hub to the plurality of providers based on the array, and upon a decision thereon, establishing an approved subset of the at least one of the service and product for which the consumer is eligible via the computer-implemented metamediary hub;

completing at least one transaction based on at least one of the approved subset of the at least one of the service and product for which the consumer is eligible and available terms associated with the at least one of the service and product offered by one of the plurality of providers;

determining retailer integrity of the retailer via the computer-implemented metamediary hub; and

determining via the computer-implemented metamediary hub whether the metamediary should assume risk associated with the at least one transaction on behalf of the retailer.

2. The computer-implemented method of facilitating acquisition of a vehicle according to claim 1 further comprising:

recording and integrating information about the retailer into the metamarket infrastructure by the computer-implemented metamediary hub, wherein

establishment of the retailer selection criteria for at least one of the plurality of providers is performed via the computer-implemented metamediary hub; and

comparing the retailer selection criteria for the at least one of the plurality of providers with the information about the retailer at the computer-implemented metamediary hub to determine if the at least one of the plurality of providers will conduct business with the retailer.

3. The computer-implemented method of facilitating acquisition of a vehicle according to claim 1 further comprising:

establishing provider selection criteria for the retailer at the computer-implemented metamediary hub;

comparing the provider selection criteria with each of the plurality of providers at the computer-implemented metamediary hub to determine if the retailer will conduct business with each of the plurality of providers.

4. The computer-implemented method of facilitating acquisition of a vehicle according to claim 3, wherein each of the plurality of providers is classified, and the provider selection criteria is based upon the provider classification.

5. The computer-implemented method of facilitating acquisition of a vehicle according to claim 1, wherein the eligibility criteria is based upon at least one of the valuation of the vehicle, a vehicle loan value multiplier, provider priority, consumer credit, and consumer affordability.

6. The computer-implemented method of facilitating acquisition of a vehicle according to claim 1 further comprising:

monitoring the retailer and the plurality of providers at the computer-implemented metamediary hub to ensure that the computer-implemented metamediary hub has current data and offerings.

7. The computer-implemented method of facilitating acquisition of a vehicle according to claim 1 further comprising:

establishing approval criteria received from the at least one of the plurality of providers for the at least one of a service and product offered by the plurality of providers at the computer-implemented metamediary hub;

wherein the decision made via the computer-implemented metamediary hub to approve the at least one of the service and product for the consumer is based upon the data and the approval criteria.

8. A system of facilitating acquisition of a vehicle, comprising:

a metamediary hub configured to connect and operatively link a retailer and a plurality of providers within a metamarket managed by a metamediary, the plurality of providers including at least one lender and at least one of a product and service provider;

a computer-implemented application interface module operatively connected to the metamediary hub configured to;

receive eligibility criteria for at least one of a service and product offered by the plurality of providers; and

receive information required for the at least one of the service and product offered by the plurality of providers;

a retail management system module operatively connected to the metamediary hub configured to;

receive data associated with a consumer relevant to the acquisition of the vehicle from the retailer, the data including all the information required for the at least one of the service and product offered by the plurality of providers; and

complete at least one transaction based on at least one of an approved subset of the at least one of the service and product for which the consumer is eligible and available terms associated with the at least one of the service and product offered by one of the plurality of providers;

wherein the metamediary hub is further configured to;

record and integrate the information required for the at least one of the service and product offered by the plurality of providers into the metamarket infrastructure;

compare the received data to the eligibility criteria to determine eligibility for the at least one of the service and product offered by the plurality of providers;

generate an array of the at least one of the service and product for which the consumer is eligible;

forward the received data to the plurality of providers based upon the array, and establish an approved subset of the at least one of the service and product for which the consumer is eligible;

determine the available terms associated with the at least one of the service and product offered by the one of the plurality of providers;

classify the retailer, and establish retail selection criteria for at least one of the plurality of providers based upon a retailer classification; and

determine the integrity of the retailer, and determine whether the metamediary should assume risk associated with the at least one transaction on behalf of the retailer.

9. The system of facilitating acquisition of a vehicle according to claim 8, wherein the computer-implemented application interface module is further configured to receive the retailer selection criteria for at least one of the plurality of providers, and wherein the metamediary hub is further configured to record and integrate retailer information into the metamarket infrastructure and compare the retailer selection criteria for the at least one of the plurality of providers with the retailer information to determine if the at least one of the plurality of providers will conduct business with the retailer.

10. The system of facilitating acquisition of a vehicle according to claim 8, wherein the retail management system module is further configured to receive a provider selection criteria, and wherein the metamediary hub is further configured to compare the provider selection criteria to each of the plurality of providers to determine if the retailer will conduct business with each of the plurality of providers.

11. The system of facilitating acquisition of a vehicle according to claim 10, wherein the metamediary hub is further configured to classify each of the plurality of providers, and the provider selection criteria is based upon the provider classification.

12. The system of facilitating acquisition of a vehicle according to claim 8, wherein the eligibility criteria is based upon at least one of the valuation of the vehicle, a vehicle loan value multiplier, provider priority, consumer credit, and consumer affordability.

13. The system of facilitating acquisition of a vehicle according to claim 8 further comprising, a back-end module operatively connected to the metamediary hub configured to monitor the retailer and the plurality of providers to ensure that the metamediary has current data and offerings.

14. The system of facilitating acquisition of a vehicle according to claim 8, wherein the computer-implemented application interface module is further configured to receive approval criteria for the at least one of the service and product offered by the plurality of providers and wherein the metamediary hub is further configured to approve the consumer for the at least one of the service and product offered by the plurality of providers.