Method and computer medium for facilitating a buyer-initiated feature within a business transaction

• US 8,219,460 B1
• Filed: 02/11/2010
• Issued: 07/10/2012
• Est. Priority Date: 08/28/2002
• Status: Expired due to Fees

• Current Assignee: Valentine Communications LLC
• Original Assignee: Ewinwin Incorporated
• Inventors: Mesaros, Gregory J.
• Primary Examiner(s): Allen, Will
• Application Number:
  US12/704,280
• Time in Patent Office: 880 Days
• Field of Search: 705 261- 272
• US Class Current: 705/26.4
• CPC Class Codes: G06Q 10/083 Shipping
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0621 Item configuration or customization
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and method for conducting electronic business between buyers and sellers is provided. The system and method disclose a means for at least one buyer to request and receive online bids from one or more sellers of a particular product according to a price curve or price schedule. A price schedule or curve for a product defining a product'"'"'s unit price as a function of the volume of product ordered. Upon receipt of a plurality of bids from sellers, a buyer can then select a seller-supplier based at least in part on the price schedule.

Claims

1. A non-transitory computer readable storage medium that facilitates a buyer-initiated feature within a business transaction, the medium having embodied thereon instructions executable by a processor to:

construct a virtual forum based upon a request for bids associated with an offer for purchase of a product or service;

receive a response to the request, wherein the response includes a price with a price per unit for the product or service specified as a function of volume;

configure the virtual forum to display in real time at least a current low price per unit at a plurality of volume tiers; and

identify a set of minimum inputs based upon information received from a class of suppliers, wherein the set of minimum inputs is specific to the product or service and selectable as buyer criteria by a potential buyer in connection with the request for bids.

2. The non-transitory computer readable storage medium of claim 1, wherein the virtual forum facilitates communication between at least one potential buyer and at least one potential seller.

3. The non-transitory computer readable storage medium of claim 1, wherein the request is received from the potential buyer.

4. The non-transitory computer readable storage medium of claim 1, wherein the request includes at least one buyer criterion.

5. The non-transitory computer readable storage medium of claim 4, wherein the at least one buyer criterion relates to an attribute associated with the product or service other than price or volume.

6. The non-transitory computer readable storage medium of claim 4, wherein the at least one buyer criterion is selected from the set of minimum inputs defined by a system administrator.

7. The non-transitory computer readable storage medium of claim 4, wherein the at least one buyer criterion is defined by a potential buyer and differs from any minimum inputs defined by a class of sellers or registered sellers of the product or service.

8. The non-transitory computer readable storage medium of claim 7, further comprising instructions executable by a processor to configure the virtual forum to inform a potential seller of the at least one buyer criterion that differs from any minimum inputs defined by a class of sellers or registered sellers of the product or service.

9. The non-transitory computer readable storage medium of claim 1, further comprising instructions executable by a processor to configure the virtual forum to inform a potential seller of criteria associated with the product or service specified by other potential sellers.

10. The non-transitory computer readable storage medium of claim 1, further comprising instructions executable by a processor to configure the virtual forum to display in real time at least a price per unit specified as a function of volume for each responding seller or for each of a subset of responding sellers.

11. A method for facilitating a buyer-initiated feature within a business transaction, comprising:

configuring a virtual forum for receiving, at a server, from a potential buyer a request for bids in connection with a purchase offer for a product or service;

electronically receiving at the server, by way of the virtual forum, at least one bid from a set of bidding suppliers;

updating the virtual forum in real time to present at least a lowest price per unit at a plurality of volume tiers based upon information included in the at least one bid at the server, wherein the information includes a price with a price per unit for the good or service specified as a function of volume; and

identifying a set of minimum inputs based upon information received from a class of suppliers, wherein the set of minimum inputs is specific to the product or service and selectable as buyer criteria by the potential buyer in connection with the request for bids.

12. The method of claim 11, further comprising updating the virtual forum in real time to present at least a price per unit indicated by each member of the set of bidding suppliers, or a subset thereof.

13. The method of claim 11, further comprising notifying a supplier from the set of bidding suppliers of at least one buyer criterion that does not match any element of the set of minimum inputs.

14. The method of claim 11, further comprising notifying a supplier from the set of bidding suppliers of at least one seller criterion, specified by a disparate supplier, that does not match any element of the set of minimum inputs.

15. A method for facilitating a buyer-initiated feature within a business transaction, comprising:

configuring a virtual forum for receiving a request for bids in connection with a purchase offer for a product or service;

electronically receiving by way of the virtual forum, at least one bid from a set of bidding sellers of the product or service;

populating, by a server, the virtual forum in real time with at least a lowest price per unit at a plurality of volume tiers from data included in the at least one bid, wherein the data includes a price with a price per unit for the good or service specified as a function of volume; and

establishing a set of minimum inputs based upon information received from a class of suppliers, wherein the set of minimum inputs is specific to the product or service and is selectable as buyer criteria in the request for bids.

16. The method of claim 15, further comprising populating the virtual forum in real time with at least a price per unit associated with each member of the set of bidding sellers, or a subset thereof.

17. The method of claim 15, further comprising informing a seller from the set of bidding sellers of at least one buyer criterion that does not match any member of the set of minimum inputs.

18. The method of claim 15, further comprising informing a seller from the set of bidding sellers of at least one seller criterion that is specified by a disparate seller and does not match any member of the set of minimum inputs.