METHOD OF COMMUNITY PURCHASING THROUGH THE INTERNET

  • US 20060184384A1
  • Filed: 04/27/2006
  • Published: 08/17/2006
  • Est. Priority Date: 01/24/2001
  • Status: Active Grant
First Claim
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1. A computer implemented collective purchasing method over a network or Internet, comprising:

  • generating a product database implemented in a computer environment including at least one product record, wherein each product record is associated with a product;

    pooling a number of buys at a preset fixed price from users for the product associated with the at least one product record, wherein each buy is a commitment to complete a purchase transaction and wherein the number of buys provides a collective demand for the product such that the buys are non-competitive with each other;

    updating the at least one product record to record the number of buys for the product associated with the specific product record; and

    consummating the purchase transaction if the number of buys for the product associated with the at least one product record reaches a preset minimum number of buys.

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