System and method for establishing and managing subscription purchase agreements including commitments to purchase goods over time at agreed upon prices

DC
  • US 5,970,470 A
  • Filed: 07/08/1997
  • Issued: 10/19/1999
  • Est. Priority Date: 07/08/1997
  • Status: Expired due to Term
First Claim
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1. A system for facilitating the sale of an item, comprising:

  • a data storage system storing data about a buyer, an agreement between said buyer and a seller including a commitment by said buyer to purchase a specified plural of a item from said seller over a period of time and at a specified price; and

    a data processing system coupled to said data storage system and configuredto receive from said buyer a request to purchase said item from said seller,to process said request by determining a purchase price for said item based on said specified price in said agreement,to output said purchase price, said purchase price forming the basis of a transaction involving said buyer and said item, andto charge a fee to an account maintained by said buyer if said buyer does not purchase said specified plurality of said item during said period of time.

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