System and method for motivating submission of conditional purchase offers

• US 6,041,308 A
• Filed: 12/04/1998
• Issued: 03/21/2000
• Est. Priority Date: 09/04/1996
• Status: Expired due to Fees

• Current Assignee: Priceline Com Incorporated (Booking Holdings, Inc., fka Priceline Group Inc.)
• Original Assignee: Priceline Com Incorporated (Booking Holdings, Inc., fka Priceline Group Inc.)
• Inventors: Hartmann, Tracy, Tedesco, Daniel E., Walker, Jay S., Case, T. Scott
• Primary Examiner(s): Macdonald, Allen R.
• Assistant Examiner(s): CAUDLE, PENNY L
• Application Number:
  US09/205,787
• Time in Patent Office: 473 Days
• Field of Search: 705/14, 705/1, 705/5, 705/13, 705/15, 705/26, 705/27, 705/37, 705/35, 705/38, 295/226, 295/228, 295/236, 295/237, 295/239, 340/825.3
• US Class Current: 705/14.1
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G07F 9/026 for alarm, monitoring and auditing in vending machines or means for indication, e.g. when empty
• CPC Class Codes: G07G 1/00 Cash registers alarm indicators G07G3/00

Abstract

A system and method are disclosed for encouraging buyers to submit CPOs to a CPO management system for a desired product. The CPO management system processes each received CPO to determine whether one or more sellers are willing to accept a given CPO. The disclosed CPO management system compensates buyers if the buyer'"'"'s conditional purchase offer is rejected, or expires before an acceptance is received. If a CPO is rejected by the sellers, or has expired before an acceptance is received, the CPO management system evaluates one or more stored compensation offers to determine if the buyer is eligible for rejection compensation. The compensation offers may optionally require that the conditional purchase offer satisfies one or more additional predefined eligibility criteria. If the predefined criteria is met, the rejection compensation is provided to the buyer. The rejection compensation can include, for example, (i) a cash award, (ii) a prize, or (iii) a coupon or credit that may be redeemed for a discount against future transactions, thereby encouraging future use.

Claims

1. A method of using a computer to compensate buyers who make conditional purchase offers, comprising:

receiving, using a computer, a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensating said buyer if said conditional purchase offer is not accepted by a seller.

4. The method according to claims 1, 9 or 12, wherein processing said conditional purchase offer comprises providing said conditional purchase offer to a plurality of potential sellers of said product.

5. The method according to claims 1, 2 or 3, wherein processing said conditional purchase offer comprises identifying one or more rules from a plurality of potential sellers, each of said rules containing one or more seller-defined restrictions.

6. The method according to claims 1, 2 or 3, wherein said buyer may be compensated with a rejection compensation selected from the group comprising (i) a cash award, (ii) a prize, or (iii) a coupon or credit that may be redeemed for a discount against a future sale.

7. The method according to claims 1, 2 or 3, wherein said conditional purchase offer further includes a payment identifier for specifying an account from which funds may be paid.

8. The method according to claim 7, further comprising using said payment identifier to pay a penalty if said buyer does not complete said sale.

9. The method according to claim 7, wherein said funds are paid from a general-purpose account.

10. The method according to claims 1, 2 or 3, wherein said conditional purchase offer is a binding conditional purchase offer.

2. A method of using a computer to compensate buyers who make conditional purchase offers, comprising:

receiving, using a computer, a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

preventing said buyer from identifying an acceptable seller price; and

compensating said buyer if said conditional purchase offer is not accepted by a seller.

11. The method according to claim 2, wherein preventing said buyer from identifying said acceptable seller price comprises requiring said buyer to submit a binding conditional purchase offer.

12. The method according to claim 2, wherein preventing said buyer from identifying said acceptable seller price comprises preventing said buyer from submitting multiple conditional purchase offers.

3. A method of using a computer to compensate buyers who make conditional purchase offers, comprising:

receiving, using a computer, a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensating said buyer if said conditional purchase offer is not accepted by a seller; and

maintaining the anonymity of said seller until said conditional purchase offer is accepted.

13. A method of using a computer to compensate buyers who make conditional purchase offers, comprising:

receiving, using a computer, a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria;

wherein said predefined criteria includes a minimum offer price.

17. The method according to claims 13, 14, 15 or 16, wherein processing said conditional purchase offer comprises providing said conditional purchase offer to a plurality of potential sellers of said product.

18. The method according to claims 13, 14, 15 or 16, wherein processing said conditional purchase offer comprises identifying one or more rules from a plurality of potential sellers, each of said rules containing one or more seller-defined restrictions.

19. The method according to claims 13, 14, 15 or 16, wherein said buyer may be compensated with a rejection compensation selected from the group comprising (i) a cash award, (ii) a prize, or (iii) a coupon or credit that may be redeemed for a discount against a future sale.

20. The method according to claims 13, 14, 15 or 16, wherein said conditional purchase offer further includes a payment identifier for specifying an account from which funds may be paid.

21. The method according to claim 20, further comprising using said payment identifier to pay a penalty if said buyer does not complete said sale.

22. The method according to claim 20, wherein said funds are paid from a general-purpose account.

23. The method according to claims 13, 14, 15 or 16, wherein said conditional purchase offer is a binding conditional purchase offer.

14. A method of using a computer to compensate buyers who make conditional purchase offers, comprising:

receiving, using a computer, a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria.

15. A method of using a computer to compensate buyers who make conditional purchase offers, comprising:

receiving, using a computer, a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

preventing said buyer from identifying an acceptable seller price.

24. The method according to claim 15, wherein preventing said buyer from identifying said acceptable seller price comprises requiring said buyer to submit a binding conditional purchase offer.

25. The method according to claim 15, wherein preventing said buyer from identifying said acceptable seller price comprises preventing said buyer from submitting multiple conditional purchase offers.

16. A method of using a computer to compensate buyers who make conditional purchase offers, comprising:

receiving, using a computer, a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

maintaining the anonymity of said seller until said conditional purchase offer is accepted.

26. A system for compensating buyers who make conditional purchase offers, comprising:

a memory device; and

a processor in communication with said memory device, said processor configured to;

receive a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

process said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensate said buyer if said conditional purchase offer is not accepted by a seller.

31. The system according to claims 26, 27 or 30, wherein processing said conditional purchase offer comprises providing said conditional purchase offer to a plurality of potential sellers of said product.

32. The system according to claims 26, 27 or 30, wherein processing said conditional purchase offer comprises identifying one or more rules from a plurality of potential sellers, each of said rules containing one or more seller-defined restrictions.

33. The system according to claims 26, 27 or 30, wherein said buyer may be compensated with a rejection compensation selected from the group comprising (i) a cash award, (ii) a prize, or (iii) a coupon or credit that may be redeemed for a discount against a future sale.

34. The system according to claims 26, 27 or 30, wherein said conditional purchase offer further includes a payment identifier for specifying an account from which funds may be paid.

35. The system according to claim 34, wherein said processor is further configured to use said payment identifier to pay a penalty if said buyer does not complete said sale.

36. The system according to claim 34, wherein said funds are paid from a general-purpose account.

37. The system according to claims 26, 27 or 30, wherein said conditional purchase offer is a binding conditional purchase offer.

27. A system for compensating buyers who make conditional purchase offers, comprising:

a memory device; and

a processor in communication with said memory device, said processor configured to;

receive a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

process said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

prevent said buyer from identifying an acceptable seller price; and

compensate said buyer if said conditional purchase offer is not accepted by a seller.

28. The system according to claim 27, wherein preventing said buyer from identifying said acceptable seller price comprises requiring said buyer to submit a binding conditional purchase offer.

29. The system according to claim 27, wherein preventing said buyer from identifying said acceptable seller price comprises preventing said buyer from submitting multiple conditional purchase offers.

30. A system for compensating buyers who make conditional purchase offers, comprising:

a memory device; and

a processor in communication with said memory device, said processor configured to;

receive a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

process said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensate said buyer if said conditional purchase offer is not accepted by a seller; and

maintain the anonymity of said seller until said conditional purchase offer is accepted.

38. A system for compensating buyers who make conditional purchase offers, comprising:

a memory device; and

a processor in communication with said memory device, said processor configured to;

receive a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

process said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensate said buyer if an unaccepted conditional purchase offer meets predefined criteria;

wherein said predefined criteria includes a minimum offer price.

44. The system according to claims 38, 39, 40 or 43, wherein processing said conditional purchase offer comprises providing said conditional purchase offer to a plurality of potential sellers of said product.

45. The system according to claims 38, 39, 40 and 43, wherein processing said conditional purchase offer comprises identifying one or more rules from a plurality of potential sellers, each of said rules containing one or more seller-defined restrictions.

46. The system according to claims 38, 39, 40 or 43, wherein said buyer may be compensated with a rejection compensation selected from the group comprising (i) a cash award, (ii) a prize, or (iii) a coupon or credit that may be redeemed for a discount against a future sale.

47. The system according to claims 38, 39, 40 or 43, wherein said conditional purchase offer further includes a payment identifier for specifying an account from which funds may be paid.

48. The system according to claim 47, wherein said processor is further configured to use said payment identifier to pay a penalty if said buyer does not complete said sale.

49. The system according to claim 47, wherein said funds are paid from a general-purpose account.

50. The system according to claims 38, 39, 40 or 43, wherein said conditional purchase offer is a binding conditional purchase offer.

39. A system for compensating buyers who make conditional purchase offers, comprising:

a memory device; and

a processor in communication with said memory device, said processor configured to;

receive a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

process said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensate said buyer if an unaccepted conditional purchase offer meets predefined criteria.

40. A system for compensating buyers who make conditional purchase offers, comprising:

a memory device; and

a processor in communication with said memory device, said processor configured to;

receive a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

process said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensate said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

prevent said buyer from identifying an acceptable seller price.

41. The system according to claim 40, wherein preventing said buyer from identifying said acceptable seller price comprises requiring said buyer to submit a binding conditional purchase offer.

42. The system according to claim 40, wherein preventing said buyer from identifying said acceptable seller price comprises preventing said buyer from submitting multiple conditional purchase offers.

43. A system for compensating buyers who make conditional purchase offers, comprising:

a memory device; and

a processor in communication with said memory device, said processor configured to;

receive a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

process said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensate said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

maintain the anonymity of said seller until said conditional purchase offer is accepted.

51. A system for compensating buyers who make conditional purchase offers, comprising:

means for receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

means for processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

means for compensating said buyer if said conditional purchase offer is not accepted by a seller.

56. The system according to claims 51, 52, or 55, wherein said means for processing said conditional purchase offer comprises means for providing said conditional purchase offer to a plurality of potential sellers of said product.

57. The system according to claims 51, 52 or 55, wherein said means for processing said conditional purchase offer comprises means for identifying one or more rules from a plurality of potential sellers, each of said rules containing one or more seller-defined restrictions.

58. The system according to claims 51, 52 or 55, wherein said buyer may be compensated with a rejection compensation selected from the group comprising (i) a cash award, (ii) a prize, or (iii) a coupon or credit that may be redeemed for a discount against a future sale.

59. The system according to claims 51, 52 or 55, wherein said conditional purchase offer further includes a payment identifier for specifying an account from which funds may be paid.

60. The system according to claims 51, 52 or 55 wherein said conditional purchase offer is a binding conditional purchase offer.

52. A system for compensating buyers who make conditional purchase offers, comprising:

means for receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

means for processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

means for preventing said buyer from identifying an acceptable seller price; and

means for compensating said buyer if said conditional purchase offer is not accepted by a seller.

53. The system according to claim 52, wherein said means for preventing said buyer from identifying said acceptable seller price comprises means for requiring said buyer to submit a binding conditional purchase offer.

54. The system according to claim 52, wherein said means for preventing said buyer from identifying said acceptable seller price comprises means for preventing said buyer from submitting multiple conditional purchase offers.

55. A system for compensating buyers who make conditional purchase offers, comprising:

means for receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

means for processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

means for compensating said buyer if said conditional purchase offer is not accepted by a seller; and

means for maintaining the anonymity of said seller until said conditional purchase offer is accepted.

61. A system for compensating buyers who make conditional purchase offers, comprising:

means for receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

means for processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

means for compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria;

wherein said predefined criteria includes a minimum offer price.

62. A system for compensating buyers who make conditional purchase offers, comprising:

means for receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

means for processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

means for compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria.

63. A system for compensating buyers who make conditional purchase offers, comprising:

means for receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

means for processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

means for compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

means for preventing said buyer from identifying an acceptable seller price.

64. A system for compensating buyers who make conditional purchase offers, comprising:

means for receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

means for processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

means for compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

means for maintaining the anonymity of said seller until said conditional purchase offer is accepted.

65. A computer device comprising:

a computer readable medium having computer readable program means embodied therein, said computer readable program means for;

receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensating said buyer if said conditional purchase offer is not accepted by a seller.

66. A computer device comprising:

a computer readable medium having computer readable program means embodied therein, said computer readable program means for;

receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

preventing said buyer from identifying an acceptable seller price; and

compensating said buyer if said conditional purchase offer is not accepted by a seller.

67. A computer device comprising:

a computer readable medium having computer readable program means embodied therein, said computer readable program means for;

receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensating said buyer if said conditional purchase offer is not accepted by a seller; and

maintaining the anonymity of said seller until said conditional purchase offer is accepted.

68. A computer device comprising:

a computer readable medium having computer readable program means embodied therein, said computer readable program means for;

receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria;

wherein said predefined criteria includes a minimum offer price.

69. A computer device comprising:

a computer readable medium having computer readable program means embodied therein, said computer readable program means for;

receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition and a variable condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller; and

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria.

70. A computer device comprising:

a computer readable medium having computer readable program means embodied therein, said computer readable program means for;

receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

preventing said buyer from identifying an acceptable seller price.

71. A computer device comprising:

a computer readable medium having computer readable program means embodied therein, said computer readable program means for;

receiving a conditional purchase offer from a buyer for a product, said conditional purchase offer containing at least one buyer-defined condition;

processing said conditional purchase offer to determine if said conditional purchase offer is accepted by a seller;

compensating said buyer if an unaccepted conditional purchase offer meets predefined criteria; and

maintaining the anonymity of said seller until said conditional purchase offer is accepted.