Method, system, and medium for conducting barter transactions
First Claim
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1. A method for conducting barter transactions between parties, comprising:
- receiving one or more barter listings each including one or more items sought to be traded and one or more descriptions of one or more items sought to be acquired;
searching, using a computer processor, for at least one first item from the one or more barter listings;
creating a barter offer including a request to exchange the at least one first item from the first party for at least one second item from a second party;
generating a first reserve request for the at least one second item and preventing the second party from both entering into other barter offers and from cancelling the first reserve request until the first party confirms or rejects the first reserve request or a first predetermined period of time expires;
generating a second reserve request to exchange the at least one second item in for at least one third item, wherein the second reserve request is generated for a third party and queued behind the first reserve request;
if the first party confirms the first reserve request, notifying the second party of the completion of the barter offer; and
if the first party rejects the first reserve request or the first predetermined period of time expires, notifying the second party of second reserve request and preventing the third party from both entering into other barter offers and from cancelling the second reserve request until the second party confirms or rejects the second reserve request or a second predetermined period of time expires.
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Abstract
Method and system for bartering between trade parties each having one or more items available for barter, via a communications network. Items available for trade are listed and the parties can browse and search the lists to locate items they want to acquire and items they have available to trade. Each party can make an offer to trade with another party subject to various conditions and requirements relating to, for example, a requirement to maintain an item offered for trade available for a certain period of time.
20 Citations
30 Claims
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1. A method for conducting barter transactions between parties, comprising:
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receiving one or more barter listings each including one or more items sought to be traded and one or more descriptions of one or more items sought to be acquired; searching, using a computer processor, for at least one first item from the one or more barter listings; creating a barter offer including a request to exchange the at least one first item from the first party for at least one second item from a second party; generating a first reserve request for the at least one second item and preventing the second party from both entering into other barter offers and from cancelling the first reserve request until the first party confirms or rejects the first reserve request or a first predetermined period of time expires; generating a second reserve request to exchange the at least one second item in for at least one third item, wherein the second reserve request is generated for a third party and queued behind the first reserve request; if the first party confirms the first reserve request, notifying the second party of the completion of the barter offer; and if the first party rejects the first reserve request or the first predetermined period of time expires, notifying the second party of second reserve request and preventing the third party from both entering into other barter offers and from cancelling the second reserve request until the second party confirms or rejects the second reserve request or a second predetermined period of time expires. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A non-transitory computer readable medium comprising instructions which when executed by a computer cause the computer to perform the following steps:
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receiving one or more barter listings each including one or more items sought to be traded and one or more descriptions of one or more items sought to be acquired; searching, using a computer processor, for at least one first item from the one or more barter listings; creating a barter offer including a request to exchange the at least one first item from the first party for at least one second item from a second party; generating a first reserve request for the at least one second item and preventing the second party from both entering into other barter offers and from cancelling the first reserve request until the first party confirms or rejects the first reserve request or a first predetermined period of time expires; generating a second reserve request to exchange the at least one second item in for at least one third item, wherein the second reserve request is generated for a third party and queued behind the first reserve request; if the first party confirms the first reserve request, notifying the second party of the completion of the barter offer; if the first party rejects the first reserve request or the first predetermined period of time expires, notifying the second party of second reserve request and preventing the third party from both entering into other barter offers and from cancelling the second reserve request until the second party confirms or rejects the second reserve request or a second predetermined period of time expires. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A system for conducting barter transactions between parties, comprising:
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one or more computer processors; one or more computer-readable memory connected to the one or more computer processors, wherein the one or more memory is configured to; receive one or more barter listings each including one or more items sought to be traded and one or more descriptions of one or more items sought to be acquired; search for at least one first item from the one or more barter listings; create a barter offer including a request to exchange the at least one first item from the first party for at least one second item from a second party; generate a first reserve request for the at least one second item and preventing the second party from both entering into other barter offers and from cancelling the first reserve request until the first party confirms or rejects the first reserve request or a first predetermined period of time expires; generate a second reserve request to exchange the at least one second item in for at least one third item, wherein the second reserve request is generated for a third party and queued behind the first reserve request; if the first party confirms the first reserve request, notify the second party of the completion of the barter offer; and if the first party rejects the first reserve request or the first predetermined period of time expires, notify the second party of second reserve request and prevent the third party from both entering into other barter offers and from cancelling the second reserve request until the second party confirms or rejects the second reserve request or a second predetermined period of time expires. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30)
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Specification