Systems and methods for transacting business over a global communications network such as the internet

DC CAFC
  • US 8,050,982 B2
  • Filed: 10/28/2005
  • Issued: 11/01/2011
  • Est. Priority Date: 06/29/1999
  • Status: Expired due to Fees
First Claim
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1. A system comprising multiple databases accessible by at least one computer server, wherein the system is programmed to perform the steps of a sales transaction, the steps comprising:

  • communicating via the global communication network to a buyer;

    receiving data representing a binding commitment from the buyer via the global communication network to purchase a product for a price that will be partially based upon the buyer'"'"'s participation in an auction and participation in a competitive activity that is in addition to placing bids in the auction and that is collateral to the price and associated with the product being purchased;

    wherein the competitive activity is required as part of the sales transaction; and

    using an algorithm to calculate the price of the product based at least partially upon the results of the participation of the buyer in the competitive activity and at least partially based on results of the auction;

    wherein the price is at least partially dependent on the outcome of the competitive activity.

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