Method and system for online sales and purchases

Abstract

Internet-based commercial network connects multiple qualified participant buyers and sellers. Items are made available for defined periods of time, referred to as an event (139). Event terms and conditions include item types, price, quantity, volume or units, discount, shipping terms (138). Reiterative offer and counteroffers permit negotiation of terms for an event. Participants may view anonymous competitive quotes for comparison and analysis. Pooled purchases and auctions are envisioned. Participants may create web presences and are subject to restrictions on access (141) and purchase (142) authority. Central system maintains participant data.

Description

CROSS REFERENCE TO RELATED APPLICATION[0001]This application is a division of U.S. application Ser. No. 10 / 399,196 filed Apr. 1, 2005 and naming as inventors Richard J. Solar, Oren L. Davis, Mirko Predosin, Diane L. Slonaker and Richard A. Russell and having the same title as this application, which was the U.S. National stage of, and claimed priority from, an international application No. PCT / US01 / 32180, filed Oct. 10, 2001, naming the above five inventors, and having the same title as this invention, that international application claimed priority from the U.S. provisional application, identically entitled, No. 60 / 239,141, filed Oct. 10, 2000, naming as inventors Oren L. Davis, Mirko Predosin, Diane L. Slonaker and Richard A. Russell. Priority from each of the above-identified earlier-filed applications is hereby claimed. Each of the above-identified, earlier-filed applications is hereby incorporated by reference.FIELD OF THE INVENTION[0002]This invention relates to a system, soft...

AI Technical Summary

Benefits of technology

"The invention is a system, software, and method for computer-assisted procurement or sales of products through an internet website. The system allows for the listing of products for sale or purchase by both buyers and sellers. During an event, qualified buyers or sellers can offer terms for the sale or purchase of the products. The system provides a platform for negotiating the terms of the sale or purchase. The website allows for the posting of offers and the solicitation of proposals from other sellers or buyers. The system is robust and can accommodate different units of measure and price points. The event can be extended to allow for additional responses from the sellers. The system provides a way for inexperienced sellers to increase or decrease the volume of goods being sought and allows for the comparison of quotes from different sellers. The system also allows for the automated adjustment of the volume base based on the purchaser's needs."

Problems solved by technology

For any product that can be described and priced per item, per weight or by how it is packaged, procurement has often been inefficient and time consuming for purchasers and sellers alike.

Additionally, past procurement methods have not been certain to bring purchasers the best purchase terms available, or to assure sellers a reasonable opportunity to fairly compete.

This practice has been inefficient, time consuming and not competitive.

Sellers have been unable to react to competitive offers and purchasers have been denied the benefit of such reactive pricing.

These sites are not tailored to a particular business's procurement practices, however.

They do not afford the opportunity for a business purchaser to schedule an event among recognized, qualified business suppliers, during which many items required by the business purchaser are posted by that purchaser, and suppliers are unable to quote against one another, not just on price, but on other terms important to both the selling and purchasing parties.

In addition prior sites have not allowed for actual negotiation of contract terms of a negotiated contract.

Images