Method and system for implementing a business transaction over the internet with use and consecutive transformation of information from publicly available databases, actual preferences of potential customers and statistical models of the market situation
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United States of America Patent
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N/A
Issued Date -
Dec 18, 2003
app pub date -
Jun 17, 2002
filing date -
Jun 17, 2002
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method and a system for implementing a business transaction over the Internet that involves search, negotiations and legal closing with multiple participants (i.e., real estate business) in which the computerized system communicates with potential participants consecutively, creates mathematical approximations for their multidimensional utility and flexibility functions based on information voluntarily supplied by the participants, organizes the search of admissible items at preliminary defined search domains, generates the fair price evaluations for each item, which the participants are interested in, based on statistical models of the market situation, organizes the process of interactive negotiations between participants at preliminary defined negotiation domains with the use of fair price evaluations and Pareto analysis, delivers to the participants the possibilities to sign the contract electronically and to finish the total process with due diligence and legal closing online.
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