Method and apparatus for facilitating buyer-driven purchase orders on a commercial network system
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United States of America Patent
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Jul 10, 2001
Grant Date -
N/A
app pub date -
Dec 2, 1998
filing date -
Dec 2, 1998
priority date (Note) -
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Abstract
Systems and methods are described for providing a global bilateral buyer-driven system for creating binding contracts by incorporating various methods of communication, commerce and security for the buyers and the sellers. Individual buyers purchase requirements are aggregated into a single collective purchase requirement and sellers are located willing to bid on the collective purchase requirement. A central controller facilitates the buyer/seller transaction by fielding binding offers from buyers, aggregating those offers into group (i.e. pooled) offers and communicating those group offers globally in a format which can be efficiently accessed and analyzed by potential sellers. This system can also effectuate performance of resulting contracts, resolve disputes arising from those contracts, and maintain billing, collection, authentication, and anonymity. The methods disclosed are applicable to any commerce situation involving buyers and sellers.
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