Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
1998-12-23
2002-08-13
Millin, Vincent (Department: 2164)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S026640, C705S027200, C705S040000, C705S053000, C705S077000
Reexamination Certificate
active
06434536
ABSTRACT:
BACKGROUND OF THE INVENTION
The classic model of buyer-seller interaction is predicated on supply and demand. Greater supply leads to lower prices. Additionally, the market has always favored efficiency of delivery—the seller with lower costs is able to pass them along to the buyer and gain an advantage.
However, heretofore the ability to pass along the seller's lower costs to the buyer has taken time to develop—the nature of standard commerce does not permit instantaneous or nearly instantaneous transmission of price data or other information that may provide the seller with an advantage over others.
What has been lacking is a mechanism for allowing sellers to benefit from their efficiencies, while at the same time allowing buyers the ability to benefit from those efficiencies instantaneously or nearly instantaneously.
Accordingly, it is an object of the present invention to provide systems and methods for buyers and sellers to instantaneously or nearly instantaneously create a commerce channel or channels.
It is a further object of the present invention to provide systems and methods for permitting buyers and sellers to make use of the realized efficiencies of the market.
SUMMARY OF THE INVENTION
The present invention provides methods and systems for facilitating commerce by allowing for instantaneous or nearly instantaneous changes of price and other information, so that interested parties in commerce, for example, buyers and sellers, may benefit from the creating, eliminating and modifying of instantaneous or nearly instantaneous commerce channels. Preferred embodiments use computer networks and the network of connected machines known as the Internet in creating, eliminating and modifying, instantaneous or nearly instantaneous commerce channels.
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Chovanes Joseph E.
Kanof Pedro
Millin Vincent
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