Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Electronic shopping
Reexamination Certificate
1999-11-16
2003-07-22
Chilcot, Richard (Department: 3627)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Electronic shopping
Reexamination Certificate
active
06598027
ABSTRACT:
FIELD OF THE INVENTION
The present invention relates generally to commerce and, more particularly, to electronic commerce conducted via a computer network, such as the Internet.
BACKGROUND OF THE INVENTION
Agricultural chemicals, such as insecticides, herbicides, and fungicides, are widely used in agriculture. Agricultural chemicals are typically sold directly to agricultural growers by local independent chemical dealers who act as intermediaries between growers and chemical producers. In order to insure that they are able to meet the demand of growers in their area, local chemical dealers typically carry excess inventory of various chemical products. Unfortunately, because of the seasonal nature of the agricultural chemical market, and because of geographic crop diversity, excess inventory may be carried for extended periods of time. For example, a local chemical dealer in Mississippi may have to carry excess inventory of cotton chemicals until the next cotton season because growers in the area will not need the chemicals until the next cotton season. Unfortunately, excess inventory may lead to increased costs and may tie up money that could be used elsewhere in a business.
As such, it would be desirable for local chemical dealers to be able to find additional buyers outside of their normal markets in order to help reduce excess inventory. Unfortunately, it may be difficult for a local chemical dealer to become aware of distant buyers. In addition, regulatory constraints, transportation costs, and the credit risk of dealing with unfamiliar customers may make transactions with distant buyers expensive and/or difficult.
SUMMARY OF THE INVENTION
In view of the above discussion, the present invention provides systems, methods, and computer program products for facilitating anonymous buying and selling of regulated goods, such as agricultural chemicals, over a computer network, wherein the computer network includes a Web site operated by an intermediary and a plurality of Web clients in communication with the Web site. Buyers and sellers who have “registered” with the intermediary can communicate anonymously with each other via respective Web clients. The intermediary obtains information about each buyer and seller at registration, including location information, identification information, and regulatory licensing information. The intermediary maintains this information and supplements this information with information obtained from various third party sources over time.
According to one embodiment of the present invention, a seller can offer regulated goods for sale at a fixed price by sending a request to the intermediary Web site to list the regulated goods for sale. Alternatively, a seller can offer regulated goods for sale by sending a request to the intermediary Web site to conduct an auction. In either case, the intermediary verifies that the seller is authorized to sell the regulated goods. Typically, this includes verifying that the seller has a valid license issued by a regulatory agency having authority over the regulated goods. This information is typically provided by a seller upon initial registration with the intermediary.
In response to verifying that a seller is authorized to sell the regulated goods, the intermediary lists information about the regulated goods offered for sale over the computer network and awaits an offer from potential buyers to purchase the regulated goods from the seller at the listed sales price. Alternatively, the intermediary conducts an auction and awards the sale of the regulated goods to the highest bidders. Listed information typically includes an identification of the regulated goods (e.g., a brand name), a quantity of the regulated goods, an asking price for the regulated goods, and shipping costs for shipping the regulated goods from the seller's location to a potential buyer's location. In addition, various restrictions may also be listed, such as where and from whom offers to purchase the regulated goods will be rejected by the seller.
In response to receiving an acceptable offer from potential buyers (either as a fixed price sale or via auction), the intermediary verifies that the potential buyers are authorized to purchase the regulated goods. Typically, this includes verifying that the potential buyer has a valid license issued by a regulatory agency having authority over the regulated goods. This information is typically provided by a buyer upon initial registration with the intermediary. In addition, the intermediary may verify that the regulated goods offered for sale are legal for use within the buyer's location using regulatory information maintained by the intermediary and/or accessible to the intermediary via third party product information providers.
In response to verifying that the buyer is authorized to purchase the regulated goods, the intermediary initiates delivery of the regulated goods from the seller to the buyer and initiates a transfer of funds from a financial account of the buyer to a financial account of the intermediary. Preferably, the intermediary notifies a third party freight dispatcher in communication with the computer network to handle delivery of the regulated goods to the buyer. In addition, the intermediary preferably notifies a third party financial institution via the computer network to handle the transfer of funds from the buyer to the intermediary. Upon confirmation by the buyer of acceptance of the delivered goods, funds are then transferred from a financial account of the intermediary to a financial account of the seller.
According to another embodiment of the present invention, the intermediary may conduct a reverse auction over the computer network, wherein potential buyers submit bids for selected regulated goods. As described above, verification that a potential buyer is authorized to purchase the regulated goods is conducted by the intermediary. In addition, the intermediary verifies that the regulated goods are legal for use within the buyer's jurisdiction and that a seller of the regulated goods is authorized to sell the regulated goods.
According to another embodiment of the present invention, the intermediary may conduct a reverse auction over the computer network, wherein various carriers can submit bids for delivering the regulated goods from the seller to the buyer. The intermediary can award the job of shipping the regulated goods to the carrier with the lowest bid.
Information about each transaction between a buyer and a seller is stored by the intermediary and is available to regulatory and other governmental agencies having a need to know information about a transaction.
The present invention may allow agricultural growers the opportunity to shop for the best available price for any type of agricultural input including, but not limited to chemicals, seed, and animal health products, while also ensuring compliance with regulations pertaining to these agricultural inputs. Buyers are not limited to purchasing agricultural inputs from local suppliers.
For sellers of agricultural inputs, the present invention may provide an efficient, secure and cost effective way to reduce inventory and improve profits. With a larger market available, sellers can create pricing, sourcing and liquidation strategies that can make their businesses more competitive.
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Breen, Jr. Napier Fulton
Hompesch Randall
Chilcot Richard
Jaketic Bryan
Myers Bigel Sibley & Sajovac
XS, Inc.
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