Abstract:
The invention provides a technique for computerized multi-variable negotiation in networking environment. A user initiates a transaction by identifying a variety of parameters, specifying which parameters may be modified, and indicating limits of acceptable modification. This latter feature is particularly important with respect to entertaining counteroffers. The initiator of a negotiation selects the parties with whom they wish to negotiate. The parameters describing a transaction are sent to negotiating parties who may submit bids. The bids may contain new terms created by altering one or more of the parameters. These bids are summarized and presented to the initiator. The initiator of the negotiation reviews the bids and (1) eliminates bids from consideration, 2) accepts a bid, or (3) selects bids for advanced negotiations. This process continues until the parties decide to close the deal. A history of each involved in a negotiation is maintained in a database.