Patent ID: 6859782
Filing Date: 2005-02-22
Classification: G06Q

Abstract:
1. An automated method for developing a new product, comprising: receiving electronically, using a computer accessible through a wide area network, a plurality of new product concepts from a plurality of submitters, said plurality of new product concepts administered by a manager; selecting one new product concept from said plurality of new product concepts for market introduction; transforming said selected new product concept into a developed new product suitable for introduction to the marketplace; introducing said developed new product to the marketplace to find an interested party; and licensing said developed new product to said interested party for manufacture, distribution, and sale in the marketplace, said license including parameters for making payment of a first royalty to the submitter of said selected new product concept and making payment of a second royalty smaller than said first royalty to the submitters of each new product concept not selected and making payment of a third royalty smaller than said first royalty payable to said manager.