Patent ID: 7734497
Filing Date: 2010-06-08
Classification: G06Q

Abstract:
1. A method for implementing transaction-based data exchange updates by one or more computer processors in communication over a communication network, the method comprising: transferring, via a data exchange system application executing on at least one of the computer processors, information relating to a product that is transferred via a transmission means selected by an individual using one of the computer processors, the individual requesting the information, the information including warranty information, accounting depreciation instructions, pricing information, and product details; acquiring accounting instructions, the accounting instructions originating from government regulation and based on a geographic location of the individual, the acquiring based on at least one of: calculating, by the one or more computer processors, a current net worth of the product, the current net worth determined using; comparing, by the data exchange system application, results of the calculating with historical accounting information, the historical accounting information including factors that are determined to impact the current net worth, the factors including at least one of: adjusting, by the data exchange system application, the results of the calculating based on the comparing; and updating, via the selected transmission means, a financial application of the computer processor associated with the individual, the financial application updated with the adjusted results of the calculating; providing results of the updating to the individual.