Patent ID: 8660921

Claim:
A system to conduct a three party business transaction for a product owned by a supplier, the transaction between the supplier and a wholesaler and a buyer, the system comprising: a first communication system accessible by the supplier and having devices configurable to transmit for the product a product type, a product attribute and a cost mode to the wholesaler; a microprocessor executable first algorithm provided by the wholesaler to the supplier to configure the first communication system devices to categorize the product with the product type, the product attribute and the cost mode; a microprocessor executable second algorithm provided by the wholesaler to the supplier to configure the first communication system devices to create documents that commit the wholesaler to purchase title to the product and transfer ownership of the product to the wholesaler, and to configure the first communication system devices later to create a purchase order for the product at a time chosen by the supplier or the wholesaler; a second communication system having microprocessor configurable devices to transmit information from the wholesaler regarding a specification and a price of the product to the buyer; and a microprocessor executable third algorithm provided by the wholesaler to the buyer to configure the second communication system devices to create documents that commit the buyer to purchase title to the product and transfer ownership of the product to the buyer.