Patent ID: 7840440

Claim:
A computerized system capable of multiple rounds for automated bargaining to achieve a binding bargained payment for a transaction comprising: at least one processing device; processor accessible storage; and a computer executable program, an input capable of receiving data as input signals wherein the input signals comprise one or more offers for sale from at least one first party and one or more offers to purchase from at least one second party; an input for inputting at least one predetermined criterion into the system against which the parties offer for sale and offer to purchase are compared on a round by round basis to determine if binding bargained payment has been achieved; the at least one processing device operable to, when executing the program: analyze said data and compare each offer for sale and each offer to purchase in a round by round manner beginning with the first round if the round offers for sale and purchase satisfy the predetermined criterion; notify both parties that the comparison analysis has occurred and either has produced an agreement on a binding bargain payment that is calculated as a function of at least one of the offers in the first round or it indicates that no agreement was produced in that round; when no binding bargained agreement has been produced in the first round then said system is configured to compares a second offer from each party said second offers being transmitted by the input signals to said system; analyzes the next round of offers for sale and purchase by comparing those offers to determine if they satisfy the predetermined criterion for that round; notify the parties that the comparison analysis has produced a binding bargained payment calculated as a function of at least one of the offers for that round or that it has not produced an agreement: the computerized system is configured so that: (a) the processing device is configured such that the at least one predetermined criterion inputted into the system can change from one round to another round and said processing device which analyzes the data compares the offers of the parties against the criterion in a round by round manner; and (b) during a given round the system does not given any indication of the amount of any offer from one party for that round to the other party.