System and method for providing a futures/forward tradable market and bidded price negotiation for internet advertising
View Patent ↗A system of advertising on the Internet, including: an on-line system for sellers of future advertising space to create advertising contracts; an on-line system for presenting the advertising contracts to purchasers of advertising space; an on-line system for the purchasers of future advertising space to select the sellers' advertising contracts; a system to integrate purchased advertising contracts to a delivery mechanism that displays purchasers' advertising in the sellers advertising space; and a system for transferring funds from the purchasers to the sellers after completion and audit of the advertising contracts.
1. A computerized system with a platform having software on a non-transitory computer readable medium which when executed by a computer operates through a web-based interface, a market of future advertising contracts, wherein the contracts are tradable or re-sellable prior to delivery of the advertising, comprising:
a server;
a software sub-system embodied on a non-transitory computer readable medium that operates on the server for sellers of future advertising space to create re-sellable advertising contracts displayed on a web-based interface;
a software sub-system embodied on a non-transitory computer readable medium that operates on the server for presenting the re-sellable advertising contracts to purchasers of advertising space displayed on the web-based interface;
a software sub-system embodied on a non-transitory computer readable medium that operates on the server for the purchasers of future advertising space to purchase the sellers' re-sellable advertising contracts displayed on the web-based interface, thereby executing the re-sellable advertising contracts;
a software sub-system embodied on a non-transitory computer readable medium that operates on the server to integrate purchased re-sellable advertising contracts to a delivery mechanism that displays purchasers' advertising in the sellers advertising space;
a software sub-system embodied on a non-transitory computer readable medium that operates on the server for re-listing the executed re-sellable advertising contracts for re-sale prior to delivery; and
a software sub-system embodied on a non-transitory computer readable medium that operates on the server for transferring funds from the purchasers to the sellers on purchase, completion or audit of the executed re-sellable advertising contracts, wherein the advertising contracts are executed, and then re-sold and then delivered.
2. The system of claim 1 , further comprising:
a software sub-system for purchasers and sellers of the re-sellable advertising contracts to negotiate pricing through a concealed bidding process, including specification of a submitted bid expiration time specified by the purchaser.
3. The system of claim 2 , wherein the software sub-system for purchasers and sellers of the re-sellable advertising contracts to negotiate pricing through a bidding process provides the purchaser with an option to purchase or to reject the advertising contract, even upon acceptance of the bid by the seller.
4. The system of claim 1 , wherein the software sub-system for sellers of advertising space to create re-sellable advertising contracts comprises:
the sellers inputting contract details into an on-line form.
5. The system of claim 1 , further comprising:
a software sub-system system for auditing the delivery of the executed re-sellable advertising contracts prior to transferring funds from the purchasers to the sellers.
6. The system of claim 1 , wherein the system further comprises:
a software sub-system system for verifying the identities of the purchasers and sellers prior to displaying the purchasers' advertising on the sellers advertising space.
7. The system of claim 1 , further comprising:
a software sub-system for forming and dissolving a consortium of purchasers to purchase re-sellable advertising contracts for advertising space together from a single seller or a consortium of sellers for either individual or multiple buying transactions.
8. The system of claim 1 , further comprising:
a software sub-system for forming and dissolving a consortium of sellers to sell re-sellable advertising contracts for advertising space together to a single purchaser or a consortium of purchasers for either individual or multiple selling transactions.
9. The system of claim 1 , wherein terms of the re-sellable advertising contracts are accessible to users of the system other than those purchasers and sellers that are parties to the re-sellable advertising contracts.
10. The system of claim 1 , wherein terms of the re-sellable advertising contracts are only accessible to those purchasers and sellers that are parties to the re-sellable advertising contracts.
11. The system of claim 1 , further comprising:
a software sub-system of rating the purchasers of advertising space.
12. The system of claim 1 , further comprising:
a software sub-system of rating the sellers of advertising space.
13. A method of operating through a web-based interface a market for future advertising contracts on the Internet, wherein the contracts are tradable or re-sellable prior to delivery of the advertising, comprising:
having sellers of future advertising space create re-sellable advertising contracts on a server through a web-based interface comprising software embodied on a non-transitory computer readable medium, that when executed is performed on the server;
the software displaying the re-sellable advertising contracts on-line to purchasers of advertising space through the web-based interface;
having purchasers of future advertising space use the software to select the sellers' re-sellable advertising contracts through the web-based interface, thereby executing the re-sellable advertising contracts;
the software listing the executed re-sellable advertising contracts for re-sale prior to delivery;
the software integrating purchased advertising contracts to a delivery mechanism that enables the display of purchasers' advertising in the sellers advertising space; and
the software transferring funds from the purchasers to the sellers after completion of the advertising contracts and upon audit.
14. The method of claim 13 , further comprising:
having purchasers and sellers negotiate contract pricing by concealed bidding.
15. The method of claim 14 , wherein the concealed bidding process provides the purchaser with an option to either purchase or to reject the re-sellable advertising contract, even upon acceptance of the bid by the seller.
16. The method of claim 13 , further comprising:
trading and reselling purchased advertising contracts prior to delivery of the purchased advertising.
17. The method of claim 13 , wherein having sellers of future advertising space create advertising contracts on-line comprises:
having sellers create contracts on-line with at least one of a start date, a stop date, a contract price, a minimum number of impressions, a type of advertising space, and a content description.
18. The method of claim 17 , wherein sellers select keywords to describe the content of their websites.
19. The method of claim 13 , further comprising:
auditing the completion of the advertising contracts prior to transferring funds from the purchasers to the sellers.
20. The method of claim 13 , further comprising:
verifying the identities of the purchasers and sellers prior to displaying the purchasers' advertising on the sellers advertising space.
21. The method of claim 13 , further comprising:
forming and dissolving a consortium of purchasers to purchase re-sellable advertising contracts for advertising space together from a single seller or a consortium of sellers for either individual or multiple buying transactions; or forming and dissolving a consortium of sellers to sell re-sellable advertising contracts for advertising space together to a single purchaser or a consortium of purchasers for either individual or multiple selling transactions.
22. The method of claim 13 , further comprising:
having purchasers of advertising space re-sell the advertising contracts.