"A Method Of Electronically Conducting Virtual Exchange Under Negotiation Of Goods And Services In A System Over A Communication Network"

Abstract: The invention relates to a method of electronically conducting virtual exchange under negotiation of goods and services in a system over a communication network, the system comprising : a web server displaying the detailed data in respect of exchangeable commodity or services; a hand-held device enabled to access the web server via internet, the device having at least one input means, a processor, and a display means; and a client node configured to communicate in real time through the web-server with the hand-held device, the method comprising the steps of inputting a base data by the hand-held device via the internet, the data representing selection of one of a commodity and service; the features including price of the Selected Commodity or product displayed on the web server transmitted to the hand-held device in the form of animated characters; transmitting an offered price data to the client node through the web Server by the hand-held device; determining the acceptability or otherwise of the offered price by the client node and retransmitting via the web server the result of said determination to the hand-held device; and transferring the commodity or services under the agreed condition upon selection of settlement terms on consideration criterion to the user of the hand-held device by the user of the client node. {FIGURE 1}

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