{"schema_version":"1.0","canonical_url":"https://patentable.app/patents/US-11961131","patent":{"patent_number":"US-11961131","title":"System and method for electronic third-party negotiation automation system and tool","assignee":null,"inventors":[],"filing_date":"2019-02-05T00:00:00.000Z","publication_date":"2024-04-16T00:00:00.000Z","cpc_codes":["G06Q","G06Q","G06Q","G06Q"],"num_claims":19,"abstract":"A third-party negotiation automation tool for generating cost estimates on behalf of a seller is described herein. In response to receiving a request for a product from a buyer, a seller may choose to participate in a negotiation for fulfilling the request. The system may utilize one or more data sources, such as user-provided data, third-party data, and the like, to generate a cost estimate on behalf of the seller for fulfilling the request. The seller may choose to accept, modify, or decline the generated cost estimate before providing the cost estimate to the buyer for acceptance. This process may continue for one or more rounds, dependent upon the request, with the final cost estimates provided to the buyer for selection at the conclusion of the one or more rounds. In this way, the cost estimates generated on behalf of the seller may be optimized, thereby reducing the likelihood of inaccurate cost estimates and reducing the system resources required to process large volumes of bids received at or around the same time."},"analysis":{"summary":null,"layman_explanation":null,"technical_analysis":null,"business_analysis":null,"faqs":null,"topics":[],"tech_cluster":null},"seo":{"title":"System and method for electronic third-party negotiation automation system and tool","description":"A third-party negotiation automation tool for generating cost estimates on behalf of a seller is described herein. In response to receiving a request for a product from a buyer, a seller may choose to","keywords":[]},"attribution":{"source":"Patentable","source_url":"https://patentable.app","canonical_url":"https://patentable.app/patents/US-11961131","license":"CC-BY-4.0-like","license_terms":"AI-generated analysis on this page (summary, layman_explanation, technical_analysis, business_analysis, faqs) may be reused with attribution and a visible link back to the canonical URL above. Patent abstracts, claims, and bibliographic data are USPTO public domain.","required_link":"https://patentable.app/patents/US-11961131","citation_suggestion":"Patentable. \"System and method for electronic third-party negotiation automation system and tool\" (US-11961131). https://patentable.app/patents/US-11961131","copyright_holder":"Nomic Interactive Technology LLC"},"links":{"html":"https://patentable.app/patents/US-11961131","json":"https://patentable.app/api/llm-context/US-11961131","site":"https://patentable.app","llms_txt":"https://patentable.app/llms.txt"},"generated_at":"2026-05-31T06:51:33.298Z"}