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Method and System for Providing Contribution for a Purchase over a Social Network

IP.com Disclosure Number: IPCOM000202110D
Publication Date: 2010-Dec-03
Document File: 2 page(s) / 70K

Publishing Venue

The IP.com Prior Art Database

Abstract

A method and system is disclosed for facilitating friends within a social network of a user to contribute for a purchase of an item.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 51% of the total text.

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Method and System for Providing Contribution for a Purchase over a Social Network

Disclosed is a method and system for facilitating friends within a social network of a user to contribute for a purchase of an item. The user may ask friends from other social networks to contribute as well for the purchase of the item.

In order to receive contribution from the friends, the user as a buyer selects the item to be purchased online from an e-retailer and adds the item to a virtual long term cart. The user may select a time period for which the item remains in the virtual long term cart to receive contributions from the friends of the user. Additionally, a maximum limit for this time period may be set by the social network. After adding the item to the virtual long term cart, the user selects one or more friends from the social network who may be willing to contribute for the purchase. Once the one or more friends are selected by the user, purchase information associated with the item along with the amount for contribution is forwarded to the one or more friends. The purchase information may include one or more of, but is not limited to, the price of the item, item description, date of purchase, last date to contribute for the purchase, and name of the e-retailer. Additionally, a ranking associated with the user may also be sent to the one or more friends.

The ranking associated with the user is adjusted dynamically based on one or more of, but not limited to, an absolute amount of total money contributed by the user, a ratio of total amount contributed versus total amount received, number of items the user contributed for, frequency of recent contribution, a ratio of contribution to new friends versus old friends (higher ranking for contributing to new friends), and being an auto-contributor. The user as the auto-contributor contributes automatically upon receiving a request for contribution.

The one or more friends within the social network may opt for an option to contribute automatically whenever a request to contribute is received. In another scenario, the one or more friends within the social network may choose the option to contribute manually by evaluating the option to contribute based on one or more of, but not limited to, relationship with the user, an amo...