METHOD AND SYSTEM FOR CREATING AND VERIFYING DERIVATIVE CONTRACT TERMS USING PARTY RELATIONSHIPS

摘要

Method and system for determining and verifying derivative contracts from party relationships. Parties (2, 6, 6') enter into exchange-of-value transactions by offer and acceptance of contract terms that provide for an exchange of value. Parties in these transactions are value chain participants (6, 6'), with a plurality of express and implied contractual relationships among the participants of the value chain. The present invention determines the derivative contract terms for offer and acceptance of exchange-of-value transactions based on relationships between value chain participants. Reference services (4, 4', 4'') derive the contract terms by determining the relationships between parties and then applying rules to these relationships in order to generate the contract terms. The present invention is particularly applicable in the area of e-commerce transactions, where a plurality of complex relationships creates complex business transactions. Thus, in the area of the purchase of audio and video content through electronic media, as well as the purchase of products via web sites, reference services are able to derive the contractual terms for such purchases and include them in a purchase agreement, thereby protecting the rights and duties of value chain participants that are involved in the transaction.