Methods of facilitating merchant transactions using a computerized system including a set of titles

Abstract

A method of facilitating a transaction between a merchant and a buyer using a computerized system including a set of titles. The method includes storing the set of titles in a merchant site corresponding to a set of products for sale; browsing the merchant site using a client device and selecting a product for purchase; and generating a payment slip title for the product including information relating to a payment amount and a buyer identifier. The method further includes selecting a payment structure from a set of available payment structures; modifying the payment slip title to include information corresponding to the selected payment structure; releasing the product title to the buyer; and transmitting the payment amount to the merchant.

What is claimed is: 
     
         1 . A computer-implemented method for facilitating a transaction between a first entity and a second entity via a network including a plurality of computing devices, the method comprising:
 storing a plurality of title objects corresponding to a plurality of entities including the first and second entities on one or more of the computing devices, each title object representing one or more rights that may be redeemed by presentation of the title object to a title-enabled process operating in the network, each title object being encoded with an updateable state configured to prevent duplicate redemption of the one or more rights represented by the title object, each title object also being encoded with one or more pointers to one or more resources in the network to which the one or more rights correspond;   using one or more of the computing devices, transferring a selected one of the title objects from the first entity to the second entity to effect the transaction and to transfer ownership of the one or more rights represented by the selected title object from the first entity to the second entity, wherein transferring the selected title object includes transferring control of the selected title object from the first entity to the second entity; and   in conjunction with transfer of the selected title object and using one or more of the computing devices, updating the updateable state encoded in the selected title object and updating a corresponding externally stored state stored separately from the selected title object such that the updateable state encoded in the selected title object agrees with the externally stored state, thereby transferring ownership of the one or more rights represented by the selected title object from the first entity to the second entity and ensuring that only a single valid instance of the selected title object may be used to redeem the one or more rights.   
     
     
         2 . The method of  claim 1 , wherein transferring the selected title object involves any of the first entity, the second entity, a third entity responsible for facilitating a portion of the transaction, or any additional entities associated with the transaction. 
     
     
         3 . The method of  claim 1 , wherein transferring the selected title object includes transferring the selected title object to a lockbox process programmed to release the selected title object to the second entity upon satisfaction of at least one criterion. 
     
     
         4 . The method of  claim 3 , wherein satisfaction of the at least one criterion is either verified by one or both of the first and second entities, or verified by an automated process. 
     
     
         5 . The method of  claim 1 , wherein transferring control of the selected title object to the second entity effects a payment from the first entity to the second entity. 
     
     
         6 . The method of  claim 5 , wherein the payment corresponds to one or more of currency, reward points, personal profile information, a credit account, a debit account, a checking account, a bank account, a blinded account, a pre-paid account, a telecommunications account, or a secured account. 
     
     
         7 . The method of  claim 6 , wherein the payment corresponds to currency, and wherein an amount of the payment exceeds a purchase price, the method further comprising transferring control of one or more additional title objects from the second entity to the first entity, the one or more additional title objects including one or more currency title objects representing a currency value corresponding to a difference between the payment amount and the purchase price. 
     
     
         8 . The method of  claim 6 , wherein the payment corresponds to currency of a first type, the method further comprising transferring control of one or more additional title objects from the second entity to the first entity, the one or more additional title objects corresponding to currency of a second type representing a currency exchange value corresponding to the selected title object. 
     
     
         9 . The method of  claim 1 , wherein transferring control of the selected title object to the second entity effects transfer of at least one right to the second entity that may be redeemed by presentation of the selected title object to a first process, wherein the at least one right relates to one or more of access to content, access to a service, or access to a purchased item. 
     
     
         10 . The method of  claim 1 , further comprising transferring control of a sales order object to the first entity in response to a purchase request associated with the first entity, the sales order object being one of the title objects and including payment information specifying how payment may be effected, wherein transferring control of the selected title object to the second entity effects the payment in response to the sales order object. 
     
     
         11 . A system for facilitating a transaction between a first entity and a second entity, comprising:
 one or more data stores in a network, the one or more data stores storing a plurality of title objects corresponding to a plurality of entities including the first and second entities, each title object representing one or more rights that may be redeemed by presentation of the title object to a title-enabled process operating in the network, each title object being encoded with an updateable state configured to prevent duplicate redemption of the one or more rights represented by the title object, each title object also being encoded with one or more pointers to one or more resources in the network to which the one or more rights correspond;   one or more of the computing devices operating in the network, at least one of the one or more computing devices being in communication with at least one of the one or more data stores, the one or more computing devices being configured to:   transfer a selected one of the title objects from the first entity to the second entity to effect the transaction and to transfer ownership of the one or more rights represented by the selected title object from the first entity to the second entity, wherein transfer of the selected title object includes transfer of control of the selected title object from the first entity to the second entity; and   in conjunction with transfer of the selected title object, update the updateable state encoded in the selected title object and update a corresponding externally stored state stored separately from the selected title object such that the updateable state encoded in the selected title object agrees with the externally stored state, thereby transferring ownership of the one or more rights represented by the selected title object from the first entity to the second entity and ensuring that only a single valid instance of the selected title object may be used to redeem the one or more rights.   
     
     
         12 . The system of  claim 11 , wherein transfer of the selected title object involves any of the first entity, the second entity, a third entity responsible for facilitating a portion of the transaction, or any additional entities associated with the transaction. 
     
     
         13 . The system of  claim 11 , wherein the one or more computing devices are configured to transfer the selected title object by transferring the selected title object to a lockbox process programmed to release the selected title object to the second entity upon satisfaction of at least one criterion. 
     
     
         14 . The system of  claim 13 , wherein satisfaction of the at least one criterion is either verified by one or both of the first and second entities, or verified by an automated process. 
     
     
         15 . The system of  claim 11 , wherein transfer of control of the selected title object to the second entity effects a payment from the first entity to the second entity. 
     
     
         16 . The system of  claim 15 , wherein the payment corresponds to one or more of currency, reward points, personal profile information, a credit account, a debit account, a checking account, a bank account, a blinded account, a pre-paid account, a telecommunications account, or a secured account. 
     
     
         17 . The system of  claim 16 , wherein the payment corresponds to currency, wherein an amount of the payment exceeds a purchase price, and wherein the one or more computing devices are further configured to transfer control of one or more additional title objects from the second entity to the first entity, the one or more additional title objects including one or more currency title objects representing a currency value corresponding to a difference between the payment amount and the purchase price. 
     
     
         18 . The system of  claim 16 , wherein the payment corresponds to currency of a first type, and wherein the one or more computing devices are further configured to transfer control of one or more additional title objects from the second entity to the first entity, the one or more additional title objects corresponding to currency of a second type representing a currency exchange value corresponding to the selected title object. 
     
     
         19 . The system of  claim 11 , wherein transfer of control of the selected title object to the second entity effects transfer of at least one right to the second entity that may be redeemed by presentation of the selected title object to a first process, wherein the at least one right relates to one or more of access to content, access to a service, or access to a purchased item. 
     
     
         20 . The system of  claim 11 , wherein the one or more computing devices are further configured to transfer control of a sales order object to the first entity in response to a purchase request associated with the first entity, the sales order object being one of the title objects and including payment information specifying how payment may be effected, and wherein transfer of control of the selected title object to the second entity effects the payment in response to the sales order object. 
     
     
         21 . A computer program product for facilitating a transaction between a first entity and a second entity, the computer program product comprising one or more computer-readable media having computer program instructions stored therein, the computer program instructions being configured such that, when executed by one or more computing devices, the computer program instructions cause the one or more computing devices to:
 manage a plurality of title objects corresponding to a plurality of entities including the first and second entities, each title object representing one or more rights that may be redeemed by presentation of the title object to a title-enabled process operating in a network, each title object being encoded with an updateable state configured to prevent duplicate redemption of the one or more rights represented by the title object, each title object also being encoded with one or more pointers to one or more resources in the network to which the one or more rights correspond;   transfer a selected one of the title objects from the first entity to the second entity to effect the transaction and to transfer ownership of the one or more rights represented by the selected title object from the first entity to the second entity, wherein transfer of the selected title object includes transfer of control of the selected title object from the first entity to the second entity; and   in conjunction with transfer of the selected title object, update the updateable state encoded in the selected title object and update a corresponding externally stored state stored separately from the selected title object such that the updateable state encoded in the selected title object agrees with the externally stored state, thereby transferring ownership of the one or more rights represented by the selected title object from the first entity to the second entity and ensuring that only a single valid instance of the selected title object may be used to redeem the one or more rights.