A Three-Phase Model of Electronic Marketplaces for Software Components in Chemical Engineering

Electronic marketplaces in the business-to-business operate in different branches. Abstracting from these realisations of the concept of an electronic marketplace, we can derive a general model of a business transaction with the following three phases. Starting with a search for new business partners, successful negotiations lead to a contract which then needs to be fulfilled. In this paper, these three phases will be discussed in detail, emphasising the problems with current practices in electronic marketplaces. An extended model that overcomes these problems will be presented and applied to the context of trading of software components for chemicaI engineering.

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