Ameriquest patents collective purchasing system

AmeriQuest Transportation and Logistics Resources Corp., a fleet management services provider based in Cherry Hill, NJ, has patented a business system for collective purchasing strategies. The patent, entitled "Collective Business System," provides business support mechanisms from suppliers to independent companies, trade persons or professionals in a common industry through a substantially liquid, asset-based, for-profit business entity.

The businesses participating in the model receive enhanced purchasing power, national marketing capabilities and other business leverage support to compete effectively with national companies in their industry.

AmeriQuest said it filed for the patent in May 1999, and was awarded the patent last month. The company expects to receive the patent number within 12 weeks. The company added that it has used this system for three years in the independent truck leasing and rental industry.