Electronic registration system for product transactions

A system for registering product transactions, comprising:

• an input device which, at the location of the transaction, obtains information that identifies the individual product involved in the transaction;
• a memory which stores said individual product identification information with additional information including at least the date of the transaction in a local transaction database;
• a recorder which creates a transaction receipt that identifies said individual product identification information and the date of transaction;
• and a communication channel operable to communicate said individual product information and said date of transaction to a remote location for inclusion in a general transaction database.

A method for registering product transactions, comprising the steps of:

• obtaining, at the location of the transaction, information which identifies the individual product involved in said transaction;
• verifying the validity of the individual product identification information from said obtaining step;
• creating a local transaction database including the valid individual product identification information and additional information including at least the date of the transaction;
• and
• communicating at least said individual product identification information and said date of transaction to a remote location for inclusion in general transaction database.

A method for reducing the number of unauthorized returns to retailers of products sold under warranty by electronically registering data concerning the sale, comprising the steps of:

• obtaining, at the point of sale, a serial number for the product being sold;
• verifying the validity of said serial number and, if said serial number is not valid, repeating said obtaining step;
• storing the serial number and the date of transaction in a retailer database;
• and
• communicating at least said serial number, the sale date, and information identifying the retailer for storage in a general database.