Virtual vending system and method for managing the distribution, licensing and rental of electronic data

A virtual vending machine manages a comprehensive vending service for the distribution of licensed electronic data (i.e., products) over a distributed computer system. The distributed computer system includes a group of client computers, a group of vendors that contribute the products to the virtual vending machine for distribution, and a server computer for operating the virtual vending machine. The virtual vending machine distributes licenses for the electronic data for the complete product or for components thereof and for a variety of time frames, including permanent licenses and rental period licenses. The virtual vending machine provides client computers with the capability to obtain information regarding the available products and the associated license fees and rental periods, to receive the product upon receipt of a corresponding electronic payment, and to reload the product during the term of the license. The virtual vending machine provides vendors with the capability of establishing a particular vending service that includes point-of-sale electronic payment and a means to communicate with the client computers to which licensed electronic data has been distributed.