Method and system for processing and transmitting electronic auction information
US5835896A · kind A · utility
1,220Cited by
16References
4Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Mar 29, 1996 |
| Grant date | Nov 10, 1998 |
| Priority date | — |
| Expiry date | Mar 29, 2016 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for conducting a multi-person, interactive auction, in a variety of formats, without using a human auctioneer to conduct the auction. The system is preferably implemented in software. The system allows a group of bidders to interactively place bids over a computer or communications network. Those bids are recorded by the system and the bidders are updated with the current auction status information. When appropriate, the system closes the auction from further bidding and notifies the winning bidders and losers as to the auction outcome.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.