Individualized, real-time, interactive e-commerce auction
US6606607B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 17, 1999 |
| Grant date | Aug 12, 2003 |
| Priority date | — |
| Expiry date | Jun 17, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A real-time, interactive auction process for use in electronic commerce includes buyer and administrator interfaces coupled to a central controller via a global information network. The central controller processes and stores customer and product information as well as offer (acceptable price) information and order (bid) information. Each product is assigned a minimum acceptable price (MAP) as well as a virtual minimum acceptable price (VMAP). The VMAP is always greater than MAP and is assigned one of three parameters, loose, medium, or tight. The VMAP is generated randomly within a loose, medium, or tight range of the MAP. The bidder can submit as many as three bids with counter offers made to the first two bids. If the third bid is declined, the bidder is locked out of the bidding process.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.