System and method for conducting an electronic auction over an open communications network
US6871190B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 14, 1999 |
| Grant date | Mar 22, 2005 |
| Priority date | — |
| Expiry date | Sep 14, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An interactive system conducts auctions over an open communications network. Remote bidder site(s) are interconnected with remote scum site(s). Data for desired merchandise to be acquired at an auction is entered and a bidding strategy is automatically generated at a remote bidder site. The generated bidding strategy is dien implemented at a remote seller site. Auction data relating to merchandise to be auctioned is entered and a selling strategy is generated on the basis of the auction data at the seller site. Thereafter, the generated selling strategy is implemented by interaction with bidding agent(s) at the seller site. During an auction at a seller site, the bidder and seller actions are controlled and synchronized.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.