Auction method and apparatus for electronic commerce
US6892186B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Sep 13, 2000 |
| Grant date | May 10, 2005 |
| Priority date | — |
| Expiry date | Apr 8, 2022 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An electronic trading entity (400) comprises a computing device having a processor, memory, user interface, and communications functionality, the computer entity comprising an algorithm (700) for monitoring a plurality of auction entities remotely over the internet; a algorithm (701) for calculating bids and for purchase of goods/services with a plurality of auction entities; an algorithm (702) for selecting individual auction entities with which to trade; a web browser (506) to allow a user to search for auction entities and add these to a stored list of entities at the bidding device. Bid calculation and offer calculation algorithms operate to optimally place bids at a lowest overall cost to the trading entity, or place offers with the object of obtaining the highest overall monetary figures for goods or services for sale by the trading entity.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.