Method and system for implementing catalog inventory auctions in an electronic exchange

US7720745B2 · kind B2 · utility

Assignee

• Oracle International Corporation · US

Inventors

• Kim Powell · Parma, US
• Liza Lyons · Purcellville, US
• Dave Stephens · Rue de l'Église, US
• Ben Gu · Foster City, US
• James Wang · San Francisco, US
• Kareem Benjamin · San Francisco, US

Key dates

• Filing date: Jul 24, 2001
• Grant date: May 18, 2010
• Expiry date: Sep 2, 2022

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q50/188
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An auction method for specifying catalog contents for packaging and pushing to an electronic auction. The auction method is implemented in an electronic commerce exchange. The auction method includes the steps of specifying catalog contents for packaging for an auction operation hosted on the electronic exchange. Initial terms for the sale of the contents are then specified. The auction is then automatically initiated using the previously specified contents and the previously specified terms. The auction proceeds with the receiving of bids for the contents from remote bidders. The bids are received via a distributed computing network into which the electronic commerce exchange is communicatively coupled. A winning bid is selected by determining a most competitive bid out of the bids received for the contents. A sale of the contents is then completed based upon the terms of the most competitive bid.