Real time electronic commerce telecommunication system and method
US7865420B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jan 22, 2001 |
| Grant date | Jan 4, 2011 |
| Priority date | — |
| Expiry date | Jan 30, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/188
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An auction system and method, which identifies at least one lot to be auctioned, having a plurality of units within the lot and associated auction parameters; transmits a remaining quantity of units within the lot from a central server to a plurality of remote locations; receives bid identifications for remaining units within the lot at the contemporaneous offering price from the plurality of remote locations; and decrements the offering price over time. The decrement may be adaptive to a bid activity pattern, and the bid activity pattern may be stored in a database. A local server may be provided to communicate between the central server and remote locations while changing the format of the information communicated. The packets preferably include compressed information, and preferably include quantity remaining information for a plurality of auction lots.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.