Method and apparatus to aggregrate demand for buyer specified goods and services
US8548868B1 · kind B1 · utility
Inventor
Key dates
| Filing date | Apr 10, 2011 |
| Grant date | Oct 1, 2013 |
| Priority date | — |
| Expiry date | Sep 19, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0605
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention is a method and apparatus for buyers to specify goods and services then aggregate demand to reduce price and minimize seller surplus. This enables consumers and small organizations to specify and obtain goods and services on terms usually available only to large organizations. An author can draft a RFQ or RFP then solicit comments and endorsements from opinion leaders who influence demand. The author will then publish the RFQ or RFP globally to prospective buyers to solicit binding commitments then offer the RFQ or RFP globally to prospective sellers to solicit binding bids. As the bid price declines the number of buyers will increase motivating a further reduction in bid price. The author can accept or reject each bid or make a counter-offer. If a bid is accepted, payment is exchanged for the specified goods and services.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.