Implementing auctions on social network platforms
US8762221B2 · kind B2 · utility
Inventors
Key dates
| Filing date | Nov 17, 2010 |
| Grant date | Jun 24, 2014 |
| Priority date | — |
| Expiry date | Mar 7, 2032 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L51/52
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system platform and associated methods are provided for implementing online reverse auctions in a social network platform (SNP). A fully-automated, live, reverse-auction based system is integrated into an SNP to enable buyers to initiate desired transactions and take advantage of a subscribers' network of friends, colleagues, co-workers, family members and connections by connecting buyers and sellers in a non-intrusive, targeted fashion. Sellers compete for buyers' business by providing dynamic, real-time seller-specific pricing while simultaneously optimizing the seller's target parameters such as price, inventory levels, profit, revenue and volume.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.