Multiple Option Auction Method and System
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United States of America Patent
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N/A
Issued Date -
Dec 18, 2008
app pub date -
Sep 13, 2006
filing date -
Sep 13, 2005
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
The present invention relates generally to a method and system for conducting online auctions. It has particular application in conducting business over a network of computers such as the Internet, for establishing materials or service supply or sales contracts, agreements for allocation of resources, etc. In particular, the invention relates to the use of multiple options within an online auction scenario. In one form, the invention provides a method for conducting an online auction event to establish a contract, the event conducted between a controlling party and at least two parties from a prescribed panel of qualified competing bidding parties, each competing bidding party operating a bidding computer, the online auction event including at least two alternative contract options potentially acceptable to said controlling party, the online auction event conducted by receiving bids from respective bidding computers, automatically comparing, during the online auction event, the respective bids and the respective contract options involving those bids, and selecting from said alternative contract options to award the contract on the basis of the comparisons.
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