Method and system for processing and transmitting electronic auction information
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United States of America Patent
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Nov 10, 1998
Grant Date -
N/A
app pub date -
Mar 29, 1996
filing date -
Mar 29, 1996
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system and method for conducting a multi-person, interactive auction, in a variety of formats, without using a human auctioneer to conduct the auction. The system is preferably implemented in software. The system allows a group of bidders to interactively place bids over a computer or communications network. Those bids are recorded by the system and the bidders are updated with the current auction status information. When appropriate, the system closes the auction from further bidding and notifies the winning bidders and losers as to the auction outcome.
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