Auction method and apparatus for electronic commerce
Number of patents in Portfolio can not be more than 2000
United States of America Patent
Stats
-
May 10, 2005
Grant Date -
N/A
app pub date -
Sep 13, 2000
filing date -
Sep 15, 1999
priority date (Note) -
Expired
status (Latency Note)
Importance
Abstract
An electronic trading entity (400) comprises a computing device having a processor, memory, user interface, and communications functionality, the computer entity comprising an algorithm (700) for monitoring a plurality of auction entities remotely over the internet; a algorithm (701) for calculating bids and for purchase of goods/services with a plurality of auction entities; an algorithm (702) for selecting individual auction entities with which to trade; a web browser (506) to allow a user to search for auction entities and add these to a stored list of entities at the bidding device. Bid calculation and offer calculation algorithms operate to optimally place bids at a lowest overall cost to the trading entity, or place offers with the object of obtaining the highest overall monetary figures for goods or services for sale by the trading entity.
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