Distributed reverse auction
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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-
Jan 31, 2012
Grant Date -
Dec 18, 2008
app pub date -
Jun 15, 2007
filing date -
Jun 15, 2007
priority date (Note) -
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status (Latency Note)
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Abstract
A distributed reverse auction allows an auction to end when a dealer is first in time to accept a bid. A purchaser creates an account that relates to a specified purchase. The purchaser places bids at different dealers using the created account. The first dealer to accept the bid draws the agreed upon amount of money from the account. The other bids are cancelled and thus the dealer to act first in time engages in the sale.
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Cited Art Landscape
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