Location History:
- Los Altos Hills, CA (US) (2008 - 2012)
- San Francisco, CA (US) (2014)
Company Filing History:
Years Active: 2008-2014
Title: The Innovative Mind of Marc Porat
Introduction
Marc Porat is a notable inventor based in Los Altos Hills, California. He has made significant contributions to the field of technology and business models, holding a total of 5 patents. His work focuses on enhancing the efficiency of buyer-seller interactions through innovative auction systems.
Latest Patents
One of Marc Porat's latest patents is titled "Method, system and business model for a buyer's auction with near perfect information using the internet." This invention discloses a methodology, system, and business model designed to facilitate a fully automated buyer's auction. The system significantly reduces transaction costs by providing buyers and sellers with near-perfect information about each other, including buyer preferences and competing sellers' offers. The implementation of multidimensional bidding minimizes market intelligence, search, bargaining, and transaction execution costs, creating more competitive and frictionless markets. This innovative auction system allows buyers and sellers to conduct transactions efficiently within a unified environment, thereby minimizing integration costs. Additionally, the buyer's auction generates commercially marketable proprietary information and a revenue stream for the auctioneer providing such a service.
Career Highlights
Throughout his career, Marc Porat has worked with various companies, including Perfect Commerce, LLC and Perfect.com, Inc. His experience in these organizations has contributed to his understanding of market dynamics and the development of his innovative auction systems.
Collaborations
Marc has collaborated with notable individuals such as Kevin J Surace and Paul R Milgrom. These partnerships have likely enriched his work and expanded the impact of his inventions.
Conclusion
Marc Porat's innovative contributions to auction systems demonstrate his commitment to enhancing market efficiency and reducing transaction costs. His patents reflect a deep understanding of buyer-seller dynamics and the potential of technology to transform traditional business models.
Inventor’s Patent Attorneys refers to legal professionals with specialized expertise in representing inventors throughout the patent process. These attorneys assist inventors in navigating the complexities of patent law, including filing patent applications, conducting patent searches, and protecting intellectual property rights. They play a crucial role in helping inventors secure patents for their innovative creations.