The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jun. 13, 2023
Filed:
Apr. 15, 2021
United Services Automobile Association (Usaa), San Antonio, TX (US);
Brian Latronico, San Antonio, TX (US);
Teresa A. Mays, Helotes, TX (US);
Claudia Anne Luna, Boerne, TX (US);
David Anthony Phelps, San Antonio, TX (US);
Kevin W. Thornley, Spring Branch, TX (US);
Tracy Lent, New Braunfels, TX (US);
James Malcolm Spears, San Antonio, TX (US);
United Services Automobile Association (USAA), San Antonio, TX (US);
Abstract
An integrated transaction platform facilitates a transaction, such as a purchase of a vehicle or other item. The platform provides a pre-negotiated purchase price for the item to facilitate a transaction to purchase the item from a seller, the transaction being substantially frictionless from the buyer's perspective. The pre-negotiation can involve a reverse auction process in which sellers bid to sell the item to a buyer. After the buyer has identified a particular item for purchase, sellers that have the item available are notified to provide a bid indicating a price at which the seller is willing to sell the item. The lowest bid is selected, and a purchase agreement is finalized based on the lowest bid. After the agreement is finalized, the buyer can accept delivery of the item without further negotiation with the seller, and thus with substantially reduced friction compared to traditional purchase scenarios.