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:
May. 13, 2003
Filed:
Jun. 08, 1999
Sam E. Kinney, Jr., Sewickley, PA (US);
Vincent F. Rago, Pittsburgh, PA (US);
Glen T. Meakem, Sewickley, PA (US);
Robert G. Stevens, Pittsburgh, PA (US);
David J. Becker, Sewickley, PA (US);
Anthony F. Bernard, Wexford, PA (US);
William D. Rupp, Pittsburgh, PA (US);
Daniel C. Heckmann, Pittsburgh, PA (US);
Julia L. Rickert, Wexford, PA (US);
David M. Sobie, Telluride, CO (US);
FreeMarkets, Inc., Pittsburgh, PA (US);
Abstract
A method and system for conducting electronic online auctions between a plurality of potential bidders using differential index bidding is disclosed. The originator of the auction specifies one or more indexes as the basis for establishing a competitive price point. The index can be a published market index, or a proprietary price array developed by the buyer. The bidders specify bids as a percentage or absolute amount off of the one or more indexes. The originator of the auction compares the submitted bids and provides feedback to the bidders.