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:
Feb. 28, 2006
Filed:
Nov. 15, 2000
Ying Xie, San Jose, CA (US);
Elaine Chien, Santa Clara, CA (US);
Peter C. Williams, Santa Cruz, CA (US);
Ying Xie, San Jose, CA (US);
Elaine Chien, Santa Clara, CA (US);
Peter C. Williams, Santa Cruz, CA (US);
Sun Microsystems, Inc., Palo Alto, CA (US);
Abstract
The invention provides a system and method for determining the winner or winners of an on-line auction accepting proxy bids. Proxy bids are bids that do not have a bid price, but instead have ceiling price that indicates the highest price a bidder is willing to bid for goods. The system and method according to the invention are able to sort the bids from highest to lowest and determine a winner or winners depending on the amount of goods being offered for sale. The system then generates a winning bid price by determining the lowest bid required to win the auction. The winning bidder or bidders pay this winning bid price.