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:
Mar. 10, 2009
Filed:
Mar. 11, 2001
Applicant:
Craig Schmidt, Sommerville, MA (US);
Inventor:
Craig Schmidt, Sommerville, MA (US);
Assignee:
i2 Technologies US, Inc., Dallas, TX (US);
Attorneys:
Primary Examiner:
Assistant Examiner:
Int. Cl.
CPC ...
G06Q 40/00 (2006.01);
U.S. Cl.
CPC ...
Abstract
In accordance with the present invention, a system and method for matching buyers and sellers in a marketplace accepts limit bids and offers into a central system. Periodically, an optimizing algorithm is executed to match buyers and sellers. The algorithm utilizes techniques to maximize global utility. After buyers and sellers are matched, a transaction price is calculated for each pairing. The transaction price is selected to ensure that each participant executes the transaction at that participant's best effective transaction price.