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:
Sep. 08, 2009
Filed:
Jan. 15, 2004
Glenn R. Seidman, Wood Side, CA (US);
Shawn Perleschi, Fremont, CA (US);
Glenn R. Seidman, Wood Side, CA (US);
Shawn Perleschi, Fremont, CA (US);
Other;
Abstract
A method and software apparatus for a short-bidding auction manager is disclosed. One embodiment allows potential buyers to submit short-bids, so named because they fall short of an auction seller's asking price, and collects the short-bids on behalf of the auction seller. Additionally, a buyer may submit a bid that is higher or lower than previous bids. While short-bids are below what is considered acceptable, such bids may be reviewed and individually accepted by the seller, but the highest short-bid is considered the best short-bid offered since the seller intends to realize the most money from the sale. Meanwhile, one embodiment waits for auction completion and automatically consummates transactions for the highest above asking price bid or bids but at any point in time during the auction, short-bids and/or acceptable bids so far may be consummated before the auction ends.