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:
Dec. 20, 2011
Filed:
Mar. 23, 2010
Andrey Yruski, San Francisco, CA (US);
Semion Yaruski, San Francisco, CA (US);
Andrey Yruski, San Francisco, CA (US);
Semion Yaruski, San Francisco, CA (US);
Chiching, Inc., San Francisco, CA (US);
Abstract
An online marketplace is established where sellers compete by offering to sell a mass quantity of a specific product, referenced by a unique product ID. A successful sale is determined at a time that maximizes a group of buyers' offers for the specific product. At the determined time, both the sellers' offers and the buyers' offers for the specific product are separately sorted from the lowest price offer to highest price offer. Competing sellers are awarded sales contingent on one or more buyer offers remaining after each seller having a lower sell price is satisfied for its entire quantity. Sells for each successful seller are satisfied starting from a buyer's offer having a lowest buy price and increasing to successively higher buy prices of the remaining buyers' offers, until the seller's entire quantity of the listed product is satisfied.