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:
Apr. 30, 2013
Filed:
Jul. 13, 2011
William R. Watt, Ii, San Jose, CA (US);
Matthew F. Ackley, San Jose, CA (US);
William J. Cornell, San Jose, CA (US);
William R. Watt, II, San Jose, CA (US);
Matthew F. Ackley, San Jose, CA (US);
William J. Cornell, San Jose, CA (US);
eBay Inc., San Jose, CA (US);
Abstract
A method, apparatus, system and non-transitory machine-readable medium are provided for declining auctions with interest bidding. According to one embodiment, offers are received from respective bidders in a bid receiving process to transact a financial instrument, the offers being expressed as offered interest rates at which the corresponding respective bidders are willing to transact the financial instrument. The bid receiving process is utilized in a declining auction characterized by a reducing a published interest rate at which the financial instrument is offered for sale. The reducing of the published interest rate is performed automatically and responsive to a lack of bidding activity. Further there is a determining whether at least one of the offers satisfies transaction criterion.