Currency-time line transaction system and method

Details Currency-time line transaction system and method Currency-time line transaction system and method

2007-11-20

2007-11-20

Garg, Yogesh C. (Department: 3625)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Electronic shopping

C705S027200

Reexamination Certificate

active

10748856

ABSTRACT:
Rather than the traditional methods of bilateral costing, namely either fixed pricing or an auction type environment, this unique method allows both the buyer and seller to have an influence over the price of the products or service being exchanged in the transaction, while also factoring and controlling the time the product or service is available to potential buyers into the sale price. The potential buyer makes a value offer which may include a price offer or time offer. Where the buyer makes a value offer, they are offering to purchase a time unit in order to purchase the product, wherein the remaining time in reduced according to the amount of time units purchased and the current price is raised according to the price of the time units. Price offers and time offers are interdependent. A time offer entry will show the corresponding price on the currency axis (currency can be anything that can be exchanged at a value) and a price offer entry will show the corresponding time on the time axis.

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Spencer Chin, Reverse auctions come home to roost—Allocation does little to dampen OEM enthusiasm for online tool, EBN. Manhasset: Dec. 8, 2003, p. 1 http://proquest.umi.com/pqdweb?did=484724091&sid=1&Fmt=3&clientld=19649&RQT=309&VName=PQD.

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