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Auction system based on an interactive chat or short messaging system

IP.com Disclosure Number: IPCOM000130486D
Original Publication Date: 2005-Oct-25
Included in the Prior Art Database: 2005-Oct-25
Document File: 2 page(s) / 17K

Publishing Venue

IBM

Abstract

Disclosed is system and process that provides an end-to-end auction/procurement solution that's secure, easy to use interfaces, fully auditable controls, full administrative functions, and very affordable.

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Auction system based on an interactive chat or short messaging system

Disclosed is an auction/procurement system (i.e. applications and processes) with the following functions:

Administration

Access control - only pre-qualified users are granted access to the system, including anonimity protection where necessary Notification - appropriate users are advised (invited) on auction/procurement activities
Bulletin Board - for posting rules, announcements, news, contacts, etc.

Time Management - manage the start and end of an activity, scheduling, and calendar function.

   Reporting - documentation of activities Audit Trail - allows back tracking to authenticate/validate transactions Security - on top of the access control, there is a built-in encryption capability
Chat

Auction Administation - allows the auctioneer to manage the bidding process from start to finish
Bidding - allow buyers to post questions/clarifications prior to the start of the bidding, and enter their bid(s) during the bidding proper. Bidding can be in various formats.

Negotiation - facility to enter into private negotiations, as appropriate and necessary, prior to closing the transaction with the seller.

Contracting - complete the purchase order to consumate the agreement between the seller and winning buyer.

The Dynamic Trading Platform (auction/procurement system) is an all-encompassing end-to-end solution for businesses that require an auction/procurement system that is secure, easy to use interfaces, fully auditable controls, full administrative functions, and very affordable. The functional steps include the following:

Registration of Users - involves reviewing the credentials of registrants and creating the respective profiles, which will determine the extent of access and functional capability of each registrant.

Publication - involves the qualification and submission of the Buyer of the item(s) to be procured. Based on a pre-defined termplate which will include the minimum pertinent information necessary to enable a bidding.

Invitation - involves the setting of a date and time for the bidding, release of invitation to pre-qualified Sellers to participate in the bidding, acknowledgement of receipt of the invitation, confirmation of acceptance or rejection of the invitation of each invitee. A reminder notification will be sent to each confirmed invitee one
(1) working day prior to the date of bidding, which includes the schedule details and a brief of the subject of the bidding.

Administration - involves the conduct, coordination, monitoring, controls, support, and data/document storage related to the auction activities, all the way throug...