Patents by Inventor Orin Hite

Orin Hite has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • AUCTION METHODS AND SYSTEMS
    Publication number: 20140365326
    Abstract: A novel online auction system in which both sellers and buyers are compelled to bid their “true value”. Potential buyers solicit desired items or services and submit sealed bids. A demand curve is created based on buyer bids, and a potential seller can use the curve to create its own sealed bid. A winning seller is determined, however the system uses the bid of the second-lowest bidding seller to establish the ultimate group of winning buyers and sale price. Winning sellers can choose lower prices to capture higher sale quantities. Second or multiple transactions can be implemented from a single bid, if included in the winning set of bids.
    Type: Application
    Filed: March 31, 2014
    Publication date: December 11, 2014
    Inventor: Orin Hite
  • Auction methods and systems
    Patent number: 8688533
    Abstract: A novel online auction system in which both sellers and buyers are compelled to bid their “true value”. Potential buyers solicit desired items or services and submit sealed bids. A demand curve is created based on buyer bids, and a potential seller can use the curve to create its own sealed bid. A winning seller is determined, however the system uses the bid of the second-lowest bidding seller to establish the ultimate group of winning buyers and sale price. Winning sellers can choose lower prices to capture higher sale quantities. Second or multiple transactions can be implemented from a single bid, if included in the winning set of bids.
    Type: Grant
    Filed: October 29, 2010
    Date of Patent: April 1, 2014
    Inventor: Orin Hite
  • AUCTION METHODS AND SYSTEMS
    Publication number: 20110153449
    Abstract: A novel online auction system in which both sellers and buyers are compelled to bid their “true value”. Potential buyers solicit desired items or services and submit sealed bids. A demand curve is created based on buyer bids, and a potential seller can use the curve to create its own sealed bid. A winning seller is determined, however the system uses the bid of the second-lowest bidding seller to establish the ultimate group of winning buyers and sale price. Winning sellers can choose lower prices to capture higher sale quantities. Second or multiple transactions can be implemented from a single bid, if included in the winning set of bids.
    Type: Application
    Filed: October 29, 2010
    Publication date: June 23, 2011
    Inventor: Orin Hite