Electronic auction processing and database system

• US 8,458,045 B1
• Filed: 10/04/2012
• Issued: 06/04/2013
• Est. Priority Date: 08/25/2009
• Status: Active Grant

• Current Assignee: Alex H Chan
• Original Assignee: AC Holding Company, LLC
• Inventors: Chan, Alex H
• Primary Examiner(s): Garg, Yogesh C
• Application Number:
  US13/645,376
• Time in Patent Office: 243 Days
• Field of Search: 705/26.1, 705/26.4, 705/37, 705/14.64
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 20/381 Currency conversion

Abstract

Systems, methods and computer program products for processing inputs of various formats to be used in an auction are described. In some implementations, a conversion application can be used to assist a user in setting a conversion ratio by which a service can be valued (e.g., for converting values between commercial and proprietary currency). In some implementations, a cash value of the service to be rendered can be defined. In these implementations, the conversion application can facilitate the determination of an appropriate conversion ratio by which the cash value can be converted to other currency value (e.g., to other proprietary currency).

Claims

1. A method comprising:

receiving, by a processor, valuation information that includes at least one of a first parameter or a second parameter from a first entity associated with a service, the first parameter associated with a first format and the second parameter associated with a second format, wherein the first format is associated with a non-virtual format and the second format is associated with a virtual format;

setting, by the processor, a conversion relationship based on the valuation information that includes at least one of the first parameter or the second parameter, the conversion relationship configured to convert parameters associated with the first format to the second format, or parameters associated with the second format to the first format;

receiving, from the first entity, an offer value associated with the service, the offer value associated with at least one of the first format or the second format;

receiving, from a second entity different from the first entity, a request associated with obtaining the service including receiving a third parameter and a fourth parameter with the request, the third parameter associated with the first format and the fourth parameter associated with the second format; and

processing, by the processor, the request including the third parameter and the fourth parameter based on the conversion relationship to determine whether the third parameter and the fourth parameter meet the offer value.

2. The method of claim 1, further comprising:

recording the request when the third parameter and the fourth parameter meet the offer value.

3. The method of claim 1, wherein setting the conversion relationship is performed to allow values in monetary format or values in non-monetary format to be converted into values in the non-monetary format or values in the monetary format, respectively.

4. The method of claim 3, wherein:

receiving at least one of the first parameter or the second parameter includes receiving the first parameter in the monetary format or the second parameter in the non-monetary format;

receiving the third parameter and the fourth parameter includes receiving the third parameter in the monetary format and the fourth parameter in the non-monetary format; and

processing the request includes processing the first parameter, the second parameter, the third parameter, and the fourth parameter based on the conversion relationship to determine whether the third parameter and the fourth parameter satisfy the first parameter and the second parameter.

5. A method comprising:

receiving, by a processor, a listing from a first entity, the listing providing a service or good and having an offer value, the offer value definable using at least one of a monetary format or a non-monetary format;

receiving, from a second entity different from the first entity, a request associated with obtaining the service or good including receiving a first value from the second entity, the first value having a first format selected from one of the monetary format or the non-monetary format;

determining, by the processor, whether the first value satisfies the offer value based on a conversion relationship, the conversion relationship configured to convert parameters associated with the monetary format to the non-monetary format, or parameters associated with the non-monetary format to the monetary format;

communicating, by the processor to the second entity, an outcome of the determination;

receiving, by the processor, a second value different from the first value from the second entity if it is determined, based on the conversion relationship, that the first value fails to satisfy the offer value, the second value having a second format different from the first format and selected from one of the monetary format or the non-monetary format; and

recording, by the processor, the request when the first value and the second value satisfy the offer value.

6. The method of claim 5, further comprising:

receiving the request associated with obtaining the offer includes receiving a request from the second entity to be processed as a service transaction through which the first entity obtains a service or good associated with the second entity and the second entity obtains the service or good associated with the first entity, the request including information associated with the service or good associated with the second entity, the service or good associated with the second entity having a tradable value defined by at least one of a monetary value or a non-monetary value.

7. The method of claim 5, wherein determining includes determining that the first value and the second value fail to satisfy the offer value, the method further comprising:

notifying the first entity that the first value and the second value fail to satisfy the offer value; and

receiving, in response to the notification, a request to proceed with recording the request from the first entity,

wherein recording the request is performed based on the request from the first entity.

8. The method of claim 5, wherein:

receiving the request from the second entity includes receiving a counteroffer as the request, the counteroffer specifying the first value and the second value from the second entity, wherein the first value and the second value is not equal to the offer value;

determining whether the first value and the second value satisfy the offer value includes determining whether a confirmation has been received from the first entity to accept the counteroffer from the second entity; and

recording the request is performed based on the confirmation from the first entity.

9. The method of claim 5, wherein receiving the request includes receiving the request in a bid, the method further comprising:

receiving a bid from a third entity to obtain the service or good associated with the first entity, the bid from the third entity including a third value in the monetary format and a fourth value in the non-monetary format,

wherein;

determining whether the first value and the second value satisfy the offer value includes determining whether a sum of the first value and the second value satisfies the offer value and whether the sum of the first value and the second value exceeds a sum of the third value and the fourth value; and

recording the request with respect to the first entity and the second entity is performed when the sum of the first value and the second value satisfies the offer value and exceeds the sum of the third value and the fourth value.

10. The method of claim 5, wherein:

receiving the first value includes the first value in the non-monetary format from the second entity; and

receiving the second value includes receiving the second value in the monetary format from the second entity, the second value in the monetary format representative of a difference between the first value in the non-monetary format and the offer value.

11. The method of claim 5, wherein:

receiving the first value includes the first value in the monetary format from the second entity; and

receiving the second value includes receiving the second value in the non-monetary format from the second entity, the second value in the non-monetary format representative of a difference between the first value in the monetary format and the offer value.

12. The method of claim 5, wherein receiving the first value from the second entity includes receiving the first value from an account associated with the second entity.

13. A system comprising:

a processor; and

a memory coupled to the processor and storing instructions, which, when executed by the processor, causes the processor to perform operations comprising;

receiving valuation information that includes at least one of a first parameter or a second parameter from a first entity associated with a service, the first parameter associated with a first format and the second parameter associated with a second format, wherein the first format is associated with a non-virtual format and the second format is associated with a virtual format;

setting a conversion relationship based on the valuation information that includes at least one of the first parameter or the second parameter, the conversion relationship configured to convert parameters associated with the first format to the second format, or parameters associated with the second format to the first format;

receiving, from the first entity, an offer value associated with the service, the offer value associated with at least one of the first format or the second format;

receiving, from a second entity different from the first entity, a request associated with obtaining the service including receiving a third parameter and a fourth parameter with the request, the third parameter associated with the first format and the fourth parameter associated with the second format; and

processing the request including the third parameter and the fourth parameter based on the conversion relationship to determine whether the third parameter and the fourth parameter meet the offer value.

14. The system of claim 13, wherein the memory further includes instructions which, when executed by the processor, cause the processor to perform operations comprising:

recording the request when the third parameter and the fourth parameter meet the offer value.

15. The system of claim 13, wherein the instructions cause the processor to set the conversion relationship to allow values in monetary format or values in non-monetary format to be converted into values in the non-monetary format or values in the monetary format, respectively.

16. The system of claim 13, wherein the instructions cause the processor to:

receive the first parameter in the monetary format or the second parameter in the non-monetary format;

receive the third parameter in the monetary format and the fourth parameter in the non-monetary format; and

process the first parameter, the second parameter, the third parameter, and the fourth parameter based on the conversion relationship to determine whether the third parameter and the fourth parameter satisfy the first parameter and the second parameter.