Sophia Li

US Patent:

20050108144, May 19, 2005

Filed:

Nov 19, 2003

Appl. No.:

10/716909

Inventors:

Robert Longman - Chicago IL, US
Sophia Li - Chicago IL, US

International Classification:

G06F017/60

US Classification:

705037000

Abstract:

The present invention provides a new method and system for conducting sealed offer online auctions. Unlike traditional auctions where buyers bid on sellers' items, wish list auction allows buyers to post online listings and attracts sellers to place item offers tailored to the buyers' needs. In a wish list auction, buyers need only to post what they are searching for, and the sellers will place a sealed offer containing information about the respective items they possess, such as prices, detailed descriptions, pictures, and transaction terms. If the buyer find any fitting offers, he/she will either accept the offering price or to make a counter offer to the seller. The seller in turn can either accept or decline a counter offer from the buyer. The winner of a wish list auction can be greater than one since buyer can accept multiple offerings from multiple sellers. Since buyers are spared of searching duty, sellers are freed from fee charges due to online auction providers, as in all cases of traditional online auctions. Instead, buyers are required to pay for service costs to the online auction provider based on the number of offers transacted in each wish list auction.

US Patent:

20050114225, May 26, 2005

Filed:

Nov 24, 2003

Appl. No.:

10/720914

Inventors:

Robert Longman - Chicago IL, US
Sophia Li - Chicago IL, US

International Classification:

G06F017/60

US Classification:

705026000

Abstract:

The present invention provides a fresh method and system for conducting sealed offer online auctions for the purpose of price discovery related to new products and services. Instead of the traditional marketing scheme, the present invention harmonizes the theory of price discovery in economics with the theory of sample marketing. The purpose of a New Product Auction is to raise awareness of a particular product through online actions while discover the true market price for that product in order to establish a selling price later on. In a New Product Auction, the seller/marker of a new product will offer a set amount (greater than one) of that product in a no reserve online auction. The seller/maker will give description about the usages and benefits of the product, and buyers will place sealed bid on such new product based on their perception of value about that product. The auction has a scheduled deadline tracked by the auction system provider and selected by the seller/maker of the product; all bids are sorted based on time of entry and are sealed during the auction process. Winners of the auction will vary depending on diverse scenarios (as addressed in Detailed Description). Each buyer is entitled to only one such product if he/she wins. The winning price of such an auction will be a single price for all winners, calculated based on a selected statistical averaging method. The winners will be required to leave online comments about the product upon receipt of the product. The seller/maker then will list another round of New Product Auction for the same product, and the bidding process will repeat itself, except that the winners in the first round of auction will not be allowed to participate again regarding the same product. The second round of bidders will determine their bids based on their valuation of the new product and the feedbacks from the first round of winners. A seller/maker can select any number of rounds sufficient enough for it to determine the true market price before making a serious commitment to manufacture or market such a product.

US Patent:

20050209916, Sep 22, 2005

Filed:

Mar 18, 2004

Appl. No.:

10/803321

Inventors:

Robert Longman - Chicago IL, US
Sophia Li - Chicago IL, US

International Classification:

G06F017/60

US Classification:

705014000

Abstract:

The present invention provides a fresh method for generating customer loyalty through stock related incentives. Instead of the traditional stock incentive plans for only employees and investors, the present invention stresses the crucial importance of customers in an increasingly complicated business world. In a reward program dedicated to customers, customers will receive a set amount of stock options (or stocks) according to their revenue generating potentials. The number of stock options (or stocks) will continue to be distributed to customers throughout the business reporting cycle. (quarterly, semi-annually, or annually) based on each customer's contribution in generating corporate revenues. Overtime, customers will become significant stockholders of a company, and they will continue to reward the company with their loyalty not just through words, but through actions given the fact that the future growth and profit potential of the company are of personal interests to the customer stockholders.

US Patent:

20060229910, Oct 12, 2006

Filed:

Apr 8, 2005

Appl. No.:

11/102373

Inventors:

Robert Longman - Chicago IL, US
Sophia Li - Chicago IL, US

International Classification:

G06Q 10/00
A61B 5/00

US Classification:

705002000, 600300000

Abstract:

The present invention provides a fresh method and system for truly automated online prescription purchases while providing improved security for issuing prescription simultaneously. Within the said online pharmacy network, both patients and doctors (M.D.s) are registered users. Doctors (M.D.s) will be verified by one of the authorities, such as the American Board of Medical Specialties (ABMS), an organization that maintains a database of physician board certification information on more than 700,000 specialty physicians representing 36 medical specialties and 88 subspecialties. ABMS contains information primary sourced from 24 recognized medical specialty boards, not self reported by physicians, and is fully recognized by key healthcare accreditation organizations for credentialing purposes. Once a doctor's status is verified, he/she has the authority to issue online prescriptions or approve patients' online prescription requests within the said online pharmacy network. Patients who wish to purchase prescription online will register with the said online pharmacy network and provide personal information such as credit card numbers, email addresses, and etc. Once a patient is registered with the said online pharmacy network, he/she has the ability to request an online prescription that will be used towards prescription purchases within the said online pharmacy network. A patient can choose from diverse payment methods and delivery preferences without obtaining or dropping off a conventional paper prescription at a pharmacy that has a physical location for pick-up. The present invention will reduce the likelihood of prescription abuse by avoiding counterfeit paper prescriptions, improve the efficiency of the prescription purchase by automating the processing of prescription writing and dropping off, permitting patients who wish to order discounted prescription drug online without adopting the existing prescription fax-in or mail-in methods.

US Patent:

20070150402, Jun 28, 2007

Filed:

Dec 28, 2005

Appl. No.:

11/320133

Inventors:

Robert Longman - Chicago IL, US
Sophia Li - Chicago IL, US

International Classification:

G06Q 40/00

US Classification:

705037000

Abstract:

The present invention provides a method and system for conducting an open online auction. The seller will provide both a minimum price to which he/she is willing to sell an item and a desired price that is higher than the minimum price. The minimum price and desired price set by the seller are unknown to potential buyers. During the auction duration, the price of an item will fluctuate between the minimum price and desired price set by the seller. Potential buyers have the option to purchase an item under the present invention at any time during the auction period and end the auction upon his/her purchase, however, the price at which potential buyers is willing to purchase varies from one bidder to another. If no buyer is willing to purchase the item at the price range between seller's minimum price and desired price during the auction period, the auction will end with no winner. The auction has a scheduled deadline provided by the auction system provider and selected by the seller of the item.

US Patent:

20050091144, Apr 28, 2005

Filed:

Oct 28, 2003

Appl. No.:

10/696441

Inventors:

Robert Longman - Chicago IL, US
Sophia Li - Chicago IL, US

International Classification:

G06F017/60

US Classification:

705037000

Abstract:

The present invention provides a method and system for conducting a sealed offer online auction. For every bidder, he/she will send in only one offer to the online system on the item he/she is bidding on. Their offers are kept sealed from other bidders, but are open to only the seller of the item. These offers are arranged in an order not by price, but according to the time when the offers are placed. The seller can end the auction anytime up to the auction deadline by accepting an offer from one of the bidders. The accepted offer need not be the highest offer at the time; however, it is reasonable to assume that the seller will accept the highest offer at the time. In the case of same highest offer made by more than one bidder, the seller can choose any one of those highest offer at the seller's discretion prior to the auction deadline. The seller can also decline an offer from any bidder based on the bidder's feedback history listed with the online auction system provider prior to the auction deadline. Only during the period before the auction ends can the seller disqualifies an offer from a bidder by using the method of declining an offer. If the seller chooses not to end the auction prior to the scheduled auction deadline, the winner of the auction will be the bidder who place the highest bid on the item at the auction deadline, and the seller is obligated to accept this highest offer regardless seller's preference. In the case of same highest offer made by more than one bidder, the winner will be the bidder who first places the highest offer according to the online auction system time tracker. Bidders can also retract his/her offer prior to the auction closing. Once an offer is retracted, the bidder who retracts the offer will be automatically disqualified for placing any future offer on the item. However, once the seller accepts an offer, the auction ends and no offers can be retracted.