CombineNet Awarded U.S. Patent for Method to Determine Optimal Award Allocations in Advanced Sourcing Events

from earthtimes.org

CombineNet, the leading provider of advanced sourcing and optimization technologies, announced today that it was awarded a patent for its methodology to determine winning bids in combinatorial auctions, reverse auctions and exchanges. Awarded by the United States Patent and Trademark Office, U.S. Patent No. 7,305,363, “Method for Optimal Winner Determination in Combinatorial Auctions” is CombineNet’s third awarded patent related to the identification of optimal awards in combinatorial auctions, providing additional intellectual property protection for the company’s advanced sourcing technologies.

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