Patent ID: 11908249
Assignee: EFFICIENT AUCTIONS LLC
Field: Digital communication (Electrical engineering)
Classification: CPC G  H | IPC G  H

Claim 15:
16. A method for validating encrypted bid submissions in a clock auction of one or more items in which bids are allowed at price points between clock prices, said method implemented on a computer system comprising at least one computer, said method comprising:
receiving, on a first computer of said computer system, an encrypted bid submission in a clock auction of one or more items, wherein said bid submission includes bidding data indicating at least one price or at least one quantity associated with one or more items, wherein bids are allowed at price points between clock prices, and wherein said bidding data is encrypted; and
validating, on said first computer, the encrypted bid submission in relation to one or more constraints on said bidding data, wherein said validating occurs while said bidding data is encrypted and without access to an associated encryption key.