Technology and auction software services company Xcira has received several patents that it says will safeguard technologies currently being applied in the pursuit of what it describes as “evolutionary changes within the auction industry.”
The protected intellectual property includes areas involving artificial intelligence, blockchain technology, and adaptive modeling that power dozens of use cases that the company says improve efficiency, add flexibility and reduce conversion times associated with online auction transaction optimization.
The technology covered in these patents protects a range of services, including:
1. Patent 10,096,060: An interest gauge in which participant profiles and asset description information are collected, analyzed, and used to modify the auction process to make the buyers’ and/or sellers’ transactional experience more efficient and effective.
2. Patent 10,134,086: Conversion enhancement within the auction environment such that an entity will analyze participant and asset information and define operational and/or transactional changes for the purpose of achieving optimized conversions.
The following recently issued patents complement existing intellectual property protections:
3. Patent 10,157,417: The monitoring of, and participation in, multiple simultaneous auctions by a remote bidder using a single bidding device.
4. Patent 10,074,120: The facilitation of the physical inspection of an object and the generation of reports resulting from the objective and/or subjective data collected during the inspection.
“As a technology leader, we continue to protect our technological advancements for our worldwide customers who rely on us to not only power their sophisticated businesses, but also provide continued technological differentiation through cutting-edge innovation,” Nancy Rabenold, chief executive officer of Xcira, said in a press release. The company’s products include auction management systems, live auction simulcasts, timed online auctions, automotive condition evaluation tools, floorplan platforms, and mobile bidding applications.
Xcira’s current intellectual property portfolio includes 17 issued patents with more pending.