The PostPricing patent will be auctioned on April 2, 2008. Please visit the auction site for more information and to register.
| What is PostPricing? |
PostPricing is a revolutionary new payment option in which sellers provide items (information, goods, services, etc) to buyers before a price is set. Buyers use those items, decide a fair price, and then pay that price. |
| What are the advantages of PostPricing? |
PostPricing is a win-win breakthrough, unlocking value for both buyers and sellers. The value to buyers comes through the elimination of risk associated with traditional payment systems. Buyers can rest assured that they will never pay more for something than it is worth to them. It will benefit sellers by allowing a greater volume of sales, since many transactions will occur that buyer risk prevents under traditional payment systems. Click here for a detailed list of PostPricing's advantages. |
| Why does it work? |
The system tracks transactions in great detail, providing individual reputation ratings and statistics. Buyers and sellers can filter possible transaction partners based on this information. So if a buyer earns a reputation for paying low prices, it will affect his ability to engage in future PostPricing transactions. The cost of lost value from not being able to engage in future transactions provides buyers with an incentive to pay a fair price. Click here for a further explanation of why it works. |
| What markets can benefit most from PostPricing? |
While we believe PostPricing will eventually help to make all markets more efficient, it is especially valuable for information and services markets. The most important reason is that buyers are very uncertain about the value they will get from information and services, and this uncertainty often prohibits transactions and keeps these markets from growing to their full potential. Moreover, since information sellers have marginal cost near zero, the PostPricing system poses little risk to them - a transaction does not amount to a loss even when a buyer names a low price. Click here for examples of how PostPricing can improve particular markets.
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| Who should take advantage of PostPricing? |
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| What is the status of the invention? |
The invention was awarded a patent (#6578014) on June 10, 2003. Click here to see the full patent. |
| Who invented it? |
The inventor is Thomas Murcko, founder and CEO of WebFinance Inc., a
profitable privately held company exploiting opportunities at the
intersection of technology and finance. Among WebFinance's properties are
InvestorGuide, InvestorWords, WiserAdvisor, and
WebFinanceConsulting. |
| To explore business partnerships, email Tom Murcko or call (703) 865-7218. |
