IAA Receives Auction System Patent

By Staff Writer October 22, 2020

IAA Inc., a global digital marketplace connecting vehicle buyers and sellers, announced it has been awarded a patent by the U.S. Patent and Trademark Office for a “SYSTEM AND METHOD OF AUCTION MANAGEMENT.” The patent contains 20 claims that protect and recognize the valuable innovations developed by IAA for the company’s AuctionNow platform, which allows online auction participants to monitor and bid in multiple auctions simultaneously.

U.S. Patent Number 10,810,659 describes information technology systems that facilitate participation in multiple auctions offered in different locations at the same time. In particular, the user interface facilitates instantaneous information exchange for one or more auctions, expands information seamlessly for a selected auction, allows for bidding capabilities across multiple auctions and provides flexible capabilities based on buyer type.

“IAA AuctionNow, built on this patented technology, is the cornerstone of our global marketplace and provides the unmatched value of a completely customizable, flexible interface for our buying customers,” said John Kett, President and Chief Executive Officer for IAA. “The patent awarded for auction management underscores IAA’s steadfast commitment to providing technology innovation that benefits our customers and the industry.”

The patent awarded to IAA Inc. names inventors Jeff Hendershot, director of operational improvement, and Adam Hillard, director of IT, both from Impact Auto Auctions, an IAA company.

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Last modified on Thursday, 22 October 2020 00:44