System and method for automated auctioning of web services

#1. Field of the Invention

#The present invention generally relates to web services. More specifically, the present invention relates to a system, method and storage medium embodying computer-readable code for automated auctioning of web services.

#2. Discussion of the Related Art

#The accompanying drawings, which are incorporated in and form a part of this specification, illustrate embodiments of the present invention and, together with the description, serve to explain the principles of the present invention:

#FIG. 1 shows an exemplary system in which embodiments of the present invention may function;

#FIG. 2 illustrates processes for providing automated auctioning of web services at a customer's side according to an embodiment of the present invention; and

#Reference will now be made to the preferred embodiments of the invention, examples of which are illustrated in the accompanying drawings. While the present invention will be described in conjunction with the preferred embodiments, it will be understood that they are not intended to limit the invention to these embodiments. On the contrary, the present invention is intended to cover alternatives, modifications and equivalents, which may be included within the spirit and scope of the invention as defined by the appended claims. Moreover, in the following detailed description of the present invention, numerous specific details are set forth in order to provide a thorough understanding of the present invention. However, the present invention may be practiced without these specific details. In other instances, well-known methods, procedures and components have not been described in detail as not to unnecessarily obscure aspects of the present invention.

#Embodiments of the present invention are directed to a system, method and storage media embodying computer-readable codes for providing automated auctioning of web services, in which optimal return/value for a given supply and demand of a web service is achieved by both a web service provider and a potential customer. In one embodiment, a network is provided to connect a number of potential customers with a number of web service providers. Each potential customer may request web services from any of these web service providers, and can integrate the web services with its own web site, if need be. Web services may, for example, describe specific business functionality exposed by a company, usually through an Internet connection, for the purpose of providing a way for another company or software program to use the services. Web services may be considered as programmatic components/elements that can be published, discovered and/or invoked over the network using open, interoperable protocols. With the web services from various web service providers integrated and/or placed on its web site, a potential customer is able to develop custom Internet applications and web sites that utilize one or more components running on remote machines to provide solutions tailored to a particular problem or need. The potential customer then in turn may provide services, through web services, to clients of the potential customer.

#In one implementation, standardized methods, heuristics, and/or algorithms are employed to allow the web service providers and the potential customers to engage in an automated auction type process to buy and sell web services. This allows for, among other advantages, web service providers to realize maximum revenue, potential customers to receive maximum value, and/or web service providers to have better load balancing. Using this design approach, optimal return/value for a given supply and demand of a web service is achieved from both the perspectives of the buy-side and sell-side of a web service. Therefore, a potential customer is able to develop a custom Internet application/solution using web services that tailor to his/her requirements, needs and pricing, while a web service provider is able to achieve maximum revenue potential and load balance.