Anyone who ever visits a website to purchase airline tickets or accommodation and finds price fluctuations from one visit to the next, or who takes a ride with Uber and is charged differently for the same journey from one occasion to another, is experiencing the effect of Surge Pricing, also known as Dynamic Pricing.
This technology is now used by global corporations across a wide variety of industries including Tourism, Transportation and Retail.
This product is built around the interests of an Australian public company which is the parent and controlling entity of patents and other associated IP that enables Surge Pricing, based on supply and demand trends without the need for constant human intervention.
Its Summary of Patent states, relating to Inventory/Surge Pricing; “If a company varies price/rate or allocation in real-time electronically of their distributed inventory based on supply and demand, they are breaching our patent”
Just about any large-scale e-commerce business that utilises Surge Pricing to sell products or services in the online the environment is a potential infringer.
The following organizations are amongst those identified as infringers of this IP asset.
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