Michael W Petersen

Title: Innovator Spotlight: Michael W. Petersen

Introduction

Michael W. Petersen is a notable inventor based in Richmond, VA, who has made significant contributions to the realms of technology and contract administration. With an innovative approach to improving processes, he has developed a patent that enhances efficiency and accountability in contract performance.

Latest Patents

Petersen holds a patent for a groundbreaking method titled “Administering a Contract Over a Data Network.” This computer-based method utilizes a server that can be accessed by multiple parties involved in contract performance through a data network like the Internet. The process involves the server receiving performance data from participating parties, which indicates the amount of work and materials involved under the contract. This data is critical in determining payment amounts based on an initial schedule of values associated with the contract's performance. The system facilitates seamless notifications of payment approvals to other parties via email, streamlining contract management.

Career Highlights

Currently, Michael W. Petersen is affiliated with Hart Business Solutions, L.L.C., where he applies his expertise to innovate and improve business processes. His single yet impactful patent demonstrates his commitment to advancing the field of contract administration through technology.

Collaborations

During his career, Petersen has worked alongside esteemed colleagues such as Sherwood Creedle and Tom Obermeyer. Their collaborative efforts at Hart Business Solutions reflect a shared drive for innovation and excellence in business solutions.

Conclusion

Michael W. Petersen’s contributions to contract administration through his inventive approach demonstrate the power of technology in enhancing business processes. His work continues to inspire innovation within the industry, and his patent serves as a testament to his dedication and ingenuity as an inventor.