Buying a small business government contractor may not be as simple as a standard acquisition. This is particularly true if the small business wants to continue to qualify for federal small business set-aside and sole-source awards during negotiations. The U.S. Small Business Administration (“SBA”) treats stock options, convertible securities, and agreements to merge (including agreements in principle), as having a “present effect” on the power to control a concern. So if a letter of […]

A Note on Wording: New business owners typically say that they are the owners of a “company”. The word “company”, however, can be confusing because it is generally used to refer only to a limited liability company, or LLC. Texas permits businesses to be structured in many different ways, including corporations, partnerships (LPs, LLPS, etc.), and limited liability companies, among others. To avoid confusion, this article will use the word “entity” to refer to […]