It is a fairly standard business practice to divide profits according to ownership ratio. And a joint venture made up of only small business venturers only pursuing small business set-asides can follow this business practice—or any business practice—to divide up its profits (limited only by any applicable state, local, or Tribal law). But SBA does have specific and strict requirements for allocating the profits of any joint venture (1) between a small business protégé and its SBA-approved large business mentor, and (2) that qualifies for and pursues socioeconomic set-asides (i.e., 8(a) Program, WOSB/EDWOSB, HUBZone, VOSB/SDVOSB) and includes non-similarly situated entities.
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Webinar Event! Top 21 Legal Mistakes in Federal Government Contracting, February 13, 2025, 1:00pm-2:30pm CST

Federal contracting rules and laws are complicated, and the rules aren’t always intuitive. Many contractors make legal mistakes routinely, involving everything from completing SAM profiles to calculating small business size to communicating with government contracting officers. Federal government contracts attorneys, Nicole Pottroff & Annie Birney of Koprince McCall Pottroff, will discuss the top 21 most common legal mistakes that contractors make time and time again. You will learn what these common mistakes are and how to avoid them. Please join us for this free webinar hosted by the Alaska APEX Accelerators. Register here.