What is a Limited Partnership?

A Limited Partnership, as compared to a general partnership, is formed by two or more people doing business. At least a person must act as the general partner. That person must have actual management authority for the day-day- activities of the company. This is in direct comparison to the other person(s)… Read more »

Federal Anti Kickback Act of 1986

Under government contract law, the Federal Anti Kickback Act of 1986 is a criminal law which prohibits contractors from giving, accepting, soliciting or arranging items of value in any form (gifts, certain discounts, cross-referrals between parties), either directly or indirectly for the purpose of inducing or rewarding another party for referrals of services paid for… Read more »

Price Realism Analysis vs Price Reasonableness Evaluations

Avoiding Confusion with FAR Price Reasonableness Determination and Price Realism Analysis Can Make the Difference in GAO Protest Outcomes. Price realism and price reasonableness are evaluation analysis theories that can cause confusion among government contractors when filing a bid protest.  Failure to understand the differences between price realism and price reasonableness can… Read more »

What is a Contract? Legal Binding Contract Terms and Definition

What is a contract? It is an agreement between two or more persons or entities which creates a legal obligation to do, or not do, a particular thing. In addition to having legally binding contract terms, a legally enforceable contract must have (i) a subject / offer, (ii) consideration, and (iii) two or more… Read more »