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Service-Disabled Veteran-Owned Small Business Concern
Understanding Service-Disabled Veteran-Owned Small Business Concern
Definition & Meaning
A service-disabled veteran-owned small business concern (SDVOSB) is a type of small business that is at least 51 percent owned and controlled by one or more service-disabled veterans. This means that the veteran(s) must have a disability that is connected to their military service. Additionally, the management and daily operations of the business must be overseen by these veterans or, in cases of severe disability, by their spouse or permanent caregiver.
Table of content
Legal Use & context
The term service-disabled veteran-owned small business concern is primarily used in federal contracting and procurement processes. It is significant in the context of government contracts, where certain programs aim to support veteran-owned businesses. Legal areas related to this term include federal contracting law and small business regulations. Users can manage applications for SDVOSB status and related forms through resources like US Legal Forms, which provides templates and guidance for these processes.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A veteran who owns a landscaping business and has a service-connected disability applies for federal contracts as an SDVOSB. They meet the ownership and management criteria.
Example 2: A service-disabled veteran partners with their spouse to run a small consulting firm, ensuring that they maintain control over the business operations. (hypothetical example)
Relevant laws & statutes
The primary statute governing service-disabled veteran-owned small businesses is the Veterans Entrepreneurship and Small Business Development Act. This law outlines the qualifications and benefits available to SDVOSBs in federal contracting.
State-by-state differences
State
SDVOSB Certification Process
California
Requires additional state-specific documentation for certification.
Texas
Offers a streamlined application process for veterans.
Florida
Has specific programs to support SDVOSBs in state contracting.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Key Differences
Veteran-Owned Small Business (VOSB)
A small business owned by one or more veterans.
Does not require the owners to have a service-connected disability.
Small Business Concern
A general term for any small business meeting size standards.
Does not specify ownership by veterans or service-disabled veterans.
Common misunderstandings
What to do if this term applies to you
If you believe you qualify as a service-disabled veteran-owned small business, consider the following steps:
Gather documentation proving your service-connected disability.
Ensure that your business meets the ownership and control criteria.
Explore US Legal Forms for templates to assist with the application process.
If your situation is complex, consult a legal professional for tailored advice.
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