BUSINESS LAW

UNDELIVERED ORDERS The amount of orders for goods and services outstanding for which, the liability has not yet accrued. For practical puproses represents obligations incurred for which goods have not been delivered or services not performed. UNFAIR LABOR PRACTICE Action by either the employer or the union which violates the provisions of Executive Order 11491 […]

TAX or TAXES The contribution required of persons, groups, or businesses within a governmental jurisdiction for the support of governmental programs. Springtime brings a flood of questions about State taxes. TECH-NET Tech-Net is an electronic gateway of technology information and resources for and about small high tech businesses. It is a search engine for researchers, […]

SBIR and STTR Programs Description of the Small Business Innovation Research Program (SBIR): SBIR is a highly competitive program that encourages small business to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation’s R&D arena, high-tech innovation is stimulated and the United States […]

SBA – Small Business Administration An independent agency of the federal government and not to be confused with Small Business Association or variations thereof. The U.S. Small Business Administration (SBA) was created by Congress in 1953 to help America’s entrepreneurs form successful small enterprises. Today, SBA’s program offices in every state offer financing, training and […]

The Office of Small Business Development Centers (SBDC) Mission To provide management assistance to current and prospective small business owners. SBDCs offer one-stop assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations. The program is a cooperative effort of the private sector, […]

RATIO Denotes relationships of items within and between financial statements, e.g., current ratio, quick ratio, inventory turnover ratio and debt/net worth ratios. RECEIVABLE CONVERSION PERIOD – RCP Time between the sale of the final product on credit and cash receipts for the accounts payable. RECIPROCITY – SBA/DOT Certification Reciprocity for Disadvantaged Businesses The U.S. Small […]