Weekly Update for Government Contractors and Commercial Businesses – May 9, 2024
If you have questions concerning the content below, please visit this link. Upcoming Events: Register to attend PilieroMazza’s upcoming events here. Recent Thought Leadership: Check out PilieroMazza’s recent client alerts and blogs here. Podcasts: Listen to PilieroMazza’s podcasts GovCon Live! here and Clocking in with PilieroMazza here. LABOR & EMPLOYMENT Clocking in with PilieroMazza: FTC Non-Compete Ban Attacked by Businesses: What You Need to Know, PilieroMazza Podcast, Nichole D. Atallah, Sarah L. Nash. Click here to access the podcast. Federal Trade Commission (FTC) Final Rule: Non-Compete Clause . . . Read More
Weekly Update for Government Contractors and Commercial Businesses – May 2, 2024
If you have questions concerning the content below, please visit this link. Upcoming Events: Register to attend PilieroMazza’s upcoming events here. Recent Thought Leadership: Check out PilieroMazza’s recent client alerts and blogs here. Podcasts: Listen to PilieroMazza’s podcasts GovCon Live! here and Clocking in with PilieroMazza here. LABOR & EMPLOYMENT FTC Non-Compete Ban Attacked by Businesses: What You Need to Know about the Ban, PilieroMazza Client Alert, Nichole D. Atallah, Sarah L. Nash On April 23, 2024, the Federal Trade Commission (FTC) announced a final . . . Read More
Is It Time for Regulations on GSA’s Contractor Teaming Arrangements?
In the late 1990s, the General Services Administration (GSA) created the concept of Contractor Teaming Arrangements (CTAs). Unlike the contractor teaming arrangements described under FAR 9.601, which simply describe a joint venture or prime contractor/subcontractor relationship, the GSA created a wholly new type of contracting team where all members of the team have privity[1] with the federal government and are all co-prime contractors…supposedly. In this blog, PilieroMazza reviews the limited rules governing CTAs and the impact on government contractors’ ability . . . Read More
Weekly Update for Government Contractors and Commercial Businesses – April 25, 2024
If you have questions concerning the content below, please visit this link. Upcoming Events: Register to attend PilieroMazza’s upcoming events here. Recent Thought Leadership: Check out PilieroMazza’s recent client alerts and blogs here. Podcasts: Listen to PilieroMazza’s podcasts GovCon Live! here and Clocking in with PilieroMazza here. GOVERNMENT CONTRACTS Federal Acquisition Regulation (FAR) Council Final Rule: Sustainable Procurement On April 22, the Department of Defense, General Services Administration, and National Aeronautics and Space Administration published a Final Rule amending the FAR and updating regulations . . . Read More
Unlocking the Potential of Phantom Equity: Incentive and Compensation Strategies to Attract and Retain Top Talent
Navigating the landscape of employee incentives can be complex, particularly when exploring non-traditional compensation methods. Phantom stock, also known as synthetic equity, offers a unique solution for business owners seeking to incentivize and retain key personnel without giving away ownership in the company. Below, PilieroMazza attorneys answer commonly asked questions regarding the nature of phantom stock, outlining its structure, benefits, and the strategic considerations involved with this valuable tool for attracting and retaining top talent. What is a phantom plan . . . Read More
Corporate Transparency Act, Part 1: Constitutionality, Exemptions, and Substantial Control
The Corporate Transparency Act (CTA), which came into effect on January 1, 2024, has significant implications for government contractors and commercial businesses. This client alert summarizes recent developments in the CTA—including constitutionality, physical office requirements, unpopulated joint ventures, and substantial control—to help businesses comply with and avoid harsh enforcement penalties. If you formed an entity on or after January 1, 2024, and are not subject to one of the exemptions, then you must file your initial BOI report within 90 days . . . Read More
Focus on S Corporations, Part 1: Choosing the Right Entity to Meet Your Small Business Goals
Most business owners understand the need to create an entity to operate their business. However, beyond general knowledge, many owners are unsure of when is the right time to create an entity and which type of entity makes sense for their business goals. These choices are complex and vary for each type of business. This is the first in a series of blogs focused on S Corporations (S Corps) where attorneys in PilieroMazza’s Corporate & Organizational Governance Team explore different . . . Read More
Settlements and Judgments from FCA and Fraud Matters Top $2.68 Billion in 2023
On February 22, 2024, the Department of Justice (DOJ) released its annual statistical report (Annual Report) regarding settlements and judgments obtained in the False Claims Act (FCA) and fraud matters for Fiscal Year (FY) 2023. Over the course of the fiscal year, which ended on September 30, 2023, the government recouped $2,689,447,914, a 20% increase compared to FY 2022 but well below the average annual recoveries over the last 15 years (approximately $3.6 Billion). Below are key takeaways from the . . . Read More
Turning $1.6 Million Into $53 Million: Key Takeaways from Eyebrow-Raising FCA Ruling
On January 20, 2023, the U.S. District Court for the District of Columbia entered a judgment in the amount of $1,679,450.16 in favor of the U.S. (the government ) in a False Claims Act (FCA) litigation against Gen Digital, Inc. (formerly known as Symantec Corporation and NortonLifeLock Inc.). Although any adverse judgment in an FCA matter might be seen as a disappointment, the government requested a total judgment in the case of over $1 Billion. Accordingly, the defendants could treat . . . Read More
Weekly Update for Government Contractors and Commercial Businesses – February 1, 2024
If you have questions concerning the content below, please visit this link. Upcoming Events: Register to attend PilieroMazza’s upcoming events here. Recent Thought Leadership: Check out PilieroMazza’s recent client alerts and blogs here. Podcasts: Listen to PilieroMazza’s podcasts GovCon Live! here and Clocking in with PilieroMazza here. GOVERNMENT CONTRACTS Focus on SBA’s SBIC Program, Part 3: Demystifying the Intricacies of the SBIC Application Process, PilieroMazza Blog, Isaias “Cy” Alba, IV, Robert Troiano The Small Business Investment Company (SBIC) program is emerging as a powerful financial . . . Read More