I would like to buy 51% of a business that I have been involved with for 2 years as a manager. How long do I need to be 51% owner and operations manager to qualify as a bidder?
The short answer is “It depends.” There are a couple of scenarios where the outcome would be different. If we are looking at the purchase of the business and subsequent contracts from a purely procurement stand, there is no waiting time from becoming an owner to bidding on contracts. When a waiting time would come into play would be in an ethics case. If, for example, you have been a silent partner in the company for some time, but also held a position at a VA medical center where you would have influence in decisions, then there is an ethical waiting period. This is typically 2 years. If this is indeed the case, you can check with VA’s staff counsel that handles ethical questions.
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