Information is one of the most vital assets of a company. Information may qualify as a trade secret under various federal and state laws. It is imperative that a company protect its trade secrets with non-disclosure agreements (NDA). Without the use of NDAs, a company risks losing valuable legal protection and competitive advantages.

Contracts are an everyday part of business. The obligations under most contracts are diligently performed. Serious disputes do occur, however, and what is written in your contract will determine your rights and obligations. Unfortunately, all too often contracts are signed that do not embody the full agreement of the parties or adequately address critical issues. The shortcomings of a contract usually come to light at the worst possible time – when a dispute arises.

Federal copyright law is the most important legal protection for computer software. The 1976 Copyright Act generally gives the owner of software the exclusive right to use it and to authorize others to reproduce it. Basic copyright protection attaches upon creation, but important legal protections under the law require registration of the copyright with the U.S. Copyright Office of the Library of Congress. Unfortunately, by failing to register, companies often fail to take full advantage of the rights and protections afforded copyrights.

When procuring products, governments around the world historically have shown a preference for domestically produced products. Laws exist that require government funds to be used only for the purchase of domestic products, or at least provide a price preference for such products. The law implementing the U.S. Government’s preference for domestic products is known as the Buy American Act (“BAA”). The BAA, however, is not always applicable due to the Trade Agreements Act (“TAA”). The TAA allows for the procurement of products from certain countries other than the United States .

All companies face a myriad of employment laws and regulations. In addition to the laws found in the commercial sector, government contractors are burdened with additional laws and regulations intended to implement government policies. The laws and regulations affect the complete spectrum of the employment process – from hiring to firing and everything in between. Failure to comply with these laws can lead to a variety of consequences, including lawsuits, criminal penalties, government imposed fines, debarment and cancellation of contracts.

Proprietary information is often disclosed in proposals, regardless of whether a company is responding to a commercial or government request for proposal (“RFP”). In responding to a commercial RFP companies are free to negotiate whatever contractual provisions they deem necessary to protect proprietary information. In responding to government RFPs, however, the rules governing proprietary information are primarily provided for in statutes and regulations. As such, companies know, or at least should know, what is acceptable and required by the government.

An operating agreement helps your LLC by guarding your limited liability status, establishing a member’s ownership percentage and share of profits or losses, heading off financial and management misunderstandings, establishing procedures for members being added to or leaving the company, and making sure your business is governed by your own rules — not the default rules of your state.

It is not unusual to have questions regarding a procurement. However, when those questions concern possible improprieties in the solicitation, a contractor must address such questions in a timely manner or risk losing the right to challenge the possible improprieties. If a contractor is unable to resolve the issue directly with the agency, the contractor’s only path for resolution is filing a protest.