§19.001. Definitions.
48 C.F.R. § 19.001
As used in this part—
Concern means any business entity organized for profit (even if its ownership is in the hands of a nonprofit entity) with a place of business located in the United States or its outlying areas and that makes a significant contribution to the U.S. economy through payment of taxes and/or use of American products, material and/or labor, etc. “Concern” includes but is not limited to an individual, partnership, corporation, joint venture, association, or cooperative. For more information, see 13 CFR 121.105.
Fair market price means a price based on reasonable costs under normal competitive conditions and not on lowest possible cost (see 19.202-6).
Industry means all concerns primarily engaged in similar lines of activity, as listed and described in the North American Industry Classification system (NAICS) manual.
Similarly situated entity means a first-tier subcontractor, including an independent contractor, that—
Has the same small business program status as that which qualified the prime contractor for the award (e.g., for a small business set-aside contract, any small business concern, without regard to socioeconomic status); and (2) Is considered small for the size standard under the NAICS code the prime contractor assigned to the subcontract.
Notes, amendments, and revision history
Amendments
[51 FR 2650, Jan. 17, 1986]
Authority
Authority: 41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.
Source
Source: 48 FR 42240, Sept. 19, 1983, unless otherwise noted.
Amendments
[51 FR 2650, Jan. 17, 1986]