OWNED BUSINESS ENTERPRISE Clause Samples
The "Owned Business Enterprise" clause defines the requirements and qualifications for a business to be recognized as owned by a specific group, such as minority, women, or veteran owners. Typically, this clause outlines the percentage of ownership and control that must be held by the designated individuals, and may require documentation or certification to verify eligibility. Its core function is to ensure that only genuinely qualifying businesses receive the benefits or preferences associated with such status, thereby promoting fairness and supporting targeted economic opportunities.
OWNED BUSINESS ENTERPRISE. Proposers must address how they intend to comply with the Orange County M/WBE Ordinance, No. 94-02 and amended by Ordinance No. 2009-21. The goal of certified minority/women business enterprise is 24% of the contract value for this project. The Ordinance also addresses minority/women group employment levels setting goals to encourage each Proposer to maintain 18% minority and 6% women employee workforce levels in specific categories.