Small businesses don’t always have the capabilities or capacity to fulfill large contracts on their own. They may, however, be able to meet parts of a project’s requirements. By working in coordination with other companies, small businesses have the opportunity to take part in projects which would otherwise be closed to them. This brings revenue benefits and opportunities to gain experience in working on large contracts.
This document was created to help firms have a better understanding of what teaming agreements/joint ventures are and when they are applicable.
Included are descriptions of the basic teaming agreement and joint venture; the requirements of each and the benefits of each, as well. This document can be useful to small firms.