REPRESENTATIVE JASON ALTMIRE SAID BUSINESSES COULD BEEN PENALIZED FOR USING VENTURE CAPITAL. WASHINGTON. A new legislation written by Jason Altmire, a Pennsylvania Democrat, is trying to help the small technology companies blossoming. The idea is these small businesses are able to qualify for federal research grants without being penalized for accepting venture capital money.
Is it certain that venture capitalists pour unlimited amounts of money into these fledgling businesses. It would alter the concept of a small - and independent - business.
This legislation it would be against that; it specifies that a small business could not give up an ownership stake of “50 percent or more” to a venture capital firm.
So far the legislation awaits Senate action.
This legislation it would be against that; it specifies that a small business could not give up an ownership stake of “50 percent or more” to a venture capital firm.
So far the legislation awaits Senate action.
By Kandy Mondragón.
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