1. What is meant by intellectual property? Discuss the three major types.
Intellectual property is the actual ownership of an idea or a design or software code.
Three major types include:
Patents: A patent is an agreement between an inventor and the gover
1. What is a delay?
A delay is defined as any event that slows the performance of the work by a Government
contractor. A delay can either be government caused by the government and from contractors.
2. What is an excusable delay; explain FBI?
When is the use of competitive negotiations appropriate?
When the government needs much flexibility in the commercial marketplace.
When award is on a basis other than low price alone
Competitive negotiations provides a great range in the contr
1. What is a change order?
Discuss how contract changes take place through
unilateral and bilateral modifications.
A change order is a written order signed by the contracting officer directing the contractor to
make a change (without the contractors conse
1. To be considered an allowable cost, what five criteria must be met?
Allocability of the cost
Those Selected Costs
2. What are cost allowability, reasonableness, and allocability? Why are