On September 30, 2022, President Biden signed the SBIR and STTR Extension Act of 2022 (the Act), reauthorizing the Small Business Innovation Research (SBIR), Small Business Technology Transfer (STTR), and six pilot programs for three years, until September 30, 2025. The Act includes new due diligence and reporting requirements, award restrictions, and clawback provisions related to national security risks—particularly regarding firms with ties to China, Russia, North Korea, and Iran—and increased minimum performance standards for multiple SBIR/STTR award winners. The passage and signing of the Act averted a potential lapse of these programs, which were set to expire the day of the reauthorization.
Claud v.S. "Lex" Eley is a partner in Crowell & Moring's Corporate Group and has more than two decades of international transactional, private equity, venture capital, and general corporate experience. Lex focuses his practice on domestic and international mergers and acquisitions, joint ventures, and business transactions. A substantial part of Lex's work involves international transactions. He has represented clients in global and regional transactions involving countries on all continents, and serves as global transactional counsel for a number of clients.
Lex began his career representing manufacturing clients, particularly in pulp, paper, forest products, and packaging, and while his practice has expanded to include many other industries, including, healthcare, cybersecurity, information technology, consumer products, mining and minerals, automotive, and energy, he continues to be very active in traditional manufacturing industries for a number of long-standing clients. Lex's work for his clients is heavily weighted toward mergers and acquisitions, but has covered virtually all legal disciplines touching on his client's businesses. Lex served as outside general counsel to a pan-European paper and forest products company for a number of years while he was resident in Europe.