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On January 2, 2013, the President signed the Defense Authorization Act (NDAA). As passed by the House of Representatives, the NDAA included more than a dozen provisions related to small businesses. Although few survived into the final bill, the adopted provisions continue a pattern of expanded opportunity for small business along with harsher penalties for misrepresentation of size status and failure to follow small business regulations. Overall, the NDAA provides a mixed bag of small business reforms. The article, written by Partner Les Lepow and Associate Damien C. Specht, addresses both the opportunities and the risks for small businesses.