Validation of a supplier's diverse status is required for participation in the Valeant Supplier Diversity initiative. Certification documents from the following qualified agencies are acceptable:
- United States Small Business Administration (SBA)
- National Minority Supplier Development Council (NMSDC) or its affiliates
- Women's Business Enterprise Council (WBENC) or its affiliates
- City, State, or Federal Certification Agencies
- National Gay & Lesbian Chamber of Commerce (NGLCC)
What type of business does Valeant consider as a "diverse supplier"?
Minority Business Enterprise (MBE)
As defined by the National Minority Supplier Development Council (NMSDC), the business must have ownership by minority individuals meaning the business is at least 51% owned by such individuals or, in the case of a publicly-owned business, at least 51% of the stock is owned by one or more such individuals. Further, the management and daily operations are controlled by those minority group members.
As defined by the NMSDC’s program, a minority group member is an individual who is a U.S. citizen with at least 1/4 or 25% minimum (documentation to support claim of 25% required from applicant) of the following:
- Asian-Indian - A U.S. citizen whose origins are from India, Pakistan and Bangladesh.
- Asian-Pacific - A U.S. citizen whose origins are from Japan, China, Indonesia, Malaysia, Taiwan, Korea, Vietnam, Laos, Cambodia, the Philippines, Thailand, Samoa, Guam, the U.S. Trust Territories of the Pacific or the Northern Marianas.
- Black - A U.S. citizen having origins in any of the Black racial groups of Africa.
- Hispanic - A U.S. citizen of true-born Hispanic heritage, from any of the Spanish-speaking areas of the following regions: Mexico, Central America, South America and the Caribbean Basin only. Brazilians shall be listed under Hispanic designation for review and certification purposes.
- Native American - A person who is an American Indian, Eskimo, Aleut or Native Hawaiian, and regarded as such by the community of which the person claims to be a part. Native Americans must be documented members of a North American tribe, band or otherwise organized group of native people who are indigenous to the continental United States and proof can be provided through a Native American Blood Degree Certificate (i.e., tribal registry letter, tribal roll register number).
In addition, a minority business may be certified as a minority "controlled" enterprise if the minority owners own at least 30% of the economic equity* of the firm. This occurs when non-minority institutional investors contribute a majority of the firm’s risk capital (equity). Under this special circumstance, a business may be certified as a minority "controlled" firm if the following criteria are met:
- Minority management/owners control the day-to-day operations of the firm.
- Minority management/owners retain a majority (no less than 51%) of the firm’s “voting equity”.
- Minority owner/s operationally control the board of directors (i.e., must appoint a majority of the board of directors).
Woman Business Enterprise (WBE)
As defined by the Women’s Business Enterprise National Council (WBENC), the business must be at least 51% owned, controlled, and operated by a woman or group of women. A woman owner or female designate must also hold the highest office within the company on a day-to-day basis. The woman managing the day-to-day operations must possess industry expertise.
Woman-Owned Small Business (WOSB)
As defined by the Small Business Administration (SBA), the business must be at least 51% owned and controlled by one or more women, and primarily managed by one or more women. The women must be U.S. citizens. The business must be "small" in its primary industry in accordance with SBA's size standards for that industry. In order for a WOSB to be deemed “economically disadvantaged,” its owners must demonstrate economic disadvantage in accordance with the requirements set forth in the final rule.
Small Disadvantaged Business (SDB)
As defined by the US Small Business Administration (SBA), the business must be owned and controlled by one or more socially and economically disadvantaged persons as defined by DBE Regulation 49 CFR Parts 23 and 26. All eligible owners must affirm that they are members of a disadvantaged group (for example, an eligible ethnic minority group or female). In addition, the personal net worth of each eligible owner applicant must be less than $750,000, excluding the values of the applicant's ownership interest in the business seeking certification and the owner's primary residence.
Businesses that are 8(a) certified are certified as SDBs. Since October 2008, small businesses can self-represent their status as a SDB. To self-represent as an SDB, register your business in the System for Award Management.
Service-Disabled Veteran Owned Small Business (SD-VOSB)
As defined in section 3(q) of the US Small Business Act (15 U.S.C. 632(q)) and the Small Business Administration’s (SBA’s) implementing SDVOSBC Program Regulations (13 C.F.R. 125), the small business must be at least 51% owned and controlled by one or more disabled veterans, the home office must be located in the United States and the home office cannot be a branch or subsidiary of a foreign corporation, foreign firm or other foreign based business. A disabled veteran is a veteran of the U.S. Military, Naval or Air service.
Veteran-Owned Small Business (VOSB)
As defined in section 3(q) of the US Small Business Act (15 U.S.C. 632(q)) and the Small Business Administration’s (SBA’s), the small business must be: (i) at least 51% unconditionally owned by one or more veterans (as defined at 38 U.S.C. 101(2)); or in the case of any publicly owned business, at least 51% of the stock of which is unconditionally owned by one or more veterans; and (ii) whose management and daily business operations are controlled by one or more veterans.
HUBZone Small Business (HUBZ)
As defined by the US Small Business Administration, the small business must be controlled by a U.S. citizen with a principle office located in a HUBZone. Thirty-Five percent of its employees must also reside in a HUBZone.
Lesbian, Gay, Bisexual and/or Transgender Owned Business (LGBTBE)
As defined by the National Gay & Lesbian Chamber of Commerce (NGLCC), the business must be at least 51% owned, operated and controlled by LGBT individuals that are U.S. citizens or Legal Resident Aliens.
Business Enterprises Owned by People with Disabilities (BEPD)
The business must be at least 51% owned and controlled by a disabled person or service-disabled individual. A disabled person is a person who has a physical, mental, or emotional impairment, defect, ailment, disease, or disability of a permanent nature, which in any way limits the selection of any type of employment for which the person would otherwise be qualified or qualifiable.