As defined by the US or other individual state, this is a specific type of business whose ownership is considered to be ethnically or economically disadvantaged and owns at least 51% of this business. The advantages of this condition include an increase in government contracts or access to more resources for this business. Such businesses are usually certified by the federal, state, or municipal government. An ethnic or economically disadvantaged group in the US is currently African-American, Hispanic, or Asian.
Black’s Law Online Dictionary
