I don't see how that passes "effort of others". They're clearly working in the sales and distribution business at that point. Now, if they then went around th

I don't see how that passes "effort of others". They're clearly working in the sales and distribution business at that point. Now, if they then went around the school and said to everyone, give us $1 and we'll pay you back by splitting half of the profits from our sale, then yes, that sounds very much like a security.