It's not necessarily illegal to sell shares in a private company, but you're right that the manner in which you do it is highly regulated. See "Rule 502", in p

It's not necessarily illegal to sell shares in a private company, but you're right that the manner in which you do it is highly regulated. See "Rule 502", in particular clause C. http://www.law.uc.edu/CCL/33ActRls/rule502.html http://www.law.uc.edu/CCL/33ActRls/rule502.html This summary addresses your question directly (albeit in a footnote): http://www.icemiller.com/enewsletter/Bulletins/PEN/5Gen_Solicit_PEN.htm http://www.icemiller.com/enewsletter/Bulletins/PEN/5Gen_Soli... "Issuers are not permitted to solicit ... investors where it is not known whether or not they are accredited -- even if only accredited investors are actually allowed to invest." Seems that going "door to door" would violate that rule.