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No, we're not by any means thinking of selling equity to non-accredited investors directly. Perhaps "some legal obstacles" was not the best phrase to use. Ther
by sdurkin 18y ago
No, we're not by any means thinking of selling equity to non-accredited investors directly.
Perhaps "some legal obstacles" was not the best phrase to use. There are significant legal obstacles, and we're consulting with a corporate lawyer from the U. Chicago who has agreed to do some preliminary work pro bono.
Everything is in the early stages, and with corporate law the line between what's considered innovation and what's considered fraud is murky. Without annoying my partners by saying too much, we're confident we have a type of solution.
- webwright 18y agoI'd wager that if there was innovation to be done, we would've heard about it by now. If you do it, make sure you get a lawyer who specializes in securities law (a generic corporate lawyer is not your best bet). Seems like a lot of effort (and a TON of expense) for something that most securities lawyers would tell you is a bad idea...