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It is illegal to publicly declare that you're looking for funding. You should take that down.
by earbitscom 15y ago
It is illegal to publicly declare that you're looking for funding. You should take that down.
- kdommeyer 15y agoIt is? I didn't know that. Do you have a source? EDIT: Nevermind. I found it. Rule 502(c) of federal Regulation D of the Securities Act of 1933 prohibits advertising or general solicitation for investors. http://www.sec.gov/rules/interp/33-7516.htm http://www.sec.gov/rules/interp/33-7516.htm
- earbitscom 15y agoA big portion of the JOBS act is dedicated to changing this. Try putting something about money or funding into your Angel List status update and they'll tell you that you can't talk about seeking funding publicly, and that any message that sets off their trigger will be reviewed.
- citizenkeys 15y agoSince you mention it, my start-up is also on AngelList. Just sayin'. http://angel.co/av-squid http://angel.co/av-squid
- larrys 15y agoSomething that would never get prosecuted even if worded incorrectly. Government doesn't go after small fish like this.
- citizenkeys 15y agoIt's completely legal to advertise that you're looking for money, like donations or crowdsource funding. Kickstarter, crowdtilt, and others make it their business model. What's not legal is to specifically advertise that you're looking for investors. I've been in the Bay Area for about two years now working on my start-up and/or a job. If anybody has any money to contribute or a job offer, please don't hesitate to email/call me. Seriously.
- earbitscom 15y agoGot it. I see the wording is carefully crafted. ;)