Hi there Bigger Pockets, was pointed here by a friend on this one as a resource.
I hate attorneys. Working with one on a possible commercial venture and they seem to think it's a security based on an "efforts of the promoter" argument. Has anyone encountered this?
I'll probably consult another attorney on it, but if anyone has resources or experience on this I'm interested. May cut down the costs to pay another attorney's yacht fees.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
4y
The Howey Test is how it's determined whether you're selling a security or not. You haven't described the business you're getting into, but look up the Howey test and consider that in light of your business.