Tuesday, May 24, 2011
"Some friends of mine and I are forming a limited liability company to develop and market a mobile phone software application. There are 12 of us in total, and we live in three different states. Five of us will be developing the product in our spare time without putting in any money. Three of us just want to put in money without getting involved in running the company, while the remaining four will be putting in money as well as doing some consulting work to develop and market the product. Our lawyer has told us we will have problems setting up this company because of the federal securities laws. Say what? We're only looking to raise about $25,000."Rasmussen subscribers can log in to read the rest of this article.
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