Legal Question in Business Law in Florida
Looking to start a business and want to know the legal issues.
I would like to know the legality of my idea and what steps I should take to insure everything goes smoothly. What lawyer should I talk with? What additional information should I provide? Are there any other useful tips? Thank You.
Business Idea:
I plan to create a website that gives everyone a chance to safely invest and earn a flat annual rate of 10%. I will purchase large construction and mortgage loans and divide them into smaller shares of $500 a piece. Each share will generate $50 a year, being paid to the investor on a daily basis at $0.1369 per day. The larger loans will require some members to purchase the shares through a pre-order process. Each registered member can either continue to hold their shares and earn interest on them or decide to sell whenever they feel like it � at whatever price they feel comfortable with. Regardless of amount traded, a flat rate of $3 will be charged in order to buy or sell the share, this will be done to help pay fees and limit the constant trading of shares. Forms of payment will be checks and bank transfer while withdrawals will be made through checks.
1 Answer from Attorneys
Re: Looking to start a business and want to know the legal issues.
You probably need a ssecurities lisence for this idea. See a business lawyer. This will not be cheap to accomplish.
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