Legal Question in Business Law in Nevada

Re: Selling shares of a private company

No form, Buy and sale agreenent,

Re: Selling shares of a private company

If law was just forms, law school wouldn't be 3 years. I concur with the attorney above - at least if NV law is anything like CA law. An attorney should be retained to draft a custom buy-sell agreement, based on the situation.

Re: Selling shares of a private company

Whether in Nevada or elsewhere, sales of shares of unregistered, unlisted securities are highly regulated and disclosures are required. The buyer has a high risk of losing his shirt and the seller has a high risk of incurring civil or criminal penalties. The lawyers, accountants, appraisers and consultants connected with the deal (if any) are also at risk. Therefore, creating or using a form is inappropriate, if not impossible.

This is not to say that "forms" covering some aspects of securities transactions don't exist. There are dozens of forms that are used from time to time to register, claim exemption from registration, report or otherwise document securities transactions. Some of these forms have eighty to 100 pages and need to be completed by experts.

Even if your proposed transaction is as simple as selling a 10% interest in your Nevada business to your brother-in-law, who already knows about the business because he has been its vice-president for the last 20 years, there are probably disclosures and other documentation that needs to be done with the assistance of a Nevada lawyer. And of course if you are selling 5% interests in your silver mine in the Comstock Lode to strangers, you've got a lot of legal work to do before you raise the first dime by selling securities.