Legal Question in Business Law in New Jersey

First, you should have your tax and business lawyer form a LLC. Secondly. you should review the business plan with your lawyer to make sure it would not be classified as "gambling."

I hope this helps!

Ron Cappuccio

My colleague is correct in that you should form an entity to limit your liability and possibly provide tax efficiencies (though not necessarily an LLC).. In addition, you may need to get a license (permission) from the game manufacturer to run such a tournament.

I represent tech and gaming startups. Feel free to ping me offline.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

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Regards to specific operating licenses, it is doubtful that there is anything specific that you will need to obtain. There are of course a number of legal considerations in any event. For example, you need to consider your business and tax structure, your IP (trademark, copyright concerns), you will require proper terms and conditions of use and service as well as a privacy policy that makes sense for what you are doing, if you are not coding the platform you should have a proper independent contractor agreement drafted or at least a work-for-hire/assignment created so you retina all the underlying IP rights, among other considerations.

I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.