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A comment on Crowd-Sourced Capital. Parent comment

Re:Crowd-Sourced Capital by siliconcalley on Wednesday October 01, 2008 @10:36PM (#321344)
no, taking donations is different than having investors who will receive equity.
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Re:Crowd-Sourced Capital by jhancock on Wednesday October 01, 2008 @11:30PM (#321374)
IANAL, but I agree with her. This should not violate security rules as she's not selling you securities ;). She can easily book the donations as payment for future services in case there are other accounting issues at stake.

Good luck!!! I would LOVE to have access to the product as described in your post. FeedBurner and the like confuse the hell out of a small time blogger such as myself ;).

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Re:Crowd-Sourced Capital by DabAsteroid on Thursday October 02, 2008 @12:21AM (#321405)
This should not violate security rules as she's not selling you securities ;).

This clause might be a problem:

the top 100 donations will receive a lifetime premium membership.

If I donate X amount of money, I do not know if I will receive the lifetime membership. I could ultimately be outbid; or I might ultimately not be outbid. It is a game of chance; and unlike in the case of an auction, I pay whether I win or lose. That might make this an unlicenced gambling enterprise.

IANAL, but I would guess that if you are going to offer for sale specified products or services, you need to guarantee that paying customers will receive those specified products or services.

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Re:Crowd-Sourced Capital by siliconcalley on Thursday October 02, 2008 @01:02AM (#321426)
interesting point, i had not thought of that. will talk to my lawyer.

thanks!

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