I think a good place to start looking for a model is donorschoose.org. Don't invest in companies: invest in projects. If you broke the company up into small, discrete, chunks you could probably get under the investor limits and not have to file a disclosure. You would basically be letting the market allocate funds within a firm.Then, the firm just breaks up profits and gives dividends. Of course, the term "firm" doesn't really fit here, things would be much looser than what fits into our present definition.

You would still need a crazy team of lawyers to avoid trouble, but it's certainly a loophole worth looking into and a very efficient system for allocating capital.