Finders Keepers

Companies Must Distinguish 'Finders' From 'Unregistered Brokers' When Raising Capital

, The Legal Intelligencer

You have fretted for weeks about the solvency of one of your small company clients. You are pleased when the company's president calls and asks you to draft a private placement document to sell company shares to an investor who will invest enough to keep the company chugging forward. The president also requests that you first draft an agreement whereby the company will pay a finder's fee to the person who introduced the investor to the company. If you end the conversation at this point and start drafting th

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