As to contributory negligence----outside my area of expertise. I'm tax/business.
As to "all you could lose is the $1000". Nothing is guaranteed. There are always ways to "pierce the corporate veil"--which basically leaves you naked.
Obviously, I can't give legal advice on here, and am not. Just know this isn't going to be easy. Like I said, I would likely be interested--once all of the details are ironed out.
Seriously, the thing that worries me the most in all of this is the potential SEC requirements. It doesn't take much for this to be deemed a public offering, and if it does--the cost are going to go through the roof (as is the liability).
Unfortunately for the owner, I'm not sure how you get to the next step for even a reasonable amount of cost. Hopefully you have some attorney friends who are experienced in this area. Otherwise, it could get out of hand in a hurry---and that's a shame because I really like what you are trying to do here.
As to "all you could lose is the $1000". Nothing is guaranteed. There are always ways to "pierce the corporate veil"--which basically leaves you naked.
Obviously, I can't give legal advice on here, and am not. Just know this isn't going to be easy. Like I said, I would likely be interested--once all of the details are ironed out.
Seriously, the thing that worries me the most in all of this is the potential SEC requirements. It doesn't take much for this to be deemed a public offering, and if it does--the cost are going to go through the roof (as is the liability).
Unfortunately for the owner, I'm not sure how you get to the next step for even a reasonable amount of cost. Hopefully you have some attorney friends who are experienced in this area. Otherwise, it could get out of hand in a hurry---and that's a shame because I really like what you are trying to do here.