“This edition of the newsletter Business Law Commentary is the first in a four part series dealing with the lawful sale of securities, by the company that issues them, in a transaction that is exempt from the general registration requirement imposed by the securities laws. These transactions are called "private offerings"?? or "private placements."??
Our series examines the fundamental attributes and limitations associated with them. Because the initial description of a private company is usually contained in its Business Plan, the feasibility of using that document to raise capital is the starting point for our analysis.”