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I think my E-business may infringe on SEC Laws...What kind of lawyer do I need?

Asked about 4 years ago - Chicago, IL

If I have an idea for an E-business that may involve some SEC regulations, and other areas of law. However, I cannot figure out what kind of lawyer to see first. Do I go to someone who deals with online businesses with the hopes he knows what can/can't be done, someone who knows SEC rules, or someone who specializes in the non-online form of what I want to do, but probably doesn't have to deal with the SEC aspects.

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Attorney answers (2)

Mazyar Malek Hedayat

Reputation Level 12

Answered about 4 years ago. Bankruptcy Attorney in Lockport, IL.

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Hello

What you will need is someone familiar with 2 areas of law

business organization/formation
securities law-state and federal

as well as an Attorney that is either familiar with, or prepared to learn about, the things you want to do in your business.

Business organization can be handled in a fairly straightforward manner once you decide what form of entity you wish to set up and, for that matter, whether you need an entity at all as you start out. Securities laws are much trickier, and if at all possible you will want to qualify for an exemption from what is often a confusing and burdensome scheme of regulation meant for companies of all sizes (read: large companies with fair-sized compliance budgets).

Feel free to give our office a call to discuss your matter. We would be happy to talk in more depth about what you want to do. Good luck in your endeavors.

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Gerry J. Elman

Reputation Level 11

Answered over 3 years ago. Internet Lawyer in Media, PA.

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Well, I happen to advise clients about e-businesses and have helped some clients get patents for inventive aspects of those businesses that involve selling or transacting securities. However, I don't have any special expertise in SEC law, and I regularly refer such issues to a lawyer who handles that sort of thing on a regular basis. In fact, the rules of ethics that govern lawyers' activities would require me to call in the help of a lawyer with such expertise (or to get up to speed on it myself, which I don't currently plan to do).

I happen to practice in a small, boutique law firm, and the SEC experts I know are in different firms. I'm pretty good at setting up collaborations with them. However, some clients might prefer the one-stop-shopping of a large business-oriented law firm where different folks with the appropriate expertise are under the same roof. If that's your preference, consider using a law firm that has hundreds of attorneys.

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