My business partner and I are speaking with an investor. We have settled on an agreement, the investor is requesting our full name, the company name, address, first phone number, and a valid mode of identification for him to forward to his lawyer who will draft the contractual agreement. Is there a best practice on providing this information? Do we request to send it directly to his attorney? Does our certification of operation count as a valid mode of identification or will we need to provide personal identification? If so, are there forms we could use to minimize risk of potential identity theft?
This is a very common form of scam done for the purposes of identity theft and, almost certainly, no investment will be forthcoming. The purported investor, which is never a properly registered bank or financial institution, preys on businesses in need of cash or offer terms that seem too good to be true. A lawyer is perfectly capable of drafting a proposed agreement without reviewing personal identity documents.
Any answer provided on the AVVO website is for informational purposes only and does not constitute legal advice for your specific situation. You should always seek legal advice before taking any action which may affect your future rights. Your local legal aid office may well provide information or access to free legal advice and your state bar organization may provide referrals to reputable attorneys who will provide advice on a reduced cost basis.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline