B
brjohn1
Guest
What is the name of your state? Florida
Before I partner with an online company, I wanted to initially verify that parts of their business model are legal.
Overview:
An online auction web site, whereas...
1. the winning bidder wins the right to pay a fixed priced [fraction of the actual cost, but not free],
2. the number of bids are limited in each auction,
3. each participant is charged a "bidding fee" for each bid submitted (regardless of winning/losing the auction),
4. the winning bid is the highest bid that is not duplicated (unique).
http://www.greatpcs.net, albeit based in North Carolina, is similar to the Florida company I am describing with this business model.
On the surface, it appears to conflict with lottery laws, but the company has assured me that it runs a legal auction site incorporated in Delaware with an auctioneer based out of Florida. My assumption is that Florida statue allows some aspect of their business model that does not include all three lottery factors, including consideration, prize, and chance.
Before I partner with an online company, I wanted to initially verify that parts of their business model are legal.
Overview:
An online auction web site, whereas...
1. the winning bidder wins the right to pay a fixed priced [fraction of the actual cost, but not free],
2. the number of bids are limited in each auction,
3. each participant is charged a "bidding fee" for each bid submitted (regardless of winning/losing the auction),
4. the winning bid is the highest bid that is not duplicated (unique).
http://www.greatpcs.net, albeit based in North Carolina, is similar to the Florida company I am describing with this business model.
On the surface, it appears to conflict with lottery laws, but the company has assured me that it runs a legal auction site incorporated in Delaware with an auctioneer based out of Florida. My assumption is that Florida statue allows some aspect of their business model that does not include all three lottery factors, including consideration, prize, and chance.