Selling shares in a private company

[Rakhi]

What is the name of your state? NY

Hello,

I need help with this issuee:

I want to sell shares in a private company that are not registered for sale on any major exchange. How can I do this without violating securities laws.

Which law does this come under? which law should I read to get better idea of this probelm.

Kindly help
Regards

 

[racer72]

Contact your state's Public Disclosure commision or equivelent. Once you sell "shares" you company is no longer private. You may also want to talk to an attorney that deals with business law.

 

[Rakhi]

Selling shares in private company

Thank you for your reply. This was a question posted for my uncle in the US; I am located in India and an Indian Law student. Before going to an attorney he would like to know some basic details, he has given me this responsibility to study it and send him a report. Can you help me by guiding which law should I study in this regard? Where will I find the required law details? Does the securities law differ from state-to-state?

Please help me

Regards

 

[purple2]

further question on this topic

Hi, I am reviving this thread in the hopes someone can shed further light on this. I've Googled "public disclosure commission ny" extensively and come up empty. Does anyone know the name of the entity referred to in this thread?

Specifically, I am hoping to answer 2 questions:

1. Can a privately held company have shares?
2. Is it possible to learn the identities of shareholders of privately held companies?

 

[HomeGuru]

Hi, I am reviving this thread in the hopes someone can shed further light on this. I've Googled "public disclosure commission ny" extensively and come up empty. Does anyone know the name of the entity referred to in this thread?

Specifically, I am hoping to answer 2 questions:

1. Can a privately held company have shares?
2. Is it possible to learn the identities of shareholders of privately held companies?

**A: what is the legal entity of this private company as registered by the state?

 

[purple2]

Watchtower Bible and Tract Society

 

[boro45]

Private Company Shares

Yes, private companies can and do have shares. This easily allows for multiple owners of the firm and provides a way to compensate employees similar to stock options in a publicly held company.

As for your second question, are you asking if it is possible to learn the identities of the shareholders in a private company? The answer is yes but it is difficult to do as private companies do not have to disclose that infomation to the public. You'll have to be chummy with the owner(s) or incredibly resourceful to learn that information if they don't want you to know.

 

[purple2]

Thanks for the info. I forgot to mention the company I'm "investigating" is a nonprofit. I've done a lot more research and can't seem to find any examples of nonprofits having stocks....what would be the point?