By Maxie Collier

I'm not an attorney but I've done a couple of low budget features and I

have experience with Limited Partnerships (LPs) and Limited Liability

Corporations (LLCs). In both, the number of participants as well as the

number of people you can approach about investing varies by state.


Additionally, there are sometimes conditions about selling shares (LPs)

or inviting adding members (LLCs) from other states.


There are also stipulations about advertising for investors, disclosure

laws (Blue Sky Laws), and other State and Security Exchange Issues


The best way to receive concrete advice for your situation is to:


1. Hire an attorney experienced with these issues (while most can draw

up the documents, not every attorney is familiar with state and gov.

laws concerning investors)


2. Search yahoo for your state's agency that deals with this, usual the

Secretary of State and/or Taxation Board. For example, here in CA you

can find all the forms online (for free) you need to set-up a

corporation, LP, and LLC.


These free forms can get you up and running, but you still need to be

very careful and clear on the SEC issues. And be very careful of generic

layman's advice. It can cause you problems later.


By the way, for small investments, I have used a commonly found

renewable promissory note. With this document people can loan me small

amounts with me promising to return by a certain time (I my case 3

years) at a certain interest rate (12%) with the option to extend the

loan if I do not have the funds by the due date. Pretty straight

forward. The forms are available at Staples or other office supply



One quick shameless plug, I *Maxie Collier, have a new monthly

newsletter and website, write me at email below to receive it. The DV

Filmmaker's Report is for people interested in producing low budget

films using digital video (DV).



PS NOTE BY ANITA, not certain if he actually did all this but

The information was good so I posted it, Google him.

I am told that GO FUND ME com and KICKSTARTER COM are also useful for funding.
I'd google 'ways to fund businesses'