I sold 30% then 20% of my website, someone claims its illegal to sell unless your a registered company am i in the wrong?? this is illegal...???
I am not sure what you are asking. Are you saying you sold shares in your website? Do you own the website and domain name?
well i sold 50% of my website 30% then 20% comeone is claiming this is illegal because selling shares in your website is illegal if you are not a registered company. and yes i own fully the domain and website
Yes, I agree, it is not illegal. You can sell share in anything you own. For example, horse ranchers often sell share in a horse. Farmers may sell share in a cow so all owners share in the milk. If you were to try to sell your shares on the open stock market, you would be in problems with regulations. What you did is fine and no laws were violated.
What?!? You don't have shares (Corporations) or membership interest (LLCs) of anything to sell if you're not an organized company. If you haven't registered, you're a sole proprietorship and you, therefore, have no pieces of the company that you can sell. The form that you're the most close to is a general partnership, but without an agreement, you're operating outside of that form as well. Basically, the answer to your questions is, yes, what you're doing is illegal... Let me know if you have other questions. Deena ________________________________________________________________________ Any opinions are offered without knowledge of the specific law of your jurisdiction and with only the limited information provided in your post. No advice given here should be reasonably relied upon by you or any third party without consulting an attorney who is aware of all of the facts and law surrounding your situation. Any advice given here is not intended to create an attorney-client relationship in any way.
You can make an agreement to sell a fraction of your website, just as you could sell 1/2 interest in your bicycle to a friend. It should be clear to all parties who is controlling the asset and how profits and costs are to be divided. But I see no reason why it would be illegal to sell a fraction of a website. It is really the agreement to do so which is important and would prevent disputes in the future. Did you sell the fractions of the website to different people? As Deena mentioned, you cannot sell shares or membership interests when none exist, but I do not think that is the case as I understand from your brief post. You are not selling shares in a company but directly to ownership of the website itself.