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Full-Text Articles in State and Local Government Law
Late To The Crowd: How Ohio's Crowdfunding Bill Fails To Achieve Inclusiveness And Efficiency, Nathan E. Hill
Late To The Crowd: How Ohio's Crowdfunding Bill Fails To Achieve Inclusiveness And Efficiency, Nathan E. Hill
Cleveland State Law Review
Almost half of all small and medium sized businesses within the United States fail within the first five years. One of the main contributing factors to that failure is the inability to raise enough money to operate. While there are many ways for businesses to raise operating capital, the most accessible and sometimes the most efficient way is through a process called equity-based crowdfunding—the offering of shares in exchange for an investment raised through an online portal. In 2012, after seeing the success of equity-based crowdfunding in other countries, the United States passed the Jumpstart Our Business Startups Act (JOBS …
The Close Corporation Under Ohio Law, Forrest B. Weinberg
The Close Corporation Under Ohio Law, Forrest B. Weinberg
Cleveland State Law Review
Section 1701.591 of the Ohio Revised Code is Ohio's close corporation law. It provides, through the use of a "close corporation agreement," the mechanism, first, for implementing unprecedented informality in the functioning of a close corporation and, second, for establishing a legal relationship among the shareholders that is essentially the same as that provided by law for members of a partnership. The new law will have the major impact it deserves only as the result of initiative taken by Ohio attorneys engaged in the formation and ongoing representation of close corporations. It is hoped that this article will help motivate …