BitShares Forum

Other => Graveyard => Muse/SoundDAC => Topic started by: biophil on July 02, 2014, 04:39:08 pm

Title: How does the legal aspect of this work?
Post by: biophil on July 02, 2014, 04:39:08 pm

Hi cob (and anybody else who might know the answer),

I'm curious how "selling shares in songs" will work from a legal standpoint. My understanding is that it's illegal in the US to anonymously own shares in a company, but would it be legal to anonymously own shares in intellectual property? What would the SEC have to say about that?

I'm interested in hearing how you guys are going to deal with this kind of issue, and I'm also mulling a similar project of my own.

Title: Re: How does the legal aspect of this work?
Post by: muse-umum on July 02, 2014, 04:44:13 pm

I remember Eddie talked about this a little bit when he and Cob were on Bitcoins and Gravy podcast last month.

Check it here：https://bitsharestalk.org/index.php?topic=4849.0

Title: Re: How does the legal aspect of this work?
Post by: cob on July 07, 2014, 03:49:52 am

Can't really go into detail just yet since we wan't bitshares to have a first mover advantage but i will say this.
What we are doing will not be securities.
It won't be shares of a business or of a song. It won't entitle you to any % of the artist's income ...although it has a similar effect.

More on how it works when we are closer to launch or mvp.