NEW YORK, NY–(Marketwired – Sep 30, 2015) – iDisclose today announced the launch of its adaptive, online application that enables entrepreneurs to draft institutional-grade disclosure documents for private offerings (including crowdfundings) called private placement memorandums, or PPMs. In its aim to streamline the disclosure process for small and startup businesses, the company’s application significantly reduces the time, money and effort spent on PPMs by reallocating the preparatory work back into the hands of the entrepreneur.
For a low fixed fee, businesses can create a PPM by completing more than 200 questions online. Unlike a template, the application tailors each question to the individual business using highly-adaptive, analytic technology. The platform also offers help text and tips throughout, including a feature allowing users to collaborate with their attorney or colleagues as needed.
“PPMs alone can cost $25,000 to $100,000 and take months to draft, which can often mean the matter of life and death for a startup,” said CEO and award-winning securities attorney, Georgia Quinn. “As a result, many companies forgo protecting themselves with a PPM because they simply can’t afford it — which is really rolling the dice that something doesn’t go wrong.”
iDisclose was developed by a team of practicing corporate securities attorneys and financial experts under the leadership of two, globally-recognized figures in the crowdfunding space. Having facilitated billions of dollars in corporate financings, the team harnesses a deep understanding of the disclosure process, along with the issues and risks businesses face when raising capital.
The application can be used for each of the following:
All stages of private financing — seed round, series A, B, C and beyond
Both operating companies and real estate deals
All entity types (“C” corporations, LLCs and LLPs)
Multiple types of securities (debt, convertible debt, preferred and common)
Retail crowdfunding (intrastate crowdfunding and the SEC-required documents once Title III of the JOBS Act implements)
Attorneys (To attract new clients, streamline their practice and optimize service capacity)
“With the application, our team has created an affordable yet reliable way for small business owners to access the same, quality legal services we’ve offered to more established companies throughout our careers,” said co-founder Douglas Ellenoff, named partner of the leading US securities firm Ellenoff Grossman & Schole LLP, and key player in the implementation of the JOBS Act regulations. “Having practiced securities law for 25 years, it’s exciting to offer a technology that embodies much of our experience through one, user-friendly platform.”
iDisclose is the world’s most comprehensive, online application to streamline the legal procedure of raising capital by generating institutional-grade private placement documents for entrepreneurs to review with their legal counsel.* Built by experienced attorneys, iDisclose fuses cutting-edge, adaptive technology with legal know-how to cut the time and expense both businesses and lawyers exert on the disclosure process.
*Neither the application nor the documents the application produces constitute investment, legal or tax advice. A licensed and qualified attorney is still required to review all documents generated through iDisclose prior to a securities offering.