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I'am a business consultant that puts together joint venture…

Customer Question
Hello I'am a business...

Hello I'am a business consultant that puts together joint venture deals. The term joint venture broker has been used before in a deal I'm putting together. My question is do I have to be a licesned broker to recieve my consultant feels for putting client with investor?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

California

Lawyer's Assistant: Has anything been filed or reported?

No not yet we are putting together contract now. The lawyer for the other side termed me consultant that gave introductions but I have worked this deal for over a month and now investor is willing to invest and I need to be covered in the correct terminology

Submitted: 4 months ago.Category: Legal
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Answered in 5 minutes by:
3/6/2018
Lawyer: DamienJD, Attorney replied 4 months ago
DamienJD
DamienJD, Attorney
Category: Legal
Satisfied Customers: 5,153
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Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

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Lawyer: DamienJD, Attorney replied 4 months ago

Is your fee in the form of a commission based on the amount of the investment? Or is your fee based on the hours you work? Or is your fee a flat fee no matter what size of the investment?

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Customer reply replied 4 months ago
form of commission 1.75% on what is invested of 150k plus .025 percent equity if investor invests 250k.
Lawyer: DamienJD, Attorney replied 4 months ago

Hold, please while I develop your answer....

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Customer reply replied 4 months ago
just need to know if I need a brokers license in Calif to collect under 50k and should I use the term joint venture broker or joint venture consultant
Lawyer: DamienJD, Attorney replied 4 months ago

There does not seem to be a limitation on how much you can collect in commission in California (but the deal size has to be less than $15 million). The law is extremely complicated and there are other restrictions and recording requirements. I think it is better for me to provide the statute to you because it is so comprehensive. Would you like me to provide it to you?

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