Archive for October, 2008

Completed Press Release

October 31, 2008

Just put up the press release.  Spoke to my friend Dwain J  (a big internet marketing genius) about it and he loves the idea!  This is a big deal coming from Dwain.

Going to work on the instructions after the registration (ie. what happens after people registers).  Going to make training videos and film a short video clip so I can post this on youtube.

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Updates

October 31, 2008

Creating an LLC

October 31, 2008

My attorney also advised me to create a new LLC for this.

We’re going to stick the funds received for this under the LLC, and the house will be deeded to the LLC.

The Terms of Service will be with the LLC.

Should anyone decides they want to sue us, it will be under the LLC.  Once this event is over, we will close the LLC.

Creating a Paypal account today so the money will go strictly under the LLC.

We went to the bank and created a bank account. We will link this to Paypal later tonight.

Attorney gave OK

October 30, 2008

My attorney called back and said that we are not violating any laws.  There’s an Oregon Raffle law, in which you have to register your raffle…this is to prevent people giving away the prize to their friends and family.  Since we’re letting the Internet vote…who the winner is, is pretty clear.  We are not responsible if someone is manipulating Digg.com….the good thing is…Digg.com has been around for years and is very good at catching fraud manipulations.

He also mentioned that the winner will have to pay tax on their winning.  Just like going to a casino or winning the lottery.

So, we’re good to go legally.

Checking with Attorney

October 30, 2008

Well, the idea seems to be interesting.  Going to check with my attorney to see if this is legal.  Will keep you posted.

My friend also suggested that I should consider using a national accounting firm to sponsor this event for publicity.   They would hold the money in escrow so that everyone will feel more secure about the giveaway.  Don’t know if I can find the right firm in time.  If anyone knows of a decision maker in a large accounting firm, please have them get in contact with me at freehouse@i360connect.com.