SECONDARY TRANSFERS OF RESTRICTED INTERESTS

摘要

A facility (16) that provides information about and enables secondary transfers of restricted interests in issuers (12). Unlike securities that are listed for public trading on exchanges, interests in private companies, partnerships, and other ventures are typically transferred from sellers (20) to buyers (18). The transfers may be restricted by governments through federal and state securities laws and regulations or by issuers (12) of the interests through contract or the administrative control of the board of directors or a general partner. The intended phrase "restricted interests" is used in companies, partnerships, and other ventures, in a context in which there are more restrictive limitations on transferring the interests than would be the case for a publicly-traded security.