Frequently Asked Questions

Yes, you still need a lawyer to conduct the final review of your private placement documents, but rather than the 30 hours of back and forth with the lawyer to prepare the documents, you will provide him or her with a near final product that requires minimal review.

iDisclose can help you find a lawyer that is familiar with the application and has agreed to complete the documentation at a reasonable rate.

iDisclose has revolutionized the legal disclosure process. Rather than provide un-contextualized information about your business to your lawyer and rely on them to prepare the first draft – the entrepreneur responds to an online dialogue to draw out the relevant disclosure issues and organize the information into a legal document that requires minimal attorney review. iDisclose puts the job of disclosure on the person in the best place to provide it, eliminating the inefficiencies of the traditional method and saving thousands of dollars. Typically, PPMs cost between $30,000 and $100,000; iDisclose helps produce one for a fraction of the cost.

Yes, seasoned securities attorneys developed iDisclose in collaboration with other specialists in the areas of intellectual property, employment law and real estate. Hundreds of lawyer hours have been devoted to the creation iDisclose.

Yes, iDisclose can be used for both operating companies and real estate deals. By selecting that the issuer is involved in real estate, questions specific to real estate and real estate transactions will be generated.​

There are several ways to access assistance while completing iDisclose:

  • Section tips – each section begins with helpful tips about what type of info is being collected.
  • Tool tips – all bolded words can be rolled over or clicked on to reveal help text associated with the term or question.
  • Collaboration – you are able to send a link of your progress to other people in your company, to your attorney or to other advisors who can review your responses and guide you through.
  • Attorney referral – iDisclose has a team of skilled attorneys with whom it works and to whom we can refer you. These professionals have agreed to provide services in conjunction with iDisclose at reduced rates.

Please recognize that iDisclose may take time, and that it requires some patience, so you need to pace yourself and be willing to actively collaborate with your colleagues and professionals to address those issues with which you aren’t familiar. This is common and all entrepreneurs are encouraged to continue to learn as you go.

Because iDisclose uses an adaptive questionnaire that depends on logic generated from your answers, you must complete Section 1 first, which will then flow through to the remainder of the questionnaire. You should also complete Section 5 before Section 6. After that, you can skip between sections. Section 8, the “Risk Factor” section should be completed last or just before Section 9, as it pulls information from all previous responses to generate the most fulsome set of risks for you to review.

You need to fill in all questions as completely as possible using correct grammar, punctuation and spelling. If a question doesn’t apply to your business, just type in “not applicable.” The more effort you put into the application, the better the finished product and the less time will be required for lawyer review.

Make sure you don’t use “sales-y” or “puffery” type language such as “number one,” “best,” “leading,” etc., unless you have a third party source to back up the statement. The PPM must describe the business opportunity as it currently exists without making misleading statements.

iDisclose envisions a fully digital IPO process someday, but in the meantime, we are working on tools to assist with disclosure for EB5, fund formation and franchises.