I need insight into my finder's fee transaction taking place in California.
I am acting as a finder on a business venture that consists of myself having found a large investor for a large project developer. I do not do this regularly, but have a wealth of business experience and strong network especially for my young age (mid 20's). The project developer and I have already signed a finder's fee agreement agreeing to give myself 3% of funds raised. Although I am being asked to do more in terms of consulting and drawing up business plans, I have not, and am hesitant to do so because I am unlicensed and do not wish to overstep legal boundaries into unregistered broker/dealer territory. The deal has reached the point of LOC's being signed in anticipation of a JV agreement looks extremely promising.
Can I receive some clarification on what I can/cannot do and what other things I can watch out for? What is the best course of action from here and what types of things should I negotiate for additionally if my percent fee is asked to be lowered by the investing group?
Thank you.
