Q: Looking at starting a freelance gig where I provide stock data (but not buy/sell advice). Do I need a license to do so?
My freelance gig would provide information (historical value trends, ratios, basic valuation model and what that model believes stock worth is. Also, the report will show what good is (for example, PE Ratio of 10 where average industry pe ratio is 20 or something like the enterprise/operating earnings value indication is 10 and 5 or below may be considered undervalued. The report will not indicate whether to buy/sell but conclusions could be made with the information provided that would push someone to buy or not. Do I need a license to do so or can I just use the standard "this is not investment advice" with the report.
A: Before making a much bigger mistake than the mistake you are trying to avoid, I strongly advise you not to re-publish any proprietary information in any form whatsoever, unless and until you have received the original publisher's written consent--which may require the original publisher to obtain the consent of the author before doing so. If you do not understand what I am warning you about, you should hire a very experienced copyright lawyer to explain the concept of liability to you.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
