[ppml] Securities Act 15 U.S.C. 77b(a)(1)

Jo Rhett jrhett at svcolo.com
Tue Mar 11 12:56:32 EDT 2008

michael.dillon at bt.com wrote:
>> To argue that an IP address meets that definition requires a 
>> stretch of imagination that even lawyers can't handle. Only 
>> network engineers are capable of that stretch.
> I didn't say that. We all know that IP addresses are not property and
> cannot be bought and sold. But now people are proposing that contracts,
> bearing the right to use certain IP addresses, can be bought and sold.
> That looks a lot like commodities contracts (which are promises of
> delivery) and some derivatives contracts and even things like
> re-insurance contracts.

Question: does my rental property fall under SEC regulation?  No.   And 
I sell contracts to use that property.

Go back to your act and read it again.  It clearly says a lot of words, 
but the only direct nouns in play are clearly those representing 
interest in monetary items *or* mineral rights.  Interest in commodities 
other than mineral rights are not included.

And please stop playing lawyer.

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