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Saturday, January 10, 2009 3:05:57 PM
http://vcexperts.com/vce/library/encyclopedia/documents_view.asp?document_id=89
0.10.1: Private Placement Memorandum And Regulation D
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"Rich individuals": natural persons whose joint net worth at the time of purchase exceeds $1 million or whose individual net income was over $200,000 ($300,000 if joint) for each of the preceding two years, coupled with a reasonable expectation of that income level for the current year.
"Rich" entities: any corporation, business trust, or partnership with total assets in excess of $5 million if not organized for the purpose of making the investment, plus any private trust with assets in excess of $5 million, not organized for the purpose and directed by a sophisticated person.
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