1.2.1.1. Prospectus
When most of us think of a prospectus, we think of a long, detailed document. In fact, a prospectus is any written or broadcast offer to sell securities. It can be as short or as long as you like. What defines a prospectus is its contents. Section 2 of the Securities Act gives the following broad definition of prospectus:
Any notice, circular, advertisement, letter, or communication, written or broadcast, which offers a security for sale or confirms the sale of any security.
Written communications include electronic communications such as email, websites, faxes, videos, CD-ROMs, etc. Public seminars, public speaking, and unscripted presentations to a live audience are not considered to be written communications, as long as they are not recorded. Any presentation that is recor