The onslaught of the information technology revolution has resulted in both new applications of traditional legal principles and new legal maxims demanded by technological innovation. One area that embraces established legal convention, yet is—and increasingly, will continue to be—challenged by the enticements of new technology is that of securities offerings. In particular, the growth of the Internet and consequent growth of the World Wide Web in recent years have attracted budding entrepreneurs seeking capital and securities firms promoting new ventures amid the promise of increased opportunities to offer and sell securities.
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