A document, notice, circular, advertisement, letter, or communication in written form or by radio or television that offers any security for sale, or confirms the sale of any security.
A prospectus is a document or a publication by, or on behalf of, a corporation containing information on the character, nature, and purpose of an issue of shares, debentures, or other corporate SECURITIES that extends an invitation to the public to purchase the securities. The content of a prospectus is regulated by federal law. It must contain all material facts relating to the company and its operations so that a prospective investor can make an informed decision as to the merit of the investment. A prospectus must be furnished to an investor before any purchase is made.
Law Library - American Law and Legal InformationFree Legal Encyclopedia: Prohibition Party to Pure theory of law