Wis. Admin. Code Department of Agriculture, Trade and Consumer Protection § ATCP 122.02 - Definitions
(1) "Chain distributor scheme" is a sales
device whereby a person, upon a condition that the person make an investment,
is granted a license or right to recruit for profit one or more additional
persons who also are granted such license or right upon condition of making an
investment and may further perpetuate the chain of persons who are granted such
license or right upon such condition. A limitation as to the number of persons
who may participate, or the presence of additional conditions affecting
eligibility for the above license or right to recruit or the receipt of profits
therefrom, does not change the identity of the scheme as a chain distributor
scheme.
(2) "Investment" is any
acquisition, for a consideration other than personal services, of personal
property, tangible or intangible, for profit or business purposes, and
includes, without limitation, franchises, business opportunities and services.
It does not include real estate, securities registered under ch. 551, Stats.,
or sales demonstration equipment and materials furnished at cost for use in
making sales and not for resale.
(3) "Person" includes partnerships,
corporations and associations.
Notes
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