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  1. #1
    Join Date
    Apr 2020
    Posts
    5

    Default Paid Service - What to Do

    Hey guys.
    I would like to open a discord room where I would be charging fee for service.
    Now, what do I need to do to make it legal from law perspective? I dont know law at all and now I've seen people did similar rooms where they have disclaimers, LLC etc.
    I thought its more simple than that but I cant also act blind and say that i didnt know this or that.

  2. #2
    Join Date
    Mar 2013
    Posts
    17,803

    Default Re: Paid Service - What to Do

    A discord room?

    Like this:

    https://www.youtube.com/watch?v=ohDB5gbtaEQ

  3. #3
    Join Date
    Oct 2014
    Posts
    7,859

    Default Re: Paid Service - What to Do

    Quote Quoting mark277
    View Post
    Hey guys.
    I would like to open a discord room where I would be charging fee for service.
    Now, what do I need to do to make it legal from law perspective? I dont know law at all and now I've seen people did similar rooms where they have disclaimers, LLC etc.
    In what state are you located and in what states would this service be available? What kind of service do you have in mind? Without details there is no way to give you even some general information that might be helpful to you since there are a lot of different things you may need to do depending on what you have mind for this business.

    Quote Quoting adjusterjack
    View Post
    Well, Jack, it's pretty obvious you don't do much online computer gaming. Discord is a voice communication and bulletin board application that allows a lot of people to chat together at once and is great for getting people together that share common interests. It is a very popular application for gamers and they are the biggest users of it, though other groups use it too.

  4. #4
    Join Date
    Mar 2013
    Posts
    17,803

    Default Re: Paid Service - What to Do

    Quote Quoting Taxing Matters
    View Post



    Well, Jack, it's pretty obvious you don't do much online computer gaming.

    I don't do any.

    But I do invoke Monty Python for the entertainment of my peeps.

  5. #5
    Join Date
    Apr 2020
    Posts
    5

    Default Re: Paid Service - What to Do

    It would be service giving alerts in stock market. There are plenty of rooms but i want to open my own. Question is what to do? How to charge people in legal way? Also not being financial advisor i need a disclaimer?

  6. #6
    Join Date
    Mar 2020
    Location
    4111 Snyder Avenue, Charlotte, North Carolina(NC)
    Posts
    11

    Default Re: Paid Service - What to Do

    Discord’s revenue model is still a work in progress. The company is against advertisements and selling of user data and has been relying on the funding money till recently. They have no intentions to make users pay to use the application in future. Rather, the company is shifting to a semi-freemium business model where it provides more and better features to those who pay for them. Discord also makes money by selling company merchandise.

  7. #7
    Join Date
    Apr 2020
    Posts
    5

    Default Re: Paid Service - What to Do

    Well it has nothing to do with what i asked.

    I want to have premium service and it can be in slack, discord, any fb closed group etc.
    My question is how to go about it in legal way so I can avoid any troubles. I dont want tell anyone what to short or where to go long. Just alert whats moving and everyone makes their decision.
    Do I have to make a disclaimer that im not financial advisor and im covered? Is that enough? Anything else?

  8. #8
    Join Date
    Apr 2020
    Posts
    5

    Default Re: Paid Service - What to Do

    any thoughts?

  9. #9
    Join Date
    Oct 2016
    Posts
    3,862

    Default Re: Paid Service - What to Do

    Quote Quoting mark277
    View Post
    any thoughts?
    We don't know enough about what you want to do, how you want to do it and I don't think you do either.

    If you think that you couldn't be sued for really bad investment advice just because you put in small print somewhere that you aren't an expert you are sadly mistaken. And why would anyone pay you if you aren't an expert?

  10. #10
    Join Date
    Apr 2020
    Posts
    5

    Default Re: Paid Service - What to Do

    I want to make additional source of income by creating discord group where I will alert what I see. Stocks pops - I alert, news comes - I alert that, if I see a potential play I could alert that too, swing ideas etc.
    In another words. I was posting for about 3 years on stocktwits or instagram plays that I took and I never thought I would want to create a chatroom. Many people asked me to do it. Now, during quarantine there is nothing to do and Im sitting all day on stock market and I thought someone else could benefit from what I see. I know for my safety I have to protect myself just in case someone decides to put all money and lose it. Its most likely not gonna happen but you never know. Many people who run the same discords room have disclaimers which say they are not responsible for any financial losses and content is for educational purpose only. When they run morning meetings they begin that with the same words. So thats my question if a disclaimer that everyone would have to accept to join the group is enough? There must be a solution to that since there are plenty of paid rooms running like that.

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