Bill paid $500,000 for the purchase of a "franchise" in a new professional soccer league.The franchise is in the form of a limited partnership under which Bill is not permitted to actively participate in the management of the team.The promoters of the league are to do all of the management and to make all of the decisions regarding that management.Bill will receive 15% of all gate receipts and revenue generated from the sale of licensed items such as jackets and coffee mugs.Is the "franchise" a security within the meaning of the federal securities laws?

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The Answer of Bill paid $500,000 for the purchase of a "franchise" in a new professional soccer league.The franchise is in the form of a limited partnership under which Bill is not permitted to actively participate in the management of the team.The promoters of the league are to do all of the management and to make all of the decisions regarding that management.Bill will receive 15% of all gate receipts and revenue generated from the sale of licensed items such as jackets and coffee mugs.Is the "franchise" a security within the meaning of the federal securities laws?

Bill Paid $500,000 for the Purchase of a "Franchise" in a New