Legal Definition and Related Resources of Common Enterprise

For the purpose of laws relating to securities registration or blue sky laws , a common enterprise exists where there is more than one investor and the investors expect to reap profits from the efforts of the promotor or a third party . Even though there need not be a common fund , the term denotes an interdependence of fortunes, a dependence by one party for his profit on the success of some other party forming his part of the venture. A common denominator of such investment contracts is the presence of a promoter on whose success the fortunes of the investors depend. See Securities & exchange commission v Koscot Interplanatarv Inc., (C.A.5) 497 F.2d 473. In the law of negligence , an association of two or more persons in pursuit of common purpose under such circumstances that each has authority , express or implied , to act for all in respect to control of means or agencies employed to execute such common purpose, as a result of which negligence of one participant may be imputed to another so as to bar recovery against negligent defendant . Morrarty v Reali, 219 A.2d404, 100 R.l. 689. Used interchangeably with joint enterprise .

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Common Enterprise in Historical Law

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Investment Contract.