I am curious as to the legalities surrounding purchasing a client's stock. As an industrial designer - I am assisting in the development of a client's first product and (naturally) I have high hopes that the design will help them become a success.
The client in question is a public company so I am considering purchasing some stock.
I did some Google searching on the definition of what an insider is and found out that: "For purposes of insider trading, the definition is expanded to include anyone who trades a company's shares based on material non-public knowledge"
I'm not a securities lawyer... - but I would think a design firm working on a new product would constitute knowledge that is material and non-public.
Wondering if anyone has experience with this? I am sure I have heard of design firms in the past who have equity stakes in their clients.