August 18, 2013
The proposed filing requirements are understandable, however for a majority of start ups it will be close to impossible to comply. As most start ups are young and lean, these requests will smother the start ups with costs that can keep them from ever getting off the ground. It is already tough to bootstrap and worry about legal fees. With these suggested requirements, the costs will prove to be unbearable for all except the ideal "silicon valley" start ups with some type of early capital. I believe this will ultimately push away the newcomers to the entrepreneurial world, which is sometimes where the most disruption and genius comes from. The realm of creating companies and jobs will be impossible to enter and even uninviting.