id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cblr-1695	Gallagher, Patrick J.	Going Public Secretly: The SEC’s Unavailing Effort to Increase Initial Public Offerings Through Confidential Registration	2019	62	.pdf	application/pdf	21693	935	56	An IPO provides a company with capital, which can be used for business expansion, operating expenses, and any other corporate purpose.21 An IPO also provides costless liquidity because, unlike shareholders in a closely held corporation, public company investors have access to public markets through which they can sell their shares at any time, for any purpose.22 Further, IPOs increase the valuation of a closely held businesses are: (1) they typically have few owners, most of whom are actively involved in managing the business; and (2) the owners have little or no liquidity options because there is no market for such shares. In addition, this Note presents new proposals to further mitigate the structural realities that incentivize companies to remain private and, instead, encourage them to go public: (1) award firms that go public temporary exemptions from burdensome regulations that apply to public companies, such as the Sarbanes-Oxley Act; and (2) offer tax credits to companies that conduct IPOs.	cache/cblr-1695.pdf	txt/cblr-1695.txt