{"data":{"id":"us-ky/krs-367.801","jurisdiction":"us-ky","citation":"KRS 367.801","heading":"Definitions for KRS 367.801 to 367.819 and 367.990.","body":"As used in KRS 367.801 to 367.819 and KRS 367.990, unless the context requires\notherwise:\n(1) \"Office\" means the Office of Consumer Protection in the Office of the Attorney\nGeneral.\n(2) \"Person\" means natural persons, corporations, trusts, partnerships, in corporated or\nunincorporated associations, or any other legal entity.\n(3) \"Offeror\" means a person who is engaged in the business of selling business\nopportunities including any subsidiary business which affiliates with the offeror for\ngoods or services or locations.\n(4) \"Consumer/investor\" means a person who has purchased or is solicited for the\npurchase of a business opportunity.\n(5) \"Business opportunity\" means the sale or lease, or offer to sell or lease, of any\nproducts, equipment, supplies, or services for the purpose of enabling the consumer\ninvestor to start a business when:\n(a) The offeror obtains an initial required consideration of not less than five\nhundred dollars ($500) from the purchase or lease of the business opportunity\nor inventory associated therewith; and\n(b) The offeror has represented, directly or indirectly, that the consumer/investor\nwill earn, can earn, or is likely to earn a gross or net profit in excess of the\ninitial required investment paid by the consumer/investor for the busine ss\nopportunity; or\n(c) 1. The offeror has represented that he has knowledge of the relevant\nmarket and that the market demand will enable the consumer/investor to\nearn a profit from the business opportunity; or\n2. The offeror has represented that locations will be provided or assistance\nwill be given directly or indirectly to the consumer/investor in finding\nlocations for the use or operation of the business opportunity including,\nbut not limited to, supplying the c onsumer/investor with names of\nlocator companies, contracting with the consumer/investor to provide\nassistance with or supply names of or collect a fee on behalf of or for a\nlocator company; or\n3. The offeror has represented that there is a guaranteed mark et or that the\nofferor will buy back or is likely to buy back any product made,\nmanufactured, produced, fabricated, grown, or bred by the\nconsumer/investor using, in whole or in part, the products, supplies,\nequipment, or services which were initially sold or offered for sale to the\nconsumer/investor by the offeror.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54555","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:05Z","sha256":"9e4f845fc83f9f6b61eb33ce5323711406fda3a7de63572a444d5a2676e84d86","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.775","next":"us-ky/krs-367.803"},"notice":"GroundRules: Original legal text. Not legal advice."}