What Evidence Is Used to Prove the ‘Solely from the Efforts of Others’ Criterion?

Evidence includes the issuer's marketing materials that highlight the team's expertise, the amount of control the issuer retains over the network's development, and the reliance of investors on the managerial efforts of the promoter. If investors have little or no ability to influence the success of the project, this criterion is met.

The term 'solely' has been broadened by courts to mean 'primarily' or 'substantially.'