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Azle Web Design | SEO Azle Texas | Azle TX Internet Marketing - Video
When used to sell products and services to the public, the Internet is considered an instrument of mass media that is subject to the nationality rules on ownership.
This, in a nutshell, was the opinion rendered by the Securities and Exchange Commission (Opinion No. 14-06) on the issue on whether a foreign-owned company can provide a digital platform for advertisements and sales.
Komil Network Phils. Inc., a domestic corporation whose voting shares are wholly owned by a foreign corporation, asked if it can engage in, among others, the following activities:
Wholesale marketing and sale of digital publications;
Provide a platform to clients to reach out to their target audience and advise them on online outlets that would best meet their promotional campaigns;
Provide a platform to third party websites to sell and monetize their online inventory.
The company intends to use the Internet or mobile technology as primary medium to accomplish these objectives.
In fine, the offered services are in the nature of advertisement and mass media, both of which are covered by restrictions on foreign ownership by our Constitution.
Promotion
To gain a clear understanding of the issues involved, the SEC cited the definition of advertising and mass media in existing laws.
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Internet sale is mass media