Who is FPRC?
FPRC is a for-profit Wyoming Corporation. Dr. Joseph Fullop (the founder and chairman of the board) began work on FPRC over 10 years ago, when he found out the implications of the 1986 Tax Reform Act. FPRC was formed in 1989.
FPRCs mission is to serve Corporate America by teaching the basic principals of raising money and the benefits of tax planning. The client comes first at FPRC, and must be served in every way possible. Government regulations and taxation have evolved into a maze that is so complex for the average businessman that it is very difficult, not to mention expensive, to be able to work within the rules. Even the professionals of our country misrepresents to a client what he can or cannot do. FPRCs goal is to gather experienced professionals and set forth a plan of syndication that is comprehensible, doable, and affordable by the average person.
Traditional syndication costs and the liabilities incurred by its participants are totally out of reason. There are better ways to do things, and FPRC intends to research, develop, and teach them. FPRC is creating alliances across the nation with top law firms, accounting firms, venture capital firms, placement agencies, and investment banks. These firms work with FPRC and clients at substantially reduced rates. The cost reduction is a product of knowing what to ask for from the professionals. Opinions are decidedly taboo documents with FPRC. Research has proven that todays opinions are worthless, and have become a product of tradition without substance. Opinions create dangerous liabilities. People read opinions and abandon their own due diligence obligations. If anything at all goes wrong, suits are filed against those who issued the security, but also those who rendered opinions. Opinions are needlessly expensive.
Many of the issues addressed by FPRC are things that people accept without question, or take for granted. FPRC will always ask WHY, then look for a more efficient, intelligent approach to the problem. Men created this inefficient, costly, out of date systems and men can unscramble them.
No excuses are accepted from any professional, when it comes to efficiently accomplishing their particular part of the job. The FPRC system is constantly evolving and bettering itself as fast as it can, but it is bucking old traditions and it will take time to dispel the myths of old ways.