If you already have an attorney
Introduce us. Your attorney applies to the founding cohort, joins the network, and your next PPM moves through the workflow with them at the helm. You keep the attorney relationship you already have.
Q3 2026 Founding Attorney Cohort · Now accepting applications
AI agent infrastructure for Reg D 506(c) private placement memorandums.
Built for securities attorneys with real estate practices. Our agents draft attorney-reviewable PPMs in days, not weeks. You own the legal judgment. We do the heavy lifting that takes paralegals out of the rest of their day.
What today looks like
Every Reg D 506(c) real estate offering needs a PPM. Drafting one still takes four to eight weeks.
The work is well-understood. Entity diligence. Risk-factor research. Financial structuring. Disclosure assembly. Subscription documents. Form D filings. The same workstream, every offering, every time — and most of it is done by hand.
Today, a comprehensive PPM runs forty to a hundred pages and costs five to thirty thousand dollars in legal fees per offering. Securities attorneys spend the bulk of that time on tasks that an AI agent can do in hours and a paralegal does today in weeks.
LedgerBrick handles the drafting. You handle the judgment that makes it a real legal document.
Designed to fit alongside what you already use
- SPV structures
- Reg D 506(b) / 506(c)
- Reg S
- K-1 reporting
- Qualified custodians
- Transfer agents
- Issuer platforms (Securitize, DigiShares, Tokeny)
Four drafting workstreams · One attorney-reviewable PPM
Our agents draft. You review and own the legal judgment.
Each workstream below is a coordinated set of agent tasks that produces a structured draft section of the PPM, ready for your review and revision.
-
01
Entity and structure section
Agents assemble the entity formation summary, operating agreement key terms, capital stack, and management section — pulled from the sponsor's existing operating documents and cap table.
-
02
Asset and offering section
Agents pull and structure the asset description, market analysis, comparable transactions, and use of proceeds — sourced from public records, MLS, and the sponsor's diligence package.
-
03
Risk factors and disclosures
Agents draft industry-specific and offering-specific risk factors against a maintained library of current SEC guidance and recent enforcement themes — surfacing material risks the attorney decides to include, modify, or exclude.
-
04
Subscription documents and Form D prep
Agents assemble the subscription agreement, accredited investor questionnaire, and Form D filing package — formatted for the attorney's final review and the sponsor's investor-facing data room.
Every draft section lands in the LedgerBrick Control Room, an authenticated workspace where you mark up, accept, or rewrite the agent output. The sponsor sees plain-English status. You see the actual draft. The final document is your signed work product.
Primary audience
Built for securities attorneys with Reg D real estate practices.
LedgerBrick is infrastructure for attorneys who already draft Reg D 506(c) PPMs for real estate sponsors. We handle the drafting work your associates and paralegals do today. You handle the legal judgment, the client relationship, and the final signature.
What we change
- Drafting time per PPM drops from weeks to days.
- Your practice takes on more offerings without adding paralegal headcount.
- You participate in revenue from each engagement, not just hourly billing.[1]
- Sponsor handoff becomes a packaged offering rather than a custom build each time.
What stays the same
- You own all legal judgment. Every draft is reviewed and signed by you.
- You maintain the client relationship and bar-of-record responsibility.
- Your malpractice carrier and engagement letters are unchanged.
- LedgerBrick is not a law firm and does not provide legal services to your clients.
How the engagement works
-
01
Sponsor enters the workflow.
-
02
Network structure.
-
03
Agent drafting.
-
04
Attorney review and signature.
-
05
Revenue share under the ABS framework.
[1] Revenue-share economics are structured to operate under the Arizona Alternative Business Structure framework. ABS filing in progress.
Secondary audience
Sponsors come to LedgerBrick through their securities attorney.
If you're a real estate sponsor running a Reg D 506(c) raise and you'd like your PPM drafting accelerated, the path forward is straightforward: we connect you with a securities attorney in our network. The attorney owns the legal work. We provide the infrastructure that lets them deliver faster.
If you don't have an attorney yet
Tell us about your offering. We'll match you with a network attorney whose practice fits your asset class and geography. Engagement terms are set between you and the attorney directly.
Get connected with a network attorney
The sponsor intake form captures basic firm information, asset class, geography, and whether you already have legal counsel. Submitting the form does not create any attorney-client or attorney-network relationship.
What LedgerBrick is
- AI agent infrastructure for drafting Reg D 506(c) PPMs.
- Structured to operate under an Arizona Alternative Business Structure.
- A coordinated set of AI agents producing attorney-reviewable PPM drafts.
- An authenticated workspace where attorneys review and finalize draft output.
- A revenue-share network for securities attorneys, pending ABS filing.
What LedgerBrick is not
- Not a law firm. Legal work performed by licensed securities attorneys in the network.
- Not a broker-dealer or registered investment adviser.
- Not a transfer agent or qualified custodian.
- Not an issuer of securities and not the offeror of any security.
- Not a tokenization platform, exchange, or trading venue.
Pilot
A small founding cohort of securities attorneys, going through the workflow together.
The Q3 2026 pilot is built for the first wave of securities attorneys joining the LedgerBrick network. We work with you to onboard your existing Reg D 506(c) real estate offerings, calibrate the agent output to your firm's drafting standards, and shape the workflow before it becomes a productized offering.
Cohort size
Limited founding intake. Selected on fit, not first-come.
Eligibility
Active securities attorney with a Reg D real estate practice. Bar admission in at least one US state. Existing or prospective client offering you can run through the pilot.
Engagement
Onboarding session, agent calibration to your drafting standards, and one full PPM workflow run end-to-end within the cohort window.
Deliverable
A reviewed and finalized PPM, delivered to your client under your firm's signature, on the LedgerBrick infrastructure.
Economics
Founding cohort terms are negotiated individually. Revenue-share economics structured under the Arizona ABS, pending filing.
Apply to the founding attorney cohort
Applications are reviewed on a rolling basis. Submitting an application does not create any client, advisory, attorney-client, or attorney-network relationship.
FAQ
Common questions.
If yours isn't here, mention it in your application and we'll address it directly.
Is LedgerBrick a law firm?
No. LedgerBrick is a legal-technology company. Legal services are performed by licensed securities attorneys in the LedgerBrick network. The attorney owns the legal judgment, the engagement letter, and the bar-of-record responsibility for any work product.
What is the Arizona Alternative Business Structure?
Arizona is the only US state that has eliminated the Rule 5.4 prohibition on non-lawyer ownership of law-practice entities. The Arizona Supreme Court's ABS licensing program, which went live in January 2021, allows technology companies to own a law-adjacent practice and share revenue with licensed attorneys, with at least one designated compliance lawyer in the entity. LedgerBrick is structured to operate under this framework. The filing is in progress.
Who owns the PPM that comes out of the workflow?
The reviewing attorney's firm. LedgerBrick provides the drafting infrastructure. The attorney owns, signs, and delivers the final document under their firm's engagement with the sponsor.
What about liability if a PPM disclosure is challenged?
The reviewing attorney owns the legal judgment and the malpractice exposure for the PPM. LedgerBrick provides infrastructure and does not represent any sponsor or investor. Network agreements and indemnification terms are negotiated with each founding attorney before any client engagement runs through the workflow.
Is LedgerBrick offering, selling, or recommending any security?
No. LedgerBrick is not a broker-dealer, investment adviser, transfer agent, or issuer. Nothing on this site is an offer or solicitation to buy or sell any security, and nothing here is legal, tax, accounting, or investment advice.
Can sponsors apply directly?
The Q3 2026 cohort is for attorneys. Sponsors are welcome to use the "Get connected with a network attorney" path in the For Sponsors section, which is a lead-capture for matching sponsors to attorneys in the network. We do not run engagements without an attorney.
Reg D PPM drafting is a structural part of your practice. Make it faster.
Apply to the Q3 2026 founding attorney cohort. Limited intake.
Apply to the founding attorney cohort