# Legal wrappers

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The following information is for informative purposes only. It does not constitute financial, legal, tax, or other advice. We advise that you consult your legal and tax advisors to make the best decisions for your unique circumstances. 
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### Is having a legal entity essential to create a Venture Club? 

Whether you need to have a legal entity for your [Venture Club](https://uniquevc.gitbook.io/unique-venture-clubs-docs/platform/venture-clubs) is ultimately determined by you. We recommend all users of our platform to consult their own tax and legal counsel for their particular situation. 

Unique.vc is a non-custodial platform - you do not need to have a legal entity if you open a club for the purpose of trading digital assets on the secondary market. At this stage, clubs are **limited to 99 members** and **$25m in treasury value**.

For general information about taxation and regulation of investment clubs, visit the following [source](https://www.investopedia.com/terms/i/investmentclub.asp). You can also find SEC’s definition of investment clubs [here](https://www.sec.gov/reportspubs/investor-publications/investorpubsinvclubhtm.html).