Am I liable if a client's data deal goes wrong after my introduction?

The short answer depends on what you did, not just whom you introduced

It depends on the facts and on the law where you work. A partner who introduces a company to SourceX and passes on basic fit information is not a party to the license the company and the buyer sign. A partner who vouches for data rights, quotes a value, handles records or hides compensation takes on risk that the introduction alone does not create.

No single statute governs referral liability. In general terms, claims against introducers come from state common law, such as negligence or negligent misrepresentation, from contracts, or from the professional rules that already govern your practice, and outcomes vary by state.

Where your role ends and the company's contract begins

The structure matters because statements about data rights are made by the company that holds the records, in the agreement it signs. Data moves only after that agreement is executed and the company authorizes delivery.

What the rules say about people who make introductions

The rules that bite depend on your profession and on what else your practice does.

• Securities activity. Whether someone must register as a broker depends on their activities, and the SEC's guide to broker-dealer registration explains the definitions. The SEC proposed a limited finder exemption in 2020 but did not finalize it, so there is no adopted finder exemption to lean on. SourceX introductions concern a commercial data license, not raising capital or selling a company; if your practice also does either, keep the activities separate and ask counsel.
• Registered representatives. FINRA reported that the SEC approved new Rule 3290 on outside activities in September 2026, replacing Rules 3270 and 3280, with the effective date to be announced; until then the existing rules apply. Tell your firm's compliance team before taking on paid outside work.
• Lawyers. Client identity can itself be confidential. An Illinois State Bar Association advisory opinion on networking referrals said a lawyer needs client consent before sharing a client's name. Check your own state's rules before naming a client to anyone.
• Everyone. Statements you make about another business can be relied on. Keep them factual and attributable.

How liability questions play out in common situations

When an owner asks you to vouch, the page on what to do when a client asks you to vouch for SourceX has wording that stays helpful without guaranteeing anything. Compensation disclosure is covered in the ethics of being paid for a client introduction, and sponsors facing portfolio-level questions can read about reputational risk from a sponsor's seat.

What if the introduced company misrepresents its data rights?

The misstatement is the company's, made in the agreement it signs with the buyer. SourceX qualifies each company on size, history, data breadth and rights, and the data inventory comes before anything reaches buyers; red flags such as records owned by an outsourcer's clients, or data already licensed for AI training, stop a company early. A partner who passed on only basic fit information and made no claims about rights stands in a very different place from one who vouched for them. Keep your introduction emails and notes.

On the money side, partners earn 25% of the eligible platform fees SourceX actually collects from the referred company's licensing deals, capped at $100,000 per referred company, payable only after the buyer pays and SourceX receives its fee. No reward is guaranteed, and the referral earnings calculator shows the formula.

A short partner risk register

• I described SourceX factually and promised no price, outcome or timeline.
• I disclosed in writing that I may receive a referral reward.
• I never received, opened or forwarded the company's records.
• I suggested the company take its own legal advice before signing.
• I checked my firm's policy, my professional rules and, if registered, my compliance team.
• I kept a copy of my introduction and any follow-up.
• I asked my insurer whether paid introductions fall within my covered services.

Questions to ask your E&O broker and counsel

1. Does my policy define professional services broadly enough to include introductions I am paid for?
2. Are claims arising from a third party's contract, such as the company's license, excluded?
3. Does my firm need to approve or record the arrangement as an outside activity?
4. What disclosure wording does my engagement letter or professional body expect?
5. If a client sends me confidential files, what is my firm's handling procedure?

This is general information, not legal, tax or financial advice. Confirm with your own counsel, insurer or professional body before acting.

Next step

Read the program terms so you know exactly what the partner role involves, then register as a partner and keep each introduction short, factual and disclosed.