TLDR:
General solicitation refers to publicly advertising or broadly marketing a securities offering to potential investors, traditionally prohibited in private placements but now allowed under certain conditions in the US (Rule 506(c)).
General Solicitation After JOBS Act
The JOBS Act of 2012 significantly liberalized US securities rules by allowing “general solicitation” — advertising to the general public — for certain private offerings under Rule 506(c) of Regulation D. This change enabled startups to post funding opportunities on AngelList, pitch at public demo days, and promote their fundraise on social media without registering the securities, provided all purchasers are verified accredited investors. Before the JOBS Act, general solicitation was prohibited for private placements, requiring all marketing to happen through pre-existing relationships.