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Ok let me preface this by saying "yes I know this is super geeky, lame and weird"...but during graduate school I operated a very large virtual store in "Second Life". I was making enough to have quite a lot of disposable income from it. It was in essence a business - I had employees and dealt with clients etc. etc. Then I simply got bored and spent less and less time dedicated to it, and finally just sold it off to someone who was interested in operating it.

Anyway, do you think this is something worth mentioning on my resume as work experience? I spent at least 20hrs a week for a good 2 years working on building a name brand and reputation - as well as learning by myself how to use a variety software (ex. Maya). In my head I am just thinking they might not take it as seriously or really understand what it was I did and just write it off as me padding my resume...thoughts?

Just for law schools? Seems fine to me. I personally find that rather interesting.

yep....was working on my resume for my law school application. Wasn't sure if it was too odd to include.

Yah go for it then.

I certainly would. You might want to phrase it in a way they will understand and maybe leave off the part that you got bored and sold it but the business itself is quite interesting....

I have my art business listed on my resume as well... It takes some doing to build your "brand" and anyone that has run their own business will completely understand that.

JC

Yes, that's awesome. It's both intriguing and memorable.

Thanks for the input everyone! I am even thinking about weaving this into my personal statement and my interest in intellectual property...time for some brainstorming!!

JCFindley wrote:I certainly would. You might want to phrase it in a way they will understand and maybe leave off the part that you got bored and sold it but the business itself is quite interesting....

I have my art business listed on my resume as well... It takes some doing to build your "brand" and anyone that has run their own business will completely understand that.

JC

Thanks JC Def. will leave the "got bored" part out...lol!

JCFindley wrote:I certainly would. You might want to phrase it in a way they will understand and maybe leave off the part that you got bored and sold it but the business itself is quite interesting...

Yea, I would phrase this something like, "Owned and operated a virtual store dealing with X, Y, Z. In this capacity, I worked on building a brand name, interacting with customers, and handling finances."

I would make it sound as similar to a normal business as possible. You don't need to go into the fact it was on Second Life and such.

SciDoc wrote:Thanks for the input everyone! I am even thinking about weaving this into my personal statement and my interest in intellectual property...time for some brainstorming!!

Sounds like an interesting and unique personal statement!

Which means you should definitely have it on the resume.

Just out of curiosity, you registered this business and handled everything correctly regarding taxes and such?

Clearlynotstefan wrote:Just out of curiosity, you registered this business and handled everything correctly regarding taxes and such?

What would be the proper tax treatment of this anyway? You aren't making money, you are making fake money.
I suppose when you withdraw money it is "income from whatever source derived," but likely not until you withdraw it.
Is it labor income, or capital income?
What if you have fake partners online, is it a partnership?

ben4847 wrote:

Clearlynotstefan wrote:Just out of curiosity, you registered this business and handled everything correctly regarding taxes and such?

What would be the proper tax treatment of this anyway? You aren't making money, you are making fake money.
I suppose when you withdraw money it is "income from whatever source derived," but likely not until you withdraw it.
Is it labor income, or capital income?
What if you have fake partners online, is it a partnership?

Real money is actually created on this platform and you are correct in saying that it is only real currency when you use the exchange rate and withdraw it to a paypal account.

I had 1 other business partner, he received ~30% of whatever was earned that month. To answer Clearly's questions - I didn't register the business, but it was always included on my tax returns!