What includes every solicitation to sell a security for value?

The choice of "offer of securities" is the correct answer because it encompasses any communication or solicitation intended to induce a person to purchase a security. In the context of securities regulation, an "offer" refers to the proposal or invitation to sell securities, which is critical since the act of offering creates a legal obligation and can trigger certain regulatory requirements.

Understanding this, an "offer" includes not just the act of selling but also any advertising or solicitation that aims to encourage an individual to invest. This broad definition is essential for ensuring that all aspects of potential transactions are governed by appropriate regulations aimed at protecting investors. Offers must be compliant with state and federal laws, which ensures transparency and fairness in the securities market.

In contrast, registration by notice filing primarily pertains to the process of notifying regulatory authorities about the intent to sell securities but does not include the solicitation aspect itself. The sale of securities refers specifically to transactions where the securities are actually exchanged for consideration, while prospectus distribution relates to providing potential investors with detailed information about the offering, which is part of the sales process but does not inherently cover every solicitation of a security for value. Thus, "offer of securities" accurately captures the essence of what is being referenced in the question regarding solicitations surrounding securities