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In this paper, we show that too strong investor protection may harm small firms and, thus, entrepreneurial initiatives. This situation is particularly relevant in crowdinvesting, which refers to a recent financial innovation originating on the Internet. In general, securities regulation offers...
Persistent link: https://www.econbiz.de/10010364732
Crowdfunding is a buzzword that signifies a sub-set in the new forms of finance facilitated by advances in information …
Persistent link: https://www.econbiz.de/10011730974
Academy of Comparative Law 2018 and gives an overview of the regulation of crowdfunding in Germany and the typical design of … crowdfunding campaigns under this legal framework. After a brief survey of market data, it delineates the classification of … crowdfunding transactions in German contract law and their treatment under the applicable conflict of laws regime. It then turns to …
Persistent link: https://www.econbiz.de/10011793078
Crowdfunding. Doch Ertrag und Risiko sind auch im Crowdfunding sowie bei allen anderen Finanzgeschäften strikt positiv miteinander … korreliert. Das heißt, der Investor kann durch Crowdfunding einen höheren Ertrag realisieren, geht dabei allerdings auch ein …. Werden die spezifischen Risiken des Kleinanlegers im Crowdfunding mit diesem Gesetz erfasst oder bleibt der Konsumentenschutz …
Persistent link: https://www.econbiz.de/10011286081
This paper first presents the development of the crowdinvesting market in Europe since its start in 2007. Then, using hand-collected data on the complete set of crowdinvesting campaigns run in Germany, the paper shows that successful campaigns tend to be launched by new startups and when the...
Persistent link: https://www.econbiz.de/10010439156
Crowdfunding occupies a hybrid regulatory space. Directed to “public investors,” it receives an exemption from … crowdfunding offering. Pricing disclosure in “public offerings” is prospectus boilerplate, giving little clue about the behind … negotiations with the issuer. In an online crowdfunding, neither small investors nor small issuers will know the valuation …
Persistent link: https://www.econbiz.de/10013084092
solicitation and general advertising. Title III enables "equity crowdfunding", a novel and controversial fundraising method. These …
Persistent link: https://www.econbiz.de/10013084614
solicitations. These and similar fundraising endeavors are known as crowdfunding. Social networks have the potential for using … crowdfunding to reach large numbers of people. Since crowdfunding is designed to reach a large number of people, limiting the fund … substantially unregulated activity. Crowdfunding can also be used to finance small business enterprises, which in contrast is a …
Persistent link: https://www.econbiz.de/10013092199
securities offerings. Crowdfunding — the use of the Internet to raise small amounts of money from a large number of contributors … — has become incredibly popular outside the securities context. But the use of crowdfunding to sell securities has been …, and, until now, none of the registration exemptions fit crowdfunding well. Moreover, the web sites that facilitate …
Persistent link: https://www.econbiz.de/10013066060
Persistent link: https://www.econbiz.de/10013066322