relationships adequately in the regulatory framework. This paper analyzes the German regulation of crowdinvesting and finds that it …

Academy of Comparative Law 2018 and gives an overview of the regulation of crowdfunding in Germany and the typical design of … the relevant rules in prudential banking regulation and capital market law. It highlights disclosure requirements that … flow from both contractual obligations of the initiators of campaigns vis-à-vis contributors and securities regulation …

The fiduciary duty of members of a business association has its origins in partnership law. The unlimited liability to … not abused.Shareholders are not liable for debts of the company. The risk of unlimited liability underlying the fiduciary …-exclusive explanations are submitted in support of a shareholders' fiduciary duty. The first explanation rests on the characterization of …