Jobs Act and Crowdfunding

The JOBS Act, which was signed into law on April 5, 2012, seems to offer a great way to capitalize startups, early stage, or even more mature ventures through crowdfunding .  Attorney for N2VATE, Eric Alspaugh, spent four hours researching the Act to gain some insights.  Here’s a brief review of his findings, below:

•  According to the LAW, the SEC must issue regulations by  January 1, 2013 (270 days from passing the law).  None of the crowd source portals can begin operations before that.
• The main issue will be the registration with SEC. The law makes it sound like the site must still have a broker dealer from a national association- which would make this difficult for most potential beneficiaries.
• A big issue which everyone is missing, except for the lawyers, is that the Officers of the company will be personally liable – no corporate shield!
• Another important issue is whether VC or other investors will be deterred from follow-on investment.
• It appears that there is a million dollar limit.

Please post your own insights and knowledge.

Download a copy of the Jobs Act here: JOBS Act 2012

Download a copy of the Jobs Act Summary here: JOBS ACT Summary (2)1

For more information contact legal@N2VATE.com.

Below is a list of crowd funding resources from http://coolintl.com/  April, 2012:

Debt Funding via Crowdfunding

• https://www.lendingclub.com/home.action
• http://www.prosper.com/
• https://www.peerform.com/
• http://rebirthfinancial.com/

Variety & Creative Projects

• http://www.indiegogo.com/
• http://www.kickstarter.com/
• http://www.gofundme.com/
• http://www.createafund.com/
• http://www.kapipal.com/
• http://www.cofundus.com/
• http://invested.in/
• http://www.rockethub.com/
• http://www.unitedstatesartists.org/
• http://www.thepoint.com/
• http://www.pleasefund.us/
• http://www.feedthemuse.net/
• http://www.crowdtilt.com/
• http://www.artistshare.com/
• http://foundups.com/
• Ireland: http://www.fundit.ie
  • Fund it is an all-island (Ireland) crowdfunding website for Ireland’s creative projects, giving everyone the power to help good ideas happen.
• UK: http://www.co-fund.me/
  • We at Co-Fund.Me believe in the concept of Functional Creativity – that is objects that are designed well with a purpose and have an air of cleverness about them, will undoubtedly find a market. We understand how hard it is for international product and industrial designers, innovators and technologists to raise money off an idea and this is why we started the Co-Fund.Me site
• http://www.techmoola.com/
  • TechMoola.com is a crowdfunding site for technology based projects. Are you an inventor and looking to take your project to the next level and need investment? Here is the place to do it. Whether you have developed the latest and coolest smartphone app or a new golf club or solar energy device, you can post your project for direct and support from the public. It is here where inventors meet investment. So techies of the world unite!

Books: www.authr.com

 

Music

• http://www.sonicangel.com/
• https://www.ioumusic.com/

Film

• http://www.connectedfilm.com/
• http://www.buyacredit.com/
• http://www.piratemyfilm.com/
• http://www.ironsky.net/
• http://www.filminteractor.com/
• http://aswarmofangels.com/
• http://cinemashares.com/

Share Expenses

• http://www.chipin.com/
• http://www.friendfund.com/
• http://www.socialgift.com/

Charitable

• http://www.youcaring.com
  • YouCaring is a free fundraising website for people who need to raise funds for medical expenses, tuition assistance, adoption fundraising, funding for mission trips and other personal needs. It provides a simple and organized platform to implement fundraiser ideas and help achieve fundraising goals.
• http://www.firstgiving.com/
• http://www.causevox.com/
• http://fundly.com/
• http://www.crowdrise.com/
• https://www.fundraise.com/
• http://ready.33needs.com/
• http://startsomegood.com/
• http://www.helpersunite.com/
• http://www.clearlyso.com/
• http://www.savanza.com/
• http://www.citizeneffect.org/
• http://www.razoo.com/
• http://www.kiva.org/
• http://www.inventure.org/
• http://www.pinkdingo.com/
• http://www.microgiving.com/
• https://www.zidisha.org/
• http://www.unitedprosperity.org/

Marketing, Communications, Media, Public Messages

• http://loudsauce.com/
• http://www.spot.us/
• http://www.emphas.is/
• http://www.advertactivist.com/

App Software Development

• http://www.appsfunder.com/
• http://www.feedthemuse.net/
• http://kachingle.com/
• http://8bitfunding.com/

Businesses / Ventures / Start ups

• http://www.McKenson-Invest.com
  • an online platform that connects investors looking for new investment opportunities with entrepreneurs seeking funding.
• http://www.earlyshares.com/
• http://www.gust.com/
• http://www.bolstr.com/
• http://www.angelfunder.com/
• https://www.profounder.com/
• http://crowdbackers.com/
• http://www.seedups.com/
• http://www.growvc.com/
• http://www.wealthforgeonline.com/
• http://www.mediashares.com/
• http://www.40billion.com/
• http://peerbackers.com/
• http://crowdfundingbank.com/
• http://www.venturesocially.com/
• http://www.microventures.com/
• http://www.p2pfinancial.ca/
• http://www.propertypeers.com/
• http://revenuetrades.com/
• http://www.bloomvc.com/
• https://www.mycapital.com/
• http://www.investengine.com/
• http://www.raisecapital.com/
• http://www.pitchcrunch.com/
• http://angel.co/
• http://www.go4funding.com/
• https://secure.caplinked.com/
• http://www.businesspartners.com/
• http://www.ongreen.com/
• http://www.luckyant.com/

White Label Crowdfunding, Developer API, Crowdfunding Development Partners

• http://www.launcht.com
  • Launcht enables organizations, companies, and institutions to create their own dynamic white labeled crowdfunding and voting platforms. These platforms empower your crowd to engage with and fund your community’s projects and ideas, connecting with their cause and furthering your mission.
• http://senzoo.net/
• http://platform.invested.in/
• http://www.growvc.com/main/