Law Practical Research Of Equity-based Crowd-funding And The International Experience

In the era of Internet finance, as a emerging financing mode, Equity-based crowd-funding has played a more important role in the market. Firstly, this paper will define the concept and the transaction mode of Equity-based crowd-funding, then, analyze the legal system of Equity-based crowd-funding in both domestic and foreign, and the difficulties of the operation of Equity-based crowd-funding in practice. By doing this, this paper intends to provide the beneficial references for the formulation of the legal system of Equity-based crowd-funding.The first part is to introduce the basic concept, feature, type and main mode of Equity-based crowd-funding, most importantly, the legal relation of Equity-based crowd-funding.Through analyzing the related provision of Equity-based crowd-funding in the Security Law, Criminal Law and Civil Law, the second part will find out the difficulties of applying the Equity-based crowd-funding in practice.The third part intends to describe the issuance of immunity, the investment threshold settings, the disclosure of information and the cash flow regulation of Equity-based crowd-funding in British, America and Japan.The fourth part describes the attempt of legislation of Equity-based crowd-funding, and analyzes the experience of other countries in legislation. By doing this, I will give some suggestions of how to formulate our country’s legal system in Equity-based crowd-funding area.