Research On Legal Issues Of Reward-based Crowd-funding

As a new form of Internet finance which is closely related to consumption,reward-based crowd-funding raise funds via the Internet for micro enterprises and entrepreneurial individuals,its high efficiency,low-cost advantage has set off a surging wave in the financial markets.Due to the nature of its novelty,it has brought many problems along with its explosive development,but more and more success stories of reward based crowd-funding has proved the positive significance of its existence.Contrast with traditional financial method which has more comprehensive laws,reward-based crowd-funding relies on the internet.In addition to financing and investors,crowd-funding platform also joined as the third subject,so legal relationship between those subjects are more complicated.applying the laws which adjust some well-known contract directly may lead a party can not take into account,so it is very important to discuss the legal rights and obligations of each body of reward-based crowd-funding contract.To solve various legal issues arising in the course of development of would help to play its positive role better.This paper is divided into four parts:Chapter One is overview of the reward-based crowd-funding.Firstly it introduces definitions and classifications of crowd-funding,then it introduces reward-based crowd-funding in many ways such as content,the tripartite structure,the development in domestic and international and the current legislation of status.Chapter Two is the analysis of legal relationship between the three parties of reward-based crowd-funding.Comparative analysis will be concluded to contrast rewarded based crowd-funding contract with cohabitation contracts,agency contracts,sales contracts,donation contracts bearing obligations and conditional sale contract.Chapter Three is the analysis of core legal risk of reward-based crowd-funding.From the perspective of tripartite body,this part analyzes the outstanding legal risks faced by reward-based crowd-funding.Chapter Four includes some legal system recommendations to reward-based crowd-funding.Contrary to outstanding legal issues and legal risks of reward-based crowd-funding,suggestions are discussed from three aspects:the legal system,industry and investor protection regulations.At present,the research of reward-based crowd-funding focused on the financial perspective,research from a legal point remains less.The main innovation is that this paper research reward-based crowd-funding from a legal point,this paper defines the concept of reward-based crowd-funding and analyzes the legal relations and legal risk of reward-based crowd-funding,analyzes legal issues that arose in practice one by one and raises some suggestions.