Research On The Legal Risk Prevention Of Internet Equity Raising In China

Internet equity raising,that is,equity crowdfunding that has emerged in recent years,refers to the new financing that companies use the Internet to rely on equity crowdfunding platforms and publish information about financing projects through online platforms at the cost of equity transfer in exchange for public investor funds.the way.Since China does not yet have a law to define the concept of equity crowdfunding,it should be called "Internet equity raising" in a strict sense from the legal point of view.The author will continue to use the following in the following due to the habit of use and ease of understanding."Equity crowdfunding".Equity crowdfunding is very important for solving the problems of financing difficulties and expensive financing for small and micro enterprises,improving the multi-level capital market,and activating private capital.It has been popular among small and micro enterprises and investors,and is also held by the national regulatory level.Encouraging attitude,but it faces many legal risks in the actual operation process.Failure to prevent these legal risks will not only hinder the development of equity crowdfunding in China,but also disrupt the capital market and infringe the rights and interests of investors.Therefore,it is imperative to establish a perfect legal risk prevention system.This article aims to sort out the legal risks that exist in the current stage of the development of China's equity crowdfunding.By drawing on the advanced foreign experience on equity crowdfunding related risk prevention measures,it attempts to put forward a series of suggestions to improve China's equity crowdfunding related systems to prevent legal risks.Specifically,this article is mainly divided into the following four parts: the first part mainly sorts out the development history,current development status and legal relationship between the entities;the second part combines the cases from equity crowdfunding financiers,investors and The three parties of the equity crowdfunding platform set out to enumerate the legal risks of each party and delve into the causes of each party's risks;the third part analyzes and references the foreign equity crowdfunding risk prevention measures.In view of the current literature research mainly in the United States and the United Kingdom,the author has selected The three countries of Italy,Japan and South Korea made detailed introductions according to the main body,briefly introduced some of the regulatory situation and practical experience of excellent platforms in other countries,and drawn three enlightenments for the current supervision of equity crowdfunding in China;Suggestions on the prevention of legal risks of equity crowdfunding in China,that is,to strengthen the supervision of financiers,establish an exemption system for small public offerings of equity crowdfunding,control the scope of financiers and financing scale,improve the information disclosure system of financiers,and strengthen equity from platform positioning and rights Crowdfunding platform supervision,through the establishment of qualified investor points System,investor cooling-off period system,third-party commercial bank fund custody system,diversified dispute resolution mechanism,and effective project exit mechanism strengthen investor protection,and innovatively explain the combination of the current popular blockchain technology and equity crowdfunding To prevent legal risks from a technical level,with a view to using the above measures to make a little contribution for the healthy development of equity crowdfunding and even the Internet financial market.