Crowdfunding is a good way for startups to raise money for their product/service. Widget makers and apparel designers (including our client, Apricoat®), in particular, have made extensive use of crowdfunding to get projects off the ground.
Crowdfunding is a good way to get your startup the funds it needs, but there are a variety of pitfalls. Not protecting your Confi Info and IP, overlooking compliance issues, and not paying your taxes are all pitfalls to equity crowdfunding. Getting legal counsel in place beforehand is a great way to protect your startup and ideas. For more advice and assistance, contact the Law Office of Elliott J. Brown.