Re:Amazon forces Unglue.it to Suspend Crowdfunding for Creat...
by ScottBurson on Thursday August 09, 2012 @01:05PM
(#4362010)
No. You're thinking of equity crowdfunding. No equity is changing hands here.
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Re:Amazon forces Unglue.it to Suspend Crowdfunding for Creat...
by olefoo on Thursday August 09, 2012 @01:59PM
(#4362295)
The purchase of publication rights is an equity transaction, in that a valuable piece of (intellectual) property is changing hands. And the law as written is murky enough that it's not simple to say that crowdfunding of public benefits wouldn't be covered. Not to say that Amazon couldn't be a bit more transparent about what their concerns are. By running a crowdfunding site under the new rules; is Amazon taking on unacceptable liabilities? Could Amazon be held liable by funders if unglue.it failed to secure rights to a book they had nominated to publish?
Those are serious questions that only a lawyer can answer.
Re:Amazon forces Unglue.it to Suspend Crowdfunding for Creat...
by ScottBurson on Thursday August 09, 2012 @03:28PM
(#4362772)
The purchase of publication rights is an equity transaction, in that a valuable piece of (intellectual) property is changing hands.
Uh, no. By that definition, every transaction would be an equity transaction.
Equity specifically refers to an ownership interest in a business.