Posted on December 8, 2011
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A hat tip to my good friend, Eric Jackson, over at CapLinked for bringing this to my attention.
The following information is from Scott Walker, Esq.:
On November 3rd, the U.S. House of Representatives passed H.R. 2930 (the "Entrepreneur Access to Capital Act"), a crowdfunding bill that will allow startups to offer and sell securities via crowdfunding sites like Kickstarter and social networking sites like Facebook and Twitter. As I discussed in my post, "FAQ: What the new U.S. crowdfunding bill means for entrepreneurs," this is a game-changer for startups and lifts certain securities law prohibitions that have been on the books since the 1930's. Since I wrote that post, I have received numerous emails and phone calls regarding the House bill, which I will address below.
Are There Any Differences Between the House Bill and the Senate Bill?
Yes, there are four significant differences:
You have to read the rest. Venture fundraising is about to be completely turned on it’s head. In the right hands (and inevitably there will be a lot of scams here) this is going to open up a whole new world of opportunity for the proverbial “two guys in a garage” everywhere.
Crowdfunding Update: FAQ's For Entrepreneurs
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