Study On The Law Accountability Mechanism Of The Actors Involved In Reward Crowdfunding

As one of the internet finance models,crowdfunding has grown quickly over the past few years.Reward crowdfunding is one of the crowdfunding models,and it takes a very important role in encouraging people to set up their own business and helping those newly established enterprises to finance.Besides assisting people in the realization of their dreams,reward crowdfunding also provides a stage for originality.However,numerous investors are involved in reward crowdfunding and it will cost a lot if they bring lawsuits when in face of legal disputes.As a result,traditional judicial remedy can't provide effective support in resolving this kind of legal disputes,investigating relevant actors' law accountability who trespass others' legitimate rights and interests and providing the victim with effective remedy.Therefore according to the principal of protecting the investors' rights and interests as well as promoting the development of reward crowdfunding we should build the law accountability mechanism of the actors involved in reward crowdfunding on the basis of considering the particularity of the aforesaid mechanism.The law accountability mechanism of the actors involved in reward crowdfunding should be built with an internet finance dispute resolution platform and allocating the actors' law accountability properly.By reference to the arbitration commissions of labor dispute the internet finance dispute resolution platform would better have a special and independent management subject.The legal nature of this management subject should be a quasi-judicial organization,which can supply the internet finance dispute resolution platform with legal basis for handling the disputes of the internet finance.And we can adopt the “arbitration or trial” system to connect the internet finance dispute resolution platform with the people court so that we can provide the victim with effective remedy.As for the legal disputes caused by different actors involved in reward crowdfunding,the internet finance dispute resolution platform and the people court should allocate the actors' law accountability properly in accordance with Contract Law,Law of Responsibility on Rights Violation,The Consumer Protection Law and the contracts between the different actors.As the startup subject of the law accountability mechanism of the actors involved in reward crowdfunding it is the responsibility of the internet finance dispute resolution platform and the people court to protect the investors legitimate rights and interests as well as promote the development of reward crowdfunding.