Research On Legal Regulation Of Ownership

Since the world’s first equity crowdfunding “crowdcube” was established in the Unitied Kingdoms in January of 2011, this new financial funding model, as in line with idea of “general benefits”,has set off a storm in financial reform. In November of the same year, the first equity crowdfunding “Angelcrunch” in China was founded.The equity crowdfunding became increasingly hot topic, and has gained close attention from both theoretically and practically. It is the bridge that connects the start-up enterprises and the social surplus funds, and enables ordinary people to make equity investment. But, the the equity crowdfunding still hat its issues, such as the legitimacy, the regulatory measures and legal norms, as well as the protection of investor’s benefits and other problems. In this paper, a lot of legal risk about the equity crodfunding has been sorted up and studied, and a few relevant advises has been put forwards. Specifically, this article is divided into five parts, respectively :The first part is the introduction. This part firstly introduces the background and significance of the equity crowdfunding study in the first. secondly, the research about the progress of the domestic and foreign studies. At last, expounding the ideas and methods of the study.The second part is the definition of the equity crowdfunding. Divided into three aspects: first of all, relying on references and the provisions of relevant laws and regulations, the concept of the equity crowdfunding was defined secondly, equity crowdfunding classification. Finally, introducing the four characteristics of equity crowdfunding.The third part is the analysis of the legal risk. According to the recent development of equity crowdfunding,various legal risks has been brought up from the views of the financiers, investors and the crowdfunding platforms.The fourth part is mainly the introduction of international experience. It is mainly divided into two parts: the first part is the reference of the JOBS bill system; the second part is the operation model of the UK’s equity crowdfunding “Crowdcube”.The fifth part puts forward the suggestions about the legal regulation for the equity crowdfunding. First is to amend the relevant laws to legalize the equity crowdfunding. Secondly, by referring to the JOBS Bill,placing clear obligations to equity crowdfunding platforms. At last, in order to safeguard the rights and interests of investors, establishing an investors’ appropriate system, Valuation Adjustment Mechanism system, guarantee mechanism, and the withdrawal mechanism etc.