Research On Legal System Of Product Crowd-funding Sponsors' Prevention Of Default Risks

Crowd-funding intends to raise funds for the general public,which refers to the behavior of the project sponsor to directly finance the supporters and promise to give back.According to the different returns of crowd-funding projects,crowd-funding is currently divided into four types: equity crowd-funding,product crowd-funding,debt crowd-funding,and public welfare crowd-funding.Product crowd-funding refers to the sponsor's commitment to use its own products or services as the return content.Investors,mean project supporters,will invest funds in the sponsor.After the crowd-funding goal is reached,the sponsor will develop the product or service for free according to the contract or a cost-effective way of returning to investors.With the continuous development of Internet technology and the continuous growth of the market economy,China's Internet crowd-funding as a whole has maintained a high growth rate,especially the absolute scale growth rate of product crowd-funding.However,we still need to see that product crowd-funding is still in the development stage in our country,and the risk of the promoters defaulting always exists.In the review and management of the promoters and the initiated projects,the fund management in the crowd-funding process,the protection of the rights and interests of supporters,crowd-fundingplatforms still lack a sound legal mechanism.In 2016,the number of product crowd-funding in China increased to 34.54 million.Although the amount of individual supporters participating in the crowd-funding project is small,according to relevant data,it can be seen that the frequency of disputes in product crowd-funding due to the promoters' default is not low.The consequences can be imagined.Therefore,it is necessary and urgent to regulate and supervise the product crowd-funding market,especially to prevent the risk of default of product crowd-funding promoters,so as to protect the interests of product crowd-funding supporters and reduce or even avoid the serious negative society that may occur as a result.Influence and promote the development of the entire crowd-funding industry.Based on the experience of foreign product crowd-funding promoters of the legal system for risk prevention of breach of contract,it can provide some inspiration for the improvement of China's relevant systems.With supporters' interests as the starting point,strengthen the transparency and standardization of the crowd-funding process,and build a multichannel dispute resolution method.According to the Chinese current situation of the product crowd-funding promoters' default risk prevention system,we can improve this question from these aspects.First,under the guidance of relevant departments,establish a unified review standard for the product crowd-funding industry and control the entiremarket from a macro perspective.The second is to strictly control the eligibility review of sponsors and initiating projects.Not only must the crowd-funding platform that undertakes the review obligations clearly define the scope and extent of the review,but also the sponsor must be forced to disclose information.The third is to establish sponsorship between the crowd-funding platforms.Human breach information information linkage system to prevent secondary damage to supporters;Fourth,improve the application scope of product crowd-funding after-sales services and restrict the "safe harbor" provisions of the crowd-funding platform to improve supporters' recovery measures,while trying to apply the class action system to better protect the rights and interests of supporters;Fifth,for the current legal requirements The blanks promote the popularity of product crowd-funding contracts and make the judges well-founded.Through these to prevent the risk of default of product crowd-funding promoters,promote the improvement of the prevention system.