By CFB News Wire, Patent filed on CrowdFunding US 20140164291 A1 System and Method for Crowdfunded Investment Clearance and Compliance
PRIORITYThis application claims priority to U.S. Provisional Patent Application No. 61/684,229, entitled System for Crowdfund Investing, filed on Aug. 17, 2012, which is incorporated herein by reference.BACKGROUND OF THE INVENTIONThe invention relates to the system and method of providing crowdfund investment through an intermediary funding portal or online platform for crowdfunded investing, and a Clearinghouse to ensure compliance with statutes and regulations.The present invention addresses systems and methods for implementing the Jumpstart Our Business Startups Act (“JOBS”), and the rules and regulations promulgated with respect thereto.The United States Congress enacted Title III of the Jumpstart Our Business Startups Act (“JOBS Act”) in order to permit, and facilitate, investment in startup companies by investors who do not qualify as accredited investors (which includes both income and net worth requirements) required under prior law. Other parts of the Jobs Act ease the on-ramp for public offerings by emerging growth companies. However, both the Act itself and rules and regulations to be promulgated by the U.S. Securities and Exchange Commission (the “SEC”) place certain limitations on investment by such investors, including limits on the amount that any investor may invest during a specific time period, the amount of money that can be raised by any issuer using the exemption and the time during which offers to invest may be revoked.