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Legal Transplantation Or Legal Innovation? Equity-Crowdfunding Regulation In Taiwan After Title Iii Of The U.S. Jobs Act, Chang-Hsien Tsai
Legal Transplantation Or Legal Innovation? Equity-Crowdfunding Regulation In Taiwan After Title Iii Of The U.S. Jobs Act, Chang-Hsien Tsai
Chang-hsien (Robert) TSAI
Crowdfunding has caused a worldwide revolution in early-stage startup financing during recent years. In the United States, the expansion of for-profit crowdfunding platforms to fund small businesses and startups prompted Congress to pass the game-changing law on equity crowdfunding, Title III of the JOBS Act in 2012 (“CROWDFUND Act”). While its specific rules and regulations as adopted by the SEC takes effect this year, the substance of the JOBS Act as a whole is geared more towards the goal of capital formation, over the historically promoted goal of investor protection. The use of equity crowdfunding has extended over to Taiwan …