Cambridge Society for Law and Governance in the New Economy: 'A Comparative Analysis of Crowdfunding Rules in the EU and U.S.'

This is the inaugural talk of the Cambridge Society for Law and Governance in the New Economy. Professor Teresa Rodríguez de las Heras Ballell will be presenting her paper 'A Comparative Analysis of Crowdfunding Rules in the EU and U.S.'

Bio

Teresa Rodríguez de las Heras Ballell is Associate Professor of Commercial Law at University Carlos III of Madrid, Spain. She is a Visiting Fellow at Harris Manchester College, Oxford University and has been a Transatlantic Technology Law Fellow at Stanford Law School since 2015. She has also held visiting teaching and research positions at Columbia Law School, the University of Washington, and the University of Tokyo. Her main research interests are digital law (crowdfunding, shared economy, electronic platforms, digital intermediaries), international business transactions and secured transactions and corporate finance.

Abstract

The development of modern economies critically depends on the existence and smooth functioning of credit markets. Recent periods of crisis and economic turmoil have appreciably debilitated financing muscle in our economies. Accordingly, credit facilities have been dramatically limited. In such a context, the search for alternative financing sources has become a priority for social, business, research, or cultural projects. Crowdfunding emerges as an encouraging alternative to traditional funding sources able to promote, boost, and support a variety of projects. The increasing volume and scope of the phenomenon has increased legal concerns. Within this context, the aim of this research is two-fold. First, to outline crowdfunding from a legal perspective and to identify operating business models and legal variants. Second, to provide a framework for the comparative analysis of rules on crowdfunding in the EU and the US and to develop qualitative conclusions. A comparative approach to US/EU regulatory processes may reveal differing views both in legal solutions and in procedural decisions, which might provide some helpful insights to the process in the EU.

Jenifer Varzaly & Pablo M. Baquero
Co-convenors, Law and Governance in the New Economy