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Your Move? Kickstarter and the Evolution of Game Crowdfunding
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<blockquote data-quote="Desh-Rae-Halra" data-source="post: 7681722" data-attributes="member: 81852"><p>Roger,</p><p></p><p>Being a backer establishes a contract. It is not necessarily that a project fails (that sucks), but that Project Creators who fail often seem to not follow ANY of the guidelines about transparency or attempt to fix the situation (see below). I have, on the other hand, seen projects be slow to deliver, and post openly about what is going on. Although there will always be someone who is disgruntled, quite often something good happens in that backers help offer other solutions, and I have even seen backers contribute more money via paypal so that other (usually International Backers) can receive their rewards, or at least subsidize shipping in some way. </p><p>So yes, a project can fail, but backers are not to blame for that. In fact, we are entitled to see how the money was spent (which mysteriously almost NEVER happens). </p><p> I can tell you from the Matt Solarz/Center Stage Miniatures that went through Bankruptcy court that the backers were not considered venture capitalists, but creditors (essentially customers who had made exchanged money for measureable and specific promised goods. Kickstarter is not an "investment" platform, otherwise you have to have licenses for that. People may use the term casually that they are investing/backing an end result, but the U.S. Court does not see it that way in terms of the legal definition of "investment".</p><p> </p><p></p><p>Kickstarter's Terms of Use</p><p></p><p></p><p>Kickstarter provides a funding platform for creative projects. When a creator posts a project on Kickstarter, they’re inviting other people to form a contract with them. Anyone who backs a project is accepting the creator’s offer, and forming that contract.</p><p></p><p>Kickstarter is not a part of this contract — the contract is a direct legal agreement between creators and their backers. Here are the terms that govern that agreement:</p><p></p><p>When a project is successfully funded, the creator must complete the project and fulfill each reward. Once a creator has done so, they’ve satisfied their obligation to their backers.</p><p></p><p>Throughout the process, creators owe their backers a high standard of effort, honest communication, and a dedication to bringing the project to life. At the same time, backers must understand that when they back a project, they’re helping to create something new — not ordering something that already exists. There may be changes or delays, and there’s a chance something could happen that prevents the creator from being able to finish the project as promised.</p><p></p><p>If a creator is unable to complete their project and fulfill rewards, they’ve failed to live up to the basic obligations of this agreement. To right this, they must make every reasonable effort to find another way of bringing the project to the best possible conclusion for backers. A creator in this position has only remedied the situation and met their obligations to backers if:</p><p></p><p> they post an update that explains what work has been done, how funds were used, and what prevents them from finishing the project as planned;</p><p> they work diligently and in good faith to bring the project to the best possible conclusion in a timeframe that’s communicated to backers;</p><p> they’re able to demonstrate that they’ve used funds appropriately and made every reasonable effort to complete the project as promised;</p><p> they’ve been honest, and have made no material misrepresentations in their communication to backers; and</p><p> they offer to return any remaining funds to backers who have not received their reward (in proportion to the amounts pledged), or else explain how those funds will be used to complete the project in some alternate form.</p><p></p><p>The creator is solely responsible for fulfilling the promises made in their project. If they’re unable to satisfy the terms of this agreement, they may be subject to legal action by backers.</p></blockquote><p></p>
[QUOTE="Desh-Rae-Halra, post: 7681722, member: 81852"] Roger, Being a backer establishes a contract. It is not necessarily that a project fails (that sucks), but that Project Creators who fail often seem to not follow ANY of the guidelines about transparency or attempt to fix the situation (see below). I have, on the other hand, seen projects be slow to deliver, and post openly about what is going on. Although there will always be someone who is disgruntled, quite often something good happens in that backers help offer other solutions, and I have even seen backers contribute more money via paypal so that other (usually International Backers) can receive their rewards, or at least subsidize shipping in some way. So yes, a project can fail, but backers are not to blame for that. In fact, we are entitled to see how the money was spent (which mysteriously almost NEVER happens). I can tell you from the Matt Solarz/Center Stage Miniatures that went through Bankruptcy court that the backers were not considered venture capitalists, but creditors (essentially customers who had made exchanged money for measureable and specific promised goods. Kickstarter is not an "investment" platform, otherwise you have to have licenses for that. People may use the term casually that they are investing/backing an end result, but the U.S. Court does not see it that way in terms of the legal definition of "investment". Kickstarter's Terms of Use Kickstarter provides a funding platform for creative projects. When a creator posts a project on Kickstarter, they’re inviting other people to form a contract with them. Anyone who backs a project is accepting the creator’s offer, and forming that contract. Kickstarter is not a part of this contract — the contract is a direct legal agreement between creators and their backers. Here are the terms that govern that agreement: When a project is successfully funded, the creator must complete the project and fulfill each reward. Once a creator has done so, they’ve satisfied their obligation to their backers. Throughout the process, creators owe their backers a high standard of effort, honest communication, and a dedication to bringing the project to life. At the same time, backers must understand that when they back a project, they’re helping to create something new — not ordering something that already exists. There may be changes or delays, and there’s a chance something could happen that prevents the creator from being able to finish the project as promised. If a creator is unable to complete their project and fulfill rewards, they’ve failed to live up to the basic obligations of this agreement. To right this, they must make every reasonable effort to find another way of bringing the project to the best possible conclusion for backers. A creator in this position has only remedied the situation and met their obligations to backers if: they post an update that explains what work has been done, how funds were used, and what prevents them from finishing the project as planned; they work diligently and in good faith to bring the project to the best possible conclusion in a timeframe that’s communicated to backers; they’re able to demonstrate that they’ve used funds appropriately and made every reasonable effort to complete the project as promised; they’ve been honest, and have made no material misrepresentations in their communication to backers; and they offer to return any remaining funds to backers who have not received their reward (in proportion to the amounts pledged), or else explain how those funds will be used to complete the project in some alternate form. The creator is solely responsible for fulfilling the promises made in their project. If they’re unable to satisfy the terms of this agreement, they may be subject to legal action by backers. [/QUOTE]
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