Intellectual Property

White House Opposition Signals the End for SOPA; Anti-Piracy Legislation Continues to Brew

We wrote a post a few weeks ago discussing the reasons why we oppose SOPA (Stop Online Piracy Act). Here’s a quick update of where the bill stands currently.

Late last week, opponents of SOPA felt a sigh of relief. The reason? Perhaps the most powerful ally the Internet community could ask for, President Barack Obama, announced his Administration will not support SOPA, effectively putting a halt to passage of the bill. The White House announcement came in response to widespread opposition for SOPA, in particular, a We the People Petition signed by nearly 52,000 opponents of SOPA. The message behind the petition read “the more freely information flows; the stronger that society becomes,” a quote from President Obama.

“We we will not support...

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Business Startup

Democratizing Access to Capital Act

A few weeks ago we wrote about the Entrepreneur Access to Capital Act, a bill passed by the House that would enable businesses to raise capital through crowd funding. Senator Scott Brown has now introduced a similar bill, the Democratizing Access to Capital Act, into the Senate. Last week Senator Brown authored an article for Wired in which he hailed his bill as way to update the SEC rules for the Internet era.

What are the differences between the House and Senate bills? The Senate bill has four main differences from the bill that already passed the House. First, the Senate bill would limit investors to an investment of $1,000 per year per company. The House bill would allow individual investments of...

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Business Startup

Entrepreneur Access To Capital Act Passes House

On November 3rd, the House passed the Entrepreneur Access to Capital Act with overwhelming approval: 407-17. This Act would enable businesses to raise capital through crowd funding. Crowd funding is the contribution of small equity investments from many individuals.

Currently, federal and state laws governing the sales of securities restrict public solicitation of investors and limit fund-raising to sophisticated investors, or require a registration process that is cost-prohibitive for many entrepreneurs.

The Act restricts individual investments to $10,000 or ten percent of their annual income, whichever is lower. Businesses can raise up to $1 million dollars using this method without registering their securities unless they provide audited financial statements, in which case they can raise up to $2 million.

The Act includes a...

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