American University Business Law Review
Crowdfunding is all the rage in conversations about small business finance. Yet, as with many other rapidly developing business innovations, practicing lawyers were, perhaps, secondary players in the development of business models for crowdfunding. The advent of crowdfunding (and crowdfund investing, in particular) has exposed fault lines in business lawyering. This short Article defines the crowdfunding era, highlights a few examples of observed lawyering lapses, and, in concluding, offers a brief, preliminary assessment of possible sources of these dislocations and best practices. The conclusion also expresses a related cautionary note about the need for lawyers to redouble their efforts at engaging in legal, ethical, and professional decision-making in an exciting and rapidly evolving business environment.
Heminway, Joan MacLeod, Business Lawyering in the Crowdfunding Era (2014). American University Business Law Review, Vol. 3, No. 1, 149, Available at SSRN: https://ssrn.com/abstract=3156005