论领投人模式下股权众筹法律风险及其应对方案

On the Legal Risks and the Response Options of Equity-Based Crowdfunding in Leading Investor Mode

股权众筹自2012年末进入我国以来得到迅速发展,成为了继第三方支付、P2P网贷平台之后又一具有前景的互联网金融模式。虽然股权众筹对初创中小微企业的融资渠道的拓展具有不可或缺的作用,但是,由于我国立法未能迅速跟进,其发展不可避免地将面临诸多法律风险。本文分析了目前我国最盛行的领投人模式下的股权众筹面临的法律风险,通过对外国立法经验的借鉴,结合我国具体国情,提出相关防范建议,以期有益于我国资本市场的发展。

Equity-based crowdfunding becomes another perspective intemet financial model following third-party payment, P2P network loan platform since the end of 2012 when it entered our country.Although equity-based crowdfunding is indispensable to the expanding of financing channels for medium small and micro-sized start-ups,our legislation is un- able to catch up rapidly,so it will confront a great deal of legal risks inevitably when developing.This article starts from the most popular equity-based crowdfunding in leading investor mode,by analyzing the foreign successful legislation ex- perience and combined with the specific situation of our country ,analyzing potential legal risk and put forward construc- tive opinions and targeted advice on legal risk prevention to prospering development of China＇s capital market.