Required:
Advise Howard about the potential use of Crowdfunding to develop his idea. In particular answer the following:
a) Define and explain the meaning of crowdfunding and how it actually works as a mechanism for capital raising.
b) Give at least one example of crowdfunding used in a commercial context that has led to the development of a commercial idea, product, good or service and at least one where crowdfunding was successfully used in the social or charitable context.
c) Research and then explain to Howard the legislative framework enacted for the regulation of Crowdfunding in Australia in March 2017 under the Corporations Amendment (Crowd-sourced Funding) Act 2017. Compare the Australian approach to the regulation of Crowdfunding with at least one international jurisdiction’s approach to the regulation of crowdfunding.
COLLEGE OF LAW AND JUSTICE SCHOOL OF LAW BLO 5540 - BUSINESS AND COMPANY LAW ASSIGNMENT Semester 2 2017 Howard Jones has an idea that appears to be able to double the life of batteries used for the storage of electricity in the solar energy market. He becomes aware that crowdfunding is a mechanism for raising capital to develop his idea and bring it to market rather than going down the usual and traditional corporate fundraising process under Chapter 6D of the Corporations Act 2001. Required: Advise Howard about the potential use of Crowdfunding to develop his idea. In particular answer the following: a) Define and explain the meaning of crowdfunding and how it actually works as a mechanism for capital raising. b) Give at least one example of crowdfunding used in a commercial context that has led to the development of a commercial idea, product, good or service and at least one where crowdfunding was successfully used in the social or charitable context. c) Research and then explain to Howard the legislative framework enacted for the regulation of Crowdfunding in Australia in March 2017 under the Corporations Amendment (Crowd-sourced Funding) Act 2017. Compare the Australian approach to the regulation of Crowdfunding with at least one international jurisdiction’s approach to the regulation of crowdfunding. (5 + 10 + 15 = 30 marks) SUGGESTED REFERENCES: Required readings Fitzpatrick J, Symes C, Veljanovski A, Parker D. (2017) Business and Corporations Law, 3nd Ed., Lexis Nexis Butterworths. Chapter Recommended readings General recommended Textbooks: Seddon, N; Bigwood, R; Ellinghaus, M, Cheshire & Fifoot Law of Contract, 2012 10th Australian Edition LexisNexis. Sweeney, O’Reilly & Coleman, 2013, Law in Commerce, 5th Ed., LexisNexis. Stephen Graw, 2011, An Introduction to the Law of Contract, 7th Ed., Thomson Reuters. Latimer, P, Australian Business Law CC, 2016 Edition. Vermeesch,R B, Lindgren, K E, Business Law of Australia Butterworths, 12th Edition, 2011. Graw, Parker, Whitford, Sangkuhl and Do, Understanding Business Law 7th ed LexisNexis Butterworths, 2015. Lipton P, Herzberg A and Welsh, M, Understanding Company Law, 18th edition 2016 Thomson Reuters. Harris, J. Hargovan, A. Adams, M. Australian Corporate Law LexisNexis Butterworths 5th edition, 2015. Vermeesch, R B, Lindgren, K E, Business Law of Australia Butterworths, 11th Edition, 2005. Pentony, Graw, Lennard & Parker, Understanding Business Law 3rd ed Butterworths, 2009. Crosling G M, Murphy H M, How to Study Business Law 4th Edition, Butterworths, 2009. The papers will be marked on the following basis: Criteria Percentage of marks awarded 1. Depth of understanding of the topic and identification of relevant issues. 2. Awareness accuracy of the nature and content of relevant law. 3. Clarity and coherence of the analysis and quality of discussion and argument. 50 per cent Writing and communication skills 30 per cent Research skills 20 per cent Referencing In law, the preferred referencing style is footnoting. Students are reminded that they will lose marks if they merely reproduce passages copied word for word from texts and other references without attempting to convey information and express ideas in their own words. Of course this does not preclude the intelligent use of relevant quotations in respect of which proper references are given. It should be noted that the references must be given in respect of all material included in the essay. References are not to be confined to situations in which the writer is citing a particular case or using a direct quotation. For example, if the writer is putting forward a legal proposition or using a statement or idea drawn from a specific source, that source must be acknowledged by reference. It is essential that references be properly acknowledged at all times and marks will be deducted if this is not done. References may be acknowledged by numbering them consecutively throughout the essay and by giving details of the references by way of numbered footnotes at the bottom of the relevant page, or by way of a list at the end of the essay. Note carefully that the edition and page numbers of references must be given: it is not sufficient to merely give the name and author of the work. When referring to cases, the full case citation must be given. In addition, a bibliography should always be included at the end of the essay. Students should contact the lecturer if they are in any doubt as to the requirements for the giving of references. Referencing: Footnotes or end-notes must be used to acknowledge the source or sources of information contained in the assignment. Footnotes are preferred, but either will be accepted. In regard to the acknowledgment of references and matters of style and presentation, students are referred to: 1. Australian Guide to Legal Citation – VU Library Homepage. For all referencing questions for your assignment or any legal writing See: Australian Guide to Legal Citation: The VU Library has a 4 page edited version under Information for researchers: Click on Information for researchers and then click on Referencing and then click on Style Manuals. A copy of the Australian Guide to Legal citation is also available on VU Collaborate. See: http://w2.vu.edu.au/library/referencing/files/AGLC2.pdf 2. G.R.E. Phillips and L.H. Hunt, Writing Essays and Dissertations, 3. G Campbell, The Little Black Book. (available in the bookshop). Students are required to pay careful attention to spelling, expression, and legibility in the writing of their essays. There should be a margin on the left hand side of each page. Students should keep a copy of the essay submitted. . Format · Typed preferably and double-spaced · Title page with student name and number, Subject code and name, topic · A4 paper · Sequential page numbering · No folders Assignments must be typed (word processor), using one side of the page only and leaving a wide margin. The word limit is 2,000 words.