Legal Business

CMS: Crowdfunding litigation – power to the people?

Tim Hardy

Partner, CMS

tim.hardy@cms-cmck.com

David Bridge

Senior associate, CMS

david.bridge@cms-cmck.com

When the people of France gave the Statue of Liberty to the US in 1886, they left it to the people of the US to fund the acquisition of a site and build the pedestal. Fundraising proved difficult until the publisher of the New York World started a campaign that attracted over 120,000 donations, most of which were less than a dollar.