The MSBA's Art & Entertainment Law Section Presents
Crowdfunding and the JOBS Act:
What It May Mean for Creatives, Entrepreneurs and
Start-Ups in 2013 and Beyond.
Over the past several years, hundreds of millions of dollars have been raised by thousands of bands, writers, entrepreneurs, software developers, scientists, small businesses, and start-ups across the United States to pursue and fund a variety of activities, artistic endeavors, research, product development, disaster relief, and charitable efforts around the world. Crowdfunding platforms like RocketHub, Kickstarter, and IndieGoGo have changed the way creatives and companies fund their projects, inventions, art and ideas.
As of now, any crowdfunded money must be donated or exchanged for small perks like free products or discounts. However, starting in 2013, the recently passed Jumpstart Our Business Startups (JOBS) Act will allow qualifying businesses to raise up to $1 million annually in exchange for ownership or shares of the company. The SEC has been given until the end of 2012 to promulgate rules and regulations for the JOBS Act. There is much to learn and do before this historic and monumental change take place next year.
This past June, the Congressional Committee on Oversight and Government Reform held a hearing on job creation and the SEC's efforts to implement the JOBS Act. Members of RocketHub testified at the hearing on the “crowdfunding for equity” model, its potential in years to come, and what it may hold for creatives, start-ups, job growth, and the U.S. economy. As industry leaders, RocketHub has also led panels on the crowdfunding revolution at major conferences, including SXSW and CMJ.
Members of the Minneapolis indie band, The Japhies, who successfully raised nearly $7,000 through RocketHub for its debut record, and local filmmakers, Hot Head Productions, who are currently running a $50,000 IndieGoGo campaign, will also be on-hand to provide their insights and first-hand experience with crowdfunding.
Meet and learn from industry leaders (RocketHub) and creatives (The Japhies and Hot Head Productions) how the JOBS Act and crowdfunding will and already has changed the way bands, production companies, and start-ups raise money.
- Who may attend?
Members of the MSBA and the public.
What you might learn and what may be discussed:
- What is crowdfunding or crowdsourcing?
- What is the JOBS Act?
- What is a “crowdfunding portal,” like RocketHub, and what can/will they do under the JOBS Act?
- What are the benefits and dangers of the JOBS Act with respect to crowdfunding?
- How will the JOBS Act provisions affect crowdfunding in the real world?
Chair: Adam Gislason, Snyder Gislason Frasier LLC, entertainment lawyer-litigator by day, indie-dance rocker by night.
Brian Meece, RocketHub Co-Founder, singer-songwriter, ukele extraordinaire.
Gustavo Rodriguez, RocketHub Director and singer-songwriter a.k.a., Silbin Sandovar.
David Crowley, Hot Head Productions LLC, filmmaker and co-producer of “Gray State”.
Reed Wilkerson, The Japhies, lead singer and ruckus-raiser.
The Art & Entertainment Law Section will provide appetizers. The bar will be a cash bar.
Teleconferencing is not available.
2.0 Standard CLE credits have been approved. The event code is 172093.
Date: Thursday, September 27, 2012
Time: CLE Program: 4:00 p.m. - 6:00 p.m.
Happy hour mixer to follow the CLE program: 7:00 p.m. - 8:00 p.m.
Music performance by special guests, Silbin Sandovar, and others at 8:00 p.m.
Location: Crooked Pint Ale House
501 Washington Avenue South
Minneapolis, MN 55415 [Directions/Map]
Art & Entertainment Law Section Member: Free
MSBA Member but not a member of the Art & Entertainment Section: $5.00
MSBA Members: Join the Section (Must be a current MSBA member to join the section. Section membership will expire on June 30, 2013.): $43.00
Non MSBA Members: $10.00
Law Students: Free
Refunds will be processed for cancellation requests received in writing on or before noon on the registration deadline. Requests should be directed to the event contact person listed at the bottom of this notice. Cancellation requests received after this time are not eligible for refunds. You may send a colleague in your place if you are unable to join us and the registration deadline has passed.