Our lawful basis for processing personal data from you is that it is necessary for our legitimate interests. These legitimate interests are running and growing our business, performing and developing our product/services for you, complying with applicable laws and regulations, preventing fraud, marketing, and IT security.
You have the absolute right to object to the processing of your personal data for direct marketing purposes. For instructions on how to object, please see below under “Opt-out Policy”.
Non-Personally Identifiable Information
SeedInvest collects Non-Personally Identifiable Information from you regarding your usage of our products and services. Non-Personally Identifiable Information refers to data that does not, by itself, identify individual persons and may include, without limitation, website pages viewed, articles, presentation and videos viewed, time spent using certain features of the website, demographic data such as server locations, cookies existing on your devices used to access SeedInvest, search criteria used and results, date, time, connection speed, internet protocol ("IP") address, which may also be contained on server logs, and/or other information which does not specifically identify you. We collect this information using various technologies, including, but not limited to, cookies and server logs. "Cookies" are pieces of information that may be placed on your device by a website for the purpose of facilitating and enhancing your communication and interaction with that website. "Server logs" can be either a single log file or several log files automatically created and maintained by a server of activity performed by the server, which can include information about any transaction you conduct with the server.
Personally Identifiable Information
SeedInvest also collects Personally Identifiable Information from you when you interact with our products and services and communicate with a member of our team, including but not limited to, when you sign up for an account, make an investment, verify your identity, record and verify accredited investor status, provide payment instructions, or send us an email through the SeedInvest website. Personally Identifiable Information refers to information that allows us to identify you personally. Such information may include, but is not limited to, your email address, name, phone number, birthday, age, Social Security number and/or taxpayer identification number, investment objectives, investment experience, assets and income, information from your transactions with us (such as your account balance and account usage), information obtained from others (such as the Internal Revenue Service and credit reporting agencies), physical address (such as home or business address), or other information you provide or upload to the website (such as photographs, answers to questionnaires or surveys, or responses filled in on blank forms made available on the site).
We refer to Personally Identifiable Information and Non-Personally Identifiable Information collectively herein as "Personal Data". We may collect and store information, which could include Personal Data, locally on your computer or device using mechanisms such as browser web storage or application data caches.
Our collection of Personal Data is necessary to our legitimate interests, which serves as our lawful basis for processing your Personal Data. Such legitimate interests are to run our business, keep our records updated, ensure legal and regulatory compliance, fulfill our obligations as a registered broker-dealer, develop our products/services, and inform our marketing strategy.
You may obtain confirmation and a copy of the Personal Data we’ve collected from you by contacting us at firstname.lastname@example.org.
We will only retain your Personal Data for as long as necessary to fulfill certain legal, accounting, or reporting requirements. To determine the appropriate retention period for Personal Data, we consider the amount, nature, and sensitivity of the Data, the potential risk of harm from unauthorized use or disclosure of your Personal Data, the purposes for which we process your Personal Data and whether we can achieve those purposes through other means, and the applicable legal and regulatory requirements.
We use third party analytics programs and service providers which can use first party cookies to report on your interactions with the SeedInvest website, including, but not limited to, the time of each of your visits to the SeedInvest website, whether you have visited the SeedInvest website before, what site referred you to the SeedInvest website, and what pages you viewed on the SeedInvest website. We also share Personal Data with third parties to perform ad measurement services on your behalf.
Reimbursable Expenses to SeedInvest. Upon a successful Offering, Company shall reimburse SeedInvest $10,000 to cover costs associated with escrow, operational, due diligence, and legal fees (the “Expenses”) at the initial Closing.
Failed Offerings. Company shall not be billed Expenses or owe Compensation to SeedInvest, except with respect to a potential tail fee, if after the Launch Date no Prospects invest in the Offering or Company fails to reach its stated minimum funding goal for the Offering (in each instance, a ”Failed Offering”).
Ongoing Reporting Obligations. Following Closing of the Offering, and until the date at which Company is acquired, conducts its initial public offering and is listed on a national exchange, or completes a formal dissolution,, Company shall be responsible for providing quarterly updates directly to SeedInvest and each Prospect who purchased securities in the Offering (within 60 days following the close of each calendar quarter, or as otherwise specified in the Company's Charter, Investor Rights Agreement, or other similar document) in substantially similar form as can be found here [Include Link of Reporting Form] which may be updated by SeedInvest from time to time. Such updates shall include at least the following information: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) notable press and news. Should Company engage a third party service provider to assist with investor relations, this does not release Company of any of its obligations under these terms, including its ongoing reporting obligations. For the avoidance of doubt, once the Launch Date has occurred, then this section shall survive termination, except in the case of a Failed Offering (as defined below).
Term. The initial term shall be sixty (60) days following the date on which SeedInvest notifies the Company that it has received SeedInvest’s review and approval by its internal committee to onboard Company onto the Online Platform (the “Initial Term”). The Initial Term shall automatically renew for successive thirty (30) day periods (each a “Renewal Term”, and together with the Initial Term, the “Term”).
Termination. The Term will automatically terminate at the earlier of the final Closing or on the one-year anniversary date of the Effective Date (the “Termination Date”). Either party may terminate these terms at any point prior to the date on which the Company agrees to the attached Exhibits by providing written notice (“Early Termination”). Furthermore, if SeedInvest chooses not to serve as Company’s placement agent for the Offering, in its sole discretion, these terms shall automatically terminate, and no Compensation or Expenses shall be due.
Fees Due at Termination or Expiration of Initial Term. Except in the case of a Failed Offering, if subsequent to agreeing to the attached Exhibits, the Launch Date does not occur prior to the end of the Initial Term or Company provides notice of termination prior to a Closing, Company authorizes SeedInvest to charge Company the Expenses of $10,000 as described above, which shall be due immediately.