NOTES ABOUT CROWDFUNDING IN BRAZILIAN LAW

Abstract

This purpose of this study is to analyse the discipline of several modalities of crowdfunding in Brazil through an exploratory and applied qualitative research work based in a bibliographic review and legislative analysis under the logic-deductive method. It can be verified that the great difficulty faced by those agents that wish to make use of this modality of funding is the absence of clear and precise rules for this matter and the existence of only two specific regulations over this theme: one law that concerns the investment-based crowdfunding, edited in July 2017 and another one that addresses the donation-based crowdfunding for the financing of electoral campaigns, edited in October 2017. Therefore, there is a need to search in this sparse legislation – mainly in the Civil Code – for rules to be applied in contracts entered by and between investors, platforms and project developers which have been the reason of juridical uncertainty. In effect, this article attempts to identify the discipline incident in the diverse modalities of crowdfunding and explains the rights and duties of those involved in this transaction.