crowdsourcing

[film123]

Hi I am a professor in a film school in california and I am thinking of setting up a website where my students can raise money for their short films from friends and others as a donation (where all the money goes to students only). They are presently using crowd sourcing websites like indiegogo or kickstarter but I see no reason in using them since they usually take a percentage of money. So are there any legal huddles for setting up such a website?

 

[HomeGuru]

Hi I am a professor in a film school in california and I am thinking of setting up a website where my students can raise money for their short films from friends and others as a donation (where all the money goes to students only). They are presently using crowd sourcing websites like indiegogo or kickstarter but I see no reason in using them since they usually take a percentage of money. So are there any legal huddles for setting up such a website?

**A: you need to be talking to the school administrators.

 

[tranquility]

So are there any legal huddles for setting up such a website?

Let me get this straight, you want to use the internet to garner money from one group to give to another for some reason and you wonder if there are legal hurdles?

You TEACH at a university?

At the very least you would have to register as a money service business. You may need to have different broker's licenses depending on if anything is given up for the money. (As in rights to the film or something.)

Go to Social Science Research Network (SSRN) Home Page and search for "crowdsourcing" or "crowdfunding" for more.

 

[Silverplum]

You TEACH at a university?

Nope.

S/He's a "professor in" a film school!!

 

[film123]

Hi I am sorry I was not clear enough.

But what I am doing here is a just creating a portal where my students would setup something similar to a blog and raise money. Raising money in independent short film scene, usually means donations or sometimes film students pledge small things like DVD's or Posters. Definitely not the rights or profit. And another important distinctions is that the money is donated by the public to the students paypal account directly. My website will not be in anyway involving with the donated money.And obviously I am not going to charge any money to the students too. SO you might ask what is the purpose? yes students can directly set up their own blogs and do it them selves but I felt if we club all the movies together it increases the visibility and also legitimacy of their effort.


I am sure I will have to go through all the normal procedures of setting up a business website. My question was will it be different from that for example will I have issues with securities law ?


and thank you for your responses

 

[Hot Topic]

With thousands of students wondering how they're going to get into the college of their choice and/or the students wondering how they're going to stay, your idea sounds more than a little daffy.

Taxpayers have enough people after them to support this or support that as it is. You want to support independent films, go to the film department and give them a check.

Shouldn't it be the students website rather than "yours?"

 

[HomeGuru]

The Professor on Gilligan's Island had better ideas.

 

[tranquility]

I don't see anything wrong with trying to create a system where his students will be successful in their studies. However, I don't think the idea was completely thought out enough to start thinking about legal issues. There needs to be a real business plan with the actual mechanics of what is envisioned before much issue spotting can go on.

 

[Hot Topic]

I don't see anything wrong with trying to create a system where his students will be successful in their studies. However, I don't think the idea was completely thought out enough to start thinking about legal issues. There needs to be a real business plan with the actual mechanics of what is envisioned before much issue spotting can go on.

The idea is to get money from friends and other students to finance films. If John wants to give Jack money so he can be the next Spielberg, then John can give the money to Jack directly. There's no need for yet another website seeking money.

 

[LikestoHelp]

film123, did you already get an answer to your question or do you still need help?