Legal Aspects of Crowdfunding. In: Ius Comparatum - Global Studies in Comparative Law (Springer), by Kleiner C. (eds), Vol 55, pp. 93 - 126, Nov 2021

Regulation of Crowdfunding in Germany

There is no specific German legislation or regulation, as at the date of this study, which specifically address and regulate crowdfunding activities. One should nevertheless acknowledge the rapid growth of the crowdfunding market and observe the new forms of legal relationships resulting from fund raising campaigns conducted through the means of internet platforms. This study thus aims to highlight the main legal issues raised by the conduct of crowdfunding activities in Germany by confronting such activities with the legal framework currently in force in Germany.