On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups Act (the “JOBS Act”). Specifically of interest to independent filmmakers, the JOBS Act introduces reforms to certain widely-used private offering rules to remove the prohibition on general solicitation and creates a new exemption for “crowdfunding”.
Pryor Cashman Partners Stephen Goodman and Karen Robson, along with associate David Parsly, have authored an informative Legal Update in which they discuss the potential impact of these changes on the filmmaking community.
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