Crowdberry’s services inspire maximum confidence and satisfaction for all its customers – investors and entrepreneurs alike. We are convinced that human society can grow and function in the long term by eliminating unethical behaviour and fostering social trust. For this reason, we strive for an ethical environment and take pride in our objective and transparent processes and services. At the same time, we are aware of certain potential conflicts of interest under those services.
This Code of Ethics aims to set expectations for Crowdberry partners and clients and the ethical standards of cooperation with Crowdberry. For definitions, see the Terms & Conditions of Using the Crowdberry Service.
A. Crowdberry Service
This section outlines Crowdberry’s obligations and selected Crowdberry Services.
- Platform and Types of Business plan
The Crowdberry Platform and Services are a private crowdfunding service through which persons may provide investments with the aim of developing a company. Crowdberry companies are either start-ups or companies in their early stages of business – especially in product development, business model and plan, and in finding potential markets for their products – or growing small and medium-sized businesses and real estate projects. To grow and develop, these companies and their projects usually need to raise capital, provide management, and seek advice and other help.
- Selection process
2.1. An investment commission is responsible for selecting companies and decides by a 2 / 3 majority vote whether to admit a company to the platform.
2.2. The selection process is based on the business, financial, market, organizational, legal, ethical, and other aspects of the company’s operations and history.
- Conflicts of Interest with Crowdberry
3.1. We understand that a potential conflict of interest exists, at least in the short term, when the commissions for our services come from the same company we are evaluating. However, our long-term goals pursue the success of offered companies, and they are therefore evaluated with the professional care required to ensure that the long-term interests of the investor are addressed.
3.2. We maintain a balanced representation between investor and company interests. If any Crowdberry employee or major supplier has a special relationship with a Company, it is under obligation to inform the partner about this relationship, who may then assesses whether the relationship compromises the objectivity of the service, or in justified cases, exclude that individual from acting for the company.
3.3. Crowdberry does not provide its services to companies where Crowdberry employees, representatives, or shareholders have more than 25% shareholding or voting rights.
3.4. If Crowdberry or its affiliates (shareholders, employees) decide to make future investments in companies Crowdberry provides theirnservices to, they may only do so in a small amount, transparently and non-discriminatorily, to have “their skin in the game”.
- Conflicts of Interest with Partners
Crowdberry’s goal is maximum satisfaction for both investors and entrepreneurs. For this reason, we strive to reduce potential conflicts of interest that might arise between entrepreneurs, partners, and investors. We carefully consider each possibility where a potential investor may be interested in investing into a company with an other than standard or predictable intent. In this case, we deal with the situation by consulting with the entrepreneur and the partners who may, in exceptional cases, reject the Investor.
- Transparency of fees
Our fees are transparent. In a successful campaign, i.e. at least 80% of the target investment is collected, Crowdberry charges 8 % of the value of the company’s realized investments (commission). All fees for related and mediated services, including legal fees and fees for notaries, are included in the commission unless agreed otherwise. Crowdberry does not accept fees or commissions from investors, nor any fees beyond the commission.
In the event of over-investment (obligations above 100% of the target investment), the “first come, first served” rule applies, i.e. the one who pledges the investment earlier has preferential rights and is under obligation to realize the investment.
- The company’s right to choose investors
A company is always entitled to choose its investors and whether it wants to negotiate an investment in the company. The company may prefer one large investor or several smaller or any other investor structure.
B. Crowdberry’s partners
Crowdberry is committed to the ethical standards in this Code and builds its business on a culture of transparency, non-discrimination, open communication, confidentiality, integrity, and professionalism. We expect our partners and clients to subscribe to this part of the Code of Ethics.
1.1. Crowdberry is not involved in corruption or bribery in either private or public sectors.
1.2. Crowdberry does not provide or accept facilitation payments.
1.3. Crowdberry’s employees and representatives may give or receive a gift in relation to their work at Crowdberry only if the gift:
1.3.1. is in compliance with the law;
1.3.2. is not carried out with the intention of influencing the opinion or action of the recipient;
1.3.3. is not carried out with the intention of gaining a specific business advantage;
1.3.4. is carried out openly on behalf of the company / entity, not on behalf of the individual;
1.3.5. is appropriate in view of the circumstances;
1.3.6. is of suitable type and value (i.e., not excessive value);
1.3.7. is not given to an especially influential person.
2.1. Crowdberry believes that open and fair competition leads to quality results.
2.2. Crowdberry does not participate in agreements designed to restrict competition.
- Intellectual Property Rights
Crowdberry fully respects the intellectual property rights of third parties.
- Crowdberry has implemented internal processes to identify and mitigate the risks associated with conflicts of interest, uncompetitive or corrupt behaviour.
- If you have reasonable suspicion that one of our employees or representatives is in conflict of interest, or you have a complaint or other important notice about this Code of Ethics, please contact us by email at firstname.lastname@example.org.