By Millyard Tech Law, PLLC; Originally posted at NHSBDC.org

Many proponents will tell you that crowdfunding is revolutionary because it democratizes access to capital.  What they mean is that by allowing ordinary people to contribute to projects and businesses that they care about, we have a greater number of people weighing in on what innovations are truly important for societal advancement, rather than a small group of private investors whose investment decisions in startups are driven mainly by return on investment. However, beyond this lofty societal good, there are some practical benefits to crowdfunding.