One big thing that excited lots of entrepreneurs and investors about the JOBS Act was the prospect of investor crowdfunding--the idea that small businesses could go online, make their pitches, and receive direct investment from accredited investors around the world, quickly.
So when the bill was signed into law in April, lawmakers drafted up a clause, "Title II," which would lift the ban on "general solicitation"--the legal hurdle that had prevented this sort of crowdfunding in the past. By lifting general solicitation, business owners could start using the Web to find new avenues of funding.
To read the original article: Start-ups to SEC: Move Faster on Crowdfunding | Inc.com
