Acknowledgment and Acceptance of Terms
Collection of Information
When you interact with Localstake services, we may collect information about you and others you input information on, including:
- Information you provide when setting up an investor account and profile, such as, for example, email address, password, first and last name, biography, industry expertise, social links, other organizations you are affiliated with or invested in, and secret questions and answers.
- Information you provide when setting up a business account, such as, for example, business name, business summary, social links, business documents, financial information, bank account transactional data, and operations information.
- Information from your financial transactions with or through us, such as, for example, bank account details and routing number.
- Information we are required by law to collect from you to process securities-related transactions, to complete account opening documents, to perform due diligence, and to comply with tax laws and anti-money laundering law, such as, for example, social security number, date of birth, gender, country of citizenship, net worth, education, occupation, employment status, annual income, and investment objectives.
- Information about how and when you interact with Localstake, such as, for example, history on your investments, history on the capital your business has raised through Localstake, history on your site activity and information about your contacts with us.
- Information automatically from your computer while you browse our website, such as, for example, your Internet Protocol (IP) address, computer and connection information, browser type and version, operating system, Internet Service Provider (ISP), time stamps, banner ads you click, the URLs you come from and go to next, URLs you visit on the site, and a cookie identifier.
- Information about you, and/or the entity you represent, through other sources such as background-check agencies and other partners.
Use of Information
- Operate the Localstake site.
- Verify your identity and contact information.
- Provide you with information and services you request.
- Set up and open your account.
- Perform due diligence.
- Transact business.
- Customize your experience on the Localstake site.
- Communicate with you about your transactions, service updates and other administrative and/or account issues.
- Send you targeted marketing and promotional offers, based on your privacy preferences.
- Measure and improve our site and services.
- Resolve disputes, address complaints and troubleshoot technical problems.
- Analyze site and user behavior and prepare aggregated reports.
- Comply with applicable laws and regulations.
- Combine your information with information collected from other sources.
Sharing and Disclosure
To provide our products and services, we may disclose your information to the following parties:
i. Localstake offers the option to investors to share certain profile information with other businesses and investors on Localstake. You can share your profile with everyone on Localstake, only with specific members whom you designate, or no one at all. Localstake employees and contractors who have a need to know your profile and account information in order to service your account will always have access to your profile and account information. By accepting specific Localstake services, you may allow Localstake users to see your profile information.
ii. Investors gain access to investment offering materials, created from materials utilized by Localstake for due diligence, to perform their own review of investment opportunities. Each business controls which investors are able to access their offering materials, which include, but are not limited to, the information described in the “Collection of Information” section above. The business withholds the right to make some investment offering materials available by investor request only.
We may share your information with businesses raising capital on Localstake. They will use the information to approve you to see their offering materials, complete your transactions, to collect the information needed to approve or register you as an investor of the business, issue the security that you have purchased, complete administrative functions as to managing investors prior to and after raising capital, and update you on your investment.
We may share information with present or future affiliates, including our subsidiaries, joint ventures or other companies under common control, where it may be used to provide joint services or for such purposes as internal statistics, strategic decision-making, customer reviews, identifying customer trends, customer verification, fraud prevention and security. You may limit our affiliates from marketing their products or services to you based on personal information that we collect about you and share with them. This information may include your name, email address, mailing address, age, employment status, general account and demographic information and account history with us. Your choice to limit marketing offers from our affiliates will apply until you tell us to change your choice. You can opt back in at any time. To limit affiliate marketing offers, contact us by email at firstname.lastname@example.org or change your account preferences in “My Account”.
Service Providers and Partners.
i. We may share information with service providers who help with our business operations and internal functions, for example, verifying our users, processing accounts, order fulfillment, client service, client satisfaction surveys or other data collection activities relevant to our business, maintaining the Localstake site, and providing related services, such as electronic funds transfers and wires. Our service providers are required to protect personal information in a manner similar to the way we protect personal information and to use it only for the services they provide to us.
Legal and Other Disclosures.
We may disclose information when permitted by law or under the good-faith belief that such disclosure is necessary under applicable law; to comply with legal process served on Localstake; to protect the property or interests of Localstake, its agents and employees; or to protect personal safety or the public.
Sale or Acquisition of Assets.
As our business evolves, Localstake may sell, transfer or otherwise share some or all of its assets in connection with a merger, reorganization or sale of assets, or in the event of bankruptcy. In such an event, personal information may be one of the assets transferred.
Other than as set forth herein, we will not disclose your information unless we obtain your prior consent or are legally required to do so.
Retention of Information Used for Due Diligence
For businesses that use Localstake to raise capital, Localstake will retain records of material information documenting both the process and results of its due diligence investigation. Such records may include descriptions of the meetings that were conducted in the course of the investigation, including meetings with the issuer or other parties, the tasks performed, the documents and other information reviewed, the results of such reviews, the date such events occurred, and the individuals who attended the meetings or conducted the reviews. Any information provided by the business that is deemed immaterial for the purposes of demonstrating that Localstake has performed a reasonable investigation will be immediately destroyed following the end of the engagement between Localstake and the business using Localstake to raise capital. Information retained to meet these books and records requirements will only be shared for the purposes of meeting legal requirements as described in the “Sharing and Disclosure” section above.
We do not participate in bulk email solicitations that you have not consented to receiving (i.e. SPAM). At any time, you may opt out of receiving marketing emails from Localstake, but you may not opt out of administrative emails (for example, billing, electronic delivery of financial information, or emails about your transactions or our policy changes) while you are a registered Localstake user. In such cases, you may opt out by changing your email preferences in My Account or by following the opt-out instructions contained within the body of any email message you receive. If you send emails to a recipient through our site, they will receive your email address and any personal message you include. We use the email addresses you provide to send your requested communication and for no other purpose. If you believe that you have received an unsolicited email from us, please contact us using the contact information below.
Cookies and Web Beacons
Localstake, our service providers, and other members of our corporate family who provide us with joint services, may place anonymous cookies or web beacons on your computer when you visit the site. We use these cookies and web beacons to recognize returning users, provide relevant content, measure traffic and activity on the site, monitor and improve our services and protect against fraud. You can block cookies by changing the settings on your browser (consult your browser help menu to find out how), but doing so may prevent us from delivering certain services to you. Your browser must be set to accept cookies in order to access Localstake as a registered user.
Accessing, Reviewing and Changing Your Personal Information
We urge you to review your information regularly to ensure that it is correct and complete. As a registered user, you can review and change your personal information by accessing My Account. You may not be able to change some account information online. If you are unable to make your desired change in My Account, please contact Customer Service for assistance. Although we will require you to revalidate your personal information periodically, you should promptly update your personal information if it changes or becomes inaccurate.
You can request that we close your Localstake account by emailing Customer Service at email@example.com. After we close your account, we may retain some information to continue operating the Localstake site, comply with laws, prevent fraud, assist with investigations, resolve disputes, analyze or troubleshoot programs, enforce our User Agreement and take actions otherwise permitted by law. If your account or membership is terminated or suspended, we may retain some information to prevent re-registration.
Localstake takes commercially reasonable steps to protect your information from loss, misuse, and unauthorized access, disclosure, alteration, or destruction. We have implemented physical, electronic and procedural safeguards that are designed to protect the security of your information.
Unfortunately, no safeguards or processes can be guaranteed to be 100% secure. We cannot ensure or warrant the security of any information, and you provide information at your own risk. We will monitor the effectiveness of our security system and refine and upgrade our security technology as new tools become available.
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