April 11, 2012
Crowdfunding is an established process that has enjoyed a 10 year history and increased use and exposure over the past 4 years. Last year over $150 million was raised using the commitment for reward model.
I propose that the term "Crowdraising" be used by the SEC to refer to all comments, interpretations, and policies issued by the SEC on the new legislation. This will keep the clearly defined process of "Crowdfunding" free of mis-interpretation and confusion on the part of the general public, businesses, and the legal establishment.
References to the processes allowed under the new law as "Crowdraising" will help keep the confusion between the two models to a minimum, increasing legal compliance where it is required and eliminating uncessesary costs and headache where it is not required by law.