At the Digital Hollywood conference in Los Angeles last week, L.A. Tech & Media Law Firm founder David Sharifi predicted how the Jumpstart Our Business Startups (JOBS) Act will change fundraising for movies and tech startups.
You can read the complete JOBS Act at this PDF link. Sharifi outlined what still needs to be implemented with the bill and how the SEC could make it much easier for larger projects to raise funds. Sharifi explained:
[Hypothetically] I can’t offer you guys a thousand dollars per share and raise a million dollars right now. Unless you’re an accredited investor and I’ve registered with the SEC and I’ve done basically the amount of legal legwork needed to do an initial public offering. So it’s tremendous hurdle for today’s entrepreneurs or any startup. And that barrier is being relaxed a little bit through the JOBS Act.