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Don't you get your money back if a presale fails to deliver? Crowdfunding is a donation that might yield a reward if it succeeds.
by smegel 9y ago
Don't you get your money back if a presale fails to deliver? Crowdfunding is a donation that might yield a reward if it succeeds.
- kobeya 9y agoNot necessarily, no. It’s just that a big company won’t take the publicity hit that would come from reneging on the pinky promise that they’d refund the deposit. Even where it is contractually provided for, the contract could be forceably renegotiated in bankruptcy.
- smegel 9y agoI don't imagine "going out of business" is a preferred outcome for a billion dollar business to avoid refunding presales for a failed product. But your right, unsecured creditors are screwed in a bankruptcy.