By now everyone knows what a crowdfunding company is, companies like Kickstarter, Indiegogo, Kiva.org, etc. try to help startups get the funding they need to carry on their projects based on what people donate. Apparently we all know the advantages of it, but what are the disadvantages?
Firstly, we should look at the way the crowdfunding process begins. Someone with an idea creates a project for which he/she needs the money. The project must be well thought and also well explained on the public webpage. So imagine, if you have a new album you want to record it is enough to prove that you are somehow an artist willing to make new music based on the experience you have and the means you can pay for. But what if your project is something unknown, something new and innovative? It could be some type of process, mechanism or new way of doing something. What is the problem with this then?
There have been some issues with the amount of information provided on these platforms because when creators upload their project information their intellectual property is not covered by any of these platforms and the same ones require those creators to upload as much information as available to be able to inform their “supporters” about the scope this project can reach. Eventually, some of those creators end up cancelling their campaign since they cannot trust the platforms to ensure their new project’s safety against plagiarism because their web sites are open to the public.
What would be a good end to this issue? Maybe these crowdfunding platforms are not useful for everything and everyone with a new idea since it is impossible to register all the Intellectual Property uploaded to these platforms without knowing if finally the project will be developed or not.