id	sid	tid	token	lemma	pos
cblr-1711	1	1	microsoft	microsoft	PROPN
cblr-1711	1	2	word	word	NOUN
cblr-1711	1	3	6_2018.3_wu_final.docx	6_2018.3_wu_final.docx	NUM
cblr-1711	1	4	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	1	5	biotech	biotech	NOUN
cblr-1711	1	6	crowdfunding	crowdfunding	NOUN
cblr-1711	1	7	:	:	PUNCT
cblr-1711	1	8	how	how	SCONJ
cblr-1711	1	9	the	the	DET
cblr-1711	1	10	jobs	job	NOUN
cblr-1711	1	11	act	act	VERB
cblr-1711	1	12	alone	alone	ADV
cblr-1711	1	13	can	can	AUX
cblr-1711	1	14	not	not	PART
cblr-1711	1	15	save	save	VERB
cblr-1711	1	16	investors	investor	NOUN
cblr-1711	1	17	erica	erica	PROPN
cblr-1711	1	18	wu	wu	PROPN
cblr-1711	1	19	*	*	PROPN
cblr-1711	1	20	equity	equity	NOUN
cblr-1711	1	21	crowdfunding	crowdfunding	NOUN
cblr-1711	1	22	,	,	PUNCT
cblr-1711	1	23	the	the	DET
cblr-1711	1	24	issuance	issuance	NOUN
cblr-1711	1	25	of	of	ADP
cblr-1711	1	26	securities	security	NOUN
cblr-1711	1	27	through	through	ADP
cblr-1711	1	28	online	online	ADJ
cblr-1711	1	29	platforms	platform	NOUN
cblr-1711	1	30	to	to	ADP
cblr-1711	1	31	an	an	DET
cblr-1711	1	32	unlimited	unlimited	ADJ
cblr-1711	1	33	number	number	NOUN
cblr-1711	1	34	of	of	ADP
cblr-1711	1	35	investors	investor	NOUN
cblr-1711	1	36	,	,	PUNCT
cblr-1711	1	37	became	become	VERB
cblr-1711	1	38	a	a	DET
cblr-1711	1	39	new	new	ADJ
cblr-1711	1	40	legal	legal	ADJ
cblr-1711	1	41	source	source	NOUN
cblr-1711	1	42	of	of	ADP
cblr-1711	1	43	capital	capital	NOUN
cblr-1711	1	44	for	for	ADP
cblr-1711	1	45	companies	company	NOUN
cblr-1711	1	46	beginning	begin	VERB
cblr-1711	1	47	in	in	ADP
cblr-1711	1	48	may	may	PROPN
cblr-1711	1	49	2016	2016	NUM
cblr-1711	1	50	.	.	PUNCT
cblr-1711	2	1	crowdfunding	crowdfunding	NOUN
cblr-1711	2	2	is	be	AUX
cblr-1711	2	3	one	one	NUM
cblr-1711	2	4	of	of	ADP
cblr-1711	2	5	several	several	ADJ
cblr-1711	2	6	methods	method	NOUN
cblr-1711	2	7	enacted	enact	VERB
cblr-1711	2	8	by	by	ADP
cblr-1711	2	9	the	the	DET
cblr-1711	2	10	jobs	job	NOUN
cblr-1711	2	11	act	act	VERB
cblr-1711	2	12	through	through	ADP
cblr-1711	2	13	which	which	PRON
cblr-1711	2	14	emerging	emerge	VERB
cblr-1711	2	15	companies	company	NOUN
cblr-1711	2	16	,	,	PUNCT
cblr-1711	2	17	or	or	CCONJ
cblr-1711	2	18	startups	startup	NOUN
cblr-1711	2	19	,	,	PUNCT
cblr-1711	2	20	can	can	AUX
cblr-1711	2	21	better	well	ADV
cblr-1711	2	22	access	access	VERB
cblr-1711	2	23	public	public	ADJ
cblr-1711	2	24	capital	capital	NOUN
cblr-1711	2	25	.	.	PUNCT
cblr-1711	3	1	however	however	ADV
cblr-1711	3	2	,	,	PUNCT
cblr-1711	3	3	crowdfunding	crowdfunding	NOUN
cblr-1711	3	4	presents	present	VERB
cblr-1711	3	5	new	new	ADJ
cblr-1711	3	6	risks	risk	NOUN
cblr-1711	3	7	to	to	ADP
cblr-1711	3	8	investors	investor	NOUN
cblr-1711	3	9	as	as	SCONJ
cblr-1711	3	10	many	many	ADJ
cblr-1711	3	11	of	of	ADP
cblr-1711	3	12	the	the	DET
cblr-1711	3	13	traditional	traditional	ADJ
cblr-1711	3	14	securities	security	NOUN
cblr-1711	3	15	law	law	NOUN
cblr-1711	3	16	safeguards	safeguard	NOUN
cblr-1711	3	17	that	that	PRON
cblr-1711	3	18	protect	protect	VERB
cblr-1711	3	19	investors	investor	NOUN
cblr-1711	3	20	are	be	AUX
cblr-1711	3	21	reduced	reduce	VERB
cblr-1711	3	22	or	or	CCONJ
cblr-1711	3	23	removed	remove	VERB
cblr-1711	3	24	.	.	PUNCT
cblr-1711	4	1	particularly	particularly	ADV
cblr-1711	4	2	in	in	ADP
cblr-1711	4	3	the	the	DET
cblr-1711	4	4	biotech	biotech	ADJ
cblr-1711	4	5	sector	sector	NOUN
cblr-1711	4	6	,	,	PUNCT
cblr-1711	4	7	crowdfunding	crowdfunde	VERB
cblr-1711	4	8	investors	investor	NOUN
cblr-1711	4	9	are	be	AUX
cblr-1711	4	10	subject	subject	ADJ
cblr-1711	4	11	to	to	ADP
cblr-1711	4	12	increased	increase	VERB
cblr-1711	4	13	information	information	NOUN
cblr-1711	4	14	asymmetry	asymmetry	NOUN
cblr-1711	4	15	,	,	PUNCT
cblr-1711	4	16	as	as	SCONJ
cblr-1711	4	17	ordinary	ordinary	ADJ
cblr-1711	4	18	individuals	individual	NOUN
cblr-1711	4	19	investing	invest	VERB
cblr-1711	4	20	in	in	ADP
cblr-1711	4	21	complex	complex	ADJ
cblr-1711	4	22	scientific	scientific	ADJ
cblr-1711	4	23	technologies	technology	NOUN
cblr-1711	4	24	may	may	AUX
cblr-1711	4	25	lack	lack	VERB
cblr-1711	4	26	not	not	PART
cblr-1711	4	27	only	only	ADV
cblr-1711	4	28	information	information	NOUN
cblr-1711	4	29	about	about	ADP
cblr-1711	4	30	the	the	DET
cblr-1711	4	31	company	company	NOUN
cblr-1711	4	32	and	and	CCONJ
cblr-1711	4	33	the	the	DET
cblr-1711	4	34	entrepreneur	entrepreneur	NOUN
cblr-1711	4	35	,	,	PUNCT
cblr-1711	4	36	but	but	CCONJ
cblr-1711	4	37	also	also	ADV
cblr-1711	4	38	the	the	DET
cblr-1711	4	39	scientific	scientific	ADJ
cblr-1711	4	40	background	background	NOUN
cblr-1711	4	41	necessary	necessary	ADJ
cblr-1711	4	42	to	to	PART
cblr-1711	4	43	fully	fully	ADV
cblr-1711	4	44	evaluate	evaluate	VERB
cblr-1711	4	45	the	the	DET
cblr-1711	4	46	technology	technology	NOUN
cblr-1711	4	47	itself	itself	PRON
cblr-1711	4	48	.	.	PUNCT
cblr-1711	5	1	this	this	DET
cblr-1711	5	2	note	note	NOUN
cblr-1711	5	3	analyzes	analyze	VERB
cblr-1711	5	4	the	the	DET
cblr-1711	5	5	impact	impact	NOUN
cblr-1711	5	6	of	of	ADP
cblr-1711	5	7	the	the	DET
cblr-1711	5	8	jobs	job	NOUN
cblr-1711	5	9	act	act	VERB
cblr-1711	5	10	on	on	ADP
cblr-1711	5	11	biotech	biotech	ADJ
cblr-1711	5	12	investing	investing	NOUN
cblr-1711	5	13	,	,	PUNCT
cblr-1711	5	14	focusing	focus	VERB
cblr-1711	5	15	on	on	ADP
cblr-1711	5	16	the	the	DET
cblr-1711	5	17	risks	risk	NOUN
cblr-1711	5	18	and	and	CCONJ
cblr-1711	5	19	protections	protection	NOUN
cblr-1711	5	20	available	available	ADJ
cblr-1711	5	21	to	to	ADP
cblr-1711	5	22	crowdfunding	crowdfunde	VERB
cblr-1711	5	23	investors	investor	NOUN
cblr-1711	5	24	,	,	PUNCT
cblr-1711	5	25	within	within	ADP
cblr-1711	5	26	as	as	ADV
cblr-1711	5	27	well	well	ADV
cblr-1711	5	28	as	as	ADP
cblr-1711	5	29	outside	outside	ADP
cblr-1711	5	30	the	the	DET
cblr-1711	5	31	bounds	bound	NOUN
cblr-1711	5	32	of	of	ADP
cblr-1711	5	33	the	the	DET
cblr-1711	5	34	securities	security	NOUN
cblr-1711	5	35	laws	law	NOUN
cblr-1711	5	36	.	.	PUNCT
cblr-1711	6	1	this	this	DET
cblr-1711	6	2	note	note	NOUN
cblr-1711	6	3	concludes	conclude	VERB
cblr-1711	6	4	with	with	ADP
cblr-1711	6	5	a	a	DET
cblr-1711	6	6	proposal	proposal	NOUN
cblr-1711	6	7	to	to	PART
cblr-1711	6	8	integrate	integrate	VERB
cblr-1711	6	9	protections	protection	NOUN
cblr-1711	6	10	from	from	ADP
cblr-1711	6	11	fda	fda	PROPN
cblr-1711	6	12	regulations	regulation	NOUN
cblr-1711	6	13	and	and	CCONJ
cblr-1711	6	14	patent	patent	NOUN
cblr-1711	6	15	law	law	NOUN
cblr-1711	6	16	into	into	ADP
cblr-1711	6	17	the	the	DET
cblr-1711	6	18	crowdfunding	crowdfunding	NOUN
cblr-1711	6	19	rules	rule	NOUN
cblr-1711	6	20	.	.	PUNCT
cblr-1711	7	1	i.	i.	PROPN
cblr-1711	7	2	introduction	introduction	NOUN
cblr-1711	7	3	..............................................................	..............................................................	PUNCT
cblr-1711	7	4	1061	1061	NUM
cblr-1711	7	5	ii	ii	PROPN
cblr-1711	7	6	.	.	PUNCT
cblr-1711	8	1	background	background	NOUN
cblr-1711	8	2	of	of	ADP
cblr-1711	8	3	the	the	DET
cblr-1711	8	4	jobs	job	NOUN
cblr-1711	8	5	act	act	NOUN
cblr-1711	8	6	...................................	...................................	PUNCT
cblr-1711	8	7	1066	1066	NUM
cblr-1711	8	8	a.	a.	NOUN
cblr-1711	8	9	purpose	purpose	NOUN
cblr-1711	8	10	of	of	ADP
cblr-1711	8	11	the	the	DET
cblr-1711	8	12	jobs	job	NOUN
cblr-1711	8	13	act	act	NOUN
cblr-1711	8	14	....................................	....................................	PUNCT
cblr-1711	8	15	1066	1066	NUM
cblr-1711	8	16	b.	b.	PROPN
cblr-1711	8	17	summary	summary	NOUN
cblr-1711	8	18	of	of	ADP
cblr-1711	8	19	jobs	job	NOUN
cblr-1711	8	20	act	act	VERB
cblr-1711	8	21	provisions	provision	NOUN
cblr-1711	8	22	.....................	.....................	PUNCT
cblr-1711	8	23	1068	1068	NUM
cblr-1711	8	24	c.	c.	NOUN
cblr-1711	8	25	impact	impact	NOUN
cblr-1711	8	26	of	of	ADP
cblr-1711	8	27	the	the	DET
cblr-1711	8	28	jobs	job	NOUN
cblr-1711	8	29	act	act	VERB
cblr-1711	8	30	on	on	ADP
cblr-1711	8	31	the	the	DET
cblr-1711	8	32	biotech	biotech	ADJ
cblr-1711	8	33	ipo	ipo	NOUN
cblr-1711	8	34	market	market	NOUN
cblr-1711	8	35	.................................................................	.................................................................	PUNCT
cblr-1711	9	1	1074	1074	NUM
cblr-1711	9	2	*	*	PUNCT
cblr-1711	9	3	j.d	j.d	PROPN
cblr-1711	9	4	.	.	PROPN
cblr-1711	9	5	candidate	candidate	NOUN
cblr-1711	9	6	2019	2019	NUM
cblr-1711	9	7	,	,	PUNCT
cblr-1711	9	8	columbia	columbia	PROPN
cblr-1711	9	9	law	law	PROPN
cblr-1711	9	10	school	school	NOUN
cblr-1711	9	11	;	;	PUNCT
cblr-1711	9	12	b.a	b.a	PROPN
cblr-1711	9	13	.	.	PROPN
cblr-1711	9	14	2013	2013	NUM
cblr-1711	9	15	,	,	PUNCT
cblr-1711	9	16	williams	williams	PROPN
cblr-1711	9	17	college	college	PROPN
cblr-1711	9	18	.	.	PUNCT
cblr-1711	10	1	many	many	ADJ
cblr-1711	10	2	thanks	thank	NOUN
cblr-1711	10	3	to	to	ADP
cblr-1711	10	4	professor	professor	PROPN
cblr-1711	10	5	ronald	ronald	PROPN
cblr-1711	10	6	mann	mann	PROPN
cblr-1711	10	7	for	for	ADP
cblr-1711	10	8	his	his	PRON
cblr-1711	10	9	valuable	valuable	ADJ
cblr-1711	10	10	insight	insight	NOUN
cblr-1711	10	11	and	and	CCONJ
cblr-1711	10	12	helpful	helpful	ADJ
cblr-1711	10	13	comments	comment	NOUN
cblr-1711	10	14	in	in	ADP
cblr-1711	10	15	writing	write	VERB
cblr-1711	10	16	this	this	DET
cblr-1711	10	17	note	note	NOUN
cblr-1711	10	18	.	.	PUNCT
cblr-1711	11	1	additional	additional	ADJ
cblr-1711	11	2	thanks	thank	NOUN
cblr-1711	11	3	to	to	ADP
cblr-1711	11	4	the	the	DET
cblr-1711	11	5	staff	staff	NOUN
cblr-1711	11	6	and	and	CCONJ
cblr-1711	11	7	editorial	editorial	ADJ
cblr-1711	11	8	board	board	NOUN
cblr-1711	11	9	of	of	ADP
cblr-1711	11	10	the	the	DET
cblr-1711	11	11	columbia	columbia	PROPN
cblr-1711	11	12	business	business	PROPN
cblr-1711	11	13	law	law	PROPN
cblr-1711	11	14	review	review	NOUN
cblr-1711	11	15	for	for	ADP
cblr-1711	11	16	their	their	PRON
cblr-1711	11	17	assistance	assistance	NOUN
cblr-1711	11	18	in	in	ADP
cblr-1711	11	19	preparing	prepare	VERB
cblr-1711	11	20	this	this	DET
cblr-1711	11	21	note	note	NOUN
cblr-1711	11	22	for	for	ADP
cblr-1711	11	23	publication	publication	NOUN
cblr-1711	11	24	.	.	PUNCT
cblr-1711	12	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	12	2	no	no	NOUN
cblr-1711	12	3	.	.	NOUN
cblr-1711	13	1	3:1060	3:1060	NUM
cblr-1711	13	2	]	]	X
cblr-1711	13	3	biotech	biotech	ADJ
cblr-1711	13	4	crowdfunding	crowdfunde	VERB
cblr-1711	13	5	1061	1061	NUM
cblr-1711	13	6	iii	iii	NOUN
cblr-1711	13	7	.	.	PUNCT
cblr-1711	14	1	crowdfunding	crowdfunde	VERB
cblr-1711	14	2	risk	risk	NOUN
cblr-1711	14	3	and	and	CCONJ
cblr-1711	14	4	protections	protection	NOUN
cblr-1711	14	5	.......................	.......................	PUNCT
cblr-1711	14	6	1077	1077	NUM
cblr-1711	14	7	a.	a.	NOUN
cblr-1711	14	8	challenges	challenge	NOUN
cblr-1711	14	9	for	for	ADP
cblr-1711	14	10	biotech	biotech	ADJ
cblr-1711	14	11	crowdfunding	crowdfunding	NOUN
cblr-1711	14	12	...............	...............	PUNCT
cblr-1711	15	1	1077	1077	NUM
cblr-1711	15	2	b.	b.	PROPN
cblr-1711	15	3	crowdfunding	crowdfunde	VERB
cblr-1711	15	4	investor	investor	NOUN
cblr-1711	15	5	limits	limit	NOUN
cblr-1711	15	6	...........................	...........................	PUNCT
cblr-1711	15	7	1083	1083	NUM
cblr-1711	15	8	c.	c.	NOUN
cblr-1711	15	9	liability	liability	NOUN
cblr-1711	15	10	of	of	ADP
cblr-1711	15	11	issuers	issuer	NOUN
cblr-1711	15	12	and	and	CCONJ
cblr-1711	15	13	intermediaries	intermediary	NOUN
cblr-1711	15	14	.............	.............	PUNCT
cblr-1711	15	15	1087	1087	NUM
cblr-1711	15	16	iv	iv	NUM
cblr-1711	15	17	.	.	PUNCT
cblr-1711	16	1	supplmentary	supplmentary	PROPN
cblr-1711	16	2	sources	source	NOUN
cblr-1711	16	3	of	of	ADP
cblr-1711	16	4	investor	investor	NOUN
cblr-1711	16	5	protection	protection	NOUN
cblr-1711	16	6	from	from	ADP
cblr-1711	16	7	patent	patent	NOUN
cblr-1711	16	8	and	and	CCONJ
cblr-1711	16	9	administrative	administrative	ADJ
cblr-1711	16	10	law	law	NOUN
cblr-1711	16	11	..............................	..............................	PUNCT
cblr-1711	16	12	1090	1090	NUM
cblr-1711	16	13	a.	a.	NOUN
cblr-1711	16	14	mandatory	mandatory	ADJ
cblr-1711	16	15	disclosure	disclosure	NOUN
cblr-1711	16	16	under	under	ADP
cblr-1711	16	17	title	title	NOUN
cblr-1711	16	18	iii	iii	PROPN
cblr-1711	16	19	..............	..............	SYM
cblr-1711	16	20	1090	1090	NUM
cblr-1711	16	21	b.	b.	NOUN
cblr-1711	16	22	disclosure	disclosure	NOUN
cblr-1711	16	23	requirements	requirement	NOUN
cblr-1711	16	24	relating	relate	VERB
cblr-1711	16	25	to	to	ADP
cblr-1711	16	26	fda	fda	PROPN
cblr-1711	16	27	approvals	approvals	PROPN
cblr-1711	16	28	............................................................	............................................................	PUNCT
cblr-1711	16	29	1093	1093	NUM
cblr-1711	16	30	c.	c.	PROPN
cblr-1711	16	31	patent	patent	NOUN
cblr-1711	16	32	disclosure	disclosure	NOUN
cblr-1711	16	33	in	in	ADP
cblr-1711	16	34	crowdfunding	crowdfunde	VERB
cblr-1711	16	35	..................	..................	PUNCT
cblr-1711	17	1	1100	1100	NUM
cblr-1711	17	2	v.	v.	ADP
cblr-1711	17	3	conclusion	conclusion	NOUN
cblr-1711	17	4	................................................................	................................................................	PUNCT
cblr-1711	17	5	1102	1102	NUM
cblr-1711	17	6	i.	i.	NOUN
cblr-1711	17	7	introduction	introduction	NOUN
cblr-1711	17	8	in	in	ADP
cblr-1711	17	9	2015	2015	NUM
cblr-1711	17	10	,	,	PUNCT
cblr-1711	17	11	elizabeth	elizabeth	PROPN
cblr-1711	17	12	holmes	holmes	PROPN
cblr-1711	17	13	topped	top	VERB
cblr-1711	17	14	the	the	DET
cblr-1711	17	15	forbes	forbes	PROPN
cblr-1711	17	16	list	list	NOUN
cblr-1711	17	17	of	of	ADP
cblr-1711	17	18	america	america	PROPN
cblr-1711	17	19	’s	’s	PART
cblr-1711	17	20	richest	rich	ADJ
cblr-1711	17	21	self	self	NOUN
cblr-1711	17	22	-	-	PUNCT
cblr-1711	17	23	made	make	VERB
cblr-1711	17	24	women	woman	NOUN
cblr-1711	17	25	with	with	ADP
cblr-1711	17	26	an	an	DET
cblr-1711	17	27	estimated	estimate	VERB
cblr-1711	17	28	net	net	ADJ
cblr-1711	17	29	worth	worth	NOUN
cblr-1711	17	30	of	of	ADP
cblr-1711	17	31	$	$	SYM
cblr-1711	17	32	4.5	4.5	NUM
cblr-1711	17	33	billion.1	billion.1	NOUN
cblr-1711	17	34	a	a	DET
cblr-1711	17	35	year	year	NOUN
cblr-1711	17	36	later	later	ADV
cblr-1711	17	37	,	,	PUNCT
cblr-1711	17	38	forbes	forbes	PROPN
cblr-1711	17	39	lowered	lower	VERB
cblr-1711	17	40	its	its	PRON
cblr-1711	17	41	estimate	estimate	NOUN
cblr-1711	17	42	of	of	ADP
cblr-1711	17	43	holmes	holme	NOUN
cblr-1711	17	44	’	'	PUNCT
cblr-1711	17	45	net	net	ADJ
cblr-1711	17	46	worth	worth	NOUN
cblr-1711	17	47	to	to	ADP
cblr-1711	17	48	nothing,2	nothing,2	NOUN
cblr-1711	17	49	and	and	CCONJ
cblr-1711	17	50	after	after	ADP
cblr-1711	17	51	another	another	DET
cblr-1711	17	52	year	year	NOUN
cblr-1711	17	53	,	,	PUNCT
cblr-1711	17	54	holmes	holmes	PROPN
cblr-1711	17	55	reportedly	reportedly	ADV
cblr-1711	17	56	owed	owe	VERB
cblr-1711	17	57	$	$	SYM
cblr-1711	17	58	25	25	NUM
cblr-1711	17	59	million	million	NUM
cblr-1711	17	60	to	to	ADP
cblr-1711	17	61	her	her	PRON
cblr-1711	17	62	company	company	NOUN
cblr-1711	17	63	theranos.3	theranos.3	VERB
cblr-1711	17	64	a	a	DET
cblr-1711	17	65	silicon	silicon	NOUN
cblr-1711	17	66	valley	valley	NOUN
cblr-1711	17	67	biotech	biotech	NOUN
cblr-1711	17	68	startup	startup	NOUN
cblr-1711	17	69	that	that	PRON
cblr-1711	17	70	holmes	holmes	PROPN
cblr-1711	17	71	founded	found	VERB
cblr-1711	17	72	at	at	ADP
cblr-1711	17	73	age	age	NOUN
cblr-1711	17	74	nineteen	nineteen	NUM
cblr-1711	17	75	,	,	PUNCT
cblr-1711	17	76	theranos	therano	NOUN
cblr-1711	17	77	was	be	AUX
cblr-1711	17	78	once	once	ADV
cblr-1711	17	79	valued	value	VERB
cblr-1711	17	80	at	at	ADP
cblr-1711	17	81	$	$	SYM
cblr-1711	17	82	9	9	NUM
cblr-1711	17	83	billion	billion	NUM
cblr-1711	17	84	and	and	CCONJ
cblr-1711	17	85	promised	promise	VERB
cblr-1711	17	86	to	to	PART
cblr-1711	17	87	revolutionize	revolutionize	VERB
cblr-1711	17	88	health	health	NOUN
cblr-1711	17	89	care.4	care.4	PROPN
cblr-1711	17	90	1	1	NUM
cblr-1711	17	91	see	see	VERB
cblr-1711	17	92	matthew	matthew	PROPN
cblr-1711	17	93	herper	herper	PROPN
cblr-1711	17	94	,	,	PUNCT
cblr-1711	17	95	from	from	ADP
cblr-1711	17	96	$	$	SYM
cblr-1711	17	97	4.5	4.5	NUM
cblr-1711	17	98	billion	billion	NUM
cblr-1711	17	99	to	to	ADP
cblr-1711	17	100	nothing	nothing	PRON
cblr-1711	17	101	:	:	PUNCT
cblr-1711	17	102	forbes	forbes	PROPN
cblr-1711	17	103	revises	revise	VERB
cblr-1711	17	104	estimated	estimate	VERB
cblr-1711	17	105	net	net	ADJ
cblr-1711	17	106	worth	worth	NOUN
cblr-1711	17	107	of	of	ADP
cblr-1711	17	108	theranos	theranos	PROPN
cblr-1711	17	109	founder	founder	NOUN
cblr-1711	17	110	elizabeth	elizabeth	PROPN
cblr-1711	17	111	holmes	holmes	PROPN
cblr-1711	17	112	,	,	PUNCT
cblr-1711	17	113	forbes	forbes	PROPN
cblr-1711	17	114	(	(	PUNCT
cblr-1711	17	115	june	june	PROPN
cblr-1711	17	116	21	21	NUM
cblr-1711	17	117	,	,	PUNCT
cblr-1711	17	118	2016	2016	NUM
cblr-1711	17	119	)	)	PUNCT
cblr-1711	17	120	,	,	PUNCT
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cblr-1711	18	1	[	[	X
cblr-1711	18	2	https://perma.cc/hp8q-uprh	https://perma.cc/hp8q-uprh	X
cblr-1711	18	3	]	]	X
cblr-1711	18	4	.	.	PUNCT
cblr-1711	18	5	2	2	NUM
cblr-1711	18	6	see	see	VERB
cblr-1711	18	7	i	i	PRON
cblr-1711	18	8	d.	d.	PROPN
cblr-1711	18	9	3	3	NUM
cblr-1711	18	10	see	see	VERB
cblr-1711	19	1	anita	anita	PROPN
cblr-1711	19	2	balakrishnan	balakrishnan	PROPN
cblr-1711	19	3	,	,	PUNCT
cblr-1711	19	4	founder	founder	PROPN
cblr-1711	19	5	elizabeth	elizabeth	PROPN
cblr-1711	19	6	holmes	holmes	PROPN
cblr-1711	19	7	reportedly	reportedly	ADV
cblr-1711	19	8	owes	owe	VERB
cblr-1711	19	9	theranos	therano	NOUN
cblr-1711	19	10	about	about	ADP
cblr-1711	19	11	$	$	SYM
cblr-1711	19	12	25	25	NUM
cblr-1711	19	13	million	million	NUM
cblr-1711	19	14	,	,	PUNCT
cblr-1711	19	15	cnbc	cnbc	PROPN
cblr-1711	19	16	(	(	PUNCT
cblr-1711	19	17	apr	apr	PROPN
cblr-1711	19	18	.	.	PROPN
cblr-1711	19	19	6	6	NUM
cblr-1711	19	20	,	,	PUNCT
cblr-1711	19	21	2017	2017	NUM
cblr-1711	19	22	,	,	PUNCT
cblr-1711	19	23	8:12	8:12	NUM
cblr-1711	19	24	am	am	NOUN
cblr-1711	19	25	)	)	PUNCT
cblr-1711	19	26	,	,	PUNCT
cblr-1711	19	27	https://www.cnbc.com/2017/04/05/founder-elizabeth-holmes-reportedlyowes-theranos-about-25-million.html	https://www.cnbc.com/2017/04/05/founder-elizabeth-holmes-reportedlyowes-theranos-about-25-million.html	VERB
cblr-1711	20	1	[	[	X
cblr-1711	20	2	https://perma.cc/5juw-l39s	https://perma.cc/5juw-l39s	X
cblr-1711	20	3	]	]	X
cblr-1711	20	4	.	.	PUNCT
cblr-1711	21	1	4	4	NUM
cblr-1711	21	2	see	see	VERB
cblr-1711	21	3	nick	nick	PROPN
cblr-1711	21	4	bilton	bilton	PROPN
cblr-1711	21	5	,	,	PUNCT
cblr-1711	21	6	exclusive	exclusive	ADJ
cblr-1711	21	7	:	:	PUNCT
cblr-1711	21	8	how	how	SCONJ
cblr-1711	21	9	elizabeth	elizabeth	PROPN
cblr-1711	21	10	holmes	holmes	PROPN
cblr-1711	21	11	’s	’s	PART
cblr-1711	21	12	house	house	PROPN
cblr-1711	21	13	of	of	ADP
cblr-1711	21	14	cards	card	NOUN
cblr-1711	21	15	came	came	AUX
cblr-1711	21	16	tumbling	tumble	VERB
cblr-1711	21	17	down	down	ADP
cblr-1711	21	18	,	,	PUNCT
cblr-1711	21	19	vanity	vanity	NOUN
cblr-1711	21	20	fair	fair	ADJ
cblr-1711	21	21	(	(	PUNCT
cblr-1711	21	22	oct	oct	PROPN
cblr-1711	21	23	.	.	PROPN
cblr-1711	21	24	2016	2016	NUM
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cblr-1711	21	26	,	,	PUNCT
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cblr-1711	21	28	[	[	X
cblr-1711	21	29	https://perma.cc/a8at-8nlm	https://perma.cc/a8at-8nlm	X
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cblr-1711	21	31	;	;	PUNCT
cblr-1711	21	32	see	see	VERB
cblr-1711	21	33	also	also	ADV
cblr-1711	21	34	nick	nick	PROPN
cblr-1711	21	35	stockton	stockton	PROPN
cblr-1711	21	36	,	,	PUNCT
cblr-1711	21	37	everything	everything	PRON
cblr-1711	21	38	you	you	PRON
cblr-1711	21	39	need	need	VERB
cblr-1711	21	40	to	to	PART
cblr-1711	21	41	know	know	VERB
cblr-1711	21	42	about	about	ADP
cblr-1711	21	43	the	the	DET
cblr-1711	21	44	theranos	theranos	PROPN
cblr-1711	21	45	saga	saga	NOUN
cblr-1711	21	46	so	so	ADV
cblr-1711	21	47	far	far	ADV
cblr-1711	21	48	,	,	PUNCT
cblr-1711	21	49	wired	wire	VERB
cblr-1711	21	50	(	(	PUNCT
cblr-1711	21	51	may	may	PROPN
cblr-1711	21	52	4	4	NUM
cblr-1711	21	53	,	,	PUNCT
cblr-1711	21	54	2016	2016	NUM
cblr-1711	21	55	,	,	PUNCT
cblr-1711	21	56	8:00	8:00	NUM
cblr-1711	21	57	am	am	NOUN
cblr-1711	21	58	)	)	PUNCT
cblr-1711	21	59	https://www.wired.com/2016/05/everything-need-knowtheranos-saga-far/	https://www.wired.com/2016/05/everything-need-knowtheranos-saga-far/	NOUN
cblr-1711	22	1	[	[	X
cblr-1711	22	2	https://perma.cc/2eb5-t72	https://perma.cc/2eb5-t72	NUM
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cblr-1711	22	4	]	]	PUNCT
cblr-1711	22	5	.	.	PUNCT
cblr-1711	23	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	23	2	1062	1062	NUM
cblr-1711	23	3	columbia	columbia	PROPN
cblr-1711	23	4	business	business	NOUN
cblr-1711	23	5	law	law	PROPN
cblr-1711	23	6	review	review	NOUN
cblr-1711	23	7	[	[	X
cblr-1711	23	8	vol	vol	NOUN
cblr-1711	23	9	.	.	PUNCT
cblr-1711	23	10	2018	2018	NUM
cblr-1711	23	11	accumulating	accumulate	VERB
cblr-1711	23	12	enormous	enormous	ADJ
cblr-1711	23	13	amounts	amount	NOUN
cblr-1711	23	14	of	of	ADP
cblr-1711	23	15	funding	funding	NOUN
cblr-1711	23	16	from	from	ADP
cblr-1711	23	17	private	private	ADJ
cblr-1711	23	18	investors	investor	NOUN
cblr-1711	23	19	,	,	PUNCT
cblr-1711	23	20	theranos	theranos	PROPN
cblr-1711	23	21	’s	’s	PART
cblr-1711	23	22	technology	technology	NOUN
cblr-1711	23	23	would	would	AUX
cblr-1711	23	24	supposedly	supposedly	ADV
cblr-1711	23	25	diagnose	diagnose	VERB
cblr-1711	23	26	dozens	dozen	NOUN
cblr-1711	23	27	of	of	ADP
cblr-1711	23	28	diseases	disease	NOUN
cblr-1711	23	29	with	with	ADP
cblr-1711	23	30	a	a	DET
cblr-1711	23	31	pinprick	pinprick	NOUN
cblr-1711	23	32	of	of	ADP
cblr-1711	23	33	blood.5	blood.5	PROPN
cblr-1711	23	34	however	however	ADV
cblr-1711	23	35	,	,	PUNCT
cblr-1711	23	36	in	in	ADP
cblr-1711	23	37	late	late	ADJ
cblr-1711	23	38	2015	2015	NUM
cblr-1711	23	39	,	,	PUNCT
cblr-1711	23	40	the	the	DET
cblr-1711	23	41	wall	wall	PROPN
cblr-1711	23	42	street	street	PROPN
cblr-1711	23	43	journal	journal	PROPN
cblr-1711	23	44	published	publish	VERB
cblr-1711	23	45	an	an	DET
cblr-1711	23	46	article	article	NOUN
cblr-1711	23	47	exposing	expose	VERB
cblr-1711	23	48	that	that	SCONJ
cblr-1711	23	49	the	the	DET
cblr-1711	23	50	device	device	NOUN
cblr-1711	23	51	produced	produce	VERB
cblr-1711	23	52	inaccurate	inaccurate	ADJ
cblr-1711	23	53	diagnoses	diagnosis	NOUN
cblr-1711	23	54	and	and	CCONJ
cblr-1711	23	55	that	that	SCONJ
cblr-1711	23	56	theranos	therano	NOUN
cblr-1711	23	57	relied	rely	VERB
cblr-1711	23	58	on	on	ADP
cblr-1711	23	59	another	another	DET
cblr-1711	23	60	company	company	NOUN
cblr-1711	23	61	’s	’s	PART
cblr-1711	23	62	traditional	traditional	ADJ
cblr-1711	23	63	machines	machine	NOUN
cblr-1711	23	64	to	to	PART
cblr-1711	23	65	run	run	VERB
cblr-1711	23	66	its	its	PRON
cblr-1711	23	67	tests.6	tests.6	NOUN
cblr-1711	23	68	a	a	DET
cblr-1711	23	69	series	series	NOUN
cblr-1711	23	70	of	of	ADP
cblr-1711	23	71	other	other	ADJ
cblr-1711	23	72	media	medium	NOUN
cblr-1711	23	73	outlets	outlet	NOUN
cblr-1711	23	74	reported	report	VERB
cblr-1711	23	75	more	more	ADJ
cblr-1711	23	76	issues	issue	NOUN
cblr-1711	23	77	with	with	ADP
cblr-1711	23	78	theranos	therano	NOUN
cblr-1711	23	79	’s	’s	PART
cblr-1711	23	80	science	science	NOUN
cblr-1711	23	81	and	and	CCONJ
cblr-1711	23	82	its	its	PRON
cblr-1711	23	83	business,7	business,7	NOUN
cblr-1711	23	84	eventually	eventually	ADV
cblr-1711	23	85	leading	lead	VERB
cblr-1711	23	86	to	to	ADP
cblr-1711	23	87	formal	formal	ADJ
cblr-1711	23	88	dissolution	dissolution	NOUN
cblr-1711	23	89	of	of	ADP
cblr-1711	23	90	the	the	DET
cblr-1711	23	91	company	company	NOUN
cblr-1711	23	92	and	and	CCONJ
cblr-1711	23	93	criminal	criminal	ADJ
cblr-1711	23	94	charges	charge	NOUN
cblr-1711	23	95	against	against	ADP
cblr-1711	23	96	holmes	holme	NOUN
cblr-1711	23	97	and	and	CCONJ
cblr-1711	23	98	other	other	ADJ
cblr-1711	23	99	executives.8	executives.8	PROPN
cblr-1711	23	100	all	all	ADV
cblr-1711	23	101	-	-	PUNCT
cblr-1711	23	102	in	in	ADP
cblr-1711	23	103	-	-	PUNCT
cblr-1711	23	104	all	all	PRON
cblr-1711	23	105	,	,	PUNCT
cblr-1711	23	106	major	major	ADJ
cblr-1711	23	107	investors	investor	NOUN
cblr-1711	23	108	in	in	ADP
cblr-1711	23	109	theranos	therano	NOUN
cblr-1711	23	110	lost	lose	VERB
cblr-1711	23	111	nearly	nearly	ADV
cblr-1711	23	112	$	$	SYM
cblr-1711	23	113	1	1	NUM
cblr-1711	23	114	billion.9	billion.9	NOUN
cblr-1711	23	115	the	the	DET
cblr-1711	23	116	rapid	rapid	ADJ
cblr-1711	23	117	and	and	CCONJ
cblr-1711	23	118	highly	highly	ADV
cblr-1711	23	119	publicized	publicize	VERB
cblr-1711	23	120	rise	rise	NOUN
cblr-1711	23	121	and	and	CCONJ
cblr-1711	23	122	fall	fall	NOUN
cblr-1711	23	123	of	of	ADP
cblr-1711	23	124	holmes	holme	NOUN
cblr-1711	23	125	and	and	CCONJ
cblr-1711	23	126	theranos	therano	NOUN
cblr-1711	23	127	suggested	suggest	VERB
cblr-1711	23	128	that	that	SCONJ
cblr-1711	23	129	biotech	biotech	NOUN
cblr-1711	23	130	investing	investing	NOUN
cblr-1711	23	131	could	could	AUX
cblr-1711	23	132	suffer	suffer	VERB
cblr-1711	23	133	,	,	PUNCT
cblr-1711	23	134	with	with	ADP
cblr-1711	23	135	startups	startup	NOUN
cblr-1711	23	136	facing	face	VERB
cblr-1711	23	137	more	more	ADJ
cblr-1711	23	138	skepticism	skepticism	NOUN
cblr-1711	23	139	or	or	CCONJ
cblr-1711	23	140	a	a	DET
cblr-1711	23	141	higher	high	ADJ
cblr-1711	23	142	burden	burden	NOUN
cblr-1711	23	143	of	of	ADP
cblr-1711	23	144	proof	proof	NOUN
cblr-1711	23	145	of	of	ADP
cblr-1711	23	146	potential	potential	ADJ
cblr-1711	23	147	success	success	NOUN
cblr-1711	23	148	at	at	ADP
cblr-1711	23	149	the	the	DET
cblr-1711	23	150	early	early	ADJ
cblr-1711	23	151	stages	stage	NOUN
cblr-1711	23	152	of	of	ADP
cblr-1711	23	153	financing	financing	NOUN
cblr-1711	23	154	.	.	PUNCT
cblr-1711	24	1	some	some	PRON
cblr-1711	24	2	emphasized	emphasize	VERB
cblr-1711	24	3	how	how	SCONJ
cblr-1711	24	4	theranos	therano	NOUN
cblr-1711	24	5	was	be	AUX
cblr-1711	24	6	the	the	DET
cblr-1711	24	7	exception	exception	NOUN
cblr-1711	24	8	rather	rather	ADV
cblr-1711	24	9	than	than	ADP
cblr-1711	24	10	the	the	DET
cblr-1711	24	11	rule	rule	NOUN
cblr-1711	24	12	,	,	PUNCT
cblr-1711	24	13	though	though	ADV
cblr-1711	24	14	,	,	PUNCT
cblr-1711	24	15	pointing	point	VERB
cblr-1711	24	16	out	out	ADP
cblr-1711	24	17	an	an	DET
cblr-1711	24	18	unusual	unusual	ADJ
cblr-1711	24	19	disparity	disparity	NOUN
cblr-1711	24	20	between	between	ADP
cblr-1711	24	21	the	the	DET
cblr-1711	24	22	level	level	NOUN
cblr-1711	24	23	of	of	ADP
cblr-1711	24	24	hype	hype	NOUN
cblr-1711	24	25	and	and	CCONJ
cblr-1711	24	26	the	the	DET
cblr-1711	24	27	paucity	paucity	NOUN
cblr-1711	24	28	of	of	ADP
cblr-1711	24	29	available	available	ADJ
cblr-1711	24	30	information	information	NOUN
cblr-1711	24	31	surrounding	surround	VERB
cblr-1711	24	32	the	the	DET
cblr-1711	24	33	technology	technology	NOUN
cblr-1711	24	34	,	,	PUNCT
cblr-1711	24	35	reduced	reduce	VERB
cblr-1711	24	36	regulation	regulation	NOUN
cblr-1711	24	37	of	of	ADP
cblr-1711	24	38	diagnostics	diagnostic	NOUN
cblr-1711	24	39	compared	compare	VERB
cblr-1711	24	40	to	to	ADP
cblr-1711	24	41	drugs	drug	NOUN
cblr-1711	24	42	,	,	PUNCT
cblr-1711	24	43	and	and	CCONJ
cblr-1711	24	44	funding	funding	NOUN
cblr-1711	24	45	sources	source	NOUN
cblr-1711	24	46	from	from	ADP
cblr-1711	24	47	venture	venture	NOUN
cblr-1711	24	48	capitalists	capitalist	NOUN
cblr-1711	24	49	less	less	ADV
cblr-1711	24	50	experienced	experienced	ADJ
cblr-1711	24	51	in	in	ADP
cblr-1711	24	52	life	life	NOUN
cblr-1711	24	53	sciences.10	sciences.10	VERB
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cblr-1711	24	55	,	,	PUNCT
cblr-1711	24	56	5	5	NUM
cblr-1711	24	57	see	see	VERB
cblr-1711	24	58	stockton	stockton	PROPN
cblr-1711	24	59	,	,	PUNCT
cblr-1711	24	60	supra	supra	PROPN
cblr-1711	24	61	note	note	NOUN
cblr-1711	24	62	4	4	NUM
cblr-1711	24	63	.	.	NOUN
cblr-1711	24	64	6	6	NUM
cblr-1711	25	1	i	i	NOUN
cblr-1711	25	2	d.	d.	PROPN
cblr-1711	25	3	7	7	NUM
cblr-1711	25	4	i	i	PROPN
cblr-1711	25	5	d.	d.	PROPN
cblr-1711	25	6	8	8	NUM
cblr-1711	25	7	see	see	VERB
cblr-1711	25	8	john	john	PROPN
cblr-1711	25	9	carreyrou	carreyrou	PROPN
cblr-1711	25	10	,	,	PUNCT
cblr-1711	25	11	blood	blood	NOUN
cblr-1711	25	12	-	-	PUNCT
cblr-1711	25	13	testing	testing	NOUN
cblr-1711	25	14	firm	firm	ADJ
cblr-1711	25	15	theranos	therano	NOUN
cblr-1711	25	16	to	to	PART
cblr-1711	25	17	dissolve	dissolve	VERB
cblr-1711	25	18	,	,	PUNCT
cblr-1711	25	19	wall	wall	PROPN
cblr-1711	25	20	st	st	PROPN
cblr-1711	25	21	.	.	PROPN
cblr-1711	25	22	j.	j.	PROPN
cblr-1711	25	23	(	(	PUNCT
cblr-1711	25	24	sept	sept	PROPN
cblr-1711	25	25	.	.	PROPN
cblr-1711	25	26	5	5	NUM
cblr-1711	25	27	,	,	PUNCT
cblr-1711	25	28	2018	2018	NUM
cblr-1711	25	29	,	,	PUNCT
cblr-1711	25	30	12:10	12:10	NUM
cblr-1711	25	31	am	am	NOUN
cblr-1711	25	32	)	)	PUNCT
cblr-1711	25	33	,	,	PUNCT
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cblr-1711	25	35	(	(	PUNCT
cblr-1711	25	36	on	on	ADP
cblr-1711	25	37	file	file	NOUN
cblr-1711	25	38	with	with	ADP
cblr-1711	25	39	the	the	DET
cblr-1711	25	40	columbia	columbia	PROPN
cblr-1711	25	41	business	business	PROPN
cblr-1711	25	42	law	law	PROPN
cblr-1711	25	43	review	review	PROPN
cblr-1711	25	44	)	)	PUNCT
cblr-1711	25	45	.	.	PUNCT
cblr-1711	26	1	9	9	NUM
cblr-1711	26	2	see	see	VERB
cblr-1711	26	3	i	i	PROPN
cblr-1711	26	4	d.	d.	PROPN
cblr-1711	26	5	10	10	NUM
cblr-1711	26	6	see	see	VERB
cblr-1711	26	7	,	,	PUNCT
cblr-1711	26	8	e.g.	e.g.	ADV
cblr-1711	26	9	,	,	PUNCT
cblr-1711	26	10	ben	ben	PROPN
cblr-1711	26	11	popken	popken	VERB
cblr-1711	26	12	,	,	PUNCT
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cblr-1711	26	14	$	$	SYM
cblr-1711	26	15	9	9	NUM
cblr-1711	26	16	billion	billion	NUM
cblr-1711	26	17	startup	startup	NOUN
cblr-1711	26	18	theranos	therano	NOUN
cblr-1711	26	19	blew	blow	VERB
cblr-1711	26	20	up	up	ADP
cblr-1711	26	21	and	and	CCONJ
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cblr-1711	26	23	off	off	ADP
cblr-1711	26	24	41	41	NUM
cblr-1711	26	25	%	%	NOUN
cblr-1711	26	26	,	,	PUNCT
cblr-1711	26	27	nbc	nbc	PROPN
cblr-1711	26	28	news	news	PROPN
cblr-1711	26	29	(	(	PUNCT
cblr-1711	26	30	jan	jan	PROPN
cblr-1711	26	31	.	.	PROPN
cblr-1711	26	32	6	6	NUM
cblr-1711	26	33	,	,	PUNCT
cblr-1711	26	34	2017	2017	NUM
cblr-1711	26	35	,	,	PUNCT
cblr-1711	26	36	2:37	2:37	NUM
cblr-1711	26	37	pm	pm	NOUN
cblr-1711	26	38	)	)	PUNCT
cblr-1711	26	39	,	,	PUNCT
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cblr-1711	27	1	[	[	X
cblr-1711	27	2	https://perma.cc/v2rl-pp7j	https://perma.cc/v2rl-pp7j	SYM
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cblr-1711	27	4	;	;	PUNCT
cblr-1711	27	5	lydia	lydia	PROPN
cblr-1711	27	6	ramsey	ramsey	PROPN
cblr-1711	27	7	,	,	PUNCT
cblr-1711	27	8	‘	'	PUNCT
cblr-1711	27	9	the	the	DET
cblr-1711	27	10	outlier	outlier	ADJ
cblr-1711	27	11	thing	thing	NOUN
cblr-1711	27	12	did	do	AUX
cblr-1711	27	13	n’t	not	PART
cblr-1711	27	14	work	work	VERB
cblr-1711	27	15	out	out	ADP
cblr-1711	27	16	’	'	PUNCT
cblr-1711	27	17	—	—	PUNCT
cblr-1711	27	18	biotech	biotech	ADJ
cblr-1711	27	19	ceos	ceo	NOUN
cblr-1711	27	20	reflect	reflect	VERB
cblr-1711	27	21	on	on	ADP
cblr-1711	27	22	theranos	therano	NOUN
cblr-1711	27	23	’	'	PUNCT
cblr-1711	27	24	impact	impact	NOUN
cblr-1711	27	25	on	on	ADP
cblr-1711	27	26	the	the	DET
cblr-1711	27	27	industry	industry	NOUN
cblr-1711	27	28	,	,	PUNCT
cblr-1711	27	29	bus	bus	NOUN
cblr-1711	27	30	.	.	PUNCT
cblr-1711	27	31	insider	insider	NOUN
cblr-1711	27	32	(	(	PUNCT
cblr-1711	27	33	jan	jan	PROPN
cblr-1711	27	34	.	.	PROPN
cblr-1711	27	35	30	30	NUM
cblr-1711	27	36	,	,	PUNCT
cblr-1711	27	37	2017	2017	NUM
cblr-1711	27	38	,	,	PUNCT
cblr-1711	27	39	1:55	1:55	NUM
cblr-1711	27	40	pm	pm	NOUN
cblr-1711	27	41	)	)	PUNCT
cblr-1711	27	42	,	,	PUNCT
cblr-1711	27	43	https://www.businessinsider.com/was-there-a-theranos-effect-in-biotech2017-1	https://www.businessinsider.com/was-there-a-theranos-effect-in-biotech2017-1	PROPN
cblr-1711	28	1	[	[	X
cblr-1711	28	2	https://perma.cc/6ylf-zyqm	https://perma.cc/6ylf-zyqm	X
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cblr-1711	28	4	;	;	PUNCT
cblr-1711	28	5	randall	randall	PROPN
cblr-1711	28	6	stross	stross	PROPN
cblr-1711	28	7	,	,	PUNCT
cblr-1711	28	8	do	do	AUX
cblr-1711	28	9	n’t	not	PART
cblr-1711	28	10	blame	blame	VERB
cblr-1711	28	11	silicon	silicon	NOUN
cblr-1711	28	12	valley	valley	NOUN
cblr-1711	28	13	for	for	ADP
cblr-1711	28	14	theranos	theranos	PROPN
cblr-1711	28	15	,	,	PUNCT
cblr-1711	28	16	n.y	n.y	PROPN
cblr-1711	28	17	.	.	PROPN
cblr-1711	28	18	times	times	PROPN
cblr-1711	28	19	(	(	PUNCT
cblr-1711	28	20	apr	apr	PROPN
cblr-1711	28	21	.	.	PROPN
cblr-1711	28	22	27	27	NUM
cblr-1711	28	23	,	,	PUNCT
cblr-1711	28	24	2016	2016	NUM
cblr-1711	28	25	)	)	PUNCT
cblr-1711	28	26	,	,	PUNCT
cblr-1711	28	27	https://www.nytimes.com/2016/04/27/opinion/dont-blame-silicon-valley-fortheranos.html	https://www.nytimes.com/2016/04/27/opinion/dont-blame-silicon-valley-fortheranos.html	VERB
cblr-1711	28	28	[	[	X
cblr-1711	28	29	https://perma.cc/h3pk-kmms	https://perma.cc/h3pk-kmms	X
cblr-1711	28	30	]	]	PUNCT
cblr-1711	28	31	(	(	PUNCT
cblr-1711	28	32	noting	note	VERB
cblr-1711	28	33	that	that	SCONJ
cblr-1711	28	34	life	life	NOUN
cblr-1711	28	35	science	science	NOUN
cblr-1711	28	36	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	28	37	no	no	NOUN
cblr-1711	28	38	.	.	PUNCT
cblr-1711	28	39	3:1060	3:1060	NUM
cblr-1711	28	40	]	]	X
cblr-1711	28	41	biotech	biotech	NOUN
cblr-1711	28	42	crowdfunding	crowdfunde	VERB
cblr-1711	28	43	1063	1063	NUM
cblr-1711	28	44	the	the	DET
cblr-1711	28	45	theranos	therano	NOUN
cblr-1711	28	46	scandal	scandal	NOUN
cblr-1711	28	47	is	be	AUX
cblr-1711	28	48	illustrative	illustrative	ADJ
cblr-1711	28	49	of	of	ADP
cblr-1711	28	50	the	the	DET
cblr-1711	28	51	challenges	challenge	NOUN
cblr-1711	28	52	that	that	PRON
cblr-1711	28	53	biotech	biotech	ADJ
cblr-1711	28	54	startups	startup	NOUN
cblr-1711	28	55	face	face	VERB
cblr-1711	28	56	in	in	ADP
cblr-1711	28	57	attaining	attain	VERB
cblr-1711	28	58	financing	financing	NOUN
cblr-1711	28	59	.	.	PUNCT
cblr-1711	29	1	in	in	ADP
cblr-1711	29	2	biotech	biotech	NOUN
cblr-1711	29	3	,	,	PUNCT
cblr-1711	29	4	compared	compare	VERB
cblr-1711	29	5	to	to	ADP
cblr-1711	29	6	other	other	ADJ
cblr-1711	29	7	industries	industry	NOUN
cblr-1711	29	8	,	,	PUNCT
cblr-1711	29	9	the	the	DET
cblr-1711	29	10	disparity	disparity	NOUN
cblr-1711	29	11	between	between	ADP
cblr-1711	29	12	the	the	DET
cblr-1711	29	13	sophistication	sophistication	NOUN
cblr-1711	29	14	of	of	ADP
cblr-1711	29	15	entrepreneurs	entrepreneur	NOUN
cblr-1711	29	16	and	and	CCONJ
cblr-1711	29	17	investors	investor	NOUN
cblr-1711	29	18	can	can	AUX
cblr-1711	29	19	be	be	AUX
cblr-1711	29	20	especially	especially	ADV
cblr-1711	29	21	pronounced	pronounce	VERB
cblr-1711	29	22	due	due	ADP
cblr-1711	29	23	to	to	ADP
cblr-1711	29	24	the	the	DET
cblr-1711	29	25	scientific	scientific	ADJ
cblr-1711	29	26	and	and	CCONJ
cblr-1711	29	27	technical	technical	ADJ
cblr-1711	29	28	background	background	NOUN
cblr-1711	29	29	required	require	VERB
cblr-1711	29	30	to	to	PART
cblr-1711	29	31	understand	understand	VERB
cblr-1711	29	32	and	and	CCONJ
cblr-1711	29	33	develop	develop	VERB
cblr-1711	29	34	a	a	DET
cblr-1711	29	35	biotech	biotech	ADJ
cblr-1711	29	36	product	product	NOUN
cblr-1711	29	37	.	.	PUNCT
cblr-1711	30	1	while	while	SCONJ
cblr-1711	30	2	traditional	traditional	ADJ
cblr-1711	30	3	life	life	NOUN
cblr-1711	30	4	science	science	NOUN
cblr-1711	30	5	venture	venture	NOUN
cblr-1711	30	6	capital	capital	NOUN
cblr-1711	30	7	firms	firm	NOUN
cblr-1711	30	8	hire	hire	VERB
cblr-1711	30	9	investors	investor	NOUN
cblr-1711	30	10	with	with	ADP
cblr-1711	30	11	m.d.s	m.d.s	ADJ
cblr-1711	30	12	and	and	CCONJ
cblr-1711	30	13	ph.d.s	ph.d.s	PROPN
cblr-1711	30	14	,	,	PUNCT
cblr-1711	30	15	investors	investor	NOUN
cblr-1711	30	16	without	without	ADP
cblr-1711	30	17	subject	subject	NOUN
cblr-1711	30	18	matter	matter	NOUN
cblr-1711	30	19	expertise	expertise	NOUN
cblr-1711	30	20	occasionally	occasionally	ADV
cblr-1711	30	21	give	give	VERB
cblr-1711	30	22	significant	significant	ADJ
cblr-1711	30	23	funding	funding	NOUN
cblr-1711	30	24	to	to	ADP
cblr-1711	30	25	biotech	biotech	ADJ
cblr-1711	30	26	startups	startup	NOUN
cblr-1711	30	27	that	that	PRON
cblr-1711	30	28	may	may	AUX
cblr-1711	30	29	not	not	PART
cblr-1711	30	30	actually	actually	ADV
cblr-1711	30	31	be	be	AUX
cblr-1711	30	32	supported	support	VERB
cblr-1711	30	33	by	by	ADP
cblr-1711	30	34	legitimate	legitimate	ADJ
cblr-1711	30	35	scientific	scientific	ADJ
cblr-1711	30	36	evidence.11	evidence.11	ADJ
cblr-1711	30	37	ordinary	ordinary	ADJ
cblr-1711	30	38	individuals	individual	NOUN
cblr-1711	30	39	now	now	ADV
cblr-1711	30	40	have	have	AUX
cblr-1711	30	41	the	the	DET
cblr-1711	30	42	opportunity	opportunity	NOUN
cblr-1711	30	43	to	to	PART
cblr-1711	30	44	inject	inject	VERB
cblr-1711	30	45	capital	capital	NOUN
cblr-1711	30	46	into	into	ADP
cblr-1711	30	47	new	new	ADJ
cblr-1711	30	48	biotech	biotech	ADJ
cblr-1711	30	49	companies	company	NOUN
cblr-1711	30	50	following	follow	VERB
cblr-1711	30	51	the	the	DET
cblr-1711	30	52	passage	passage	NOUN
cblr-1711	30	53	of	of	ADP
cblr-1711	30	54	the	the	DET
cblr-1711	30	55	jumpstart	jumpstart	NOUN
cblr-1711	30	56	our	our	PRON
cblr-1711	30	57	business	business	NOUN
cblr-1711	30	58	startups	startup	NOUN
cblr-1711	30	59	act	act	NOUN
cblr-1711	30	60	(	(	PUNCT
cblr-1711	30	61	the	the	DET
cblr-1711	30	62	“	"	PUNCT
cblr-1711	30	63	jobs	job	NOUN
cblr-1711	30	64	act	act	NOUN
cblr-1711	30	65	”	"	PUNCT
cblr-1711	30	66	or	or	CCONJ
cblr-1711	30	67	the	the	DET
cblr-1711	30	68	“	"	PUNCT
cblr-1711	30	69	act	act	NOUN
cblr-1711	30	70	”	"	PUNCT
cblr-1711	30	71	)	)	PUNCT
cblr-1711	30	72	in	in	ADP
cblr-1711	30	73	april	april	PROPN
cblr-1711	30	74	2012.12	2012.12	NUM
cblr-1711	30	75	the	the	DET
cblr-1711	30	76	act	act	NOUN
cblr-1711	30	77	was	be	AUX
cblr-1711	30	78	designed	design	VERB
cblr-1711	30	79	to	to	PART
cblr-1711	30	80	stimulate	stimulate	VERB
cblr-1711	30	81	economic	economic	ADJ
cblr-1711	30	82	growth	growth	NOUN
cblr-1711	30	83	by	by	ADP
cblr-1711	30	84	improving	improve	VERB
cblr-1711	30	85	access	access	NOUN
cblr-1711	30	86	to	to	ADP
cblr-1711	30	87	capital	capital	NOUN
cblr-1711	30	88	for	for	ADP
cblr-1711	30	89	startups	startup	NOUN
cblr-1711	30	90	and	and	CCONJ
cblr-1711	30	91	small	small	ADJ
cblr-1711	30	92	companies	company	NOUN
cblr-1711	30	93	with	with	ADP
cblr-1711	30	94	total	total	ADJ
cblr-1711	30	95	annual	annual	ADJ
cblr-1711	30	96	gross	gross	ADJ
cblr-1711	30	97	revenues	revenue	NOUN
cblr-1711	30	98	of	of	ADP
cblr-1711	30	99	less	less	ADJ
cblr-1711	30	100	than	than	ADP
cblr-1711	30	101	$	$	SYM
cblr-1711	30	102	1	1	NUM
cblr-1711	30	103	billion	billion	NUM
cblr-1711	30	104	,	,	PUNCT
cblr-1711	30	105	which	which	PRON
cblr-1711	30	106	are	be	AUX
cblr-1711	30	107	referred	refer	VERB
cblr-1711	30	108	to	to	ADP
cblr-1711	30	109	in	in	ADP
cblr-1711	30	110	the	the	DET
cblr-1711	30	111	act	act	NOUN
cblr-1711	30	112	as	as	ADP
cblr-1711	30	113	“	"	PUNCT
cblr-1711	30	114	emerging	emerge	VERB
cblr-1711	30	115	growth	growth	NOUN
cblr-1711	30	116	companies	company	NOUN
cblr-1711	30	117	”	"	PUNCT
cblr-1711	30	118	(	(	PUNCT
cblr-1711	30	119	“	"	PUNCT
cblr-1711	30	120	egcs”).13	egcs”).13	X
cblr-1711	30	121	part	part	NOUN
cblr-1711	30	122	of	of	ADP
cblr-1711	30	123	the	the	DET
cblr-1711	30	124	capital	capital	NOUN
cblr-1711	30	125	tapped	tap	VERB
cblr-1711	30	126	into	into	ADP
cblr-1711	30	127	by	by	ADP
cblr-1711	30	128	biotech	biotech	ADJ
cblr-1711	30	129	startups	startup	NOUN
cblr-1711	30	130	following	follow	VERB
cblr-1711	30	131	the	the	DET
cblr-1711	30	132	passage	passage	NOUN
cblr-1711	30	133	of	of	ADP
cblr-1711	30	134	the	the	DET
cblr-1711	30	135	jobs	job	NOUN
cblr-1711	30	136	act	act	NOUN
cblr-1711	30	137	is	be	AUX
cblr-1711	30	138	from	from	ADP
cblr-1711	30	139	“	"	PUNCT
cblr-1711	30	140	unaccredited	unaccredited	ADJ
cblr-1711	30	141	investors”—ordinary	investors”—ordinary	ADJ
cblr-1711	30	142	individuals	individual	NOUN
cblr-1711	30	143	,	,	PUNCT
cblr-1711	30	144	as	as	SCONJ
cblr-1711	30	145	opposed	oppose	VERB
cblr-1711	30	146	to	to	ADP
cblr-1711	30	147	private	private	ADJ
cblr-1711	30	148	equity	equity	NOUN
cblr-1711	30	149	firms	firm	NOUN
cblr-1711	30	150	and	and	CCONJ
cblr-1711	30	151	venture	venture	NOUN
cblr-1711	30	152	capitalists	capitalist	NOUN
cblr-1711	30	153	—	—	PUNCT
cblr-1711	30	154	who	who	PRON
cblr-1711	30	155	can	can	AUX
cblr-1711	30	156	now	now	ADV
cblr-1711	30	157	invest	invest	VERB
cblr-1711	30	158	in	in	ADP
cblr-1711	30	159	startups	startup	NOUN
cblr-1711	30	160	with	with	ADP
cblr-1711	30	161	greater	great	ADJ
cblr-1711	30	162	ease	ease	NOUN
cblr-1711	30	163	and	and	CCONJ
cblr-1711	30	164	without	without	ADP
cblr-1711	30	165	the	the	DET
cblr-1711	30	166	traditional	traditional	ADJ
cblr-1711	30	167	securities	security	NOUN
cblr-1711	30	168	law	law	NOUN
cblr-1711	30	169	safeguards.14	safeguards.14	NOUN
cblr-1711	30	170	specifically	specifically	ADV
cblr-1711	30	171	,	,	PUNCT
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cblr-1711	30	173	iii	iii	NUM
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cblr-1711	30	176	jobs	job	NOUN
cblr-1711	30	177	act	act	NOUN
cblr-1711	30	178	(	(	PUNCT
cblr-1711	30	179	the	the	DET
cblr-1711	30	180	“	"	PUNCT
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cblr-1711	30	182	provision	provision	NOUN
cblr-1711	30	183	”	"	PUNCT
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cblr-1711	30	185	“	"	PUNCT
cblr-1711	30	186	title	title	NOUN
cblr-1711	30	187	iii	iii	NOUN
cblr-1711	30	188	”	"	PUNCT
cblr-1711	30	189	)	)	PUNCT
cblr-1711	30	190	legalized	legalize	VERB
cblr-1711	30	191	the	the	DET
cblr-1711	30	192	“	"	PUNCT
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cblr-1711	30	194	sale	sale	NOUN
cblr-1711	30	195	of	of	ADP
cblr-1711	30	196	securities	security	NOUN
cblr-1711	30	197	to	to	ADP
cblr-1711	30	198	an	an	DET
cblr-1711	30	199	unlimited	unlimited	ADJ
cblr-1711	30	200	number	number	NOUN
cblr-1711	30	201	venture	venture	NOUN
cblr-1711	30	202	capital	capital	NOUN
cblr-1711	30	203	firms	firm	NOUN
cblr-1711	30	204	refused	refuse	VERB
cblr-1711	30	205	to	to	PART
cblr-1711	30	206	invest	invest	VERB
cblr-1711	30	207	in	in	ADP
cblr-1711	30	208	theranos	therano	NOUN
cblr-1711	30	209	;	;	PUNCT
cblr-1711	31	1	those	those	PRON
cblr-1711	31	2	who	who	PRON
cblr-1711	31	3	invested	invest	VERB
cblr-1711	31	4	in	in	ADP
cblr-1711	31	5	theranos	therano	NOUN
cblr-1711	31	6	were	be	AUX
cblr-1711	31	7	not	not	PART
cblr-1711	31	8	individuals	individual	NOUN
cblr-1711	31	9	with	with	ADP
cblr-1711	31	10	expertise	expertise	NOUN
cblr-1711	31	11	in	in	ADP
cblr-1711	31	12	the	the	DET
cblr-1711	31	13	medical	medical	ADJ
cblr-1711	31	14	and	and	CCONJ
cblr-1711	31	15	science	science	NOUN
cblr-1711	31	16	fields	field	NOUN
cblr-1711	31	17	)	)	PUNCT
cblr-1711	31	18	.	.	PUNCT
cblr-1711	32	1	11	11	NUM
cblr-1711	32	2	see	see	VERB
cblr-1711	32	3	stross	stross	NOUN
cblr-1711	32	4	,	,	PUNCT
cblr-1711	32	5	supra	supra	PROPN
cblr-1711	32	6	note	note	NOUN
cblr-1711	32	7	10	10	NUM
cblr-1711	32	8	.	.	PUNCT
cblr-1711	32	9	12	12	NUM
cblr-1711	32	10	jumpstart	jumpstart	VERB
cblr-1711	32	11	our	our	PRON
cblr-1711	32	12	business	business	NOUN
cblr-1711	32	13	startups	startup	NOUN
cblr-1711	32	14	act	act	PROPN
cblr-1711	32	15	,	,	PUNCT
cblr-1711	32	16	pub	pub	NOUN
cblr-1711	32	17	.	.	PUNCT
cblr-1711	33	1	l.	l.	PROPN
cblr-1711	33	2	no	no	INTJ
cblr-1711	33	3	.	.	PROPN
cblr-1711	34	1	112	112	NUM
cblr-1711	34	2	-	-	SYM
cblr-1711	34	3	106	106	NUM
cblr-1711	34	4	,	,	PUNCT
cblr-1711	34	5	126	126	NUM
cblr-1711	34	6	stat	stat	NOUN
cblr-1711	34	7	.	.	PUNCT
cblr-1711	35	1	306	306	NUM
cblr-1711	35	2	(	(	PUNCT
cblr-1711	35	3	2012	2012	NUM
cblr-1711	35	4	)	)	PUNCT
cblr-1711	35	5	(	(	PUNCT
cblr-1711	35	6	codified	codify	VERB
cblr-1711	35	7	as	as	SCONJ
cblr-1711	35	8	amended	amend	VERB
cblr-1711	35	9	in	in	ADP
cblr-1711	35	10	scattered	scatter	VERB
cblr-1711	35	11	sections	section	NOUN
cblr-1711	35	12	of	of	ADP
cblr-1711	35	13	15	15	NUM
cblr-1711	35	14	u.s.c	u.s.c	ADJ
cblr-1711	35	15	.	.	PUNCT
cblr-1711	35	16	)	)	PUNCT
cblr-1711	35	17	.	.	PUNCT
cblr-1711	36	1	13	13	NUM
cblr-1711	36	2	jesse	jesse	PROPN
cblr-1711	36	3	scott	scott	PROPN
cblr-1711	36	4	,	,	PUNCT
cblr-1711	36	5	note	note	VERB
cblr-1711	36	6	,	,	PUNCT
cblr-1711	36	7	the	the	DET
cblr-1711	36	8	jobs	job	NOUN
cblr-1711	36	9	act	act	NOUN
cblr-1711	36	10	:	:	PUNCT
cblr-1711	36	11	encouraging	encourage	VERB
cblr-1711	36	12	capital	capital	NOUN
cblr-1711	36	13	formation	formation	NOUN
cblr-1711	36	14	but	but	CCONJ
cblr-1711	36	15	not	not	PART
cblr-1711	36	16	ipos	ipos	NOUN
cblr-1711	36	17	,	,	PUNCT
cblr-1711	36	18	7	7	NUM
cblr-1711	36	19	j.	j.	PROPN
cblr-1711	36	20	bus	bus	PROPN
cblr-1711	36	21	.	.	PUNCT
cblr-1711	36	22	entrepreneurship	entrepreneurship	NOUN
cblr-1711	36	23	&	&	CCONJ
cblr-1711	36	24	l.	l.	PROPN
cblr-1711	36	25	367	367	NUM
cblr-1711	36	26	,	,	PUNCT
cblr-1711	36	27	374–75	374–75	PROPN
cblr-1711	36	28	(	(	PUNCT
cblr-1711	36	29	2014	2014	NUM
cblr-1711	36	30	)	)	PUNCT
cblr-1711	36	31	.	.	PUNCT
cblr-1711	37	1	14	14	NUM
cblr-1711	37	2	darian	darian	ADJ
cblr-1711	37	3	m.	m.	PROPN
cblr-1711	37	4	ibrahim	ibrahim	PROPN
cblr-1711	37	5	,	,	PUNCT
cblr-1711	37	6	equity	equity	NOUN
cblr-1711	37	7	crowdfunding	crowdfunding	NOUN
cblr-1711	37	8	:	:	PUNCT
cblr-1711	37	9	a	a	DET
cblr-1711	37	10	market	market	NOUN
cblr-1711	37	11	for	for	ADP
cblr-1711	37	12	lemons	lemon	NOUN
cblr-1711	37	13	?	?	PUNCT
cblr-1711	37	14	,	,	PUNCT
cblr-1711	37	15	100	100	NUM
cblr-1711	37	16	minn	minn	NOUN
cblr-1711	37	17	.	.	PUNCT
cblr-1711	38	1	l.	l.	PROPN
cblr-1711	38	2	rev	rev	PROPN
cblr-1711	38	3	.	.	PROPN
cblr-1711	39	1	561	561	NUM
cblr-1711	39	2	,	,	PUNCT
cblr-1711	39	3	570–71	570–71	NOUN
cblr-1711	39	4	(	(	PUNCT
cblr-1711	39	5	2015	2015	NUM
cblr-1711	39	6	)	)	PUNCT
cblr-1711	39	7	;	;	PUNCT
cblr-1711	39	8	see	see	VERB
cblr-1711	39	9	also	also	ADV
cblr-1711	39	10	brian	brian	PROPN
cblr-1711	39	11	farnkoff	farnkoff	PROPN
cblr-1711	39	12	,	,	PUNCT
cblr-1711	39	13	crowdfunding	crowdfunde	VERB
cblr-1711	39	14	for	for	ADP
cblr-1711	39	15	biotechs	biotech	NOUN
cblr-1711	39	16	:	:	PUNCT
cblr-1711	39	17	how	how	SCONJ
cblr-1711	39	18	the	the	DET
cblr-1711	39	19	sec	sec	PROPN
cblr-1711	39	20	’s	’s	PART
cblr-1711	39	21	proposed	propose	VERB
cblr-1711	39	22	rule	rule	NOUN
cblr-1711	39	23	may	may	AUX
cblr-1711	39	24	undermine	undermine	VERB
cblr-1711	39	25	capital	capital	NOUN
cblr-1711	39	26	formation	formation	NOUN
cblr-1711	39	27	for	for	ADP
cblr-1711	39	28	startups	startup	NOUN
cblr-1711	39	29	,	,	PUNCT
cblr-1711	39	30	30	30	NUM
cblr-1711	39	31	j.	j.	PROPN
cblr-1711	39	32	contemp	contemp	PROPN
cblr-1711	39	33	.	.	PUNCT
cblr-1711	40	1	health	health	PROPN
cblr-1711	40	2	l.	l.	PROPN
cblr-1711	40	3	&	&	CCONJ
cblr-1711	40	4	pol’y	pol’y	NOUN
cblr-1711	40	5	131	131	NUM
cblr-1711	40	6	,	,	PUNCT
cblr-1711	40	7	134–35	134–35	NUM
cblr-1711	40	8	(	(	PUNCT
cblr-1711	40	9	2013	2013	NUM
cblr-1711	40	10	)	)	PUNCT
cblr-1711	40	11	.	.	PUNCT
cblr-1711	41	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	41	2	1064	1064	NUM
cblr-1711	41	3	columbia	columbia	PROPN
cblr-1711	41	4	business	business	NOUN
cblr-1711	41	5	law	law	PROPN
cblr-1711	41	6	review	review	NOUN
cblr-1711	41	7	[	[	X
cblr-1711	41	8	vol	vol	NOUN
cblr-1711	41	9	.	.	NOUN
cblr-1711	41	10	2018	2018	NUM
cblr-1711	41	11	of	of	ADP
cblr-1711	41	12	investors	investor	NOUN
cblr-1711	41	13	(	(	PUNCT
cblr-1711	41	14	i.e.	i.e.	X
cblr-1711	41	15	[	[	X
cblr-1711	41	16	,	,	PUNCT
cblr-1711	41	17	]	]	X
cblr-1711	41	18	a	a	DET
cblr-1711	41	19	large	large	ADJ
cblr-1711	41	20	‘	'	PUNCT
cblr-1711	41	21	crowd	crowd	NOUN
cblr-1711	41	22	’	'	PUNCT
cblr-1711	41	23	)	)	PUNCT
cblr-1711	41	24	in	in	ADP
cblr-1711	41	25	small	small	ADJ
cblr-1711	41	26	amounts	amount	NOUN
cblr-1711	41	27	using	use	VERB
cblr-1711	41	28	the	the	DET
cblr-1711	41	29	power	power	NOUN
cblr-1711	41	30	of	of	ADP
cblr-1711	41	31	social	social	ADJ
cblr-1711	41	32	media	medium	NOUN
cblr-1711	41	33	.	.	PUNCT
cblr-1711	42	1	”15	”15	VERB
cblr-1711	42	2	the	the	DET
cblr-1711	42	3	crowdfunding	crowdfunding	NOUN
cblr-1711	42	4	provision	provision	NOUN
cblr-1711	42	5	permits	permit	VERB
cblr-1711	42	6	entrepreneurs	entrepreneur	NOUN
cblr-1711	42	7	to	to	PART
cblr-1711	42	8	offer	offer	VERB
cblr-1711	42	9	and	and	CCONJ
cblr-1711	42	10	sell	sell	VERB
cblr-1711	42	11	securities	security	NOUN
cblr-1711	42	12	without	without	ADP
cblr-1711	42	13	activating	activate	VERB
cblr-1711	42	14	the	the	DET
cblr-1711	42	15	registration	registration	NOUN
cblr-1711	42	16	requirements	requirement	NOUN
cblr-1711	42	17	of	of	ADP
cblr-1711	42	18	the	the	DET
cblr-1711	42	19	securities	security	NOUN
cblr-1711	42	20	act	act	NOUN
cblr-1711	42	21	of	of	ADP
cblr-1711	42	22	1933	1933	NUM
cblr-1711	42	23	(	(	PUNCT
cblr-1711	42	24	the	the	DET
cblr-1711	42	25	“	"	PUNCT
cblr-1711	42	26	securities	security	NOUN
cblr-1711	42	27	act”).16	act”).16	PROPN
cblr-1711	42	28	harnessing	harness	VERB
cblr-1711	42	29	the	the	DET
cblr-1711	42	30	power	power	NOUN
cblr-1711	42	31	of	of	ADP
cblr-1711	42	32	the	the	DET
cblr-1711	42	33	internet	internet	NOUN
cblr-1711	42	34	and	and	CCONJ
cblr-1711	42	35	social	social	ADJ
cblr-1711	42	36	media	medium	NOUN
cblr-1711	42	37	,	,	PUNCT
cblr-1711	42	38	title	title	NOUN
cblr-1711	42	39	iii	iii	NOUN
cblr-1711	42	40	is	be	AUX
cblr-1711	42	41	directed	direct	VERB
cblr-1711	42	42	at	at	ADP
cblr-1711	42	43	transforming	transform	VERB
cblr-1711	42	44	financing	financing	NOUN
cblr-1711	42	45	for	for	ADP
cblr-1711	42	46	companies	company	NOUN
cblr-1711	42	47	who	who	PRON
cblr-1711	42	48	otherwise	otherwise	ADV
cblr-1711	42	49	would	would	AUX
cblr-1711	42	50	face	face	VERB
cblr-1711	42	51	significant	significant	ADJ
cblr-1711	42	52	difficulty	difficulty	NOUN
cblr-1711	42	53	attracting	attract	VERB
cblr-1711	42	54	it.17	it.17	PROPN
cblr-1711	42	55	however	however	ADV
cblr-1711	42	56	,	,	PUNCT
cblr-1711	42	57	the	the	DET
cblr-1711	42	58	crowdfunding	crowdfunding	NOUN
cblr-1711	42	59	provision	provision	NOUN
cblr-1711	42	60	may	may	AUX
cblr-1711	42	61	allow	allow	VERB
cblr-1711	42	62	for	for	ADP
cblr-1711	42	63	bad	bad	ADJ
cblr-1711	42	64	actor	actor	NOUN
cblr-1711	42	65	companies	company	NOUN
cblr-1711	42	66	,	,	PUNCT
cblr-1711	42	67	similar	similar	ADJ
cblr-1711	42	68	to	to	ADP
cblr-1711	42	69	theranos	therano	NOUN
cblr-1711	42	70	,	,	PUNCT
cblr-1711	42	71	to	to	PART
cblr-1711	42	72	seek	seek	VERB
cblr-1711	42	73	substantial	substantial	ADJ
cblr-1711	42	74	amounts	amount	NOUN
cblr-1711	42	75	of	of	ADP
cblr-1711	42	76	funding	funding	NOUN
cblr-1711	42	77	from	from	ADP
cblr-1711	42	78	ordinary	ordinary	ADJ
cblr-1711	42	79	individuals	individual	NOUN
cblr-1711	42	80	investing	invest	VERB
cblr-1711	42	81	through	through	ADP
cblr-1711	42	82	crowdfunding	crowdfunding	NOUN
cblr-1711	42	83	.	.	PUNCT
cblr-1711	43	1	in	in	ADP
cblr-1711	43	2	the	the	DET
cblr-1711	43	3	biotech	biotech	ADJ
cblr-1711	43	4	sector	sector	NOUN
cblr-1711	43	5	,	,	PUNCT
cblr-1711	43	6	a	a	DET
cblr-1711	43	7	greater	great	ADJ
cblr-1711	43	8	disparity	disparity	NOUN
cblr-1711	43	9	in	in	ADP
cblr-1711	43	10	market	market	NOUN
cblr-1711	43	11	and	and	CCONJ
cblr-1711	43	12	product	product	NOUN
cblr-1711	43	13	knowledge	knowledge	NOUN
cblr-1711	43	14	between	between	ADP
cblr-1711	43	15	investors	investor	NOUN
cblr-1711	43	16	and	and	CCONJ
cblr-1711	43	17	companies	company	NOUN
cblr-1711	43	18	,	,	PUNCT
cblr-1711	43	19	as	as	SCONJ
cblr-1711	43	20	compared	compare	VERB
cblr-1711	43	21	to	to	ADP
cblr-1711	43	22	other	other	ADJ
cblr-1711	43	23	industries	industry	NOUN
cblr-1711	43	24	,	,	PUNCT
cblr-1711	43	25	may	may	AUX
cblr-1711	43	26	expose	expose	VERB
cblr-1711	43	27	individual	individual	ADJ
cblr-1711	43	28	investors	investor	NOUN
cblr-1711	43	29	to	to	PART
cblr-1711	43	30	enhanced	enhance	VERB
cblr-1711	43	31	risk	risk	NOUN
cblr-1711	43	32	of	of	ADP
cblr-1711	43	33	fraud	fraud	NOUN
cblr-1711	43	34	.	.	PUNCT
cblr-1711	44	1	this	this	DET
cblr-1711	44	2	note	note	NOUN
cblr-1711	44	3	analyzes	analyze	VERB
cblr-1711	44	4	the	the	DET
cblr-1711	44	5	various	various	ADJ
cblr-1711	44	6	legal	legal	ADJ
cblr-1711	44	7	protections	protection	NOUN
cblr-1711	44	8	available	available	ADJ
cblr-1711	44	9	to	to	ADP
cblr-1711	44	10	potential	potential	ADJ
cblr-1711	44	11	investors	investor	NOUN
cblr-1711	44	12	in	in	ADP
cblr-1711	44	13	“	"	PUNCT
cblr-1711	44	14	biotech	biotech	ADJ
cblr-1711	44	15	startups	startup	NOUN
cblr-1711	44	16	,	,	PUNCT
cblr-1711	44	17	”	"	PUNCT
cblr-1711	44	18	a	a	DET
cblr-1711	44	19	term	term	NOUN
cblr-1711	44	20	used	use	VERB
cblr-1711	44	21	here	here	ADV
cblr-1711	44	22	to	to	PART
cblr-1711	44	23	refer	refer	VERB
cblr-1711	44	24	to	to	ADP
cblr-1711	44	25	all	all	DET
cblr-1711	44	26	small	small	ADJ
cblr-1711	44	27	companies	company	NOUN
cblr-1711	44	28	focused	focus	VERB
cblr-1711	44	29	on	on	ADP
cblr-1711	44	30	creating	create	VERB
cblr-1711	44	31	medical	medical	ADJ
cblr-1711	44	32	drugs	drug	NOUN
cblr-1711	44	33	and	and	CCONJ
cblr-1711	44	34	devices.18	devices.18	PROPN
cblr-1711	44	35	traditionally	traditionally	ADV
cblr-1711	44	36	,	,	PUNCT
cblr-1711	44	37	the	the	DET
cblr-1711	44	38	term	term	NOUN
cblr-1711	44	39	“	"	PUNCT
cblr-1711	44	40	biotech	biotech	ADJ
cblr-1711	44	41	companies	company	NOUN
cblr-1711	44	42	”	"	PUNCT
cblr-1711	44	43	referred	refer	VERB
cblr-1711	44	44	to	to	ADP
cblr-1711	44	45	companies	company	NOUN
cblr-1711	44	46	focused	focus	VERB
cblr-1711	44	47	on	on	ADP
cblr-1711	44	48	creating	create	VERB
cblr-1711	44	49	medicinal	medicinal	ADJ
cblr-1711	44	50	drugs	drug	NOUN
cblr-1711	44	51	with	with	ADP
cblr-1711	44	52	a	a	DET
cblr-1711	44	53	biological	biological	ADJ
cblr-1711	44	54	(	(	PUNCT
cblr-1711	44	55	living	living	NOUN
cblr-1711	44	56	-	-	PUNCT
cblr-1711	44	57	organism	organism	NOUN
cblr-1711	44	58	)	)	PUNCT
cblr-1711	44	59	basis	basis	NOUN
cblr-1711	44	60	,	,	PUNCT
cblr-1711	44	61	as	as	SCONJ
cblr-1711	44	62	opposed	oppose	VERB
cblr-1711	44	63	to	to	ADP
cblr-1711	44	64	pharmaceutical	pharmaceutical	ADJ
cblr-1711	44	65	companies	company	NOUN
cblr-1711	44	66	,	,	PUNCT
cblr-1711	44	67	whose	whose	DET
cblr-1711	44	68	drug	drug	NOUN
cblr-1711	44	69	products	product	NOUN
cblr-1711	44	70	were	be	AUX
cblr-1711	44	71	small	small	ADJ
cblr-1711	44	72	molecules	molecule	NOUN
cblr-1711	44	73	with	with	ADP
cblr-1711	44	74	a	a	DET
cblr-1711	44	75	chemical	chemical	NOUN
cblr-1711	44	76	(	(	PUNCT
cblr-1711	44	77	synthetic	synthetic	ADJ
cblr-1711	44	78	)	)	PUNCT
cblr-1711	44	79	basis.19	basis.19	NOUN
cblr-1711	44	80	15	15	NUM
cblr-1711	44	81	farnkoff	farnkoff	NOUN
cblr-1711	44	82	,	,	PUNCT
cblr-1711	44	83	supra	supra	PROPN
cblr-1711	44	84	note	note	PROPN
cblr-1711	44	85	14	14	NUM
cblr-1711	44	86	,	,	PUNCT
cblr-1711	44	87	at	at	ADP
cblr-1711	44	88	134–35	134–35	NUM
cblr-1711	44	89	.	.	PUNCT
cblr-1711	45	1	16	16	NUM
cblr-1711	46	1	i	i	PRON
cblr-1711	46	2	d.	d.	PROPN
cblr-1711	46	3	17	17	NUM
cblr-1711	46	4	i	i	PRON
cblr-1711	46	5	d.	d.	PROPN
cblr-1711	46	6	at	at	ADP
cblr-1711	46	7	133–35	133–35	NUM
cblr-1711	46	8	;	;	PUNCT
cblr-1711	46	9	see	see	AUX
cblr-1711	46	10	also	also	ADV
cblr-1711	46	11	krystine	krystine	VERB
cblr-1711	46	12	therriault	therriault	NOUN
cblr-1711	46	13	,	,	PUNCT
cblr-1711	46	14	what	what	PRON
cblr-1711	46	15	is	be	AUX
cblr-1711	46	16	equity	equity	NOUN
cblr-1711	46	17	crowdfunding	crowdfunding	NOUN
cblr-1711	46	18	?	?	PUNCT
cblr-1711	46	19	,	,	PUNCT
cblr-1711	46	20	crowd	crowd	NOUN
cblr-1711	46	21	crux	crux	NOUN
cblr-1711	46	22	,	,	PUNCT
cblr-1711	46	23	https://www.crowdcrux.com/what-is-equitycrowdfunding/	https://www.crowdcrux.com/what-is-equitycrowdfunding/	VERB
cblr-1711	47	1	[	[	X
cblr-1711	47	2	https://perma.cc/2rvc-4vmf	https://perma.cc/2rvc-4vmf	NOUN
cblr-1711	47	3	]	]	X
cblr-1711	47	4	.	.	PUNCT
cblr-1711	48	1	18	18	NUM
cblr-1711	48	2	though	though	SCONJ
cblr-1711	48	3	theranos	therano	NOUN
cblr-1711	48	4	is	be	AUX
cblr-1711	48	5	discussed	discuss	VERB
cblr-1711	48	6	throughout	throughout	ADP
cblr-1711	48	7	this	this	DET
cblr-1711	48	8	note	note	NOUN
cblr-1711	48	9	,	,	PUNCT
cblr-1711	48	10	its	its	PRON
cblr-1711	48	11	product	product	NOUN
cblr-1711	48	12	falls	fall	VERB
cblr-1711	48	13	under	under	ADP
cblr-1711	48	14	the	the	DET
cblr-1711	48	15	category	category	NOUN
cblr-1711	48	16	of	of	ADP
cblr-1711	48	17	a	a	DET
cblr-1711	48	18	diagnostic	diagnostic	ADJ
cblr-1711	48	19	,	,	PUNCT
cblr-1711	48	20	instead	instead	ADV
cblr-1711	48	21	of	of	ADP
cblr-1711	48	22	a	a	DET
cblr-1711	48	23	medical	medical	ADJ
cblr-1711	48	24	drug	drug	NOUN
cblr-1711	48	25	or	or	CCONJ
cblr-1711	48	26	device	device	NOUN
cblr-1711	48	27	referenced	reference	VERB
cblr-1711	48	28	here	here	ADV
cblr-1711	48	29	by	by	ADP
cblr-1711	48	30	the	the	DET
cblr-1711	48	31	term	term	NOUN
cblr-1711	48	32	“	"	PUNCT
cblr-1711	48	33	biotech	biotech	NOUN
cblr-1711	48	34	.	.	PUNCT
cblr-1711	48	35	”	"	PUNCT
cblr-1711	49	1	while	while	SCONJ
cblr-1711	49	2	the	the	DET
cblr-1711	49	3	regulatory	regulatory	ADJ
cblr-1711	49	4	framework	framework	NOUN
cblr-1711	49	5	governing	govern	VERB
cblr-1711	49	6	theranos	therano	NOUN
cblr-1711	49	7	as	as	ADP
cblr-1711	49	8	a	a	DET
cblr-1711	49	9	diagnostics	diagnostic	NOUN
cblr-1711	49	10	company	company	NOUN
cblr-1711	49	11	differs	differ	VERB
cblr-1711	49	12	from	from	ADP
cblr-1711	49	13	that	that	PRON
cblr-1711	49	14	which	which	PRON
cblr-1711	49	15	governs	govern	VERB
cblr-1711	49	16	biotech	biotech	ADJ
cblr-1711	49	17	startups	startup	NOUN
cblr-1711	49	18	,	,	PUNCT
cblr-1711	49	19	see	see	VERB
cblr-1711	49	20	infra	infra	NOUN
cblr-1711	49	21	note	note	VERB
cblr-1711	49	22	176	176	NUM
cblr-1711	49	23	,	,	PUNCT
cblr-1711	49	24	as	as	ADP
cblr-1711	49	25	a	a	DET
cblr-1711	49	26	small	small	ADJ
cblr-1711	49	27	company	company	NOUN
cblr-1711	49	28	with	with	ADP
cblr-1711	49	29	a	a	DET
cblr-1711	49	30	product	product	NOUN
cblr-1711	49	31	in	in	ADP
cblr-1711	49	32	the	the	DET
cblr-1711	49	33	medical	medical	ADJ
cblr-1711	49	34	field	field	NOUN
cblr-1711	49	35	,	,	PUNCT
cblr-1711	49	36	theranos	theranos	PROPN
cblr-1711	49	37	is	be	AUX
cblr-1711	49	38	a	a	DET
cblr-1711	49	39	relevant	relevant	ADJ
cblr-1711	49	40	example	example	NOUN
cblr-1711	49	41	showcasing	showcase	VERB
cblr-1711	49	42	financing	financing	NOUN
cblr-1711	49	43	issues	issue	NOUN
cblr-1711	49	44	concerning	concern	VERB
cblr-1711	49	45	biotech	biotech	ADJ
cblr-1711	49	46	startups	startup	NOUN
cblr-1711	49	47	and	and	CCONJ
cblr-1711	49	48	their	their	PRON
cblr-1711	49	49	investors	investor	NOUN
cblr-1711	49	50	.	.	PUNCT
cblr-1711	50	1	19	19	NUM
cblr-1711	50	2	see	see	VERB
cblr-1711	50	3	troy	troy	PROPN
cblr-1711	50	4	segal	segal	PROPN
cblr-1711	50	5	,	,	PUNCT
cblr-1711	50	6	biotech	biotech	NOUN
cblr-1711	50	7	vs	vs	ADP
cblr-1711	50	8	pharmaceutical	pharmaceutical	NOUN
cblr-1711	50	9	company	company	NOUN
cblr-1711	50	10	,	,	PUNCT
cblr-1711	50	11	investopedia	investopedia	PROPN
cblr-1711	50	12	(	(	PUNCT
cblr-1711	50	13	jan	jan	PROPN
cblr-1711	50	14	.	.	PROPN
cblr-1711	50	15	8	8	NUM
cblr-1711	50	16	,	,	PUNCT
cblr-1711	50	17	2018	2018	NUM
cblr-1711	50	18	,	,	PUNCT
cblr-1711	50	19	8:29	8:29	NUM
cblr-1711	50	20	pm	pm	NOUN
cblr-1711	50	21	)	)	PUNCT
cblr-1711	50	22	,	,	PUNCT
cblr-1711	50	23	https://www.investopedia.com/ask/answers/	https://www.investopedia.com/ask/answers/	NUM
cblr-1711	50	24	033115	033115	NUM
cblr-1711	50	25	/	/	SYM
cblr-1711	50	26	what	what	DET
cblr-1711	50	27	-	-	PUNCT
cblr-1711	50	28	difference	difference	NOUN
cblr-1711	50	29	-	-	PUNCT
cblr-1711	50	30	between	between	ADP
cblr-1711	50	31	-	-	PUNCT
cblr-1711	50	32	biotechnology	biotechnology	NOUN
cblr-1711	50	33	-	-	PUNCT
cblr-1711	50	34	company	company	NOUN
cblr-1711	50	35	-	-	PUNCT
cblr-1711	50	36	andpharmaceutical	andpharmaceutical	ADJ
cblr-1711	50	37	-	-	PUNCT
cblr-1711	50	38	company.asp	company.asp	NOUN
cblr-1711	50	39	[	[	X
cblr-1711	50	40	https://perma.cc/2beq-fkc3	https://perma.cc/2beq-fkc3	X
cblr-1711	50	41	]	]	PUNCT
cblr-1711	50	42	.	.	PUNCT
cblr-1711	51	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	51	2	no	no	NOUN
cblr-1711	51	3	.	.	NOUN
cblr-1711	52	1	3:1060	3:1060	NUM
cblr-1711	52	2	]	]	X
cblr-1711	52	3	biotech	biotech	ADJ
cblr-1711	52	4	crowdfunding	crowdfunding	NOUN
cblr-1711	52	5	1065	1065	NUM
cblr-1711	52	6	biotech	biotech	ADJ
cblr-1711	52	7	companies	company	NOUN
cblr-1711	52	8	were	be	AUX
cblr-1711	52	9	generally	generally	ADV
cblr-1711	52	10	more	more	ADV
cblr-1711	52	11	focused	focused	ADJ
cblr-1711	52	12	on	on	ADP
cblr-1711	52	13	research	research	NOUN
cblr-1711	52	14	and	and	CCONJ
cblr-1711	52	15	development	development	NOUN
cblr-1711	52	16	,	,	PUNCT
cblr-1711	52	17	while	while	SCONJ
cblr-1711	52	18	pharmaceutical	pharmaceutical	ADJ
cblr-1711	52	19	companies	company	NOUN
cblr-1711	52	20	centered	center	VERB
cblr-1711	52	21	on	on	ADP
cblr-1711	52	22	manufacturing	manufacturing	NOUN
cblr-1711	52	23	on	on	ADP
cblr-1711	52	24	a	a	DET
cblr-1711	52	25	larger	large	ADJ
cblr-1711	52	26	,	,	PUNCT
cblr-1711	52	27	commercial	commercial	ADJ
cblr-1711	52	28	scale.20	scale.20	NOUN
cblr-1711	52	29	as	as	ADP
cblr-1711	52	30	such	such	ADJ
cblr-1711	52	31	,	,	PUNCT
cblr-1711	52	32	biotech	biotech	ADJ
cblr-1711	52	33	companies	company	NOUN
cblr-1711	52	34	faced	face	VERB
cblr-1711	52	35	higher	high	ADJ
cblr-1711	52	36	costs	cost	NOUN
cblr-1711	52	37	and	and	CCONJ
cblr-1711	52	38	a	a	DET
cblr-1711	52	39	greater	great	ADJ
cblr-1711	52	40	time	time	NOUN
cblr-1711	52	41	investment	investment	NOUN
cblr-1711	52	42	to	to	PART
cblr-1711	52	43	develop	develop	VERB
cblr-1711	52	44	and	and	CCONJ
cblr-1711	52	45	test	test	VERB
cblr-1711	52	46	a	a	DET
cblr-1711	52	47	product.21	product.21	NOUN
cblr-1711	52	48	recently	recently	ADV
cblr-1711	52	49	,	,	PUNCT
cblr-1711	52	50	the	the	DET
cblr-1711	52	51	line	line	NOUN
cblr-1711	52	52	between	between	ADP
cblr-1711	52	53	the	the	DET
cblr-1711	52	54	two	two	NUM
cblr-1711	52	55	industries	industry	NOUN
cblr-1711	52	56	has	have	AUX
cblr-1711	52	57	become	become	VERB
cblr-1711	52	58	increasingly	increasingly	ADV
cblr-1711	52	59	blurred	blur	VERB
cblr-1711	52	60	,	,	PUNCT
cblr-1711	52	61	not	not	PART
cblr-1711	52	62	only	only	ADV
cblr-1711	52	63	in	in	ADP
cblr-1711	52	64	terms	term	NOUN
cblr-1711	52	65	of	of	ADP
cblr-1711	52	66	the	the	DET
cblr-1711	52	67	science	science	NOUN
cblr-1711	52	68	,	,	PUNCT
cblr-1711	52	69	but	but	CCONJ
cblr-1711	52	70	also	also	ADV
cblr-1711	52	71	in	in	ADP
cblr-1711	52	72	terms	term	NOUN
cblr-1711	52	73	of	of	ADP
cblr-1711	52	74	the	the	DET
cblr-1711	52	75	competitive	competitive	ADJ
cblr-1711	52	76	landscape.22	landscape.22	NOUN
cblr-1711	52	77	while	while	SCONJ
cblr-1711	52	78	big	big	ADJ
cblr-1711	52	79	biotech	biotech	NOUN
cblr-1711	52	80	has	have	AUX
cblr-1711	52	81	emerged	emerge	VERB
cblr-1711	52	82	,	,	PUNCT
cblr-1711	52	83	with	with	ADP
cblr-1711	52	84	similar	similar	ADJ
cblr-1711	52	85	traits	trait	NOUN
cblr-1711	52	86	to	to	ADP
cblr-1711	52	87	big	big	ADJ
cblr-1711	52	88	pharma	pharma	NOUN
cblr-1711	52	89	,	,	PUNCT
cblr-1711	52	90	this	this	DET
cblr-1711	52	91	note	note	NOUN
cblr-1711	52	92	focuses	focus	VERB
cblr-1711	52	93	on	on	ADP
cblr-1711	52	94	investment	investment	NOUN
cblr-1711	52	95	in	in	ADP
cblr-1711	52	96	smaller	small	ADJ
cblr-1711	52	97	startup	startup	NOUN
cblr-1711	52	98	companies	company	NOUN
cblr-1711	52	99	developing	develop	VERB
cblr-1711	52	100	all	all	DET
cblr-1711	52	101	types	type	NOUN
cblr-1711	52	102	of	of	ADP
cblr-1711	52	103	medical	medical	ADJ
cblr-1711	52	104	drugs	drug	NOUN
cblr-1711	52	105	and	and	CCONJ
cblr-1711	52	106	devices.23	devices.23	VERB
cblr-1711	52	107	previous	previous	ADJ
cblr-1711	52	108	literature	literature	NOUN
cblr-1711	52	109	has	have	AUX
cblr-1711	52	110	discussed	discuss	VERB
cblr-1711	52	111	the	the	DET
cblr-1711	52	112	potential	potential	NOUN
cblr-1711	52	113	for	for	ADP
cblr-1711	52	114	fraud	fraud	NOUN
cblr-1711	52	115	through	through	ADP
cblr-1711	52	116	crowdfunding	crowdfunding	NOUN
cblr-1711	52	117	but	but	CCONJ
cblr-1711	52	118	has	have	AUX
cblr-1711	52	119	specifically	specifically	ADV
cblr-1711	52	120	focused	focus	VERB
cblr-1711	52	121	on	on	ADP
cblr-1711	52	122	the	the	DET
cblr-1711	52	123	protections	protection	NOUN
cblr-1711	52	124	set	set	VERB
cblr-1711	52	125	out	out	ADP
cblr-1711	52	126	in	in	ADP
cblr-1711	52	127	title	title	NOUN
cblr-1711	52	128	iii.24	iii.24	NOUN
cblr-1711	52	129	this	this	DET
cblr-1711	52	130	note	note	NOUN
cblr-1711	52	131	argues	argue	VERB
cblr-1711	52	132	that	that	SCONJ
cblr-1711	52	133	other	other	ADJ
cblr-1711	52	134	areas	area	NOUN
cblr-1711	52	135	of	of	ADP
cblr-1711	52	136	the	the	DET
cblr-1711	52	137	law	law	NOUN
cblr-1711	52	138	provide	provide	VERB
cblr-1711	52	139	supplementary	supplementary	ADJ
cblr-1711	52	140	,	,	PUNCT
cblr-1711	52	141	though	though	SCONJ
cblr-1711	52	142	still	still	ADV
cblr-1711	52	143	insufficient	insufficient	ADJ
cblr-1711	52	144	,	,	PUNCT
cblr-1711	52	145	protection	protection	NOUN
cblr-1711	52	146	for	for	ADP
cblr-1711	52	147	ordinary	ordinary	ADJ
cblr-1711	52	148	individuals	individual	NOUN
cblr-1711	52	149	seeking	seek	VERB
cblr-1711	52	150	to	to	PART
cblr-1711	52	151	invest	invest	VERB
cblr-1711	52	152	in	in	ADP
cblr-1711	52	153	biotech	biotech	NOUN
cblr-1711	52	154	under	under	ADP
cblr-1711	52	155	the	the	DET
cblr-1711	52	156	crowdfunding	crowdfunding	NOUN
cblr-1711	52	157	provision	provision	NOUN
cblr-1711	52	158	.	.	PUNCT
cblr-1711	53	1	part	part	NOUN
cblr-1711	53	2	ii	ii	PROPN
cblr-1711	53	3	of	of	ADP
cblr-1711	53	4	this	this	DET
cblr-1711	53	5	note	note	NOUN
cblr-1711	53	6	provides	provide	VERB
cblr-1711	53	7	a	a	DET
cblr-1711	53	8	summary	summary	NOUN
cblr-1711	53	9	of	of	ADP
cblr-1711	53	10	the	the	DET
cblr-1711	53	11	history	history	NOUN
cblr-1711	53	12	and	and	CCONJ
cblr-1711	53	13	provisions	provision	NOUN
cblr-1711	53	14	of	of	ADP
cblr-1711	53	15	the	the	DET
cblr-1711	53	16	jobs	job	NOUN
cblr-1711	53	17	act	act	PROPN
cblr-1711	53	18	.	.	PUNCT
cblr-1711	54	1	part	part	NOUN
cblr-1711	54	2	iii	iii	PROPN
cblr-1711	54	3	describes	describe	VERB
cblr-1711	54	4	the	the	DET
cblr-1711	54	5	risks	risk	NOUN
cblr-1711	54	6	crowdfunding	crowdfunde	VERB
cblr-1711	54	7	poses	pose	NOUN
cblr-1711	54	8	in	in	ADP
cblr-1711	54	9	exposing	expose	VERB
cblr-1711	54	10	investors	investor	NOUN
cblr-1711	54	11	to	to	ADP
cblr-1711	54	12	bad	bad	ADJ
cblr-1711	54	13	actors	actor	NOUN
cblr-1711	54	14	,	,	PUNCT
cblr-1711	54	15	particularly	particularly	ADV
cblr-1711	54	16	in	in	ADP
cblr-1711	54	17	the	the	DET
cblr-1711	54	18	biotech	biotech	ADJ
cblr-1711	54	19	industry	industry	NOUN
cblr-1711	54	20	,	,	PUNCT
cblr-1711	54	21	and	and	CCONJ
cblr-1711	54	22	the	the	DET
cblr-1711	54	23	protection	protection	NOUN
cblr-1711	54	24	measures	measure	NOUN
cblr-1711	54	25	already	already	ADV
cblr-1711	54	26	available	available	ADJ
cblr-1711	54	27	under	under	ADP
cblr-1711	54	28	title	title	NOUN
cblr-1711	54	29	iii	iii	PROPN
cblr-1711	54	30	.	.	PUNCT
cblr-1711	54	31	part	part	NOUN
cblr-1711	54	32	iv	iv	NUM
cblr-1711	54	33	describes	describe	VERB
cblr-1711	54	34	how	how	SCONJ
cblr-1711	54	35	administrative	administrative	ADJ
cblr-1711	54	36	law	law	NOUN
cblr-1711	54	37	—	—	PUNCT
cblr-1711	54	38	through	through	SCONJ
cblr-1711	54	39	food	food	NOUN
cblr-1711	54	40	and	and	CCONJ
cblr-1711	54	41	drug	drug	PROPN
cblr-1711	54	42	administration	administration	NOUN
cblr-1711	54	43	(	(	PUNCT
cblr-1711	54	44	“	"	PUNCT
cblr-1711	54	45	fda	fda	PROPN
cblr-1711	54	46	”	"	PUNCT
cblr-1711	54	47	)	)	PUNCT
cblr-1711	54	48	regulations	regulation	NOUN
cblr-1711	54	49	and	and	CCONJ
cblr-1711	54	50	approvals	approval	NOUN
cblr-1711	54	51	—	—	PUNCT
cblr-1711	54	52	and	and	CCONJ
cblr-1711	54	53	patent	patent	NOUN
cblr-1711	54	54	law	law	NOUN
cblr-1711	54	55	serve	serve	VERB
cblr-1711	54	56	as	as	ADP
cblr-1711	54	57	additional	additional	ADJ
cblr-1711	54	58	backstops	backstop	NOUN
cblr-1711	54	59	to	to	ADP
cblr-1711	54	60	investor	investor	NOUN
cblr-1711	54	61	protection	protection	NOUN
cblr-1711	54	62	.	.	PUNCT
cblr-1711	55	1	part	part	NOUN
cblr-1711	55	2	iv	iv	NUM
cblr-1711	55	3	demonstrates	demonstrate	VERB
cblr-1711	55	4	that	that	SCONJ
cblr-1711	55	5	the	the	DET
cblr-1711	55	6	timing	timing	NOUN
cblr-1711	55	7	and	and	CCONJ
cblr-1711	55	8	public	public	ADJ
cblr-1711	55	9	availability	availability	NOUN
cblr-1711	55	10	of	of	ADP
cblr-1711	55	11	fda	fda	PROPN
cblr-1711	55	12	approval	approval	PROPN
cblr-1711	55	13	and	and	CCONJ
cblr-1711	55	14	patent	patent	NOUN
cblr-1711	55	15	information	information	NOUN
cblr-1711	55	16	prevent	prevent	VERB
cblr-1711	55	17	such	such	ADJ
cblr-1711	55	18	measures	measure	NOUN
cblr-1711	55	19	from	from	ADP
cblr-1711	55	20	effectively	effectively	ADV
cblr-1711	55	21	notifying	notify	VERB
cblr-1711	55	22	and	and	CCONJ
cblr-1711	55	23	protecting	protect	VERB
cblr-1711	55	24	investors	investor	NOUN
cblr-1711	55	25	.	.	PUNCT
cblr-1711	56	1	this	this	DET
cblr-1711	56	2	note	note	NOUN
cblr-1711	56	3	concludes	conclude	VERB
cblr-1711	56	4	with	with	ADP
cblr-1711	56	5	a	a	DET
cblr-1711	56	6	proposal	proposal	NOUN
cblr-1711	56	7	20	20	NUM
cblr-1711	56	8	see	see	VERB
cblr-1711	56	9	hejab	hejab	PROPN
cblr-1711	56	10	azam	azam	PROPN
cblr-1711	56	11	,	,	PUNCT
cblr-1711	56	12	pharmaceutical	pharmaceutical	NOUN
cblr-1711	56	13	vs	vs	ADP
cblr-1711	56	14	biotech	biotech	NOUN
cblr-1711	56	15	:	:	PUNCT
cblr-1711	56	16	chemistry	chemistry	NOUN
cblr-1711	56	17	vs	vs	ADP
cblr-1711	56	18	biology	biology	NOUN
cblr-1711	56	19	,	,	PUNCT
cblr-1711	56	20	patsnap	patsnap	NOUN
cblr-1711	56	21	(	(	PUNCT
cblr-1711	56	22	jan	jan	PROPN
cblr-1711	56	23	.	.	PROPN
cblr-1711	56	24	12	12	NUM
cblr-1711	56	25	,	,	PUNCT
cblr-1711	56	26	2017	2017	NUM
cblr-1711	56	27	,	,	PUNCT
cblr-1711	56	28	11:00	11:00	NUM
cblr-1711	56	29	am	am	NOUN
cblr-1711	56	30	)	)	PUNCT
cblr-1711	56	31	,	,	PUNCT
cblr-1711	56	32	https://blog.patsnap.com/	https://blog.patsnap.com/	NOUN
cblr-1711	56	33	pharmaceutical	pharmaceutical	NOUN
cblr-1711	56	34	-	-	PUNCT
cblr-1711	56	35	vs	vs	ADP
cblr-1711	56	36	-	-	PUNCT
cblr-1711	56	37	biotech	biotech	ADJ
cblr-1711	56	38	-	-	PUNCT
cblr-1711	56	39	chemistry	chemistry	NOUN
cblr-1711	56	40	-	-	PUNCT
cblr-1711	56	41	vs	vs	NOUN
cblr-1711	56	42	-	-	PUNCT
cblr-1711	56	43	biology	biology	NOUN
cblr-1711	56	44	[	[	X
cblr-1711	56	45	https://perma.cc/mxq7hwg7	https://perma.cc/mxq7hwg7	X
cblr-1711	56	46	]	]	X
cblr-1711	56	47	.	.	PUNCT
cblr-1711	57	1	21	21	NUM
cblr-1711	57	2	see	see	VERB
cblr-1711	57	3	i	i	PROPN
cblr-1711	57	4	d.	d.	PROPN
cblr-1711	57	5	;	;	PUNCT
cblr-1711	57	6	segal	segal	PROPN
cblr-1711	57	7	,	,	PUNCT
cblr-1711	57	8	supra	supra	PROPN
cblr-1711	57	9	note	note	PROPN
cblr-1711	57	10	19	19	NUM
cblr-1711	57	11	.	.	NOUN
cblr-1711	57	12	22	22	NUM
cblr-1711	57	13	meghana	meghana	PROPN
cblr-1711	57	14	keshavan	keshavan	PROPN
cblr-1711	57	15	,	,	PUNCT
cblr-1711	57	16	big	big	ADJ
cblr-1711	57	17	biotech	biotech	NOUN
cblr-1711	57	18	is	be	AUX
cblr-1711	57	19	here	here	ADV
cblr-1711	57	20	—	—	PUNCT
cblr-1711	57	21	and	and	CCONJ
cblr-1711	57	22	it	it	PRON
cblr-1711	57	23	’s	’s	AUX
cblr-1711	57	24	starting	start	VERB
cblr-1711	57	25	to	to	PART
cblr-1711	57	26	look	look	VERB
cblr-1711	57	27	a	a	DET
cblr-1711	57	28	lot	lot	NOUN
cblr-1711	57	29	like	like	ADP
cblr-1711	57	30	big	big	ADJ
cblr-1711	57	31	pharma	pharma	NOUN
cblr-1711	57	32	,	,	PUNCT
cblr-1711	57	33	stat	stat	PROPN
cblr-1711	57	34	(	(	PUNCT
cblr-1711	57	35	june	june	PROPN
cblr-1711	57	36	6	6	NUM
cblr-1711	57	37	,	,	PUNCT
cblr-1711	57	38	2016	2016	NUM
cblr-1711	57	39	)	)	PUNCT
cblr-1711	57	40	,	,	PUNCT
cblr-1711	57	41	https://www.statnews.com/2016/06/06/big-biotech-pharma/	https://www.statnews.com/2016/06/06/big-biotech-pharma/	PROPN
cblr-1711	58	1	[	[	X
cblr-1711	58	2	https://perma.cc/g4rl-cdfv	https://perma.cc/g4rl-cdfv	X
cblr-1711	58	3	]	]	X
cblr-1711	58	4	.	.	PUNCT
cblr-1711	59	1	23	23	NUM
cblr-1711	59	2	cf	cf	NOUN
cblr-1711	59	3	.	.	PUNCT
cblr-1711	60	1	i	i	PRON
cblr-1711	60	2	d.	d.	PROPN
cblr-1711	60	3	24	24	NUM
cblr-1711	60	4	see	see	VERB
cblr-1711	60	5	generally	generally	ADV
cblr-1711	60	6	farnkoff	farnkoff	NOUN
cblr-1711	60	7	,	,	PUNCT
cblr-1711	60	8	supra	supra	PROPN
cblr-1711	60	9	note	note	PROPN
cblr-1711	60	10	14	14	NUM
cblr-1711	60	11	;	;	PUNCT
cblr-1711	60	12	ibrahim	ibrahim	PROPN
cblr-1711	60	13	,	,	PUNCT
cblr-1711	60	14	supra	supra	PROPN
cblr-1711	60	15	note	note	PROPN
cblr-1711	60	16	14	14	NUM
cblr-1711	60	17	.	.	PUNCT
cblr-1711	61	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	61	2	1066	1066	NUM
cblr-1711	61	3	columbia	columbia	PROPN
cblr-1711	61	4	business	business	NOUN
cblr-1711	61	5	law	law	PROPN
cblr-1711	61	6	review	review	NOUN
cblr-1711	61	7	[	[	X
cblr-1711	61	8	vol	vol	NOUN
cblr-1711	61	9	.	.	NOUN
cblr-1711	61	10	2018	2018	NUM
cblr-1711	61	11	that	that	PRON
cblr-1711	61	12	biotech	biotech	ADJ
cblr-1711	61	13	startups	startup	NOUN
cblr-1711	61	14	be	be	AUX
cblr-1711	61	15	required	require	VERB
cblr-1711	61	16	to	to	PART
cblr-1711	61	17	disclose	disclose	VERB
cblr-1711	61	18	fda	fda	PROPN
cblr-1711	61	19	approval	approval	PROPN
cblr-1711	61	20	and	and	CCONJ
cblr-1711	61	21	patent	patent	NOUN
cblr-1711	61	22	information	information	NOUN
cblr-1711	61	23	on	on	ADP
cblr-1711	61	24	the	the	DET
cblr-1711	61	25	investing	investing	NOUN
cblr-1711	61	26	platforms	platform	NOUN
cblr-1711	61	27	as	as	ADP
cblr-1711	61	28	a	a	DET
cblr-1711	61	29	means	means	NOUN
cblr-1711	61	30	to	to	PART
cblr-1711	61	31	better	well	ADV
cblr-1711	61	32	protect	protect	VERB
cblr-1711	61	33	investors	investor	NOUN
cblr-1711	61	34	against	against	ADP
cblr-1711	61	35	the	the	DET
cblr-1711	61	36	heightened	heightened	ADJ
cblr-1711	61	37	risk	risk	NOUN
cblr-1711	61	38	of	of	ADP
cblr-1711	61	39	fraud	fraud	NOUN
cblr-1711	61	40	in	in	ADP
cblr-1711	61	41	the	the	DET
cblr-1711	61	42	biotech	biotech	ADJ
cblr-1711	61	43	industry	industry	NOUN
cblr-1711	61	44	.	.	PUNCT
cblr-1711	62	1	ii	ii	PROPN
cblr-1711	62	2	.	.	PUNCT
cblr-1711	63	1	background	background	NOUN
cblr-1711	63	2	of	of	ADP
cblr-1711	63	3	the	the	DET
cblr-1711	63	4	jobs	job	NOUN
cblr-1711	63	5	act	act	VERB
cblr-1711	63	6	a.	a.	NOUN
cblr-1711	63	7	purpose	purpose	NOUN
cblr-1711	63	8	of	of	ADP
cblr-1711	63	9	the	the	DET
cblr-1711	63	10	jobs	job	NOUN
cblr-1711	63	11	act	act	VERB
cblr-1711	63	12	to	to	PART
cblr-1711	63	13	fund	fund	VERB
cblr-1711	63	14	a	a	DET
cblr-1711	63	15	new	new	ADJ
cblr-1711	63	16	business	business	NOUN
cblr-1711	63	17	,	,	PUNCT
cblr-1711	63	18	entrepreneurs	entrepreneur	NOUN
cblr-1711	63	19	may	may	AUX
cblr-1711	63	20	turn	turn	VERB
cblr-1711	63	21	to	to	ADP
cblr-1711	63	22	private	private	ADJ
cblr-1711	63	23	sources	source	NOUN
cblr-1711	63	24	of	of	ADP
cblr-1711	63	25	capital	capital	NOUN
cblr-1711	63	26	—	—	PUNCT
cblr-1711	63	27	angel	angel	NOUN
cblr-1711	63	28	investors	investor	NOUN
cblr-1711	63	29	,	,	PUNCT
cblr-1711	63	30	venture	venture	NOUN
cblr-1711	63	31	capitalists	capitalist	NOUN
cblr-1711	63	32	,	,	PUNCT
cblr-1711	63	33	and	and	CCONJ
cblr-1711	63	34	private	private	ADJ
cblr-1711	63	35	equity	equity	NOUN
cblr-1711	63	36	financiers	financier	NOUN
cblr-1711	63	37	—	—	PUNCT
cblr-1711	63	38	all	all	PRON
cblr-1711	63	39	of	of	ADP
cblr-1711	63	40	whom	whom	PRON
cblr-1711	63	41	seek	seek	VERB
cblr-1711	63	42	a	a	DET
cblr-1711	63	43	high	high	ADJ
cblr-1711	63	44	rate	rate	NOUN
cblr-1711	63	45	of	of	ADP
cblr-1711	63	46	return	return	NOUN
cblr-1711	63	47	on	on	ADP
cblr-1711	63	48	their	their	PRON
cblr-1711	63	49	investments.25	investments.25	NOUN
cblr-1711	63	50	the	the	DET
cblr-1711	63	51	initial	initial	ADJ
cblr-1711	63	52	public	public	ADJ
cblr-1711	63	53	offering	offering	NOUN
cblr-1711	63	54	(	(	PUNCT
cblr-1711	63	55	the	the	DET
cblr-1711	63	56	“	"	PUNCT
cblr-1711	63	57	ipo	ipo	NOUN
cblr-1711	63	58	”	"	PUNCT
cblr-1711	63	59	)	)	PUNCT
cblr-1711	63	60	market	market	NOUN
cblr-1711	63	61	,	,	PUNCT
cblr-1711	63	62	as	as	ADP
cblr-1711	63	63	a	a	DET
cblr-1711	63	64	result	result	NOUN
cblr-1711	63	65	,	,	PUNCT
cblr-1711	63	66	is	be	AUX
cblr-1711	63	67	particularly	particularly	ADV
cblr-1711	63	68	important	important	ADJ
cblr-1711	63	69	to	to	ADP
cblr-1711	63	70	startups	startup	NOUN
cblr-1711	63	71	and	and	CCONJ
cblr-1711	63	72	egcs	egcs	VERB
cblr-1711	63	73	because	because	SCONJ
cblr-1711	63	74	it	it	PRON
cblr-1711	63	75	is	be	AUX
cblr-1711	63	76	one	one	NUM
cblr-1711	63	77	of	of	ADP
cblr-1711	63	78	three	three	NUM
cblr-1711	63	79	major	major	ADJ
cblr-1711	63	80	methods	method	NOUN
cblr-1711	63	81	of	of	ADP
cblr-1711	63	82	exit	exit	NOUN
cblr-1711	63	83	for	for	ADP
cblr-1711	63	84	investors	investor	NOUN
cblr-1711	63	85	,	,	PUNCT
cblr-1711	63	86	the	the	DET
cblr-1711	63	87	others	other	NOUN
cblr-1711	63	88	being	be	AUX
cblr-1711	63	89	merger	merger	NOUN
cblr-1711	63	90	or	or	CCONJ
cblr-1711	63	91	acquisition.26	acquisition.26	ADJ
cblr-1711	63	92	the	the	DET
cblr-1711	63	93	ipo	ipo	NOUN
cblr-1711	63	94	market	market	NOUN
cblr-1711	63	95	offers	offer	VERB
cblr-1711	63	96	many	many	ADJ
cblr-1711	63	97	advantages	advantage	NOUN
cblr-1711	63	98	over	over	ADP
cblr-1711	63	99	merger	merger	NOUN
cblr-1711	63	100	and	and	CCONJ
cblr-1711	63	101	acquisition	acquisition	NOUN
cblr-1711	63	102	(	(	PUNCT
cblr-1711	63	103	“	"	PUNCT
cblr-1711	63	104	m&a	m&a	PROPN
cblr-1711	63	105	”	"	PUNCT
cblr-1711	63	106	)	)	PUNCT
cblr-1711	63	107	markets	market	NOUN
cblr-1711	63	108	:	:	PUNCT
cblr-1711	63	109	access	access	NOUN
cblr-1711	63	110	to	to	ADP
cblr-1711	63	111	capital	capital	NOUN
cblr-1711	63	112	to	to	PART
cblr-1711	63	113	fund	fund	VERB
cblr-1711	63	114	growth	growth	NOUN
cblr-1711	63	115	or	or	CCONJ
cblr-1711	63	116	repay	repay	VERB
cblr-1711	63	117	debt	debt	NOUN
cblr-1711	63	118	;	;	PUNCT
cblr-1711	63	119	increased	increase	VERB
cblr-1711	63	120	liquidity	liquidity	NOUN
cblr-1711	63	121	for	for	ADP
cblr-1711	63	122	existing	exist	VERB
cblr-1711	63	123	owners	owner	NOUN
cblr-1711	63	124	to	to	ADP
cblr-1711	63	125	exit	exit	NOUN
cblr-1711	63	126	;	;	PUNCT
cblr-1711	63	127	and	and	CCONJ
cblr-1711	63	128	public	public	ADJ
cblr-1711	63	129	currency	currency	NOUN
cblr-1711	63	130	to	to	PART
cblr-1711	63	131	finance	finance	VERB
cblr-1711	63	132	acquisitions.27	acquisitions.27	VERB
cblr-1711	63	133	the	the	DET
cblr-1711	63	134	ipo	ipo	NOUN
cblr-1711	63	135	process	process	NOUN
cblr-1711	63	136	also	also	ADV
cblr-1711	63	137	provides	provide	VERB
cblr-1711	63	138	exposure	exposure	NOUN
cblr-1711	63	139	and	and	CCONJ
cblr-1711	63	140	branding	brand	VERB
cblr-1711	63	141	through	through	ADP
cblr-1711	63	142	media	medium	NOUN
cblr-1711	63	143	and	and	CCONJ
cblr-1711	63	144	analyst	analyst	NOUN
cblr-1711	63	145	coverage	coverage	NOUN
cblr-1711	63	146	as	as	ADV
cblr-1711	63	147	well	well	ADV
cblr-1711	63	148	as	as	ADP
cblr-1711	63	149	stock	stock	NOUN
cblr-1711	63	150	option	option	NOUN
cblr-1711	63	151	benefits	benefit	NOUN
cblr-1711	63	152	for	for	ADP
cblr-1711	63	153	current	current	ADJ
cblr-1711	63	154	and	and	CCONJ
cblr-1711	63	155	future	future	ADJ
cblr-1711	63	156	employees.28	employees.28	NOUN
cblr-1711	63	157	furthermore	furthermore	ADV
cblr-1711	63	158	,	,	PUNCT
cblr-1711	63	159	going	go	VERB
cblr-1711	63	160	public	public	NOUN
cblr-1711	63	161	is	be	AUX
cblr-1711	63	162	often	often	ADV
cblr-1711	63	163	accompanied	accompany	VERB
cblr-1711	63	164	by	by	ADP
cblr-1711	63	165	job	job	NOUN
cblr-1711	63	166	creation	creation	NOUN
cblr-1711	63	167	,	,	PUNCT
cblr-1711	63	168	while	while	SCONJ
cblr-1711	63	169	m&a	m&a	PROPN
cblr-1711	63	170	can	can	AUX
cblr-1711	63	171	lead	lead	VERB
cblr-1711	63	172	to	to	ADP
cblr-1711	63	173	downsizing	downsize	VERB
cblr-1711	63	174	in	in	ADP
cblr-1711	63	175	order	order	NOUN
cblr-1711	63	176	to	to	PART
cblr-1711	63	177	eliminate	eliminate	VERB
cblr-1711	63	178	redundancy.29	redundancy.29	NOUN
cblr-1711	63	179	however	however	ADV
cblr-1711	63	180	,	,	PUNCT
cblr-1711	63	181	in	in	ADP
cblr-1711	63	182	the	the	DET
cblr-1711	63	183	two	two	NUM
cblr-1711	63	184	decades	decade	NOUN
cblr-1711	63	185	between	between	ADP
cblr-1711	63	186	1990	1990	NUM
cblr-1711	63	187	and	and	CCONJ
cblr-1711	63	188	2011	2011	NUM
cblr-1711	63	189	,	,	PUNCT
cblr-1711	63	190	the	the	DET
cblr-1711	63	191	ratio	ratio	NOUN
cblr-1711	63	192	of	of	ADP
cblr-1711	63	193	ipos	ipos	NOUN
cblr-1711	63	194	to	to	PART
cblr-1711	63	195	m&a	m&a	PROPN
cblr-1711	63	196	exits	exits	AUX
cblr-1711	63	197	dropped	drop	VERB
cblr-1711	63	198	dramatically.30	dramatically.30	NOUN
cblr-1711	63	199	between	between	ADP
cblr-1711	63	200	2001	2001	NUM
cblr-1711	63	201	and	and	CCONJ
cblr-1711	63	202	2010	2010	NUM
cblr-1711	63	203	,	,	PUNCT
cblr-1711	63	204	seventy	seventy	NUM
cblr-1711	63	205	-	-	PUNCT
cblr-1711	63	206	five	five	NUM
cblr-1711	63	207	percent	percent	NOUN
cblr-1711	63	208	fewer	few	ADJ
cblr-1711	63	209	egcs	egcs	PROPN
cblr-1711	63	210	went	go	VERB
cblr-1711	63	211	public	public	ADJ
cblr-1711	63	212	than	than	ADP
cblr-1711	63	213	between	between	ADP
cblr-1711	63	214	1991	1991	NUM
cblr-1711	63	215	and	and	CCONJ
cblr-1711	63	216	2000	2000	NUM
cblr-1711	63	217	,	,	PUNCT
cblr-1711	63	218	and	and	CCONJ
cblr-1711	63	219	the	the	DET
cblr-1711	63	220	average	average	ADJ
cblr-1711	63	221	age	age	NOUN
cblr-1711	63	222	of	of	ADP
cblr-1711	63	223	companies	company	NOUN
cblr-1711	63	224	going	go	VERB
cblr-1711	63	225	public	public	ADJ
cblr-1711	63	226	was	be	AUX
cblr-1711	63	227	higher	high	ADJ
cblr-1711	63	228	than	than	ADP
cblr-1711	63	229	during	during	ADP
cblr-1711	63	230	the	the	DET
cblr-1711	63	231	previous	previous	ADJ
cblr-1711	63	232	25	25	NUM
cblr-1711	63	233	scott	scott	NOUN
cblr-1711	63	234	,	,	PUNCT
cblr-1711	63	235	supra	supra	PROPN
cblr-1711	63	236	note	note	PROPN
cblr-1711	63	237	13	13	NUM
cblr-1711	63	238	,	,	PUNCT
cblr-1711	63	239	at	at	ADP
cblr-1711	63	240	368	368	NUM
cblr-1711	63	241	.	.	PUNCT
cblr-1711	64	1	26	26	NUM
cblr-1711	65	1	i	i	PRON
cblr-1711	65	2	d.	d.	PROPN
cblr-1711	65	3	27	27	NUM
cblr-1711	66	1	i	i	PRON
cblr-1711	66	2	d.	d.	PROPN
cblr-1711	66	3	28	28	NUM
cblr-1711	67	1	i	i	PRON
cblr-1711	67	2	d.	d.	PROPN
cblr-1711	67	3	29	29	NUM
cblr-1711	67	4	ipo	ipo	PROPN
cblr-1711	67	5	task	task	NOUN
cblr-1711	67	6	force	force	NOUN
cblr-1711	67	7	,	,	PUNCT
cblr-1711	67	8	rebuilding	rebuild	VERB
cblr-1711	67	9	the	the	DET
cblr-1711	67	10	ipo	ipo	NOUN
cblr-1711	67	11	on	on	ADP
cblr-1711	67	12	-	-	PUNCT
cblr-1711	67	13	ramp	ramp	NOUN
cblr-1711	67	14	:	:	PUNCT
cblr-1711	67	15	putting	put	VERB
cblr-1711	67	16	emerging	emerge	VERB
cblr-1711	67	17	companies	company	NOUN
cblr-1711	67	18	and	and	CCONJ
cblr-1711	67	19	the	the	DET
cblr-1711	67	20	job	job	NOUN
cblr-1711	67	21	market	market	NOUN
cblr-1711	67	22	back	back	ADV
cblr-1711	67	23	on	on	ADP
cblr-1711	67	24	the	the	DET
cblr-1711	67	25	road	road	NOUN
cblr-1711	67	26	to	to	ADP
cblr-1711	67	27	growth	growth	NOUN
cblr-1711	67	28	1	1	NUM
cblr-1711	67	29	,	,	PUNCT
cblr-1711	67	30	6	6	NUM
cblr-1711	67	31	(	(	PUNCT
cblr-1711	67	32	2011	2011	NUM
cblr-1711	67	33	)	)	PUNCT
cblr-1711	67	34	,	,	PUNCT
cblr-1711	67	35	https://www.sec.gov/info/smallbus/acsec/	https://www.sec.gov/info/smallbus/acsec/	PROPN
cblr-1711	67	36	rebuilding_the_ipo_on-ramp.pdf	rebuilding_the_ipo_on-ramp.pdf	NOUN
cblr-1711	68	1	[	[	X
cblr-1711	68	2	https://perma.cc/9r6l-w995	https://perma.cc/9r6l-w995	X
cblr-1711	68	3	]	]	X
cblr-1711	68	4	.	.	PUNCT
cblr-1711	69	1	30	30	NUM
cblr-1711	69	2	see	see	VERB
cblr-1711	69	3	i	i	PRON
cblr-1711	69	4	d.	d.	PROPN
cblr-1711	69	5	at	at	ADP
cblr-1711	69	6	7	7	NUM
cblr-1711	69	7	chart	chart	NOUN
cblr-1711	69	8	e.	e.	PROPN
cblr-1711	69	9	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	69	10	no	no	NOUN
cblr-1711	69	11	.	.	PUNCT
cblr-1711	69	12	3:1060	3:1060	NUM
cblr-1711	69	13	]	]	X
cblr-1711	69	14	biotech	biotech	NOUN
cblr-1711	69	15	crowdfunding	crowdfunde	VERB
cblr-1711	69	16	1067	1067	NUM
cblr-1711	69	17	decade.31	decade.31	NOUN
cblr-1711	69	18	the	the	DET
cblr-1711	69	19	ipo	ipo	PROPN
cblr-1711	69	20	task	task	PROPN
cblr-1711	69	21	force	force	NOUN
cblr-1711	69	22	,	,	PUNCT
cblr-1711	69	23	formed	form	VERB
cblr-1711	69	24	in	in	ADP
cblr-1711	69	25	2011	2011	NUM
cblr-1711	69	26	and	and	CCONJ
cblr-1711	69	27	comprised	comprise	VERB
cblr-1711	69	28	of	of	ADP
cblr-1711	69	29	“	"	PUNCT
cblr-1711	69	30	venture	venture	NOUN
cblr-1711	69	31	capitalists	capitalist	NOUN
cblr-1711	69	32	,	,	PUNCT
cblr-1711	69	33	experienced	experienced	ADJ
cblr-1711	69	34	ceos	ceo	NOUN
cblr-1711	69	35	,	,	PUNCT
cblr-1711	69	36	public	public	ADJ
cblr-1711	69	37	investors	investor	NOUN
cblr-1711	69	38	,	,	PUNCT
cblr-1711	69	39	securities	security	NOUN
cblr-1711	69	40	lawyers	lawyer	NOUN
cblr-1711	69	41	,	,	PUNCT
cblr-1711	69	42	academicians	academician	NOUN
cblr-1711	69	43	[	[	X
cblr-1711	69	44	,	,	PUNCT
cblr-1711	69	45	]	]	PUNCT
cblr-1711	69	46	and	and	CCONJ
cblr-1711	69	47	investment	investment	NOUN
cblr-1711	69	48	bankers,”32	bankers,”32	NOUN
cblr-1711	69	49	identified	identify	VERB
cblr-1711	69	50	several	several	ADJ
cblr-1711	69	51	regulatory	regulatory	ADJ
cblr-1711	69	52	and	and	CCONJ
cblr-1711	69	53	market	market	NOUN
cblr-1711	69	54	challenges	challenge	NOUN
cblr-1711	69	55	that	that	PRON
cblr-1711	69	56	discouraged	discourage	VERB
cblr-1711	69	57	egcs	egcs	PROPN
cblr-1711	69	58	from	from	ADP
cblr-1711	69	59	going	go	VERB
cblr-1711	69	60	public.33	public.33	NOUN
cblr-1711	69	61	since	since	SCONJ
cblr-1711	69	62	the	the	DET
cblr-1711	69	63	late	late	ADJ
cblr-1711	69	64	1990s	1990	NOUN
cblr-1711	69	65	,	,	PUNCT
cblr-1711	69	66	a	a	DET
cblr-1711	69	67	series	series	NOUN
cblr-1711	69	68	of	of	ADP
cblr-1711	69	69	new	new	ADJ
cblr-1711	69	70	rules	rule	NOUN
cblr-1711	69	71	and	and	CCONJ
cblr-1711	69	72	regulations	regulation	NOUN
cblr-1711	69	73	(	(	PUNCT
cblr-1711	69	74	including	include	VERB
cblr-1711	69	75	the	the	DET
cblr-1711	69	76	dodd	dodd	PROPN
cblr-1711	69	77	-	-	PUNCT
cblr-1711	69	78	frank	frank	PROPN
cblr-1711	69	79	wall	wall	PROPN
cblr-1711	69	80	street	street	PROPN
cblr-1711	69	81	reform	reform	PROPN
cblr-1711	69	82	and	and	CCONJ
cblr-1711	69	83	consumer	consumer	NOUN
cblr-1711	69	84	protection	protection	NOUN
cblr-1711	69	85	act	act	NOUN
cblr-1711	69	86	of	of	ADP
cblr-1711	69	87	2010	2010	NUM
cblr-1711	69	88	)	)	PUNCT
cblr-1711	69	89	required	require	VERB
cblr-1711	69	90	that	that	SCONJ
cblr-1711	69	91	public	public	ADJ
cblr-1711	69	92	companies	company	NOUN
cblr-1711	69	93	adopt	adopt	VERB
cblr-1711	69	94	more	more	ADV
cblr-1711	69	95	stringent	stringent	ADJ
cblr-1711	69	96	financing	financing	NOUN
cblr-1711	69	97	and	and	CCONJ
cblr-1711	69	98	accounting	account	VERB
cblr-1711	69	99	systems.34	systems.34	NOUN
cblr-1711	69	100	these	these	DET
cblr-1711	69	101	rules	rule	NOUN
cblr-1711	69	102	and	and	CCONJ
cblr-1711	69	103	regulations	regulation	NOUN
cblr-1711	69	104	came	come	VERB
cblr-1711	69	105	about	about	ADV
cblr-1711	69	106	in	in	ADP
cblr-1711	69	107	response	response	NOUN
cblr-1711	69	108	to	to	ADP
cblr-1711	69	109	a	a	DET
cblr-1711	69	110	series	series	NOUN
cblr-1711	69	111	of	of	ADP
cblr-1711	69	112	crises	crisis	NOUN
cblr-1711	69	113	and	and	CCONJ
cblr-1711	69	114	scandals	scandal	NOUN
cblr-1711	69	115	at	at	ADP
cblr-1711	69	116	major	major	ADJ
cblr-1711	69	117	public	public	ADJ
cblr-1711	69	118	companies	company	NOUN
cblr-1711	69	119	and	and	CCONJ
cblr-1711	69	120	constituted	constitute	VERB
cblr-1711	69	121	an	an	DET
cblr-1711	69	122	attempt	attempt	NOUN
cblr-1711	69	123	to	to	PART
cblr-1711	69	124	restore	restore	VERB
cblr-1711	69	125	confidence	confidence	NOUN
cblr-1711	69	126	in	in	ADP
cblr-1711	69	127	the	the	DET
cblr-1711	69	128	public	public	ADJ
cblr-1711	69	129	markets.35	markets.35	NOUN
cblr-1711	69	130	this	this	DET
cblr-1711	69	131	one	one	NUM
cblr-1711	69	132	-	-	PUNCT
cblr-1711	69	133	size	size	NOUN
cblr-1711	69	134	-	-	PUNCT
cblr-1711	69	135	fits	fit	VERB
cblr-1711	69	136	-	-	PUNCT
cblr-1711	69	137	all	all	DET
cblr-1711	69	138	u.s	u.s	PROPN
cblr-1711	69	139	.	.	PROPN
cblr-1711	69	140	securities	security	NOUN
cblr-1711	69	141	regulation	regulation	NOUN
cblr-1711	69	142	scheme	scheme	NOUN
cblr-1711	69	143	placed	place	VERB
cblr-1711	69	144	enormous	enormous	ADJ
cblr-1711	69	145	compliance	compliance	NOUN
cblr-1711	69	146	costs	cost	NOUN
cblr-1711	69	147	on	on	ADP
cblr-1711	69	148	companies	company	NOUN
cblr-1711	69	149	contemplating	contemplate	VERB
cblr-1711	69	150	an	an	DET
cblr-1711	69	151	ipo.36	ipo.36	NOUN
cblr-1711	69	152	for	for	ADP
cblr-1711	69	153	egcs	egcs	PROPN
cblr-1711	69	154	in	in	ADP
cblr-1711	69	155	particular	particular	ADJ
cblr-1711	69	156	,	,	PUNCT
cblr-1711	69	157	compliance	compliance	NOUN
cblr-1711	69	158	demanded	demand	VERB
cblr-1711	69	159	a	a	DET
cblr-1711	69	160	substantial	substantial	ADJ
cblr-1711	69	161	proportion	proportion	NOUN
cblr-1711	69	162	of	of	ADP
cblr-1711	69	163	the	the	DET
cblr-1711	69	164	company	company	NOUN
cblr-1711	69	165	’s	’s	PART
cblr-1711	69	166	earnings	earning	NOUN
cblr-1711	69	167	and	and	CCONJ
cblr-1711	69	168	lowered	lower	VERB
cblr-1711	69	169	the	the	DET
cblr-1711	69	170	company	company	NOUN
cblr-1711	69	171	’s	’s	PART
cblr-1711	69	172	market	market	NOUN
cblr-1711	69	173	capitalization.37	capitalization.37	NOUN
cblr-1711	69	174	egcs	egcs	NOUN
cblr-1711	69	175	could	could	AUX
cblr-1711	69	176	not	not	PART
cblr-1711	69	177	provide	provide	VERB
cblr-1711	69	178	as	as	ADV
cblr-1711	69	179	much	much	ADJ
cblr-1711	69	180	information	information	NOUN
cblr-1711	69	181	to	to	ADP
cblr-1711	69	182	potential	potential	ADJ
cblr-1711	69	183	investors	investor	NOUN
cblr-1711	69	184	,	,	PUNCT
cblr-1711	69	185	making	make	VERB
cblr-1711	69	186	their	their	PRON
cblr-1711	69	187	stocks	stock	NOUN
cblr-1711	69	188	more	more	ADV
cblr-1711	69	189	difficult	difficult	ADJ
cblr-1711	69	190	to	to	PART
cblr-1711	69	191	understand	understand	VERB
cblr-1711	69	192	and	and	CCONJ
cblr-1711	69	193	invest	invest	VERB
cblr-1711	69	194	in	in	ADP
cblr-1711	69	195	,	,	PUNCT
cblr-1711	69	196	and	and	CCONJ
cblr-1711	69	197	investment	investment	NOUN
cblr-1711	69	198	banking	banking	NOUN
cblr-1711	69	199	practices	practice	NOUN
cblr-1711	69	200	thus	thus	ADV
cblr-1711	69	201	shifted	shift	VERB
cblr-1711	69	202	toward	toward	ADP
cblr-1711	69	203	highfrequency	highfrequency	NOUN
cblr-1711	69	204	trading	trading	NOUN
cblr-1711	69	205	of	of	ADP
cblr-1711	69	206	large	large	ADJ
cblr-1711	69	207	-	-	PUNCT
cblr-1711	69	208	cap	cap	NOUN
cblr-1711	69	209	stocks	stock	NOUN
cblr-1711	69	210	instead	instead	ADV
cblr-1711	69	211	of	of	ADP
cblr-1711	69	212	long	long	ADJ
cblr-1711	69	213	-	-	PUNCT
cblr-1711	69	214	term	term	NOUN
cblr-1711	69	215	investing	investing	NOUN
cblr-1711	69	216	in	in	ADP
cblr-1711	69	217	companies.38	companies.38	PROPN
cblr-1711	69	218	as	as	ADP
cblr-1711	69	219	a	a	DET
cblr-1711	69	220	result	result	NOUN
cblr-1711	69	221	,	,	PUNCT
cblr-1711	69	222	the	the	DET
cblr-1711	69	223	ipo	ipo	NOUN
cblr-1711	69	224	process	process	NOUN
cblr-1711	69	225	became	become	VERB
cblr-1711	69	226	31	31	NUM
cblr-1711	69	227	i	i	PRON
cblr-1711	69	228	d.	d.	PROPN
cblr-1711	69	229	at	at	ADP
cblr-1711	69	230	6	6	NUM
cblr-1711	69	231	.	.	NUM
cblr-1711	69	232	32	32	NUM
cblr-1711	70	1	i	i	PRON
cblr-1711	70	2	d.	d.	PROPN
cblr-1711	70	3	at	at	ADP
cblr-1711	70	4	1	1	NUM
cblr-1711	70	5	.	.	X
cblr-1711	70	6	33	33	NUM
cblr-1711	71	1	i	i	PRON
cblr-1711	71	2	d.	d.	PROPN
cblr-1711	71	3	at	at	ADP
cblr-1711	71	4	8	8	NUM
cblr-1711	71	5	.	.	X
cblr-1711	71	6	34	34	NUM
cblr-1711	72	1	i	i	PRON
cblr-1711	72	2	d.	d.	PROPN
cblr-1711	72	3	at	at	ADP
cblr-1711	72	4	9	9	NUM
cblr-1711	72	5	35	35	NUM
cblr-1711	72	6	i	i	PRON
cblr-1711	72	7	d.	d.	PROPN
cblr-1711	72	8	36	36	NUM
cblr-1711	73	1	i	i	PRON
cblr-1711	73	2	d.	d.	PROPN
cblr-1711	73	3	at	at	ADP
cblr-1711	73	4	8	8	NUM
cblr-1711	73	5	.	.	PUNCT
cblr-1711	74	1	the	the	DET
cblr-1711	74	2	regulatory	regulatory	ADJ
cblr-1711	74	3	theory	theory	NOUN
cblr-1711	74	4	,	,	PUNCT
cblr-1711	74	5	which	which	PRON
cblr-1711	74	6	argues	argue	VERB
cblr-1711	74	7	that	that	SCONJ
cblr-1711	74	8	federal	federal	ADJ
cblr-1711	74	9	regulatory	regulatory	ADJ
cblr-1711	74	10	choices	choice	NOUN
cblr-1711	74	11	are	be	AUX
cblr-1711	74	12	responsible	responsible	ADJ
cblr-1711	74	13	for	for	ADP
cblr-1711	74	14	the	the	DET
cblr-1711	74	15	reduction	reduction	NOUN
cblr-1711	74	16	in	in	ADP
cblr-1711	74	17	egc	egc	PROPN
cblr-1711	74	18	ipos	ipos	NOUN
cblr-1711	74	19	,	,	PUNCT
cblr-1711	74	20	is	be	AUX
cblr-1711	74	21	considered	consider	VERB
cblr-1711	74	22	the	the	DET
cblr-1711	74	23	most	most	ADV
cblr-1711	74	24	prominent	prominent	ADJ
cblr-1711	74	25	theory	theory	NOUN
cblr-1711	74	26	in	in	ADP
cblr-1711	74	27	this	this	DET
cblr-1711	74	28	area	area	NOUN
cblr-1711	74	29	.	.	PUNCT
cblr-1711	75	1	other	other	ADJ
cblr-1711	75	2	theories	theory	NOUN
cblr-1711	75	3	focus	focus	VERB
cblr-1711	75	4	on	on	ADP
cblr-1711	75	5	enforcement	enforcement	NOUN
cblr-1711	75	6	(	(	PUNCT
cblr-1711	75	7	public	public	ADJ
cblr-1711	75	8	and	and	CCONJ
cblr-1711	75	9	private	private	ADJ
cblr-1711	75	10	litigation	litigation	NOUN
cblr-1711	75	11	)	)	PUNCT
cblr-1711	75	12	,	,	PUNCT
cblr-1711	75	13	market	market	NOUN
cblr-1711	75	14	structure	structure	NOUN
cblr-1711	75	15	(	(	PUNCT
cblr-1711	75	16	economic	economic	ADJ
cblr-1711	75	17	barriers	barrier	NOUN
cblr-1711	75	18	)	)	PUNCT
cblr-1711	75	19	,	,	PUNCT
cblr-1711	75	20	and	and	CCONJ
cblr-1711	75	21	economic	economic	ADJ
cblr-1711	75	22	scope	scope	NOUN
cblr-1711	75	23	(	(	PUNCT
cblr-1711	75	24	alternative	alternative	ADJ
cblr-1711	75	25	outlets	outlet	NOUN
cblr-1711	75	26	)	)	PUNCT
cblr-1711	75	27	as	as	ADP
cblr-1711	75	28	reasons	reason	NOUN
cblr-1711	75	29	for	for	ADP
cblr-1711	75	30	a	a	DET
cblr-1711	75	31	stunted	stunted	ADJ
cblr-1711	75	32	small	small	ADJ
cblr-1711	75	33	ipo	ipo	NOUN
cblr-1711	75	34	market	market	NOUN
cblr-1711	75	35	.	.	PUNCT
cblr-1711	76	1	see	see	VERB
cblr-1711	76	2	paul	paul	PROPN
cblr-1711	76	3	rose	rose	PROPN
cblr-1711	76	4	&	&	CCONJ
cblr-1711	76	5	steven	steven	PROPN
cblr-1711	76	6	davidoff	davidoff	PROPN
cblr-1711	76	7	solomon	solomon	PROPN
cblr-1711	76	8	,	,	PUNCT
cblr-1711	76	9	where	where	SCONJ
cblr-1711	76	10	have	have	AUX
cblr-1711	76	11	all	all	DET
cblr-1711	76	12	the	the	DET
cblr-1711	76	13	ipos	ipos	NOUN
cblr-1711	76	14	gone	go	VERB
cblr-1711	76	15	?	?	PUNCT
cblr-1711	77	1	the	the	DET
cblr-1711	77	2	hard	hard	ADJ
cblr-1711	77	3	life	life	NOUN
cblr-1711	77	4	of	of	ADP
cblr-1711	77	5	the	the	DET
cblr-1711	77	6	small	small	ADJ
cblr-1711	77	7	ipo	ipo	NOUN
cblr-1711	77	8	,	,	PUNCT
cblr-1711	77	9	6	6	NUM
cblr-1711	77	10	harv	harv	NOUN
cblr-1711	77	11	.	.	PUNCT
cblr-1711	78	1	bus	bus	NOUN
cblr-1711	78	2	.	.	PUNCT
cblr-1711	79	1	l.	l.	PROPN
cblr-1711	79	2	rev	rev	PROPN
cblr-1711	79	3	.	.	PROPN
cblr-1711	79	4	83	83	NUM
cblr-1711	79	5	,	,	PUNCT
cblr-1711	79	6	84	84	NUM
cblr-1711	79	7	(	(	PUNCT
cblr-1711	79	8	2016	2016	NUM
cblr-1711	79	9	)	)	PUNCT
cblr-1711	79	10	.	.	PUNCT
cblr-1711	80	1	37	37	NUM
cblr-1711	80	2	ipo	ipo	PROPN
cblr-1711	80	3	task	task	NOUN
cblr-1711	80	4	force	force	NOUN
cblr-1711	80	5	,	,	PUNCT
cblr-1711	80	6	supra	supra	PROPN
cblr-1711	80	7	note	note	PROPN
cblr-1711	80	8	29	29	NUM
cblr-1711	80	9	,	,	PUNCT
cblr-1711	80	10	at	at	ADP
cblr-1711	80	11	9	9	NUM
cblr-1711	80	12	.	.	X
cblr-1711	80	13	38	38	NUM
cblr-1711	81	1	i	i	PROPN
cblr-1711	81	2	d.	d.	PROPN
cblr-1711	81	3	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	81	4	1068	1068	NUM
cblr-1711	81	5	columbia	columbia	PROPN
cblr-1711	81	6	business	business	NOUN
cblr-1711	81	7	law	law	PROPN
cblr-1711	81	8	review	review	NOUN
cblr-1711	81	9	[	[	X
cblr-1711	81	10	vol	vol	NOUN
cblr-1711	81	11	.	.	NOUN
cblr-1711	81	12	2018	2018	NUM
cblr-1711	81	13	less	less	ADV
cblr-1711	81	14	attractive	attractive	ADJ
cblr-1711	81	15	and	and	CCONJ
cblr-1711	81	16	more	more	ADV
cblr-1711	81	17	difficult	difficult	ADJ
cblr-1711	81	18	for	for	SCONJ
cblr-1711	81	19	egcs	egcs	PROPN
cblr-1711	81	20	looking	look	VERB
cblr-1711	81	21	to	to	PART
cblr-1711	81	22	exit	exit	VERB
cblr-1711	81	23	their	their	PRON
cblr-1711	81	24	initial	initial	ADJ
cblr-1711	81	25	financing	financing	NOUN
cblr-1711	81	26	arrangements.39	arrangements.39	NOUN
cblr-1711	81	27	the	the	DET
cblr-1711	81	28	ipo	ipo	PROPN
cblr-1711	81	29	task	task	PROPN
cblr-1711	81	30	force	force	NOUN
cblr-1711	81	31	found	find	VERB
cblr-1711	81	32	that	that	SCONJ
cblr-1711	81	33	the	the	DET
cblr-1711	81	34	high	high	ADJ
cblr-1711	81	35	cost	cost	NOUN
cblr-1711	81	36	of	of	ADP
cblr-1711	81	37	regulatory	regulatory	ADJ
cblr-1711	81	38	compliance	compliance	NOUN
cblr-1711	81	39	was	be	AUX
cblr-1711	81	40	the	the	DET
cblr-1711	81	41	primary	primary	ADJ
cblr-1711	81	42	concern	concern	NOUN
cblr-1711	81	43	for	for	ADP
cblr-1711	81	44	preand	preand	NOUN
cblr-1711	81	45	post	post	ADJ
cblr-1711	81	46	-	-	ADJ
cblr-1711	81	47	ipo	ipo	ADJ
cblr-1711	81	48	companies.40	companies.40	PROPN
cblr-1711	81	49	egcs	egcs	NOUN
cblr-1711	81	50	seeking	seek	VERB
cblr-1711	81	51	an	an	DET
cblr-1711	81	52	ipo	ipo	NOUN
cblr-1711	81	53	needed	need	VERB
cblr-1711	81	54	to	to	PART
cblr-1711	81	55	be	be	AUX
cblr-1711	81	56	ready	ready	ADJ
cblr-1711	81	57	to	to	PART
cblr-1711	81	58	take	take	VERB
cblr-1711	81	59	on	on	ADP
cblr-1711	81	60	these	these	DET
cblr-1711	81	61	costs	cost	NOUN
cblr-1711	81	62	and	and	CCONJ
cblr-1711	81	63	build	build	VERB
cblr-1711	81	64	up	up	ADP
cblr-1711	81	65	their	their	PRON
cblr-1711	81	66	compliance	compliance	NOUN
cblr-1711	81	67	infrastructure	infrastructure	NOUN
cblr-1711	81	68	one	one	NUM
cblr-1711	81	69	or	or	CCONJ
cblr-1711	81	70	two	two	NUM
cblr-1711	81	71	years	year	NOUN
cblr-1711	81	72	before	before	SCONJ
cblr-1711	81	73	they	they	PRON
cblr-1711	81	74	expected	expect	VERB
cblr-1711	81	75	to	to	PART
cblr-1711	81	76	go	go	VERB
cblr-1711	81	77	public.41	public.41	NOUN
cblr-1711	81	78	in	in	ADP
cblr-1711	81	79	order	order	NOUN
cblr-1711	81	80	to	to	PART
cblr-1711	81	81	reduce	reduce	VERB
cblr-1711	81	82	these	these	DET
cblr-1711	81	83	regulatory	regulatory	ADJ
cblr-1711	81	84	costs	cost	NOUN
cblr-1711	81	85	,	,	PUNCT
cblr-1711	81	86	facilitate	facilitate	VERB
cblr-1711	81	87	capital	capital	NOUN
cblr-1711	81	88	formation	formation	NOUN
cblr-1711	81	89	,	,	PUNCT
cblr-1711	81	90	and	and	CCONJ
cblr-1711	81	91	stimulate	stimulate	VERB
cblr-1711	81	92	the	the	DET
cblr-1711	81	93	dwindling	dwindle	VERB
cblr-1711	81	94	u.s	u.s	PROPN
cblr-1711	81	95	.	.	PROPN
cblr-1711	81	96	ipo	ipo	PROPN
cblr-1711	81	97	market	market	NOUN
cblr-1711	81	98	,	,	PUNCT
cblr-1711	81	99	congress	congress	PROPN
cblr-1711	81	100	enacted	enact	VERB
cblr-1711	81	101	the	the	DET
cblr-1711	81	102	jobs	job	NOUN
cblr-1711	81	103	act	act	VERB
cblr-1711	81	104	with	with	ADP
cblr-1711	81	105	a	a	DET
cblr-1711	81	106	stated	state	VERB
cblr-1711	81	107	goal	goal	NOUN
cblr-1711	81	108	to	to	PART
cblr-1711	81	109	“	"	PUNCT
cblr-1711	81	110	increase	increase	VERB
cblr-1711	81	111	american	american	ADJ
cblr-1711	81	112	job	job	NOUN
cblr-1711	81	113	creation	creation	NOUN
cblr-1711	81	114	and	and	CCONJ
cblr-1711	81	115	economic	economic	ADJ
cblr-1711	81	116	growth	growth	NOUN
cblr-1711	81	117	by	by	ADP
cblr-1711	81	118	improving	improve	VERB
cblr-1711	81	119	access	access	NOUN
cblr-1711	81	120	to	to	ADP
cblr-1711	81	121	the	the	DET
cblr-1711	81	122	public	public	ADJ
cblr-1711	81	123	capital	capital	NOUN
cblr-1711	81	124	markets	market	NOUN
cblr-1711	81	125	for	for	ADP
cblr-1711	81	126	emerging	emerge	VERB
cblr-1711	81	127	growth	growth	NOUN
cblr-1711	81	128	companies	company	NOUN
cblr-1711	81	129	.	.	PUNCT
cblr-1711	82	1	”42	”42	VERB
cblr-1711	82	2	the	the	DET
cblr-1711	82	3	jobs	job	NOUN
cblr-1711	82	4	act	act	NOUN
cblr-1711	82	5	reduces	reduce	VERB
cblr-1711	82	6	financial	financial	ADJ
cblr-1711	82	7	statement	statement	NOUN
cblr-1711	82	8	disclosure	disclosure	NOUN
cblr-1711	82	9	requirements	requirement	NOUN
cblr-1711	82	10	(	(	PUNCT
cblr-1711	82	11	title	title	NOUN
cblr-1711	82	12	i	i	PROPN
cblr-1711	82	13	)	)	PUNCT
cblr-1711	82	14	,	,	PUNCT
cblr-1711	82	15	removes	remove	VERB
cblr-1711	82	16	several	several	ADJ
cblr-1711	82	17	prohibitions	prohibition	NOUN
cblr-1711	82	18	on	on	ADP
cblr-1711	82	19	advertising	advertising	NOUN
cblr-1711	82	20	(	(	PUNCT
cblr-1711	82	21	title	title	PROPN
cblr-1711	82	22	ii	ii	PROPN
cblr-1711	82	23	)	)	PUNCT
cblr-1711	82	24	,	,	PUNCT
cblr-1711	82	25	allows	allow	VERB
cblr-1711	82	26	for	for	ADP
cblr-1711	82	27	additional	additional	ADJ
cblr-1711	82	28	sources	source	NOUN
cblr-1711	82	29	of	of	ADP
cblr-1711	82	30	capital	capital	NOUN
cblr-1711	82	31	from	from	ADP
cblr-1711	82	32	individual	individual	ADJ
cblr-1711	82	33	investors	investor	NOUN
cblr-1711	82	34	(	(	PUNCT
cblr-1711	82	35	title	title	NOUN
cblr-1711	82	36	iii	iii	PROPN
cblr-1711	82	37	)	)	PUNCT
cblr-1711	82	38	,	,	PUNCT
cblr-1711	82	39	creates	create	VERB
cblr-1711	82	40	a	a	DET
cblr-1711	82	41	new	new	ADJ
cblr-1711	82	42	class	class	NOUN
cblr-1711	82	43	of	of	ADP
cblr-1711	82	44	exempted	exempt	VERB
cblr-1711	82	45	securities	security	NOUN
cblr-1711	82	46	(	(	PUNCT
cblr-1711	82	47	title	title	NOUN
cblr-1711	82	48	iv	iv	NUM
cblr-1711	82	49	)	)	PUNCT
cblr-1711	82	50	,	,	PUNCT
cblr-1711	82	51	and	and	CCONJ
cblr-1711	82	52	changes	change	VERB
cblr-1711	82	53	securities	security	NOUN
cblr-1711	82	54	and	and	CCONJ
cblr-1711	82	55	exchange	exchange	PROPN
cblr-1711	82	56	commission	commission	PROPN
cblr-1711	82	57	(	(	PUNCT
cblr-1711	82	58	“	"	PUNCT
cblr-1711	82	59	sec	sec	PROPN
cblr-1711	82	60	”	"	PUNCT
cblr-1711	82	61	)	)	PUNCT
cblr-1711	82	62	registration	registration	NOUN
cblr-1711	82	63	thresholds	threshold	NOUN
cblr-1711	82	64	(	(	PUNCT
cblr-1711	82	65	titles	title	NOUN
cblr-1711	82	66	v	v	NOUN
cblr-1711	82	67	and	and	CCONJ
cblr-1711	82	68	vi).43	vi).43	PROPN
cblr-1711	82	69	b.	b.	PROPN
cblr-1711	82	70	summary	summary	NOUN
cblr-1711	82	71	of	of	ADP
cblr-1711	82	72	jobs	job	NOUN
cblr-1711	82	73	act	act	VERB
cblr-1711	82	74	provisions	provision	NOUN
cblr-1711	82	75	the	the	DET
cblr-1711	82	76	jobs	job	NOUN
cblr-1711	82	77	act	act	PROPN
cblr-1711	82	78	’s	’s	PART
cblr-1711	82	79	central	central	ADJ
cblr-1711	82	80	provision	provision	NOUN
cblr-1711	82	81	is	be	AUX
cblr-1711	82	82	the	the	DET
cblr-1711	82	83	ipo	ipo	NOUN
cblr-1711	82	84	on	on	ADP
cblr-1711	82	85	-	-	PUNCT
cblr-1711	82	86	ramp	ramp	NOUN
cblr-1711	82	87	,	,	PUNCT
cblr-1711	82	88	found	find	VERB
cblr-1711	82	89	in	in	ADP
cblr-1711	82	90	title	title	NOUN
cblr-1711	82	91	i	i	PRON
cblr-1711	82	92	:	:	PUNCT
cblr-1711	82	93	reopening	reopen	VERB
cblr-1711	82	94	american	american	ADJ
cblr-1711	82	95	capital	capital	NOUN
cblr-1711	82	96	markets	market	NOUN
cblr-1711	82	97	to	to	ADP
cblr-1711	82	98	39	39	NUM
cblr-1711	82	99	see	see	VERB
cblr-1711	83	1	i	i	PRON
cblr-1711	83	2	d.	d.	PROPN
cblr-1711	83	3	40	40	NUM
cblr-1711	84	1	i	i	PRON
cblr-1711	84	2	d.	d.	PROPN
cblr-1711	84	3	(	(	PUNCT
cblr-1711	84	4	citing	cite	VERB
cblr-1711	84	5	two	two	NUM
cblr-1711	84	6	surveys	survey	NOUN
cblr-1711	84	7	from	from	ADP
cblr-1711	84	8	2011	2011	NUM
cblr-1711	84	9	which	which	PRON
cblr-1711	84	10	found	find	VERB
cblr-1711	84	11	that	that	SCONJ
cblr-1711	84	12	“	"	PUNCT
cblr-1711	84	13	the	the	DET
cblr-1711	84	14	average	average	ADJ
cblr-1711	84	15	cost	cost	NOUN
cblr-1711	84	16	of	of	ADP
cblr-1711	84	17	achieving	achieve	VERB
cblr-1711	84	18	initial	initial	ADJ
cblr-1711	84	19	regulatory	regulatory	ADJ
cblr-1711	84	20	compliance	compliance	NOUN
cblr-1711	84	21	for	for	ADP
cblr-1711	84	22	an	an	DET
cblr-1711	84	23	ipo	ipo	NOUN
cblr-1711	84	24	[	[	X
cblr-1711	84	25	was	be	AUX
cblr-1711	84	26	]	]	PUNCT
cblr-1711	84	27	$	$	SYM
cblr-1711	84	28	2.5	2.5	NUM
cblr-1711	84	29	million	million	NUM
cblr-1711	84	30	,	,	PUNCT
cblr-1711	84	31	followed	follow	VERB
cblr-1711	84	32	by	by	ADP
cblr-1711	84	33	an	an	DET
cblr-1711	84	34	ongoing	ongoing	ADJ
cblr-1711	84	35	compliance	compliance	NOUN
cblr-1711	84	36	cost	cost	NOUN
cblr-1711	84	37	,	,	PUNCT
cblr-1711	84	38	once	once	ADV
cblr-1711	84	39	public	public	ADJ
cblr-1711	84	40	,	,	PUNCT
cblr-1711	84	41	of	of	ADP
cblr-1711	84	42	$	$	SYM
cblr-1711	84	43	1.5	1.5	NUM
cblr-1711	84	44	million	million	NUM
cblr-1711	84	45	per	per	ADP
cblr-1711	84	46	year	year	NOUN
cblr-1711	84	47	.	.	PUNCT
cblr-1711	84	48	”	"	PUNCT
cblr-1711	84	49	)	)	PUNCT
cblr-1711	84	50	.	.	PUNCT
cblr-1711	85	1	41	41	NUM
cblr-1711	86	1	i	i	PRON
cblr-1711	86	2	d.	d.	PROPN
cblr-1711	86	3	42	42	NUM
cblr-1711	86	4	jumpstart	jumpstart	VERB
cblr-1711	86	5	our	our	PRON
cblr-1711	86	6	business	business	NOUN
cblr-1711	86	7	startups	startup	NOUN
cblr-1711	86	8	act	act	PROPN
cblr-1711	86	9	,	,	PUNCT
cblr-1711	86	10	pub	pub	NOUN
cblr-1711	86	11	.	.	PUNCT
cblr-1711	87	1	l.	l.	PROPN
cblr-1711	87	2	no	no	INTJ
cblr-1711	87	3	.	.	PROPN
cblr-1711	88	1	112	112	NUM
cblr-1711	88	2	-	-	SYM
cblr-1711	88	3	106	106	NUM
cblr-1711	88	4	,	,	PUNCT
cblr-1711	88	5	§	§	PROPN
cblr-1711	88	6	101	101	NUM
cblr-1711	88	7	,	,	PUNCT
cblr-1711	88	8	126	126	NUM
cblr-1711	88	9	stat	stat	NOUN
cblr-1711	88	10	.	.	PUNCT
cblr-1711	89	1	306	306	NUM
cblr-1711	89	2	,	,	PUNCT
cblr-1711	89	3	306	306	NUM
cblr-1711	89	4	(	(	PUNCT
cblr-1711	89	5	2012	2012	NUM
cblr-1711	89	6	)	)	PUNCT
cblr-1711	89	7	(	(	PUNCT
cblr-1711	89	8	codified	codify	VERB
cblr-1711	89	9	as	as	SCONJ
cblr-1711	89	10	amended	amend	VERB
cblr-1711	89	11	in	in	ADP
cblr-1711	89	12	scattered	scatter	VERB
cblr-1711	89	13	sections	section	NOUN
cblr-1711	89	14	of	of	ADP
cblr-1711	89	15	15	15	NUM
cblr-1711	89	16	u.s.c	u.s.c	ADJ
cblr-1711	89	17	.	.	PUNCT
cblr-1711	89	18	)	)	PUNCT
cblr-1711	89	19	;	;	PUNCT
cblr-1711	89	20	see	see	VERB
cblr-1711	89	21	also	also	ADV
cblr-1711	89	22	rose	rise	VERB
cblr-1711	89	23	&	&	CCONJ
cblr-1711	89	24	solomon	solomon	PROPN
cblr-1711	89	25	,	,	PUNCT
cblr-1711	89	26	supra	supra	PROPN
cblr-1711	89	27	note	note	PROPN
cblr-1711	89	28	36	36	NUM
cblr-1711	89	29	,	,	PUNCT
cblr-1711	89	30	at	at	ADP
cblr-1711	89	31	84–85	84–85	NUM
cblr-1711	89	32	.	.	PUNCT
cblr-1711	90	1	the	the	DET
cblr-1711	90	2	jobs	job	NOUN
cblr-1711	90	3	act	act	NOUN
cblr-1711	90	4	was	be	AUX
cblr-1711	90	5	enacted	enact	VERB
cblr-1711	90	6	primarily	primarily	ADV
cblr-1711	90	7	to	to	PART
cblr-1711	90	8	reduce	reduce	VERB
cblr-1711	90	9	the	the	DET
cblr-1711	90	10	federal	federal	ADJ
cblr-1711	90	11	regulatory	regulatory	ADJ
cblr-1711	90	12	burdens	burden	NOUN
cblr-1711	90	13	in	in	ADP
cblr-1711	90	14	place	place	NOUN
cblr-1711	90	15	for	for	ADP
cblr-1711	90	16	egcs	egcs	ADJ
cblr-1711	90	17	,	,	PUNCT
cblr-1711	90	18	such	such	ADJ
cblr-1711	90	19	as	as	ADP
cblr-1711	90	20	part	part	NOUN
cblr-1711	90	21	of	of	ADP
cblr-1711	90	22	the	the	DET
cblr-1711	90	23	sarbanes	sarbanes	PROPN
cblr-1711	90	24	-	-	PUNCT
cblr-1711	90	25	oxley	oxley	ADJ
cblr-1711	90	26	act	act	NOUN
cblr-1711	90	27	of	of	ADP
cblr-1711	90	28	2002	2002	NUM
cblr-1711	90	29	,	,	PUNCT
cblr-1711	90	30	which	which	PRON
cblr-1711	90	31	required	require	VERB
cblr-1711	90	32	“	"	PUNCT
cblr-1711	90	33	public	public	ADJ
cblr-1711	90	34	company	company	NOUN
cblr-1711	90	35	auditors	auditor	NOUN
cblr-1711	90	36	to	to	PART
cblr-1711	90	37	attest	attest	VERB
cblr-1711	90	38	to	to	ADP
cblr-1711	90	39	and	and	CCONJ
cblr-1711	90	40	report	report	VERB
cblr-1711	90	41	on	on	ADP
cblr-1711	90	42	management	management	NOUN
cblr-1711	90	43	’s	’s	PART
cblr-1711	90	44	internal	internal	ADJ
cblr-1711	90	45	control	control	NOUN
cblr-1711	90	46	over	over	ADP
cblr-1711	90	47	financial	financial	ADJ
cblr-1711	90	48	reporting	reporting	NOUN
cblr-1711	90	49	,	,	PUNCT
cblr-1711	90	50	”	"	PUNCT
cblr-1711	90	51	though	though	SCONJ
cblr-1711	90	52	it	it	PRON
cblr-1711	90	53	also	also	ADV
cblr-1711	90	54	addressed	address	VERB
cblr-1711	90	55	market	market	NOUN
cblr-1711	90	56	forces	force	NOUN
cblr-1711	90	57	by	by	ADP
cblr-1711	90	58	loosening	loosen	VERB
cblr-1711	90	59	restrictions	restriction	NOUN
cblr-1711	90	60	on	on	ADP
cblr-1711	90	61	research	research	NOUN
cblr-1711	90	62	analysts	analyst	NOUN
cblr-1711	90	63	.	.	PUNCT
cblr-1711	91	1	i	i	PRON
cblr-1711	91	2	d.	d.	PROPN
cblr-1711	91	3	at	at	ADP
cblr-1711	91	4	85	85	NUM
cblr-1711	91	5	n.7	n.7	NOUN
cblr-1711	91	6	.	.	PUNCT
cblr-1711	92	1	43	43	NUM
cblr-1711	92	2	see	see	VERB
cblr-1711	92	3	rose	rise	VERB
cblr-1711	92	4	&	&	CCONJ
cblr-1711	92	5	solomon	solomon	PROPN
cblr-1711	92	6	,	,	PUNCT
cblr-1711	92	7	supra	supra	PROPN
cblr-1711	92	8	note	note	PROPN
cblr-1711	92	9	36	36	NUM
cblr-1711	92	10	,	,	PUNCT
cblr-1711	92	11	at	at	ADP
cblr-1711	92	12	85	85	NUM
cblr-1711	92	13	;	;	PUNCT
cblr-1711	92	14	scott	scott	PROPN
cblr-1711	92	15	,	,	PUNCT
cblr-1711	92	16	supra	supra	PROPN
cblr-1711	92	17	note	note	PROPN
cblr-1711	92	18	13	13	NUM
cblr-1711	92	19	,	,	PUNCT
cblr-1711	92	20	at	at	ADP
cblr-1711	92	21	374–85	374–85	NUM
cblr-1711	92	22	.	.	PUNCT
cblr-1711	93	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	93	2	no	no	NOUN
cblr-1711	93	3	.	.	NOUN
cblr-1711	94	1	3:1060	3:1060	NUM
cblr-1711	94	2	]	]	X
cblr-1711	94	3	biotech	biotech	NOUN
cblr-1711	94	4	crowdfunding	crowdfunde	VERB
cblr-1711	94	5	1069	1069	NUM
cblr-1711	94	6	emerging	emerge	VERB
cblr-1711	94	7	growth	growth	NOUN
cblr-1711	94	8	companies	company	NOUN
cblr-1711	94	9	,	,	PUNCT
cblr-1711	94	10	by	by	ADP
cblr-1711	94	11	which	which	PRON
cblr-1711	94	12	congress	congress	PROPN
cblr-1711	94	13	intended	intend	VERB
cblr-1711	94	14	to	to	PART
cblr-1711	94	15	ease	ease	VERB
cblr-1711	94	16	the	the	DET
cblr-1711	94	17	regulatory	regulatory	ADJ
cblr-1711	94	18	burden	burden	NOUN
cblr-1711	94	19	associated	associate	VERB
cblr-1711	94	20	with	with	ADP
cblr-1711	94	21	going	go	VERB
cblr-1711	94	22	public	public	ADJ
cblr-1711	94	23	for	for	ADP
cblr-1711	94	24	smaller	small	ADJ
cblr-1711	94	25	companies.44	companies.44	NOUN
cblr-1711	94	26	previously	previously	ADV
cblr-1711	94	27	,	,	PUNCT
cblr-1711	94	28	companies	company	NOUN
cblr-1711	94	29	with	with	ADP
cblr-1711	94	30	a	a	DET
cblr-1711	94	31	market	market	NOUN
cblr-1711	94	32	capitalization	capitalization	NOUN
cblr-1711	94	33	of	of	ADP
cblr-1711	94	34	less	less	ADJ
cblr-1711	94	35	than	than	ADP
cblr-1711	94	36	$	$	SYM
cblr-1711	94	37	75	75	NUM
cblr-1711	94	38	million	million	NUM
cblr-1711	94	39	were	be	AUX
cblr-1711	94	40	exempt	exempt	ADJ
cblr-1711	94	41	from	from	ADP
cblr-1711	94	42	a	a	DET
cblr-1711	94	43	number	number	NOUN
cblr-1711	94	44	of	of	ADP
cblr-1711	94	45	public	public	ADJ
cblr-1711	94	46	disclosure	disclosure	NOUN
cblr-1711	94	47	requirements.45	requirements.45	NOUN
cblr-1711	94	48	however	however	ADV
cblr-1711	94	49	,	,	PUNCT
cblr-1711	94	50	the	the	DET
cblr-1711	94	51	exemption	exemption	NOUN
cblr-1711	94	52	was	be	AUX
cblr-1711	94	53	not	not	PART
cblr-1711	94	54	useful	useful	ADJ
cblr-1711	94	55	for	for	ADP
cblr-1711	94	56	many	many	ADJ
cblr-1711	94	57	companies	company	NOUN
cblr-1711	94	58	considering	consider	VERB
cblr-1711	94	59	an	an	DET
cblr-1711	94	60	ipo	ipo	NOUN
cblr-1711	94	61	,	,	PUNCT
cblr-1711	94	62	as	as	SCONJ
cblr-1711	94	63	many	many	ADJ
cblr-1711	94	64	of	of	ADP
cblr-1711	94	65	these	these	DET
cblr-1711	94	66	companies	company	NOUN
cblr-1711	94	67	were	be	AUX
cblr-1711	94	68	high	high	ADJ
cblr-1711	94	69	-	-	PUNCT
cblr-1711	94	70	growth	growth	NOUN
cblr-1711	94	71	and	and	CCONJ
cblr-1711	94	72	venture	venture	NOUN
cblr-1711	94	73	-	-	PUNCT
cblr-1711	94	74	backed	back	VERB
cblr-1711	94	75	with	with	ADP
cblr-1711	94	76	a	a	DET
cblr-1711	94	77	market	market	NOUN
cblr-1711	94	78	capitalization	capitalization	NOUN
cblr-1711	94	79	outside	outside	ADP
cblr-1711	94	80	this	this	DET
cblr-1711	94	81	range.46	range.46	NOUN
cblr-1711	94	82	section	section	NOUN
cblr-1711	94	83	101	101	NUM
cblr-1711	94	84	of	of	ADP
cblr-1711	94	85	the	the	DET
cblr-1711	94	86	jobs	job	NOUN
cblr-1711	94	87	act	act	NOUN
cblr-1711	94	88	defines	define	VERB
cblr-1711	94	89	a	a	DET
cblr-1711	94	90	new	new	ADJ
cblr-1711	94	91	category	category	NOUN
cblr-1711	94	92	of	of	ADP
cblr-1711	94	93	issuer	issuer	NOUN
cblr-1711	94	94	,	,	PUNCT
cblr-1711	94	95	the	the	DET
cblr-1711	94	96	egc	egc	PROPN
cblr-1711	94	97	,	,	PUNCT
cblr-1711	94	98	as	as	SCONJ
cblr-1711	94	99	one	one	NUM
cblr-1711	94	100	with	with	ADP
cblr-1711	94	101	total	total	ADJ
cblr-1711	94	102	annual	annual	ADJ
cblr-1711	94	103	gross	gross	ADJ
cblr-1711	94	104	revenues	revenue	NOUN
cblr-1711	94	105	of	of	ADP
cblr-1711	94	106	less	less	ADJ
cblr-1711	94	107	than	than	ADP
cblr-1711	94	108	$	$	SYM
cblr-1711	94	109	1	1	NUM
cblr-1711	94	110	billion	billion	NUM
cblr-1711	94	111	during	during	ADP
cblr-1711	94	112	its	its	PRON
cblr-1711	94	113	most	most	ADV
cblr-1711	94	114	recent	recent	ADJ
cblr-1711	94	115	fiscal	fiscal	ADJ
cblr-1711	94	116	year.47	year.47	NOUN
cblr-1711	94	117	the	the	DET
cblr-1711	94	118	jobs	job	NOUN
cblr-1711	94	119	act	act	AUX
cblr-1711	94	120	not	not	PART
cblr-1711	94	121	only	only	ADV
cblr-1711	94	122	extends	extend	VERB
cblr-1711	94	123	the	the	DET
cblr-1711	94	124	disclosure	disclosure	NOUN
cblr-1711	94	125	exceptions	exception	NOUN
cblr-1711	94	126	to	to	ADP
cblr-1711	94	127	companies	company	NOUN
cblr-1711	94	128	with	with	ADP
cblr-1711	94	129	a	a	DET
cblr-1711	94	130	higher	high	ADJ
cblr-1711	94	131	market	market	NOUN
cblr-1711	94	132	capitalization	capitalization	NOUN
cblr-1711	94	133	,	,	PUNCT
cblr-1711	94	134	but	but	CCONJ
cblr-1711	94	135	it	it	PRON
cblr-1711	94	136	also	also	ADV
cblr-1711	94	137	provides	provide	VERB
cblr-1711	94	138	a	a	DET
cblr-1711	94	139	five	five	NUM
cblr-1711	94	140	-	-	PUNCT
cblr-1711	94	141	year	year	NOUN
cblr-1711	94	142	qualifying	qualifying	NOUN
cblr-1711	94	143	limit	limit	NOUN
cblr-1711	94	144	,	,	PUNCT
cblr-1711	94	145	allowing	allow	VERB
cblr-1711	94	146	the	the	DET
cblr-1711	94	147	egc	egc	NOUN
cblr-1711	94	148	to	to	PART
cblr-1711	94	149	gradually	gradually	ADV
cblr-1711	94	150	ramp	ramp	VERB
cblr-1711	94	151	up	up	ADP
cblr-1711	94	152	reporting	report	VERB
cblr-1711	94	153	obligations	obligation	NOUN
cblr-1711	94	154	within	within	ADP
cblr-1711	94	155	the	the	DET
cblr-1711	94	156	five	five	NUM
cblr-1711	94	157	-	-	PUNCT
cblr-1711	94	158	year	year	NOUN
cblr-1711	94	159	period	period	NOUN
cblr-1711	94	160	after	after	SCONJ
cblr-1711	94	161	it	it	PRON
cblr-1711	94	162	goes	go	VERB
cblr-1711	94	163	public.48	public.48	NOUN
cblr-1711	94	164	this	this	PRON
cblr-1711	94	165	on	on	ADP
cblr-1711	94	166	-	-	PUNCT
cblr-1711	94	167	ramp	ramp	NOUN
cblr-1711	94	168	reduces	reduce	VERB
cblr-1711	94	169	the	the	DET
cblr-1711	94	170	burdensome	burdensome	ADJ
cblr-1711	94	171	filing	filing	NOUN
cblr-1711	94	172	and	and	CCONJ
cblr-1711	94	173	compliance	compliance	NOUN
cblr-1711	94	174	requirements	requirement	NOUN
cblr-1711	94	175	for	for	ADP
cblr-1711	94	176	a	a	DET
cblr-1711	94	177	wider	wide	ADJ
cblr-1711	94	178	range	range	NOUN
cblr-1711	94	179	of	of	ADP
cblr-1711	94	180	companies.49	companies.49	PRON
cblr-1711	94	181	egcs	egcs	VERB
cblr-1711	94	182	now	now	ADV
cblr-1711	94	183	face	face	VERB
cblr-1711	94	184	accounting	accounting	NOUN
cblr-1711	94	185	regulations	regulation	NOUN
cblr-1711	94	186	more	more	ADV
cblr-1711	94	187	in	in	ADP
cblr-1711	94	188	line	line	NOUN
cblr-1711	94	189	with	with	ADP
cblr-1711	94	190	those	those	PRON
cblr-1711	94	191	faced	face	VERB
cblr-1711	94	192	by	by	ADP
cblr-1711	94	193	private	private	ADJ
cblr-1711	94	194	companies	company	NOUN
cblr-1711	94	195	rather	rather	ADV
cblr-1711	94	196	than	than	ADP
cblr-1711	94	197	those	those	PRON
cblr-1711	94	198	that	that	PRON
cblr-1711	94	199	apply	apply	VERB
cblr-1711	94	200	to	to	ADP
cblr-1711	94	201	public	public	ADJ
cblr-1711	94	202	companies.50	companies.50	PROPN
cblr-1711	94	203	egcs	egcs	PROPN
cblr-1711	94	204	are	be	AUX
cblr-1711	94	205	exempt	exempt	ADJ
cblr-1711	94	206	from	from	ADP
cblr-1711	94	207	certain	certain	ADJ
cblr-1711	94	208	sarbanes	sarbane	NOUN
cblr-1711	94	209	-	-	PUNCT
cblr-1711	94	210	oxley	oxley	ADJ
cblr-1711	94	211	accounting	accounting	NOUN
cblr-1711	94	212	standards	standard	NOUN
cblr-1711	94	213	and	and	CCONJ
cblr-1711	94	214	from	from	ADP
cblr-1711	94	215	several	several	ADJ
cblr-1711	94	216	financial	financial	ADJ
cblr-1711	94	217	performance	performance	NOUN
cblr-1711	94	218	and	and	CCONJ
cblr-1711	95	1	executive	executive	NOUN
cblr-1711	95	2	compensation	compensation	NOUN
cblr-1711	95	3	disclosure	disclosure	NOUN
cblr-1711	95	4	requirements.51	requirements.51	NOUN
cblr-1711	95	5	they	they	PRON
cblr-1711	95	6	are	be	AUX
cblr-1711	95	7	not	not	PART
cblr-1711	95	8	required	require	VERB
cblr-1711	95	9	to	to	PART
cblr-1711	95	10	seek	seek	VERB
cblr-1711	95	11	shareholder	shareholder	NOUN
cblr-1711	95	12	approval	approval	NOUN
cblr-1711	95	13	on	on	ADP
cblr-1711	95	14	a	a	DET
cblr-1711	95	15	number	number	NOUN
cblr-1711	95	16	of	of	ADP
cblr-1711	95	17	compensation	compensation	NOUN
cblr-1711	95	18	-	-	PUNCT
cblr-1711	95	19	related	relate	VERB
cblr-1711	95	20	provisions	provision	NOUN
cblr-1711	95	21	in	in	ADP
cblr-1711	95	22	44	44	NUM
cblr-1711	95	23	see	see	NOUN
cblr-1711	95	24	scott	scott	PROPN
cblr-1711	95	25	,	,	PUNCT
cblr-1711	95	26	supra	supra	PROPN
cblr-1711	95	27	note	note	PROPN
cblr-1711	95	28	13	13	NUM
cblr-1711	95	29	,	,	PUNCT
cblr-1711	95	30	at	at	ADP
cblr-1711	95	31	373–75	373–75	NUM
cblr-1711	95	32	.	.	PUNCT
cblr-1711	96	1	45	45	NUM
cblr-1711	96	2	i	i	PROPN
cblr-1711	96	3	d.	d.	PROPN
cblr-1711	96	4	at	at	ADP
cblr-1711	96	5	374	374	NUM
cblr-1711	96	6	.	.	PUNCT
cblr-1711	96	7	46	46	NUM
cblr-1711	97	1	i	i	PRON
cblr-1711	97	2	d.	d.	PROPN
cblr-1711	97	3	47	47	NUM
cblr-1711	97	4	jumpstart	jumpstart	VERB
cblr-1711	97	5	our	our	PRON
cblr-1711	97	6	business	business	NOUN
cblr-1711	97	7	startups	startup	NOUN
cblr-1711	97	8	act	act	VERB
cblr-1711	97	9	§	§	PROPN
cblr-1711	97	10	101	101	NUM
cblr-1711	97	11	.	.	PUNCT
cblr-1711	98	1	in	in	ADP
cblr-1711	98	2	2017	2017	NUM
cblr-1711	98	3	,	,	PUNCT
cblr-1711	98	4	the	the	DET
cblr-1711	98	5	sec	sec	PROPN
cblr-1711	98	6	effectuated	effectuate	VERB
cblr-1711	98	7	inflation	inflation	NOUN
cblr-1711	98	8	adjustments	adjustment	NOUN
cblr-1711	98	9	required	require	VERB
cblr-1711	98	10	under	under	ADP
cblr-1711	98	11	title	title	NOUN
cblr-1711	98	12	i	i	PRON
cblr-1711	98	13	—	—	PUNCT
cblr-1711	98	14	that	that	SCONJ
cblr-1711	98	15	the	the	DET
cblr-1711	98	16	sec	sec	PROPN
cblr-1711	98	17	would	would	AUX
cblr-1711	98	18	index	index	NOUN
cblr-1711	98	19	for	for	ADP
cblr-1711	98	20	inflation	inflation	NOUN
cblr-1711	98	21	every	every	DET
cblr-1711	98	22	five	five	NUM
cblr-1711	98	23	years	year	NOUN
cblr-1711	98	24	—	—	PUNCT
cblr-1711	98	25	and	and	CCONJ
cblr-1711	98	26	increased	increase	VERB
cblr-1711	98	27	the	the	DET
cblr-1711	98	28	revenue	revenue	NOUN
cblr-1711	98	29	threshold	threshold	NOUN
cblr-1711	98	30	from	from	ADP
cblr-1711	98	31	$	$	SYM
cblr-1711	98	32	1	1	NUM
cblr-1711	98	33	billion	billion	NUM
cblr-1711	98	34	to	to	PART
cblr-1711	98	35	$	$	SYM
cblr-1711	98	36	1.07	1.07	NUM
cblr-1711	98	37	billion	billion	NUM
cblr-1711	98	38	.	.	PUNCT
cblr-1711	99	1	inflation	inflation	NOUN
cblr-1711	99	2	adjustments	adjustment	NOUN
cblr-1711	99	3	and	and	CCONJ
cblr-1711	99	4	other	other	ADJ
cblr-1711	99	5	technical	technical	ADJ
cblr-1711	99	6	amendments	amendment	NOUN
cblr-1711	99	7	under	under	ADP
cblr-1711	99	8	titles	title	NOUN
cblr-1711	99	9	i	i	PRON
cblr-1711	99	10	and	and	CCONJ
cblr-1711	99	11	iii	iii	NUM
cblr-1711	99	12	of	of	ADP
cblr-1711	99	13	the	the	DET
cblr-1711	99	14	jobs	job	NOUN
cblr-1711	99	15	act	act	PROPN
cblr-1711	99	16	,	,	PUNCT
cblr-1711	99	17	82	82	NUM
cblr-1711	99	18	fed	fed	PROPN
cblr-1711	99	19	.	.	PUNCT
cblr-1711	100	1	reg	reg	PROPN
cblr-1711	100	2	.	.	PROPN
cblr-1711	101	1	17,545	17,545	NUM
cblr-1711	101	2	,	,	PUNCT
cblr-1711	101	3	17,549	17,549	NUM
cblr-1711	101	4	(	(	PUNCT
cblr-1711	101	5	apr	apr	PROPN
cblr-1711	101	6	.	.	PROPN
cblr-1711	101	7	12	12	NUM
cblr-1711	101	8	,	,	PUNCT
cblr-1711	101	9	2017	2017	NUM
cblr-1711	101	10	)	)	PUNCT
cblr-1711	101	11	(	(	PUNCT
cblr-1711	101	12	to	to	PART
cblr-1711	101	13	be	be	AUX
cblr-1711	101	14	codified	codify	VERB
cblr-1711	101	15	at	at	ADP
cblr-1711	101	16	17	17	NUM
cblr-1711	101	17	c.f.r	c.f.r	NOUN
cblr-1711	101	18	.	.	PUNCT
cblr-1711	102	1	pt	pt	PROPN
cblr-1711	102	2	.	.	PROPN
cblr-1711	102	3	210	210	NUM
cblr-1711	102	4	,	,	PUNCT
cblr-1711	102	5	227	227	NUM
cblr-1711	102	6	,	,	PUNCT
cblr-1711	102	7	229	229	NUM
cblr-1711	102	8	,	,	PUNCT
cblr-1711	102	9	230	230	NUM
cblr-1711	102	10	,	,	PUNCT
cblr-1711	102	11	239	239	NUM
cblr-1711	102	12	,	,	PUNCT
cblr-1711	102	13	240	240	NUM
cblr-1711	102	14	,	,	PUNCT
cblr-1711	102	15	249	249	NUM
cblr-1711	102	16	)	)	PUNCT
cblr-1711	102	17	.	.	PUNCT
cblr-1711	103	1	48	48	NUM
cblr-1711	103	2	see	see	VERB
cblr-1711	103	3	scott	scott	PROPN
cblr-1711	103	4	,	,	PUNCT
cblr-1711	103	5	supra	supra	PROPN
cblr-1711	103	6	note	note	PROPN
cblr-1711	103	7	13	13	NUM
cblr-1711	103	8	,	,	PUNCT
cblr-1711	103	9	at	at	ADP
cblr-1711	103	10	375	375	NUM
cblr-1711	103	11	.	.	PUNCT
cblr-1711	104	1	49	49	NUM
cblr-1711	104	2	see	see	VERB
cblr-1711	104	3	i	i	PRON
cblr-1711	104	4	d.	d.	PROPN
cblr-1711	104	5	at	at	ADP
cblr-1711	104	6	374–75	374–75	PROPN
cblr-1711	104	7	.	.	PUNCT
cblr-1711	105	1	50	50	NUM
cblr-1711	105	2	i	i	PRON
cblr-1711	105	3	d.	d.	NOUN
cblr-1711	105	4	at	at	ADP
cblr-1711	105	5	375	375	NUM
cblr-1711	105	6	.	.	PUNCT
cblr-1711	105	7	51	51	NUM
cblr-1711	106	1	i	i	PRON
cblr-1711	106	2	d.	d.	PROPN
cblr-1711	106	3	at	at	ADP
cblr-1711	106	4	376	376	NUM
cblr-1711	106	5	.	.	PUNCT
cblr-1711	107	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	107	2	1070	1070	NUM
cblr-1711	107	3	columbia	columbia	PROPN
cblr-1711	107	4	business	business	NOUN
cblr-1711	107	5	law	law	PROPN
cblr-1711	107	6	review	review	NOUN
cblr-1711	107	7	[	[	X
cblr-1711	107	8	vol	vol	NOUN
cblr-1711	107	9	.	.	NOUN
cblr-1711	107	10	2018	2018	NUM
cblr-1711	108	1	the	the	DET
cblr-1711	108	2	securities	securities	PROPN
cblr-1711	108	3	exchange	exchange	PROPN
cblr-1711	108	4	act	act	NOUN
cblr-1711	108	5	of	of	ADP
cblr-1711	108	6	1934	1934	NUM
cblr-1711	108	7	(	(	PUNCT
cblr-1711	108	8	the	the	DET
cblr-1711	108	9	“	"	PUNCT
cblr-1711	108	10	exchange	exchange	PROPN
cblr-1711	108	11	act	act	NOUN
cblr-1711	108	12	”	"	PUNCT
cblr-1711	108	13	)	)	PUNCT
cblr-1711	108	14	,	,	PUNCT
cblr-1711	108	15	which	which	PRON
cblr-1711	108	16	benefits	benefit	VERB
cblr-1711	108	17	founders	founder	NOUN
cblr-1711	108	18	and	and	CCONJ
cblr-1711	108	19	entrepreneurs	entrepreneur	NOUN
cblr-1711	108	20	who	who	PRON
cblr-1711	108	21	prefer	prefer	VERB
cblr-1711	108	22	to	to	PART
cblr-1711	108	23	retain	retain	VERB
cblr-1711	108	24	control	control	NOUN
cblr-1711	108	25	over	over	ADP
cblr-1711	108	26	compensation	compensation	NOUN
cblr-1711	108	27	after	after	ADP
cblr-1711	108	28	going	go	VERB
cblr-1711	108	29	public.52	public.52	ADJ
cblr-1711	108	30	the	the	DET
cblr-1711	108	31	jobs	job	NOUN
cblr-1711	108	32	act	act	NOUN
cblr-1711	108	33	also	also	ADV
cblr-1711	108	34	facilitates	facilitate	VERB
cblr-1711	108	35	communication	communication	NOUN
cblr-1711	108	36	about	about	ADP
cblr-1711	108	37	the	the	DET
cblr-1711	108	38	egc	egc	NOUN
cblr-1711	108	39	between	between	ADP
cblr-1711	108	40	management	management	NOUN
cblr-1711	108	41	and	and	CCONJ
cblr-1711	108	42	potential	potential	ADJ
cblr-1711	108	43	investors	investor	NOUN
cblr-1711	108	44	,	,	PUNCT
cblr-1711	108	45	as	as	ADV
cblr-1711	108	46	well	well	ADV
cblr-1711	108	47	as	as	ADP
cblr-1711	108	48	with	with	ADP
cblr-1711	108	49	research	research	NOUN
cblr-1711	108	50	analysts	analyst	NOUN
cblr-1711	108	51	,	,	PUNCT
cblr-1711	108	52	during	during	ADP
cblr-1711	108	53	the	the	DET
cblr-1711	108	54	ipo	ipo	NOUN
cblr-1711	108	55	process	process	NOUN
cblr-1711	108	56	,	,	PUNCT
cblr-1711	108	57	thus	thus	ADV
cblr-1711	108	58	helping	help	VERB
cblr-1711	108	59	to	to	PART
cblr-1711	108	60	value	value	VERB
cblr-1711	108	61	the	the	DET
cblr-1711	108	62	company	company	NOUN
cblr-1711	108	63	’s	’s	PART
cblr-1711	108	64	securities.53	securities.53	NOUN
cblr-1711	108	65	while	while	SCONJ
cblr-1711	108	66	title	title	NOUN
cblr-1711	108	67	i	i	PRON
cblr-1711	108	68	is	be	AUX
cblr-1711	108	69	geared	gear	VERB
cblr-1711	108	70	toward	toward	ADP
cblr-1711	108	71	ipos	ipos	NOUN
cblr-1711	108	72	,	,	PUNCT
cblr-1711	108	73	the	the	DET
cblr-1711	108	74	remaining	remain	VERB
cblr-1711	108	75	provisions	provision	NOUN
cblr-1711	108	76	of	of	ADP
cblr-1711	108	77	the	the	DET
cblr-1711	108	78	jobs	job	NOUN
cblr-1711	108	79	act	act	NOUN
cblr-1711	108	80	are	be	AUX
cblr-1711	108	81	“	"	PUNCT
cblr-1711	108	82	devoted	devoted	ADJ
cblr-1711	108	83	to	to	ADP
cblr-1711	108	84	expanding	expand	VERB
cblr-1711	108	85	capitalraising	capitalraise	VERB
cblr-1711	108	86	options	option	NOUN
cblr-1711	108	87	for	for	ADP
cblr-1711	108	88	smaller	small	ADJ
cblr-1711	108	89	,	,	PUNCT
cblr-1711	108	90	private	private	ADJ
cblr-1711	108	91	companies	company	NOUN
cblr-1711	108	92	.	.	PUNCT
cblr-1711	109	1	”54	”54	PROPN
cblr-1711	109	2	title	title	PROPN
cblr-1711	109	3	ii	ii	PROPN
cblr-1711	109	4	:	:	PUNCT
cblr-1711	109	5	access	access	NOUN
cblr-1711	109	6	to	to	ADP
cblr-1711	109	7	capital	capital	NOUN
cblr-1711	109	8	for	for	ADP
cblr-1711	109	9	job	job	NOUN
cblr-1711	109	10	creators	creator	NOUN
cblr-1711	109	11	addresses	address	VERB
cblr-1711	109	12	communication	communication	NOUN
cblr-1711	109	13	barriers	barrier	NOUN
cblr-1711	109	14	,	,	PUNCT
cblr-1711	109	15	costs	cost	NOUN
cblr-1711	109	16	,	,	PUNCT
cblr-1711	109	17	and	and	CCONJ
cblr-1711	109	18	uncertainties	uncertainty	NOUN
cblr-1711	109	19	for	for	ADP
cblr-1711	109	20	companies	company	NOUN
cblr-1711	109	21	wishing	wish	VERB
cblr-1711	109	22	to	to	PART
cblr-1711	109	23	conduct	conduct	VERB
cblr-1711	109	24	private	private	ADJ
cblr-1711	109	25	offerings	offering	NOUN
cblr-1711	109	26	under	under	ADP
cblr-1711	109	27	rule	rule	NOUN
cblr-1711	109	28	506	506	NUM
cblr-1711	109	29	of	of	ADP
cblr-1711	109	30	regulation	regulation	NOUN
cblr-1711	109	31	d	d	NOUN
cblr-1711	109	32	or	or	CCONJ
cblr-1711	109	33	rule	rule	VERB
cblr-1711	109	34	144a.55	144a.55	NUM
cblr-1711	109	35	rule	rule	NOUN
cblr-1711	109	36	506	506	NUM
cblr-1711	109	37	and	and	CCONJ
cblr-1711	109	38	rule	rule	VERB
cblr-1711	109	39	144a	144a	ADJ
cblr-1711	109	40	offerings	offering	NOUN
cblr-1711	109	41	make	make	VERB
cblr-1711	109	42	up	up	ADP
cblr-1711	109	43	the	the	DET
cblr-1711	109	44	majority	majority	NOUN
cblr-1711	109	45	of	of	ADP
cblr-1711	109	46	private	private	ADJ
cblr-1711	109	47	market	market	NOUN
cblr-1711	109	48	offerings	offering	NOUN
cblr-1711	109	49	,	,	PUNCT
cblr-1711	109	50	and	and	CCONJ
cblr-1711	109	51	the	the	DET
cblr-1711	109	52	aggregate	aggregate	ADJ
cblr-1711	109	53	capital	capital	NOUN
cblr-1711	109	54	raised	raise	VERB
cblr-1711	109	55	through	through	ADP
cblr-1711	109	56	these	these	DET
cblr-1711	109	57	two	two	NUM
cblr-1711	109	58	methods	method	NOUN
cblr-1711	109	59	is	be	AUX
cblr-1711	109	60	comparable	comparable	ADJ
cblr-1711	109	61	to	to	ADP
cblr-1711	109	62	,	,	PUNCT
cblr-1711	109	63	if	if	SCONJ
cblr-1711	109	64	not	not	PART
cblr-1711	109	65	greater	great	ADJ
cblr-1711	109	66	than	than	ADP
cblr-1711	109	67	,	,	PUNCT
cblr-1711	109	68	that	that	PRON
cblr-1711	109	69	raised	raise	VERB
cblr-1711	109	70	through	through	ADP
cblr-1711	109	71	the	the	DET
cblr-1711	109	72	public	public	ADJ
cblr-1711	109	73	market.56	market.56	PROPN
cblr-1711	109	74	title	title	PROPN
cblr-1711	109	75	ii	ii	PROPN
cblr-1711	109	76	provides	provide	VERB
cblr-1711	109	77	a	a	DET
cblr-1711	109	78	registration	registration	NOUN
cblr-1711	109	79	exemption	exemption	NOUN
cblr-1711	109	80	for	for	ADP
cblr-1711	109	81	general	general	ADJ
cblr-1711	109	82	solicitation	solicitation	NOUN
cblr-1711	109	83	and	and	CCONJ
cblr-1711	109	84	advertising	advertising	NOUN
cblr-1711	109	85	in	in	ADP
cblr-1711	109	86	securities	security	NOUN
cblr-1711	109	87	transactions	transaction	NOUN
cblr-1711	109	88	under	under	ADP
cblr-1711	109	89	rule	rule	NOUN
cblr-1711	109	90	506	506	NUM
cblr-1711	109	91	and	and	CCONJ
cblr-1711	109	92	rule	rule	VERB
cblr-1711	109	93	144a.57	144a.57	NUM
cblr-1711	109	94	52	52	NUM
cblr-1711	110	1	i	i	PRON
cblr-1711	110	2	d.	d.	PROPN
cblr-1711	110	3	53	53	NUM
cblr-1711	111	1	i	i	PRON
cblr-1711	111	2	d.	d.	PROPN
cblr-1711	111	3	at	at	ADP
cblr-1711	111	4	376–77	376–77	NUM
cblr-1711	111	5	.	.	PUNCT
cblr-1711	112	1	54	54	NUM
cblr-1711	112	2	tom	tom	PROPN
cblr-1711	112	3	zanki	zanki	PROPN
cblr-1711	112	4	,	,	PUNCT
cblr-1711	112	5	jobs	job	NOUN
cblr-1711	112	6	act	act	NOUN
cblr-1711	112	7	shows	show	VERB
cblr-1711	112	8	mixed	mixed	ADJ
cblr-1711	112	9	progress	progress	NOUN
cblr-1711	112	10	at	at	ADP
cblr-1711	112	11	5	5	NUM
cblr-1711	112	12	-	-	PUNCT
cblr-1711	112	13	year	year	NOUN
cblr-1711	112	14	mark	mark	NOUN
cblr-1711	112	15	,	,	PUNCT
cblr-1711	112	16	law360	law360	PROPN
cblr-1711	112	17	(	(	PUNCT
cblr-1711	112	18	apr	apr	PROPN
cblr-1711	112	19	.	.	PROPN
cblr-1711	112	20	6	6	NUM
cblr-1711	112	21	,	,	PUNCT
cblr-1711	112	22	2017	2017	NUM
cblr-1711	112	23	,	,	PUNCT
cblr-1711	112	24	9:05	9:05	NUM
cblr-1711	112	25	pm	pm	NOUN
cblr-1711	112	26	)	)	PUNCT
cblr-1711	112	27	,	,	PUNCT
cblr-1711	112	28	https://www.law360.com/	https://www.law360.com/	PROPN
cblr-1711	112	29	articles/910544	articles/910544	NOUN
cblr-1711	112	30	/	/	SYM
cblr-1711	112	31	jobs	job	NOUN
cblr-1711	112	32	-	-	PUNCT
cblr-1711	112	33	act	act	NOUN
cblr-1711	112	34	-	-	PUNCT
cblr-1711	112	35	shows	show	NOUN
cblr-1711	112	36	-	-	PUNCT
cblr-1711	112	37	mixed	mix	VERB
cblr-1711	112	38	-	-	PUNCT
cblr-1711	112	39	progress	progress	NOUN
cblr-1711	112	40	-	-	PUNCT
cblr-1711	112	41	at-5	at-5	NUM
cblr-1711	112	42	-	-	PUNCT
cblr-1711	112	43	year	year	NOUN
cblr-1711	112	44	-	-	PUNCT
cblr-1711	112	45	mark	mark	NOUN
cblr-1711	112	46	(	(	PUNCT
cblr-1711	112	47	on	on	ADP
cblr-1711	112	48	file	file	NOUN
cblr-1711	112	49	with	with	ADP
cblr-1711	112	50	the	the	DET
cblr-1711	112	51	columbia	columbia	PROPN
cblr-1711	112	52	business	business	PROPN
cblr-1711	112	53	law	law	PROPN
cblr-1711	112	54	review	review	PROPN
cblr-1711	112	55	)	)	PUNCT
cblr-1711	112	56	.	.	PUNCT
cblr-1711	113	1	55	55	NUM
cblr-1711	113	2	see	see	VERB
cblr-1711	113	3	eliminating	eliminate	VERB
cblr-1711	113	4	the	the	DET
cblr-1711	113	5	prohibition	prohibition	NOUN
cblr-1711	113	6	against	against	ADP
cblr-1711	113	7	general	general	ADJ
cblr-1711	113	8	solicitation	solicitation	NOUN
cblr-1711	113	9	and	and	CCONJ
cblr-1711	113	10	general	general	ADJ
cblr-1711	113	11	advertising	advertising	NOUN
cblr-1711	113	12	in	in	ADP
cblr-1711	113	13	rule	rule	NOUN
cblr-1711	113	14	506	506	NUM
cblr-1711	113	15	and	and	CCONJ
cblr-1711	113	16	rule	rule	VERB
cblr-1711	113	17	144a	144a	ADJ
cblr-1711	113	18	offerings	offering	NOUN
cblr-1711	113	19	,	,	PUNCT
cblr-1711	113	20	78	78	NUM
cblr-1711	113	21	fed	feed	VERB
cblr-1711	113	22	.	.	PUNCT
cblr-1711	114	1	reg	reg	PROPN
cblr-1711	114	2	.	.	PROPN
cblr-1711	114	3	44,771	44,771	NUM
cblr-1711	114	4	,	,	PUNCT
cblr-1711	114	5	44,787–88	44,787–88	NUM
cblr-1711	114	6	,	,	PUNCT
cblr-1711	114	7	44,797–98	44,797–98	NUM
cblr-1711	114	8	(	(	PUNCT
cblr-1711	114	9	sept	sept	PROPN
cblr-1711	114	10	.	.	PROPN
cblr-1711	114	11	23	23	NUM
cblr-1711	114	12	,	,	PUNCT
cblr-1711	114	13	2013	2013	NUM
cblr-1711	114	14	)	)	PUNCT
cblr-1711	115	1	(	(	PUNCT
cblr-1711	115	2	to	to	PART
cblr-1711	115	3	be	be	AUX
cblr-1711	115	4	codified	codify	VERB
cblr-1711	115	5	at	at	ADP
cblr-1711	115	6	17	17	NUM
cblr-1711	115	7	c.f.r	c.f.r	NOUN
cblr-1711	115	8	.	.	PUNCT
cblr-1711	116	1	pt	pt	PROPN
cblr-1711	116	2	.	.	PROPN
cblr-1711	116	3	230	230	NUM
cblr-1711	116	4	,	,	PUNCT
cblr-1711	116	5	239	239	NUM
cblr-1711	116	6	,	,	PUNCT
cblr-1711	116	7	242	242	NUM
cblr-1711	116	8	)	)	PUNCT
cblr-1711	116	9	.	.	PUNCT
cblr-1711	117	1	56	56	NUM
cblr-1711	117	2	see	see	VERB
cblr-1711	117	3	scott	scott	PROPN
cblr-1711	117	4	bauguess	bauguess	PROPN
cblr-1711	117	5	,	,	PUNCT
cblr-1711	117	6	rachita	rachita	PROPN
cblr-1711	117	7	gullapalli	gullapalli	PROPN
cblr-1711	117	8	&	&	CCONJ
cblr-1711	117	9	vladimir	vladimir	PROPN
cblr-1711	117	10	ivanov	ivanov	PROPN
cblr-1711	117	11	,	,	PUNCT
cblr-1711	117	12	capital	capital	NOUN
cblr-1711	117	13	raising	raising	NOUN
cblr-1711	117	14	in	in	ADP
cblr-1711	117	15	the	the	DET
cblr-1711	117	16	u.s	u.s	PROPN
cblr-1711	117	17	.	.	PROPN
cblr-1711	117	18	:	:	PUNCT
cblr-1711	117	19	an	an	DET
cblr-1711	117	20	analysis	analysis	NOUN
cblr-1711	117	21	of	of	ADP
cblr-1711	117	22	the	the	DET
cblr-1711	117	23	market	market	NOUN
cblr-1711	117	24	for	for	ADP
cblr-1711	117	25	unregistered	unregistered	ADJ
cblr-1711	117	26	securities	security	NOUN
cblr-1711	117	27	offerings	offering	NOUN
cblr-1711	117	28	,	,	PUNCT
cblr-1711	117	29	2009–2014	2009–2014	NUM
cblr-1711	117	30	,	,	PUNCT
cblr-1711	117	31	7	7	NUM
cblr-1711	117	32	fig.1	fig.1	PROPN
cblr-1711	117	33	(	(	PUNCT
cblr-1711	117	34	2015	2015	NUM
cblr-1711	117	35	)	)	PUNCT
cblr-1711	117	36	;	;	PUNCT
cblr-1711	117	37	see	see	VERB
cblr-1711	117	38	also	also	ADV
cblr-1711	117	39	scott	scott	PROPN
cblr-1711	117	40	,	,	PUNCT
cblr-1711	117	41	supra	supra	PROPN
cblr-1711	117	42	note	note	PROPN
cblr-1711	117	43	13	13	NUM
cblr-1711	117	44	,	,	PUNCT
cblr-1711	117	45	at	at	ADP
cblr-1711	117	46	380	380	NUM
cblr-1711	117	47	(	(	PUNCT
cblr-1711	117	48	“	"	PUNCT
cblr-1711	117	49	the	the	DET
cblr-1711	117	50	importance	importance	NOUN
cblr-1711	117	51	of	of	ADP
cblr-1711	117	52	regulation	regulation	NOUN
cblr-1711	117	53	d	d	NOUN
cblr-1711	117	54	offerings	offering	NOUN
cblr-1711	117	55	is	be	AUX
cblr-1711	117	56	shown	show	VERB
cblr-1711	117	57	by	by	ADP
cblr-1711	117	58	the	the	DET
cblr-1711	117	59	fact	fact	NOUN
cblr-1711	117	60	that	that	SCONJ
cblr-1711	117	61	they	they	PRON
cblr-1711	117	62	are	be	AUX
cblr-1711	117	63	one	one	NUM
cblr-1711	117	64	of	of	ADP
cblr-1711	117	65	the	the	DET
cblr-1711	117	66	most	most	ADJ
cblr-1711	117	67	—	—	PUNCT
cblr-1711	117	68	if	if	SCONJ
cblr-1711	117	69	not	not	PART
cblr-1711	117	70	the	the	DET
cblr-1711	117	71	most	most	ADV
cblr-1711	117	72	—	—	PUNCT
cblr-1711	117	73	often	often	ADV
cblr-1711	117	74	used	use	VERB
cblr-1711	117	75	offering	offer	VERB
cblr-1711	117	76	vehicles	vehicle	NOUN
cblr-1711	117	77	.	.	PUNCT
cblr-1711	118	1	within	within	ADP
cblr-1711	118	2	the	the	DET
cblr-1711	118	3	regulation	regulation	NOUN
cblr-1711	118	4	d	d	NOUN
cblr-1711	118	5	exemptions	exemption	NOUN
cblr-1711	118	6	,	,	PUNCT
cblr-1711	118	7	rule	rule	NOUN
cblr-1711	118	8	506	506	NUM
cblr-1711	118	9	is	be	AUX
cblr-1711	118	10	the	the	DET
cblr-1711	118	11	most	most	ADV
cblr-1711	118	12	prevalent	prevalent	ADJ
cblr-1711	118	13	.	.	PUNCT
cblr-1711	118	14	.	.	PUNCT
cblr-1711	118	15	.	.	PUNCT
cblr-1711	118	16	.	.	PUNCT
cblr-1711	119	1	the	the	DET
cblr-1711	119	2	rule	rule	NOUN
cblr-1711	119	3	144a	144a	ADJ
cblr-1711	119	4	market	market	NOUN
cblr-1711	119	5	also	also	ADV
cblr-1711	119	6	plays	play	VERB
cblr-1711	119	7	a	a	DET
cblr-1711	119	8	key	key	ADJ
cblr-1711	119	9	role	role	NOUN
cblr-1711	119	10	in	in	ADP
cblr-1711	119	11	capital	capital	NOUN
cblr-1711	119	12	formation	formation	NOUN
cblr-1711	119	13	.	.	PUNCT
cblr-1711	119	14	”	"	PUNCT
cblr-1711	119	15	)	)	PUNCT
cblr-1711	119	16	.	.	PUNCT
cblr-1711	120	1	57	57	NUM
cblr-1711	120	2	eliminating	eliminate	VERB
cblr-1711	120	3	the	the	DET
cblr-1711	120	4	prohibition	prohibition	NOUN
cblr-1711	120	5	against	against	ADP
cblr-1711	120	6	general	general	ADJ
cblr-1711	120	7	solicitation	solicitation	NOUN
cblr-1711	120	8	and	and	CCONJ
cblr-1711	120	9	general	general	ADJ
cblr-1711	120	10	advertising	advertising	NOUN
cblr-1711	120	11	in	in	ADP
cblr-1711	120	12	rule	rule	NOUN
cblr-1711	120	13	506	506	NUM
cblr-1711	120	14	and	and	CCONJ
cblr-1711	120	15	rule	rule	VERB
cblr-1711	120	16	144a	144a	ADJ
cblr-1711	120	17	offerings	offering	NOUN
cblr-1711	120	18	,	,	PUNCT
cblr-1711	120	19	78	78	NUM
cblr-1711	120	20	fed	feed	VERB
cblr-1711	120	21	.	.	PUNCT
cblr-1711	121	1	reg	reg	PROPN
cblr-1711	121	2	.	.	PUNCT
cblr-1711	122	1	at	at	ADP
cblr-1711	122	2	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	122	3	no	no	NOUN
cblr-1711	122	4	.	.	PUNCT
cblr-1711	122	5	3:1060	3:1060	NUM
cblr-1711	122	6	]	]	X
cblr-1711	122	7	biotech	biotech	ADJ
cblr-1711	122	8	crowdfunding	crowdfunding	NOUN
cblr-1711	122	9	1071	1071	NUM
cblr-1711	122	10	as	as	SCONJ
cblr-1711	122	11	described	describe	VERB
cblr-1711	122	12	previously	previously	ADV
cblr-1711	122	13	,	,	PUNCT
cblr-1711	122	14	title	title	NOUN
cblr-1711	122	15	iii	iii	PROPN
cblr-1711	122	16	:	:	PUNCT
cblr-1711	122	17	crowdfunding	crowdfunding	NOUN
cblr-1711	122	18	allows	allow	VERB
cblr-1711	122	19	businesses	business	NOUN
cblr-1711	122	20	to	to	PART
cblr-1711	122	21	use	use	VERB
cblr-1711	122	22	the	the	DET
cblr-1711	122	23	internet	internet	NOUN
cblr-1711	122	24	and	and	CCONJ
cblr-1711	122	25	social	social	ADJ
cblr-1711	122	26	media	medium	NOUN
cblr-1711	122	27	to	to	PART
cblr-1711	122	28	sell	sell	VERB
cblr-1711	122	29	securities	security	NOUN
cblr-1711	122	30	to	to	ADP
cblr-1711	122	31	a	a	DET
cblr-1711	122	32	large	large	ADJ
cblr-1711	122	33	number	number	NOUN
cblr-1711	122	34	of	of	ADP
cblr-1711	122	35	people	people	NOUN
cblr-1711	122	36	in	in	ADP
cblr-1711	122	37	relatively	relatively	ADV
cblr-1711	122	38	small	small	ADJ
cblr-1711	122	39	amounts.58	amounts.58	NOUN
cblr-1711	122	40	these	these	DET
cblr-1711	122	41	equity	equity	NOUN
cblr-1711	122	42	crowdfunding	crowdfunding	NOUN
cblr-1711	122	43	offerings	offering	NOUN
cblr-1711	122	44	provide	provide	VERB
cblr-1711	122	45	individual	individual	ADJ
cblr-1711	122	46	investors	investor	NOUN
cblr-1711	122	47	with	with	ADP
cblr-1711	122	48	a	a	DET
cblr-1711	122	49	share	share	NOUN
cblr-1711	122	50	of	of	ADP
cblr-1711	122	51	the	the	DET
cblr-1711	122	52	company	company	NOUN
cblr-1711	122	53	’s	’s	PART
cblr-1711	122	54	potential	potential	ADJ
cblr-1711	122	55	financial	financial	ADJ
cblr-1711	122	56	returns	return	NOUN
cblr-1711	122	57	or	or	CCONJ
cblr-1711	122	58	profits	profit	NOUN
cblr-1711	122	59	,	,	PUNCT
cblr-1711	122	60	and	and	CCONJ
cblr-1711	122	61	the	the	DET
cblr-1711	122	62	offerings	offering	NOUN
cblr-1711	122	63	must	must	AUX
cblr-1711	122	64	fall	fall	VERB
cblr-1711	122	65	within	within	ADP
cblr-1711	122	66	the	the	DET
cblr-1711	122	67	exemption	exemption	NOUN
cblr-1711	122	68	created	create	VERB
cblr-1711	122	69	by	by	ADP
cblr-1711	122	70	the	the	DET
cblr-1711	122	71	jobs	job	NOUN
cblr-1711	122	72	act	act	VERB
cblr-1711	122	73	in	in	ADP
cblr-1711	122	74	order	order	NOUN
cblr-1711	122	75	to	to	PART
cblr-1711	122	76	avoid	avoid	VERB
cblr-1711	122	77	registration	registration	NOUN
cblr-1711	122	78	with	with	ADP
cblr-1711	122	79	the	the	DET
cblr-1711	122	80	sec.59	sec.59	PROPN
cblr-1711	122	81	title	title	NOUN
cblr-1711	122	82	iii	iii	NOUN
cblr-1711	122	83	adds	add	VERB
cblr-1711	122	84	sections	section	NOUN
cblr-1711	122	85	4(6	4(6	NUM
cblr-1711	122	86	)	)	PUNCT
cblr-1711	122	87	and	and	CCONJ
cblr-1711	122	88	4a	4a	NUM
cblr-1711	122	89	to	to	ADP
cblr-1711	122	90	the	the	DET
cblr-1711	122	91	securities	security	NOUN
cblr-1711	122	92	act	act	NOUN
cblr-1711	122	93	and	and	CCONJ
cblr-1711	122	94	exempts	exempt	VERB
cblr-1711	122	95	transactions	transaction	NOUN
cblr-1711	122	96	involving	involve	VERB
cblr-1711	122	97	the	the	DET
cblr-1711	122	98	offer	offer	NOUN
cblr-1711	122	99	or	or	CCONJ
cblr-1711	122	100	sale	sale	NOUN
cblr-1711	122	101	of	of	ADP
cblr-1711	122	102	securities	security	NOUN
cblr-1711	122	103	by	by	ADP
cblr-1711	122	104	an	an	DET
cblr-1711	122	105	issuer	issuer	NOUN
cblr-1711	122	106	if	if	SCONJ
cblr-1711	122	107	:	:	PUNCT
cblr-1711	122	108	(	(	PUNCT
cblr-1711	122	109	1	1	X
cblr-1711	122	110	)	)	PUNCT
cblr-1711	122	111	the	the	DET
cblr-1711	122	112	total	total	ADJ
cblr-1711	122	113	amount	amount	NOUN
cblr-1711	122	114	sold	sell	VERB
cblr-1711	122	115	to	to	ADP
cblr-1711	122	116	all	all	DET
cblr-1711	122	117	investors	investor	NOUN
cblr-1711	122	118	during	during	ADP
cblr-1711	122	119	the	the	DET
cblr-1711	122	120	preceding	precede	VERB
cblr-1711	122	121	twelve	twelve	NUM
cblr-1711	122	122	months	month	NOUN
cblr-1711	122	123	does	do	AUX
cblr-1711	122	124	not	not	PART
cblr-1711	122	125	exceed	exceed	VERB
cblr-1711	122	126	$	$	SYM
cblr-1711	122	127	1	1	NUM
cblr-1711	122	128	million	million	NUM
cblr-1711	122	129	;	;	PUNCT
cblr-1711	122	130	(	(	PUNCT
cblr-1711	122	131	2	2	X
cblr-1711	122	132	)	)	PUNCT
cblr-1711	122	133	the	the	DET
cblr-1711	122	134	total	total	ADJ
cblr-1711	122	135	amount	amount	NOUN
cblr-1711	122	136	sold	sell	VERB
cblr-1711	122	137	to	to	ADP
cblr-1711	122	138	any	any	DET
cblr-1711	122	139	single	single	ADJ
cblr-1711	122	140	investor	investor	NOUN
cblr-1711	122	141	during	during	ADP
cblr-1711	122	142	the	the	DET
cblr-1711	122	143	preceding	precede	VERB
cblr-1711	122	144	twelve	twelve	NUM
cblr-1711	122	145	months	month	NOUN
cblr-1711	122	146	does	do	AUX
cblr-1711	122	147	not	not	PART
cblr-1711	122	148	exceed	exceed	VERB
cblr-1711	122	149	(	(	PUNCT
cblr-1711	122	150	a	a	X
cblr-1711	122	151	)	)	PUNCT
cblr-1711	122	152	the	the	PRON
cblr-1711	122	153	greater	great	ADJ
cblr-1711	122	154	of	of	ADP
cblr-1711	122	155	$	$	SYM
cblr-1711	122	156	2000	2000	NUM
cblr-1711	122	157	or	or	CCONJ
cblr-1711	122	158	five	five	NUM
cblr-1711	122	159	percent	percent	NOUN
cblr-1711	122	160	of	of	ADP
cblr-1711	122	161	the	the	DET
cblr-1711	122	162	annual	annual	ADJ
cblr-1711	122	163	income	income	NOUN
cblr-1711	122	164	or	or	CCONJ
cblr-1711	122	165	net	net	ADJ
cblr-1711	122	166	worth	worth	NOUN
cblr-1711	122	167	of	of	ADP
cblr-1711	122	168	the	the	DET
cblr-1711	122	169	investor	investor	NOUN
cblr-1711	122	170	if	if	SCONJ
cblr-1711	122	171	the	the	DET
cblr-1711	122	172	annual	annual	ADJ
cblr-1711	122	173	income	income	NOUN
cblr-1711	122	174	or	or	CCONJ
cblr-1711	122	175	net	net	ADJ
cblr-1711	122	176	worth	worth	NOUN
cblr-1711	122	177	of	of	ADP
cblr-1711	122	178	the	the	DET
cblr-1711	122	179	investor	investor	NOUN
cblr-1711	122	180	is	be	AUX
cblr-1711	122	181	below	below	ADP
cblr-1711	122	182	$	$	SYM
cblr-1711	122	183	100,000	100,000	NUM
cblr-1711	122	184	,	,	PUNCT
cblr-1711	122	185	or	or	CCONJ
cblr-1711	122	186	(	(	PUNCT
cblr-1711	122	187	b	b	NOUN
cblr-1711	122	188	)	)	PUNCT
cblr-1711	122	189	ten	ten	NUM
cblr-1711	122	190	percent	percent	NOUN
cblr-1711	122	191	of	of	ADP
cblr-1711	122	192	the	the	DET
cblr-1711	122	193	annual	annual	ADJ
cblr-1711	122	194	income	income	NOUN
cblr-1711	122	195	or	or	CCONJ
cblr-1711	122	196	net	net	ADJ
cblr-1711	122	197	worth	worth	NOUN
cblr-1711	122	198	of	of	ADP
cblr-1711	122	199	the	the	DET
cblr-1711	122	200	investor	investor	NOUN
cblr-1711	122	201	if	if	SCONJ
cblr-1711	122	202	the	the	DET
cblr-1711	122	203	annual	annual	ADJ
cblr-1711	122	204	income	income	NOUN
cblr-1711	122	205	or	or	CCONJ
cblr-1711	122	206	net	net	ADJ
cblr-1711	122	207	worth	worth	NOUN
cblr-1711	122	208	of	of	ADP
cblr-1711	122	209	the	the	DET
cblr-1711	122	210	investor	investor	NOUN
cblr-1711	122	211	is	be	AUX
cblr-1711	122	212	$	$	SYM
cblr-1711	122	213	100,000	100,000	NUM
cblr-1711	122	214	,	,	PUNCT
cblr-1711	122	215	up	up	ADP
cblr-1711	122	216	to	to	ADP
cblr-1711	122	217	a	a	DET
cblr-1711	122	218	maximum	maximum	ADJ
cblr-1711	122	219	aggregate	aggregate	NOUN
cblr-1711	122	220	amount	amount	NOUN
cblr-1711	122	221	sold	sell	VERB
cblr-1711	122	222	of	of	ADP
cblr-1711	122	223	$	$	SYM
cblr-1711	122	224	100,000	100,000	NUM
cblr-1711	122	225	;	;	PUNCT
cblr-1711	122	226	(	(	PUNCT
cblr-1711	122	227	3	3	X
cblr-1711	122	228	)	)	PUNCT
cblr-1711	122	229	the	the	DET
cblr-1711	122	230	transaction	transaction	NOUN
cblr-1711	122	231	is	be	AUX
cblr-1711	122	232	conducted	conduct	VERB
cblr-1711	122	233	through	through	ADP
cblr-1711	122	234	a	a	DET
cblr-1711	122	235	broker	broker	NOUN
cblr-1711	122	236	or	or	CCONJ
cblr-1711	122	237	compliant	compliant	ADJ
cblr-1711	122	238	44,773–74	44,773–74	NUM
cblr-1711	122	239	;	;	PUNCT
cblr-1711	122	240	see	see	VERB
cblr-1711	122	241	also	also	ADV
cblr-1711	122	242	scott	scott	PROPN
cblr-1711	122	243	,	,	PUNCT
cblr-1711	122	244	supra	supra	PROPN
cblr-1711	122	245	note	note	PROPN
cblr-1711	122	246	13	13	NUM
cblr-1711	122	247	,	,	PUNCT
cblr-1711	122	248	at	at	ADP
cblr-1711	122	249	377–80	377–80	PROPN
cblr-1711	122	250	.	.	PUNCT
cblr-1711	123	1	rule	rule	NOUN
cblr-1711	123	2	506	506	NUM
cblr-1711	123	3	provides	provide	VERB
cblr-1711	123	4	a	a	DET
cblr-1711	123	5	registration	registration	NOUN
cblr-1711	123	6	exemption	exemption	NOUN
cblr-1711	123	7	for	for	ADP
cblr-1711	123	8	offerings	offering	NOUN
cblr-1711	123	9	by	by	ADP
cblr-1711	123	10	an	an	DET
cblr-1711	123	11	issuer	issuer	NOUN
cblr-1711	123	12	“	"	PUNCT
cblr-1711	123	13	not	not	PART
cblr-1711	123	14	involving	involve	VERB
cblr-1711	123	15	any	any	DET
cblr-1711	123	16	public	public	ADJ
cblr-1711	123	17	offering	offering	NOUN
cblr-1711	123	18	”	"	PUNCT
cblr-1711	123	19	from	from	ADP
cblr-1711	123	20	registration	registration	NOUN
cblr-1711	123	21	under	under	ADP
cblr-1711	123	22	section	section	NOUN
cblr-1711	123	23	4(a)(2	4(a)(2	NUM
cblr-1711	123	24	)	)	PUNCT
cblr-1711	123	25	of	of	ADP
cblr-1711	123	26	the	the	DET
cblr-1711	123	27	securities	security	NOUN
cblr-1711	123	28	act	act	PROPN
cblr-1711	123	29	,	,	PUNCT
cblr-1711	123	30	with	with	ADP
cblr-1711	123	31	no	no	DET
cblr-1711	123	32	limit	limit	NOUN
cblr-1711	123	33	on	on	ADP
cblr-1711	123	34	the	the	DET
cblr-1711	123	35	dollar	dollar	NOUN
cblr-1711	123	36	amount	amount	NOUN
cblr-1711	123	37	of	of	ADP
cblr-1711	123	38	securities	security	NOUN
cblr-1711	123	39	.	.	PUNCT
cblr-1711	124	1	eliminating	eliminate	VERB
cblr-1711	124	2	the	the	DET
cblr-1711	124	3	prohibition	prohibition	NOUN
cblr-1711	124	4	against	against	ADP
cblr-1711	124	5	general	general	ADJ
cblr-1711	124	6	solicitation	solicitation	NOUN
cblr-1711	124	7	and	and	CCONJ
cblr-1711	124	8	general	general	ADJ
cblr-1711	124	9	advertising	advertising	NOUN
cblr-1711	124	10	in	in	ADP
cblr-1711	124	11	rule	rule	NOUN
cblr-1711	124	12	506	506	NUM
cblr-1711	124	13	and	and	CCONJ
cblr-1711	124	14	rule	rule	VERB
cblr-1711	124	15	144a	144a	ADJ
cblr-1711	124	16	offerings	offering	NOUN
cblr-1711	124	17	,	,	PUNCT
cblr-1711	124	18	78	78	NUM
cblr-1711	124	19	fed	feed	VERB
cblr-1711	124	20	.	.	PUNCT
cblr-1711	125	1	reg	reg	PROPN
cblr-1711	125	2	.	.	PUNCT
cblr-1711	126	1	at	at	ADP
cblr-1711	126	2	44,772–73	44,772–73	PROPN
cblr-1711	126	3	.	.	PUNCT
cblr-1711	127	1	section	section	PROPN
cblr-1711	127	2	201(a)(1	201(a)(1	NUM
cblr-1711	127	3	)	)	PUNCT
cblr-1711	127	4	of	of	ADP
cblr-1711	127	5	the	the	DET
cblr-1711	127	6	jobs	job	NOUN
cblr-1711	127	7	act	act	NOUN
cblr-1711	127	8	removes	remove	VERB
cblr-1711	127	9	the	the	DET
cblr-1711	127	10	prohibition	prohibition	NOUN
cblr-1711	127	11	on	on	ADP
cblr-1711	127	12	general	general	ADJ
cblr-1711	127	13	solicitation	solicitation	NOUN
cblr-1711	127	14	and	and	CCONJ
cblr-1711	127	15	advertising	advertising	NOUN
cblr-1711	127	16	in	in	ADP
cblr-1711	127	17	transactions	transaction	NOUN
cblr-1711	127	18	under	under	ADP
cblr-1711	127	19	rule	rule	NOUN
cblr-1711	127	20	506	506	NUM
cblr-1711	127	21	,	,	PUNCT
cblr-1711	127	22	provided	provide	VERB
cblr-1711	127	23	that	that	SCONJ
cblr-1711	127	24	the	the	DET
cblr-1711	127	25	purchasers	purchaser	NOUN
cblr-1711	127	26	are	be	AUX
cblr-1711	127	27	accredited	accredit	VERB
cblr-1711	127	28	investors	investor	NOUN
cblr-1711	127	29	and	and	CCONJ
cblr-1711	127	30	that	that	SCONJ
cblr-1711	127	31	the	the	DET
cblr-1711	127	32	issuers	issuer	NOUN
cblr-1711	127	33	take	take	VERB
cblr-1711	127	34	reasonable	reasonable	ADJ
cblr-1711	127	35	steps	step	NOUN
cblr-1711	127	36	to	to	PART
cblr-1711	127	37	verify	verify	VERB
cblr-1711	127	38	that	that	SCONJ
cblr-1711	127	39	they	they	PRON
cblr-1711	127	40	are	be	AUX
cblr-1711	127	41	.	.	PUNCT
cblr-1711	128	1	i	i	PRON
cblr-1711	128	2	d.	d.	PROPN
cblr-1711	128	3	at	at	ADP
cblr-1711	128	4	44,773	44,773	NUM
cblr-1711	128	5	.	.	PUNCT
cblr-1711	129	1	rule	rule	VERB
cblr-1711	129	2	144a	144a	PROPN
cblr-1711	129	3	previously	previously	ADV
cblr-1711	129	4	only	only	ADV
cblr-1711	129	5	provided	provide	VERB
cblr-1711	129	6	a	a	DET
cblr-1711	129	7	registration	registration	NOUN
cblr-1711	129	8	exemption	exemption	NOUN
cblr-1711	129	9	for	for	ADP
cblr-1711	129	10	securities	security	NOUN
cblr-1711	129	11	offered	offer	VERB
cblr-1711	129	12	to	to	PART
cblr-1711	129	13	actual	actual	ADJ
cblr-1711	129	14	qualified	qualified	ADJ
cblr-1711	129	15	institutional	institutional	ADJ
cblr-1711	129	16	buyers	buyer	NOUN
cblr-1711	129	17	under	under	ADP
cblr-1711	129	18	section	section	NOUN
cblr-1711	129	19	4(a)(1	4(a)(1	NUM
cblr-1711	129	20	)	)	PUNCT
cblr-1711	129	21	of	of	ADP
cblr-1711	129	22	the	the	DET
cblr-1711	129	23	securities	security	NOUN
cblr-1711	129	24	act	act	PROPN
cblr-1711	129	25	.	.	PUNCT
cblr-1711	130	1	i	i	PRON
cblr-1711	130	2	d.	d.	PROPN
cblr-1711	130	3	section	section	PROPN
cblr-1711	130	4	201(a)(2	201(a)(2	NOUN
cblr-1711	130	5	)	)	PUNCT
cblr-1711	130	6	of	of	ADP
cblr-1711	130	7	the	the	DET
cblr-1711	130	8	jobs	job	NOUN
cblr-1711	130	9	act	act	VERB
cblr-1711	130	10	amended	amend	VERB
cblr-1711	130	11	rule	rule	NOUN
cblr-1711	130	12	144a	144a	NUM
cblr-1711	130	13	by	by	ADP
cblr-1711	130	14	providing	provide	VERB
cblr-1711	130	15	a	a	DET
cblr-1711	130	16	registration	registration	NOUN
cblr-1711	130	17	exemption	exemption	NOUN
cblr-1711	130	18	for	for	ADP
cblr-1711	130	19	securities	security	NOUN
cblr-1711	130	20	sold	sell	VERB
cblr-1711	130	21	,	,	PUNCT
cblr-1711	130	22	including	include	VERB
cblr-1711	130	23	through	through	ADP
cblr-1711	130	24	general	general	ADJ
cblr-1711	130	25	solicitation	solicitation	NOUN
cblr-1711	130	26	and	and	CCONJ
cblr-1711	130	27	advertising	advertising	NOUN
cblr-1711	130	28	,	,	PUNCT
cblr-1711	130	29	to	to	ADP
cblr-1711	130	30	all	all	DET
cblr-1711	130	31	purchasers	purchaser	NOUN
cblr-1711	130	32	who	who	PRON
cblr-1711	130	33	the	the	DET
cblr-1711	130	34	seller	seller	NOUN
cblr-1711	130	35	reasonably	reasonably	ADV
cblr-1711	130	36	believes	believe	VERB
cblr-1711	130	37	to	to	PART
cblr-1711	130	38	be	be	AUX
cblr-1711	130	39	qualified	qualified	ADJ
cblr-1711	130	40	institutional	institutional	ADJ
cblr-1711	130	41	buyers	buyer	NOUN
cblr-1711	130	42	.	.	PUNCT
cblr-1711	131	1	i	i	PRON
cblr-1711	131	2	d.	d.	PROPN
cblr-1711	131	3	at	at	ADP
cblr-1711	131	4	44,773–74	44,773–74	PROPN
cblr-1711	131	5	.	.	PUNCT
cblr-1711	132	1	58	58	NUM
cblr-1711	132	2	crowdfunding	crowdfunding	NOUN
cblr-1711	132	3	,	,	PUNCT
cblr-1711	132	4	80	80	NUM
cblr-1711	132	5	fed	feed	VERB
cblr-1711	132	6	.	.	PUNCT
cblr-1711	133	1	reg	reg	PROPN
cblr-1711	133	2	.	.	PROPN
cblr-1711	133	3	71,387	71,387	NUM
cblr-1711	133	4	,	,	PUNCT
cblr-1711	133	5	71,388	71,388	NUM
cblr-1711	133	6	(	(	PUNCT
cblr-1711	133	7	may	may	PROPN
cblr-1711	133	8	16	16	NUM
cblr-1711	133	9	,	,	PUNCT
cblr-1711	133	10	2015	2015	NUM
cblr-1711	133	11	)	)	PUNCT
cblr-1711	133	12	(	(	PUNCT
cblr-1711	133	13	to	to	PART
cblr-1711	133	14	be	be	AUX
cblr-1711	133	15	codified	codify	VERB
cblr-1711	133	16	at	at	ADP
cblr-1711	133	17	17	17	NUM
cblr-1711	133	18	c.f.r	c.f.r	NOUN
cblr-1711	133	19	.	.	PUNCT
cblr-1711	134	1	pt	pt	PROPN
cblr-1711	134	2	.	.	PROPN
cblr-1711	134	3	200	200	NUM
cblr-1711	134	4	,	,	PUNCT
cblr-1711	134	5	227	227	NUM
cblr-1711	134	6	,	,	PUNCT
cblr-1711	134	7	232	232	NUM
cblr-1711	134	8	,	,	PUNCT
cblr-1711	134	9	239	239	NUM
cblr-1711	134	10	,	,	PUNCT
cblr-1711	134	11	240	240	NUM
cblr-1711	134	12	,	,	PUNCT
cblr-1711	134	13	249	249	NUM
cblr-1711	134	14	,	,	PUNCT
cblr-1711	134	15	269	269	NUM
cblr-1711	134	16	,	,	PUNCT
cblr-1711	134	17	274	274	NUM
cblr-1711	134	18	)	)	PUNCT
cblr-1711	134	19	.	.	PUNCT
cblr-1711	135	1	59	59	NUM
cblr-1711	136	1	i	i	PRON
cblr-1711	136	2	d.	d.	PROPN
cblr-1711	136	3	at	at	ADP
cblr-1711	136	4	71,389	71,389	NUM
cblr-1711	136	5	.	.	PUNCT
cblr-1711	137	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	137	2	1072	1072	NUM
cblr-1711	137	3	columbia	columbia	PROPN
cblr-1711	137	4	business	business	NOUN
cblr-1711	137	5	law	law	PROPN
cblr-1711	137	6	review	review	NOUN
cblr-1711	137	7	[	[	X
cblr-1711	137	8	vol	vol	NOUN
cblr-1711	137	9	.	.	NOUN
cblr-1711	137	10	2018	2018	NUM
cblr-1711	137	11	funding	funding	NOUN
cblr-1711	137	12	portal	portal	NOUN
cblr-1711	137	13	;	;	PUNCT
cblr-1711	137	14	and	and	CCONJ
cblr-1711	137	15	(	(	PUNCT
cblr-1711	137	16	4	4	X
cblr-1711	137	17	)	)	PUNCT
cblr-1711	137	18	the	the	DET
cblr-1711	137	19	issuer	issuer	NOUN
cblr-1711	137	20	complies	comply	VERB
cblr-1711	137	21	with	with	ADP
cblr-1711	137	22	disclosure	disclosure	NOUN
cblr-1711	137	23	and	and	CCONJ
cblr-1711	137	24	other	other	ADJ
cblr-1711	137	25	requirements.60	requirements.60	NOUN
cblr-1711	137	26	the	the	DET
cblr-1711	137	27	exemption	exemption	NOUN
cblr-1711	137	28	requires	require	VERB
cblr-1711	137	29	a	a	DET
cblr-1711	137	30	number	number	NOUN
cblr-1711	137	31	of	of	ADP
cblr-1711	137	32	disclosures	disclosure	NOUN
cblr-1711	137	33	to	to	PART
cblr-1711	137	34	be	be	AUX
cblr-1711	137	35	filed	file	VERB
cblr-1711	137	36	with	with	ADP
cblr-1711	137	37	the	the	DET
cblr-1711	137	38	sec	sec	PROPN
cblr-1711	137	39	,	,	PUNCT
cblr-1711	137	40	provided	provide	VERB
cblr-1711	137	41	to	to	ADP
cblr-1711	137	42	investors	investor	NOUN
cblr-1711	137	43	and	and	CCONJ
cblr-1711	137	44	the	the	DET
cblr-1711	137	45	intermediary	intermediary	ADJ
cblr-1711	137	46	broker	broker	NOUN
cblr-1711	137	47	or	or	CCONJ
cblr-1711	137	48	funding	funding	NOUN
cblr-1711	137	49	portal	portal	NOUN
cblr-1711	137	50	,	,	PUNCT
cblr-1711	137	51	and	and	CCONJ
cblr-1711	137	52	made	make	VERB
cblr-1711	137	53	available	available	ADJ
cblr-1711	137	54	to	to	ADP
cblr-1711	137	55	potential	potential	ADJ
cblr-1711	137	56	investors.61	investors.61	NOUN
cblr-1711	137	57	the	the	DET
cblr-1711	137	58	disclosures	disclosure	NOUN
cblr-1711	137	59	include	include	VERB
cblr-1711	137	60	the	the	DET
cblr-1711	137	61	issuer	issuer	NOUN
cblr-1711	137	62	’s	’s	PART
cblr-1711	137	63	name	name	NOUN
cblr-1711	137	64	,	,	PUNCT
cblr-1711	137	65	legal	legal	ADJ
cblr-1711	137	66	status	status	NOUN
cblr-1711	137	67	,	,	PUNCT
cblr-1711	137	68	and	and	CCONJ
cblr-1711	137	69	physical	physical	ADJ
cblr-1711	137	70	and	and	CCONJ
cblr-1711	137	71	website	website	NOUN
cblr-1711	137	72	addresses	address	NOUN
cblr-1711	137	73	,	,	PUNCT
cblr-1711	137	74	as	as	ADV
cblr-1711	137	75	well	well	ADV
cblr-1711	137	76	as	as	ADP
cblr-1711	137	77	the	the	DET
cblr-1711	137	78	names	name	NOUN
cblr-1711	137	79	of	of	ADP
cblr-1711	137	80	the	the	DET
cblr-1711	137	81	issuer	issuer	NOUN
cblr-1711	137	82	’s	’s	PART
cblr-1711	137	83	directors	director	NOUN
cblr-1711	137	84	,	,	PUNCT
cblr-1711	137	85	officers	officer	NOUN
cblr-1711	137	86	,	,	PUNCT
cblr-1711	137	87	and	and	CCONJ
cblr-1711	137	88	stockholders	stockholder	NOUN
cblr-1711	137	89	holding	hold	VERB
cblr-1711	137	90	twenty	twenty	NUM
cblr-1711	137	91	percent	percent	NOUN
cblr-1711	137	92	or	or	CCONJ
cblr-1711	137	93	more	more	ADJ
cblr-1711	137	94	of	of	ADP
cblr-1711	137	95	the	the	DET
cblr-1711	137	96	issuer	issuer	NOUN
cblr-1711	137	97	’s	’s	PART
cblr-1711	137	98	securities.62	securities.62	VERB
cblr-1711	137	99	the	the	DET
cblr-1711	137	100	issuer	issuer	NOUN
cblr-1711	137	101	must	must	AUX
cblr-1711	137	102	describe	describe	VERB
cblr-1711	137	103	its	its	PRON
cblr-1711	137	104	business	business	NOUN
cblr-1711	137	105	plan	plan	NOUN
cblr-1711	137	106	,	,	PUNCT
cblr-1711	137	107	financial	financial	ADJ
cblr-1711	137	108	condition	condition	NOUN
cblr-1711	137	109	,	,	PUNCT
cblr-1711	137	110	intended	intend	VERB
cblr-1711	137	111	use	use	NOUN
cblr-1711	137	112	of	of	ADP
cblr-1711	137	113	proceeds	proceed	NOUN
cblr-1711	137	114	,	,	PUNCT
cblr-1711	137	115	target	target	NOUN
cblr-1711	137	116	offering	offering	NOUN
cblr-1711	137	117	amount	amount	NOUN
cblr-1711	137	118	and	and	CCONJ
cblr-1711	137	119	deadline	deadline	NOUN
cblr-1711	137	120	,	,	PUNCT
cblr-1711	137	121	updates	update	VERB
cblr-1711	137	122	to	to	ADP
cblr-1711	137	123	reaching	reach	VERB
cblr-1711	137	124	the	the	DET
cblr-1711	137	125	target	target	NOUN
cblr-1711	137	126	amount	amount	NOUN
cblr-1711	137	127	,	,	PUNCT
cblr-1711	137	128	price	price	NOUN
cblr-1711	137	129	or	or	CCONJ
cblr-1711	137	130	method	method	NOUN
cblr-1711	137	131	of	of	ADP
cblr-1711	137	132	determining	determine	VERB
cblr-1711	137	133	price	price	NOUN
cblr-1711	137	134	,	,	PUNCT
cblr-1711	137	135	and	and	CCONJ
cblr-1711	137	136	ownership	ownership	NOUN
cblr-1711	137	137	and	and	CCONJ
cblr-1711	137	138	capital	capital	NOUN
cblr-1711	137	139	structure.63	structure.63	PROPN
cblr-1711	137	140	furthermore	furthermore	ADV
cblr-1711	137	141	,	,	PUNCT
cblr-1711	137	142	the	the	DET
cblr-1711	137	143	issuer	issuer	NOUN
cblr-1711	137	144	must	must	AUX
cblr-1711	137	145	report	report	VERB
cblr-1711	137	146	its	its	PRON
cblr-1711	137	147	financial	financial	ADJ
cblr-1711	137	148	statements	statement	NOUN
cblr-1711	137	149	and	and	CCONJ
cblr-1711	137	150	operation	operation	NOUN
cblr-1711	137	151	results	result	NOUN
cblr-1711	137	152	at	at	ADP
cblr-1711	137	153	least	least	ADJ
cblr-1711	137	154	once	once	ADV
cblr-1711	137	155	per	per	ADP
cblr-1711	137	156	year	year	NOUN
cblr-1711	137	157	to	to	ADP
cblr-1711	137	158	the	the	DET
cblr-1711	137	159	sec	sec	PROPN
cblr-1711	137	160	and	and	CCONJ
cblr-1711	137	161	investors.64	investors.64	NOUN
cblr-1711	137	162	the	the	DET
cblr-1711	137	163	crowdfunding	crowdfunding	NOUN
cblr-1711	137	164	provision	provision	NOUN
cblr-1711	137	165	restricts	restrict	VERB
cblr-1711	137	166	which	which	DET
cblr-1711	137	167	types	type	NOUN
cblr-1711	137	168	of	of	ADP
cblr-1711	137	169	issuers	issuer	NOUN
cblr-1711	137	170	can	can	AUX
cblr-1711	137	171	benefit	benefit	VERB
cblr-1711	137	172	from	from	ADP
cblr-1711	137	173	the	the	DET
cblr-1711	137	174	registration	registration	NOUN
cblr-1711	137	175	exemption	exemption	NOUN
cblr-1711	137	176	—	—	PUNCT
cblr-1711	137	177	it	it	PRON
cblr-1711	137	178	excludes	exclude	VERB
cblr-1711	137	179	non	non	ADJ
cblr-1711	137	180	-	-	ADJ
cblr-1711	137	181	u.s	u.s	PROPN
cblr-1711	137	182	.	.	PROPN
cblr-1711	137	183	issuers	issuer	NOUN
cblr-1711	137	184	,	,	PUNCT
cblr-1711	137	185	reporting	report	VERB
cblr-1711	137	186	companies	company	NOUN
cblr-1711	137	187	,	,	PUNCT
cblr-1711	137	188	and	and	CCONJ
cblr-1711	137	189	investment	investment	NOUN
cblr-1711	137	190	companies.65	companies.65	NOUN
cblr-1711	137	191	the	the	DET
cblr-1711	137	192	sec	sec	PROPN
cblr-1711	137	193	can	can	AUX
cblr-1711	137	194	also	also	ADV
cblr-1711	137	195	issue	issue	VERB
cblr-1711	137	196	rules	rule	NOUN
cblr-1711	137	197	and	and	CCONJ
cblr-1711	137	198	regulations	regulation	NOUN
cblr-1711	137	199	to	to	PART
cblr-1711	137	200	disqualify	disqualify	VERB
cblr-1711	137	201	categories	category	NOUN
cblr-1711	137	202	of	of	ADP
cblr-1711	137	203	issuers	issuer	NOUN
cblr-1711	137	204	from	from	ADP
cblr-1711	137	205	eligibility	eligibility	NOUN
cblr-1711	137	206	;	;	PUNCT
cblr-1711	137	207	moreover	moreover	ADV
cblr-1711	137	208	,	,	PUNCT
cblr-1711	137	209	the	the	DET
cblr-1711	137	210	jobs	job	NOUN
cblr-1711	137	211	act	act	NOUN
cblr-1711	137	212	requires	require	VERB
cblr-1711	137	213	the	the	DET
cblr-1711	137	214	sec	sec	PROPN
cblr-1711	137	215	to	to	PART
cblr-1711	137	216	disqualify	disqualify	VERB
cblr-1711	137	217	parties	party	NOUN
cblr-1711	137	218	from	from	ADP
cblr-1711	137	219	reliance	reliance	NOUN
cblr-1711	137	220	on	on	ADP
cblr-1711	137	221	the	the	DET
cblr-1711	137	222	crowdfunding	crowdfunding	NOUN
cblr-1711	137	223	exemption	exemption	NOUN
cblr-1711	137	224	based	base	VERB
cblr-1711	137	225	on	on	ADP
cblr-1711	137	226	their	their	PRON
cblr-1711	137	227	60	60	NUM
cblr-1711	137	228	jumpstart	jumpstart	NOUN
cblr-1711	137	229	our	our	PRON
cblr-1711	137	230	business	business	NOUN
cblr-1711	137	231	startups	startup	NOUN
cblr-1711	137	232	act	act	PROPN
cblr-1711	137	233	,	,	PUNCT
cblr-1711	137	234	pub	pub	NOUN
cblr-1711	137	235	.	.	PUNCT
cblr-1711	138	1	l.	l.	PROPN
cblr-1711	138	2	no	no	INTJ
cblr-1711	138	3	.	.	PROPN
cblr-1711	139	1	112	112	NUM
cblr-1711	139	2	-	-	SYM
cblr-1711	139	3	106	106	NUM
cblr-1711	139	4	,	,	PUNCT
cblr-1711	139	5	§	§	PROPN
cblr-1711	139	6	§	§	PROPN
cblr-1711	139	7	302	302	NUM
cblr-1711	139	8	–	–	PUNCT
cblr-1711	139	9	303	303	NUM
cblr-1711	139	10	,	,	PUNCT
cblr-1711	139	11	126	126	NUM
cblr-1711	139	12	stat	stat	NOUN
cblr-1711	139	13	.	.	PUNCT
cblr-1711	140	1	306	306	NUM
cblr-1711	140	2	,	,	PUNCT
cblr-1711	140	3	315–21	315–21	PROPN
cblr-1711	140	4	(	(	PUNCT
cblr-1711	140	5	2012	2012	NUM
cblr-1711	140	6	)	)	PUNCT
cblr-1711	140	7	(	(	PUNCT
cblr-1711	140	8	codified	codify	VERB
cblr-1711	140	9	as	as	SCONJ
cblr-1711	140	10	amended	amend	VERB
cblr-1711	140	11	in	in	ADP
cblr-1711	140	12	scattered	scatter	VERB
cblr-1711	140	13	sections	section	NOUN
cblr-1711	140	14	of	of	ADP
cblr-1711	140	15	15	15	NUM
cblr-1711	140	16	u.s.c	u.s.c	ADJ
cblr-1711	140	17	.	.	PUNCT
cblr-1711	140	18	)	)	PUNCT
cblr-1711	140	19	.	.	PUNCT
cblr-1711	141	1	in	in	ADP
cblr-1711	141	2	2017	2017	NUM
cblr-1711	141	3	,	,	PUNCT
cblr-1711	141	4	the	the	DET
cblr-1711	141	5	sec	sec	PROPN
cblr-1711	141	6	effectuated	effectuate	VERB
cblr-1711	141	7	inflation	inflation	NOUN
cblr-1711	141	8	adjustments	adjustment	NOUN
cblr-1711	141	9	required	require	VERB
cblr-1711	141	10	under	under	ADP
cblr-1711	141	11	title	title	NOUN
cblr-1711	141	12	iii	iii	NOUN
cblr-1711	141	13	,	,	PUNCT
cblr-1711	141	14	as	as	ADP
cblr-1711	141	15	in	in	ADP
cblr-1711	141	16	title	title	NOUN
cblr-1711	141	17	i	i	PRON
cblr-1711	141	18	,	,	PUNCT
cblr-1711	141	19	see	see	VERB
cblr-1711	141	20	supra	supra	PROPN
cblr-1711	141	21	note	note	PROPN
cblr-1711	141	22	47	47	NUM
cblr-1711	141	23	,	,	PUNCT
cblr-1711	141	24	and	and	CCONJ
cblr-1711	141	25	increased	increase	VERB
cblr-1711	141	26	the	the	DET
cblr-1711	141	27	maximum	maximum	ADJ
cblr-1711	141	28	offering	offering	NOUN
cblr-1711	141	29	amounts	amount	NOUN
cblr-1711	141	30	and	and	CCONJ
cblr-1711	141	31	investment	investment	NOUN
cblr-1711	141	32	limits	limit	NOUN
cblr-1711	141	33	.	.	PUNCT
cblr-1711	142	1	inflation	inflation	NOUN
cblr-1711	142	2	adjustments	adjustment	NOUN
cblr-1711	142	3	and	and	CCONJ
cblr-1711	142	4	other	other	ADJ
cblr-1711	142	5	technical	technical	ADJ
cblr-1711	142	6	amendments	amendment	NOUN
cblr-1711	142	7	under	under	ADP
cblr-1711	142	8	titles	title	NOUN
cblr-1711	142	9	i	i	PRON
cblr-1711	142	10	and	and	CCONJ
cblr-1711	142	11	iii	iii	NUM
cblr-1711	142	12	of	of	ADP
cblr-1711	142	13	the	the	DET
cblr-1711	142	14	jobs	job	NOUN
cblr-1711	142	15	act	act	PROPN
cblr-1711	142	16	,	,	PUNCT
cblr-1711	142	17	82	82	NUM
cblr-1711	142	18	fed	fed	PROPN
cblr-1711	142	19	.	.	PUNCT
cblr-1711	143	1	reg	reg	PROPN
cblr-1711	143	2	.	.	PROPN
cblr-1711	144	1	17,545	17,545	NUM
cblr-1711	144	2	,	,	PUNCT
cblr-1711	144	3	17,549	17,549	NUM
cblr-1711	144	4	(	(	PUNCT
cblr-1711	144	5	apr	apr	PROPN
cblr-1711	144	6	.	.	PROPN
cblr-1711	144	7	12	12	NUM
cblr-1711	144	8	,	,	PUNCT
cblr-1711	144	9	2017	2017	NUM
cblr-1711	144	10	)	)	PUNCT
cblr-1711	144	11	(	(	PUNCT
cblr-1711	144	12	to	to	PART
cblr-1711	144	13	be	be	AUX
cblr-1711	144	14	codified	codify	VERB
cblr-1711	144	15	at	at	ADP
cblr-1711	144	16	17	17	NUM
cblr-1711	144	17	c.f.r	c.f.r	NOUN
cblr-1711	144	18	.	.	PUNCT
cblr-1711	145	1	pt	pt	PROPN
cblr-1711	145	2	.	.	PROPN
cblr-1711	145	3	210	210	NUM
cblr-1711	145	4	,	,	PUNCT
cblr-1711	145	5	227	227	NUM
cblr-1711	145	6	,	,	PUNCT
cblr-1711	145	7	229	229	NUM
cblr-1711	145	8	,	,	PUNCT
cblr-1711	145	9	230	230	NUM
cblr-1711	145	10	,	,	PUNCT
cblr-1711	145	11	239	239	NUM
cblr-1711	145	12	,	,	PUNCT
cblr-1711	145	13	240	240	NUM
cblr-1711	145	14	,	,	PUNCT
cblr-1711	145	15	249	249	NUM
cblr-1711	145	16	)	)	PUNCT
cblr-1711	145	17	.	.	PUNCT
cblr-1711	146	1	61	61	NUM
cblr-1711	146	2	jumpstart	jumpstart	VERB
cblr-1711	146	3	our	our	PRON
cblr-1711	146	4	business	business	NOUN
cblr-1711	146	5	startups	startup	NOUN
cblr-1711	146	6	act	act	PROPN
cblr-1711	146	7	,	,	PUNCT
cblr-1711	146	8	pub	pub	NOUN
cblr-1711	146	9	.	.	PUNCT
cblr-1711	147	1	l.	l.	PROPN
cblr-1711	147	2	no	no	INTJ
cblr-1711	147	3	.	.	PROPN
cblr-1711	148	1	112	112	NUM
cblr-1711	148	2	-	-	SYM
cblr-1711	148	3	106	106	NUM
cblr-1711	148	4	,	,	PUNCT
cblr-1711	148	5	§	§	PROPN
cblr-1711	148	6	302	302	NUM
cblr-1711	148	7	,	,	PUNCT
cblr-1711	148	8	126	126	NUM
cblr-1711	148	9	stat	stat	NOUN
cblr-1711	148	10	.	.	PUNCT
cblr-1711	149	1	306	306	NUM
cblr-1711	149	2	,	,	PUNCT
cblr-1711	149	3	315–21	315–21	PROPN
cblr-1711	149	4	(	(	PUNCT
cblr-1711	149	5	2012	2012	NUM
cblr-1711	149	6	)	)	PUNCT
cblr-1711	149	7	(	(	PUNCT
cblr-1711	149	8	codified	codify	VERB
cblr-1711	149	9	as	as	SCONJ
cblr-1711	149	10	amended	amend	VERB
cblr-1711	149	11	in	in	ADP
cblr-1711	149	12	scattered	scatter	VERB
cblr-1711	149	13	sections	section	NOUN
cblr-1711	149	14	of	of	ADP
cblr-1711	149	15	15	15	NUM
cblr-1711	149	16	u.s.c	u.s.c	ADJ
cblr-1711	149	17	.	.	PUNCT
cblr-1711	149	18	)	)	PUNCT
cblr-1711	149	19	.	.	PUNCT
cblr-1711	150	1	62	62	NUM
cblr-1711	151	1	i	i	PRON
cblr-1711	151	2	d.	d.	PROPN
cblr-1711	151	3	63	63	NUM
cblr-1711	152	1	i	i	PRON
cblr-1711	152	2	d.	d.	PROPN
cblr-1711	152	3	64	64	NUM
cblr-1711	153	1	i	i	PRON
cblr-1711	153	2	d.	d.	PROPN
cblr-1711	153	3	65	65	NUM
cblr-1711	154	1	i	i	PRON
cblr-1711	154	2	d.	d.	PROPN
cblr-1711	154	3	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	154	4	no	no	NOUN
cblr-1711	154	5	.	.	PUNCT
cblr-1711	155	1	3:1060	3:1060	NUM
cblr-1711	155	2	]	]	X
cblr-1711	155	3	biotech	biotech	NOUN
cblr-1711	155	4	crowdfunding	crowdfunde	VERB
cblr-1711	155	5	1073	1073	NUM
cblr-1711	155	6	disciplinary	disciplinary	ADJ
cblr-1711	155	7	history.66	history.66	NOUN
cblr-1711	155	8	in	in	ADP
cblr-1711	155	9	regards	regard	NOUN
cblr-1711	155	10	to	to	ADP
cblr-1711	155	11	advertisements	advertisement	NOUN
cblr-1711	155	12	and	and	CCONJ
cblr-1711	155	13	promotions	promotion	NOUN
cblr-1711	155	14	,	,	PUNCT
cblr-1711	155	15	title	title	NOUN
cblr-1711	155	16	iii	iii	NUM
cblr-1711	155	17	prohibits	prohibit	VERB
cblr-1711	155	18	issuers	issuer	NOUN
cblr-1711	155	19	from	from	ADP
cblr-1711	155	20	(	(	PUNCT
cblr-1711	155	21	1	1	X
cblr-1711	155	22	)	)	PUNCT
cblr-1711	155	23	advertising	advertise	VERB
cblr-1711	155	24	the	the	DET
cblr-1711	155	25	terms	term	NOUN
cblr-1711	155	26	of	of	ADP
cblr-1711	155	27	the	the	DET
cblr-1711	155	28	crowdfunding	crowdfunding	NOUN
cblr-1711	155	29	offering	offering	NOUN
cblr-1711	155	30	,	,	PUNCT
cblr-1711	155	31	except	except	SCONJ
cblr-1711	155	32	in	in	ADP
cblr-1711	155	33	order	order	NOUN
cblr-1711	155	34	to	to	PART
cblr-1711	155	35	direct	direct	VERB
cblr-1711	155	36	investors	investor	NOUN
cblr-1711	155	37	to	to	ADP
cblr-1711	155	38	brokers	broker	NOUN
cblr-1711	155	39	or	or	CCONJ
cblr-1711	155	40	the	the	DET
cblr-1711	155	41	funding	funding	NOUN
cblr-1711	155	42	portal	portal	NOUN
cblr-1711	155	43	,	,	PUNCT
cblr-1711	155	44	and	and	CCONJ
cblr-1711	155	45	(	(	PUNCT
cblr-1711	155	46	2	2	X
cblr-1711	155	47	)	)	PUNCT
cblr-1711	155	48	compensating	compensate	VERB
cblr-1711	155	49	third	third	ADJ
cblr-1711	155	50	-	-	PUNCT
cblr-1711	155	51	party	party	NOUN
cblr-1711	155	52	promoters	promoter	NOUN
cblr-1711	155	53	,	,	PUNCT
cblr-1711	155	54	unless	unless	SCONJ
cblr-1711	155	55	the	the	DET
cblr-1711	155	56	promoter	promoter	NOUN
cblr-1711	155	57	clearly	clearly	ADV
cblr-1711	155	58	discloses	disclose	VERB
cblr-1711	155	59	that	that	SCONJ
cblr-1711	155	60	the	the	DET
cblr-1711	155	61	issuer	issuer	NOUN
cblr-1711	155	62	is	be	AUX
cblr-1711	155	63	compensating	compensate	VERB
cblr-1711	155	64	it.67	it.67	ADJ
cblr-1711	155	65	title	title	NOUN
cblr-1711	155	66	iv	iv	ADP
cblr-1711	155	67	:	:	PUNCT
cblr-1711	155	68	small	small	ADJ
cblr-1711	155	69	company	company	NOUN
cblr-1711	155	70	capital	capital	NOUN
cblr-1711	155	71	formation	formation	NOUN
cblr-1711	155	72	directs	direct	VERB
cblr-1711	155	73	the	the	DET
cblr-1711	155	74	sec	sec	PROPN
cblr-1711	155	75	to	to	PART
cblr-1711	155	76	amend	amend	VERB
cblr-1711	155	77	regulation	regulation	NOUN
cblr-1711	155	78	a	a	PRON
cblr-1711	155	79	and	and	CCONJ
cblr-1711	155	80	exempt	exempt	VERB
cblr-1711	155	81	certain	certain	ADJ
cblr-1711	155	82	offerings	offering	NOUN
cblr-1711	155	83	of	of	ADP
cblr-1711	155	84	up	up	ADP
cblr-1711	155	85	to	to	PART
cblr-1711	155	86	$	$	SYM
cblr-1711	155	87	50	50	NUM
cblr-1711	155	88	million	million	NUM
cblr-1711	155	89	in	in	ADP
cblr-1711	155	90	any	any	DET
cblr-1711	155	91	twelve	twelve	NUM
cblr-1711	155	92	-	-	PUNCT
cblr-1711	155	93	month	month	NOUN
cblr-1711	155	94	period.68	period.68	NOUN
cblr-1711	155	95	regulation	regulation	NOUN
cblr-1711	155	96	a	a	DET
cblr-1711	155	97	previously	previously	ADV
cblr-1711	155	98	exempted	exempt	VERB
cblr-1711	155	99	securities	security	NOUN
cblr-1711	155	100	from	from	ADP
cblr-1711	155	101	most	most	ADJ
cblr-1711	155	102	reporting	reporting	NOUN
cblr-1711	155	103	requirements	requirement	NOUN
cblr-1711	155	104	,	,	PUNCT
cblr-1711	155	105	but	but	CCONJ
cblr-1711	155	106	it	it	PRON
cblr-1711	155	107	was	be	AUX
cblr-1711	155	108	not	not	PART
cblr-1711	155	109	widely	widely	ADV
cblr-1711	155	110	used	use	VERB
cblr-1711	155	111	by	by	ADP
cblr-1711	155	112	issuers	issuer	NOUN
cblr-1711	155	113	because	because	SCONJ
cblr-1711	155	114	the	the	DET
cblr-1711	155	115	maximum	maximum	ADJ
cblr-1711	155	116	amount	amount	NOUN
cblr-1711	155	117	of	of	ADP
cblr-1711	155	118	securities	security	NOUN
cblr-1711	155	119	that	that	PRON
cblr-1711	155	120	the	the	DET
cblr-1711	155	121	regulation	regulation	NOUN
cblr-1711	155	122	permitted	permit	VERB
cblr-1711	155	123	was	be	AUX
cblr-1711	155	124	quite	quite	ADV
cblr-1711	155	125	low—$5	low—$5	ADJ
cblr-1711	155	126	million	million	NUM
cblr-1711	155	127	in	in	ADP
cblr-1711	155	128	a	a	DET
cblr-1711	155	129	twelve	twelve	NUM
cblr-1711	155	130	-	-	PUNCT
cblr-1711	155	131	month	month	NOUN
cblr-1711	155	132	period.69	period.69	NOUN
cblr-1711	155	133	now	now	ADV
cblr-1711	155	134	informally	informally	ADV
cblr-1711	155	135	referred	refer	VERB
cblr-1711	155	136	to	to	ADP
cblr-1711	155	137	as	as	ADP
cblr-1711	155	138	regulation	regulation	NOUN
cblr-1711	155	139	a+	a+	PUNCT
cblr-1711	155	140	,	,	PUNCT
cblr-1711	155	141	the	the	DET
cblr-1711	155	142	amended	amend	VERB
cblr-1711	155	143	act	act	NOUN
cblr-1711	155	144	provides	provide	VERB
cblr-1711	155	145	another	another	DET
cblr-1711	155	146	method	method	NOUN
cblr-1711	155	147	for	for	ADP
cblr-1711	155	148	raising	raise	VERB
cblr-1711	155	149	large	large	ADJ
cblr-1711	155	150	amounts	amount	NOUN
cblr-1711	155	151	of	of	ADP
cblr-1711	155	152	capital	capital	NOUN
cblr-1711	155	153	exempt	exempt	ADJ
cblr-1711	155	154	from	from	ADP
cblr-1711	155	155	registration	registration	NOUN
cblr-1711	155	156	requirements.70	requirements.70	PROPN
cblr-1711	155	157	section	section	NOUN
cblr-1711	155	158	401	401	NUM
cblr-1711	155	159	of	of	ADP
cblr-1711	155	160	the	the	DET
cblr-1711	155	161	jobs	job	NOUN
cblr-1711	155	162	act	act	VERB
cblr-1711	155	163	amended	amend	VERB
cblr-1711	155	164	section	section	NOUN
cblr-1711	155	165	18(b)(4	18(b)(4	NUM
cblr-1711	155	166	)	)	PUNCT
cblr-1711	155	167	of	of	ADP
cblr-1711	155	168	the	the	DET
cblr-1711	155	169	securities	security	NOUN
cblr-1711	155	170	act	act	VERB
cblr-1711	155	171	to	to	PART
cblr-1711	155	172	categorize	categorize	VERB
cblr-1711	155	173	compliant	compliant	ADJ
cblr-1711	155	174	regulation	regulation	NOUN
cblr-1711	155	175	a+	a+	PUNCT
cblr-1711	155	176	securities	security	NOUN
cblr-1711	155	177	as	as	ADP
cblr-1711	155	178	“	"	PUNCT
cblr-1711	155	179	covered	covered	ADJ
cblr-1711	155	180	securities	security	NOUN
cblr-1711	155	181	,	,	PUNCT
cblr-1711	155	182	”	"	PUNCT
cblr-1711	155	183	so	so	SCONJ
cblr-1711	155	184	that	that	SCONJ
cblr-1711	155	185	state	state	NOUN
cblr-1711	155	186	registration	registration	NOUN
cblr-1711	155	187	and	and	CCONJ
cblr-1711	155	188	qualification	qualification	NOUN
cblr-1711	155	189	requirements	requirement	NOUN
cblr-1711	155	190	are	be	AUX
cblr-1711	155	191	preempted	preempt	VERB
cblr-1711	155	192	if	if	SCONJ
cblr-1711	155	193	the	the	DET
cblr-1711	155	194	securities	security	NOUN
cblr-1711	155	195	are	be	AUX
cblr-1711	155	196	offered	offer	VERB
cblr-1711	155	197	or	or	CCONJ
cblr-1711	155	198	sold	sell	VERB
cblr-1711	155	199	on	on	ADP
cblr-1711	155	200	a	a	DET
cblr-1711	155	201	national	national	ADJ
cblr-1711	155	202	securities	security	NOUN
cblr-1711	155	203	exchange	exchange	NOUN
cblr-1711	155	204	or	or	CCONJ
cblr-1711	155	205	only	only	ADV
cblr-1711	155	206	to	to	ADP
cblr-1711	155	207	qualified	qualified	ADJ
cblr-1711	155	208	purchasers.71	purchasers.71	NOUN
cblr-1711	155	209	this	this	PRON
cblr-1711	155	210	expands	expand	VERB
cblr-1711	155	211	the	the	DET
cblr-1711	155	212	pool	pool	NOUN
cblr-1711	155	213	of	of	ADP
cblr-1711	155	214	potential	potential	ADJ
cblr-1711	155	215	investors.72	investors.72	NOUN
cblr-1711	155	216	finally	finally	ADV
cblr-1711	155	217	,	,	PUNCT
cblr-1711	155	218	title	title	NOUN
cblr-1711	155	219	v	v	ADP
cblr-1711	155	220	:	:	PUNCT
cblr-1711	155	221	private	private	ADJ
cblr-1711	155	222	company	company	NOUN
cblr-1711	155	223	flexibility	flexibility	NOUN
cblr-1711	155	224	and	and	CCONJ
cblr-1711	155	225	growth	growth	NOUN
cblr-1711	155	226	and	and	CCONJ
cblr-1711	155	227	title	title	NOUN
cblr-1711	155	228	vi	vi	PROPN
cblr-1711	155	229	:	:	PUNCT
cblr-1711	155	230	capital	capital	NOUN
cblr-1711	155	231	expansion	expansion	NOUN
cblr-1711	155	232	permit	permit	VERB
cblr-1711	155	233	private	private	ADJ
cblr-1711	155	234	companies	company	NOUN
cblr-1711	155	235	to	to	ADP
cblr-1711	155	236	66	66	NUM
cblr-1711	156	1	i	i	PRON
cblr-1711	156	2	d.	d.	PROPN
cblr-1711	156	3	67	67	NUM
cblr-1711	157	1	i	i	PRON
cblr-1711	157	2	d.	d.	PROPN
cblr-1711	157	3	68	68	NUM
cblr-1711	158	1	i	i	PRON
cblr-1711	158	2	d.	d.	PROPN
cblr-1711	158	3	at	at	ADP
cblr-1711	158	4	§	§	PROPN
cblr-1711	158	5	401	401	NUM
cblr-1711	158	6	;	;	PUNCT
cblr-1711	158	7	see	see	VERB
cblr-1711	158	8	also	also	ADV
cblr-1711	158	9	scott	scott	PROPN
cblr-1711	158	10	,	,	PUNCT
cblr-1711	158	11	supra	supra	PROPN
cblr-1711	158	12	note	note	PROPN
cblr-1711	158	13	13	13	NUM
cblr-1711	158	14	,	,	PUNCT
cblr-1711	158	15	at	at	ADP
cblr-1711	158	16	383	383	NUM
cblr-1711	158	17	;	;	PUNCT
cblr-1711	158	18	amendments	amendment	NOUN
cblr-1711	158	19	to	to	PART
cblr-1711	158	20	regulation	regulation	VERB
cblr-1711	158	21	a	a	DET
cblr-1711	158	22	:	:	PUNCT
cblr-1711	158	23	a	a	DET
cblr-1711	158	24	small	small	ADJ
cblr-1711	158	25	entity	entity	NOUN
cblr-1711	158	26	compliance	compliance	NOUN
cblr-1711	158	27	guide	guide	NOUN
cblr-1711	158	28	,	,	PUNCT
cblr-1711	158	29	u.s	u.s	PROPN
cblr-1711	158	30	.	.	PROPN
cblr-1711	158	31	sec	sec	PROPN
cblr-1711	158	32	.	.	PROPN
cblr-1711	158	33	&	&	CCONJ
cblr-1711	158	34	exchange	exchange	PROPN
cblr-1711	158	35	commission	commission	PROPN
cblr-1711	158	36	(	(	PUNCT
cblr-1711	158	37	june	june	PROPN
cblr-1711	158	38	18	18	NUM
cblr-1711	158	39	,	,	PUNCT
cblr-1711	158	40	2015	2015	NUM
cblr-1711	158	41	)	)	PUNCT
cblr-1711	158	42	,	,	PUNCT
cblr-1711	158	43	https://www.sec.gov/info/smallbus/	https://www.sec.gov/info/smallbus/	PROPN
cblr-1711	158	44	secg	secg	NOUN
cblr-1711	158	45	/	/	SYM
cblr-1711	158	46	regulation	regulation	NOUN
cblr-1711	158	47	-	-	PUNCT
cblr-1711	158	48	a	a	DET
cblr-1711	158	49	-	-	PUNCT
cblr-1711	158	50	amendments	amendment	NOUN
cblr-1711	158	51	-	-	PUNCT
cblr-1711	158	52	secg.shtml	secg.shtml	PRON
cblr-1711	158	53	[	[	X
cblr-1711	158	54	https://perma.cc/7cus-nkwd	https://perma.cc/7cus-nkwd	X
cblr-1711	158	55	]	]	X
cblr-1711	158	56	.	.	PUNCT
cblr-1711	159	1	69	69	NUM
cblr-1711	159	2	see	see	VERB
cblr-1711	159	3	press	press	NOUN
cblr-1711	159	4	release	release	NOUN
cblr-1711	159	5	,	,	PUNCT
cblr-1711	159	6	sec	sec	PROPN
cblr-1711	159	7	,	,	PUNCT
cblr-1711	159	8	sec	sec	PROPN
cblr-1711	159	9	adopts	adopt	VERB
cblr-1711	159	10	rules	rule	NOUN
cblr-1711	159	11	to	to	PART
cblr-1711	159	12	facilitate	facilitate	VERB
cblr-1711	159	13	smaller	small	ADJ
cblr-1711	159	14	companies	company	NOUN
cblr-1711	159	15	’	'	PUNCT
cblr-1711	159	16	access	access	NOUN
cblr-1711	159	17	to	to	ADP
cblr-1711	159	18	capital	capital	NOUN
cblr-1711	159	19	(	(	PUNCT
cblr-1711	159	20	mar	mar	PROPN
cblr-1711	159	21	.	.	PROPN
cblr-1711	159	22	25	25	NUM
cblr-1711	159	23	,	,	PUNCT
cblr-1711	159	24	2015	2015	NUM
cblr-1711	159	25	)	)	PUNCT
cblr-1711	159	26	,	,	PUNCT
cblr-1711	159	27	https://www.sec.gov/news/	https://www.sec.gov/news/	X
cblr-1711	159	28	pressrelease/2015	pressrelease/2015	PROPN
cblr-1711	159	29	-	-	PUNCT
cblr-1711	159	30	49.html	49.html	NUM
cblr-1711	160	1	[	[	X
cblr-1711	160	2	https://perma.cc/yn63-mkjt	https://perma.cc/yn63-mkjt	X
cblr-1711	160	3	]	]	X
cblr-1711	160	4	.	.	PUNCT
cblr-1711	161	1	70	70	NUM
cblr-1711	161	2	see	see	VERB
cblr-1711	161	3	i	i	PRON
cblr-1711	161	4	d.	d.	PROPN
cblr-1711	161	5	71	71	NUM
cblr-1711	161	6	see	see	VERB
cblr-1711	161	7	amendments	amendment	NOUN
cblr-1711	161	8	for	for	ADP
cblr-1711	161	9	small	small	ADJ
cblr-1711	161	10	and	and	CCONJ
cblr-1711	161	11	additional	additional	ADJ
cblr-1711	161	12	issues	issue	NOUN
cblr-1711	161	13	exemptions	exemption	NOUN
cblr-1711	161	14	under	under	ADP
cblr-1711	161	15	the	the	DET
cblr-1711	161	16	securities	security	NOUN
cblr-1711	161	17	act	act	NOUN
cblr-1711	161	18	(	(	PUNCT
cblr-1711	161	19	regulation	regulation	NOUN
cblr-1711	161	20	a	a	NOUN
cblr-1711	161	21	)	)	PUNCT
cblr-1711	161	22	,	,	PUNCT
cblr-1711	161	23	80	80	NUM
cblr-1711	161	24	fed	feed	VERB
cblr-1711	161	25	.	.	PUNCT
cblr-1711	162	1	reg	reg	PROPN
cblr-1711	162	2	.	.	PROPN
cblr-1711	163	1	21,805	21,805	NUM
cblr-1711	163	2	,	,	PUNCT
cblr-1711	163	3	21,856	21,856	NUM
cblr-1711	163	4	(	(	PUNCT
cblr-1711	163	5	apr	apr	PROPN
cblr-1711	163	6	.	.	PROPN
cblr-1711	163	7	20	20	NUM
cblr-1711	163	8	,	,	PUNCT
cblr-1711	163	9	2015	2015	NUM
cblr-1711	163	10	)	)	PUNCT
cblr-1711	163	11	(	(	PUNCT
cblr-1711	163	12	to	to	PART
cblr-1711	163	13	be	be	AUX
cblr-1711	163	14	codified	codify	VERB
cblr-1711	163	15	at	at	ADP
cblr-1711	163	16	17	17	NUM
cblr-1711	163	17	c.f.r	c.f.r	NOUN
cblr-1711	163	18	.	.	PUNCT
cblr-1711	164	1	pt	pt	PROPN
cblr-1711	164	2	.	.	PROPN
cblr-1711	164	3	200	200	NUM
cblr-1711	164	4	,	,	PUNCT
cblr-1711	164	5	230	230	NUM
cblr-1711	164	6	,	,	PUNCT
cblr-1711	164	7	232	232	NUM
cblr-1711	164	8	,	,	PUNCT
cblr-1711	164	9	239	239	NUM
cblr-1711	164	10	,	,	PUNCT
cblr-1711	164	11	240	240	NUM
cblr-1711	164	12	,	,	PUNCT
cblr-1711	164	13	249	249	NUM
cblr-1711	164	14	,	,	PUNCT
cblr-1711	164	15	260	260	NUM
cblr-1711	164	16	)	)	PUNCT
cblr-1711	164	17	.	.	PUNCT
cblr-1711	165	1	72	72	NUM
cblr-1711	165	2	scott	scott	PROPN
cblr-1711	165	3	,	,	PUNCT
cblr-1711	165	4	supra	supra	PROPN
cblr-1711	165	5	note	note	PROPN
cblr-1711	165	6	13	13	NUM
cblr-1711	165	7	,	,	PUNCT
cblr-1711	165	8	at	at	ADP
cblr-1711	165	9	383	383	NUM
cblr-1711	165	10	.	.	PUNCT
cblr-1711	166	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	166	2	1074	1074	NUM
cblr-1711	166	3	columbia	columbia	PROPN
cblr-1711	166	4	business	business	NOUN
cblr-1711	166	5	law	law	PROPN
cblr-1711	166	6	review	review	NOUN
cblr-1711	166	7	[	[	X
cblr-1711	166	8	vol	vol	NOUN
cblr-1711	166	9	.	.	PUNCT
cblr-1711	166	10	2018	2018	NUM
cblr-1711	166	11	delay	delay	NOUN
cblr-1711	166	12	or	or	CCONJ
cblr-1711	166	13	avoid	avoid	VERB
cblr-1711	166	14	becoming	becoming	AUX
cblr-1711	166	15	reporting	report	VERB
cblr-1711	166	16	companies	company	NOUN
cblr-1711	166	17	by	by	ADP
cblr-1711	166	18	increasing	increase	VERB
cblr-1711	166	19	the	the	DET
cblr-1711	166	20	threshold	threshold	NOUN
cblr-1711	166	21	at	at	ADP
cblr-1711	166	22	which	which	PRON
cblr-1711	166	23	issuers	issuer	NOUN
cblr-1711	166	24	are	be	AUX
cblr-1711	166	25	required	require	VERB
cblr-1711	166	26	to	to	PART
cblr-1711	166	27	register	register	VERB
cblr-1711	166	28	under	under	ADP
cblr-1711	166	29	the	the	DET
cblr-1711	166	30	exchange	exchange	NOUN
cblr-1711	166	31	act.73	act.73	NOUN
cblr-1711	166	32	“	"	PUNCT
cblr-1711	166	33	prior	prior	ADV
cblr-1711	166	34	to	to	ADP
cblr-1711	166	35	the	the	DET
cblr-1711	166	36	passage	passage	NOUN
cblr-1711	166	37	of	of	ADP
cblr-1711	166	38	the	the	DET
cblr-1711	166	39	jobs	job	NOUN
cblr-1711	166	40	act	act	PROPN
cblr-1711	166	41	,	,	PUNCT
cblr-1711	166	42	section	section	NOUN
cblr-1711	166	43	12(g	12(g	NUM
cblr-1711	166	44	)	)	PUNCT
cblr-1711	166	45	of	of	ADP
cblr-1711	166	46	the	the	DET
cblr-1711	166	47	exchange	exchange	NOUN
cblr-1711	166	48	act	act	NOUN
cblr-1711	166	49	required	require	VERB
cblr-1711	166	50	a	a	DET
cblr-1711	166	51	company	company	NOUN
cblr-1711	166	52	with	with	ADP
cblr-1711	166	53	more	more	ADJ
cblr-1711	166	54	than	than	ADP
cblr-1711	166	55	$	$	SYM
cblr-1711	166	56	10	10	NUM
cblr-1711	166	57	million	million	NUM
cblr-1711	166	58	i[n	i[n	NOUN
cblr-1711	166	59	]	]	X
cblr-1711	166	60	assets	asset	NOUN
cblr-1711	166	61	and	and	CCONJ
cblr-1711	166	62	more	more	ADJ
cblr-1711	166	63	than	than	ADP
cblr-1711	166	64	five	five	NUM
cblr-1711	166	65	hundred	hundred	NUM
cblr-1711	166	66	shareholders	shareholder	NOUN
cblr-1711	166	67	of	of	ADP
cblr-1711	166	68	record	record	NOUN
cblr-1711	166	69	to	to	PART
cblr-1711	166	70	register	register	VERB
cblr-1711	166	71	a	a	DET
cblr-1711	166	72	security	security	NOUN
cblr-1711	166	73	with	with	ADP
cblr-1711	166	74	the	the	DET
cblr-1711	166	75	sec	sec	PROPN
cblr-1711	166	76	.	.	PUNCT
cblr-1711	166	77	”74	”74	PROPN
cblr-1711	167	1	title	title	NOUN
cblr-1711	167	2	v	v	PROPN
cblr-1711	167	3	raises	raise	VERB
cblr-1711	167	4	the	the	DET
cblr-1711	167	5	shareholder	shareholder	NOUN
cblr-1711	167	6	of	of	ADP
cblr-1711	167	7	record	record	NOUN
cblr-1711	167	8	threshold	threshold	NOUN
cblr-1711	167	9	from	from	ADP
cblr-1711	167	10	five	five	NUM
cblr-1711	167	11	hundred	hundred	NUM
cblr-1711	167	12	persons	person	NOUN
cblr-1711	167	13	to	to	ADP
cblr-1711	167	14	two	two	NUM
cblr-1711	167	15	thousand	thousand	NUM
cblr-1711	167	16	persons	person	NOUN
cblr-1711	167	17	,	,	PUNCT
cblr-1711	167	18	or	or	CCONJ
cblr-1711	167	19	five	five	NUM
cblr-1711	167	20	hundred	hundred	NUM
cblr-1711	167	21	persons	person	NOUN
cblr-1711	167	22	who	who	PRON
cblr-1711	167	23	are	be	AUX
cblr-1711	167	24	not	not	PART
cblr-1711	167	25	accredited	accredited	ADJ
cblr-1711	167	26	investors	investor	NOUN
cblr-1711	167	27	,	,	PUNCT
cblr-1711	167	28	and	and	CCONJ
cblr-1711	167	29	it	it	PRON
cblr-1711	167	30	excludes	exclude	VERB
cblr-1711	167	31	persons	person	NOUN
cblr-1711	167	32	who	who	PRON
cblr-1711	167	33	received	receive	VERB
cblr-1711	167	34	the	the	DET
cblr-1711	167	35	securities	security	NOUN
cblr-1711	167	36	under	under	ADP
cblr-1711	167	37	an	an	DET
cblr-1711	167	38	employee	employee	NOUN
cblr-1711	167	39	compensation	compensation	NOUN
cblr-1711	167	40	plan	plan	NOUN
cblr-1711	167	41	from	from	ADP
cblr-1711	167	42	the	the	DET
cblr-1711	167	43	shareholder	shareholder	NOUN
cblr-1711	167	44	of	of	ADP
cblr-1711	167	45	record	record	NOUN
cblr-1711	167	46	classification.75	classification.75	PROPN
cblr-1711	167	47	title	title	NOUN
cblr-1711	167	48	vi	vi	PROPN
cblr-1711	167	49	,	,	PUNCT
cblr-1711	167	50	in	in	ADP
cblr-1711	167	51	relevant	relevant	ADJ
cblr-1711	167	52	part	part	NOUN
cblr-1711	167	53	,	,	PUNCT
cblr-1711	167	54	further	far	ADV
cblr-1711	167	55	amends	amend	VERB
cblr-1711	167	56	section	section	NOUN
cblr-1711	167	57	12(g	12(g	NUM
cblr-1711	167	58	)	)	PUNCT
cblr-1711	167	59	of	of	ADP
cblr-1711	167	60	the	the	DET
cblr-1711	167	61	exchange	exchange	NOUN
cblr-1711	167	62	act	act	NOUN
cblr-1711	167	63	by	by	ADP
cblr-1711	167	64	raising	raise	VERB
cblr-1711	167	65	the	the	DET
cblr-1711	167	66	shareholder	shareholder	NOUN
cblr-1711	167	67	of	of	ADP
cblr-1711	167	68	record	record	NOUN
cblr-1711	167	69	threshold	threshold	NOUN
cblr-1711	167	70	for	for	ADP
cblr-1711	167	71	banks	bank	NOUN
cblr-1711	167	72	,	,	PUNCT
cblr-1711	167	73	bank	bank	NOUN
cblr-1711	167	74	holding	hold	VERB
cblr-1711	167	75	companies	company	NOUN
cblr-1711	167	76	,	,	PUNCT
cblr-1711	167	77	and	and	CCONJ
cblr-1711	167	78	savings	saving	NOUN
cblr-1711	167	79	and	and	CCONJ
cblr-1711	167	80	loan	loan	NOUN
cblr-1711	167	81	holding	hold	VERB
cblr-1711	167	82	companies	company	NOUN
cblr-1711	167	83	to	to	ADP
cblr-1711	167	84	two	two	NUM
cblr-1711	167	85	thousand	thousand	NUM
cblr-1711	167	86	persons.76	persons.76	PROPN
cblr-1711	167	87	c.	c.	NOUN
cblr-1711	167	88	impact	impact	NOUN
cblr-1711	167	89	of	of	ADP
cblr-1711	167	90	the	the	DET
cblr-1711	167	91	jobs	job	NOUN
cblr-1711	167	92	act	act	VERB
cblr-1711	167	93	on	on	ADP
cblr-1711	167	94	the	the	DET
cblr-1711	167	95	biotech	biotech	ADJ
cblr-1711	167	96	ipo	ipo	NOUN
cblr-1711	167	97	market	market	NOUN
cblr-1711	167	98	over	over	ADP
cblr-1711	167	99	the	the	DET
cblr-1711	167	100	six	six	NUM
cblr-1711	167	101	years	year	NOUN
cblr-1711	167	102	since	since	SCONJ
cblr-1711	167	103	congress	congress	PROPN
cblr-1711	167	104	passed	pass	VERB
cblr-1711	167	105	the	the	DET
cblr-1711	167	106	jobs	job	NOUN
cblr-1711	167	107	act	act	PROPN
cblr-1711	167	108	,	,	PUNCT
cblr-1711	167	109	small	small	ADJ
cblr-1711	167	110	companies	company	NOUN
cblr-1711	167	111	raising	raise	VERB
cblr-1711	167	112	capital	capital	NOUN
cblr-1711	167	113	have	have	AUX
cblr-1711	167	114	widely	widely	ADV
cblr-1711	167	115	adopted	adopt	VERB
cblr-1711	167	116	the	the	DET
cblr-1711	167	117	act	act	NOUN
cblr-1711	167	118	’s	’s	PART
cblr-1711	167	119	provisions	provision	NOUN
cblr-1711	167	120	into	into	ADP
cblr-1711	167	121	standard	standard	ADJ
cblr-1711	167	122	practice	practice	NOUN
cblr-1711	167	123	.	.	PUNCT
cblr-1711	168	1	however	however	ADV
cblr-1711	168	2	,	,	PUNCT
cblr-1711	168	3	politicians	politician	NOUN
cblr-1711	168	4	,	,	PUNCT
cblr-1711	168	5	businesspeople	businesspeople	NOUN
cblr-1711	168	6	,	,	PUNCT
cblr-1711	168	7	and	and	CCONJ
cblr-1711	168	8	attorneys	attorney	NOUN
cblr-1711	168	9	still	still	ADV
cblr-1711	168	10	debate	debate	VERB
cblr-1711	168	11	whether	whether	SCONJ
cblr-1711	168	12	the	the	DET
cblr-1711	168	13	act	act	NOUN
cblr-1711	168	14	’s	’s	PART
cblr-1711	168	15	requirements	requirement	NOUN
cblr-1711	168	16	should	should	AUX
cblr-1711	168	17	be	be	AUX
cblr-1711	168	18	further	far	ADV
cblr-1711	168	19	relaxed	relax	VERB
cblr-1711	168	20	or	or	CCONJ
cblr-1711	168	21	changed	change	VERB
cblr-1711	168	22	due	due	ADP
cblr-1711	168	23	to	to	ADP
cblr-1711	168	24	concerns	concern	NOUN
cblr-1711	168	25	about	about	ADP
cblr-1711	168	26	fraud.77	fraud.77	NOUN
cblr-1711	168	27	since	since	SCONJ
cblr-1711	168	28	title	title	NOUN
cblr-1711	168	29	i	i	PRON
cblr-1711	168	30	of	of	ADP
cblr-1711	168	31	the	the	DET
cblr-1711	168	32	jobs	job	NOUN
cblr-1711	168	33	act	act	NOUN
cblr-1711	168	34	went	go	VERB
cblr-1711	168	35	into	into	ADP
cblr-1711	168	36	effect	effect	NOUN
cblr-1711	168	37	immediately	immediately	ADV
cblr-1711	168	38	after	after	ADP
cblr-1711	168	39	the	the	DET
cblr-1711	168	40	act	act	NOUN
cblr-1711	168	41	’s	’s	PART
cblr-1711	168	42	passage	passage	NOUN
cblr-1711	168	43	,	,	PUNCT
cblr-1711	168	44	there	there	PRON
cblr-1711	168	45	have	have	AUX
cblr-1711	168	46	been	be	AUX
cblr-1711	168	47	mixed	mixed	ADJ
cblr-1711	168	48	reviews	review	NOUN
cblr-1711	168	49	as	as	ADP
cblr-1711	168	50	to	to	ADP
cblr-1711	168	51	whether	whether	SCONJ
cblr-1711	168	52	the	the	DET
cblr-1711	168	53	act	act	NOUN
cblr-1711	168	54	has	have	AUX
cblr-1711	168	55	actually	actually	ADV
cblr-1711	168	56	been	be	AUX
cblr-1711	168	57	73	73	NUM
cblr-1711	168	58	see	see	VERB
cblr-1711	168	59	changes	change	NOUN
cblr-1711	168	60	to	to	PART
cblr-1711	168	61	exchange	exchange	VERB
cblr-1711	168	62	act	act	NOUN
cblr-1711	168	63	registration	registration	NOUN
cblr-1711	168	64	requirements	requirement	NOUN
cblr-1711	168	65	to	to	PART
cblr-1711	168	66	implement	implement	VERB
cblr-1711	168	67	title	title	NOUN
cblr-1711	168	68	v	v	NOUN
cblr-1711	168	69	and	and	CCONJ
cblr-1711	168	70	title	title	NOUN
cblr-1711	168	71	vi	vi	PROPN
cblr-1711	168	72	of	of	ADP
cblr-1711	168	73	the	the	DET
cblr-1711	168	74	jobs	job	NOUN
cblr-1711	168	75	act	act	PROPN
cblr-1711	168	76	,	,	PUNCT
cblr-1711	168	77	81	81	NUM
cblr-1711	168	78	fed	feed	VERB
cblr-1711	168	79	.	.	PUNCT
cblr-1711	169	1	reg	reg	PROPN
cblr-1711	169	2	.	.	PROPN
cblr-1711	169	3	28,689	28,689	NUM
cblr-1711	169	4	,	,	PUNCT
cblr-1711	169	5	28,689–90	28,689–90	NUM
cblr-1711	169	6	(	(	PUNCT
cblr-1711	169	7	may	may	PROPN
cblr-1711	169	8	10	10	NUM
cblr-1711	169	9	,	,	PUNCT
cblr-1711	169	10	2016	2016	NUM
cblr-1711	169	11	)	)	PUNCT
cblr-1711	169	12	(	(	PUNCT
cblr-1711	169	13	to	to	PART
cblr-1711	169	14	be	be	AUX
cblr-1711	169	15	codified	codify	VERB
cblr-1711	169	16	at	at	ADP
cblr-1711	169	17	17	17	NUM
cblr-1711	169	18	c.f.r	c.f.r	NOUN
cblr-1711	169	19	.	.	PUNCT
cblr-1711	170	1	pt	pt	PROPN
cblr-1711	170	2	.	.	PROPN
cblr-1711	170	3	230	230	NUM
cblr-1711	170	4	,	,	PUNCT
cblr-1711	170	5	240	240	NUM
cblr-1711	170	6	)	)	PUNCT
cblr-1711	170	7	;	;	PUNCT
cblr-1711	170	8	changes	change	NOUN
cblr-1711	170	9	to	to	PART
cblr-1711	170	10	exchange	exchange	VERB
cblr-1711	170	11	act	act	NOUN
cblr-1711	170	12	registration	registration	NOUN
cblr-1711	170	13	requirements	requirement	NOUN
cblr-1711	170	14	to	to	PART
cblr-1711	170	15	implement	implement	VERB
cblr-1711	170	16	title	title	NOUN
cblr-1711	170	17	v	v	NOUN
cblr-1711	170	18	and	and	CCONJ
cblr-1711	170	19	title	title	NOUN
cblr-1711	170	20	vi	vi	PROPN
cblr-1711	170	21	of	of	ADP
cblr-1711	170	22	the	the	DET
cblr-1711	170	23	jobs	job	NOUN
cblr-1711	170	24	act	act	PROPN
cblr-1711	170	25	,	,	PUNCT
cblr-1711	170	26	u.s	u.s	PROPN
cblr-1711	170	27	.	.	PROPN
cblr-1711	170	28	sec	sec	PROPN
cblr-1711	170	29	.	.	PROPN
cblr-1711	170	30	&	&	CCONJ
cblr-1711	170	31	exchange	exchange	PROPN
cblr-1711	170	32	commission	commission	PROPN
cblr-1711	170	33	(	(	PUNCT
cblr-1711	170	34	may	may	PROPN
cblr-1711	170	35	24	24	NUM
cblr-1711	170	36	,	,	PUNCT
cblr-1711	170	37	2016	2016	NUM
cblr-1711	170	38	)	)	PUNCT
cblr-1711	170	39	,	,	PUNCT
cblr-1711	170	40	https://www.sec.gov/info/smallbus/secg/jobs-act-section-12g-smallbusiness-compliance-guide.htm	https://www.sec.gov/info/smallbus/secg/jobs-act-section-12g-smallbusiness-compliance-guide.htm	X
cblr-1711	171	1	[	[	X
cblr-1711	171	2	https://perma.cc/cj47-5753	https://perma.cc/cj47-5753	X
cblr-1711	171	3	]	]	X
cblr-1711	171	4	.	.	PUNCT
cblr-1711	172	1	74	74	NUM
cblr-1711	172	2	scott	scott	PROPN
cblr-1711	172	3	,	,	PUNCT
cblr-1711	172	4	supra	supra	PROPN
cblr-1711	172	5	note	note	PROPN
cblr-1711	172	6	13	13	NUM
cblr-1711	172	7	,	,	PUNCT
cblr-1711	172	8	at	at	ADP
cblr-1711	172	9	384	384	NUM
cblr-1711	172	10	.	.	PUNCT
cblr-1711	173	1	75	75	NUM
cblr-1711	174	1	i	i	PRON
cblr-1711	174	2	d.	d.	PROPN
cblr-1711	174	3	at	at	ADP
cblr-1711	174	4	385	385	NUM
cblr-1711	174	5	;	;	PUNCT
cblr-1711	174	6	changes	change	NOUN
cblr-1711	174	7	to	to	PART
cblr-1711	174	8	exchange	exchange	VERB
cblr-1711	174	9	act	act	NOUN
cblr-1711	174	10	registration	registration	NOUN
cblr-1711	174	11	requirements	requirement	NOUN
cblr-1711	174	12	to	to	PART
cblr-1711	174	13	implement	implement	VERB
cblr-1711	174	14	title	title	NOUN
cblr-1711	174	15	v	v	NOUN
cblr-1711	174	16	and	and	CCONJ
cblr-1711	174	17	title	title	NOUN
cblr-1711	174	18	vi	vi	PROPN
cblr-1711	174	19	of	of	ADP
cblr-1711	174	20	the	the	DET
cblr-1711	174	21	jobs	job	NOUN
cblr-1711	174	22	act	act	PROPN
cblr-1711	174	23	,	,	PUNCT
cblr-1711	174	24	supra	supra	PROPN
cblr-1711	174	25	note	note	NOUN
cblr-1711	174	26	73	73	NUM
cblr-1711	174	27	.	.	PUNCT
cblr-1711	175	1	76	76	NUM
cblr-1711	176	1	i	i	PRON
cblr-1711	176	2	d.	d.	PROPN
cblr-1711	176	3	;	;	PUNCT
cblr-1711	176	4	see	see	VERB
cblr-1711	176	5	also	also	ADV
cblr-1711	176	6	scott	scott	PROPN
cblr-1711	176	7	,	,	PUNCT
cblr-1711	176	8	supra	supra	PROPN
cblr-1711	176	9	note	note	PROPN
cblr-1711	176	10	13	13	NUM
cblr-1711	176	11	,	,	PUNCT
cblr-1711	176	12	at	at	ADP
cblr-1711	176	13	385	385	NUM
cblr-1711	176	14	.	.	PUNCT
cblr-1711	177	1	77	77	NUM
cblr-1711	177	2	see	see	VERB
cblr-1711	177	3	zanki	zanki	PROPN
cblr-1711	177	4	,	,	PUNCT
cblr-1711	177	5	supra	supra	PROPN
cblr-1711	177	6	note	note	NOUN
cblr-1711	177	7	54	54	NUM
cblr-1711	177	8	.	.	PUNCT
cblr-1711	178	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	178	2	no	no	NOUN
cblr-1711	178	3	.	.	NOUN
cblr-1711	179	1	3:1060	3:1060	NUM
cblr-1711	179	2	]	]	X
cblr-1711	179	3	biotech	biotech	NOUN
cblr-1711	179	4	crowdfunding	crowdfunding	NOUN
cblr-1711	179	5	1075	1075	NUM
cblr-1711	179	6	successful	successful	ADJ
cblr-1711	179	7	in	in	ADP
cblr-1711	179	8	measurably	measurably	ADV
cblr-1711	179	9	increasing	increase	VERB
cblr-1711	179	10	the	the	DET
cblr-1711	179	11	number	number	NOUN
cblr-1711	179	12	of	of	ADP
cblr-1711	179	13	ipos.78	ipos.78	PROPN
cblr-1711	179	14	in	in	ADP
cblr-1711	179	15	2014	2014	NUM
cblr-1711	179	16	,	,	PUNCT
cblr-1711	179	17	275	275	NUM
cblr-1711	179	18	companies	company	NOUN
cblr-1711	179	19	went	go	VERB
cblr-1711	179	20	public	public	ADJ
cblr-1711	179	21	,	,	PUNCT
cblr-1711	179	22	a	a	DET
cblr-1711	179	23	fourteen	fourteen	NUM
cblr-1711	179	24	-	-	PUNCT
cblr-1711	179	25	year	year	NOUN
cblr-1711	179	26	high	high	ADJ
cblr-1711	179	27	,	,	PUNCT
cblr-1711	179	28	and	and	CCONJ
cblr-1711	179	29	egcs	egcs	PROPN
cblr-1711	179	30	comprised	comprise	VERB
cblr-1711	179	31	eighty	eighty	NUM
cblr-1711	179	32	-	-	PUNCT
cblr-1711	179	33	five	five	NUM
cblr-1711	179	34	percent	percent	NOUN
cblr-1711	179	35	of	of	ADP
cblr-1711	179	36	ipos	ipos	NOUN
cblr-1711	179	37	from	from	ADP
cblr-1711	179	38	the	the	DET
cblr-1711	179	39	act	act	NOUN
cblr-1711	179	40	’s	’s	PART
cblr-1711	179	41	enactment	enactment	NOUN
cblr-1711	179	42	through	through	ADP
cblr-1711	179	43	mid-2015.79	mid-2015.79	NOUN
cblr-1711	179	44	the	the	DET
cblr-1711	179	45	number	number	NOUN
cblr-1711	179	46	of	of	ADP
cblr-1711	179	47	ipos	ipos	NOUN
cblr-1711	179	48	per	per	ADP
cblr-1711	179	49	year	year	NOUN
cblr-1711	179	50	slowed	slow	VERB
cblr-1711	179	51	through	through	ADP
cblr-1711	179	52	2016	2016	NUM
cblr-1711	179	53	and	and	CCONJ
cblr-1711	179	54	increased	increase	VERB
cblr-1711	179	55	slightly	slightly	ADV
cblr-1711	179	56	in	in	ADP
cblr-1711	179	57	2017,80	2017,80	NOUN
cblr-1711	179	58	but	but	CCONJ
cblr-1711	179	59	egcs	egcs	PROPN
cblr-1711	179	60	remained	remain	VERB
cblr-1711	179	61	a	a	DET
cblr-1711	179	62	significant	significant	ADJ
cblr-1711	179	63	“	"	PUNCT
cblr-1711	179	64	proportion	proportion	NOUN
cblr-1711	179	65	of	of	ADP
cblr-1711	179	66	companies	company	NOUN
cblr-1711	179	67	pricing	price	VERB
cblr-1711	179	68	ipos	ipos	PROPN
cblr-1711	179	69	,	,	PUNCT
cblr-1711	179	70	demonstrating	demonstrate	VERB
cblr-1711	179	71	the	the	DET
cblr-1711	179	72	lasting	last	VERB
cblr-1711	179	73	effect	effect	NOUN
cblr-1711	179	74	of	of	ADP
cblr-1711	179	75	the	the	DET
cblr-1711	179	76	jobs	job	NOUN
cblr-1711	179	77	act	act	VERB
cblr-1711	179	78	on	on	ADP
cblr-1711	179	79	the	the	DET
cblr-1711	179	80	public	public	ADJ
cblr-1711	179	81	market	market	NOUN
cblr-1711	179	82	.	.	PUNCT
cblr-1711	180	1	”81	”81	NOUN
cblr-1711	180	2	descriptive	descriptive	ADJ
cblr-1711	180	3	evidence	evidence	NOUN
cblr-1711	180	4	of	of	ADP
cblr-1711	180	5	the	the	DET
cblr-1711	180	6	companies	company	NOUN
cblr-1711	180	7	going	go	VERB
cblr-1711	180	8	public	public	ADJ
cblr-1711	180	9	around	around	ADP
cblr-1711	180	10	the	the	DET
cblr-1711	180	11	enactment	enactment	NOUN
cblr-1711	180	12	of	of	ADP
cblr-1711	180	13	the	the	DET
cblr-1711	180	14	jobs	job	NOUN
cblr-1711	180	15	act	act	NOUN
cblr-1711	180	16	suggested	suggest	VERB
cblr-1711	180	17	that	that	SCONJ
cblr-1711	180	18	the	the	DET
cblr-1711	180	19	biotech	biotech	ADJ
cblr-1711	180	20	industry	industry	NOUN
cblr-1711	180	21	was	be	AUX
cblr-1711	180	22	largely	largely	ADV
cblr-1711	180	23	responsible	responsible	ADJ
cblr-1711	180	24	for	for	ADP
cblr-1711	180	25	the	the	DET
cblr-1711	180	26	post	post	ADJ
cblr-1711	180	27	-	-	ADJ
cblr-1711	180	28	jobs	job	NOUN
cblr-1711	180	29	act	act	NOUN
cblr-1711	180	30	increase	increase	NOUN
cblr-1711	180	31	in	in	ADP
cblr-1711	180	32	ipos.82	ipos.82	PROPN
cblr-1711	180	33	however	however	ADV
cblr-1711	180	34	,	,	PUNCT
cblr-1711	180	35	a	a	DET
cblr-1711	180	36	study	study	NOUN
cblr-1711	180	37	sampling	sample	VERB
cblr-1711	180	38	ipo	ipo	NOUN
cblr-1711	180	39	activity	activity	NOUN
cblr-1711	180	40	from	from	ADP
cblr-1711	180	41	january	january	PROPN
cblr-1711	180	42	2001	2001	NUM
cblr-1711	180	43	to	to	ADP
cblr-1711	180	44	march	march	PROPN
cblr-1711	180	45	2014	2014	NUM
cblr-1711	180	46	found	find	VERB
cblr-1711	180	47	that	that	SCONJ
cblr-1711	180	48	the	the	DET
cblr-1711	180	49	primary	primary	ADJ
cblr-1711	180	50	78	78	NUM
cblr-1711	180	51	i	i	PROPN
cblr-1711	180	52	d.	d.	PROPN
cblr-1711	180	53	(	(	PUNCT
cblr-1711	180	54	attributing	attribute	VERB
cblr-1711	180	55	growth	growth	NOUN
cblr-1711	180	56	in	in	ADP
cblr-1711	180	57	ipo	ipo	NOUN
cblr-1711	180	58	activity	activity	NOUN
cblr-1711	180	59	in	in	ADP
cblr-1711	180	60	part	part	NOUN
cblr-1711	180	61	to	to	ADP
cblr-1711	180	62	market	market	NOUN
cblr-1711	180	63	recovery	recovery	NOUN
cblr-1711	180	64	since	since	SCONJ
cblr-1711	180	65	the	the	DET
cblr-1711	180	66	recession	recession	NOUN
cblr-1711	180	67	)	)	PUNCT
cblr-1711	180	68	;	;	PUNCT
cblr-1711	180	69	see	see	VERB
cblr-1711	180	70	also	also	ADV
cblr-1711	180	71	five	five	NUM
cblr-1711	180	72	years	year	NOUN
cblr-1711	180	73	later	later	ADV
cblr-1711	180	74	:	:	PUNCT
cblr-1711	180	75	did	do	AUX
cblr-1711	180	76	the	the	DET
cblr-1711	180	77	jobs	job	NOUN
cblr-1711	180	78	act	act	VERB
cblr-1711	180	79	change	change	VERB
cblr-1711	180	80	the	the	DET
cblr-1711	180	81	ipo	ipo	NOUN
cblr-1711	180	82	market	market	NOUN
cblr-1711	180	83	(	(	PUNCT
cblr-1711	180	84	or	or	CCONJ
cblr-1711	180	85	did	do	AUX
cblr-1711	180	86	the	the	DET
cblr-1711	180	87	ipo	ipo	NOUN
cblr-1711	180	88	market	market	NOUN
cblr-1711	180	89	change	change	VERB
cblr-1711	180	90	the	the	DET
cblr-1711	180	91	jobs	job	NOUN
cblr-1711	180	92	act	act	PROPN
cblr-1711	180	93	)	)	PUNCT
cblr-1711	180	94	?	?	PUNCT
cblr-1711	181	1	,	,	PUNCT
cblr-1711	181	2	fin	fin	NOUN
cblr-1711	181	3	.	.	PUNCT
cblr-1711	182	1	executives	executive	NOUN
cblr-1711	182	2	int’l	int’l	PRON
cblr-1711	182	3	(	(	PUNCT
cblr-1711	182	4	feb	feb	PROPN
cblr-1711	182	5	.	.	PROPN
cblr-1711	182	6	24	24	NUM
cblr-1711	182	7	,	,	PUNCT
cblr-1711	182	8	2017	2017	NUM
cblr-1711	182	9	)	)	PUNCT
cblr-1711	182	10	,	,	PUNCT
cblr-1711	182	11	https://www.financialexecutives.org/	https://www.financialexecutives.org/	NOUN
cblr-1711	182	12	research	research	NOUN
cblr-1711	182	13	/	/	SYM
cblr-1711	182	14	news/2017	news/2017	NOUN
cblr-1711	182	15	/	/	SYM
cblr-1711	182	16	five	five	NUM
cblr-1711	182	17	-	-	PUNCT
cblr-1711	182	18	years	year	NOUN
cblr-1711	182	19	-	-	PUNCT
cblr-1711	182	20	later	later	ADV
cblr-1711	182	21	-	-	PUNCT
cblr-1711	182	22	did	do	VERB
cblr-1711	182	23	-	-	PUNCT
cblr-1711	182	24	the	the	DET
cblr-1711	182	25	-	-	PUNCT
cblr-1711	182	26	jobs	job	NOUN
cblr-1711	182	27	-	-	PUNCT
cblr-1711	182	28	act	act	NOUN
cblr-1711	182	29	-	-	PUNCT
cblr-1711	182	30	change	change	NOUN
cblr-1711	182	31	-	-	PUNCT
cblr-1711	182	32	theipo.aspx	theipo.aspx	NOUN
cblr-1711	182	33	[	[	X
cblr-1711	182	34	https://perma.cc/xj4t-y8wp	https://perma.cc/xj4t-y8wp	X
cblr-1711	182	35	]	]	X
cblr-1711	182	36	(	(	PUNCT
cblr-1711	182	37	suggesting	suggest	VERB
cblr-1711	182	38	that	that	SCONJ
cblr-1711	182	39	if	if	SCONJ
cblr-1711	182	40	a	a	DET
cblr-1711	182	41	company	company	NOUN
cblr-1711	182	42	was	be	AUX
cblr-1711	182	43	already	already	ADV
cblr-1711	182	44	planning	plan	VERB
cblr-1711	182	45	to	to	PART
cblr-1711	182	46	go	go	VERB
cblr-1711	182	47	public	public	ADJ
cblr-1711	182	48	,	,	PUNCT
cblr-1711	182	49	passage	passage	NOUN
cblr-1711	182	50	of	of	ADP
cblr-1711	182	51	the	the	DET
cblr-1711	182	52	act	act	NOUN
cblr-1711	182	53	was	be	AUX
cblr-1711	182	54	neither	neither	CCONJ
cblr-1711	182	55	the	the	DET
cblr-1711	182	56	trigger	trigger	NOUN
cblr-1711	182	57	nor	nor	CCONJ
cblr-1711	182	58	the	the	DET
cblr-1711	182	59	but	but	CCONJ
cblr-1711	182	60	-	-	PUNCT
cblr-1711	182	61	for	for	ADP
cblr-1711	182	62	cause	cause	NOUN
cblr-1711	182	63	of	of	ADP
cblr-1711	182	64	the	the	DET
cblr-1711	182	65	company	company	NOUN
cblr-1711	182	66	going	go	VERB
cblr-1711	182	67	public	public	ADJ
cblr-1711	182	68	)	)	PUNCT
cblr-1711	182	69	.	.	PUNCT
cblr-1711	183	1	but	but	CCONJ
cblr-1711	183	2	see	see	VERB
cblr-1711	183	3	michael	michael	PROPN
cblr-1711	183	4	j.	j.	PROPN
cblr-1711	183	5	zeidel	zeidel	PROPN
cblr-1711	183	6	,	,	PUNCT
cblr-1711	183	7	the	the	DET
cblr-1711	183	8	jobs	job	NOUN
cblr-1711	183	9	act	act	PROPN
cblr-1711	183	10	:	:	PUNCT
cblr-1711	183	11	did	do	AUX
cblr-1711	183	12	it	it	PRON
cblr-1711	183	13	accomplish	accomplish	VERB
cblr-1711	183	14	its	its	PRON
cblr-1711	183	15	goals	goal	NOUN
cblr-1711	183	16	?	?	PUNCT
cblr-1711	183	17	,	,	PUNCT
cblr-1711	183	18	harv	harv	PROPN
cblr-1711	183	19	.	.	PUNCT
cblr-1711	184	1	l.	l.	PROPN
cblr-1711	184	2	sch	sch	PROPN
cblr-1711	184	3	.	.	PUNCT
cblr-1711	185	1	f.	f.	PROPN
cblr-1711	185	2	on	on	ADP
cblr-1711	185	3	corp	corp	PROPN
cblr-1711	185	4	.	.	PROPN
cblr-1711	185	5	governance	governance	PROPN
cblr-1711	185	6	&	&	CCONJ
cblr-1711	185	7	fin	fin	PROPN
cblr-1711	185	8	.	.	PUNCT
cblr-1711	186	1	reg	reg	PROPN
cblr-1711	186	2	.	.	PUNCT
cblr-1711	187	1	(	(	PUNCT
cblr-1711	187	2	july	july	PROPN
cblr-1711	187	3	18	18	NUM
cblr-1711	187	4	,	,	PUNCT
cblr-1711	187	5	2016	2016	NUM
cblr-1711	187	6	)	)	PUNCT
cblr-1711	187	7	,	,	PUNCT
cblr-1711	187	8	https://corpgov.law.harvard.edu/2016/07/18/the-jobs-act-did-it-accomplishits-goals/	https://corpgov.law.harvard.edu/2016/07/18/the-jobs-act-did-it-accomplishits-goals/	PROPN
cblr-1711	187	9	[	[	X
cblr-1711	187	10	https://perma.cc/wk43-d32v	https://perma.cc/wk43-d32v	X
cblr-1711	187	11	]	]	X
cblr-1711	187	12	(	(	PUNCT
cblr-1711	187	13	“	"	PUNCT
cblr-1711	187	14	egcs	egcs	VERB
cblr-1711	187	15	taking	take	VERB
cblr-1711	187	16	advantage	advantage	NOUN
cblr-1711	187	17	of	of	ADP
cblr-1711	187	18	the	the	DET
cblr-1711	187	19	reduced	reduce	VERB
cblr-1711	187	20	regulatory	regulatory	ADJ
cblr-1711	187	21	requirements	requirement	NOUN
cblr-1711	187	22	notably	notably	ADV
cblr-1711	187	23	have	have	AUX
cblr-1711	187	24	contributed	contribute	VERB
cblr-1711	187	25	to	to	ADP
cblr-1711	187	26	an	an	DET
cblr-1711	187	27	increase	increase	NOUN
cblr-1711	187	28	in	in	ADP
cblr-1711	187	29	the	the	DET
cblr-1711	187	30	number	number	NOUN
cblr-1711	187	31	of	of	ADP
cblr-1711	187	32	ipos	ipos	NOUN
cblr-1711	187	33	.	.	PUNCT
cblr-1711	187	34	”	"	PUNCT
cblr-1711	187	35	)	)	PUNCT
cblr-1711	187	36	.	.	PUNCT
cblr-1711	188	1	79	79	NUM
cblr-1711	188	2	zeidel	zeidel	PROPN
cblr-1711	188	3	,	,	PUNCT
cblr-1711	188	4	supra	supra	PROPN
cblr-1711	188	5	note	note	NOUN
cblr-1711	188	6	78	78	NUM
cblr-1711	188	7	.	.	PUNCT
cblr-1711	189	1	in	in	ADP
cblr-1711	189	2	2013	2013	NUM
cblr-1711	189	3	,	,	PUNCT
cblr-1711	189	4	a	a	DET
cblr-1711	189	5	year	year	NOUN
cblr-1711	189	6	after	after	ADP
cblr-1711	189	7	passage	passage	NOUN
cblr-1711	189	8	of	of	ADP
cblr-1711	189	9	the	the	DET
cblr-1711	189	10	jobs	job	NOUN
cblr-1711	189	11	act	act	PROPN
cblr-1711	189	12	,	,	PUNCT
cblr-1711	189	13	the	the	DET
cblr-1711	189	14	number	number	NOUN
cblr-1711	189	15	of	of	ADP
cblr-1711	189	16	ipos	ipos	NOUN
cblr-1711	189	17	increased	increase	VERB
cblr-1711	189	18	from	from	ADP
cblr-1711	189	19	128	128	NUM
cblr-1711	189	20	in	in	ADP
cblr-1711	189	21	2012	2012	NUM
cblr-1711	189	22	to	to	ADP
cblr-1711	189	23	222	222	NUM
cblr-1711	189	24	,	,	PUNCT
cblr-1711	189	25	and	and	CCONJ
cblr-1711	189	26	the	the	DET
cblr-1711	189	27	proceeds	proceed	NOUN
cblr-1711	189	28	from	from	ADP
cblr-1711	189	29	ipos	ipos	NOUN
cblr-1711	189	30	increased	increase	VERB
cblr-1711	189	31	from	from	ADP
cblr-1711	189	32	$	$	SYM
cblr-1711	189	33	43.9	43.9	NUM
cblr-1711	189	34	billion	billion	NUM
cblr-1711	189	35	to	to	PART
cblr-1711	189	36	$	$	SYM
cblr-1711	189	37	71.9	71.9	NUM
cblr-1711	189	38	billion	billion	NUM
cblr-1711	189	39	.	.	PUNCT
cblr-1711	190	1	in	in	ADP
cblr-1711	190	2	2014	2014	NUM
cblr-1711	190	3	,	,	PUNCT
cblr-1711	190	4	there	there	PRON
cblr-1711	190	5	were	be	VERB
cblr-1711	190	6	275	275	NUM
cblr-1711	190	7	ipos	ipos	NOUN
cblr-1711	190	8	accounting	account	VERB
cblr-1711	190	9	for	for	ADP
cblr-1711	190	10	$	$	SYM
cblr-1711	190	11	90	90	NUM
cblr-1711	190	12	billion	billion	NUM
cblr-1711	190	13	in	in	ADP
cblr-1711	190	14	total	total	ADJ
cblr-1711	190	15	proceeds	proceed	NOUN
cblr-1711	190	16	,	,	PUNCT
cblr-1711	190	17	the	the	DET
cblr-1711	190	18	high	high	NOUN
cblr-1711	190	19	for	for	ADP
cblr-1711	190	20	each	each	DET
cblr-1711	190	21	figure	figure	NOUN
cblr-1711	190	22	for	for	ADP
cblr-1711	190	23	the	the	DET
cblr-1711	190	24	ten	ten	NUM
cblr-1711	190	25	-	-	PUNCT
cblr-1711	190	26	year	year	NOUN
cblr-1711	190	27	period	period	NOUN
cblr-1711	190	28	from	from	ADP
cblr-1711	190	29	2008	2008	NUM
cblr-1711	190	30	to	to	ADP
cblr-1711	190	31	2017	2017	NUM
cblr-1711	190	32	.	.	PUNCT
cblr-1711	191	1	ipo	ipo	NOUN
cblr-1711	191	2	market	market	NOUN
cblr-1711	191	3	stats	stat	NOUN
cblr-1711	191	4	,	,	PUNCT
cblr-1711	191	5	renaissance	renaissance	NOUN
cblr-1711	191	6	cap	cap	NOUN
cblr-1711	191	7	.	.	PUNCT
cblr-1711	192	1	[	[	X
cblr-1711	192	2	hereinafter	hereinafter	NOUN
cblr-1711	192	3	ipo	ipo	NOUN
cblr-1711	192	4	market	market	NOUN
cblr-1711	192	5	stats	stat	NOUN
cblr-1711	192	6	]	]	PUNCT
cblr-1711	192	7	,	,	PUNCT
cblr-1711	192	8	http://www.renaissancecapital.com/	http://www.renaissancecapital.com/	ADJ
cblr-1711	192	9	ipo	ipo	NOUN
cblr-1711	192	10	-	-	PUNCT
cblr-1711	192	11	center	center	NOUN
cblr-1711	192	12	/	/	SYM
cblr-1711	192	13	stats	stat	NOUN
cblr-1711	192	14	[	[	X
cblr-1711	192	15	https://perma.cc/92mc-dncq	https://perma.cc/92mc-dncq	X
cblr-1711	192	16	]	]	X
cblr-1711	192	17	.	.	PUNCT
cblr-1711	193	1	80	80	NUM
cblr-1711	193	2	ipo	ipo	NOUN
cblr-1711	193	3	market	market	NOUN
cblr-1711	193	4	stats	stat	NOUN
cblr-1711	193	5	,	,	PUNCT
cblr-1711	193	6	supra	supra	PROPN
cblr-1711	193	7	note	note	NOUN
cblr-1711	193	8	79	79	NUM
cblr-1711	193	9	.	.	PUNCT
cblr-1711	194	1	81	81	NUM
cblr-1711	194	2	zeidel	zeidel	PROPN
cblr-1711	194	3	,	,	PUNCT
cblr-1711	194	4	supra	supra	PROPN
cblr-1711	194	5	note	note	NOUN
cblr-1711	194	6	78	78	NUM
cblr-1711	194	7	.	.	PUNCT
cblr-1711	195	1	82	82	NUM
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cblr-1711	195	3	dambra	dambra	PROPN
cblr-1711	195	4	,	,	PUNCT
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cblr-1711	195	11	,	,	PUNCT
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cblr-1711	195	16	ipo	ipo	PROPN
cblr-1711	195	17	volume	volume	NOUN
cblr-1711	195	18	:	:	PUNCT
cblr-1711	195	19	evidence	evidence	NOUN
cblr-1711	195	20	that	that	SCONJ
cblr-1711	195	21	disclosure	disclosure	NOUN
cblr-1711	195	22	costs	cost	NOUN
cblr-1711	195	23	affect	affect	VERB
cblr-1711	195	24	the	the	DET
cblr-1711	195	25	ipo	ipo	NOUN
cblr-1711	195	26	decision	decision	NOUN
cblr-1711	195	27	,	,	PUNCT
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cblr-1711	195	29	j.	j.	PROPN
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cblr-1711	195	31	.	.	PUNCT
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cblr-1711	195	33	.	.	PUNCT
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cblr-1711	196	2	,	,	PUNCT
cblr-1711	196	3	122	122	NUM
cblr-1711	196	4	(	(	PUNCT
cblr-1711	196	5	2015	2015	NUM
cblr-1711	196	6	)	)	PUNCT
cblr-1711	196	7	;	;	PUNCT
cblr-1711	196	8	see	see	VERB
cblr-1711	196	9	also	also	ADV
cblr-1711	196	10	zanki	zanki	PROPN
cblr-1711	196	11	,	,	PUNCT
cblr-1711	196	12	supra	supra	PROPN
cblr-1711	196	13	note	note	PROPN
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cblr-1711	196	15	(	(	PUNCT
cblr-1711	196	16	describing	describe	VERB
cblr-1711	196	17	biotech	biotech	NOUN
cblr-1711	196	18	as	as	ADP
cblr-1711	196	19	a	a	DET
cblr-1711	196	20	“	"	PUNCT
cblr-1711	196	21	capital	capital	NOUN
cblr-1711	196	22	-	-	PUNCT
cblr-1711	196	23	hungry	hungry	ADJ
cblr-1711	196	24	industry	industry	NOUN
cblr-1711	196	25	that	that	PRON
cblr-1711	196	26	often	often	ADV
cblr-1711	196	27	lacks	lack	VERB
cblr-1711	196	28	product	product	NOUN
cblr-1711	196	29	revenue	revenue	NOUN
cblr-1711	196	30	and	and	CCONJ
cblr-1711	196	31	taps	tap	NOUN
cblr-1711	196	32	markets	market	NOUN
cblr-1711	196	33	more	more	ADV
cblr-1711	196	34	frequently	frequently	ADV
cblr-1711	196	35	.	.	PUNCT
cblr-1711	196	36	”	"	PUNCT
cblr-1711	196	37	)	)	PUNCT
cblr-1711	196	38	.	.	PUNCT
cblr-1711	197	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	197	2	1076	1076	NUM
cblr-1711	197	3	columbia	columbia	PROPN
cblr-1711	197	4	business	business	NOUN
cblr-1711	197	5	law	law	PROPN
cblr-1711	197	6	review	review	NOUN
cblr-1711	197	7	[	[	X
cblr-1711	197	8	vol	vol	NOUN
cblr-1711	197	9	.	.	NOUN
cblr-1711	197	10	2018	2018	NUM
cblr-1711	197	11	drivers	driver	NOUN
cblr-1711	197	12	of	of	ADP
cblr-1711	197	13	ipo	ipo	NOUN
cblr-1711	197	14	activity	activity	NOUN
cblr-1711	197	15	after	after	ADP
cblr-1711	197	16	enactment	enactment	NOUN
cblr-1711	197	17	of	of	ADP
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cblr-1711	197	24	in	in	ADP
cblr-1711	197	25	proprietary	proprietary	ADJ
cblr-1711	197	26	disclosure	disclosure	NOUN
cblr-1711	197	27	costs	cost	NOUN
cblr-1711	197	28	and	and	CCONJ
cblr-1711	197	29	improved	improve	VERB
cblr-1711	197	30	market	market	NOUN
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cblr-1711	197	32	across	across	ADP
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cblr-1711	197	34	the	the	DET
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cblr-1711	197	36	showed	show	VERB
cblr-1711	197	37	that	that	SCONJ
cblr-1711	197	38	favorable	favorable	ADJ
cblr-1711	197	39	market	market	NOUN
cblr-1711	197	40	trends	trend	NOUN
cblr-1711	197	41	in	in	ADP
cblr-1711	197	42	the	the	DET
cblr-1711	197	43	biotech	biotech	ADJ
cblr-1711	197	44	industry	industry	NOUN
cblr-1711	197	45	explained	explain	VERB
cblr-1711	197	46	at	at	ADP
cblr-1711	197	47	least	least	ADJ
cblr-1711	197	48	one	one	NUM
cblr-1711	197	49	-	-	PUNCT
cblr-1711	197	50	third	third	NOUN
cblr-1711	197	51	of	of	ADP
cblr-1711	197	52	new	new	ADJ
cblr-1711	197	53	biotech	biotech	ADJ
cblr-1711	197	54	ipos	ipos	NOUN
cblr-1711	197	55	after	after	ADP
cblr-1711	197	56	enactment	enactment	NOUN
cblr-1711	197	57	,	,	PUNCT
cblr-1711	197	58	whereas	whereas	SCONJ
cblr-1711	197	59	favorable	favorable	ADJ
cblr-1711	197	60	market	market	NOUN
cblr-1711	197	61	conditions	condition	NOUN
cblr-1711	197	62	in	in	ADP
cblr-1711	197	63	other	other	ADJ
cblr-1711	197	64	industries	industry	NOUN
cblr-1711	197	65	could	could	AUX
cblr-1711	197	66	only	only	ADV
cblr-1711	197	67	account	account	VERB
cblr-1711	197	68	for	for	ADP
cblr-1711	197	69	ten	ten	NUM
cblr-1711	197	70	percent	percent	NOUN
cblr-1711	197	71	of	of	ADP
cblr-1711	197	72	other	other	ADJ
cblr-1711	197	73	industry	industry	NOUN
cblr-1711	197	74	ipos.84	ipos.84	PROPN
cblr-1711	197	75	though	though	SCONJ
cblr-1711	197	76	the	the	DET
cblr-1711	197	77	greatest	great	ADJ
cblr-1711	197	78	increase	increase	NOUN
cblr-1711	197	79	in	in	ADP
cblr-1711	197	80	ipo	ipo	NOUN
cblr-1711	197	81	market	market	NOUN
cblr-1711	197	82	volume	volume	NOUN
cblr-1711	197	83	is	be	AUX
cblr-1711	197	84	concentrated	concentrate	VERB
cblr-1711	197	85	in	in	ADP
cblr-1711	197	86	the	the	DET
cblr-1711	197	87	biotech	biotech	ADJ
cblr-1711	197	88	sector	sector	NOUN
cblr-1711	197	89	,	,	PUNCT
cblr-1711	197	90	the	the	DET
cblr-1711	197	91	number	number	NOUN
cblr-1711	197	92	of	of	ADP
cblr-1711	197	93	offerings	offering	NOUN
cblr-1711	197	94	across	across	ADP
cblr-1711	197	95	industries	industry	NOUN
cblr-1711	197	96	remains	remain	VERB
cblr-1711	197	97	far	far	ADV
cblr-1711	197	98	below	below	ADP
cblr-1711	197	99	the	the	DET
cblr-1711	197	100	level	level	NOUN
cblr-1711	197	101	prior	prior	ADV
cblr-1711	197	102	to	to	ADP
cblr-1711	197	103	2001.85	2001.85	NUM
cblr-1711	197	104	the	the	DET
cblr-1711	197	105	biotech	biotech	ADJ
cblr-1711	197	106	sector	sector	NOUN
cblr-1711	197	107	is	be	AUX
cblr-1711	197	108	particularly	particularly	ADV
cblr-1711	197	109	interesting	interesting	ADJ
cblr-1711	197	110	because	because	SCONJ
cblr-1711	197	111	the	the	DET
cblr-1711	197	112	value	value	NOUN
cblr-1711	197	113	of	of	ADP
cblr-1711	197	114	a	a	DET
cblr-1711	197	115	company	company	NOUN
cblr-1711	197	116	is	be	AUX
cblr-1711	197	117	heavily	heavily	ADV
cblr-1711	197	118	impacted	impact	VERB
cblr-1711	197	119	by	by	ADP
cblr-1711	197	120	the	the	DET
cblr-1711	197	121	research	research	NOUN
cblr-1711	197	122	cycle.86	cycle.86	PROPN
cblr-1711	197	123	along	along	ADP
cblr-1711	197	124	with	with	ADP
cblr-1711	197	125	capital	capital	NOUN
cblr-1711	197	126	formation	formation	NOUN
cblr-1711	197	127	,	,	PUNCT
cblr-1711	197	128	the	the	DET
cblr-1711	197	129	financial	financial	ADJ
cblr-1711	197	130	performance	performance	NOUN
cblr-1711	197	131	and	and	CCONJ
cblr-1711	197	132	staying	staying	NOUN
cblr-1711	197	133	power	power	NOUN
cblr-1711	197	134	of	of	ADP
cblr-1711	197	135	biotech	biotech	ADJ
cblr-1711	197	136	companies	company	NOUN
cblr-1711	197	137	are	be	AUX
cblr-1711	197	138	largely	largely	ADV
cblr-1711	197	139	dependent	dependent	ADJ
cblr-1711	197	140	on	on	ADP
cblr-1711	197	141	regulatory	regulatory	ADJ
cblr-1711	197	142	approval.87	approval.87	NOUN
cblr-1711	197	143	one	one	NUM
cblr-1711	197	144	of	of	ADP
cblr-1711	197	145	the	the	DET
cblr-1711	197	146	valuemaximizing	valuemaximizing	ADJ
cblr-1711	197	147	strategies	strategy	NOUN
cblr-1711	197	148	for	for	ADP
cblr-1711	197	149	biotech	biotech	ADJ
cblr-1711	197	150	companies	company	NOUN
cblr-1711	197	151	is	be	AUX
cblr-1711	197	152	to	to	PART
cblr-1711	197	153	go	go	VERB
cblr-1711	197	154	public	public	ADJ
cblr-1711	197	155	before	before	ADP
cblr-1711	197	156	being	be	AUX
cblr-1711	197	157	acquired	acquire	VERB
cblr-1711	197	158	by	by	ADP
cblr-1711	197	159	another	another	DET
cblr-1711	197	160	company,88	company,88	NOUN
cblr-1711	197	161	and	and	CCONJ
cblr-1711	197	162	regulatory	regulatory	ADJ
cblr-1711	197	163	approval	approval	NOUN
cblr-1711	197	164	can	can	AUX
cblr-1711	197	165	be	be	AUX
cblr-1711	197	166	a	a	DET
cblr-1711	197	167	major	major	ADJ
cblr-1711	197	168	factor	factor	NOUN
cblr-1711	197	169	in	in	ADP
cblr-1711	197	170	both	both	CCONJ
cblr-1711	197	171	the	the	DET
cblr-1711	197	172	company	company	NOUN
cblr-1711	197	173	’s	’s	PART
cblr-1711	197	174	potential	potential	ADJ
cblr-1711	197	175	ipo	ipo	NOUN
cblr-1711	197	176	and	and	CCONJ
cblr-1711	197	177	future	future	ADJ
cblr-1711	197	178	m&a	m&a	PROPN
cblr-1711	197	179	.	.	PUNCT
cblr-1711	198	1	while	while	SCONJ
cblr-1711	198	2	undergoing	undergo	VERB
cblr-1711	198	3	an	an	DET
cblr-1711	198	4	ipo	ipo	NOUN
cblr-1711	198	5	can	can	AUX
cblr-1711	198	6	act	act	VERB
cblr-1711	198	7	as	as	ADP
cblr-1711	198	8	a	a	DET
cblr-1711	198	9	signal	signal	NOUN
cblr-1711	198	10	of	of	ADP
cblr-1711	198	11	a	a	DET
cblr-1711	198	12	company	company	NOUN
cblr-1711	198	13	’s	’s	PART
cblr-1711	198	14	value,89	value,89	NOUN
cblr-1711	198	15	it	it	PRON
cblr-1711	198	16	is	be	AUX
cblr-1711	198	17	not	not	PART
cblr-1711	198	18	necessarily	necessarily	ADV
cblr-1711	198	19	the	the	DET
cblr-1711	198	20	case	case	NOUN
cblr-1711	198	21	that	that	SCONJ
cblr-1711	198	22	the	the	DET
cblr-1711	198	23	company	company	NOUN
cblr-1711	198	24	will	will	AUX
cblr-1711	198	25	be	be	AUX
cblr-1711	198	26	a	a	DET
cblr-1711	198	27	successful	successful	ADJ
cblr-1711	198	28	venture	venture	NOUN
cblr-1711	198	29	or	or	CCONJ
cblr-1711	198	30	that	that	SCONJ
cblr-1711	198	31	it	it	PRON
cblr-1711	198	32	has	have	AUX
cblr-1711	198	33	progressed	progress	VERB
cblr-1711	198	34	along	along	ADP
cblr-1711	198	35	the	the	DET
cblr-1711	198	36	research	research	NOUN
cblr-1711	198	37	timeline	timeline	NOUN
cblr-1711	198	38	or	or	CCONJ
cblr-1711	198	39	achieved	achieve	VERB
cblr-1711	198	40	any	any	DET
cblr-1711	198	41	sort	sort	NOUN
cblr-1711	198	42	of	of	ADP
cblr-1711	198	43	regulatory	regulatory	ADJ
cblr-1711	198	44	approval	approval	NOUN
cblr-1711	198	45	.	.	PUNCT
cblr-1711	199	1	furthermore	furthermore	ADV
cblr-1711	199	2	,	,	PUNCT
cblr-1711	199	3	egc	egc	PROPN
cblr-1711	199	4	is	be	AUX
cblr-1711	199	5	purely	purely	ADV
cblr-1711	199	6	a	a	DET
cblr-1711	199	7	securities	security	NOUN
cblr-1711	199	8	law	law	NOUN
cblr-1711	199	9	label	label	NOUN
cblr-1711	199	10	,	,	PUNCT
cblr-1711	199	11	not	not	PART
cblr-1711	199	12	an	an	DET
cblr-1711	199	13	indication	indication	NOUN
cblr-1711	199	14	of	of	ADP
cblr-1711	199	15	a	a	DET
cblr-1711	199	16	company	company	NOUN
cblr-1711	199	17	being	be	AUX
cblr-1711	199	18	innovative	innovative	ADJ
cblr-1711	199	19	or	or	CCONJ
cblr-1711	199	20	exciting	exciting	ADJ
cblr-1711	199	21	or	or	CCONJ
cblr-1711	199	22	,	,	PUNCT
cblr-1711	199	23	of	of	ADP
cblr-1711	199	24	course	course	NOUN
cblr-1711	199	25	,	,	PUNCT
cblr-1711	199	26	being	be	AUX
cblr-1711	199	27	supported	support	VERB
cblr-1711	199	28	by	by	ADP
cblr-1711	199	29	science.90	science.90	ADV
cblr-1711	199	30	in	in	ADP
cblr-1711	199	31	fact	fact	NOUN
cblr-1711	199	32	,	,	PUNCT
cblr-1711	199	33	83	83	NUM
cblr-1711	199	34	dambra	dambra	NOUN
cblr-1711	199	35	et	et	PROPN
cblr-1711	199	36	al	al	PROPN
cblr-1711	199	37	.	.	PROPN
cblr-1711	199	38	,	,	PUNCT
cblr-1711	199	39	supra	supra	PROPN
cblr-1711	199	40	note	note	PROPN
cblr-1711	199	41	82	82	NUM
cblr-1711	199	42	,	,	PUNCT
cblr-1711	199	43	at	at	ADP
cblr-1711	199	44	122	122	NUM
cblr-1711	199	45	.	.	PUNCT
cblr-1711	199	46	84	84	NUM
cblr-1711	200	1	i	i	PRON
cblr-1711	200	2	d.	d.	PROPN
cblr-1711	200	3	85	85	NUM
cblr-1711	200	4	i	i	PROPN
cblr-1711	200	5	d.	d.	PROPN
cblr-1711	200	6	;	;	PUNCT
cblr-1711	200	7	see	see	VERB
cblr-1711	200	8	also	also	ADV
cblr-1711	200	9	zanki	zanki	PROPN
cblr-1711	200	10	,	,	PUNCT
cblr-1711	200	11	supra	supra	PROPN
cblr-1711	200	12	note	note	PROPN
cblr-1711	200	13	54	54	NUM
cblr-1711	200	14	.	.	NUM
cblr-1711	200	15	86	86	NUM
cblr-1711	201	1	the	the	DET
cblr-1711	201	2	jobs	job	NOUN
cblr-1711	201	3	act	act	VERB
cblr-1711	201	4	at	at	ADP
cblr-1711	201	5	five	five	NUM
cblr-1711	201	6	:	:	PUNCT
cblr-1711	201	7	examining	examine	VERB
cblr-1711	201	8	its	its	PRON
cblr-1711	201	9	impact	impact	NOUN
cblr-1711	201	10	and	and	CCONJ
cblr-1711	201	11	ensuring	ensure	VERB
cblr-1711	201	12	the	the	DET
cblr-1711	201	13	competitiveness	competitiveness	NOUN
cblr-1711	201	14	of	of	ADP
cblr-1711	201	15	the	the	DET
cblr-1711	201	16	u.s	u.s	PROPN
cblr-1711	201	17	.	.	PROPN
cblr-1711	201	18	capital	capital	NOUN
cblr-1711	201	19	markets	market	NOUN
cblr-1711	201	20	:	:	PUNCT
cblr-1711	201	21	hearing	hear	VERB
cblr-1711	201	22	before	before	ADP
cblr-1711	201	23	the	the	DET
cblr-1711	201	24	h.	h.	PROPN
cblr-1711	201	25	subcomm	subcomm	PROPN
cblr-1711	201	26	.	.	PUNCT
cblr-1711	202	1	on	on	ADP
cblr-1711	202	2	capital	capital	NOUN
cblr-1711	202	3	mkts	mkts	NOUN
cblr-1711	202	4	.	.	PUNCT
cblr-1711	202	5	,	,	PUNCT
cblr-1711	202	6	sec	sec	PROPN
cblr-1711	202	7	.	.	PROPN
cblr-1711	202	8	&	&	CCONJ
cblr-1711	202	9	inv	inv	PROPN
cblr-1711	202	10	.	.	PUNCT
cblr-1711	203	1	of	of	ADP
cblr-1711	203	2	the	the	DET
cblr-1711	203	3	h.	h.	PROPN
cblr-1711	203	4	comm	comm	NOUN
cblr-1711	203	5	.	.	PUNCT
cblr-1711	204	1	on	on	ADP
cblr-1711	204	2	fin	fin	NOUN
cblr-1711	204	3	.	.	PUNCT
cblr-1711	205	1	servs	servs	PROPN
cblr-1711	205	2	.	.	PROPN
cblr-1711	205	3	,	,	PUNCT
cblr-1711	205	4	115th	115th	PROPN
cblr-1711	205	5	cong	cong	NOUN
cblr-1711	205	6	.	.	PUNCT
cblr-1711	206	1	5	5	NUM
cblr-1711	206	2	(	(	PUNCT
cblr-1711	206	3	2017	2017	NUM
cblr-1711	206	4	)	)	PUNCT
cblr-1711	206	5	(	(	PUNCT
cblr-1711	206	6	statement	statement	NOUN
cblr-1711	206	7	of	of	ADP
cblr-1711	206	8	andy	andy	PROPN
cblr-1711	206	9	green	green	PROPN
cblr-1711	206	10	,	,	PUNCT
cblr-1711	206	11	managing	managing	NOUN
cblr-1711	206	12	director	director	NOUN
cblr-1711	206	13	,	,	PUNCT
cblr-1711	206	14	economic	economic	ADJ
cblr-1711	206	15	policy	policy	NOUN
cblr-1711	206	16	center	center	NOUN
cblr-1711	206	17	for	for	ADP
cblr-1711	206	18	american	american	ADJ
cblr-1711	206	19	progress	progress	NOUN
cblr-1711	206	20	)	)	PUNCT
cblr-1711	207	1	[	[	X
cblr-1711	207	2	hereinafter	hereinafter	NOUN
cblr-1711	207	3	statement	statement	NOUN
cblr-1711	207	4	of	of	ADP
cblr-1711	207	5	green	green	NOUN
cblr-1711	207	6	]	]	X
cblr-1711	207	7	,	,	PUNCT
cblr-1711	207	8	https://financialservices.house.gov/uploadedfiles/hhrg-115-ba16wstate-agreen-20170322.pdf	https://financialservices.house.gov/uploadedfiles/hhrg-115-ba16wstate-agreen-20170322.pdf	PROPN
cblr-1711	207	9	[	[	X
cblr-1711	207	10	https://perma.cc/u422-ep6d	https://perma.cc/u422-ep6d	X
cblr-1711	207	11	]	]	X
cblr-1711	207	12	.	.	PUNCT
cblr-1711	208	1	87	87	NUM
cblr-1711	208	2	see	see	VERB
cblr-1711	208	3	i	i	PRON
cblr-1711	208	4	d.	d.	PROPN
cblr-1711	208	5	88	88	NUM
cblr-1711	208	6	see	see	VERB
cblr-1711	208	7	i	i	PROPN
cblr-1711	208	8	d.	d.	PROPN
cblr-1711	208	9	89	89	NUM
cblr-1711	208	10	see	see	VERB
cblr-1711	208	11	scott	scott	PROPN
cblr-1711	208	12	,	,	PUNCT
cblr-1711	208	13	supra	supra	PROPN
cblr-1711	208	14	note	note	PROPN
cblr-1711	208	15	13	13	NUM
cblr-1711	208	16	,	,	PUNCT
cblr-1711	208	17	at	at	ADP
cblr-1711	208	18	368	368	NUM
cblr-1711	208	19	.	.	PUNCT
cblr-1711	209	1	90	90	NUM
cblr-1711	209	2	statement	statement	NOUN
cblr-1711	209	3	of	of	ADP
cblr-1711	209	4	green	green	ADJ
cblr-1711	209	5	,	,	PUNCT
cblr-1711	209	6	supra	supra	PROPN
cblr-1711	209	7	note	note	PROPN
cblr-1711	209	8	86	86	NUM
cblr-1711	209	9	,	,	PUNCT
cblr-1711	209	10	at	at	ADP
cblr-1711	209	11	3	3	NUM
cblr-1711	209	12	.	.	X
cblr-1711	209	13	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	209	14	no	no	NOUN
cblr-1711	209	15	.	.	NOUN
cblr-1711	210	1	3:1060	3:1060	NUM
cblr-1711	210	2	]	]	X
cblr-1711	210	3	biotech	biotech	NOUN
cblr-1711	210	4	crowdfunding	crowdfunde	VERB
cblr-1711	210	5	1077	1077	NUM
cblr-1711	210	6	another	another	DET
cblr-1711	210	7	study	study	NOUN
cblr-1711	210	8	found	find	VERB
cblr-1711	210	9	that	that	SCONJ
cblr-1711	210	10	,	,	PUNCT
cblr-1711	210	11	as	as	ADP
cblr-1711	210	12	of	of	ADP
cblr-1711	210	13	mid-2016	mid-2016	NOUN
cblr-1711	210	14	,	,	PUNCT
cblr-1711	210	15	nearly	nearly	ADV
cblr-1711	210	16	half	half	NOUN
cblr-1711	210	17	of	of	ADP
cblr-1711	210	18	egc	egc	ADJ
cblr-1711	210	19	filers	filer	NOUN
cblr-1711	210	20	by	by	ADP
cblr-1711	210	21	assets	asset	NOUN
cblr-1711	210	22	were	be	AUX
cblr-1711	210	23	“	"	PUNCT
cblr-1711	210	24	real	real	ADJ
cblr-1711	210	25	estate	estate	NOUN
cblr-1711	210	26	investment	investment	NOUN
cblr-1711	210	27	trusts	trust	NOUN
cblr-1711	210	28	,	,	PUNCT
cblr-1711	210	29	state	state	NOUN
cblr-1711	210	30	and	and	CCONJ
cblr-1711	210	31	federally	federally	ADV
cblr-1711	210	32	-	-	PUNCT
cblr-1711	210	33	chartered	charter	VERB
cblr-1711	210	34	commercial	commercial	ADJ
cblr-1711	210	35	and	and	CCONJ
cblr-1711	210	36	savings	saving	NOUN
cblr-1711	210	37	banks	bank	NOUN
cblr-1711	210	38	,	,	PUNCT
cblr-1711	210	39	and	and	CCONJ
cblr-1711	210	40	pharmaceutical	pharmaceutical	ADJ
cblr-1711	210	41	preparations	preparation	NOUN
cblr-1711	210	42	.	.	PUNCT
cblr-1711	211	1	”91	”91	NOUN
cblr-1711	212	1	if	if	SCONJ
cblr-1711	212	2	the	the	DET
cblr-1711	212	3	relaxed	relaxed	ADJ
cblr-1711	212	4	regulations	regulation	NOUN
cblr-1711	212	5	set	set	VERB
cblr-1711	212	6	forth	forth	ADP
cblr-1711	212	7	by	by	ADP
cblr-1711	212	8	the	the	DET
cblr-1711	212	9	jobs	job	NOUN
cblr-1711	212	10	act	act	NOUN
cblr-1711	212	11	incentivize	incentivize	VERB
cblr-1711	212	12	companies	company	NOUN
cblr-1711	212	13	to	to	PART
cblr-1711	212	14	undergo	undergo	VERB
cblr-1711	212	15	ipos	ipos	NOUN
cblr-1711	212	16	before	before	SCONJ
cblr-1711	212	17	they	they	PRON
cblr-1711	212	18	are	be	AUX
cblr-1711	212	19	ready	ready	ADJ
cblr-1711	212	20	,	,	PUNCT
cblr-1711	212	21	or	or	CCONJ
cblr-1711	212	22	because	because	SCONJ
cblr-1711	212	23	they	they	PRON
cblr-1711	212	24	are	be	AUX
cblr-1711	212	25	unable	unable	ADJ
cblr-1711	212	26	to	to	PART
cblr-1711	212	27	find	find	VERB
cblr-1711	212	28	a	a	DET
cblr-1711	212	29	purchaser	purchaser	NOUN
cblr-1711	212	30	in	in	ADP
cblr-1711	212	31	the	the	DET
cblr-1711	212	32	acquisition	acquisition	NOUN
cblr-1711	212	33	market	market	NOUN
cblr-1711	212	34	,	,	PUNCT
cblr-1711	212	35	the	the	DET
cblr-1711	212	36	egc	egc	NOUN
cblr-1711	212	37	could	could	AUX
cblr-1711	212	38	be	be	AUX
cblr-1711	212	39	of	of	ADP
cblr-1711	212	40	lower	low	ADJ
cblr-1711	212	41	quality	quality	NOUN
cblr-1711	212	42	from	from	ADP
cblr-1711	212	43	an	an	DET
cblr-1711	212	44	investment	investment	NOUN
cblr-1711	212	45	perspective.92	perspective.92	NOUN
cblr-1711	212	46	the	the	DET
cblr-1711	212	47	same	same	ADJ
cblr-1711	212	48	study	study	NOUN
cblr-1711	212	49	analyzing	analyze	VERB
cblr-1711	212	50	egcs	egcs	NOUN
cblr-1711	212	51	as	as	ADP
cblr-1711	212	52	of	of	ADP
cblr-1711	212	53	mid-2016	mid-2016	NOUN
cblr-1711	212	54	found	find	VERB
cblr-1711	212	55	material	material	NOUN
cblr-1711	212	56	weaknesses	weakness	NOUN
cblr-1711	212	57	in	in	ADP
cblr-1711	212	58	management	management	NOUN
cblr-1711	212	59	reports	report	NOUN
cblr-1711	212	60	on	on	ADP
cblr-1711	212	61	internal	internal	ADJ
cblr-1711	212	62	controls	control	NOUN
cblr-1711	212	63	in	in	ADP
cblr-1711	212	64	forty	forty	NUM
cblr-1711	212	65	-	-	PUNCT
cblr-1711	212	66	six	six	NUM
cblr-1711	212	67	percent	percent	NOUN
cblr-1711	212	68	of	of	ADP
cblr-1711	212	69	active	active	ADJ
cblr-1711	212	70	egc	egc	ADJ
cblr-1711	212	71	filers.93	filers.93	PROPN
cblr-1711	212	72	additionally	additionally	ADV
cblr-1711	212	73	,	,	PUNCT
cblr-1711	212	74	as	as	SCONJ
cblr-1711	212	75	the	the	DET
cblr-1711	212	76	theranos	theranos	PROPN
cblr-1711	212	77	example	example	NOUN
cblr-1711	212	78	illustrates	illustrate	VERB
cblr-1711	212	79	,	,	PUNCT
cblr-1711	212	80	reporting	reporting	NOUN
cblr-1711	212	81	issues	issue	NOUN
cblr-1711	212	82	are	be	AUX
cblr-1711	212	83	not	not	PART
cblr-1711	212	84	the	the	DET
cblr-1711	212	85	only	only	ADJ
cblr-1711	212	86	potential	potential	ADJ
cblr-1711	212	87	problems	problem	NOUN
cblr-1711	212	88	facing	face	VERB
cblr-1711	212	89	investors	investor	NOUN
cblr-1711	212	90	.	.	PUNCT
cblr-1711	213	1	the	the	DET
cblr-1711	213	2	company	company	NOUN
cblr-1711	213	3	’s	’s	PART
cblr-1711	213	4	product	product	NOUN
cblr-1711	213	5	quality	quality	NOUN
cblr-1711	213	6	,	,	PUNCT
cblr-1711	213	7	marketing	marketing	NOUN
cblr-1711	213	8	,	,	PUNCT
cblr-1711	213	9	and	and	CCONJ
cblr-1711	213	10	overall	overall	ADJ
cblr-1711	213	11	management	management	NOUN
cblr-1711	213	12	and	and	CCONJ
cblr-1711	213	13	strategy	strategy	NOUN
cblr-1711	213	14	are	be	AUX
cblr-1711	213	15	all	all	ADV
cblr-1711	213	16	critical	critical	ADJ
cblr-1711	213	17	to	to	ADP
cblr-1711	213	18	an	an	DET
cblr-1711	213	19	egc	egc	PROPN
cblr-1711	213	20	’s	’s	PART
cblr-1711	213	21	survival	survival	NOUN
cblr-1711	213	22	and	and	CCONJ
cblr-1711	213	23	success	success	NOUN
cblr-1711	213	24	.	.	PUNCT
cblr-1711	214	1	concerns	concern	NOUN
cblr-1711	214	2	surrounding	surround	VERB
cblr-1711	214	3	inferior	inferior	ADJ
cblr-1711	214	4	biotech	biotech	ADJ
cblr-1711	214	5	egcs	egcs	NOUN
cblr-1711	214	6	in	in	ADP
cblr-1711	214	7	the	the	DET
cblr-1711	214	8	ipo	ipo	NOUN
cblr-1711	214	9	market	market	NOUN
cblr-1711	214	10	are	be	AUX
cblr-1711	214	11	magnified	magnify	VERB
cblr-1711	214	12	when	when	SCONJ
cblr-1711	214	13	analyzing	analyze	VERB
cblr-1711	214	14	the	the	DET
cblr-1711	214	15	jobs	job	NOUN
cblr-1711	214	16	act	act	PROPN
cblr-1711	214	17	’s	’s	PART
cblr-1711	214	18	impact	impact	NOUN
cblr-1711	214	19	in	in	ADP
cblr-1711	214	20	the	the	DET
cblr-1711	214	21	biotech	biotech	ADJ
cblr-1711	214	22	crowdfunding	crowdfunding	NOUN
cblr-1711	214	23	market	market	NOUN
cblr-1711	214	24	,	,	PUNCT
cblr-1711	214	25	where	where	SCONJ
cblr-1711	214	26	investors	investor	NOUN
cblr-1711	214	27	are	be	AUX
cblr-1711	214	28	both	both	ADV
cblr-1711	214	29	unaccredited	unaccredited	ADJ
cblr-1711	214	30	and	and	CCONJ
cblr-1711	214	31	unsophisticated	unsophisticated	ADJ
cblr-1711	214	32	.	.	PUNCT
cblr-1711	215	1	iii	iii	X
cblr-1711	215	2	.	.	PUNCT
cblr-1711	216	1	crowdfunding	crowdfunde	VERB
cblr-1711	216	2	risk	risk	NOUN
cblr-1711	216	3	and	and	CCONJ
cblr-1711	216	4	protections	protection	NOUN
cblr-1711	216	5	a.	a.	NOUN
cblr-1711	216	6	challenges	challenge	NOUN
cblr-1711	216	7	for	for	ADP
cblr-1711	216	8	biotech	biotech	NOUN
cblr-1711	216	9	crowdfunding	crowdfunding	NOUN
cblr-1711	216	10	while	while	SCONJ
cblr-1711	216	11	the	the	DET
cblr-1711	216	12	jobs	job	NOUN
cblr-1711	216	13	act	act	VERB
cblr-1711	216	14	removed	remove	VERB
cblr-1711	216	15	certain	certain	ADJ
cblr-1711	216	16	initial	initial	ADJ
cblr-1711	216	17	challenges	challenge	NOUN
cblr-1711	216	18	to	to	ADP
cblr-1711	216	19	going	go	VERB
cblr-1711	216	20	public	public	ADJ
cblr-1711	216	21	,	,	PUNCT
cblr-1711	216	22	the	the	DET
cblr-1711	216	23	bulk	bulk	NOUN
cblr-1711	216	24	of	of	ADP
cblr-1711	216	25	the	the	DET
cblr-1711	216	26	act	act	NOUN
cblr-1711	216	27	outside	outside	ADP
cblr-1711	216	28	of	of	ADP
cblr-1711	216	29	title	title	NOUN
cblr-1711	216	30	i	i	PRON
cblr-1711	216	31	reduced	reduce	VERB
cblr-1711	216	32	obstacles	obstacle	NOUN
cblr-1711	216	33	to	to	ADP
cblr-1711	216	34	raising	raise	VERB
cblr-1711	216	35	private	private	ADJ
cblr-1711	216	36	capital	capital	NOUN
cblr-1711	216	37	,	,	PUNCT
cblr-1711	216	38	thus	thus	ADV
cblr-1711	216	39	allowing	allow	VERB
cblr-1711	216	40	companies	company	NOUN
cblr-1711	216	41	91	91	NUM
cblr-1711	217	1	i	i	PRON
cblr-1711	217	2	d.	d.	PROPN
cblr-1711	217	3	note	note	VERB
cblr-1711	217	4	that	that	SCONJ
cblr-1711	217	5	this	this	DET
cblr-1711	217	6	figure	figure	NOUN
cblr-1711	217	7	of	of	ADP
cblr-1711	217	8	percentage	percentage	NOUN
cblr-1711	217	9	of	of	ADP
cblr-1711	217	10	egc	egc	ADJ
cblr-1711	217	11	filers	filer	NOUN
cblr-1711	217	12	is	be	AUX
cblr-1711	217	13	lower	low	ADJ
cblr-1711	217	14	when	when	SCONJ
cblr-1711	217	15	organized	organize	VERB
cblr-1711	217	16	by	by	ADP
cblr-1711	217	17	revenue	revenue	NOUN
cblr-1711	217	18	or	or	CCONJ
cblr-1711	217	19	number	number	NOUN
cblr-1711	217	20	of	of	ADP
cblr-1711	217	21	filers	filer	NOUN
cblr-1711	217	22	.	.	PUNCT
cblr-1711	218	1	92	92	NUM
cblr-1711	218	2	see	see	VERB
cblr-1711	218	3	i	i	PRON
cblr-1711	218	4	d.	d.	PROPN
cblr-1711	218	5	at	at	ADP
cblr-1711	218	6	4	4	NUM
cblr-1711	218	7	.	.	X
cblr-1711	218	8	93	93	NUM
cblr-1711	219	1	i	i	PRON
cblr-1711	219	2	d.	d.	VERB
cblr-1711	219	3	a	a	DET
cblr-1711	219	4	material	material	NOUN
cblr-1711	219	5	weakness	weakness	NOUN
cblr-1711	219	6	exists	exist	VERB
cblr-1711	219	7	when	when	SCONJ
cblr-1711	219	8	some	some	DET
cblr-1711	219	9	flaw	flaw	NOUN
cblr-1711	219	10	within	within	ADP
cblr-1711	219	11	the	the	DET
cblr-1711	219	12	company	company	NOUN
cblr-1711	219	13	’s	’s	PART
cblr-1711	219	14	overall	overall	ADJ
cblr-1711	219	15	control	control	NOUN
cblr-1711	219	16	system	system	NOUN
cblr-1711	219	17	makes	make	VERB
cblr-1711	219	18	it	it	PRON
cblr-1711	219	19	at	at	ADV
cblr-1711	219	20	least	least	ADJ
cblr-1711	219	21	reasonably	reasonably	ADV
cblr-1711	219	22	possible	possible	ADJ
cblr-1711	219	23	for	for	ADP
cblr-1711	219	24	a	a	DET
cblr-1711	219	25	material	material	NOUN
cblr-1711	219	26	misstatement	misstatement	NOUN
cblr-1711	219	27	to	to	PART
cblr-1711	219	28	be	be	AUX
cblr-1711	219	29	included	include	VERB
cblr-1711	219	30	in	in	ADP
cblr-1711	219	31	the	the	DET
cblr-1711	219	32	company	company	NOUN
cblr-1711	219	33	’s	’s	PART
cblr-1711	219	34	issued	issue	VERB
cblr-1711	219	35	financial	financial	ADJ
cblr-1711	219	36	statements	statement	NOUN
cblr-1711	219	37	without	without	ADP
cblr-1711	219	38	being	be	AUX
cblr-1711	219	39	corrected	correct	VERB
cblr-1711	219	40	.	.	PUNCT
cblr-1711	220	1	kayla	kayla	PROPN
cblr-1711	220	2	j.	j.	PROPN
cblr-1711	220	3	gillan	gillan	PROPN
cblr-1711	220	4	,	,	PUNCT
cblr-1711	220	5	bd	bd	PROPN
cblr-1711	220	6	.	.	PROPN
cblr-1711	220	7	member	member	PROPN
cblr-1711	220	8	,	,	PUNCT
cblr-1711	220	9	pub	pub	NOUN
cblr-1711	220	10	.	.	PUNCT
cblr-1711	221	1	co.	co.	PROPN
cblr-1711	221	2	accounting	accounting	NOUN
cblr-1711	221	3	oversight	oversight	NOUN
cblr-1711	221	4	bd	bd	PROPN
cblr-1711	221	5	.	.	PROPN
cblr-1711	221	6	,	,	PUNCT
cblr-1711	221	7	remarks	remark	VERB
cblr-1711	221	8	at	at	ADP
cblr-1711	221	9	spring	spring	NOUN
cblr-1711	221	10	meeting	meeting	NOUN
cblr-1711	221	11	of	of	ADP
cblr-1711	221	12	the	the	DET
cblr-1711	221	13	council	council	NOUN
cblr-1711	221	14	of	of	ADP
cblr-1711	221	15	institutional	institutional	ADJ
cblr-1711	221	16	investors	investor	NOUN
cblr-1711	221	17	:	:	PUNCT
cblr-1711	221	18	a	a	DET
cblr-1711	221	19	layperson	layperson	NOUN
cblr-1711	221	20	’s	’s	PART
cblr-1711	221	21	guide	guide	NOUN
cblr-1711	221	22	to	to	ADP
cblr-1711	221	23	internal	internal	ADJ
cblr-1711	221	24	control	control	NOUN
cblr-1711	221	25	over	over	ADP
cblr-1711	221	26	financial	financial	ADJ
cblr-1711	221	27	reporting	reporting	NOUN
cblr-1711	221	28	(	(	PUNCT
cblr-1711	221	29	icfr	icfr	NOUN
cblr-1711	221	30	)	)	PUNCT
cblr-1711	221	31	,	,	PUNCT
cblr-1711	221	32	(	(	PUNCT
cblr-1711	221	33	mar	mar	PROPN
cblr-1711	221	34	.	.	PROPN
cblr-1711	221	35	31	31	NUM
cblr-1711	221	36	,	,	PUNCT
cblr-1711	221	37	2006	2006	NUM
cblr-1711	221	38	)	)	PUNCT
cblr-1711	221	39	,	,	PUNCT
cblr-1711	221	40	https://pcaobus.org/news/speech/pages/03312006_gillancouncilinstitutio	https://pcaobus.org/news/speech/pages/03312006_gillancouncilinstitutio	NOUN
cblr-1711	221	41	nalinvestors.aspx	nalinvestors.aspx	PROPN
cblr-1711	222	1	[	[	X
cblr-1711	222	2	https://perma.cc/pz7j-nlwk	https://perma.cc/pz7j-nlwk	X
cblr-1711	222	3	]	]	X
cblr-1711	222	4	.	.	PUNCT
cblr-1711	223	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	223	2	1078	1078	NUM
cblr-1711	223	3	columbia	columbia	PROPN
cblr-1711	223	4	business	business	NOUN
cblr-1711	223	5	law	law	PROPN
cblr-1711	223	6	review	review	NOUN
cblr-1711	223	7	[	[	X
cblr-1711	223	8	vol	vol	NOUN
cblr-1711	223	9	.	.	NOUN
cblr-1711	223	10	2018	2018	NUM
cblr-1711	223	11	to	to	PART
cblr-1711	223	12	stay	stay	VERB
cblr-1711	223	13	private	private	ADJ
cblr-1711	223	14	and	and	CCONJ
cblr-1711	223	15	avoid	avoid	VERB
cblr-1711	223	16	ipos	ipos	NOUN
cblr-1711	223	17	for	for	ADP
cblr-1711	223	18	longer.94	longer.94	PROPN
cblr-1711	223	19	in	in	ADP
cblr-1711	223	20	contrast	contrast	NOUN
cblr-1711	223	21	to	to	ADP
cblr-1711	223	22	the	the	DET
cblr-1711	223	23	ipo	ipo	NOUN
cblr-1711	223	24	reforms	reform	NOUN
cblr-1711	223	25	enacted	enact	VERB
cblr-1711	223	26	under	under	ADP
cblr-1711	223	27	title	title	NOUN
cblr-1711	223	28	i	i	PRON
cblr-1711	223	29	of	of	ADP
cblr-1711	223	30	the	the	DET
cblr-1711	223	31	jobs	job	NOUN
cblr-1711	223	32	act	act	PROPN
cblr-1711	223	33	,	,	PUNCT
cblr-1711	223	34	which	which	PRON
cblr-1711	223	35	took	take	VERB
cblr-1711	223	36	effect	effect	NOUN
cblr-1711	223	37	immediately	immediately	ADV
cblr-1711	223	38	,	,	PUNCT
cblr-1711	223	39	title	title	NOUN
cblr-1711	223	40	iii	iii	NUM
cblr-1711	223	41	was	be	AUX
cblr-1711	223	42	not	not	PART
cblr-1711	223	43	implemented	implement	VERB
cblr-1711	223	44	until	until	ADP
cblr-1711	223	45	may	may	AUX
cblr-1711	223	46	2016.95	2016.95	NUM
cblr-1711	223	47	the	the	DET
cblr-1711	223	48	crowdfunding	crowdfunding	NOUN
cblr-1711	223	49	provision	provision	NOUN
cblr-1711	223	50	is	be	AUX
cblr-1711	223	51	regarded	regard	VERB
cblr-1711	223	52	as	as	ADP
cblr-1711	223	53	the	the	DET
cblr-1711	223	54	most	most	ADV
cblr-1711	223	55	novel	novel	ADJ
cblr-1711	223	56	innovation	innovation	NOUN
cblr-1711	223	57	of	of	ADP
cblr-1711	223	58	the	the	DET
cblr-1711	223	59	act	act	NOUN
cblr-1711	223	60	,	,	PUNCT
cblr-1711	223	61	as	as	SCONJ
cblr-1711	223	62	small	small	ADJ
cblr-1711	223	63	businesses	business	NOUN
cblr-1711	223	64	tapped	tap	VERB
cblr-1711	223	65	into	into	ADP
cblr-1711	223	66	an	an	DET
cblr-1711	223	67	entirely	entirely	ADV
cblr-1711	223	68	new	new	ADJ
cblr-1711	223	69	source	source	NOUN
cblr-1711	223	70	of	of	ADP
cblr-1711	223	71	capital	capital	NOUN
cblr-1711	223	72	that	that	PRON
cblr-1711	223	73	permitted	permit	VERB
cblr-1711	223	74	them	they	PRON
cblr-1711	223	75	to	to	PART
cblr-1711	223	76	raise	raise	VERB
cblr-1711	223	77	up	up	ADP
cblr-1711	223	78	to	to	PART
cblr-1711	223	79	$	$	SYM
cblr-1711	223	80	1	1	NUM
cblr-1711	223	81	million	million	NUM
cblr-1711	223	82	annually	annually	ADV
cblr-1711	223	83	in	in	ADP
cblr-1711	223	84	funding	funding	NOUN
cblr-1711	223	85	from	from	ADP
cblr-1711	223	86	unaccredited	unaccredited	ADJ
cblr-1711	223	87	investors.96	investors.96	ADJ
cblr-1711	223	88	financing	financing	NOUN
cblr-1711	223	89	in	in	ADP
cblr-1711	223	90	the	the	DET
cblr-1711	223	91	biotech	biotech	ADJ
cblr-1711	223	92	sector	sector	NOUN
cblr-1711	223	93	typically	typically	ADV
cblr-1711	223	94	operates	operate	VERB
cblr-1711	223	95	along	along	ADP
cblr-1711	223	96	a	a	DET
cblr-1711	223	97	different	different	ADJ
cblr-1711	223	98	timeline	timeline	NOUN
cblr-1711	223	99	than	than	ADP
cblr-1711	223	100	in	in	ADP
cblr-1711	223	101	other	other	ADJ
cblr-1711	223	102	startup	startup	NOUN
cblr-1711	223	103	areas	area	NOUN
cblr-1711	223	104	commonly	commonly	ADV
cblr-1711	223	105	funded	fund	VERB
cblr-1711	223	106	by	by	ADP
cblr-1711	223	107	venture	venture	NOUN
cblr-1711	223	108	capitalists	capitalist	NOUN
cblr-1711	223	109	,	,	PUNCT
cblr-1711	223	110	such	such	ADJ
cblr-1711	223	111	as	as	ADP
cblr-1711	223	112	mobile	mobile	ADJ
cblr-1711	223	113	applications	application	NOUN
cblr-1711	223	114	or	or	CCONJ
cblr-1711	223	115	information	information	NOUN
cblr-1711	223	116	technology.97	technology.97	NOUN
cblr-1711	223	117	returns	return	NOUN
cblr-1711	223	118	on	on	ADP
cblr-1711	223	119	investment	investment	NOUN
cblr-1711	223	120	are	be	AUX
cblr-1711	223	121	often	often	ADV
cblr-1711	223	122	delayed	delay	VERB
cblr-1711	223	123	,	,	PUNCT
cblr-1711	223	124	causing	cause	VERB
cblr-1711	223	125	investors	investor	NOUN
cblr-1711	223	126	to	to	PART
cblr-1711	223	127	retain	retain	VERB
cblr-1711	223	128	illiquid	illiquid	ADJ
cblr-1711	223	129	assets	asset	NOUN
cblr-1711	223	130	for	for	ADP
cblr-1711	223	131	a	a	DET
cblr-1711	223	132	longer	long	ADJ
cblr-1711	223	133	period	period	NOUN
cblr-1711	223	134	of	of	ADP
cblr-1711	223	135	time	time	NOUN
cblr-1711	223	136	,	,	PUNCT
cblr-1711	223	137	and	and	CCONJ
cblr-1711	223	138	initial	initial	ADJ
cblr-1711	223	139	investment	investment	NOUN
cblr-1711	223	140	is	be	AUX
cblr-1711	223	141	more	more	ADV
cblr-1711	223	142	likely	likely	ADJ
cblr-1711	223	143	to	to	PART
cblr-1711	223	144	be	be	AUX
cblr-1711	223	145	higher	high	ADJ
cblr-1711	223	146	and	and	CCONJ
cblr-1711	223	147	riskier.98	riskier.98	VERB
cblr-1711	223	148	the	the	DET
cblr-1711	223	149	extensive	extensive	ADJ
cblr-1711	223	150	time	time	NOUN
cblr-1711	223	151	between	between	ADP
cblr-1711	223	152	development	development	NOUN
cblr-1711	223	153	that	that	PRON
cblr-1711	223	154	encompasses	encompass	VERB
cblr-1711	223	155	years	year	NOUN
cblr-1711	223	156	-	-	PUNCT
cblr-1711	223	157	long	long	ADJ
cblr-1711	223	158	clinical	clinical	ADJ
cblr-1711	223	159	trials	trial	NOUN
cblr-1711	223	160	and	and	CCONJ
cblr-1711	223	161	market	market	NOUN
cblr-1711	223	162	entry	entry	NOUN
cblr-1711	223	163	for	for	ADP
cblr-1711	223	164	a	a	DET
cblr-1711	223	165	new	new	ADJ
cblr-1711	223	166	drug	drug	NOUN
cblr-1711	223	167	or	or	CCONJ
cblr-1711	223	168	medical	medical	ADJ
cblr-1711	223	169	device	device	NOUN
cblr-1711	223	170	,	,	PUNCT
cblr-1711	223	171	along	along	ADP
cblr-1711	223	172	with	with	ADP
cblr-1711	223	173	the	the	DET
cblr-1711	223	174	fact	fact	NOUN
cblr-1711	223	175	that	that	SCONJ
cblr-1711	223	176	fewer	few	ADJ
cblr-1711	223	177	than	than	ADP
cblr-1711	223	178	one	one	NUM
cblr-1711	223	179	percent	percent	NOUN
cblr-1711	223	180	of	of	ADP
cblr-1711	223	181	new	new	ADJ
cblr-1711	223	182	drugs	drug	NOUN
cblr-1711	223	183	make	make	VERB
cblr-1711	223	184	it	it	PRON
cblr-1711	223	185	to	to	ADP
cblr-1711	223	186	market	market	NOUN
cblr-1711	223	187	,	,	PUNCT
cblr-1711	223	188	may	may	AUX
cblr-1711	223	189	deter	deter	VERB
cblr-1711	223	190	venture	venture	NOUN
cblr-1711	223	191	capitalists	capitalist	NOUN
cblr-1711	223	192	from	from	ADP
cblr-1711	223	193	investing.99	investing.99	NOUN
cblr-1711	223	194	the	the	DET
cblr-1711	223	195	challenge	challenge	NOUN
cblr-1711	223	196	that	that	PRON
cblr-1711	223	197	early	early	ADJ
cblr-1711	223	198	-	-	PUNCT
cblr-1711	223	199	stage	stage	NOUN
cblr-1711	223	200	technologies	technology	NOUN
cblr-1711	223	201	face	face	VERB
cblr-1711	223	202	when	when	SCONJ
cblr-1711	223	203	moving	move	VERB
cblr-1711	223	204	from	from	ADP
cblr-1711	223	205	academia	academia	NOUN
cblr-1711	223	206	to	to	ADP
cblr-1711	223	207	market	market	NOUN
cblr-1711	223	208	has	have	AUX
cblr-1711	223	209	been	be	AUX
cblr-1711	223	210	termed	term	VERB
cblr-1711	223	211	the	the	DET
cblr-1711	223	212	“	"	PUNCT
cblr-1711	223	213	valley	valley	NOUN
cblr-1711	223	214	of	of	ADP
cblr-1711	223	215	death	death	NOUN
cblr-1711	223	216	,	,	PUNCT
cblr-1711	223	217	”	"	PUNCT
cblr-1711	223	218	as	as	SCONJ
cblr-1711	223	219	some	some	PRON
cblr-1711	223	220	believe	believe	VERB
cblr-1711	223	221	that	that	SCONJ
cblr-1711	223	222	entrepreneurs	entrepreneur	NOUN
cblr-1711	223	223	need	need	VERB
cblr-1711	223	224	clinical	clinical	ADJ
cblr-1711	223	225	data	datum	NOUN
cblr-1711	223	226	to	to	PART
cblr-1711	223	227	attract	attract	VERB
cblr-1711	223	228	venture	venture	NOUN
cblr-1711	223	229	capital	capital	NOUN
cblr-1711	223	230	funding	funding	NOUN
cblr-1711	223	231	but	but	CCONJ
cblr-1711	223	232	struggle	struggle	VERB
cblr-1711	223	233	to	to	PART
cblr-1711	223	234	overcome	overcome	VERB
cblr-1711	223	235	the	the	DET
cblr-1711	223	236	research	research	NOUN
cblr-1711	223	237	and	and	CCONJ
cblr-1711	223	238	development	development	NOUN
cblr-1711	223	239	capital	capital	NOUN
cblr-1711	223	240	requirements.100	requirements.100	VERB
cblr-1711	223	241	others	other	NOUN
cblr-1711	223	242	argue	argue	VERB
cblr-1711	223	243	that	that	SCONJ
cblr-1711	223	244	the	the	DET
cblr-1711	223	245	94	94	NUM
cblr-1711	223	246	zanki	zanki	PROPN
cblr-1711	223	247	,	,	PUNCT
cblr-1711	223	248	supra	supra	PROPN
cblr-1711	223	249	note	note	PROPN
cblr-1711	223	250	54	54	NUM
cblr-1711	223	251	.	.	PUNCT
cblr-1711	223	252	95	95	NUM
cblr-1711	224	1	i	i	PRON
cblr-1711	224	2	d.	d.	PROPN
cblr-1711	224	3	96	96	NUM
cblr-1711	225	1	i	i	PRON
cblr-1711	225	2	d.	d.	PROPN
cblr-1711	225	3	97	97	NUM
cblr-1711	225	4	farnkoff	farnkoff	NOUN
cblr-1711	225	5	,	,	PUNCT
cblr-1711	225	6	supra	supra	PROPN
cblr-1711	225	7	note	note	PROPN
cblr-1711	225	8	14	14	NUM
cblr-1711	225	9	,	,	PUNCT
cblr-1711	225	10	at	at	ADP
cblr-1711	225	11	156	156	NUM
cblr-1711	225	12	.	.	PUNCT
cblr-1711	225	13	98	98	NUM
cblr-1711	226	1	i	i	PRON
cblr-1711	226	2	d.	d.	PROPN
cblr-1711	226	3	99	99	NUM
cblr-1711	227	1	i	i	PRON
cblr-1711	227	2	d.	d.	PROPN
cblr-1711	227	3	at	at	ADP
cblr-1711	227	4	157	157	NUM
cblr-1711	227	5	.	.	NOUN
cblr-1711	227	6	100	100	NUM
cblr-1711	227	7	deanna	deanna	PROPN
cblr-1711	227	8	pogorelc	pogorelc	NOUN
cblr-1711	227	9	,	,	PUNCT
cblr-1711	227	10	the	the	DET
cblr-1711	227	11	biotech	biotech	ADJ
cblr-1711	227	12	valley	valley	NOUN
cblr-1711	227	13	of	of	ADP
cblr-1711	227	14	death	death	NOUN
cblr-1711	227	15	has	have	AUX
cblr-1711	227	16	become	become	VERB
cblr-1711	227	17	the	the	DET
cblr-1711	227	18	uncrossable	uncrossable	ADJ
cblr-1711	227	19	canyon	canyon	NOUN
cblr-1711	227	20	.	.	PUNCT
cblr-1711	228	1	here	here	ADV
cblr-1711	228	2	’s	’	VERB
cblr-1711	228	3	one	one	NUM
cblr-1711	228	4	innovative	innovative	ADJ
cblr-1711	228	5	approach	approach	NOUN
cblr-1711	228	6	to	to	ADP
cblr-1711	228	7	funding	funding	NOUN
cblr-1711	228	8	,	,	PUNCT
cblr-1711	228	9	medcity	medcity	NOUN
cblr-1711	228	10	news	news	PROPN
cblr-1711	228	11	(	(	PUNCT
cblr-1711	228	12	sept	sept	PROPN
cblr-1711	228	13	.	.	PROPN
cblr-1711	228	14	21	21	NUM
cblr-1711	228	15	,	,	PUNCT
cblr-1711	228	16	2012	2012	NUM
cblr-1711	228	17	,	,	PUNCT
cblr-1711	228	18	10:42	10:42	NUM
cblr-1711	228	19	am	am	NOUN
cblr-1711	228	20	)	)	PUNCT
cblr-1711	228	21	,	,	PUNCT
cblr-1711	228	22	https://medcitynews.com/2012/09/thebiotech-valley-of-death-has-become-the-uncrossable-canyon-heres-oneinnovative-approach-to-funding/?rf=1	https://medcitynews.com/2012/09/thebiotech-valley-of-death-has-become-the-uncrossable-canyon-heres-oneinnovative-approach-to-funding/?rf=1	NOUN
cblr-1711	229	1	[	[	X
cblr-1711	229	2	https://perma.cc/u3vw-ydjr	https://perma.cc/u3vw-ydjr	NOUN
cblr-1711	229	3	]	]	PUNCT
cblr-1711	229	4	;	;	PUNCT
cblr-1711	229	5	see	see	VERB
cblr-1711	229	6	also	also	ADV
cblr-1711	229	7	meg	meg	PROPN
cblr-1711	229	8	graham	graham	PROPN
cblr-1711	229	9	,	,	PUNCT
cblr-1711	229	10	how	how	SCONJ
cblr-1711	229	11	ibio	ibio	PROPN
cblr-1711	229	12	helps	help	VERB
cblr-1711	229	13	biotech	biotech	ADJ
cblr-1711	229	14	firms	firm	NOUN
cblr-1711	229	15	through	through	ADP
cblr-1711	229	16	‘	'	PUNCT
cblr-1711	229	17	valley	valley	NOUN
cblr-1711	229	18	of	of	ADP
cblr-1711	229	19	death	death	NOUN
cblr-1711	229	20	,	,	PUNCT
cblr-1711	229	21	’	'	PUNCT
cblr-1711	229	22	chi	chi	PROPN
cblr-1711	229	23	.	.	PUNCT
cblr-1711	230	1	trib	trib	PROPN
cblr-1711	230	2	.	.	PUNCT
cblr-1711	231	1	(	(	PUNCT
cblr-1711	231	2	oct	oct	PROPN
cblr-1711	231	3	.	.	PROPN
cblr-1711	231	4	5	5	NUM
cblr-1711	231	5	,	,	PUNCT
cblr-1711	231	6	2015	2015	NUM
cblr-1711	231	7	,	,	PUNCT
cblr-1711	231	8	5:30	5:30	NUM
cblr-1711	231	9	am	am	NOUN
cblr-1711	231	10	)	)	PUNCT
cblr-1711	231	11	,	,	PUNCT
cblr-1711	231	12	https://www.chicagotribune.com/	https://www.chicagotribune.com/	NOUN
cblr-1711	231	13	bluesky	bluesky	NOUN
cblr-1711	231	14	/	/	SYM
cblr-1711	231	15	originals	original	NOUN
cblr-1711	231	16	/	/	SYM
cblr-1711	231	17	ct	ct	PROPN
cblr-1711	231	18	-	-	PUNCT
cblr-1711	231	19	warren	warren	PROPN
cblr-1711	231	20	-	-	PUNCT
cblr-1711	231	21	ribley	ribley	NOUN
cblr-1711	231	22	-	-	PUNCT
cblr-1711	231	23	ibio	ibio	NOUN
cblr-1711	231	24	-	-	PUNCT
cblr-1711	231	25	bsi-20151002	bsi-20151002	NOUN
cblr-1711	231	26	-	-	PUNCT
cblr-1711	231	27	story.html	story.html	PROPN
cblr-1711	231	28	(	(	PUNCT
cblr-1711	231	29	on	on	ADP
cblr-1711	231	30	file	file	NOUN
cblr-1711	231	31	with	with	ADP
cblr-1711	231	32	the	the	DET
cblr-1711	231	33	columbia	columbia	PROPN
cblr-1711	231	34	business	business	PROPN
cblr-1711	231	35	law	law	PROPN
cblr-1711	231	36	review	review	PROPN
cblr-1711	231	37	)	)	PUNCT
cblr-1711	231	38	;	;	PUNCT
cblr-1711	231	39	cf	cf	X
cblr-1711	231	40	.	.	PUNCT
cblr-1711	232	1	martin	martin	PROPN
cblr-1711	232	2	zwilling	zwilling	PROPN
cblr-1711	232	3	,	,	PUNCT
cblr-1711	232	4	10	10	NUM
cblr-1711	232	5	ways	way	NOUN
cblr-1711	232	6	for	for	ADP
cblr-1711	232	7	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	232	8	no	no	NOUN
cblr-1711	232	9	.	.	PUNCT
cblr-1711	233	1	3:1060	3:1060	NUM
cblr-1711	233	2	]	]	X
cblr-1711	233	3	biotech	biotech	ADJ
cblr-1711	233	4	crowdfunding	crowdfunde	VERB
cblr-1711	233	5	1079	1079	NUM
cblr-1711	233	6	“	"	PUNCT
cblr-1711	233	7	valley	valley	NOUN
cblr-1711	233	8	of	of	ADP
cblr-1711	233	9	death	death	NOUN
cblr-1711	233	10	”	"	PUNCT
cblr-1711	233	11	is	be	AUX
cblr-1711	233	12	merely	merely	ADV
cblr-1711	233	13	a	a	DET
cblr-1711	233	14	representation	representation	NOUN
cblr-1711	233	15	of	of	ADP
cblr-1711	233	16	supply	supply	NOUN
cblr-1711	233	17	and	and	CCONJ
cblr-1711	233	18	demand	demand	NOUN
cblr-1711	233	19	—	—	PUNCT
cblr-1711	233	20	that	that	SCONJ
cblr-1711	233	21	early	early	ADJ
cblr-1711	233	22	-	-	PUNCT
cblr-1711	233	23	stage	stage	NOUN
cblr-1711	233	24	biotech	biotech	NOUN
cblr-1711	233	25	startups	startup	NOUN
cblr-1711	233	26	fail	fail	VERB
cblr-1711	233	27	because	because	SCONJ
cblr-1711	233	28	there	there	PRON
cblr-1711	233	29	are	be	VERB
cblr-1711	233	30	too	too	ADV
cblr-1711	233	31	many	many	ADJ
cblr-1711	233	32	of	of	ADP
cblr-1711	233	33	them	they	PRON
cblr-1711	233	34	or	or	CCONJ
cblr-1711	233	35	that	that	SCONJ
cblr-1711	233	36	their	their	PRON
cblr-1711	233	37	ideas	idea	NOUN
cblr-1711	233	38	or	or	CCONJ
cblr-1711	233	39	entrepreneurs	entrepreneur	NOUN
cblr-1711	233	40	are	be	AUX
cblr-1711	233	41	not	not	PART
cblr-1711	233	42	good	good	ADJ
cblr-1711	233	43	enough.101	enough.101	NOUN
cblr-1711	233	44	still	still	ADV
cblr-1711	233	45	others	other	NOUN
cblr-1711	233	46	question	question	VERB
cblr-1711	233	47	whether	whether	SCONJ
cblr-1711	233	48	the	the	DET
cblr-1711	233	49	“	"	PUNCT
cblr-1711	233	50	valley	valley	NOUN
cblr-1711	233	51	of	of	ADP
cblr-1711	233	52	death	death	NOUN
cblr-1711	233	53	”	"	PUNCT
cblr-1711	233	54	exists	exist	VERB
cblr-1711	233	55	at	at	ADV
cblr-1711	233	56	all	all	ADV
cblr-1711	233	57	,	,	PUNCT
cblr-1711	233	58	as	as	SCONJ
cblr-1711	233	59	one	one	NUM
cblr-1711	233	60	study	study	NOUN
cblr-1711	233	61	observed	observe	VERB
cblr-1711	233	62	a	a	DET
cblr-1711	233	63	greater	great	ADJ
cblr-1711	233	64	proportion	proportion	NOUN
cblr-1711	233	65	of	of	ADP
cblr-1711	233	66	series	series	NOUN
cblr-1711	233	67	a	a	DET
cblr-1711	233	68	financings	financing	NOUN
cblr-1711	233	69	directed	direct	VERB
cblr-1711	233	70	to	to	ADP
cblr-1711	233	71	biotech	biotech	ADJ
cblr-1711	233	72	companies	company	NOUN
cblr-1711	233	73	with	with	ADP
cblr-1711	233	74	drugs	drug	NOUN
cblr-1711	233	75	in	in	ADP
cblr-1711	233	76	the	the	DET
cblr-1711	233	77	early	early	ADJ
cblr-1711	233	78	stages	stage	NOUN
cblr-1711	233	79	of	of	ADP
cblr-1711	233	80	development	development	NOUN
cblr-1711	233	81	compared	compare	VERB
cblr-1711	233	82	to	to	ADP
cblr-1711	233	83	companies	company	NOUN
cblr-1711	233	84	with	with	ADP
cblr-1711	233	85	drugs	drug	NOUN
cblr-1711	233	86	in	in	ADP
cblr-1711	233	87	later	late	ADJ
cblr-1711	233	88	stages.102	stages.102	NOUN
cblr-1711	233	89	even	even	ADV
cblr-1711	233	90	if	if	SCONJ
cblr-1711	233	91	companies	company	NOUN
cblr-1711	233	92	with	with	ADP
cblr-1711	233	93	early	early	ADJ
cblr-1711	233	94	-	-	PUNCT
cblr-1711	233	95	stage	stage	NOUN
cblr-1711	233	96	drugs	drug	NOUN
cblr-1711	233	97	receive	receive	VERB
cblr-1711	233	98	comparatively	comparatively	ADV
cblr-1711	233	99	more	more	ADJ
cblr-1711	233	100	funding	funding	NOUN
cblr-1711	233	101	to	to	ADP
cblr-1711	233	102	companies	company	NOUN
cblr-1711	233	103	with	with	ADP
cblr-1711	233	104	later	later	ADJ
cblr-1711	233	105	stage	stage	NOUN
cblr-1711	233	106	drugs	drug	NOUN
cblr-1711	233	107	,	,	PUNCT
cblr-1711	233	108	if	if	SCONJ
cblr-1711	233	109	there	there	PRON
cblr-1711	233	110	are	be	VERB
cblr-1711	233	111	more	more	ADJ
cblr-1711	233	112	of	of	ADP
cblr-1711	233	113	the	the	DET
cblr-1711	233	114	former	former	ADJ
cblr-1711	233	115	,	,	PUNCT
cblr-1711	233	116	a	a	DET
cblr-1711	233	117	perceived	perceive	VERB
cblr-1711	233	118	challenge	challenge	NOUN
cblr-1711	233	119	to	to	ADP
cblr-1711	233	120	obtaining	obtain	VERB
cblr-1711	233	121	venture	venture	NOUN
cblr-1711	233	122	capital	capital	NOUN
cblr-1711	233	123	investment	investment	NOUN
cblr-1711	233	124	is	be	AUX
cblr-1711	233	125	possible	possible	ADJ
cblr-1711	233	126	.	.	PUNCT
cblr-1711	234	1	nevertheless	nevertheless	ADV
cblr-1711	234	2	,	,	PUNCT
cblr-1711	234	3	the	the	DET
cblr-1711	234	4	crowdfunding	crowdfunding	NOUN
cblr-1711	234	5	provision	provision	NOUN
cblr-1711	234	6	provides	provide	VERB
cblr-1711	234	7	an	an	DET
cblr-1711	234	8	alternative	alternative	ADJ
cblr-1711	234	9	path	path	NOUN
cblr-1711	234	10	for	for	ADP
cblr-1711	234	11	investment	investment	NOUN
cblr-1711	234	12	in	in	ADP
cblr-1711	234	13	biotech	biotech	NOUN
cblr-1711	234	14	.	.	PUNCT
cblr-1711	235	1	low	low	ADJ
cblr-1711	235	2	-	-	PUNCT
cblr-1711	235	3	dollar	dollar	NOUN
cblr-1711	235	4	investors	investor	NOUN
cblr-1711	235	5	,	,	PUNCT
cblr-1711	235	6	representing	represent	VERB
cblr-1711	235	7	an	an	DET
cblr-1711	235	8	assortment	assortment	NOUN
cblr-1711	235	9	of	of	ADP
cblr-1711	235	10	interests	interest	NOUN
cblr-1711	235	11	,	,	PUNCT
cblr-1711	235	12	may	may	AUX
cblr-1711	235	13	be	be	AUX
cblr-1711	235	14	less	less	ADV
cblr-1711	235	15	concerned	concerned	ADJ
cblr-1711	235	16	about	about	ADP
cblr-1711	235	17	the	the	DET
cblr-1711	235	18	success	success	NOUN
cblr-1711	235	19	of	of	ADP
cblr-1711	235	20	the	the	DET
cblr-1711	235	21	company	company	NOUN
cblr-1711	235	22	than	than	ADP
cblr-1711	235	23	a	a	DET
cblr-1711	235	24	venture	venture	NOUN
cblr-1711	235	25	capital	capital	NOUN
cblr-1711	235	26	firm	firm	NOUN
cblr-1711	235	27	that	that	PRON
cblr-1711	235	28	assumes	assume	VERB
cblr-1711	235	29	a	a	DET
cblr-1711	235	30	large	large	ADJ
cblr-1711	235	31	amount	amount	NOUN
cblr-1711	235	32	of	of	ADP
cblr-1711	235	33	downside	downside	ADJ
cblr-1711	235	34	risk	risk	NOUN
cblr-1711	235	35	for	for	ADP
cblr-1711	235	36	each	each	DET
cblr-1711	235	37	investment.103	investment.103	NOUN
cblr-1711	235	38	in	in	ADP
cblr-1711	235	39	addition	addition	NOUN
cblr-1711	235	40	to	to	ADP
cblr-1711	235	41	being	be	AUX
cblr-1711	235	42	less	less	ADJ
cblr-1711	235	43	risk	risk	NOUN
cblr-1711	235	44	averse	averse	ADJ
cblr-1711	235	45	,	,	PUNCT
cblr-1711	235	46	these	these	DET
cblr-1711	235	47	low	low	ADJ
cblr-1711	235	48	-	-	PUNCT
cblr-1711	235	49	dollar	dollar	NOUN
cblr-1711	235	50	investors	investor	NOUN
cblr-1711	235	51	may	may	AUX
cblr-1711	235	52	be	be	AUX
cblr-1711	235	53	more	more	ADV
cblr-1711	235	54	attracted	attract	VERB
cblr-1711	235	55	to	to	ADP
cblr-1711	235	56	the	the	DET
cblr-1711	235	57	humanitarian	humanitarian	ADJ
cblr-1711	235	58	goal	goal	NOUN
cblr-1711	235	59	of	of	ADP
cblr-1711	235	60	the	the	DET
cblr-1711	235	61	egc	egc	ADJ
cblr-1711	235	62	and	and	CCONJ
cblr-1711	235	63	more	more	ADV
cblr-1711	235	64	patient	patient	ADJ
cblr-1711	235	65	with	with	ADP
cblr-1711	235	66	the	the	DET
cblr-1711	235	67	return	return	NOUN
cblr-1711	235	68	on	on	ADP
cblr-1711	235	69	investment.104	investment.104	NOUN
cblr-1711	235	70	crowdfunding	crowdfunding	NOUN
cblr-1711	235	71	issuers	issuer	NOUN
cblr-1711	235	72	may	may	AUX
cblr-1711	235	73	include	include	VERB
cblr-1711	235	74	charitable	charitable	ADJ
cblr-1711	235	75	foundations	foundation	NOUN
cblr-1711	235	76	or	or	CCONJ
cblr-1711	235	77	individuals	individual	NOUN
cblr-1711	235	78	with	with	ADP
cblr-1711	235	79	personal	personal	ADJ
cblr-1711	235	80	stories	story	NOUN
cblr-1711	235	81	and	and	CCONJ
cblr-1711	235	82	social	social	ADJ
cblr-1711	235	83	media	medium	NOUN
cblr-1711	235	84	acumen	acuman	NOUN
cblr-1711	235	85	that	that	PRON
cblr-1711	235	86	can	can	AUX
cblr-1711	235	87	inspire	inspire	VERB
cblr-1711	235	88	others	other	NOUN
cblr-1711	235	89	to	to	PART
cblr-1711	235	90	invest	invest	VERB
cblr-1711	235	91	in	in	ADP
cblr-1711	235	92	startups	startup	NOUN
cblr-1711	235	93	to	to	PART
cblr-1711	235	94	survive	survive	VERB
cblr-1711	235	95	the	the	DET
cblr-1711	235	96	valley	valley	NOUN
cblr-1711	235	97	of	of	ADP
cblr-1711	235	98	death	death	NOUN
cblr-1711	235	99	,	,	PUNCT
cblr-1711	235	100	forbes	forbes	PROPN
cblr-1711	235	101	(	(	PUNCT
cblr-1711	235	102	feb	feb	PROPN
cblr-1711	235	103	.	.	PROPN
cblr-1711	235	104	18	18	NUM
cblr-1711	235	105	,	,	PUNCT
cblr-1711	235	106	2013	2013	NUM
cblr-1711	235	107	,	,	PUNCT
cblr-1711	235	108	11:30	11:30	NUM
cblr-1711	235	109	pm	pm	NOUN
cblr-1711	235	110	)	)	PUNCT
cblr-1711	235	111	,	,	PUNCT
cblr-1711	235	112	https://www.forbes.com/sites/martinzwilling/2013/02/18/10-ways-forstartups-to-survive-the-valley-of-death/#20ef08a869ef	https://www.forbes.com/sites/martinzwilling/2013/02/18/10-ways-forstartups-to-survive-the-valley-of-death/#20ef08a869ef	PROPN
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cblr-1711	236	2	https://perma.cc/5j6j-aamk	https://perma.cc/5j6j-aamk	X
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cblr-1711	236	4	(	(	PUNCT
cblr-1711	236	5	describing	describe	VERB
cblr-1711	236	6	the	the	DET
cblr-1711	236	7	“	"	PUNCT
cblr-1711	236	8	valley	valley	NOUN
cblr-1711	236	9	of	of	ADP
cblr-1711	236	10	death	death	NOUN
cblr-1711	236	11	”	"	PUNCT
cblr-1711	236	12	term	term	NOUN
cblr-1711	236	13	as	as	SCONJ
cblr-1711	236	14	applied	apply	VERB
cblr-1711	236	15	to	to	ADP
cblr-1711	236	16	startups	startup	NOUN
cblr-1711	236	17	generally	generally	ADV
cblr-1711	236	18	)	)	PUNCT
cblr-1711	236	19	.	.	PUNCT
cblr-1711	237	1	101	101	NUM
cblr-1711	237	2	brandon	brandon	PROPN
cblr-1711	237	3	glenn	glenn	PROPN
cblr-1711	237	4	,	,	PUNCT
cblr-1711	237	5	in	in	ADP
cblr-1711	237	6	biotech	biotech	NOUN
cblr-1711	237	7	,	,	PUNCT
cblr-1711	237	8	the	the	DET
cblr-1711	237	9	popular	popular	ADJ
cblr-1711	237	10	valley	valley	NOUN
cblr-1711	237	11	of	of	ADP
cblr-1711	237	12	death	death	NOUN
cblr-1711	237	13	meme	meme	NOUN
cblr-1711	237	14	is	be	AUX
cblr-1711	237	15	really	really	ADV
cblr-1711	237	16	just	just	ADV
cblr-1711	237	17	classic	classic	ADJ
cblr-1711	237	18	supply	supply	NOUN
cblr-1711	237	19	and	and	CCONJ
cblr-1711	237	20	demand	demand	NOUN
cblr-1711	237	21	,	,	PUNCT
cblr-1711	237	22	medcity	medcity	NOUN
cblr-1711	237	23	news	news	PROPN
cblr-1711	237	24	(	(	PUNCT
cblr-1711	237	25	feb	feb	PROPN
cblr-1711	237	26	.	.	PROPN
cblr-1711	237	27	24	24	NUM
cblr-1711	237	28	,	,	PUNCT
cblr-1711	237	29	2012	2012	NUM
cblr-1711	237	30	,	,	PUNCT
cblr-1711	237	31	1:39	1:39	NUM
cblr-1711	237	32	pm	pm	NOUN
cblr-1711	237	33	)	)	PUNCT
cblr-1711	237	34	,	,	PUNCT
cblr-1711	237	35	https://medcitynews.com/2012/02/in-biotech-the-popular-valleyof-death-meme-is-really-just-classic-supply-and-demand/	https://medcitynews.com/2012/02/in-biotech-the-popular-valleyof-death-meme-is-really-just-classic-supply-and-demand/	X
cblr-1711	238	1	[	[	X
cblr-1711	238	2	https://perma.cc/sz97-3yl7	https://perma.cc/sz97-3yl7	X
cblr-1711	238	3	]	]	X
cblr-1711	238	4	.	.	PUNCT
cblr-1711	239	1	102	102	NUM
cblr-1711	239	2	bruce	bruce	PROPN
cblr-1711	239	3	booth	booth	PROPN
cblr-1711	239	4	,	,	PUNCT
cblr-1711	239	5	where	where	SCONJ
cblr-1711	239	6	does	do	AUX
cblr-1711	239	7	all	all	PRON
cblr-1711	239	8	that	that	DET
cblr-1711	239	9	biotech	biotech	ADJ
cblr-1711	239	10	venture	venture	NOUN
cblr-1711	239	11	capital	capital	NOUN
cblr-1711	239	12	go	go	VERB
cblr-1711	239	13	?	?	PUNCT
cblr-1711	239	14	,	,	PUNCT
cblr-1711	239	15	forbes	forbes	PROPN
cblr-1711	239	16	(	(	PUNCT
cblr-1711	239	17	feb	feb	PROPN
cblr-1711	239	18	.	.	PROPN
cblr-1711	239	19	9	9	NUM
cblr-1711	239	20	,	,	PUNCT
cblr-1711	239	21	2015	2015	NUM
cblr-1711	239	22	,	,	PUNCT
cblr-1711	239	23	10:21	10:21	NUM
cblr-1711	239	24	am	am	NOUN
cblr-1711	239	25	)	)	PUNCT
cblr-1711	239	26	,	,	PUNCT
cblr-1711	239	27	https://www.forbes.com/	https://www.forbes.com/	NOUN
cblr-1711	239	28	sites	site	NOUN
cblr-1711	239	29	/	/	SYM
cblr-1711	239	30	brucebooth/2015/02/09	brucebooth/2015/02/09	PROPN
cblr-1711	239	31	/	/	SYM
cblr-1711	239	32	where	where	SCONJ
cblr-1711	239	33	-	-	PUNCT
cblr-1711	239	34	does	do	AUX
cblr-1711	239	35	-	-	PUNCT
cblr-1711	239	36	all	all	ADV
cblr-1711	239	37	-	-	PUNCT
cblr-1711	239	38	that	that	ADV
cblr-1711	239	39	-	-	PUNCT
cblr-1711	239	40	biotech	biotech	ADJ
cblr-1711	239	41	-	-	PUNCT
cblr-1711	239	42	venture	venture	NOUN
cblr-1711	239	43	-	-	PUNCT
cblr-1711	239	44	capitalgo/#6deaa7de4676	capitalgo/#6deaa7de4676	PROPN
cblr-1711	240	1	[	[	X
cblr-1711	240	2	https://perma.cc/2fvb-bzpw	https://perma.cc/2fvb-bzpw	X
cblr-1711	240	3	]	]	X
cblr-1711	240	4	.	.	PUNCT
cblr-1711	241	1	103	103	NUM
cblr-1711	241	2	farnkoff	farnkoff	NOUN
cblr-1711	241	3	,	,	PUNCT
cblr-1711	241	4	supra	supra	PROPN
cblr-1711	241	5	note	note	PROPN
cblr-1711	241	6	14	14	NUM
cblr-1711	241	7	,	,	PUNCT
cblr-1711	241	8	at	at	ADP
cblr-1711	241	9	157	157	NUM
cblr-1711	241	10	.	.	PUNCT
cblr-1711	242	1	104	104	NUM
cblr-1711	243	1	i	i	PRON
cblr-1711	243	2	d.	d.	PROPN
cblr-1711	243	3	at	at	ADP
cblr-1711	243	4	158–59	158–59	NUM
cblr-1711	243	5	.	.	PUNCT
cblr-1711	244	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	244	2	1080	1080	NUM
cblr-1711	244	3	columbia	columbia	PROPN
cblr-1711	244	4	business	business	NOUN
cblr-1711	244	5	law	law	PROPN
cblr-1711	244	6	review	review	NOUN
cblr-1711	244	7	[	[	X
cblr-1711	244	8	vol	vol	NOUN
cblr-1711	244	9	.	.	NOUN
cblr-1711	244	10	2018	2018	NUM
cblr-1711	244	11	a	a	DET
cblr-1711	244	12	venture	venture	NOUN
cblr-1711	244	13	that	that	PRON
cblr-1711	244	14	could	could	AUX
cblr-1711	244	15	take	take	VERB
cblr-1711	244	16	a	a	DET
cblr-1711	244	17	long	long	ADJ
cblr-1711	244	18	time	time	NOUN
cblr-1711	244	19	to	to	PART
cblr-1711	244	20	pay	pay	VERB
cblr-1711	244	21	off.105	off.105	NOUN
cblr-1711	244	22	spreading	spread	VERB
cblr-1711	244	23	out	out	ADP
cblr-1711	244	24	the	the	DET
cblr-1711	244	25	investment	investment	NOUN
cblr-1711	244	26	among	among	ADP
cblr-1711	244	27	investors	investor	NOUN
cblr-1711	244	28	with	with	ADP
cblr-1711	244	29	different	different	ADJ
cblr-1711	244	30	incentives	incentive	NOUN
cblr-1711	244	31	and	and	CCONJ
cblr-1711	244	32	perhaps	perhaps	ADV
cblr-1711	244	33	less	less	ADJ
cblr-1711	244	34	risk	risk	NOUN
cblr-1711	244	35	aversion	aversion	NOUN
cblr-1711	244	36	to	to	PART
cblr-1711	244	37	invest	invest	VERB
cblr-1711	244	38	in	in	ADP
cblr-1711	244	39	biotech	biotech	NOUN
cblr-1711	244	40	can	can	AUX
cblr-1711	244	41	help	help	VERB
cblr-1711	244	42	egcs	egcs	AUX
cblr-1711	244	43	cross	cross	VERB
cblr-1711	244	44	the	the	DET
cblr-1711	244	45	“	"	PUNCT
cblr-1711	244	46	valley	valley	NOUN
cblr-1711	244	47	of	of	ADP
cblr-1711	244	48	death	death	NOUN
cblr-1711	244	49	.	.	PUNCT
cblr-1711	245	1	”106	”106	PROPN
cblr-1711	245	2	while	while	SCONJ
cblr-1711	245	3	crowdfunding	crowdfunding	NOUN
cblr-1711	245	4	may	may	AUX
cblr-1711	245	5	offer	offer	VERB
cblr-1711	245	6	a	a	DET
cblr-1711	245	7	financing	financing	NOUN
cblr-1711	245	8	solution	solution	NOUN
cblr-1711	245	9	for	for	ADP
cblr-1711	245	10	biotech	biotech	ADJ
cblr-1711	245	11	startups	startup	NOUN
cblr-1711	245	12	,	,	PUNCT
cblr-1711	245	13	many	many	ADJ
cblr-1711	245	14	are	be	AUX
cblr-1711	245	15	concerned	concerned	ADJ
cblr-1711	245	16	that	that	SCONJ
cblr-1711	245	17	even	even	ADV
cblr-1711	245	18	with	with	ADP
cblr-1711	245	19	lowdollar	lowdollar	ADJ
cblr-1711	245	20	investments	investment	NOUN
cblr-1711	245	21	,	,	PUNCT
cblr-1711	245	22	unaccredited	unaccredited	ADJ
cblr-1711	245	23	investors	investor	NOUN
cblr-1711	245	24	will	will	AUX
cblr-1711	245	25	be	be	AUX
cblr-1711	245	26	subject	subject	ADJ
cblr-1711	245	27	to	to	ADP
cblr-1711	245	28	heightened	heightened	ADJ
cblr-1711	245	29	risk	risk	NOUN
cblr-1711	245	30	and	and	CCONJ
cblr-1711	245	31	losses	loss	NOUN
cblr-1711	245	32	resulting	result	VERB
cblr-1711	245	33	from	from	ADP
cblr-1711	245	34	fraud	fraud	NOUN
cblr-1711	245	35	and	and	CCONJ
cblr-1711	245	36	selfdealing.107	selfdealing.107	NOUN
cblr-1711	245	37	in	in	ADP
cblr-1711	245	38	the	the	DET
cblr-1711	245	39	1980s	1980	NOUN
cblr-1711	245	40	,	,	PUNCT
cblr-1711	245	41	small	small	ADJ
cblr-1711	245	42	offering	offering	NOUN
cblr-1711	245	43	exemptions	exemption	NOUN
cblr-1711	245	44	under	under	ADP
cblr-1711	245	45	rule	rule	NOUN
cblr-1711	245	46	504	504	NUM
cblr-1711	245	47	resulted	result	VERB
cblr-1711	245	48	in	in	ADP
cblr-1711	245	49	widespread	widespread	ADJ
cblr-1711	245	50	abuse	abuse	NOUN
cblr-1711	245	51	through	through	ADP
cblr-1711	245	52	penny	penny	NOUN
cblr-1711	245	53	stock	stock	NOUN
cblr-1711	245	54	securities	security	NOUN
cblr-1711	245	55	fraud.108	fraud.108	NOUN
cblr-1711	245	56	without	without	ADP
cblr-1711	245	57	federal	federal	ADJ
cblr-1711	245	58	mandatory	mandatory	ADJ
cblr-1711	245	59	disclosure	disclosure	NOUN
cblr-1711	245	60	or	or	CCONJ
cblr-1711	245	61	state	state	NOUN
cblr-1711	245	62	registration	registration	NOUN
cblr-1711	245	63	requirements	requirement	NOUN
cblr-1711	245	64	,	,	PUNCT
cblr-1711	245	65	bad	bad	ADJ
cblr-1711	245	66	actors	actor	NOUN
cblr-1711	245	67	issued	issue	VERB
cblr-1711	245	68	up	up	ADP
cblr-1711	245	69	to	to	PART
cblr-1711	245	70	$	$	SYM
cblr-1711	245	71	1	1	NUM
cblr-1711	245	72	million	million	NUM
cblr-1711	245	73	of	of	ADP
cblr-1711	245	74	securities	security	NOUN
cblr-1711	245	75	in	in	ADP
cblr-1711	245	76	new	new	PROPN
cblr-1711	245	77	york	york	PROPN
cblr-1711	245	78	to	to	PART
cblr-1711	245	79	favored	favor	VERB
cblr-1711	245	80	groups.109	groups.109	PROPN
cblr-1711	245	81	the	the	DET
cblr-1711	245	82	bad	bad	ADJ
cblr-1711	245	83	actor	actor	NOUN
cblr-1711	245	84	issuers	issuer	NOUN
cblr-1711	245	85	then	then	ADV
cblr-1711	245	86	artificially	artificially	ADV
cblr-1711	245	87	drove	drive	VERB
cblr-1711	245	88	up	up	ADP
cblr-1711	245	89	prices	price	NOUN
cblr-1711	245	90	in	in	ADP
cblr-1711	245	91	the	the	DET
cblr-1711	245	92	secondary	secondary	ADJ
cblr-1711	245	93	market	market	NOUN
cblr-1711	245	94	so	so	SCONJ
cblr-1711	245	95	that	that	SCONJ
cblr-1711	245	96	the	the	DET
cblr-1711	245	97	favored	favor	VERB
cblr-1711	245	98	initial	initial	ADJ
cblr-1711	245	99	investors	investor	NOUN
cblr-1711	245	100	could	could	AUX
cblr-1711	245	101	sell	sell	VERB
cblr-1711	245	102	at	at	ADP
cblr-1711	245	103	a	a	DET
cblr-1711	245	104	profit	profit	NOUN
cblr-1711	245	105	and	and	CCONJ
cblr-1711	245	106	new	new	ADJ
cblr-1711	245	107	investors	investor	NOUN
cblr-1711	245	108	were	be	AUX
cblr-1711	245	109	left	leave	VERB
cblr-1711	245	110	with	with	ADP
cblr-1711	245	111	inflated	inflated	ADJ
cblr-1711	245	112	shares	share	NOUN
cblr-1711	245	113	,	,	PUNCT
cblr-1711	245	114	leading	lead	VERB
cblr-1711	245	115	to	to	ADP
cblr-1711	245	116	a	a	DET
cblr-1711	245	117	substantial	substantial	ADJ
cblr-1711	245	118	loss	loss	NOUN
cblr-1711	245	119	as	as	SCONJ
cblr-1711	245	120	the	the	DET
cblr-1711	245	121	shares	share	NOUN
cblr-1711	245	122	inevitably	inevitably	ADV
cblr-1711	245	123	declined.110	declined.110	VERB
cblr-1711	245	124	combining	combine	VERB
cblr-1711	245	125	the	the	DET
cblr-1711	245	126	internet	internet	NOUN
cblr-1711	245	127	and	and	CCONJ
cblr-1711	245	128	social	social	ADJ
cblr-1711	245	129	media	medium	NOUN
cblr-1711	245	130	with	with	ADP
cblr-1711	245	131	the	the	DET
cblr-1711	245	132	relaxed	relaxed	ADJ
cblr-1711	245	133	regulations	regulation	NOUN
cblr-1711	245	134	and	and	CCONJ
cblr-1711	245	135	oversight	oversight	NOUN
cblr-1711	245	136	could	could	AUX
cblr-1711	245	137	lead	lead	VERB
cblr-1711	245	138	to	to	ADP
cblr-1711	245	139	scams	scam	NOUN
cblr-1711	245	140	at	at	ADP
cblr-1711	245	141	an	an	DET
cblr-1711	245	142	even	even	ADV
cblr-1711	245	143	greater	great	ADJ
cblr-1711	245	144	scale	scale	NOUN
cblr-1711	245	145	,	,	PUNCT
cblr-1711	245	146	as	as	SCONJ
cblr-1711	245	147	bad	bad	ADJ
cblr-1711	245	148	actors	actor	NOUN
cblr-1711	245	149	are	be	AUX
cblr-1711	245	150	provided	provide	VERB
cblr-1711	245	151	with	with	ADP
cblr-1711	245	152	new	new	ADJ
cblr-1711	245	153	opportunities	opportunity	NOUN
cblr-1711	245	154	to	to	PART
cblr-1711	245	155	influence	influence	VERB
cblr-1711	245	156	potential	potential	ADJ
cblr-1711	245	157	investors.111	investors.111	NOUN
cblr-1711	245	158	in	in	ADP
cblr-1711	245	159	the	the	DET
cblr-1711	245	160	biotech	biotech	ADJ
cblr-1711	245	161	sector	sector	NOUN
cblr-1711	245	162	specifically	specifically	ADV
cblr-1711	245	163	,	,	PUNCT
cblr-1711	245	164	investors	investor	NOUN
cblr-1711	245	165	’	'	PUNCT
cblr-1711	245	166	risks	risk	NOUN
cblr-1711	245	167	are	be	AUX
cblr-1711	245	168	magnified	magnify	VERB
cblr-1711	245	169	as	as	SCONJ
cblr-1711	245	170	issuers	issuer	NOUN
cblr-1711	245	171	promising	promise	VERB
cblr-1711	245	172	cures	cure	NOUN
cblr-1711	245	173	of	of	ADP
cblr-1711	245	174	rare	rare	ADJ
cblr-1711	245	175	diseases	disease	NOUN
cblr-1711	245	176	“	"	PUNCT
cblr-1711	245	177	may	may	AUX
cblr-1711	245	178	attract	attract	VERB
cblr-1711	245	179	a	a	DET
cblr-1711	245	180	more	more	ADV
cblr-1711	245	181	vulnerable	vulnerable	ADJ
cblr-1711	245	182	subset	subset	NOUN
cblr-1711	245	183	of	of	ADP
cblr-1711	245	184	unsophisticated	unsophisticated	ADJ
cblr-1711	245	185	investors	investor	NOUN
cblr-1711	245	186	who	who	PRON
cblr-1711	245	187	are	be	AUX
cblr-1711	245	188	more	more	ADV
cblr-1711	245	189	105	105	NUM
cblr-1711	245	190	i	i	PRON
cblr-1711	245	191	d.	d.	PROPN
cblr-1711	245	192	at	at	ADP
cblr-1711	245	193	159–60	159–60	NUM
cblr-1711	245	194	.	.	PROPN
cblr-1711	245	195	106	106	NUM
cblr-1711	246	1	i	i	PRON
cblr-1711	246	2	d.	d.	PROPN
cblr-1711	246	3	107	107	NUM
cblr-1711	246	4	see	see	VERB
cblr-1711	246	5	devin	devin	PROPN
cblr-1711	246	6	thorpe	thorpe	PROPN
cblr-1711	246	7	,	,	PUNCT
cblr-1711	246	8	worries	worry	VERB
cblr-1711	246	9	about	about	ADP
cblr-1711	246	10	fraud	fraud	VERB
cblr-1711	246	11	top	top	ADJ
cblr-1711	246	12	list	list	NOUN
cblr-1711	246	13	of	of	ADP
cblr-1711	246	14	crowdfunding	crowdfunding	NOUN
cblr-1711	246	15	concerns	concern	NOUN
cblr-1711	246	16	,	,	PUNCT
cblr-1711	246	17	forbes	forbes	PROPN
cblr-1711	246	18	(	(	PUNCT
cblr-1711	246	19	nov	nov	PROPN
cblr-1711	246	20	.	.	PROPN
cblr-1711	246	21	29	29	NUM
cblr-1711	246	22	,	,	PUNCT
cblr-1711	246	23	2017	2017	NUM
cblr-1711	246	24	,	,	PUNCT
cblr-1711	246	25	9:46	9:46	NUM
cblr-1711	246	26	pm	pm	NOUN
cblr-1711	246	27	)	)	PUNCT
cblr-1711	246	28	,	,	PUNCT
cblr-1711	246	29	https://www.forbes.com/	https://www.forbes.com/	NOUN
cblr-1711	246	30	sites	site	NOUN
cblr-1711	246	31	/	/	SYM
cblr-1711	246	32	devinthorpe/2017/11/29	devinthorpe/2017/11/29	NOUN
cblr-1711	246	33	/	/	SYM
cblr-1711	246	34	worries	worry	NOUN
cblr-1711	246	35	-	-	PUNCT
cblr-1711	246	36	about	about	ADP
cblr-1711	246	37	-	-	PUNCT
cblr-1711	246	38	fraud	fraud	NOUN
cblr-1711	246	39	-	-	PUNCT
cblr-1711	246	40	top	top	ADJ
cblr-1711	246	41	-	-	PUNCT
cblr-1711	246	42	list	list	NOUN
cblr-1711	246	43	-	-	PUNCT
cblr-1711	246	44	of	of	ADP
cblr-1711	246	45	-	-	PUNCT
cblr-1711	246	46	crowdfundingconcerns/#7749d9ad48f0	crowdfundingconcerns/#7749d9ad48f0	NOUN
cblr-1711	246	47	[	[	X
cblr-1711	246	48	https://perma.cc/b65s-6wym	https://perma.cc/b65s-6wym	PROPN
cblr-1711	246	49	]	]	X
cblr-1711	246	50	;	;	PUNCT
cblr-1711	246	51	cf	cf	X
cblr-1711	246	52	.	.	X
cblr-1711	246	53	drew	draw	VERB
cblr-1711	246	54	prindle	prindle	PROPN
cblr-1711	246	55	,	,	PUNCT
cblr-1711	246	56	do	do	AUX
cblr-1711	246	57	n’t	not	PART
cblr-1711	246	58	get	get	AUX
cblr-1711	246	59	burned	burn	VERB
cblr-1711	246	60	!	!	PUNCT
cblr-1711	247	1	how	how	SCONJ
cblr-1711	247	2	to	to	PART
cblr-1711	247	3	back	back	VERB
cblr-1711	247	4	crowdfunding	crowdfunding	NOUN
cblr-1711	247	5	projects	project	NOUN
cblr-1711	247	6	the	the	DET
cblr-1711	247	7	smart	smart	ADJ
cblr-1711	247	8	way	way	NOUN
cblr-1711	247	9	,	,	PUNCT
cblr-1711	247	10	digital	digital	ADJ
cblr-1711	247	11	trends	trend	NOUN
cblr-1711	247	12	(	(	PUNCT
cblr-1711	247	13	aug	aug	PROPN
cblr-1711	247	14	.	.	PROPN
cblr-1711	247	15	12	12	NUM
cblr-1711	247	16	,	,	PUNCT
cblr-1711	247	17	2018	2018	NUM
cblr-1711	247	18	,	,	PUNCT
cblr-1711	247	19	8:14	8:14	NUM
cblr-1711	247	20	am	am	NOUN
cblr-1711	247	21	)	)	PUNCT
cblr-1711	247	22	,	,	PUNCT
cblr-1711	247	23	https://www.digitaltrends.com/cool-tech/crowdfunding-tips-avoid-scamskickstarter-indiegogo/	https://www.digitaltrends.com/cool-tech/crowdfunding-tips-avoid-scamskickstarter-indiegogo/	PROPN
cblr-1711	248	1	[	[	X
cblr-1711	248	2	https://perma.cc/2lye-lbus	https://perma.cc/2lye-lbus	X
cblr-1711	248	3	]	]	X
cblr-1711	248	4	.	.	PUNCT
cblr-1711	248	5	108	108	NUM
cblr-1711	248	6	farnkoff	farnkoff	NOUN
cblr-1711	248	7	,	,	PUNCT
cblr-1711	248	8	supra	supra	PROPN
cblr-1711	248	9	note	note	PROPN
cblr-1711	248	10	14	14	NUM
cblr-1711	248	11	,	,	PUNCT
cblr-1711	248	12	at	at	ADP
cblr-1711	248	13	161	161	NUM
cblr-1711	248	14	.	.	PUNCT
cblr-1711	249	1	109	109	NUM
cblr-1711	250	1	i	i	PROPN
cblr-1711	250	2	d.	d.	NOUN
cblr-1711	250	3	110	110	NUM
cblr-1711	250	4	i	i	PROPN
cblr-1711	250	5	d.	d.	PROPN
cblr-1711	250	6	111	111	NUM
cblr-1711	251	1	i	i	PROPN
cblr-1711	251	2	d.	d.	PROPN
cblr-1711	251	3	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	251	4	no	no	NOUN
cblr-1711	251	5	.	.	PUNCT
cblr-1711	252	1	3:1060	3:1060	NUM
cblr-1711	252	2	]	]	X
cblr-1711	252	3	biotech	biotech	NOUN
cblr-1711	252	4	crowdfunding	crowdfunde	VERB
cblr-1711	252	5	1081	1081	NUM
cblr-1711	252	6	willing	willing	ADJ
cblr-1711	252	7	to	to	PART
cblr-1711	252	8	part	part	VERB
cblr-1711	252	9	with	with	ADP
cblr-1711	252	10	their	their	PRON
cblr-1711	252	11	money	money	NOUN
cblr-1711	252	12	for	for	ADP
cblr-1711	252	13	a	a	DET
cblr-1711	252	14	good	good	ADJ
cblr-1711	252	15	cause	cause	NOUN
cblr-1711	252	16	.	.	PUNCT
cblr-1711	253	1	”112	”112	PROPN
cblr-1711	254	1	the	the	DET
cblr-1711	254	2	unaccredited	unaccredited	ADJ
cblr-1711	254	3	investor	investor	NOUN
cblr-1711	254	4	discovering	discover	VERB
cblr-1711	254	5	the	the	DET
cblr-1711	254	6	opportunity	opportunity	NOUN
cblr-1711	254	7	to	to	PART
cblr-1711	254	8	invest	invest	VERB
cblr-1711	254	9	in	in	ADP
cblr-1711	254	10	a	a	DET
cblr-1711	254	11	biotech	biotech	ADJ
cblr-1711	254	12	startup	startup	NOUN
cblr-1711	254	13	will	will	AUX
cblr-1711	254	14	not	not	PART
cblr-1711	254	15	be	be	AUX
cblr-1711	254	16	able	able	ADJ
cblr-1711	254	17	to	to	PART
cblr-1711	254	18	conduct	conduct	VERB
cblr-1711	254	19	the	the	DET
cblr-1711	254	20	rigorous	rigorous	ADJ
cblr-1711	254	21	due	due	ADJ
cblr-1711	254	22	diligence	diligence	NOUN
cblr-1711	254	23	that	that	PRON
cblr-1711	254	24	venture	venture	NOUN
cblr-1711	254	25	capital	capital	NOUN
cblr-1711	254	26	firms	firm	NOUN
cblr-1711	254	27	,	,	PUNCT
cblr-1711	254	28	and	and	CCONJ
cblr-1711	254	29	healthcare	healthcare	NOUN
cblr-1711	254	30	venture	venture	NOUN
cblr-1711	254	31	capital	capital	NOUN
cblr-1711	254	32	firms	firm	NOUN
cblr-1711	254	33	in	in	ADP
cblr-1711	254	34	particular	particular	ADJ
cblr-1711	254	35	,	,	PUNCT
cblr-1711	254	36	are	be	AUX
cblr-1711	254	37	trained	train	VERB
cblr-1711	254	38	to	to	PART
cblr-1711	254	39	perform	perform	VERB
cblr-1711	254	40	.	.	PUNCT
cblr-1711	255	1	typical	typical	ADJ
cblr-1711	255	2	venture	venture	NOUN
cblr-1711	255	3	capital	capital	NOUN
cblr-1711	255	4	firms	firm	NOUN
cblr-1711	255	5	and	and	CCONJ
cblr-1711	255	6	angel	angel	NOUN
cblr-1711	255	7	investors	investor	NOUN
cblr-1711	255	8	utilize	utilize	VERB
cblr-1711	255	9	a	a	DET
cblr-1711	255	10	variety	variety	NOUN
cblr-1711	255	11	of	of	ADP
cblr-1711	255	12	tools	tool	NOUN
cblr-1711	255	13	to	to	PART
cblr-1711	255	14	mitigate	mitigate	VERB
cblr-1711	255	15	risks	risk	NOUN
cblr-1711	255	16	when	when	SCONJ
cblr-1711	255	17	investing	invest	VERB
cblr-1711	255	18	in	in	ADP
cblr-1711	255	19	startups	startup	NOUN
cblr-1711	255	20	.	.	PUNCT
cblr-1711	256	1	venture	venture	NOUN
cblr-1711	256	2	capital	capital	NOUN
cblr-1711	256	3	firms	firm	NOUN
cblr-1711	256	4	conduct	conduct	VERB
cblr-1711	256	5	staged	stage	VERB
cblr-1711	256	6	financing	financing	NOUN
cblr-1711	256	7	through	through	ADP
cblr-1711	256	8	detailed	detailed	ADJ
cblr-1711	256	9	investment	investment	NOUN
cblr-1711	256	10	contracts.113	contracts.113	NOUN
cblr-1711	256	11	venture	venture	NOUN
cblr-1711	256	12	capitalists	capitalist	NOUN
cblr-1711	256	13	and	and	CCONJ
cblr-1711	256	14	angel	angel	NOUN
cblr-1711	256	15	investors	investor	NOUN
cblr-1711	256	16	may	may	AUX
cblr-1711	256	17	release	release	VERB
cblr-1711	256	18	money	money	NOUN
cblr-1711	256	19	over	over	ADP
cblr-1711	256	20	time	time	NOUN
cblr-1711	256	21	,	,	PUNCT
cblr-1711	256	22	and	and	CCONJ
cblr-1711	256	23	only	only	ADV
cblr-1711	256	24	when	when	SCONJ
cblr-1711	256	25	the	the	DET
cblr-1711	256	26	startup	startup	NOUN
cblr-1711	256	27	achieves	achieve	VERB
cblr-1711	256	28	certain	certain	ADJ
cblr-1711	256	29	pre	pre	ADJ
cblr-1711	256	30	-	-	ADJ
cblr-1711	256	31	set	set	ADJ
cblr-1711	256	32	milestones.114	milestones.114	NOUN
cblr-1711	256	33	they	they	PRON
cblr-1711	256	34	screen	screen	VERB
cblr-1711	256	35	startups	startup	NOUN
cblr-1711	256	36	in	in	ADP
cblr-1711	256	37	person	person	NOUN
cblr-1711	256	38	,	,	PUNCT
cblr-1711	256	39	sometimes	sometimes	ADV
cblr-1711	256	40	multiple	multiple	ADJ
cblr-1711	256	41	times	time	NOUN
cblr-1711	256	42	,	,	PUNCT
cblr-1711	256	43	and	and	CCONJ
cblr-1711	256	44	they	they	PRON
cblr-1711	256	45	either	either	CCONJ
cblr-1711	256	46	are	be	AUX
cblr-1711	256	47	or	or	CCONJ
cblr-1711	256	48	employ	employ	VERB
cblr-1711	256	49	individuals	individual	NOUN
cblr-1711	256	50	with	with	ADP
cblr-1711	256	51	technical	technical	ADJ
cblr-1711	256	52	expertise	expertise	NOUN
cblr-1711	256	53	in	in	ADP
cblr-1711	256	54	the	the	DET
cblr-1711	256	55	field.115	field.115	NOUN
cblr-1711	256	56	the	the	DET
cblr-1711	256	57	in	in	ADP
cblr-1711	256	58	-	-	PUNCT
cblr-1711	256	59	person	person	NOUN
cblr-1711	256	60	contact	contact	NOUN
cblr-1711	256	61	not	not	PART
cblr-1711	256	62	only	only	ADV
cblr-1711	256	63	weeds	weed	VERB
cblr-1711	256	64	out	out	ADP
cblr-1711	256	65	lowquality	lowquality	NOUN
cblr-1711	256	66	ventures	venture	NOUN
cblr-1711	256	67	,	,	PUNCT
cblr-1711	256	68	but	but	CCONJ
cblr-1711	256	69	also	also	ADV
cblr-1711	256	70	creates	create	VERB
cblr-1711	256	71	a	a	DET
cblr-1711	256	72	bond	bond	NOUN
cblr-1711	256	73	of	of	ADP
cblr-1711	256	74	trust	trust	NOUN
cblr-1711	256	75	that	that	PRON
cblr-1711	256	76	can	can	AUX
cblr-1711	256	77	encourage	encourage	VERB
cblr-1711	256	78	productive	productive	ADJ
cblr-1711	256	79	disclosure.116	disclosure.116	PROPN
cblr-1711	256	80	venture	venture	NOUN
cblr-1711	256	81	capital	capital	NOUN
cblr-1711	256	82	firms	firm	NOUN
cblr-1711	256	83	,	,	PUNCT
cblr-1711	256	84	in	in	ADP
cblr-1711	256	85	addition	addition	NOUN
cblr-1711	256	86	to	to	ADP
cblr-1711	256	87	engaging	engage	VERB
cblr-1711	256	88	in	in	ADP
cblr-1711	256	89	staged	stage	VERB
cblr-1711	256	90	financing	financing	NOUN
cblr-1711	256	91	,	,	PUNCT
cblr-1711	256	92	will	will	AUX
cblr-1711	256	93	“	"	PUNCT
cblr-1711	256	94	take	take	VERB
cblr-1711	256	95	preferred	preferred	ADJ
cblr-1711	256	96	stock	stock	NOUN
cblr-1711	256	97	with	with	ADP
cblr-1711	256	98	liquidation	liquidation	NOUN
cblr-1711	256	99	preferences	preference	NOUN
cblr-1711	256	100	in	in	ADP
cblr-1711	256	101	exchange	exchange	NOUN
cblr-1711	256	102	for	for	ADP
cblr-1711	256	103	their	their	PRON
cblr-1711	256	104	investments	investment	NOUN
cblr-1711	256	105	,	,	PUNCT
cblr-1711	256	106	which	which	PRON
cblr-1711	256	107	signals	signal	VERB
cblr-1711	256	108	the	the	DET
cblr-1711	256	109	entrepreneur	entrepreneur	NOUN
cblr-1711	256	110	’s	’s	PART
cblr-1711	256	111	belief	belief	NOUN
cblr-1711	256	112	that	that	SCONJ
cblr-1711	256	113	the	the	DET
cblr-1711	256	114	startup	startup	NOUN
cblr-1711	256	115	will	will	AUX
cblr-1711	256	116	be	be	AUX
cblr-1711	256	117	worth	worth	ADJ
cblr-1711	256	118	more	more	ADJ
cblr-1711	256	119	than	than	ADP
cblr-1711	256	120	these	these	DET
cblr-1711	256	121	preferences	preference	NOUN
cblr-1711	256	122	.	.	PUNCT
cblr-1711	256	123	”117	”117	PART
cblr-1711	257	1	venture	venture	NOUN
cblr-1711	257	2	capitalists	capitalist	NOUN
cblr-1711	257	3	also	also	ADV
cblr-1711	257	4	frequently	frequently	ADV
cblr-1711	257	5	take	take	VERB
cblr-1711	257	6	board	board	NOUN
cblr-1711	257	7	positions	position	NOUN
cblr-1711	257	8	in	in	ADP
cblr-1711	257	9	the	the	DET
cblr-1711	257	10	startup	startup	NOUN
cblr-1711	257	11	,	,	PUNCT
cblr-1711	257	12	and	and	CCONJ
cblr-1711	257	13	angel	angel	NOUN
cblr-1711	257	14	investors	investor	NOUN
cblr-1711	257	15	will	will	AUX
cblr-1711	257	16	similarly	similarly	ADV
cblr-1711	257	17	visit	visit	VERB
cblr-1711	257	18	and	and	CCONJ
cblr-1711	257	19	engage	engage	VERB
cblr-1711	257	20	with	with	ADP
cblr-1711	257	21	the	the	DET
cblr-1711	257	22	startups	startup	NOUN
cblr-1711	257	23	they	they	PRON
cblr-1711	257	24	fund.118	fund.118	VERB
cblr-1711	257	25	by	by	ADP
cblr-1711	257	26	taking	take	VERB
cblr-1711	257	27	a	a	DET
cblr-1711	257	28	corporate	corporate	ADJ
cblr-1711	257	29	governance	governance	NOUN
cblr-1711	257	30	role	role	NOUN
cblr-1711	257	31	either	either	CCONJ
cblr-1711	257	32	formally	formally	ADV
cblr-1711	257	33	or	or	CCONJ
cblr-1711	257	34	informally	informally	ADV
cblr-1711	257	35	postinvestment	postinvestment	NOUN
cblr-1711	257	36	,	,	PUNCT
cblr-1711	257	37	as	as	ADV
cblr-1711	257	38	well	well	ADV
cblr-1711	257	39	as	as	ADP
cblr-1711	257	40	by	by	ADP
cblr-1711	257	41	taking	take	VERB
cblr-1711	257	42	numerous	numerous	ADJ
cblr-1711	257	43	measures	measure	NOUN
cblr-1711	257	44	to	to	PART
cblr-1711	257	45	research	research	VERB
cblr-1711	257	46	and	and	CCONJ
cblr-1711	257	47	contract	contract	NOUN
cblr-1711	257	48	before	before	ADP
cblr-1711	257	49	making	make	VERB
cblr-1711	257	50	an	an	DET
cblr-1711	257	51	investment	investment	NOUN
cblr-1711	257	52	,	,	PUNCT
cblr-1711	257	53	venture	venture	NOUN
cblr-1711	257	54	capital	capital	NOUN
cblr-1711	257	55	firms	firm	NOUN
cblr-1711	257	56	and	and	CCONJ
cblr-1711	257	57	angel	angel	NOUN
cblr-1711	257	58	investors	investor	NOUN
cblr-1711	257	59	are	be	AUX
cblr-1711	257	60	better	well	ADJ
cblr-1711	257	61	able	able	ADJ
cblr-1711	257	62	to	to	PART
cblr-1711	257	63	reduce	reduce	VERB
cblr-1711	257	64	the	the	DET
cblr-1711	257	65	agency	agency	NOUN
cblr-1711	257	66	costs	cost	NOUN
cblr-1711	257	67	that	that	PRON
cblr-1711	257	68	result	result	VERB
cblr-1711	257	69	from	from	ADP
cblr-1711	257	70	asymmetrical	asymmetrical	ADJ
cblr-1711	257	71	information	information	NOUN
cblr-1711	257	72	and	and	CCONJ
cblr-1711	257	73	extreme	extreme	ADJ
cblr-1711	257	74	levels	level	NOUN
cblr-1711	257	75	of	of	ADP
cblr-1711	257	76	uncertainty	uncertainty	NOUN
cblr-1711	257	77	during	during	ADP
cblr-1711	257	78	the	the	DET
cblr-1711	257	79	initial	initial	ADJ
cblr-1711	257	80	stages	stage	NOUN
cblr-1711	257	81	of	of	ADP
cblr-1711	257	82	startup	startup	NOUN
cblr-1711	258	1	financing.119	financing.119	PROPN
cblr-1711	258	2	112	112	NUM
cblr-1711	259	1	i	i	PRON
cblr-1711	259	2	d.	d.	PROPN
cblr-1711	259	3	at	at	ADP
cblr-1711	259	4	162	162	NUM
cblr-1711	259	5	.	.	PUNCT
cblr-1711	259	6	113	113	NUM
cblr-1711	259	7	ibrahim	ibrahim	PROPN
cblr-1711	259	8	,	,	PUNCT
cblr-1711	259	9	supra	supra	PROPN
cblr-1711	259	10	note	note	PROPN
cblr-1711	259	11	14	14	NUM
cblr-1711	259	12	,	,	PUNCT
cblr-1711	259	13	at	at	ADP
cblr-1711	259	14	574	574	NUM
cblr-1711	259	15	.	.	PUNCT
cblr-1711	260	1	114	114	NUM
cblr-1711	260	2	i	i	PROPN
cblr-1711	260	3	d.	d.	PROPN
cblr-1711	260	4	115	115	NUM
cblr-1711	260	5	see	see	VERB
cblr-1711	260	6	i	i	PRON
cblr-1711	260	7	d.	d.	PROPN
cblr-1711	260	8	at	at	ADP
cblr-1711	260	9	575–76	575–76	PROPN
cblr-1711	260	10	.	.	PUNCT
cblr-1711	261	1	116	116	NUM
cblr-1711	261	2	see	see	VERB
cblr-1711	261	3	i	i	PRON
cblr-1711	261	4	d.	d.	PROPN
cblr-1711	261	5	at	at	ADP
cblr-1711	261	6	576	576	NUM
cblr-1711	261	7	.	.	PUNCT
cblr-1711	262	1	117	117	NUM
cblr-1711	262	2	i	i	PROPN
cblr-1711	262	3	d.	d.	PROPN
cblr-1711	262	4	at	at	ADP
cblr-1711	262	5	574	574	NUM
cblr-1711	262	6	.	.	PUNCT
cblr-1711	263	1	118	118	NUM
cblr-1711	264	1	i	i	NOUN
cblr-1711	264	2	d.	d.	PROPN
cblr-1711	264	3	at	at	ADP
cblr-1711	264	4	575–76	575–76	NUM
cblr-1711	264	5	.	.	PUNCT
cblr-1711	265	1	119	119	NUM
cblr-1711	266	1	i	i	PRON
cblr-1711	266	2	d.	d.	NOUN
cblr-1711	266	3	at	at	ADP
cblr-1711	266	4	574	574	NUM
cblr-1711	266	5	,	,	PUNCT
cblr-1711	266	6	576	576	NUM
cblr-1711	266	7	.	.	X
cblr-1711	266	8	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	266	9	1082	1082	NUM
cblr-1711	266	10	columbia	columbia	PROPN
cblr-1711	266	11	business	business	NOUN
cblr-1711	266	12	law	law	PROPN
cblr-1711	266	13	review	review	NOUN
cblr-1711	266	14	[	[	X
cblr-1711	266	15	vol	vol	NOUN
cblr-1711	266	16	.	.	PUNCT
cblr-1711	266	17	2018	2018	NUM
cblr-1711	266	18	crowdfunding	crowdfunding	NOUN
cblr-1711	266	19	investors	investor	NOUN
cblr-1711	266	20	can	can	AUX
cblr-1711	266	21	not	not	PART
cblr-1711	266	22	employ	employ	VERB
cblr-1711	266	23	the	the	DET
cblr-1711	266	24	mixture	mixture	NOUN
cblr-1711	266	25	of	of	ADP
cblr-1711	266	26	screens	screen	NOUN
cblr-1711	266	27	used	use	VERB
cblr-1711	266	28	by	by	ADP
cblr-1711	266	29	angel	angel	NOUN
cblr-1711	266	30	investors	investor	NOUN
cblr-1711	266	31	and	and	CCONJ
cblr-1711	266	32	venture	venture	NOUN
cblr-1711	266	33	capital	capital	NOUN
cblr-1711	266	34	firms	firm	NOUN
cblr-1711	266	35	prior	prior	ADV
cblr-1711	266	36	to	to	ADP
cblr-1711	266	37	or	or	CCONJ
cblr-1711	266	38	during	during	ADP
cblr-1711	266	39	the	the	DET
cblr-1711	266	40	investment	investment	NOUN
cblr-1711	266	41	period	period	NOUN
cblr-1711	266	42	.	.	PUNCT
cblr-1711	267	1	instead	instead	ADV
cblr-1711	267	2	,	,	PUNCT
cblr-1711	267	3	crowdfunding	crowdfunde	VERB
cblr-1711	267	4	investors	investor	NOUN
cblr-1711	267	5	may	may	AUX
cblr-1711	267	6	rely	rely	VERB
cblr-1711	267	7	only	only	ADV
cblr-1711	267	8	on	on	ADP
cblr-1711	267	9	information	information	NOUN
cblr-1711	267	10	directly	directly	ADV
cblr-1711	267	11	available	available	ADJ
cblr-1711	267	12	on	on	ADP
cblr-1711	267	13	the	the	DET
cblr-1711	267	14	intermediary	intermediary	NOUN
cblr-1711	267	15	’s	’s	PART
cblr-1711	267	16	platform	platform	NOUN
cblr-1711	267	17	or	or	CCONJ
cblr-1711	267	18	notices	notice	NOUN
cblr-1711	267	19	directing	direct	VERB
cblr-1711	267	20	the	the	DET
cblr-1711	267	21	investor	investor	NOUN
cblr-1711	267	22	to	to	ADP
cblr-1711	267	23	the	the	DET
cblr-1711	267	24	funding	funding	NOUN
cblr-1711	267	25	portal	portal	NOUN
cblr-1711	267	26	or	or	CCONJ
cblr-1711	267	27	broker.120	broker.120	VERB
cblr-1711	267	28	the	the	DET
cblr-1711	267	29	jobs	job	NOUN
cblr-1711	267	30	act	act	PROPN
cblr-1711	267	31	prohibits	prohibit	VERB
cblr-1711	267	32	the	the	DET
cblr-1711	267	33	issuer	issuer	NOUN
cblr-1711	267	34	from	from	ADP
cblr-1711	267	35	advertising	advertise	VERB
cblr-1711	267	36	“	"	PUNCT
cblr-1711	267	37	the	the	DET
cblr-1711	267	38	terms	term	NOUN
cblr-1711	267	39	of	of	ADP
cblr-1711	267	40	the	the	DET
cblr-1711	267	41	offering	offering	NOUN
cblr-1711	267	42	,	,	PUNCT
cblr-1711	267	43	except	except	SCONJ
cblr-1711	267	44	for	for	ADP
cblr-1711	267	45	notices	notice	NOUN
cblr-1711	267	46	which	which	PRON
cblr-1711	267	47	direct	direct	ADJ
cblr-1711	267	48	investors	investor	NOUN
cblr-1711	267	49	to	to	ADP
cblr-1711	267	50	the	the	DET
cblr-1711	267	51	funding	funding	NOUN
cblr-1711	267	52	portal	portal	PROPN
cblr-1711	267	53	or	or	CCONJ
cblr-1711	267	54	broker	broker	NOUN
cblr-1711	267	55	.	.	PUNCT
cblr-1711	267	56	”121	”121	PUNCT
cblr-1711	268	1	thus	thus	ADV
cblr-1711	268	2	,	,	PUNCT
cblr-1711	268	3	any	any	DET
cblr-1711	268	4	advertising	advertising	NOUN
cblr-1711	268	5	made	make	VERB
cblr-1711	268	6	through	through	ADP
cblr-1711	268	7	a	a	DET
cblr-1711	268	8	communication	communication	NOUN
cblr-1711	268	9	channel	channel	NOUN
cblr-1711	268	10	other	other	ADJ
cblr-1711	268	11	than	than	ADP
cblr-1711	268	12	directly	directly	ADV
cblr-1711	268	13	on	on	ADP
cblr-1711	268	14	the	the	DET
cblr-1711	268	15	intermediary	intermediary	NOUN
cblr-1711	268	16	’s	’s	PART
cblr-1711	268	17	platform	platform	NOUN
cblr-1711	268	18	must	must	AUX
cblr-1711	268	19	be	be	AUX
cblr-1711	268	20	limited	limit	VERB
cblr-1711	268	21	to	to	ADP
cblr-1711	268	22	these	these	DET
cblr-1711	268	23	notices	notice	NOUN
cblr-1711	268	24	,	,	PUNCT
cblr-1711	268	25	which	which	PRON
cblr-1711	268	26	can	can	AUX
cblr-1711	268	27	include	include	VERB
cblr-1711	268	28	no	no	DET
cblr-1711	268	29	more	more	ADJ
cblr-1711	268	30	than	than	ADP
cblr-1711	268	31	a	a	DET
cblr-1711	268	32	statement	statement	NOUN
cblr-1711	268	33	that	that	SCONJ
cblr-1711	268	34	the	the	DET
cblr-1711	268	35	issuer	issuer	NOUN
cblr-1711	268	36	is	be	AUX
cblr-1711	268	37	conducting	conduct	VERB
cblr-1711	268	38	a	a	DET
cblr-1711	268	39	crowdfunding	crowdfunding	NOUN
cblr-1711	268	40	offering	offering	NOUN
cblr-1711	268	41	,	,	PUNCT
cblr-1711	268	42	the	the	DET
cblr-1711	268	43	name	name	NOUN
cblr-1711	268	44	of	of	ADP
cblr-1711	268	45	the	the	DET
cblr-1711	268	46	intermediary	intermediary	NOUN
cblr-1711	268	47	,	,	PUNCT
cblr-1711	268	48	a	a	DET
cblr-1711	268	49	link	link	NOUN
cblr-1711	268	50	directing	direct	VERB
cblr-1711	268	51	the	the	DET
cblr-1711	268	52	investor	investor	NOUN
cblr-1711	268	53	to	to	ADP
cblr-1711	268	54	the	the	DET
cblr-1711	268	55	intermediary	intermediary	NOUN
cblr-1711	268	56	’s	’s	PART
cblr-1711	268	57	platform	platform	NOUN
cblr-1711	268	58	,	,	PUNCT
cblr-1711	268	59	the	the	DET
cblr-1711	268	60	terms	term	NOUN
cblr-1711	268	61	of	of	ADP
cblr-1711	268	62	the	the	DET
cblr-1711	268	63	offering	offering	NOUN
cblr-1711	268	64	(	(	PUNCT
cblr-1711	268	65	defined	define	VERB
cblr-1711	268	66	as	as	ADP
cblr-1711	268	67	the	the	DET
cblr-1711	268	68	nature	nature	NOUN
cblr-1711	268	69	,	,	PUNCT
cblr-1711	268	70	price	price	NOUN
cblr-1711	268	71	,	,	PUNCT
cblr-1711	268	72	and	and	CCONJ
cblr-1711	268	73	amount	amount	NOUN
cblr-1711	268	74	of	of	ADP
cblr-1711	268	75	the	the	DET
cblr-1711	268	76	securities	security	NOUN
cblr-1711	268	77	offered	offer	VERB
cblr-1711	268	78	and	and	CCONJ
cblr-1711	268	79	the	the	DET
cblr-1711	268	80	closing	closing	NOUN
cblr-1711	268	81	date	date	NOUN
cblr-1711	268	82	of	of	ADP
cblr-1711	268	83	the	the	DET
cblr-1711	268	84	offering	offering	NOUN
cblr-1711	268	85	period	period	NOUN
cblr-1711	268	86	)	)	PUNCT
cblr-1711	268	87	,	,	PUNCT
cblr-1711	268	88	and	and	CCONJ
cblr-1711	268	89	narrow	narrow	ADJ
cblr-1711	268	90	factual	factual	ADJ
cblr-1711	268	91	information	information	NOUN
cblr-1711	268	92	about	about	ADP
cblr-1711	268	93	the	the	DET
cblr-1711	268	94	legal	legal	ADJ
cblr-1711	268	95	identity	identity	NOUN
cblr-1711	268	96	and	and	CCONJ
cblr-1711	268	97	business	business	NOUN
cblr-1711	268	98	location	location	NOUN
cblr-1711	268	99	of	of	ADP
cblr-1711	268	100	the	the	DET
cblr-1711	268	101	issuer.122	issuer.122	NOUN
cblr-1711	268	102	the	the	DET
cblr-1711	268	103	sec	sec	PROPN
cblr-1711	268	104	’s	’s	PART
cblr-1711	268	105	limitation	limitation	NOUN
cblr-1711	268	106	on	on	ADP
cblr-1711	268	107	advertising	advertising	NOUN
cblr-1711	268	108	was	be	AUX
cblr-1711	268	109	intended	intend	VERB
cblr-1711	268	110	in	in	ADP
cblr-1711	268	111	part	part	NOUN
cblr-1711	268	112	to	to	PART
cblr-1711	268	113	protect	protect	VERB
cblr-1711	268	114	investors	investor	NOUN
cblr-1711	268	115	by	by	ADP
cblr-1711	268	116	“	"	PUNCT
cblr-1711	268	117	directing	direct	VERB
cblr-1711	268	118	them	they	PRON
cblr-1711	268	119	to	to	ADP
cblr-1711	268	120	the	the	DET
cblr-1711	268	121	intermediary	intermediary	NOUN
cblr-1711	268	122	’s	’s	PART
cblr-1711	268	123	platform	platform	NOUN
cblr-1711	268	124	where	where	SCONJ
cblr-1711	268	125	they	they	PRON
cblr-1711	268	126	can	can	AUX
cblr-1711	268	127	access	access	VERB
cblr-1711	268	128	the	the	DET
cblr-1711	268	129	disclosures	disclosure	NOUN
cblr-1711	268	130	necessary	necessary	ADJ
cblr-1711	268	131	for	for	SCONJ
cblr-1711	268	132	them	they	PRON
cblr-1711	268	133	to	to	PART
cblr-1711	268	134	make	make	VERB
cblr-1711	268	135	informed	informed	ADJ
cblr-1711	268	136	investment	investment	NOUN
cblr-1711	268	137	decisions	decision	NOUN
cblr-1711	268	138	.	.	PUNCT
cblr-1711	269	1	”123	”123	VERB
cblr-1711	269	2	these	these	DET
cblr-1711	269	3	disclosures	disclosure	NOUN
cblr-1711	269	4	,	,	PUNCT
cblr-1711	269	5	discussed	discuss	VERB
cblr-1711	269	6	infra	infra	NOUN
cblr-1711	269	7	section	section	NOUN
cblr-1711	269	8	iv.a	iv.a	VERB
cblr-1711	269	9	,	,	PUNCT
cblr-1711	269	10	may	may	AUX
cblr-1711	269	11	be	be	AUX
cblr-1711	269	12	insufficient	insufficient	ADJ
cblr-1711	269	13	for	for	ADP
cblr-1711	269	14	crowdfunding	crowdfunde	VERB
cblr-1711	269	15	investors	investor	NOUN
cblr-1711	269	16	in	in	ADP
cblr-1711	269	17	the	the	DET
cblr-1711	269	18	biotech	biotech	NOUN
cblr-1711	269	19	sector.124	sector.124	NOUN
cblr-1711	269	20	instead	instead	ADV
cblr-1711	269	21	of	of	ADP
cblr-1711	269	22	the	the	DET
cblr-1711	269	23	product	product	NOUN
cblr-1711	269	24	’s	’s	PART
cblr-1711	269	25	scientific	scientific	ADJ
cblr-1711	269	26	and	and	CCONJ
cblr-1711	269	27	technical	technical	ADJ
cblr-1711	269	28	information	information	NOUN
cblr-1711	269	29	,	,	PUNCT
cblr-1711	269	30	which	which	PRON
cblr-1711	269	31	would	would	AUX
cblr-1711	269	32	be	be	AUX
cblr-1711	269	33	carefully	carefully	ADV
cblr-1711	269	34	reviewed	review	VERB
cblr-1711	269	35	by	by	ADP
cblr-1711	269	36	potential	potential	ADJ
cblr-1711	269	37	angel	angel	NOUN
cblr-1711	269	38	investors	investor	NOUN
cblr-1711	269	39	and	and	CCONJ
cblr-1711	269	40	venture	venture	NOUN
cblr-1711	269	41	capital	capital	NOUN
cblr-1711	269	42	firms	firm	NOUN
cblr-1711	269	43	,	,	PUNCT
cblr-1711	269	44	these	these	DET
cblr-1711	269	45	mandatory	mandatory	ADJ
cblr-1711	269	46	crowdfunding	crowdfunding	NOUN
cblr-1711	269	47	disclosures	disclosure	NOUN
cblr-1711	269	48	focus	focus	VERB
cblr-1711	269	49	primarily	primarily	ADV
cblr-1711	269	50	on	on	ADP
cblr-1711	269	51	the	the	DET
cblr-1711	269	52	offering	offering	NOUN
cblr-1711	269	53	itself	itself	PRON
cblr-1711	269	54	120	120	NUM
cblr-1711	269	55	see	see	NOUN
cblr-1711	269	56	crowdfunding	crowdfunding	NOUN
cblr-1711	269	57	,	,	PUNCT
cblr-1711	269	58	80	80	NUM
cblr-1711	269	59	fed	feed	VERB
cblr-1711	269	60	.	.	PUNCT
cblr-1711	270	1	reg	reg	AUX
cblr-1711	270	2	.	.	PROPN
cblr-1711	270	3	71,387	71,387	NUM
cblr-1711	270	4	,	,	PUNCT
cblr-1711	270	5	71,424–25	71,424–25	NUM
cblr-1711	270	6	(	(	PUNCT
cblr-1711	270	7	may	may	PROPN
cblr-1711	270	8	16	16	NUM
cblr-1711	270	9	,	,	PUNCT
cblr-1711	270	10	2015	2015	NUM
cblr-1711	270	11	)	)	PUNCT
cblr-1711	270	12	(	(	PUNCT
cblr-1711	270	13	to	to	PART
cblr-1711	270	14	be	be	AUX
cblr-1711	270	15	codified	codify	VERB
cblr-1711	270	16	at	at	ADP
cblr-1711	270	17	17	17	NUM
cblr-1711	270	18	c.f.r	c.f.r	NOUN
cblr-1711	270	19	.	.	PUNCT
cblr-1711	271	1	pt	pt	PROPN
cblr-1711	271	2	.	.	PROPN
cblr-1711	271	3	200	200	NUM
cblr-1711	271	4	,	,	PUNCT
cblr-1711	271	5	227	227	NUM
cblr-1711	271	6	,	,	PUNCT
cblr-1711	271	7	232	232	NUM
cblr-1711	271	8	,	,	PUNCT
cblr-1711	271	9	239	239	NUM
cblr-1711	271	10	,	,	PUNCT
cblr-1711	271	11	240	240	NUM
cblr-1711	271	12	,	,	PUNCT
cblr-1711	271	13	249	249	NUM
cblr-1711	271	14	,	,	PUNCT
cblr-1711	271	15	269	269	NUM
cblr-1711	271	16	,	,	PUNCT
cblr-1711	271	17	274	274	NUM
cblr-1711	271	18	)	)	PUNCT
cblr-1711	271	19	.	.	PUNCT
cblr-1711	272	1	121	121	NUM
cblr-1711	272	2	15	15	NUM
cblr-1711	272	3	u.s.c	u.s.c	ADJ
cblr-1711	272	4	.	.	PUNCT
cblr-1711	273	1	§	§	PROPN
cblr-1711	273	2	77d-1(b)(2	77d-1(b)(2	PROPN
cblr-1711	273	3	)	)	PUNCT
cblr-1711	273	4	(	(	PUNCT
cblr-1711	273	5	2012	2012	NUM
cblr-1711	273	6	)	)	PUNCT
cblr-1711	273	7	.	.	PUNCT
cblr-1711	274	1	122	122	NUM
cblr-1711	274	2	see	see	VERB
cblr-1711	274	3	crowdfunding	crowdfunding	NOUN
cblr-1711	274	4	,	,	PUNCT
cblr-1711	274	5	80	80	NUM
cblr-1711	274	6	fed	feed	VERB
cblr-1711	274	7	.	.	PUNCT
cblr-1711	275	1	reg	reg	PROPN
cblr-1711	275	2	.	.	PUNCT
cblr-1711	276	1	at	at	ADP
cblr-1711	276	2	71,424–25	71,424–25	NUM
cblr-1711	276	3	;	;	PUNCT
cblr-1711	276	4	see	see	VERB
cblr-1711	276	5	also	also	ADV
cblr-1711	276	6	17	17	NUM
cblr-1711	276	7	c.f.r	c.f.r	NOUN
cblr-1711	276	8	.	.	PUNCT
cblr-1711	277	1	§	§	PROPN
cblr-1711	277	2	227.204	227.204	NUM
cblr-1711	277	3	(	(	PUNCT
cblr-1711	277	4	2015	2015	NUM
cblr-1711	277	5	)	)	PUNCT
cblr-1711	277	6	.	.	PUNCT
cblr-1711	278	1	123	123	NUM
cblr-1711	278	2	see	see	VERB
cblr-1711	278	3	crowdfunding	crowdfunding	NOUN
cblr-1711	278	4	,	,	PUNCT
cblr-1711	278	5	80	80	NUM
cblr-1711	278	6	fed	feed	VERB
cblr-1711	278	7	.	.	PUNCT
cblr-1711	279	1	reg	reg	PROPN
cblr-1711	279	2	.	.	PUNCT
cblr-1711	280	1	at	at	ADP
cblr-1711	280	2	71,425	71,425	NUM
cblr-1711	280	3	.	.	PUNCT
cblr-1711	281	1	124	124	NUM
cblr-1711	281	2	see	see	VERB
cblr-1711	281	3	infra	infra	NOUN
cblr-1711	281	4	text	text	NOUN
cblr-1711	281	5	accompanying	accompany	VERB
cblr-1711	281	6	notes	note	NOUN
cblr-1711	281	7	173–175	173–175	NUM
cblr-1711	281	8	;	;	PUNCT
cblr-1711	281	9	see	see	VERB
cblr-1711	281	10	also	also	ADV
cblr-1711	281	11	supra	supra	ADJ
cblr-1711	281	12	notes	note	VERB
cblr-1711	281	13	61	61	NUM
cblr-1711	281	14	–	–	PUNCT
cblr-1711	281	15	64	64	NUM
cblr-1711	281	16	and	and	CCONJ
cblr-1711	281	17	accompanying	accompany	VERB
cblr-1711	281	18	text	text	NOUN
cblr-1711	281	19	.	.	PUNCT
cblr-1711	282	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	282	2	no	no	NOUN
cblr-1711	282	3	.	.	NOUN
cblr-1711	283	1	3:1060	3:1060	NUM
cblr-1711	283	2	]	]	X
cblr-1711	283	3	biotech	biotech	NOUN
cblr-1711	283	4	crowdfunding	crowdfunde	VERB
cblr-1711	283	5	1083	1083	NUM
cblr-1711	283	6	and	and	CCONJ
cblr-1711	283	7	the	the	DET
cblr-1711	283	8	financial	financial	ADJ
cblr-1711	283	9	condition	condition	NOUN
cblr-1711	283	10	of	of	ADP
cblr-1711	283	11	the	the	DET
cblr-1711	283	12	issuer.125	issuer.125	PROPN
cblr-1711	283	13	a	a	DET
cblr-1711	283	14	crowdfunding	crowdfunding	NOUN
cblr-1711	283	15	issuer	issuer	NOUN
cblr-1711	283	16	can	can	AUX
cblr-1711	283	17	“	"	PUNCT
cblr-1711	283	18	communicate	communicate	VERB
cblr-1711	283	19	other	other	ADJ
cblr-1711	283	20	information	information	NOUN
cblr-1711	283	21	that	that	PRON
cblr-1711	283	22	might	might	AUX
cblr-1711	283	23	occur	occur	VERB
cblr-1711	283	24	in	in	ADP
cblr-1711	283	25	the	the	DET
cblr-1711	283	26	ordinary	ordinary	ADJ
cblr-1711	283	27	course	course	NOUN
cblr-1711	283	28	of	of	ADP
cblr-1711	283	29	its	its	PRON
cblr-1711	283	30	operations	operation	NOUN
cblr-1711	283	31	and	and	CCONJ
cblr-1711	283	32	that	that	PRON
cblr-1711	283	33	does	do	AUX
cblr-1711	283	34	not	not	PART
cblr-1711	283	35	refer	refer	VERB
cblr-1711	283	36	to	to	ADP
cblr-1711	283	37	the	the	DET
cblr-1711	283	38	terms	term	NOUN
cblr-1711	283	39	of	of	ADP
cblr-1711	283	40	the	the	DET
cblr-1711	283	41	offering	offering	NOUN
cblr-1711	283	42	”	"	PUNCT
cblr-1711	283	43	without	without	ADP
cblr-1711	283	44	violating	violate	VERB
cblr-1711	283	45	the	the	DET
cblr-1711	283	46	advertising	advertising	NOUN
cblr-1711	283	47	prohibition.126	prohibition.126	NOUN
cblr-1711	283	48	however	however	ADV
cblr-1711	283	49	,	,	PUNCT
cblr-1711	283	50	this	this	PRON
cblr-1711	283	51	permitted	permit	VERB
cblr-1711	283	52	factual	factual	ADJ
cblr-1711	283	53	business	business	NOUN
cblr-1711	283	54	information	information	NOUN
cblr-1711	283	55	carries	carry	VERB
cblr-1711	283	56	risks	risk	NOUN
cblr-1711	283	57	to	to	ADP
cblr-1711	283	58	biotech	biotech	ADJ
cblr-1711	283	59	crowdfunding	crowdfunding	NOUN
cblr-1711	283	60	investors	investor	NOUN
cblr-1711	283	61	because	because	SCONJ
cblr-1711	283	62	it	it	PRON
cblr-1711	283	63	can	can	AUX
cblr-1711	283	64	also	also	ADV
cblr-1711	283	65	be	be	AUX
cblr-1711	283	66	incomplete	incomplete	ADJ
cblr-1711	283	67	,	,	PUNCT
cblr-1711	283	68	misleading	misleading	ADJ
cblr-1711	283	69	,	,	PUNCT
cblr-1711	283	70	or	or	CCONJ
cblr-1711	283	71	even	even	ADV
cblr-1711	283	72	fraudulent	fraudulent	ADJ
cblr-1711	283	73	.	.	PUNCT
cblr-1711	284	1	b.	b.	PROPN
cblr-1711	284	2	crowdfunding	crowdfunde	VERB
cblr-1711	284	3	investor	investor	NOUN
cblr-1711	284	4	limits	limit	NOUN
cblr-1711	284	5	to	to	PART
cblr-1711	284	6	reduce	reduce	VERB
cblr-1711	284	7	the	the	DET
cblr-1711	284	8	potential	potential	ADJ
cblr-1711	284	9	harms	harm	NOUN
cblr-1711	284	10	to	to	ADP
cblr-1711	284	11	investors	investor	NOUN
cblr-1711	284	12	,	,	PUNCT
cblr-1711	284	13	the	the	DET
cblr-1711	284	14	crowdfunding	crowdfunding	NOUN
cblr-1711	284	15	provision	provision	NOUN
cblr-1711	284	16	anticipated	anticipate	VERB
cblr-1711	284	17	several	several	ADJ
cblr-1711	284	18	protective	protective	ADJ
cblr-1711	284	19	measures	measure	NOUN
cblr-1711	284	20	aimed	aim	VERB
cblr-1711	284	21	at	at	ADP
cblr-1711	284	22	keeping	keep	VERB
cblr-1711	284	23	individual	individual	ADJ
cblr-1711	284	24	investment	investment	NOUN
cblr-1711	284	25	at	at	ADP
cblr-1711	284	26	low	low	ADJ
cblr-1711	284	27	dollar	dollar	NOUN
cblr-1711	284	28	amounts	amount	NOUN
cblr-1711	284	29	.	.	PUNCT
cblr-1711	285	1	the	the	DET
cblr-1711	285	2	statute	statute	NOUN
cblr-1711	285	3	provides	provide	VERB
cblr-1711	285	4	a	a	DET
cblr-1711	285	5	“	"	PUNCT
cblr-1711	285	6	single	single	ADJ
cblr-1711	285	7	-	-	PUNCT
cblr-1711	285	8	issuer	issuer	NOUN
cblr-1711	285	9	investment	investment	NOUN
cblr-1711	285	10	limit	limit	NOUN
cblr-1711	285	11	,	,	PUNCT
cblr-1711	285	12	”	"	PUNCT
cblr-1711	285	13	a	a	DET
cblr-1711	285	14	limit	limit	NOUN
cblr-1711	285	15	on	on	ADP
cblr-1711	285	16	how	how	SCONJ
cblr-1711	285	17	much	much	ADJ
cblr-1711	285	18	investors	investor	NOUN
cblr-1711	285	19	can	can	AUX
cblr-1711	285	20	invest	invest	VERB
cblr-1711	285	21	in	in	ADP
cblr-1711	285	22	a	a	DET
cblr-1711	285	23	single	single	ADJ
cblr-1711	285	24	venture	venture	NOUN
cblr-1711	285	25	,	,	PUNCT
cblr-1711	285	26	and	and	CCONJ
cblr-1711	285	27	an	an	DET
cblr-1711	285	28	“	"	PUNCT
cblr-1711	285	29	aggregate	aggregate	ADJ
cblr-1711	285	30	investment	investment	NOUN
cblr-1711	285	31	limit	limit	NOUN
cblr-1711	285	32	”	"	PUNCT
cblr-1711	285	33	that	that	PRON
cblr-1711	285	34	requires	require	VERB
cblr-1711	285	35	intermediaries	intermediary	NOUN
cblr-1711	285	36	to	to	PART
cblr-1711	285	37	ensure	ensure	VERB
cblr-1711	285	38	that	that	SCONJ
cblr-1711	285	39	investors	investor	NOUN
cblr-1711	285	40	do	do	AUX
cblr-1711	285	41	not	not	PART
cblr-1711	285	42	exceed	exceed	VERB
cblr-1711	285	43	their	their	PRON
cblr-1711	285	44	limits	limit	NOUN
cblr-1711	285	45	among	among	ADP
cblr-1711	285	46	all	all	DET
cblr-1711	285	47	ventures.127	ventures.127	NOUN
cblr-1711	285	48	the	the	DET
cblr-1711	285	49	single	single	ADJ
cblr-1711	285	50	-	-	PUNCT
cblr-1711	285	51	issuer	issuer	NOUN
cblr-1711	285	52	investment	investment	NOUN
cblr-1711	285	53	limit	limit	NOUN
cblr-1711	285	54	is	be	AUX
cblr-1711	285	55	defined	define	VERB
cblr-1711	285	56	as	as	ADP
cblr-1711	285	57	a	a	DET
cblr-1711	285	58	proportion	proportion	NOUN
cblr-1711	285	59	or	or	CCONJ
cblr-1711	285	60	maximum	maximum	ADJ
cblr-1711	285	61	dollar	dollar	NOUN
cblr-1711	285	62	amount	amount	NOUN
cblr-1711	285	63	of	of	ADP
cblr-1711	285	64	the	the	DET
cblr-1711	285	65	investor	investor	NOUN
cblr-1711	285	66	’s	’s	PART
cblr-1711	285	67	annual	annual	ADJ
cblr-1711	285	68	income	income	NOUN
cblr-1711	285	69	or	or	CCONJ
cblr-1711	285	70	net	net	ADJ
cblr-1711	285	71	worth.128	worth.128	NOUN
cblr-1711	285	72	if	if	SCONJ
cblr-1711	285	73	any	any	DET
cblr-1711	285	74	one	one	NUM
cblr-1711	285	75	investor	investor	NOUN
cblr-1711	285	76	exceeds	exceed	VERB
cblr-1711	285	77	this	this	DET
cblr-1711	285	78	amount	amount	NOUN
cblr-1711	285	79	with	with	ADP
cblr-1711	285	80	any	any	DET
cblr-1711	285	81	one	one	NUM
cblr-1711	285	82	issuer	issuer	NOUN
cblr-1711	285	83	,	,	PUNCT
cblr-1711	285	84	the	the	DET
cblr-1711	285	85	issuer	issuer	NOUN
cblr-1711	285	86	loses	lose	VERB
cblr-1711	285	87	its	its	PRON
cblr-1711	285	88	registration	registration	NOUN
cblr-1711	285	89	exemption.129	exemption.129	NOUN
cblr-1711	285	90	on	on	ADP
cblr-1711	285	91	the	the	DET
cblr-1711	285	92	other	other	ADJ
cblr-1711	285	93	hand	hand	NOUN
cblr-1711	285	94	,	,	PUNCT
cblr-1711	285	95	the	the	DET
cblr-1711	285	96	registration	registration	NOUN
cblr-1711	285	97	exemption	exemption	NOUN
cblr-1711	285	98	is	be	AUX
cblr-1711	285	99	not	not	PART
cblr-1711	285	100	conditioned	condition	VERB
cblr-1711	285	101	on	on	ADP
cblr-1711	285	102	all	all	DET
cblr-1711	285	103	investors	investor	NOUN
cblr-1711	285	104	staying	stay	VERB
cblr-1711	285	105	within	within	ADP
cblr-1711	285	106	their	their	PRON
cblr-1711	285	107	aggregate	aggregate	ADJ
cblr-1711	285	108	investment	investment	NOUN
cblr-1711	285	109	limit	limit	NOUN
cblr-1711	285	110	;	;	PUNCT
cblr-1711	285	111	instead	instead	ADV
cblr-1711	285	112	,	,	PUNCT
cblr-1711	285	113	the	the	DET
cblr-1711	285	114	statute	statute	NOUN
cblr-1711	285	115	demands	demand	VERB
cblr-1711	285	116	that	that	SCONJ
cblr-1711	285	117	the	the	DET
cblr-1711	285	118	intermediary	intermediary	NOUN
cblr-1711	285	119	make	make	VERB
cblr-1711	285	120	efforts	effort	NOUN
cblr-1711	285	121	to	to	PART
cblr-1711	285	122	ensure	ensure	VERB
cblr-1711	285	123	that	that	SCONJ
cblr-1711	285	124	investors	investor	NOUN
cblr-1711	285	125	do	do	AUX
cblr-1711	285	126	not	not	PART
cblr-1711	285	127	exceed	exceed	VERB
cblr-1711	285	128	the	the	DET
cblr-1711	285	129	aggregate	aggregate	ADJ
cblr-1711	285	130	investment	investment	NOUN
cblr-1711	285	131	limit.130	limit.130	NOUN
cblr-1711	285	132	issuers	issuer	NOUN
cblr-1711	285	133	who	who	PRON
cblr-1711	285	134	have	have	AUX
cblr-1711	285	135	accepted	accept	VERB
cblr-1711	285	136	funding	funding	NOUN
cblr-1711	285	137	from	from	ADP
cblr-1711	285	138	investors	investor	NOUN
cblr-1711	285	139	who	who	PRON
cblr-1711	285	140	have	have	AUX
cblr-1711	285	141	exceeded	exceed	VERB
cblr-1711	285	142	their	their	PRON
cblr-1711	285	143	aggregate	aggregate	ADJ
cblr-1711	285	144	investment	investment	NOUN
cblr-1711	285	145	limit	limit	NOUN
cblr-1711	285	146	thus	thus	ADV
cblr-1711	285	147	do	do	AUX
cblr-1711	285	148	not	not	PART
cblr-1711	285	149	lose	lose	VERB
cblr-1711	285	150	their	their	PRON
cblr-1711	285	151	exemption	exemption	NOUN
cblr-1711	285	152	,	,	PUNCT
cblr-1711	285	153	as	as	ADV
cblr-1711	285	154	long	long	ADV
cblr-1711	285	155	as	as	ADP
cblr-1711	285	156	those	those	DET
cblr-1711	285	157	investors	investor	NOUN
cblr-1711	285	158	’	’	PART
cblr-1711	285	159	125	125	NUM
cblr-1711	285	160	see	see	NOUN
cblr-1711	285	161	infra	infra	NOUN
cblr-1711	285	162	text	text	NOUN
cblr-1711	285	163	accompanying	accompany	VERB
cblr-1711	285	164	notes	note	NOUN
cblr-1711	285	165	173–175	173–175	NUM
cblr-1711	285	166	.	.	PUNCT
cblr-1711	286	1	126	126	NUM
cblr-1711	286	2	see	see	VERB
cblr-1711	286	3	crowdfunding	crowdfunding	NOUN
cblr-1711	286	4	,	,	PUNCT
cblr-1711	286	5	80	80	NUM
cblr-1711	286	6	fed	feed	VERB
cblr-1711	286	7	.	.	PUNCT
cblr-1711	287	1	reg	reg	PROPN
cblr-1711	287	2	.	.	PUNCT
cblr-1711	288	1	at	at	ADP
cblr-1711	288	2	71,425	71,425	NUM
cblr-1711	288	3	.	.	PUNCT
cblr-1711	289	1	127	127	NUM
cblr-1711	289	2	farnkoff	farnkoff	NOUN
cblr-1711	289	3	,	,	PUNCT
cblr-1711	289	4	supra	supra	PROPN
cblr-1711	289	5	note	note	PROPN
cblr-1711	289	6	14	14	NUM
cblr-1711	289	7	,	,	PUNCT
cblr-1711	289	8	at	at	ADP
cblr-1711	289	9	163	163	NUM
cblr-1711	289	10	.	.	PUNCT
cblr-1711	289	11	128	128	NUM
cblr-1711	290	1	i	i	PROPN
cblr-1711	290	2	d.	d.	PROPN
cblr-1711	290	3	at	at	ADP
cblr-1711	290	4	165	165	NUM
cblr-1711	290	5	.	.	PUNCT
cblr-1711	290	6	129	129	NUM
cblr-1711	291	1	i	i	PRON
cblr-1711	291	2	d.	d.	PROPN
cblr-1711	291	3	at	at	ADP
cblr-1711	291	4	166	166	NUM
cblr-1711	291	5	.	.	PUNCT
cblr-1711	291	6	130	130	NUM
cblr-1711	292	1	i	i	PRON
cblr-1711	292	2	d.	d.	PROPN
cblr-1711	292	3	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	292	4	1084	1084	NUM
cblr-1711	292	5	columbia	columbia	PROPN
cblr-1711	292	6	business	business	NOUN
cblr-1711	292	7	law	law	PROPN
cblr-1711	292	8	review	review	NOUN
cblr-1711	292	9	[	[	X
cblr-1711	292	10	vol	vol	NOUN
cblr-1711	292	11	.	.	NOUN
cblr-1711	292	12	2018	2018	NUM
cblr-1711	292	13	intermediaries	intermediary	NOUN
cblr-1711	292	14	have	have	AUX
cblr-1711	292	15	taken	take	VERB
cblr-1711	292	16	steps	step	NOUN
cblr-1711	292	17	,	,	PUNCT
cblr-1711	292	18	undefined	undefined	ADJ
cblr-1711	292	19	in	in	ADP
cblr-1711	292	20	the	the	DET
cblr-1711	292	21	statute	statute	NOUN
cblr-1711	292	22	,	,	PUNCT
cblr-1711	292	23	to	to	PART
cblr-1711	292	24	prevent	prevent	VERB
cblr-1711	292	25	the	the	DET
cblr-1711	292	26	investors	investor	NOUN
cblr-1711	292	27	from	from	ADP
cblr-1711	292	28	exceeding	exceed	VERB
cblr-1711	292	29	their	their	PRON
cblr-1711	292	30	limits.131	limits.131	NOUN
cblr-1711	292	31	because	because	SCONJ
cblr-1711	292	32	intermediaries	intermediary	NOUN
cblr-1711	292	33	may	may	AUX
cblr-1711	292	34	be	be	AUX
cblr-1711	292	35	brokers	broker	NOUN
cblr-1711	292	36	or	or	CCONJ
cblr-1711	292	37	merely	merely	ADV
cblr-1711	292	38	online	online	ADJ
cblr-1711	292	39	funding	funding	NOUN
cblr-1711	292	40	portals,132	portals,132	NOUN
cblr-1711	292	41	the	the	DET
cblr-1711	292	42	current	current	ADJ
cblr-1711	292	43	measures	measure	NOUN
cblr-1711	292	44	they	they	PRON
cblr-1711	292	45	can	can	AUX
cblr-1711	292	46	use	use	VERB
cblr-1711	292	47	to	to	PART
cblr-1711	292	48	ensure	ensure	VERB
cblr-1711	292	49	an	an	DET
cblr-1711	292	50	investor	investor	NOUN
cblr-1711	292	51	’s	’s	PART
cblr-1711	292	52	compliance	compliance	NOUN
cblr-1711	292	53	with	with	ADP
cblr-1711	292	54	either	either	CCONJ
cblr-1711	292	55	the	the	DET
cblr-1711	292	56	single	single	ADJ
cblr-1711	292	57	-	-	PUNCT
cblr-1711	292	58	issuer	issuer	NOUN
cblr-1711	292	59	or	or	CCONJ
cblr-1711	292	60	aggregate	aggregate	ADJ
cblr-1711	292	61	investment	investment	NOUN
cblr-1711	292	62	limits	limit	NOUN
cblr-1711	292	63	are	be	AUX
cblr-1711	292	64	based	base	VERB
cblr-1711	292	65	on	on	ADP
cblr-1711	292	66	the	the	DET
cblr-1711	292	67	investor	investor	NOUN
cblr-1711	292	68	’s	’s	PART
cblr-1711	292	69	own	own	ADJ
cblr-1711	292	70	representations.133	representations.133	VERB
cblr-1711	292	71	where	where	SCONJ
cblr-1711	292	72	the	the	DET
cblr-1711	292	73	intermediary	intermediary	NOUN
cblr-1711	292	74	otherwise	otherwise	ADV
cblr-1711	292	75	complies	comply	VERB
cblr-1711	292	76	with	with	ADP
cblr-1711	292	77	the	the	DET
cblr-1711	292	78	statute––including	statute––including	PROPN
cblr-1711	292	79	ensuring	ensure	VERB
cblr-1711	292	80	that	that	SCONJ
cblr-1711	292	81	the	the	DET
cblr-1711	292	82	investor	investor	NOUN
cblr-1711	292	83	confirms	confirm	VERB
cblr-1711	292	84	understanding	understanding	NOUN
cblr-1711	292	85	of	of	ADP
cblr-1711	292	86	the	the	DET
cblr-1711	292	87	educational	educational	ADJ
cblr-1711	292	88	information	information	NOUN
cblr-1711	292	89	required	require	VERB
cblr-1711	292	90	by	by	ADP
cblr-1711	292	91	the	the	DET
cblr-1711	292	92	sec	sec	PROPN
cblr-1711	292	93	and	and	CCONJ
cblr-1711	292	94	answers	answer	VERB
cblr-1711	292	95	questions	question	NOUN
cblr-1711	292	96	demonstrating	demonstrate	VERB
cblr-1711	292	97	that	that	SCONJ
cblr-1711	292	98	he	he	PRON
cblr-1711	292	99	or	or	CCONJ
cblr-1711	292	100	she	she	PRON
cblr-1711	292	101	understands	understand	VERB
cblr-1711	292	102	the	the	DET
cblr-1711	292	103	level	level	NOUN
cblr-1711	292	104	of	of	ADP
cblr-1711	292	105	risk	risk	NOUN
cblr-1711	292	106	and	and	CCONJ
cblr-1711	292	107	illiquidity	illiquidity	NOUN
cblr-1711	292	108	generally	generally	ADV
cblr-1711	292	109	applicable	applicable	ADJ
cblr-1711	292	110	to	to	ADP
cblr-1711	292	111	investments	investment	NOUN
cblr-1711	292	112	in	in	ADP
cblr-1711	292	113	startups	startup	NOUN
cblr-1711	292	114	and	and	CCONJ
cblr-1711	292	115	small	small	ADJ
cblr-1711	292	116	issuers––the	issuers––the	DET
cblr-1711	292	117	intermediary	intermediary	NOUN
cblr-1711	292	118	has	have	VERB
cblr-1711	292	119	a	a	DET
cblr-1711	292	120	reasonable	reasonable	ADJ
cblr-1711	292	121	basis	basis	NOUN
cblr-1711	292	122	for	for	ADP
cblr-1711	292	123	believing	believe	VERB
cblr-1711	292	124	that	that	SCONJ
cblr-1711	292	125	the	the	DET
cblr-1711	292	126	investor	investor	NOUN
cblr-1711	292	127	satisfies	satisfy	VERB
cblr-1711	292	128	the	the	DET
cblr-1711	292	129	investor	investor	NOUN
cblr-1711	292	130	limitations.134	limitations.134	NOUN
cblr-1711	292	131	unless	unless	SCONJ
cblr-1711	292	132	the	the	DET
cblr-1711	292	133	issuer	issuer	NOUN
cblr-1711	292	134	otherwise	otherwise	ADV
cblr-1711	292	135	knows	know	VERB
cblr-1711	292	136	that	that	SCONJ
cblr-1711	292	137	the	the	DET
cblr-1711	292	138	investor	investor	NOUN
cblr-1711	292	139	is	be	AUX
cblr-1711	292	140	unqualified	unqualified	ADJ
cblr-1711	292	141	to	to	PART
cblr-1711	292	142	make	make	VERB
cblr-1711	292	143	the	the	DET
cblr-1711	292	144	investment	investment	NOUN
cblr-1711	292	145	,	,	PUNCT
cblr-1711	292	146	the	the	DET
cblr-1711	292	147	issuer	issuer	NOUN
cblr-1711	292	148	and	and	CCONJ
cblr-1711	292	149	intermediary	intermediary	NOUN
cblr-1711	292	150	are	be	AUX
cblr-1711	292	151	both	both	PRON
cblr-1711	292	152	protected	protect	VERB
cblr-1711	292	153	from	from	ADP
cblr-1711	292	154	liability	liability	NOUN
cblr-1711	292	155	,	,	PUNCT
cblr-1711	292	156	and	and	CCONJ
cblr-1711	292	157	the	the	DET
cblr-1711	292	158	issuer	issuer	NOUN
cblr-1711	292	159	can	can	AUX
cblr-1711	292	160	retain	retain	VERB
cblr-1711	292	161	its	its	PRON
cblr-1711	292	162	exemption.135	exemption.135	NOUN
cblr-1711	292	163	the	the	DET
cblr-1711	292	164	sec	sec	PROPN
cblr-1711	292	165	found	find	VERB
cblr-1711	292	166	this	this	DET
cblr-1711	292	167	self	self	NOUN
cblr-1711	292	168	-	-	PUNCT
cblr-1711	292	169	verification	verification	NOUN
cblr-1711	292	170	standard	standard	ADJ
cblr-1711	292	171	satisfactory	satisfactory	NOUN
cblr-1711	292	172	because	because	SCONJ
cblr-1711	292	173	of	of	ADP
cblr-1711	292	174	the	the	DET
cblr-1711	292	175	hardship	hardship	NOUN
cblr-1711	292	176	intermediaries	intermediary	NOUN
cblr-1711	292	177	would	would	AUX
cblr-1711	292	178	face	face	VERB
cblr-1711	292	179	by	by	ADP
cblr-1711	292	180	monitoring	monitoring	NOUN
cblr-1711	292	181	and	and	CCONJ
cblr-1711	292	182	independently	independently	ADV
cblr-1711	292	183	verifying	verify	VERB
cblr-1711	292	184	whether	whether	SCONJ
cblr-1711	292	185	investors	investor	NOUN
cblr-1711	292	186	would	would	AUX
cblr-1711	292	187	stay	stay	VERB
cblr-1711	292	188	within	within	ADP
cblr-1711	292	189	their	their	PRON
cblr-1711	292	190	investment	investment	NOUN
cblr-1711	292	191	limits.136	limits.136	VERB
cblr-1711	292	192	however	however	ADV
cblr-1711	292	193	,	,	PUNCT
cblr-1711	292	194	this	this	PRON
cblr-1711	292	195	131	131	NUM
cblr-1711	292	196	i	i	PRON
cblr-1711	292	197	d.	d.	NOUN
cblr-1711	292	198	132	132	NUM
cblr-1711	292	199	regulation	regulation	NOUN
cblr-1711	292	200	crowdfunding	crowdfunding	NOUN
cblr-1711	292	201	:	:	PUNCT
cblr-1711	292	202	a	a	DET
cblr-1711	292	203	small	small	ADJ
cblr-1711	292	204	entity	entity	NOUN
cblr-1711	292	205	compliance	compliance	NOUN
cblr-1711	292	206	guide	guide	NOUN
cblr-1711	292	207	for	for	ADP
cblr-1711	292	208	crowdfunding	crowdfunde	VERB
cblr-1711	292	209	intermediaries	intermediary	NOUN
cblr-1711	292	210	,	,	PUNCT
cblr-1711	292	211	u.s	u.s	PROPN
cblr-1711	292	212	.	.	PROPN
cblr-1711	292	213	sec	sec	PROPN
cblr-1711	292	214	.	.	PROPN
cblr-1711	292	215	&	&	CCONJ
cblr-1711	292	216	exchange	exchange	PROPN
cblr-1711	292	217	commission	commission	PROPN
cblr-1711	293	1	[	[	X
cblr-1711	293	2	hereinafter	hereinafter	NOUN
cblr-1711	293	3	regulation	regulation	NOUN
cblr-1711	293	4	crowdfunding	crowdfunde	VERB
cblr-1711	293	5	]	]	PUNCT
cblr-1711	293	6	,	,	PUNCT
cblr-1711	293	7	https://www.sec.gov/divisions/	https://www.sec.gov/divisions/	PROPN
cblr-1711	293	8	marketreg	marketreg	PROPN
cblr-1711	293	9	/	/	SYM
cblr-1711	293	10	tmcompliance	tmcompliance	NOUN
cblr-1711	293	11	/	/	SYM
cblr-1711	293	12	cfintermediaryguide.htm	cfintermediaryguide.htm	X
cblr-1711	294	1	[	[	X
cblr-1711	294	2	https://perma.cc/t6rd75qd	https://perma.cc/t6rd75qd	X
cblr-1711	294	3	]	]	X
cblr-1711	294	4	(	(	PUNCT
cblr-1711	294	5	last	last	ADJ
cblr-1711	294	6	modified	modify	VERB
cblr-1711	294	7	may	may	AUX
cblr-1711	294	8	13	13	NUM
cblr-1711	294	9	,	,	PUNCT
cblr-1711	294	10	2016	2016	NUM
cblr-1711	294	11	)	)	PUNCT
cblr-1711	294	12	.	.	PUNCT
cblr-1711	295	1	133	133	NUM
cblr-1711	295	2	farnkoff	farnkoff	NOUN
cblr-1711	295	3	,	,	PUNCT
cblr-1711	295	4	supra	supra	PROPN
cblr-1711	295	5	note	note	PROPN
cblr-1711	295	6	14	14	NUM
cblr-1711	295	7	,	,	PUNCT
cblr-1711	295	8	at	at	ADP
cblr-1711	295	9	167	167	NUM
cblr-1711	295	10	.	.	PUNCT
cblr-1711	295	11	134	134	NUM
cblr-1711	296	1	i	i	PRON
cblr-1711	296	2	d.	d.	NOUN
cblr-1711	296	3	at	at	ADP
cblr-1711	296	4	168	168	NUM
cblr-1711	296	5	;	;	PUNCT
cblr-1711	296	6	see	see	VERB
cblr-1711	296	7	also	also	ADV
cblr-1711	296	8	regulation	regulation	NOUN
cblr-1711	296	9	crowdfunding	crowdfunding	NOUN
cblr-1711	296	10	,	,	PUNCT
cblr-1711	296	11	supra	supra	PROPN
cblr-1711	296	12	note	note	PROPN
cblr-1711	296	13	132	132	NUM
cblr-1711	296	14	.	.	NOUN
cblr-1711	296	15	135	135	NUM
cblr-1711	296	16	farnkoff	farnkoff	NOUN
cblr-1711	296	17	,	,	PUNCT
cblr-1711	296	18	supra	supra	PROPN
cblr-1711	296	19	note	note	PROPN
cblr-1711	296	20	14	14	NUM
cblr-1711	296	21	,	,	PUNCT
cblr-1711	296	22	at	at	ADP
cblr-1711	296	23	168	168	NUM
cblr-1711	296	24	.	.	PUNCT
cblr-1711	297	1	the	the	DET
cblr-1711	297	2	issuer	issuer	NOUN
cblr-1711	297	3	will	will	AUX
cblr-1711	297	4	lose	lose	VERB
cblr-1711	297	5	“	"	PUNCT
cblr-1711	297	6	the	the	DET
cblr-1711	297	7	crowdfunding	crowdfunding	NOUN
cblr-1711	297	8	exemption	exemption	NOUN
cblr-1711	297	9	for	for	ADP
cblr-1711	297	10	the	the	DET
cblr-1711	297	11	entire	entire	ADJ
cblr-1711	297	12	equity	equity	NOUN
cblr-1711	297	13	or	or	CCONJ
cblr-1711	297	14	debt	debt	NOUN
cblr-1711	297	15	offering	offering	NOUN
cblr-1711	297	16	in	in	ADP
cblr-1711	297	17	the	the	DET
cblr-1711	297	18	event	event	NOUN
cblr-1711	297	19	that	that	PRON
cblr-1711	297	20	an	an	DET
cblr-1711	297	21	intermediary	intermediary	NOUN
cblr-1711	297	22	fails	fail	VERB
cblr-1711	297	23	to	to	PART
cblr-1711	297	24	adequately	adequately	ADV
cblr-1711	297	25	ensure	ensure	VERB
cblr-1711	297	26	that	that	SCONJ
cblr-1711	297	27	a	a	DET
cblr-1711	297	28	lone	lone	ADJ
cblr-1711	297	29	investor	investor	NOUN
cblr-1711	297	30	stays	stay	VERB
cblr-1711	297	31	within	within	ADP
cblr-1711	297	32	his	his	PRON
cblr-1711	297	33	aggregate	aggregate	ADJ
cblr-1711	297	34	investment	investment	NOUN
cblr-1711	297	35	limit	limit	NOUN
cblr-1711	297	36	.	.	PUNCT
cblr-1711	297	37	”	"	PUNCT
cblr-1711	298	1	i	i	PRON
cblr-1711	298	2	d.	d.	PROPN
cblr-1711	298	3	at	at	ADP
cblr-1711	298	4	176	176	NUM
cblr-1711	298	5	.	.	PUNCT
cblr-1711	299	1	the	the	DET
cblr-1711	299	2	intermediary	intermediary	NOUN
cblr-1711	299	3	is	be	AUX
cblr-1711	299	4	responsible	responsible	ADJ
cblr-1711	299	5	for	for	ADP
cblr-1711	299	6	tracking	track	VERB
cblr-1711	299	7	the	the	DET
cblr-1711	299	8	investments	investment	NOUN
cblr-1711	299	9	an	an	DET
cblr-1711	299	10	investor	investor	NOUN
cblr-1711	299	11	makes	make	VERB
cblr-1711	299	12	with	with	ADP
cblr-1711	299	13	that	that	DET
cblr-1711	299	14	same	same	ADJ
cblr-1711	299	15	intermediary	intermediary	NOUN
cblr-1711	299	16	to	to	PART
cblr-1711	299	17	ensure	ensure	VERB
cblr-1711	299	18	the	the	DET
cblr-1711	299	19	investor	investor	NOUN
cblr-1711	299	20	does	do	AUX
cblr-1711	299	21	not	not	PART
cblr-1711	299	22	exceed	exceed	VERB
cblr-1711	299	23	its	its	PRON
cblr-1711	299	24	limits	limit	NOUN
cblr-1711	299	25	,	,	PUNCT
cblr-1711	299	26	but	but	CCONJ
cblr-1711	299	27	the	the	DET
cblr-1711	299	28	intermediary	intermediary	NOUN
cblr-1711	299	29	is	be	AUX
cblr-1711	299	30	not	not	PART
cblr-1711	299	31	responsible	responsible	ADJ
cblr-1711	299	32	for	for	ADP
cblr-1711	299	33	tracking	track	VERB
cblr-1711	299	34	the	the	DET
cblr-1711	299	35	investor	investor	NOUN
cblr-1711	299	36	’s	’s	PART
cblr-1711	299	37	investments	investment	NOUN
cblr-1711	299	38	outside	outside	ADP
cblr-1711	299	39	of	of	ADP
cblr-1711	299	40	the	the	DET
cblr-1711	299	41	intermediary	intermediary	NOUN
cblr-1711	299	42	’s	’s	PART
cblr-1711	299	43	own	own	ADJ
cblr-1711	299	44	systems	system	NOUN
cblr-1711	299	45	.	.	PUNCT
cblr-1711	300	1	i	i	PRON
cblr-1711	300	2	d.	d.	PROPN
cblr-1711	300	3	136	136	NUM
cblr-1711	301	1	i	i	PRON
cblr-1711	301	2	d.	d.	PROPN
cblr-1711	301	3	at	at	ADP
cblr-1711	301	4	168	168	NUM
cblr-1711	301	5	.	.	PUNCT
cblr-1711	302	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	302	2	no	no	NOUN
cblr-1711	302	3	.	.	NOUN
cblr-1711	303	1	3:1060	3:1060	NUM
cblr-1711	303	2	]	]	X
cblr-1711	303	3	biotech	biotech	ADJ
cblr-1711	303	4	crowdfunding	crowdfunde	VERB
cblr-1711	303	5	1085	1085	NUM
cblr-1711	303	6	hands	hand	NOUN
cblr-1711	303	7	-	-	PUNCT
cblr-1711	303	8	off	off	ADP
cblr-1711	303	9	approach	approach	NOUN
cblr-1711	303	10	to	to	ADP
cblr-1711	303	11	compliance	compliance	NOUN
cblr-1711	303	12	shifts	shift	NOUN
cblr-1711	303	13	risk	risk	VERB
cblr-1711	303	14	away	away	ADV
cblr-1711	303	15	from	from	ADP
cblr-1711	303	16	intermediaries	intermediary	NOUN
cblr-1711	303	17	and	and	CCONJ
cblr-1711	303	18	issuers	issuer	NOUN
cblr-1711	303	19	,	,	PUNCT
cblr-1711	303	20	and	and	CCONJ
cblr-1711	303	21	it	it	PRON
cblr-1711	303	22	relies	rely	VERB
cblr-1711	303	23	on	on	ADP
cblr-1711	303	24	unaccredited	unaccredited	ADJ
cblr-1711	303	25	and	and	CCONJ
cblr-1711	303	26	unsophisticated	unsophisticated	ADJ
cblr-1711	303	27	investors	investor	NOUN
cblr-1711	303	28	to	to	PART
cblr-1711	303	29	protect	protect	VERB
cblr-1711	303	30	their	their	PRON
cblr-1711	303	31	own	own	ADJ
cblr-1711	303	32	interests.137	interests.137	NOUN
cblr-1711	303	33	optimistic	optimistic	ADJ
cblr-1711	303	34	crowdfunding	crowdfunding	NOUN
cblr-1711	303	35	investors	investor	NOUN
cblr-1711	303	36	may	may	AUX
cblr-1711	303	37	attempt	attempt	VERB
cblr-1711	303	38	to	to	PART
cblr-1711	303	39	maximize	maximize	VERB
cblr-1711	303	40	their	their	PRON
cblr-1711	303	41	investment	investment	NOUN
cblr-1711	303	42	and	and	CCONJ
cblr-1711	303	43	thus	thus	ADV
cblr-1711	303	44	their	their	PRON
cblr-1711	303	45	hopeful	hopeful	ADJ
cblr-1711	303	46	return	return	NOUN
cblr-1711	303	47	by	by	ADP
cblr-1711	303	48	misrepresenting	misrepresent	VERB
cblr-1711	303	49	their	their	PRON
cblr-1711	303	50	net	net	ADJ
cblr-1711	303	51	worth	worth	NOUN
cblr-1711	303	52	,	,	PUNCT
cblr-1711	303	53	annual	annual	ADJ
cblr-1711	303	54	income	income	NOUN
cblr-1711	303	55	,	,	PUNCT
cblr-1711	303	56	or	or	CCONJ
cblr-1711	303	57	aggregate	aggregate	VERB
cblr-1711	303	58	crowdfunding	crowdfunding	NOUN
cblr-1711	303	59	investment	investment	NOUN
cblr-1711	303	60	levels.138	levels.138	PROPN
cblr-1711	303	61	while	while	SCONJ
cblr-1711	303	62	the	the	DET
cblr-1711	303	63	jobs	job	NOUN
cblr-1711	303	64	act	act	VERB
cblr-1711	303	65	legislators	legislator	NOUN
cblr-1711	303	66	may	may	AUX
cblr-1711	303	67	have	have	AUX
cblr-1711	303	68	intended	intend	VERB
cblr-1711	303	69	to	to	PART
cblr-1711	303	70	tap	tap	VERB
cblr-1711	303	71	into	into	ADP
cblr-1711	303	72	this	this	DET
cblr-1711	303	73	optimism	optimism	NOUN
cblr-1711	303	74	to	to	PART
cblr-1711	303	75	help	help	VERB
cblr-1711	303	76	solve	solve	VERB
cblr-1711	303	77	financing	financing	NOUN
cblr-1711	303	78	problems	problem	NOUN
cblr-1711	303	79	for	for	ADP
cblr-1711	303	80	startups	startup	NOUN
cblr-1711	303	81	,	,	PUNCT
cblr-1711	303	82	they	they	PRON
cblr-1711	303	83	left	leave	VERB
cblr-1711	303	84	the	the	DET
cblr-1711	303	85	door	door	NOUN
cblr-1711	303	86	open	open	ADJ
cblr-1711	303	87	to	to	ADP
cblr-1711	303	88	overinvestment	overinvestment	NOUN
cblr-1711	303	89	and	and	CCONJ
cblr-1711	303	90	to	to	ADP
cblr-1711	303	91	the	the	DET
cblr-1711	303	92	subsequent	subsequent	ADJ
cblr-1711	303	93	risk	risk	NOUN
cblr-1711	303	94	of	of	ADP
cblr-1711	303	95	overexposure	overexposure	NOUN
cblr-1711	303	96	to	to	ADP
cblr-1711	303	97	bad	bad	ADJ
cblr-1711	303	98	actors	actor	NOUN
cblr-1711	303	99	.	.	PUNCT
cblr-1711	304	1	as	as	SCONJ
cblr-1711	304	2	the	the	DET
cblr-1711	304	3	statute	statute	NOUN
cblr-1711	304	4	stands	stand	VERB
cblr-1711	304	5	now	now	ADV
cblr-1711	304	6	,	,	PUNCT
cblr-1711	304	7	if	if	SCONJ
cblr-1711	304	8	the	the	DET
cblr-1711	304	9	intermediary	intermediary	NOUN
cblr-1711	304	10	finds	find	VERB
cblr-1711	304	11	that	that	SCONJ
cblr-1711	304	12	an	an	DET
cblr-1711	304	13	investor	investor	NOUN
cblr-1711	304	14	has	have	AUX
cblr-1711	304	15	reached	reach	VERB
cblr-1711	304	16	his	his	PRON
cblr-1711	304	17	or	or	CCONJ
cblr-1711	304	18	her	her	PRON
cblr-1711	304	19	aggregate	aggregate	ADJ
cblr-1711	304	20	investment	investment	NOUN
cblr-1711	304	21	cap	cap	NOUN
cblr-1711	304	22	and	and	CCONJ
cblr-1711	304	23	prevents	prevent	VERB
cblr-1711	304	24	the	the	DET
cblr-1711	304	25	investor	investor	NOUN
cblr-1711	304	26	from	from	ADP
cblr-1711	304	27	further	further	ADJ
cblr-1711	304	28	investing	investing	NOUN
cblr-1711	304	29	,	,	PUNCT
cblr-1711	304	30	the	the	DET
cblr-1711	304	31	investor	investor	NOUN
cblr-1711	304	32	could	could	AUX
cblr-1711	304	33	theoretically	theoretically	ADV
cblr-1711	304	34	open	open	VERB
cblr-1711	304	35	an	an	DET
cblr-1711	304	36	account	account	NOUN
cblr-1711	304	37	at	at	ADP
cblr-1711	304	38	another	another	DET
cblr-1711	304	39	intermediary	intermediary	NOUN
cblr-1711	304	40	and	and	CCONJ
cblr-1711	304	41	invest	invest	VERB
cblr-1711	304	42	his	his	PRON
cblr-1711	304	43	or	or	CCONJ
cblr-1711	304	44	her	her	PRON
cblr-1711	304	45	entire	entire	ADJ
cblr-1711	304	46	cap	cap	NOUN
cblr-1711	304	47	amount	amount	NOUN
cblr-1711	304	48	there	there	ADV
cblr-1711	304	49	.	.	PUNCT
cblr-1711	305	1	there	there	PRON
cblr-1711	305	2	are	be	VERB
cblr-1711	305	3	plenty	plenty	NOUN
cblr-1711	305	4	of	of	ADP
cblr-1711	305	5	intermediaries	intermediary	NOUN
cblr-1711	305	6	an	an	DET
cblr-1711	305	7	investor	investor	NOUN
cblr-1711	305	8	can	can	AUX
cblr-1711	305	9	choose	choose	VERB
cblr-1711	305	10	from	from	ADP
cblr-1711	305	11	—	—	PUNCT
cblr-1711	305	12	as	as	ADP
cblr-1711	305	13	of	of	ADP
cblr-1711	305	14	november	november	PROPN
cblr-1711	305	15	1	1	NUM
cblr-1711	305	16	,	,	PUNCT
cblr-1711	305	17	2018	2018	NUM
cblr-1711	305	18	,	,	PUNCT
cblr-1711	305	19	there	there	PRON
cblr-1711	305	20	were	be	VERB
cblr-1711	305	21	forty	forty	NUM
cblr-1711	305	22	-	-	PUNCT
cblr-1711	305	23	seven	seven	NUM
cblr-1711	305	24	funding	funding	NOUN
cblr-1711	305	25	portals	portal	NOUN
cblr-1711	305	26	and	and	CCONJ
cblr-1711	305	27	hundreds	hundred	NOUN
cblr-1711	305	28	of	of	ADP
cblr-1711	305	29	broker	broker	NOUN
cblr-1711	305	30	-	-	PUNCT
cblr-1711	305	31	dealers	dealer	NOUN
cblr-1711	305	32	who	who	PRON
cblr-1711	305	33	are	be	AUX
cblr-1711	305	34	members	member	NOUN
cblr-1711	305	35	of	of	ADP
cblr-1711	305	36	the	the	DET
cblr-1711	305	37	financial	financial	ADJ
cblr-1711	305	38	industry	industry	NOUN
cblr-1711	305	39	regulatory	regulatory	ADJ
cblr-1711	305	40	authority	authority	NOUN
cblr-1711	305	41	,	,	PUNCT
cblr-1711	305	42	registered	register	VERB
cblr-1711	305	43	with	with	ADP
cblr-1711	305	44	the	the	DET
cblr-1711	305	45	sec	sec	PROPN
cblr-1711	305	46	,	,	PUNCT
cblr-1711	305	47	and	and	CCONJ
cblr-1711	305	48	allowed	allow	VERB
cblr-1711	305	49	to	to	PART
cblr-1711	305	50	engage	engage	VERB
cblr-1711	305	51	in	in	ADP
cblr-1711	305	52	crowdfunding	crowdfunding	NOUN
cblr-1711	305	53	as	as	SCONJ
cblr-1711	305	54	intermediaries.139	intermediaries.139	DET
cblr-1711	305	55	the	the	DET
cblr-1711	305	56	second	second	ADJ
cblr-1711	305	57	intermediary	intermediary	NOUN
cblr-1711	305	58	would	would	AUX
cblr-1711	305	59	be	be	AUX
cblr-1711	305	60	bound	bind	VERB
cblr-1711	305	61	by	by	ADP
cblr-1711	305	62	the	the	DET
cblr-1711	305	63	same	same	ADJ
cblr-1711	305	64	diligence	diligence	NOUN
cblr-1711	305	65	requirements	requirement	NOUN
cblr-1711	305	66	,	,	PUNCT
cblr-1711	305	67	but	but	CCONJ
cblr-1711	305	68	as	as	SCONJ
cblr-1711	305	69	noted	note	VERB
cblr-1711	305	70	above	above	ADV
cblr-1711	305	71	,	,	PUNCT
cblr-1711	305	72	the	the	DET
cblr-1711	305	73	investigation	investigation	NOUN
cblr-1711	305	74	standard	standard	NOUN
cblr-1711	305	75	is	be	AUX
cblr-1711	305	76	not	not	PART
cblr-1711	305	77	high	high	ADJ
cblr-1711	305	78	as	as	ADV
cblr-1711	305	79	long	long	ADV
cblr-1711	305	80	as	as	SCONJ
cblr-1711	305	81	the	the	DET
cblr-1711	305	82	intermediary	intermediary	NOUN
cblr-1711	305	83	has	have	VERB
cblr-1711	305	84	a	a	DET
cblr-1711	305	85	reasonable	reasonable	ADJ
cblr-1711	305	86	basis	basis	NOUN
cblr-1711	305	87	to	to	PART
cblr-1711	305	88	believe	believe	VERB
cblr-1711	305	89	the	the	DET
cblr-1711	305	90	investor	investor	NOUN
cblr-1711	305	91	is	be	AUX
cblr-1711	305	92	being	be	AUX
cblr-1711	305	93	truthful	truthful	ADJ
cblr-1711	305	94	.	.	PUNCT
cblr-1711	306	1	to	to	PART
cblr-1711	306	2	address	address	VERB
cblr-1711	306	3	this	this	DET
cblr-1711	306	4	issue	issue	NOUN
cblr-1711	306	5	,	,	PUNCT
cblr-1711	306	6	the	the	DET
cblr-1711	306	7	sec	sec	PROPN
cblr-1711	306	8	could	could	AUX
cblr-1711	306	9	create	create	VERB
cblr-1711	306	10	and	and	CCONJ
cblr-1711	306	11	operate	operate	VERB
cblr-1711	306	12	a	a	DET
cblr-1711	306	13	system	system	NOUN
cblr-1711	306	14	containing	contain	VERB
cblr-1711	306	15	verifiable	verifiable	ADJ
cblr-1711	306	16	proof	proof	NOUN
cblr-1711	306	17	of	of	ADP
cblr-1711	306	18	investor	investor	NOUN
cblr-1711	306	19	income	income	NOUN
cblr-1711	306	20	,	,	PUNCT
cblr-1711	306	21	net	net	ADJ
cblr-1711	306	22	worth	worth	NOUN
cblr-1711	306	23	,	,	PUNCT
cblr-1711	306	24	and	and	CCONJ
cblr-1711	306	25	investments	investment	NOUN
cblr-1711	306	26	with	with	ADP
cblr-1711	306	27	crowdfunding	crowdfunde	VERB
cblr-1711	306	28	intermediaries.140	intermediaries.140	NOUN
cblr-1711	306	29	in	in	ADP
cblr-1711	306	30	the	the	DET
cblr-1711	306	31	payday	payday	NOUN
cblr-1711	306	32	lending	lending	NOUN
cblr-1711	306	33	area	area	NOUN
cblr-1711	306	34	,	,	PUNCT
cblr-1711	306	35	for	for	ADP
cblr-1711	306	36	example	example	NOUN
cblr-1711	306	37	,	,	PUNCT
cblr-1711	306	38	some	some	DET
cblr-1711	306	39	states	state	NOUN
cblr-1711	306	40	require	require	VERB
cblr-1711	306	41	lenders	lender	NOUN
cblr-1711	306	42	to	to	PART
cblr-1711	306	43	check	check	VERB
cblr-1711	306	44	a	a	DET
cblr-1711	306	45	centralized	centralize	VERB
cblr-1711	306	46	database	database	NOUN
cblr-1711	306	47	,	,	PUNCT
cblr-1711	306	48	containing	contain	VERB
cblr-1711	306	49	records	record	NOUN
cblr-1711	306	50	of	of	ADP
cblr-1711	306	51	all	all	DET
cblr-1711	306	52	lending	lending	NOUN
cblr-1711	306	53	,	,	PUNCT
cblr-1711	306	54	in	in	ADP
cblr-1711	306	55	order	order	NOUN
cblr-1711	306	56	to	to	PART
cblr-1711	306	57	keep	keep	VERB
cblr-1711	306	58	people	people	NOUN
cblr-1711	306	59	from	from	ADP
cblr-1711	306	60	exceeding	exceed	VERB
cblr-1711	306	61	aggregate	aggregate	ADJ
cblr-1711	306	62	137	137	NUM
cblr-1711	306	63	see	see	NOUN
cblr-1711	306	64	i	i	PRON
cblr-1711	306	65	d.	d.	PROPN
cblr-1711	306	66	at	at	ADP
cblr-1711	306	67	171	171	NUM
cblr-1711	306	68	.	.	PUNCT
cblr-1711	307	1	138	138	NUM
cblr-1711	308	1	i	i	PRON
cblr-1711	308	2	d.	d.	PROPN
cblr-1711	308	3	at	at	ADP
cblr-1711	308	4	175	175	NUM
cblr-1711	308	5	.	.	PUNCT
cblr-1711	309	1	139	139	NUM
cblr-1711	309	2	funding	funding	NOUN
cblr-1711	309	3	portals	portal	NOUN
cblr-1711	309	4	we	we	PRON
cblr-1711	309	5	regulate	regulate	VERB
cblr-1711	309	6	,	,	PUNCT
cblr-1711	309	7	fin	fin	NOUN
cblr-1711	309	8	.	.	PUNCT
cblr-1711	309	9	indus	indus	PROPN
cblr-1711	309	10	.	.	PUNCT
cblr-1711	310	1	reg	reg	PROPN
cblr-1711	310	2	.	.	PUNCT
cblr-1711	311	1	auth	auth	PROPN
cblr-1711	311	2	.	.	PUNCT
cblr-1711	312	1	(	(	PUNCT
cblr-1711	312	2	nov	nov	PROPN
cblr-1711	312	3	.	.	PROPN
cblr-1711	312	4	1	1	NUM
cblr-1711	312	5	,	,	PUNCT
cblr-1711	312	6	2018	2018	NUM
cblr-1711	312	7	)	)	PUNCT
cblr-1711	312	8	,	,	PUNCT
cblr-1711	312	9	https://www.finra.org/about/funding-portals-we-regulate	https://www.finra.org/about/funding-portals-we-regulate	PROPN
cblr-1711	312	10	[	[	X
cblr-1711	312	11	https://perma.cc/l9gr-fv6d	https://perma.cc/l9gr-fv6d	X
cblr-1711	312	12	]	]	NOUN
cblr-1711	312	13	.	.	PUNCT
cblr-1711	313	1	140	140	NUM
cblr-1711	313	2	farnkoff	farnkoff	NOUN
cblr-1711	313	3	,	,	PUNCT
cblr-1711	313	4	supra	supra	PROPN
cblr-1711	313	5	note	note	PROPN
cblr-1711	313	6	14	14	NUM
cblr-1711	313	7	,	,	PUNCT
cblr-1711	313	8	at	at	ADP
cblr-1711	313	9	177–78	177–78	NUM
cblr-1711	313	10	.	.	PUNCT
cblr-1711	313	11	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	313	12	1086	1086	NUM
cblr-1711	313	13	columbia	columbia	PROPN
cblr-1711	313	14	business	business	NOUN
cblr-1711	313	15	law	law	PROPN
cblr-1711	313	16	review	review	NOUN
cblr-1711	313	17	[	[	X
cblr-1711	313	18	vol	vol	NOUN
cblr-1711	313	19	.	.	NOUN
cblr-1711	313	20	2018	2018	NUM
cblr-1711	313	21	borrowing	borrowing	NOUN
cblr-1711	313	22	limits	limit	NOUN
cblr-1711	313	23	by	by	ADP
cblr-1711	313	24	shifting	shift	VERB
cblr-1711	313	25	lenders.141	lenders.141	NOUN
cblr-1711	313	26	creating	create	VERB
cblr-1711	313	27	a	a	DET
cblr-1711	313	28	similar	similar	ADJ
cblr-1711	313	29	crowdfunding	crowdfunding	NOUN
cblr-1711	313	30	database	database	NOUN
cblr-1711	313	31	could	could	AUX
cblr-1711	313	32	be	be	AUX
cblr-1711	313	33	cost	cost	NOUN
cblr-1711	313	34	-	-	PUNCT
cblr-1711	313	35	prohibitive	prohibitive	ADJ
cblr-1711	313	36	,	,	PUNCT
cblr-1711	313	37	though	though	ADV
cblr-1711	313	38	,	,	PUNCT
cblr-1711	313	39	and	and	CCONJ
cblr-1711	313	40	may	may	AUX
cblr-1711	313	41	raise	raise	VERB
cblr-1711	313	42	privacy	privacy	NOUN
cblr-1711	313	43	concerns	concern	NOUN
cblr-1711	313	44	that	that	PRON
cblr-1711	313	45	may	may	AUX
cblr-1711	313	46	trouble	trouble	VERB
cblr-1711	313	47	investors	investor	NOUN
cblr-1711	313	48	.	.	PUNCT
cblr-1711	314	1	the	the	DET
cblr-1711	314	2	sec	sec	PROPN
cblr-1711	314	3	has	have	AUX
cblr-1711	314	4	explored	explore	VERB
cblr-1711	314	5	,	,	PUNCT
cblr-1711	314	6	but	but	CCONJ
cblr-1711	314	7	thus	thus	ADV
cblr-1711	314	8	far	far	ADV
cblr-1711	314	9	rejected	reject	VERB
cblr-1711	314	10	,	,	PUNCT
cblr-1711	314	11	the	the	DET
cblr-1711	314	12	idea.142	idea.142	NOUN
cblr-1711	314	13	while	while	SCONJ
cblr-1711	314	14	a	a	DET
cblr-1711	314	15	centralized	centralized	ADJ
cblr-1711	314	16	system	system	NOUN
cblr-1711	314	17	operated	operate	VERB
cblr-1711	314	18	by	by	ADP
cblr-1711	314	19	the	the	DET
cblr-1711	314	20	government	government	NOUN
cblr-1711	314	21	could	could	AUX
cblr-1711	314	22	be	be	AUX
cblr-1711	314	23	expensive	expensive	ADJ
cblr-1711	314	24	,	,	PUNCT
cblr-1711	314	25	with	with	ADP
cblr-1711	314	26	costs	cost	NOUN
cblr-1711	314	27	borne	bear	VERB
cblr-1711	314	28	by	by	ADP
cblr-1711	314	29	taxpayers	taxpayer	NOUN
cblr-1711	314	30	and	and	CCONJ
cblr-1711	314	31	investors	investor	NOUN
cblr-1711	314	32	alike	alike	ADV
cblr-1711	314	33	,	,	PUNCT
cblr-1711	314	34	the	the	DET
cblr-1711	314	35	creation	creation	NOUN
cblr-1711	314	36	of	of	ADP
cblr-1711	314	37	third	third	ADJ
cblr-1711	314	38	-	-	PUNCT
cblr-1711	314	39	party	party	NOUN
cblr-1711	314	40	verification	verification	NOUN
cblr-1711	314	41	systems	system	NOUN
cblr-1711	314	42	in	in	ADP
cblr-1711	314	43	the	the	DET
cblr-1711	314	44	private	private	ADJ
cblr-1711	314	45	sector	sector	NOUN
cblr-1711	314	46	could	could	AUX
cblr-1711	314	47	potentially	potentially	ADV
cblr-1711	314	48	reduce	reduce	VERB
cblr-1711	314	49	costs	cost	NOUN
cblr-1711	314	50	,	,	PUNCT
cblr-1711	314	51	both	both	PRON
cblr-1711	314	52	to	to	ADP
cblr-1711	314	53	the	the	DET
cblr-1711	314	54	public	public	ADJ
cblr-1711	314	55	and	and	CCONJ
cblr-1711	314	56	overall.143	overall.143	NOUN
cblr-1711	314	57	private	private	ADJ
cblr-1711	314	58	third	third	ADJ
cblr-1711	314	59	parties	party	NOUN
cblr-1711	314	60	could	could	AUX
cblr-1711	314	61	compete	compete	VERB
cblr-1711	314	62	for	for	ADP
cblr-1711	314	63	the	the	DET
cblr-1711	314	64	business	business	NOUN
cblr-1711	314	65	of	of	ADP
cblr-1711	314	66	intermediaries	intermediary	NOUN
cblr-1711	314	67	,	,	PUNCT
cblr-1711	314	68	but	but	CCONJ
cblr-1711	314	69	the	the	DET
cblr-1711	314	70	competitors	competitor	NOUN
cblr-1711	314	71	would	would	AUX
cblr-1711	314	72	still	still	ADV
cblr-1711	314	73	need	need	VERB
cblr-1711	314	74	to	to	PART
cblr-1711	314	75	share	share	VERB
cblr-1711	314	76	specific	specific	ADJ
cblr-1711	314	77	investment	investment	NOUN
cblr-1711	314	78	information	information	NOUN
cblr-1711	314	79	,	,	PUNCT
cblr-1711	314	80	such	such	ADJ
cblr-1711	314	81	as	as	ADP
cblr-1711	314	82	which	which	PRON
cblr-1711	314	83	investors	investor	NOUN
cblr-1711	314	84	are	be	AUX
cblr-1711	314	85	working	work	VERB
cblr-1711	314	86	with	with	ADP
cblr-1711	314	87	which	which	PRON
cblr-1711	314	88	intermediaries	intermediary	NOUN
cblr-1711	314	89	and	and	CCONJ
cblr-1711	314	90	how	how	SCONJ
cblr-1711	314	91	much	much	ADJ
cblr-1711	314	92	each	each	DET
cblr-1711	314	93	person	person	NOUN
cblr-1711	314	94	is	be	AUX
cblr-1711	314	95	investing.144	investing.144	ADJ
cblr-1711	314	96	if	if	SCONJ
cblr-1711	314	97	the	the	DET
cblr-1711	314	98	third	third	ADJ
cblr-1711	314	99	parties	party	NOUN
cblr-1711	314	100	were	be	AUX
cblr-1711	314	101	to	to	PART
cblr-1711	314	102	request	request	VERB
cblr-1711	314	103	self	self	NOUN
cblr-1711	314	104	-	-	PUNCT
cblr-1711	314	105	verification	verification	NOUN
cblr-1711	314	106	information	information	NOUN
cblr-1711	314	107	from	from	ADP
cblr-1711	314	108	the	the	DET
cblr-1711	314	109	investors	investor	NOUN
cblr-1711	314	110	(	(	PUNCT
cblr-1711	314	111	as	as	SCONJ
cblr-1711	314	112	intermediaries	intermediary	NOUN
cblr-1711	314	113	do	do	VERB
cblr-1711	314	114	now	now	ADV
cblr-1711	314	115	)	)	PUNCT
cblr-1711	314	116	,	,	PUNCT
cblr-1711	314	117	the	the	DET
cblr-1711	314	118	same	same	ADJ
cblr-1711	314	119	problems	problem	NOUN
cblr-1711	314	120	facing	face	VERB
cblr-1711	314	121	intermediaries	intermediary	NOUN
cblr-1711	314	122	would	would	AUX
cblr-1711	314	123	be	be	AUX
cblr-1711	314	124	transferred	transfer	VERB
cblr-1711	314	125	to	to	ADP
cblr-1711	314	126	the	the	DET
cblr-1711	314	127	third	third	ADJ
cblr-1711	314	128	parties	party	NOUN
cblr-1711	314	129	.	.	PUNCT
cblr-1711	315	1	furthermore	furthermore	ADV
cblr-1711	315	2	,	,	PUNCT
cblr-1711	315	3	in	in	ADP
cblr-1711	315	4	informationally	informationally	ADV
cblr-1711	315	5	asymmetric	asymmetric	ADJ
cblr-1711	315	6	markets	market	NOUN
cblr-1711	315	7	,	,	PUNCT
cblr-1711	315	8	a	a	DET
cblr-1711	315	9	monopoly	monopoly	NOUN
cblr-1711	315	10	is	be	AUX
cblr-1711	315	11	likely	likely	ADJ
cblr-1711	315	12	to	to	PART
cblr-1711	315	13	arise	arise	VERB
cblr-1711	315	14	,	,	PUNCT
cblr-1711	315	15	thus	thus	ADV
cblr-1711	315	16	not	not	PART
cblr-1711	315	17	actually	actually	ADV
cblr-1711	315	18	reducing	reduce	VERB
cblr-1711	315	19	the	the	DET
cblr-1711	315	20	costs	cost	NOUN
cblr-1711	315	21	associated	associate	VERB
cblr-1711	315	22	with	with	ADP
cblr-1711	315	23	a	a	DET
cblr-1711	315	24	federally	federally	ADV
cblr-1711	315	25	controlled	control	VERB
cblr-1711	315	26	system.145	system.145	NOUN
cblr-1711	315	27	though	though	SCONJ
cblr-1711	315	28	crowdfunding	crowdfunding	NOUN
cblr-1711	315	29	may	may	AUX
cblr-1711	315	30	not	not	PART
cblr-1711	315	31	currently	currently	ADV
cblr-1711	315	32	be	be	AUX
cblr-1711	315	33	able	able	ADJ
cblr-1711	315	34	to	to	PART
cblr-1711	315	35	take	take	VERB
cblr-1711	315	36	advantage	advantage	NOUN
cblr-1711	315	37	of	of	ADP
cblr-1711	315	38	these	these	DET
cblr-1711	315	39	other	other	ADJ
cblr-1711	315	40	corporate	corporate	ADJ
cblr-1711	315	41	law	law	NOUN
cblr-1711	315	42	-	-	PUNCT
cblr-1711	315	43	based	base	VERB
cblr-1711	315	44	solutions	solution	NOUN
cblr-1711	315	45	for	for	ADP
cblr-1711	315	46	investor	investor	NOUN
cblr-1711	315	47	protection	protection	NOUN
cblr-1711	315	48	,	,	PUNCT
cblr-1711	315	49	biotech	biotech	NOUN
cblr-1711	315	50	crowdfunding	crowdfunding	NOUN
cblr-1711	315	51	can	can	AUX
cblr-1711	315	52	tap	tap	VERB
cblr-1711	315	53	into	into	ADP
cblr-1711	315	54	additional	additional	ADJ
cblr-1711	315	55	sources	source	NOUN
cblr-1711	315	56	of	of	ADP
cblr-1711	315	57	legal	legal	ADJ
cblr-1711	315	58	protection	protection	NOUN
cblr-1711	315	59	.	.	PUNCT
cblr-1711	316	1	fda	fda	PROPN
cblr-1711	316	2	approval	approval	NOUN
cblr-1711	316	3	requirements	requirement	NOUN
cblr-1711	316	4	and	and	CCONJ
cblr-1711	316	5	patent	patent	NOUN
cblr-1711	316	6	law	law	NOUN
cblr-1711	316	7	greatly	greatly	ADV
cblr-1711	316	8	influence	influence	VERB
cblr-1711	316	9	and	and	CCONJ
cblr-1711	316	10	attempt	attempt	VERB
cblr-1711	316	11	to	to	PART
cblr-1711	316	12	guard	guard	VERB
cblr-1711	316	13	interests	interest	NOUN
cblr-1711	316	14	of	of	ADP
cblr-1711	316	15	both	both	DET
cblr-1711	316	16	biotech	biotech	ADJ
cblr-1711	316	17	consumers	consumer	NOUN
cblr-1711	316	18	and	and	CCONJ
cblr-1711	316	19	companies	company	NOUN
cblr-1711	316	20	.	.	PUNCT
cblr-1711	317	1	by	by	ADP
cblr-1711	317	2	141	141	NUM
cblr-1711	317	3	see	see	NOUN
cblr-1711	317	4	,	,	PUNCT
cblr-1711	317	5	e.g.	e.g.	ADV
cblr-1711	317	6	,	,	PUNCT
cblr-1711	317	7	kim	kim	PROPN
cblr-1711	317	8	chandler	chandler	PROPN
cblr-1711	317	9	,	,	PUNCT
cblr-1711	317	10	supreme	supreme	PROPN
cblr-1711	317	11	court	court	PROPN
cblr-1711	317	12	upholds	uphold	VERB
cblr-1711	317	13	payday	payday	NOUN
cblr-1711	317	14	loan	loan	NOUN
cblr-1711	317	15	database	database	NOUN
cblr-1711	317	16	,	,	PUNCT
cblr-1711	317	17	wash	wash	NOUN
cblr-1711	317	18	.	.	PUNCT
cblr-1711	318	1	times	times	PROPN
cblr-1711	318	2	(	(	PUNCT
cblr-1711	318	3	apr	apr	PROPN
cblr-1711	318	4	.	.	PROPN
cblr-1711	318	5	27	27	NUM
cblr-1711	318	6	,	,	PUNCT
cblr-1711	318	7	2015	2015	NUM
cblr-1711	318	8	)	)	PUNCT
cblr-1711	318	9	,	,	PUNCT
cblr-1711	319	1	https://www.washingtontimes.com/news/2015/apr/27/supreme-courtupholds-payday-loan-database/	https://www.washingtontimes.com/news/2015/apr/27/supreme-courtupholds-payday-loan-database/	NOUN
cblr-1711	319	2	[	[	X
cblr-1711	319	3	https://perma.cc/lmb4-y4qu	https://perma.cc/lmb4-y4qu	X
cblr-1711	319	4	]	]	X
cblr-1711	319	5	;	;	PUNCT
cblr-1711	319	6	riley	riley	PROPN
cblr-1711	319	7	snyder	snyder	PROPN
cblr-1711	319	8	,	,	PUNCT
cblr-1711	319	9	audit	audit	NOUN
cblr-1711	319	10	finds	find	VERB
cblr-1711	319	11	nearly	nearly	ADV
cblr-1711	319	12	a	a	DET
cblr-1711	319	13	third	third	NOUN
cblr-1711	319	14	of	of	ADP
cblr-1711	319	15	nevada	nevada	PROPN
cblr-1711	319	16	payday	payday	PROPN
cblr-1711	319	17	lenders	lender	NOUN
cblr-1711	319	18	violated	violate	VERB
cblr-1711	319	19	rules	rule	NOUN
cblr-1711	319	20	over	over	ADP
cblr-1711	319	21	last	last	ADJ
cblr-1711	319	22	five	five	NUM
cblr-1711	319	23	years	year	NOUN
cblr-1711	319	24	,	,	PUNCT
cblr-1711	319	25	sparks	spark	VERB
cblr-1711	319	26	trib	trib	NOUN
cblr-1711	319	27	.	.	PUNCT
cblr-1711	320	1	(	(	PUNCT
cblr-1711	320	2	may	may	AUX
cblr-1711	320	3	9	9	NUM
cblr-1711	320	4	,	,	PUNCT
cblr-1711	320	5	2018	2018	NUM
cblr-1711	320	6	)	)	PUNCT
cblr-1711	320	7	,	,	PUNCT
cblr-1711	320	8	https://sparkstrib.com/2018/05/09/audit-finds-nearly-a-third-of-nevadapayday-lenders-violated-rules-over-last-five-years/	https://sparkstrib.com/2018/05/09/audit-finds-nearly-a-third-of-nevadapayday-lenders-violated-rules-over-last-five-years/	ADJ
cblr-1711	320	9	[	[	X
cblr-1711	320	10	https://perma.cc/uwf5-ujd4	https://perma.cc/uwf5-ujd4	X
cblr-1711	320	11	]	]	X
cblr-1711	320	12	.	.	PUNCT
cblr-1711	321	1	142	142	NUM
cblr-1711	321	2	farnkoff	farnkoff	NOUN
cblr-1711	321	3	,	,	PUNCT
cblr-1711	321	4	supra	supra	PROPN
cblr-1711	321	5	note	note	PROPN
cblr-1711	321	6	14	14	NUM
cblr-1711	321	7	,	,	PUNCT
cblr-1711	321	8	at	at	ADP
cblr-1711	321	9	179	179	NUM
cblr-1711	321	10	.	.	PUNCT
cblr-1711	322	1	143	143	NUM
cblr-1711	323	1	i	i	PRON
cblr-1711	323	2	d.	d.	PROPN
cblr-1711	323	3	at	at	ADP
cblr-1711	323	4	180	180	NUM
cblr-1711	323	5	.	.	PUNCT
cblr-1711	324	1	144	144	NUM
cblr-1711	325	1	i	i	PROPN
cblr-1711	325	2	d.	d.	PROPN
cblr-1711	325	3	145	145	NUM
cblr-1711	325	4	see	see	VERB
cblr-1711	325	5	i	i	PROPN
cblr-1711	325	6	d.	d.	PROPN
cblr-1711	325	7	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	325	8	no	no	NOUN
cblr-1711	325	9	.	.	PUNCT
cblr-1711	325	10	3:1060	3:1060	NUM
cblr-1711	325	11	]	]	X
cblr-1711	325	12	biotech	biotech	ADJ
cblr-1711	325	13	crowdfunding	crowdfunding	NOUN
cblr-1711	325	14	1087	1087	NUM
cblr-1711	325	15	including	include	VERB
cblr-1711	325	16	disclosure	disclosure	NOUN
cblr-1711	325	17	relating	relate	VERB
cblr-1711	325	18	to	to	ADP
cblr-1711	325	19	these	these	DET
cblr-1711	325	20	two	two	NUM
cblr-1711	325	21	areas	area	NOUN
cblr-1711	325	22	within	within	ADP
cblr-1711	325	23	the	the	DET
cblr-1711	325	24	current	current	ADJ
cblr-1711	325	25	disclosure	disclosure	NOUN
cblr-1711	325	26	requirements	requirement	NOUN
cblr-1711	325	27	under	under	ADP
cblr-1711	325	28	title	title	NOUN
cblr-1711	325	29	iii	iii	NOUN
cblr-1711	325	30	,	,	PUNCT
cblr-1711	325	31	crowdfunding	crowdfunde	VERB
cblr-1711	325	32	investors	investor	NOUN
cblr-1711	325	33	can	can	AUX
cblr-1711	325	34	become	become	VERB
cblr-1711	325	35	better	well	ADV
cblr-1711	325	36	informed	inform	VERB
cblr-1711	325	37	of	of	ADP
cblr-1711	325	38	the	the	DET
cblr-1711	325	39	nature	nature	NOUN
cblr-1711	325	40	of	of	ADP
cblr-1711	325	41	the	the	DET
cblr-1711	325	42	investment	investment	NOUN
cblr-1711	325	43	and	and	CCONJ
cblr-1711	325	44	better	well	ADV
cblr-1711	325	45	protected	protect	VERB
cblr-1711	325	46	against	against	ADP
cblr-1711	325	47	bad	bad	ADJ
cblr-1711	325	48	actor	actor	NOUN
cblr-1711	325	49	issuers	issuer	NOUN
cblr-1711	325	50	.	.	PUNCT
cblr-1711	326	1	c.	c.	NOUN
cblr-1711	326	2	liability	liability	NOUN
cblr-1711	326	3	of	of	ADP
cblr-1711	326	4	issuers	issuer	NOUN
cblr-1711	326	5	and	and	CCONJ
cblr-1711	326	6	intermediaries	intermediary	NOUN
cblr-1711	326	7	though	though	SCONJ
cblr-1711	326	8	not	not	PART
cblr-1711	326	9	a	a	DET
cblr-1711	326	10	preventative	preventative	ADJ
cblr-1711	326	11	protection	protection	NOUN
cblr-1711	326	12	,	,	PUNCT
cblr-1711	326	13	investors	investor	NOUN
cblr-1711	326	14	have	have	VERB
cblr-1711	326	15	a	a	DET
cblr-1711	326	16	private	private	ADJ
cblr-1711	326	17	cause	cause	NOUN
cblr-1711	326	18	of	of	ADP
cblr-1711	326	19	action	action	NOUN
cblr-1711	326	20	against	against	ADP
cblr-1711	326	21	an	an	DET
cblr-1711	326	22	issuer	issuer	NOUN
cblr-1711	326	23	for	for	ADP
cblr-1711	326	24	consideration	consideration	NOUN
cblr-1711	326	25	or	or	CCONJ
cblr-1711	326	26	damages	damage	NOUN
cblr-1711	326	27	if	if	SCONJ
cblr-1711	326	28	the	the	DET
cblr-1711	326	29	issuer	issuer	NOUN
cblr-1711	326	30	makes	make	VERB
cblr-1711	326	31	a	a	DET
cblr-1711	326	32	misleading	misleading	ADJ
cblr-1711	326	33	statement	statement	NOUN
cblr-1711	326	34	of	of	ADP
cblr-1711	326	35	material	material	ADJ
cblr-1711	326	36	fact	fact	NOUN
cblr-1711	326	37	,	,	PUNCT
cblr-1711	326	38	by	by	ADP
cblr-1711	326	39	either	either	CCONJ
cblr-1711	326	40	making	make	VERB
cblr-1711	326	41	an	an	DET
cblr-1711	326	42	untrue	untrue	ADJ
cblr-1711	326	43	statement	statement	NOUN
cblr-1711	326	44	or	or	CCONJ
cblr-1711	326	45	omitting	omit	VERB
cblr-1711	326	46	a	a	DET
cblr-1711	326	47	material	material	NOUN
cblr-1711	326	48	fact.146	fact.146	NOUN
cblr-1711	326	49	but	but	CCONJ
cblr-1711	326	50	due	due	ADP
cblr-1711	326	51	to	to	ADP
cblr-1711	326	52	restrictions	restriction	NOUN
cblr-1711	326	53	on	on	ADP
cblr-1711	326	54	individual	individual	ADJ
cblr-1711	326	55	investment	investment	NOUN
cblr-1711	326	56	amounts	amount	NOUN
cblr-1711	326	57	,	,	PUNCT
cblr-1711	326	58	most	most	ADJ
cblr-1711	326	59	crowdfunding	crowdfunde	VERB
cblr-1711	326	60	plaintiffs	plaintiff	NOUN
cblr-1711	326	61	may	may	AUX
cblr-1711	326	62	not	not	PART
cblr-1711	326	63	have	have	VERB
cblr-1711	326	64	a	a	DET
cblr-1711	326	65	strong	strong	ADJ
cblr-1711	326	66	incentive	incentive	NOUN
cblr-1711	326	67	to	to	PART
cblr-1711	326	68	sue	sue	VERB
cblr-1711	326	69	on	on	ADP
cblr-1711	326	70	their	their	PRON
cblr-1711	326	71	own	own	ADJ
cblr-1711	326	72	,	,	PUNCT
cblr-1711	326	73	instead	instead	ADV
cblr-1711	326	74	likely	likely	ADV
cblr-1711	326	75	relying	rely	VERB
cblr-1711	326	76	on	on	ADP
cblr-1711	326	77	class	class	NOUN
cblr-1711	326	78	action	action	NOUN
cblr-1711	326	79	suits	suit	NOUN
cblr-1711	326	80	against	against	ADP
cblr-1711	326	81	potentially	potentially	ADV
cblr-1711	326	82	fraudulent	fraudulent	ADJ
cblr-1711	326	83	issuers.147	issuers.147	NOUN
cblr-1711	326	84	section	section	NOUN
cblr-1711	326	85	302	302	NUM
cblr-1711	326	86	of	of	ADP
cblr-1711	326	87	the	the	DET
cblr-1711	326	88	jobs	job	NOUN
cblr-1711	326	89	act	act	NOUN
cblr-1711	326	90	creates	create	VERB
cblr-1711	326	91	liability	liability	NOUN
cblr-1711	326	92	for	for	ADP
cblr-1711	326	93	issuers	issuer	NOUN
cblr-1711	326	94	analogous	analogous	ADJ
cblr-1711	326	95	to	to	ADP
cblr-1711	326	96	section	section	NOUN
cblr-1711	326	97	12(a)(2	12(a)(2	NUM
cblr-1711	326	98	)	)	PUNCT
cblr-1711	326	99	of	of	ADP
cblr-1711	326	100	the	the	DET
cblr-1711	326	101	securities	security	NOUN
cblr-1711	326	102	act	act	PROPN
cblr-1711	326	103	,	,	PUNCT
cblr-1711	326	104	with	with	ADP
cblr-1711	326	105	section	section	NOUN
cblr-1711	326	106	12(b	12(b	NUM
cblr-1711	326	107	)	)	PUNCT
cblr-1711	326	108	,	,	PUNCT
cblr-1711	326	109	loss	loss	NOUN
cblr-1711	326	110	causation	causation	NOUN
cblr-1711	326	111	,	,	PUNCT
cblr-1711	326	112	and	and	CCONJ
cblr-1711	326	113	section	section	NOUN
cblr-1711	326	114	13	13	NUM
cblr-1711	326	115	,	,	PUNCT
cblr-1711	326	116	statute	statute	NOUN
cblr-1711	326	117	of	of	ADP
cblr-1711	326	118	limitations	limitation	NOUN
cblr-1711	326	119	,	,	PUNCT
cblr-1711	326	120	of	of	ADP
cblr-1711	326	121	the	the	DET
cblr-1711	326	122	securities	security	NOUN
cblr-1711	326	123	act	act	PROPN
cblr-1711	326	124	attaching	attach	VERB
cblr-1711	326	125	to	to	ADP
cblr-1711	326	126	liability	liability	NOUN
cblr-1711	326	127	as	as	SCONJ
cblr-1711	326	128	well.148	well.148	NOUN
cblr-1711	326	129	issuers	issuer	NOUN
cblr-1711	326	130	can	can	AUX
cblr-1711	326	131	avoid	avoid	VERB
cblr-1711	326	132	liability	liability	NOUN
cblr-1711	326	133	under	under	ADP
cblr-1711	326	134	section	section	NOUN
cblr-1711	326	135	12(a)(2	12(a)(2	NUM
cblr-1711	326	136	)	)	PUNCT
cblr-1711	326	137	if	if	SCONJ
cblr-1711	326	138	they	they	PRON
cblr-1711	326	139	can	can	AUX
cblr-1711	326	140	prove	prove	VERB
cblr-1711	326	141	they	they	PRON
cblr-1711	326	142	did	do	AUX
cblr-1711	326	143	not	not	PART
cblr-1711	326	144	know	know	VERB
cblr-1711	326	145	,	,	PUNCT
cblr-1711	326	146	and	and	CCONJ
cblr-1711	326	147	in	in	ADP
cblr-1711	326	148	the	the	DET
cblr-1711	326	149	exercise	exercise	NOUN
cblr-1711	326	150	of	of	ADP
cblr-1711	326	151	reasonable	reasonable	ADJ
cblr-1711	326	152	care	care	NOUN
cblr-1711	326	153	could	could	AUX
cblr-1711	326	154	not	not	PART
cblr-1711	326	155	have	have	AUX
cblr-1711	326	156	known	know	VERB
cblr-1711	326	157	,	,	PUNCT
cblr-1711	326	158	of	of	ADP
cblr-1711	326	159	the	the	DET
cblr-1711	326	160	material	material	NOUN
cblr-1711	326	161	misrepresentation	misrepresentation	NOUN
cblr-1711	326	162	or	or	CCONJ
cblr-1711	326	163	omission.149	omission.149	NUM
cblr-1711	326	164	additional	additional	ADJ
cblr-1711	326	165	defenses	defense	NOUN
cblr-1711	326	166	include	include	VERB
cblr-1711	326	167	that	that	SCONJ
cblr-1711	326	168	the	the	DET
cblr-1711	326	169	investor	investor	NOUN
cblr-1711	326	170	knew	know	VERB
cblr-1711	326	171	of	of	ADP
cblr-1711	326	172	the	the	DET
cblr-1711	326	173	misinformation150	misinformation150	PROPN
cblr-1711	326	174	or	or	CCONJ
cblr-1711	326	175	that	that	SCONJ
cblr-1711	326	176	it	it	PRON
cblr-1711	326	177	did	do	AUX
cblr-1711	326	178	not	not	PART
cblr-1711	326	179	cause	cause	VERB
cblr-1711	326	180	depreciation	depreciation	NOUN
cblr-1711	326	181	in	in	ADP
cblr-1711	326	182	the	the	DET
cblr-1711	326	183	value	value	NOUN
cblr-1711	326	184	of	of	ADP
cblr-1711	326	185	the	the	DET
cblr-1711	326	186	security.151	security.151	PROPN
cblr-1711	326	187	investors	investor	NOUN
cblr-1711	326	188	also	also	ADV
cblr-1711	326	189	have	have	VERB
cblr-1711	326	190	a	a	DET
cblr-1711	326	191	cause	cause	NOUN
cblr-1711	326	192	of	of	ADP
cblr-1711	326	193	action	action	NOUN
cblr-1711	326	194	under	under	ADP
cblr-1711	326	195	section	section	NOUN
cblr-1711	326	196	10	10	NUM
cblr-1711	326	197	of	of	ADP
cblr-1711	326	198	the	the	DET
cblr-1711	326	199	exchange	exchange	NOUN
cblr-1711	326	200	act	act	NOUN
cblr-1711	326	201	for	for	ADP
cblr-1711	326	202	a	a	DET
cblr-1711	326	203	violation	violation	NOUN
cblr-1711	326	204	of	of	ADP
cblr-1711	326	205	rule	rule	NOUN
cblr-1711	326	206	10b-5	10b-5	NUM
cblr-1711	326	207	,	,	PUNCT
cblr-1711	326	208	but	but	CCONJ
cblr-1711	326	209	,	,	PUNCT
cblr-1711	326	210	among	among	ADP
cblr-1711	326	211	other	other	ADJ
cblr-1711	326	212	elements	element	NOUN
cblr-1711	326	213	,	,	PUNCT
cblr-1711	326	214	the	the	DET
cblr-1711	326	215	investor	investor	NOUN
cblr-1711	326	216	must	must	AUX
cblr-1711	326	217	prove	prove	VERB
cblr-1711	326	218	scienter.152	scienter.152	NOUN
cblr-1711	326	219	146	146	NUM
cblr-1711	326	220	i	i	PROPN
cblr-1711	326	221	d.	d.	PROPN
cblr-1711	326	222	at	at	ADP
cblr-1711	326	223	170	170	NUM
cblr-1711	326	224	;	;	PUNCT
cblr-1711	326	225	see	see	VERB
cblr-1711	326	226	also	also	ADV
cblr-1711	326	227	15	15	NUM
cblr-1711	326	228	u.s.c	u.s.c	ADJ
cblr-1711	326	229	.	.	PUNCT
cblr-1711	327	1	§	§	PROPN
cblr-1711	327	2	77d-1	77d-1	NUM
cblr-1711	327	3	.	.	PUNCT
cblr-1711	328	1	147	147	NUM
cblr-1711	328	2	sherief	sherief	ADJ
cblr-1711	328	3	morsy	morsy	NOUN
cblr-1711	328	4	,	,	PUNCT
cblr-1711	328	5	note	note	VERB
cblr-1711	328	6	,	,	PUNCT
cblr-1711	328	7	the	the	DET
cblr-1711	328	8	jobs	job	NOUN
cblr-1711	328	9	act	act	VERB
cblr-1711	328	10	and	and	CCONJ
cblr-1711	328	11	crowdfunding	crowdfunding	NOUN
cblr-1711	328	12	:	:	PUNCT
cblr-1711	328	13	how	how	SCONJ
cblr-1711	328	14	narrowing	narrow	VERB
cblr-1711	328	15	the	the	DET
cblr-1711	328	16	secondary	secondary	ADJ
cblr-1711	328	17	market	market	NOUN
cblr-1711	328	18	handicaps	handicap	NOUN
cblr-1711	328	19	fraud	fraud	NOUN
cblr-1711	328	20	plaintiffs	plaintiff	NOUN
cblr-1711	328	21	,	,	PUNCT
cblr-1711	328	22	79	79	NUM
cblr-1711	328	23	brook	brook	NOUN
cblr-1711	328	24	.	.	PUNCT
cblr-1711	329	1	l.	l.	PROPN
cblr-1711	329	2	rev	rev	PROPN
cblr-1711	329	3	.	.	PROPN
cblr-1711	329	4	1373	1373	NUM
cblr-1711	329	5	,	,	PUNCT
cblr-1711	329	6	1385	1385	NUM
cblr-1711	329	7	(	(	PUNCT
cblr-1711	329	8	2014	2014	NUM
cblr-1711	329	9	)	)	PUNCT
cblr-1711	329	10	.	.	PUNCT
cblr-1711	330	1	148	148	NUM
cblr-1711	330	2	securities	security	NOUN
cblr-1711	330	3	act	act	NOUN
cblr-1711	330	4	of	of	ADP
cblr-1711	330	5	1933	1933	NUM
cblr-1711	330	6	,	,	PUNCT
cblr-1711	330	7	15	15	NUM
cblr-1711	330	8	u.s.c	u.s.c	NOUN
cblr-1711	330	9	.	.	PUNCT
cblr-1711	331	1	§	§	PROPN
cblr-1711	331	2	§	§	PROPN
cblr-1711	331	3	77l–77	77l–77	PROPN
cblr-1711	331	4	m	m	NOUN
cblr-1711	331	5	(	(	PUNCT
cblr-1711	331	6	2012	2012	NUM
cblr-1711	331	7	)	)	PUNCT
cblr-1711	331	8	;	;	PUNCT
cblr-1711	331	9	15	15	NUM
cblr-1711	331	10	u.s.c	u.s.c	NOUN
cblr-1711	331	11	.	.	PUNCT
cblr-1711	332	1	§	§	PROPN
cblr-1711	332	2	77d1	77d1	NUM
cblr-1711	332	3	(	(	PUNCT
cblr-1711	332	4	2012	2012	NUM
cblr-1711	332	5	)	)	PUNCT
cblr-1711	332	6	.	.	PUNCT
cblr-1711	333	1	149	149	NUM
cblr-1711	333	2	see	see	VERB
cblr-1711	333	3	morsy	morsy	NOUN
cblr-1711	333	4	,	,	PUNCT
cblr-1711	333	5	supra	supra	PROPN
cblr-1711	333	6	note	note	NOUN
cblr-1711	333	7	147	147	NUM
cblr-1711	333	8	,	,	PUNCT
cblr-1711	333	9	at	at	ADP
cblr-1711	333	10	1386	1386	NUM
cblr-1711	333	11	.	.	PUNCT
cblr-1711	334	1	150	150	NUM
cblr-1711	334	2	17	17	NUM
cblr-1711	334	3	c.f.r	c.f.r	NOUN
cblr-1711	334	4	.	.	PUNCT
cblr-1711	335	1	§	§	PROPN
cblr-1711	335	2	230.159	230.159	NUM
cblr-1711	335	3	(	(	PUNCT
cblr-1711	335	4	2005	2005	NUM
cblr-1711	335	5	)	)	PUNCT
cblr-1711	335	6	.	.	PUNCT
cblr-1711	336	1	151	151	NUM
cblr-1711	336	2	see	see	VERB
cblr-1711	336	3	morsy	morsy	NOUN
cblr-1711	336	4	,	,	PUNCT
cblr-1711	336	5	supra	supra	PROPN
cblr-1711	336	6	note	note	NOUN
cblr-1711	336	7	147	147	NUM
cblr-1711	336	8	,	,	PUNCT
cblr-1711	336	9	at	at	ADP
cblr-1711	336	10	1386	1386	NUM
cblr-1711	336	11	.	.	PUNCT
cblr-1711	337	1	152	152	NUM
cblr-1711	337	2	i	i	PRON
cblr-1711	337	3	d.	d.	NOUN
cblr-1711	337	4	at	at	ADP
cblr-1711	337	5	1387–88	1387–88	NUM
cblr-1711	337	6	.	.	PUNCT
cblr-1711	338	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	338	2	1088	1088	NUM
cblr-1711	338	3	columbia	columbia	PROPN
cblr-1711	338	4	business	business	NOUN
cblr-1711	338	5	law	law	PROPN
cblr-1711	338	6	review	review	NOUN
cblr-1711	338	7	[	[	X
cblr-1711	338	8	vol	vol	NOUN
cblr-1711	338	9	.	.	NOUN
cblr-1711	338	10	2018	2018	NUM
cblr-1711	338	11	identifying	identify	VERB
cblr-1711	338	12	the	the	DET
cblr-1711	338	13	issuer	issuer	NOUN
cblr-1711	338	14	in	in	ADP
cblr-1711	338	15	a	a	DET
cblr-1711	338	16	crowdfunding	crowdfunding	NOUN
cblr-1711	338	17	offering	offering	NOUN
cblr-1711	338	18	for	for	ADP
cblr-1711	338	19	the	the	DET
cblr-1711	338	20	purposes	purpose	NOUN
cblr-1711	338	21	of	of	ADP
cblr-1711	338	22	liability	liability	NOUN
cblr-1711	338	23	presents	present	VERB
cblr-1711	338	24	an	an	DET
cblr-1711	338	25	additional	additional	ADJ
cblr-1711	338	26	challenge	challenge	NOUN
cblr-1711	338	27	.	.	PUNCT
cblr-1711	339	1	because	because	SCONJ
cblr-1711	339	2	entrepreneurs	entrepreneur	NOUN
cblr-1711	339	3	engaged	engage	VERB
cblr-1711	339	4	in	in	ADP
cblr-1711	339	5	crowdfunding	crowdfunding	NOUN
cblr-1711	339	6	are	be	AUX
cblr-1711	339	7	by	by	ADP
cblr-1711	339	8	definition	definition	NOUN
cblr-1711	339	9	small	small	ADJ
cblr-1711	339	10	companies	company	NOUN
cblr-1711	339	11	,	,	PUNCT
cblr-1711	339	12	they	they	PRON
cblr-1711	339	13	may	may	AUX
cblr-1711	339	14	not	not	PART
cblr-1711	339	15	have	have	VERB
cblr-1711	339	16	the	the	DET
cblr-1711	339	17	resources	resource	NOUN
cblr-1711	339	18	to	to	PART
cblr-1711	339	19	defend	defend	VERB
cblr-1711	339	20	against	against	ADP
cblr-1711	339	21	a	a	DET
cblr-1711	339	22	class	class	NOUN
cblr-1711	339	23	action	action	NOUN
cblr-1711	339	24	lawsuit	lawsuit	NOUN
cblr-1711	339	25	.	.	PUNCT
cblr-1711	340	1	the	the	DET
cblr-1711	340	2	companies	company	NOUN
cblr-1711	340	3	may	may	AUX
cblr-1711	340	4	only	only	ADV
cblr-1711	340	5	consist	consist	VERB
cblr-1711	340	6	of	of	ADP
cblr-1711	340	7	one	one	NUM
cblr-1711	340	8	or	or	CCONJ
cblr-1711	340	9	a	a	DET
cblr-1711	340	10	few	few	ADJ
cblr-1711	340	11	people	people	NOUN
cblr-1711	340	12	,	,	PUNCT
cblr-1711	340	13	who	who	PRON
cblr-1711	340	14	use	use	VERB
cblr-1711	340	15	the	the	DET
cblr-1711	340	16	funds	fund	NOUN
cblr-1711	340	17	raised	raise	VERB
cblr-1711	340	18	immediately	immediately	ADV
cblr-1711	340	19	to	to	PART
cblr-1711	340	20	cover	cover	VERB
cblr-1711	340	21	operating	operating	NOUN
cblr-1711	340	22	costs	cost	NOUN
cblr-1711	340	23	or	or	CCONJ
cblr-1711	340	24	research	research	NOUN
cblr-1711	340	25	and	and	CCONJ
cblr-1711	340	26	development	development	NOUN
cblr-1711	340	27	.	.	PUNCT
cblr-1711	341	1	the	the	DET
cblr-1711	341	2	statute	statute	NOUN
cblr-1711	341	3	defines	define	VERB
cblr-1711	341	4	issuers	issuer	NOUN
cblr-1711	341	5	as	as	ADP
cblr-1711	341	6	:	:	PUNCT
cblr-1711	341	7	[	[	X
cblr-1711	341	8	a]ny	a]ny	NUM
cblr-1711	341	9	person	person	NOUN
cblr-1711	341	10	who	who	PRON
cblr-1711	341	11	is	be	AUX
cblr-1711	341	12	a	a	DET
cblr-1711	341	13	director	director	NOUN
cblr-1711	341	14	or	or	CCONJ
cblr-1711	341	15	partner	partner	NOUN
cblr-1711	341	16	of	of	ADP
cblr-1711	341	17	the	the	DET
cblr-1711	341	18	issuer	issuer	NOUN
cblr-1711	341	19	,	,	PUNCT
cblr-1711	341	20	and	and	CCONJ
cblr-1711	341	21	the	the	DET
cblr-1711	341	22	principal	principal	ADJ
cblr-1711	341	23	executive	executive	ADJ
cblr-1711	341	24	officer	officer	NOUN
cblr-1711	341	25	or	or	CCONJ
cblr-1711	341	26	officers	officer	NOUN
cblr-1711	341	27	,	,	PUNCT
cblr-1711	341	28	principal	principal	ADJ
cblr-1711	341	29	financial	financial	ADJ
cblr-1711	341	30	officer	officer	NOUN
cblr-1711	341	31	,	,	PUNCT
cblr-1711	341	32	and	and	CCONJ
cblr-1711	341	33	controller	controller	NOUN
cblr-1711	341	34	or	or	CCONJ
cblr-1711	341	35	principal	principal	ADJ
cblr-1711	341	36	accounting	accounting	NOUN
cblr-1711	341	37	officer	officer	NOUN
cblr-1711	341	38	of	of	ADP
cblr-1711	341	39	the	the	DET
cblr-1711	341	40	issuer	issuer	NOUN
cblr-1711	341	41	(	(	PUNCT
cblr-1711	341	42	and	and	CCONJ
cblr-1711	341	43	any	any	DET
cblr-1711	341	44	person	person	NOUN
cblr-1711	341	45	occupying	occupy	VERB
cblr-1711	341	46	a	a	DET
cblr-1711	341	47	similar	similar	ADJ
cblr-1711	341	48	status	status	NOUN
cblr-1711	341	49	or	or	CCONJ
cblr-1711	341	50	performing	perform	VERB
cblr-1711	341	51	a	a	DET
cblr-1711	341	52	similar	similar	ADJ
cblr-1711	341	53	function	function	NOUN
cblr-1711	341	54	)	)	PUNCT
cblr-1711	341	55	that	that	PRON
cblr-1711	341	56	offers	offer	VERB
cblr-1711	341	57	or	or	CCONJ
cblr-1711	341	58	sells	sell	VERB
cblr-1711	341	59	a	a	DET
cblr-1711	341	60	security	security	NOUN
cblr-1711	341	61	in	in	ADP
cblr-1711	341	62	a	a	DET
cblr-1711	341	63	transaction	transaction	NOUN
cblr-1711	341	64	exempted	exempt	VERB
cblr-1711	341	65	by	by	ADP
cblr-1711	341	66	the	the	DET
cblr-1711	341	67	provisions	provision	NOUN
cblr-1711	341	68	of	of	ADP
cblr-1711	341	69	section	section	NOUN
cblr-1711	341	70	4(6	4(6	NUM
cblr-1711	341	71	)	)	PUNCT
cblr-1711	341	72	,	,	PUNCT
cblr-1711	341	73	and	and	CCONJ
cblr-1711	341	74	any	any	DET
cblr-1711	341	75	person	person	NOUN
cblr-1711	341	76	who	who	PRON
cblr-1711	341	77	offers	offer	VERB
cblr-1711	341	78	or	or	CCONJ
cblr-1711	341	79	sells	sell	VERB
cblr-1711	341	80	the	the	DET
cblr-1711	341	81	security	security	NOUN
cblr-1711	341	82	in	in	ADP
cblr-1711	341	83	such	such	ADJ
cblr-1711	341	84	offering.153	offering.153	NOUN
cblr-1711	341	85	under	under	ADP
cblr-1711	341	86	this	this	DET
cblr-1711	341	87	definition	definition	NOUN
cblr-1711	341	88	,	,	PUNCT
cblr-1711	341	89	the	the	DET
cblr-1711	341	90	sec	sec	PROPN
cblr-1711	341	91	believes	believe	VERB
cblr-1711	341	92	that	that	SCONJ
cblr-1711	341	93	an	an	DET
cblr-1711	341	94	intermediary	intermediary	NOUN
cblr-1711	341	95	,	,	PUNCT
cblr-1711	341	96	including	include	VERB
cblr-1711	341	97	a	a	DET
cblr-1711	341	98	funding	funding	NOUN
cblr-1711	341	99	portal	portal	NOUN
cblr-1711	341	100	,	,	PUNCT
cblr-1711	341	101	could	could	AUX
cblr-1711	341	102	be	be	AUX
cblr-1711	341	103	considered	consider	VERB
cblr-1711	341	104	an	an	DET
cblr-1711	341	105	issuer	issuer	NOUN
cblr-1711	341	106	for	for	ADP
cblr-1711	341	107	the	the	DET
cblr-1711	341	108	purposes	purpose	NOUN
cblr-1711	341	109	of	of	ADP
cblr-1711	341	110	liability.154	liability.154	NOUN
cblr-1711	341	111	the	the	DET
cblr-1711	341	112	investor	investor	NOUN
cblr-1711	341	113	would	would	AUX
cblr-1711	341	114	have	have	VERB
cblr-1711	341	115	a	a	DET
cblr-1711	341	116	cause	cause	NOUN
cblr-1711	341	117	of	of	ADP
cblr-1711	341	118	action	action	NOUN
cblr-1711	341	119	against	against	ADP
cblr-1711	341	120	the	the	DET
cblr-1711	341	121	intermediary	intermediary	NOUN
cblr-1711	341	122	if	if	SCONJ
cblr-1711	341	123	the	the	DET
cblr-1711	341	124	startup	startup	NOUN
cblr-1711	341	125	made	make	VERB
cblr-1711	341	126	materially	materially	ADV
cblr-1711	341	127	false	false	ADJ
cblr-1711	341	128	statements	statement	NOUN
cblr-1711	341	129	and	and	CCONJ
cblr-1711	341	130	the	the	DET
cblr-1711	341	131	intermediary	intermediary	NOUN
cblr-1711	341	132	merely	merely	ADV
cblr-1711	341	133	passed	pass	VERB
cblr-1711	341	134	them	they	PRON
cblr-1711	341	135	along	along	ADP
cblr-1711	341	136	in	in	ADP
cblr-1711	341	137	the	the	DET
cblr-1711	341	138	offering	offering	NOUN
cblr-1711	341	139	to	to	ADP
cblr-1711	341	140	the	the	DET
cblr-1711	341	141	investor.155	investor.155	NOUN
cblr-1711	341	142	the	the	DET
cblr-1711	341	143	sec	sec	PROPN
cblr-1711	341	144	suggests	suggest	VERB
cblr-1711	341	145	that	that	SCONJ
cblr-1711	341	146	if	if	SCONJ
cblr-1711	341	147	the	the	DET
cblr-1711	341	148	original	original	ADJ
cblr-1711	341	149	issuer––the	issuer––the	PRON
cblr-1711	341	150	startup	startup	NOUN
cblr-1711	341	151	–	–	PUNCT
cblr-1711	341	152	–	–	PUNCT
cblr-1711	341	153	was	be	AUX
cblr-1711	341	154	available	available	ADJ
cblr-1711	341	155	,	,	PUNCT
cblr-1711	341	156	the	the	DET
cblr-1711	341	157	intermediary	intermediary	NOUN
cblr-1711	341	158	would	would	AUX
cblr-1711	341	159	not	not	PART
cblr-1711	341	160	be	be	AUX
cblr-1711	341	161	jointly	jointly	ADV
cblr-1711	341	162	liable	liable	ADJ
cblr-1711	341	163	.	.	PUNCT
cblr-1711	342	1	rather	rather	ADV
cblr-1711	342	2	,	,	PUNCT
cblr-1711	342	3	the	the	DET
cblr-1711	342	4	investor	investor	NOUN
cblr-1711	342	5	could	could	AUX
cblr-1711	342	6	bring	bring	VERB
cblr-1711	342	7	action	action	NOUN
cblr-1711	342	8	against	against	ADP
cblr-1711	342	9	the	the	DET
cblr-1711	342	10	intermediary	intermediary	NOUN
cblr-1711	342	11	only	only	ADV
cblr-1711	342	12	if	if	SCONJ
cblr-1711	342	13	the	the	DET
cblr-1711	342	14	original	original	ADJ
cblr-1711	342	15	issuer	issuer	NOUN
cblr-1711	342	16	was	be	AUX
cblr-1711	342	17	judgment	judgment	NOUN
cblr-1711	342	18	-	-	PUNCT
cblr-1711	342	19	proof	proof	ADJ
cblr-1711	342	20	–	–	PUNCT
cblr-1711	342	21	–	–	PUNCT
cblr-1711	342	22	for	for	ADP
cblr-1711	342	23	example	example	NOUN
cblr-1711	342	24	,	,	PUNCT
cblr-1711	342	25	if	if	SCONJ
cblr-1711	342	26	the	the	DET
cblr-1711	342	27	original	original	ADJ
cblr-1711	342	28	issuer	issuer	NOUN
cblr-1711	342	29	disappeared	disappear	VERB
cblr-1711	342	30	with	with	ADP
cblr-1711	342	31	the	the	DET
cblr-1711	342	32	investor	investor	NOUN
cblr-1711	342	33	’s	’s	PART
cblr-1711	342	34	money	money	NOUN
cblr-1711	342	35	after	after	ADP
cblr-1711	342	36	making	make	VERB
cblr-1711	342	37	materially	materially	ADV
cblr-1711	342	38	false	false	ADJ
cblr-1711	342	39	statements.156	statements.156	NOUN
cblr-1711	342	40	however	however	ADV
cblr-1711	342	41	,	,	PUNCT
cblr-1711	342	42	the	the	DET
cblr-1711	342	43	sec	sec	PROPN
cblr-1711	342	44	still	still	ADV
cblr-1711	342	45	does	do	AUX
cblr-1711	342	46	retain	retain	VERB
cblr-1711	342	47	the	the	DET
cblr-1711	342	48	reasonable	reasonable	ADJ
cblr-1711	342	49	belief	belief	NOUN
cblr-1711	342	50	standard	standard	NOUN
cblr-1711	342	51	for	for	ADP
cblr-1711	342	52	liability	liability	NOUN
cblr-1711	342	53	,	,	PUNCT
cblr-1711	342	54	such	such	ADJ
cblr-1711	342	55	that	that	SCONJ
cblr-1711	342	56	an	an	DET
cblr-1711	342	57	intermediary	intermediary	NOUN
cblr-1711	342	58	would	would	AUX
cblr-1711	342	59	only	only	ADV
cblr-1711	342	60	be	be	AUX
cblr-1711	342	61	subject	subject	ADJ
cblr-1711	342	62	to	to	ADP
cblr-1711	342	63	liability	liability	NOUN
cblr-1711	342	64	for	for	ADP
cblr-1711	342	65	a	a	DET
cblr-1711	342	66	materially	materially	ADV
cblr-1711	342	67	false	false	ADJ
cblr-1711	342	68	statement	statement	NOUN
cblr-1711	342	69	propagated	propagate	VERB
cblr-1711	342	70	through	through	ADP
cblr-1711	342	71	the	the	DET
cblr-1711	342	72	intermediary	intermediary	NOUN
cblr-1711	342	73	if	if	SCONJ
cblr-1711	342	74	the	the	DET
cblr-1711	342	75	intermediary	intermediary	NOUN
cblr-1711	342	76	153	153	NUM
cblr-1711	342	77	jumpstart	jumpstart	NOUN
cblr-1711	342	78	our	our	PRON
cblr-1711	342	79	business	business	NOUN
cblr-1711	342	80	startups	startup	NOUN
cblr-1711	342	81	act	act	PROPN
cblr-1711	342	82	,	,	PUNCT
cblr-1711	342	83	pub	pub	NOUN
cblr-1711	342	84	.	.	PUNCT
cblr-1711	343	1	l.	l.	PROPN
cblr-1711	343	2	no	no	INTJ
cblr-1711	343	3	.	.	PROPN
cblr-1711	344	1	112	112	NUM
cblr-1711	344	2	-	-	SYM
cblr-1711	344	3	106	106	NUM
cblr-1711	344	4	,	,	PUNCT
cblr-1711	344	5	§	§	PROPN
cblr-1711	344	6	302	302	NUM
cblr-1711	344	7	,	,	PUNCT
cblr-1711	344	8	126	126	NUM
cblr-1711	344	9	stat	stat	NOUN
cblr-1711	344	10	.	.	PUNCT
cblr-1711	345	1	306	306	NUM
cblr-1711	345	2	,	,	PUNCT
cblr-1711	345	3	319	319	NUM
cblr-1711	345	4	(	(	PUNCT
cblr-1711	345	5	2012	2012	NUM
cblr-1711	345	6	)	)	PUNCT
cblr-1711	345	7	(	(	PUNCT
cblr-1711	345	8	codified	codify	VERB
cblr-1711	345	9	as	as	SCONJ
cblr-1711	345	10	amended	amend	VERB
cblr-1711	345	11	in	in	ADP
cblr-1711	345	12	scattered	scatter	VERB
cblr-1711	345	13	sections	section	NOUN
cblr-1711	345	14	of	of	ADP
cblr-1711	345	15	15	15	NUM
cblr-1711	345	16	u.s.c	u.s.c	ADJ
cblr-1711	345	17	.	.	PUNCT
cblr-1711	345	18	)	)	PUNCT
cblr-1711	345	19	.	.	PUNCT
cblr-1711	346	1	154	154	NUM
cblr-1711	346	2	farnkoff	farnkoff	NOUN
cblr-1711	346	3	,	,	PUNCT
cblr-1711	346	4	supra	supra	PROPN
cblr-1711	346	5	note	note	PROPN
cblr-1711	346	6	14	14	NUM
cblr-1711	346	7	,	,	PUNCT
cblr-1711	346	8	at	at	ADP
cblr-1711	346	9	170	170	NUM
cblr-1711	346	10	.	.	PUNCT
cblr-1711	346	11	155	155	NUM
cblr-1711	346	12	see	see	VERB
cblr-1711	346	13	i	i	PRON
cblr-1711	346	14	d.	d.	PROPN
cblr-1711	346	15	156	156	NUM
cblr-1711	346	16	see	see	VERB
cblr-1711	346	17	i	i	PROPN
cblr-1711	346	18	d.	d.	PROPN
cblr-1711	346	19	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	347	1	no	no	NOUN
cblr-1711	347	2	.	.	PUNCT
cblr-1711	348	1	3:1060	3:1060	NUM
cblr-1711	348	2	]	]	X
cblr-1711	348	3	biotech	biotech	ADJ
cblr-1711	348	4	crowdfunding	crowdfunding	NOUN
cblr-1711	348	5	1089	1089	NUM
cblr-1711	348	6	failed	fail	VERB
cblr-1711	348	7	to	to	PART
cblr-1711	348	8	conduct	conduct	VERB
cblr-1711	348	9	an	an	DET
cblr-1711	348	10	adequate	adequate	ADJ
cblr-1711	348	11	review	review	NOUN
cblr-1711	348	12	of	of	ADP
cblr-1711	348	13	the	the	DET
cblr-1711	348	14	original	original	ADJ
cblr-1711	348	15	issuer	issuer	NOUN
cblr-1711	348	16	’s	’s	PART
cblr-1711	348	17	statements.157	statements.157	NOUN
cblr-1711	348	18	the	the	DET
cblr-1711	348	19	statute	statute	NOUN
cblr-1711	348	20	is	be	AUX
cblr-1711	348	21	also	also	ADV
cblr-1711	348	22	vague	vague	ADJ
cblr-1711	348	23	as	as	ADP
cblr-1711	348	24	to	to	ADP
cblr-1711	348	25	what	what	PRON
cblr-1711	348	26	constitutes	constitute	VERB
cblr-1711	348	27	reasonable	reasonable	ADJ
cblr-1711	348	28	or	or	CCONJ
cblr-1711	348	29	sufficient	sufficient	ADJ
cblr-1711	348	30	review	review	NOUN
cblr-1711	348	31	by	by	ADP
cblr-1711	348	32	the	the	DET
cblr-1711	348	33	intermediary	intermediary	NOUN
cblr-1711	348	34	as	as	ADP
cblr-1711	348	35	to	to	ADP
cblr-1711	348	36	the	the	DET
cblr-1711	348	37	issuer	issuer	NOUN
cblr-1711	348	38	’s	’s	PART
cblr-1711	348	39	statements	statement	NOUN
cblr-1711	348	40	and	and	CCONJ
cblr-1711	348	41	background	background	NOUN
cblr-1711	348	42	.	.	PUNCT
cblr-1711	349	1	the	the	DET
cblr-1711	349	2	crowdfunding	crowdfunding	NOUN
cblr-1711	349	3	provision	provision	NOUN
cblr-1711	349	4	,	,	PUNCT
cblr-1711	349	5	in	in	ADP
cblr-1711	349	6	addition	addition	NOUN
cblr-1711	349	7	to	to	ADP
cblr-1711	349	8	requiring	require	VERB
cblr-1711	349	9	the	the	DET
cblr-1711	349	10	intermediary	intermediary	NOUN
cblr-1711	349	11	to	to	PART
cblr-1711	349	12	ensure	ensure	VERB
cblr-1711	349	13	that	that	SCONJ
cblr-1711	349	14	investors	investor	NOUN
cblr-1711	349	15	do	do	AUX
cblr-1711	349	16	not	not	PART
cblr-1711	349	17	breach	breach	VERB
cblr-1711	349	18	their	their	PRON
cblr-1711	349	19	single	single	ADJ
cblr-1711	349	20	-	-	PUNCT
cblr-1711	349	21	issuer	issuer	NOUN
cblr-1711	349	22	or	or	CCONJ
cblr-1711	349	23	aggregate	aggregate	ADJ
cblr-1711	349	24	investment	investment	NOUN
cblr-1711	349	25	limits	limit	NOUN
cblr-1711	349	26	,	,	PUNCT
cblr-1711	349	27	requires	require	VERB
cblr-1711	349	28	the	the	DET
cblr-1711	349	29	intermediary	intermediary	NOUN
cblr-1711	349	30	to	to	PART
cblr-1711	349	31	“	"	PUNCT
cblr-1711	349	32	take	take	VERB
cblr-1711	349	33	measures	measure	NOUN
cblr-1711	349	34	to	to	PART
cblr-1711	349	35	reduce	reduce	VERB
cblr-1711	349	36	the	the	DET
cblr-1711	349	37	risk	risk	NOUN
cblr-1711	349	38	of	of	ADP
cblr-1711	349	39	fraud	fraud	NOUN
cblr-1711	349	40	,	,	PUNCT
cblr-1711	349	41	including	include	VERB
cblr-1711	349	42	background	background	NOUN
cblr-1711	349	43	and	and	CCONJ
cblr-1711	349	44	securities	security	NOUN
cblr-1711	349	45	enforcement	enforcement	NOUN
cblr-1711	349	46	regulatory	regulatory	ADJ
cblr-1711	349	47	checks	check	NOUN
cblr-1711	349	48	on	on	ADP
cblr-1711	349	49	the	the	DET
cblr-1711	349	50	officers	officer	NOUN
cblr-1711	349	51	,	,	PUNCT
cblr-1711	349	52	directors	director	NOUN
cblr-1711	349	53	and	and	CCONJ
cblr-1711	349	54	20	20	NUM
cblr-1711	349	55	%	%	NOUN
cblr-1711	349	56	shareholders	shareholder	NOUN
cblr-1711	349	57	of	of	ADP
cblr-1711	349	58	each	each	DET
cblr-1711	349	59	issuer	issuer	NOUN
cblr-1711	349	60	whose	whose	DET
cblr-1711	349	61	securities	security	NOUN
cblr-1711	349	62	it	it	PRON
cblr-1711	349	63	offers	offer	VERB
cblr-1711	349	64	and	and	CCONJ
cblr-1711	349	65	any	any	DET
cblr-1711	349	66	other	other	ADJ
cblr-1711	349	67	requirements	requirement	NOUN
cblr-1711	349	68	the	the	DET
cblr-1711	349	69	sec	sec	PROPN
cblr-1711	349	70	adopts	adopt	VERB
cblr-1711	349	71	.	.	PUNCT
cblr-1711	349	72	”158	”158	NOUN
cblr-1711	349	73	the	the	DET
cblr-1711	349	74	timing	timing	NOUN
cblr-1711	349	75	and	and	CCONJ
cblr-1711	349	76	substantiality	substantiality	NOUN
cblr-1711	349	77	of	of	ADP
cblr-1711	349	78	the	the	DET
cblr-1711	349	79	background	background	NOUN
cblr-1711	349	80	and	and	CCONJ
cblr-1711	349	81	regulatory	regulatory	ADJ
cblr-1711	349	82	history	history	NOUN
cblr-1711	349	83	checks	check	NOUN
cblr-1711	349	84	on	on	ADP
cblr-1711	349	85	the	the	DET
cblr-1711	349	86	issuer	issuer	NOUN
cblr-1711	349	87	are	be	AUX
cblr-1711	349	88	not	not	PART
cblr-1711	349	89	described	describe	VERB
cblr-1711	349	90	in	in	ADP
cblr-1711	349	91	the	the	DET
cblr-1711	349	92	statute	statute	NOUN
cblr-1711	349	93	.	.	PUNCT
cblr-1711	350	1	the	the	DET
cblr-1711	350	2	intermediary	intermediary	NOUN
cblr-1711	350	3	may	may	AUX
cblr-1711	350	4	only	only	ADV
cblr-1711	350	5	be	be	AUX
cblr-1711	350	6	required	require	VERB
cblr-1711	350	7	to	to	PART
cblr-1711	350	8	conduct	conduct	VERB
cblr-1711	350	9	one	one	NUM
cblr-1711	350	10	background	background	NOUN
cblr-1711	350	11	check	check	NOUN
cblr-1711	350	12	before	before	ADP
cblr-1711	350	13	listing	list	VERB
cblr-1711	350	14	the	the	DET
cblr-1711	350	15	issuer	issuer	NOUN
cblr-1711	350	16	on	on	ADP
cblr-1711	350	17	the	the	DET
cblr-1711	350	18	funding	funding	NOUN
cblr-1711	350	19	portal.159	portal.159	NOUN
cblr-1711	350	20	in	in	ADP
cblr-1711	350	21	any	any	DET
cblr-1711	350	22	startup	startup	NOUN
cblr-1711	350	23	,	,	PUNCT
cblr-1711	350	24	the	the	DET
cblr-1711	350	25	entrepreneur	entrepreneur	NOUN
cblr-1711	350	26	knows	know	VERB
cblr-1711	350	27	more	more	ADJ
cblr-1711	350	28	than	than	ADP
cblr-1711	350	29	potential	potential	ADJ
cblr-1711	350	30	investors	investor	NOUN
cblr-1711	350	31	,	,	PUNCT
cblr-1711	350	32	who	who	PRON
cblr-1711	350	33	typically	typically	ADV
cblr-1711	350	34	have	have	VERB
cblr-1711	350	35	no	no	DET
cblr-1711	350	36	prior	prior	ADJ
cblr-1711	350	37	background	background	NOUN
cblr-1711	350	38	knowledge	knowledge	NOUN
cblr-1711	350	39	of	of	ADP
cblr-1711	350	40	the	the	DET
cblr-1711	350	41	entrepreneur	entrepreneur	NOUN
cblr-1711	350	42	to	to	PART
cblr-1711	350	43	consider	consider	VERB
cblr-1711	350	44	.	.	PUNCT
cblr-1711	351	1	furthermore	furthermore	ADV
cblr-1711	351	2	,	,	PUNCT
cblr-1711	351	3	the	the	DET
cblr-1711	351	4	entrepreneur	entrepreneur	NOUN
cblr-1711	351	5	has	have	VERB
cblr-1711	351	6	an	an	DET
cblr-1711	351	7	incentive	incentive	NOUN
cblr-1711	351	8	to	to	PART
cblr-1711	351	9	portray	portray	VERB
cblr-1711	351	10	the	the	DET
cblr-1711	351	11	venture	venture	NOUN
cblr-1711	351	12	as	as	ADP
cblr-1711	351	13	new	new	ADJ
cblr-1711	351	14	and	and	CCONJ
cblr-1711	351	15	revolutionary	revolutionary	ADJ
cblr-1711	351	16	,	,	PUNCT
cblr-1711	351	17	or	or	CCONJ
cblr-1711	351	18	at	at	ADP
cblr-1711	351	19	least	least	ADJ
cblr-1711	351	20	as	as	ADP
cblr-1711	351	21	an	an	DET
cblr-1711	351	22	improvement	improvement	NOUN
cblr-1711	351	23	on	on	ADP
cblr-1711	351	24	existing	exist	VERB
cblr-1711	351	25	options	option	NOUN
cblr-1711	351	26	,	,	PUNCT
cblr-1711	351	27	in	in	ADP
cblr-1711	351	28	order	order	NOUN
cblr-1711	351	29	to	to	PART
cblr-1711	351	30	attract	attract	VERB
cblr-1711	351	31	financing	financing	NOUN
cblr-1711	351	32	.	.	PUNCT
cblr-1711	352	1	the	the	DET
cblr-1711	352	2	theranos	theranos	PROPN
cblr-1711	352	3	scandal	scandal	NOUN
cblr-1711	352	4	is	be	AUX
cblr-1711	352	5	a	a	DET
cblr-1711	352	6	prime	prime	ADJ
cblr-1711	352	7	example	example	NOUN
cblr-1711	352	8	of	of	ADP
cblr-1711	352	9	how	how	SCONJ
cblr-1711	352	10	information	information	NOUN
cblr-1711	352	11	asymmetry	asymmetry	NOUN
cblr-1711	352	12	and	and	CCONJ
cblr-1711	352	13	market	market	NOUN
cblr-1711	352	14	uncertainty	uncertainty	NOUN
cblr-1711	352	15	can	can	AUX
cblr-1711	352	16	be	be	AUX
cblr-1711	352	17	greatly	greatly	ADV
cblr-1711	352	18	exacerbated	exacerbate	VERB
cblr-1711	352	19	when	when	SCONJ
cblr-1711	352	20	the	the	DET
cblr-1711	352	21	entrepreneur	entrepreneur	NOUN
cblr-1711	352	22	takes	take	VERB
cblr-1711	352	23	active	active	ADJ
cblr-1711	352	24	steps	step	NOUN
cblr-1711	352	25	to	to	PART
cblr-1711	352	26	obscure	obscure	VERB
cblr-1711	352	27	her	her	PRON
cblr-1711	352	28	technology	technology	NOUN
cblr-1711	352	29	—	—	PUNCT
cblr-1711	352	30	pitching	pitch	VERB
cblr-1711	352	31	empty	empty	ADJ
cblr-1711	352	32	promises	promise	NOUN
cblr-1711	352	33	to	to	PART
cblr-1711	352	34	revolutionize	revolutionize	VERB
cblr-1711	352	35	the	the	DET
cblr-1711	352	36	medical	medical	ADJ
cblr-1711	352	37	field	field	NOUN
cblr-1711	352	38	—	—	PUNCT
cblr-1711	352	39	and	and	CCONJ
cblr-1711	352	40	investors	investor	NOUN
cblr-1711	352	41	are	be	AUX
cblr-1711	352	42	unsophisticated	unsophisticated	ADJ
cblr-1711	352	43	in	in	ADP
cblr-1711	352	44	the	the	DET
cblr-1711	352	45	technological	technological	ADJ
cblr-1711	352	46	area	area	NOUN
cblr-1711	352	47	.	.	PUNCT
cblr-1711	353	1	though	though	SCONJ
cblr-1711	353	2	secrecy	secrecy	NOUN
cblr-1711	353	3	and	and	CCONJ
cblr-1711	353	4	hype	hype	NOUN
cblr-1711	353	5	are	be	AUX
cblr-1711	353	6	not	not	PART
cblr-1711	353	7	unique	unique	ADJ
cblr-1711	353	8	in	in	ADP
cblr-1711	353	9	a	a	DET
cblr-1711	353	10	startup	startup	NOUN
cblr-1711	353	11	’s	’s	PART
cblr-1711	353	12	early	early	ADJ
cblr-1711	353	13	days,160	days,160	NOUN
cblr-1711	353	14	the	the	DET
cblr-1711	353	15	dangers	danger	NOUN
cblr-1711	353	16	can	can	AUX
cblr-1711	353	17	be	be	AUX
cblr-1711	353	18	too	too	ADV
cblr-1711	353	19	great	great	ADJ
cblr-1711	353	20	to	to	PART
cblr-1711	353	21	rely	rely	VERB
cblr-1711	353	22	on	on	ADP
cblr-1711	353	23	liability	liability	NOUN
cblr-1711	353	24	as	as	ADP
cblr-1711	353	25	a	a	DET
cblr-1711	353	26	157	157	NUM
cblr-1711	353	27	see	see	NOUN
cblr-1711	353	28	i	i	PROPN
cblr-1711	353	29	d.	d.	PROPN
cblr-1711	353	30	158	158	NUM
cblr-1711	353	31	jobs	job	NOUN
cblr-1711	353	32	act	act	PROPN
cblr-1711	353	33	:	:	PUNCT
cblr-1711	353	34	crowdfunding	crowdfunde	VERB
cblr-1711	353	35	summary	summary	NOUN
cblr-1711	353	36	,	,	PUNCT
cblr-1711	353	37	practical	practical	PROPN
cblr-1711	353	38	l.	l.	PROPN
cblr-1711	353	39	corp	corp	PROPN
cblr-1711	353	40	.	.	PROPN
cblr-1711	353	41	&	&	CCONJ
cblr-1711	353	42	sec	sec	PROPN
cblr-1711	353	43	.	.	PROPN
cblr-1711	353	44	,	,	PUNCT
cblr-1711	353	45	oct	oct	PROPN
cblr-1711	353	46	.	.	PROPN
cblr-1711	353	47	23	23	NUM
cblr-1711	353	48	,	,	PUNCT
cblr-1711	353	49	2013	2013	NUM
cblr-1711	353	50	,	,	PUNCT
cblr-1711	353	51	practical	practical	ADJ
cblr-1711	353	52	law	law	NOUN
cblr-1711	353	53	practice	practice	NOUN
cblr-1711	353	54	note	note	VERB
cblr-1711	353	55	6	6	NUM
cblr-1711	353	56	-	-	SYM
cblr-1711	353	57	518	518	NUM
cblr-1711	353	58	-	-	NUM
cblr-1711	353	59	7396	7396	NUM
cblr-1711	353	60	.	.	PUNCT
cblr-1711	354	1	159	159	NUM
cblr-1711	354	2	ibrahim	ibrahim	NOUN
cblr-1711	354	3	,	,	PUNCT
cblr-1711	354	4	supra	supra	PROPN
cblr-1711	354	5	note	note	PROPN
cblr-1711	354	6	14	14	NUM
cblr-1711	354	7	,	,	PUNCT
cblr-1711	354	8	at	at	ADP
cblr-1711	354	9	605	605	NUM
cblr-1711	354	10	.	.	PUNCT
cblr-1711	354	11	160	160	NUM
cblr-1711	354	12	see	see	VERB
cblr-1711	354	13	issie	issie	NOUN
cblr-1711	354	14	lapowsky	lapowsky	NOUN
cblr-1711	354	15	,	,	PUNCT
cblr-1711	354	16	theranos	theranos	PROPN
cblr-1711	354	17	’	'	PUNCT
cblr-1711	354	18	scandal	scandal	NOUN
cblr-1711	354	19	exposes	expose	VERB
cblr-1711	354	20	the	the	DET
cblr-1711	354	21	problem	problem	NOUN
cblr-1711	354	22	with	with	ADP
cblr-1711	354	23	tech	tech	NOUN
cblr-1711	354	24	’s	’s	PART
cblr-1711	354	25	hype	hype	NOUN
cblr-1711	354	26	cycle	cycle	NOUN
cblr-1711	354	27	,	,	PUNCT
cblr-1711	354	28	wired	wire	VERB
cblr-1711	354	29	(	(	PUNCT
cblr-1711	354	30	oct	oct	PROPN
cblr-1711	354	31	.	.	PROPN
cblr-1711	354	32	15	15	NUM
cblr-1711	354	33	,	,	PUNCT
cblr-1711	354	34	2015	2015	NUM
cblr-1711	354	35	,	,	PUNCT
cblr-1711	354	36	3:33	3:33	NUM
cblr-1711	354	37	pm	pm	NOUN
cblr-1711	354	38	)	)	PUNCT
cblr-1711	354	39	,	,	PUNCT
cblr-1711	354	40	https://www.wired.com/2015/10/theranos-scandal-exposes-the-problemwith-techs-hype-cycle/	https://www.wired.com/2015/10/theranos-scandal-exposes-the-problemwith-techs-hype-cycle/	NUM
cblr-1711	355	1	[	[	X
cblr-1711	355	2	https://perma.cc/7hzp-2c4a	https://perma.cc/7hzp-2c4a	X
cblr-1711	355	3	]	]	X
cblr-1711	355	4	(	(	PUNCT
cblr-1711	355	5	“	"	PUNCT
cblr-1711	355	6	grandiose	grandiose	ADJ
cblr-1711	355	7	promises	promise	VERB
cblr-1711	355	8	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	355	9	1090	1090	NUM
cblr-1711	355	10	columbia	columbia	PROPN
cblr-1711	355	11	business	business	NOUN
cblr-1711	355	12	law	law	PROPN
cblr-1711	355	13	review	review	NOUN
cblr-1711	355	14	[	[	X
cblr-1711	355	15	vol	vol	NOUN
cblr-1711	355	16	.	.	NOUN
cblr-1711	355	17	2018	2018	NUM
cblr-1711	355	18	deterrent	deterrent	NOUN
cblr-1711	355	19	for	for	ADP
cblr-1711	355	20	issuers	issuer	NOUN
cblr-1711	355	21	or	or	CCONJ
cblr-1711	355	22	solution	solution	NOUN
cblr-1711	355	23	for	for	ADP
cblr-1711	355	24	investors	investor	NOUN
cblr-1711	355	25	.	.	PUNCT
cblr-1711	356	1	especially	especially	ADV
cblr-1711	356	2	in	in	ADP
cblr-1711	356	3	the	the	DET
cblr-1711	356	4	biotech	biotech	ADJ
cblr-1711	356	5	sector	sector	NOUN
cblr-1711	356	6	,	,	PUNCT
cblr-1711	356	7	which	which	PRON
cblr-1711	356	8	directly	directly	ADV
cblr-1711	356	9	implicates	implicate	VERB
cblr-1711	356	10	individuals	individual	NOUN
cblr-1711	356	11	’	'	PUNCT
cblr-1711	356	12	medical	medical	PROPN
cblr-1711	356	13	treatment,161	treatment,161	VERB
cblr-1711	356	14	the	the	DET
cblr-1711	356	15	legal	legal	ADJ
cblr-1711	356	16	framework	framework	NOUN
cblr-1711	356	17	should	should	AUX
cblr-1711	356	18	take	take	VERB
cblr-1711	356	19	affirmative	affirmative	ADJ
cblr-1711	356	20	steps	step	NOUN
cblr-1711	356	21	to	to	PART
cblr-1711	356	22	prevent	prevent	VERB
cblr-1711	356	23	harm	harm	NOUN
cblr-1711	356	24	to	to	ADP
cblr-1711	356	25	investors	investor	NOUN
cblr-1711	356	26	and	and	CCONJ
cblr-1711	356	27	consumers	consumer	NOUN
cblr-1711	356	28	alike	alike	ADV
cblr-1711	356	29	.	.	PUNCT
cblr-1711	357	1	iv	iv	X
cblr-1711	357	2	.	.	PUNCT
cblr-1711	357	3	supplmentary	supplmentary	PROPN
cblr-1711	357	4	sources	source	NOUN
cblr-1711	357	5	of	of	ADP
cblr-1711	357	6	investor	investor	NOUN
cblr-1711	357	7	protection	protection	NOUN
cblr-1711	357	8	from	from	ADP
cblr-1711	357	9	patent	patent	NOUN
cblr-1711	357	10	and	and	CCONJ
cblr-1711	357	11	administrative	administrative	ADJ
cblr-1711	357	12	law	law	NOUN
cblr-1711	357	13	a.	a.	NOUN
cblr-1711	357	14	mandatory	mandatory	ADJ
cblr-1711	357	15	disclosure	disclosure	NOUN
cblr-1711	357	16	under	under	ADP
cblr-1711	357	17	title	title	NOUN
cblr-1711	357	18	iii	iii	NUM
cblr-1711	357	19	scholars	scholar	NOUN
cblr-1711	357	20	have	have	AUX
cblr-1711	357	21	debated	debate	VERB
cblr-1711	357	22	whether	whether	SCONJ
cblr-1711	357	23	investor	investor	NOUN
cblr-1711	357	24	protection	protection	NOUN
cblr-1711	357	25	should	should	AUX
cblr-1711	357	26	be	be	AUX
cblr-1711	357	27	the	the	DET
cblr-1711	357	28	central	central	ADJ
cblr-1711	357	29	goal	goal	NOUN
cblr-1711	357	30	of	of	ADP
cblr-1711	357	31	securities	security	NOUN
cblr-1711	357	32	regulation.162	regulation.162	VERB
cblr-1711	357	33	some	some	PRON
cblr-1711	357	34	argue	argue	VERB
cblr-1711	357	35	that	that	SCONJ
cblr-1711	357	36	the	the	DET
cblr-1711	357	37	objective	objective	NOUN
cblr-1711	357	38	of	of	ADP
cblr-1711	357	39	securities	security	NOUN
cblr-1711	357	40	law	law	NOUN
cblr-1711	357	41	should	should	AUX
cblr-1711	357	42	be	be	AUX
cblr-1711	357	43	the	the	DET
cblr-1711	357	44	maximization	maximization	NOUN
cblr-1711	357	45	of	of	ADP
cblr-1711	357	46	social	social	ADJ
cblr-1711	357	47	welfare	welfare	NOUN
cblr-1711	357	48	and	and	CCONJ
cblr-1711	357	49	that	that	SCONJ
cblr-1711	357	50	the	the	DET
cblr-1711	357	51	best	good	ADJ
cblr-1711	357	52	way	way	NOUN
cblr-1711	357	53	to	to	PART
cblr-1711	357	54	achieve	achieve	VERB
cblr-1711	357	55	that	that	DET
cblr-1711	357	56	objective	objective	NOUN
cblr-1711	357	57	is	be	AUX
cblr-1711	357	58	through	through	ADP
cblr-1711	357	59	regulations	regulation	NOUN
cblr-1711	357	60	aimed	aim	VERB
cblr-1711	357	61	at	at	ADP
cblr-1711	357	62	encouraging	encourage	VERB
cblr-1711	357	63	investment	investment	NOUN
cblr-1711	357	64	by	by	ADP
cblr-1711	357	65	sophisticated	sophisticated	ADJ
cblr-1711	357	66	institutional	institutional	ADJ
cblr-1711	357	67	investors.163	investors.163	NOUN
cblr-1711	357	68	discouraging	discourage	VERB
cblr-1711	357	69	individual	individual	ADJ
cblr-1711	357	70	investing	investing	NOUN
cblr-1711	357	71	has	have	VERB
cblr-1711	357	72	the	the	DET
cblr-1711	357	73	potential	potential	NOUN
cblr-1711	357	74	to	to	PART
cblr-1711	357	75	decrease	decrease	VERB
cblr-1711	357	76	the	the	DET
cblr-1711	357	77	costs	cost	NOUN
cblr-1711	357	78	borne	bear	VERB
cblr-1711	357	79	by	by	ADP
cblr-1711	357	80	issuers	issuer	NOUN
cblr-1711	357	81	and	and	CCONJ
cblr-1711	357	82	the	the	DET
cblr-1711	357	83	regulatory	regulatory	ADJ
cblr-1711	357	84	bodies	body	NOUN
cblr-1711	357	85	that	that	PRON
cblr-1711	357	86	enforce	enforce	VERB
cblr-1711	357	87	compliance	compliance	NOUN
cblr-1711	357	88	with	with	ADP
cblr-1711	357	89	the	the	DET
cblr-1711	357	90	securities	security	NOUN
cblr-1711	357	91	laws.164	laws.164	NOUN
cblr-1711	357	92	however	however	ADV
cblr-1711	357	93	,	,	PUNCT
cblr-1711	357	94	others	other	NOUN
cblr-1711	357	95	argue	argue	VERB
cblr-1711	357	96	that	that	SCONJ
cblr-1711	357	97	individual	individual	ADJ
cblr-1711	357	98	investing	investing	NOUN
cblr-1711	357	99	,	,	PUNCT
cblr-1711	357	100	regardless	regardless	ADV
cblr-1711	357	101	of	of	ADP
cblr-1711	357	102	the	the	DET
cblr-1711	357	103	sophistication	sophistication	NOUN
cblr-1711	357	104	of	of	ADP
cblr-1711	357	105	investors	investor	NOUN
cblr-1711	357	106	,	,	PUNCT
cblr-1711	357	107	can	can	AUX
cblr-1711	357	108	produce	produce	VERB
cblr-1711	357	109	efficiency	efficiency	NOUN
cblr-1711	357	110	benefits	benefit	NOUN
cblr-1711	357	111	by	by	ADP
cblr-1711	357	112	providing	provide	VERB
cblr-1711	357	113	an	an	DET
cblr-1711	357	114	important	important	ADJ
cblr-1711	357	115	source	source	NOUN
cblr-1711	357	116	of	of	ADP
cblr-1711	357	117	liquidity.165	liquidity.165	PROPN
cblr-1711	357	118	despite	despite	SCONJ
cblr-1711	357	119	the	the	DET
cblr-1711	357	120	academic	academic	ADJ
cblr-1711	357	121	debate	debate	NOUN
cblr-1711	357	122	are	be	AUX
cblr-1711	357	123	table	table	NOUN
cblr-1711	357	124	stakes	stake	NOUN
cblr-1711	357	125	in	in	ADP
cblr-1711	357	126	the	the	DET
cblr-1711	357	127	tech	tech	NOUN
cblr-1711	357	128	industry	industry	NOUN
cblr-1711	357	129	,	,	PUNCT
cblr-1711	357	130	a	a	DET
cblr-1711	357	131	requirement	requirement	NOUN
cblr-1711	357	132	for	for	ADP
cblr-1711	357	133	luring	lure	VERB
cblr-1711	357	134	both	both	DET
cblr-1711	357	135	investors	investor	NOUN
cblr-1711	357	136	and	and	CCONJ
cblr-1711	357	137	early	early	ADJ
cblr-1711	357	138	users	user	NOUN
cblr-1711	357	139	.	.	PUNCT
cblr-1711	358	1	and	and	CCONJ
cblr-1711	358	2	typically	typically	ADV
cblr-1711	358	3	,	,	PUNCT
cblr-1711	358	4	they	they	PRON
cblr-1711	358	5	’re	’re	VERB
cblr-1711	358	6	harmless	harmless	ADJ
cblr-1711	358	7	.	.	PUNCT
cblr-1711	358	8	”	"	PUNCT
cblr-1711	358	9	)	)	PUNCT
cblr-1711	358	10	.	.	PUNCT
cblr-1711	359	1	161	161	NUM
cblr-1711	359	2	see	see	VERB
cblr-1711	359	3	i	i	PROPN
cblr-1711	359	4	d.	d.	PROPN
cblr-1711	359	5	(	(	PUNCT
cblr-1711	359	6	comparing	compare	VERB
cblr-1711	359	7	the	the	DET
cblr-1711	359	8	fallout	fallout	NOUN
cblr-1711	359	9	from	from	ADP
cblr-1711	359	10	holmes	holme	NOUN
cblr-1711	359	11	’s	’s	PART
cblr-1711	359	12	actions	action	NOUN
cblr-1711	359	13	to	to	ADP
cblr-1711	359	14	promises	promise	NOUN
cblr-1711	359	15	made	make	VERB
cblr-1711	359	16	by	by	ADP
cblr-1711	359	17	executives	executive	NOUN
cblr-1711	359	18	at	at	ADP
cblr-1711	359	19	facebook	facebook	PROPN
cblr-1711	359	20	,	,	PUNCT
cblr-1711	359	21	uber	uber	ADJ
cblr-1711	359	22	,	,	PUNCT
cblr-1711	359	23	and	and	CCONJ
cblr-1711	359	24	tinder	tinder	NOUN
cblr-1711	359	25	that	that	SCONJ
cblr-1711	359	26	their	their	PRON
cblr-1711	359	27	products	product	NOUN
cblr-1711	359	28	would	would	AUX
cblr-1711	359	29	become	become	VERB
cblr-1711	359	30	global	global	ADJ
cblr-1711	359	31	networks	network	NOUN
cblr-1711	359	32	at	at	ADP
cblr-1711	359	33	the	the	DET
cblr-1711	359	34	early	early	ADJ
cblr-1711	359	35	stages	stage	NOUN
cblr-1711	359	36	of	of	ADP
cblr-1711	359	37	financing	financing	NOUN
cblr-1711	359	38	)	)	PUNCT
cblr-1711	359	39	.	.	PUNCT
cblr-1711	360	1	162	162	NUM
cblr-1711	360	2	see	see	VERB
cblr-1711	360	3	colleen	colleen	PROPN
cblr-1711	360	4	honigsberg	honigsberg	PROPN
cblr-1711	360	5	,	,	PUNCT
cblr-1711	360	6	robert	robert	PROPN
cblr-1711	360	7	j.	j.	PROPN
cblr-1711	360	8	jackson	jackson	PROPN
cblr-1711	360	9	,	,	PUNCT
cblr-1711	360	10	jr	jr	PROPN
cblr-1711	360	11	.	.	PROPN
cblr-1711	360	12	&	&	CCONJ
cblr-1711	360	13	yu	yu	PROPN
cblr-1711	360	14	-	-	PROPN
cblr-1711	360	15	ting	ting	ADJ
cblr-1711	360	16	forester	forester	PROPN
cblr-1711	360	17	wong	wong	PROPN
cblr-1711	360	18	,	,	PUNCT
cblr-1711	360	19	mandatory	mandatory	ADJ
cblr-1711	360	20	disclosure	disclosure	NOUN
cblr-1711	360	21	and	and	CCONJ
cblr-1711	360	22	individual	individual	ADJ
cblr-1711	360	23	investors	investor	NOUN
cblr-1711	360	24	:	:	PUNCT
cblr-1711	360	25	evidence	evidence	NOUN
cblr-1711	360	26	from	from	ADP
cblr-1711	360	27	the	the	DET
cblr-1711	360	28	jobs	job	NOUN
cblr-1711	360	29	act	act	NOUN
cblr-1711	360	30	,	,	PUNCT
cblr-1711	360	31	93	93	NUM
cblr-1711	360	32	wash	wash	NOUN
cblr-1711	360	33	.	.	PUNCT
cblr-1711	361	1	u.	u.	PROPN
cblr-1711	361	2	l.	l.	PROPN
cblr-1711	361	3	rev	rev	PROPN
cblr-1711	361	4	.	.	PROPN
cblr-1711	361	5	293	293	NUM
cblr-1711	361	6	,	,	PUNCT
cblr-1711	361	7	299–300	299–300	NUM
cblr-1711	361	8	(	(	PUNCT
cblr-1711	361	9	2015	2015	NUM
cblr-1711	361	10	)	)	PUNCT
cblr-1711	361	11	(	(	PUNCT
cblr-1711	361	12	describing	describe	VERB
cblr-1711	361	13	several	several	ADJ
cblr-1711	361	14	perspectives	perspective	NOUN
cblr-1711	361	15	on	on	ADP
cblr-1711	361	16	whether	whether	SCONJ
cblr-1711	361	17	the	the	DET
cblr-1711	361	18	securities	security	NOUN
cblr-1711	361	19	laws	law	NOUN
cblr-1711	361	20	should	should	AUX
cblr-1711	361	21	encourage	encourage	VERB
cblr-1711	361	22	individual	individual	ADJ
cblr-1711	361	23	investor	investor	NOUN
cblr-1711	361	24	participation	participation	NOUN
cblr-1711	361	25	)	)	PUNCT
cblr-1711	361	26	.	.	PUNCT
cblr-1711	362	1	163	163	NUM
cblr-1711	363	1	i	i	PRON
cblr-1711	363	2	d.	d.	NOUN
cblr-1711	363	3	at	at	ADP
cblr-1711	363	4	299	299	NUM
cblr-1711	363	5	(	(	PUNCT
cblr-1711	363	6	citing	cite	VERB
cblr-1711	363	7	zohar	zohar	PROPN
cblr-1711	363	8	goshen	goshen	PROPN
cblr-1711	363	9	&	&	CCONJ
cblr-1711	363	10	gideon	gideon	PROPN
cblr-1711	363	11	parchomovsky	parchomovsky	PROPN
cblr-1711	363	12	,	,	PUNCT
cblr-1711	363	13	the	the	DET
cblr-1711	363	14	essential	essential	ADJ
cblr-1711	363	15	role	role	NOUN
cblr-1711	363	16	of	of	ADP
cblr-1711	363	17	securities	security	NOUN
cblr-1711	363	18	regulation	regulation	NOUN
cblr-1711	363	19	,	,	PUNCT
cblr-1711	363	20	55	55	NUM
cblr-1711	363	21	duke	duke	PROPN
cblr-1711	363	22	l.j	l.j	PROPN
cblr-1711	363	23	.	.	PROPN
cblr-1711	363	24	711	711	NUM
cblr-1711	363	25	(	(	PUNCT
cblr-1711	363	26	2006	2006	NUM
cblr-1711	363	27	)	)	PUNCT
cblr-1711	363	28	)	)	PUNCT
cblr-1711	363	29	.	.	PUNCT
cblr-1711	364	1	164	164	NUM
cblr-1711	364	2	i	i	PROPN
cblr-1711	364	3	d.	d.	PROPN
cblr-1711	364	4	(	(	PUNCT
cblr-1711	364	5	citing	cite	VERB
cblr-1711	364	6	luigi	luigi	PROPN
cblr-1711	364	7	zingales	zingales	PROPN
cblr-1711	364	8	,	,	PUNCT
cblr-1711	364	9	the	the	DET
cblr-1711	364	10	future	future	NOUN
cblr-1711	364	11	of	of	ADP
cblr-1711	364	12	securities	security	NOUN
cblr-1711	364	13	regulation	regulation	NOUN
cblr-1711	364	14	,	,	PUNCT
cblr-1711	364	15	47	47	NUM
cblr-1711	364	16	j.	j.	PROPN
cblr-1711	364	17	acct	acct	PROPN
cblr-1711	364	18	.	.	PUNCT
cblr-1711	365	1	res	re	NOUN
cblr-1711	365	2	.	.	PROPN
cblr-1711	365	3	391	391	NUM
cblr-1711	365	4	,	,	PUNCT
cblr-1711	365	5	417	417	NUM
cblr-1711	365	6	(	(	PUNCT
cblr-1711	365	7	2009	2009	NUM
cblr-1711	365	8	)	)	PUNCT
cblr-1711	365	9	)	)	PUNCT
cblr-1711	365	10	.	.	PUNCT
cblr-1711	366	1	165	165	NUM
cblr-1711	367	1	i	i	PRON
cblr-1711	367	2	d.	d.	PROPN
cblr-1711	367	3	(	(	PUNCT
cblr-1711	367	4	citing	cite	VERB
cblr-1711	367	5	ron	ron	PROPN
cblr-1711	367	6	kaniel	kaniel	PROPN
cblr-1711	367	7	et	et	PROPN
cblr-1711	367	8	al	al	PROPN
cblr-1711	367	9	.	.	PROPN
cblr-1711	367	10	,	,	PUNCT
cblr-1711	367	11	individual	individual	ADJ
cblr-1711	367	12	investor	investor	NOUN
cblr-1711	367	13	trading	trading	NOUN
cblr-1711	367	14	and	and	CCONJ
cblr-1711	367	15	stock	stock	NOUN
cblr-1711	367	16	returns	return	NOUN
cblr-1711	367	17	,	,	PUNCT
cblr-1711	367	18	63	63	NUM
cblr-1711	367	19	j.	j.	PROPN
cblr-1711	367	20	fin	fin	PROPN
cblr-1711	367	21	.	.	PUNCT
cblr-1711	368	1	273	273	NUM
cblr-1711	368	2	,	,	PUNCT
cblr-1711	368	3	274	274	NUM
cblr-1711	368	4	(	(	PUNCT
cblr-1711	368	5	2008	2008	NUM
cblr-1711	368	6	)	)	PUNCT
cblr-1711	368	7	;	;	PUNCT
cblr-1711	368	8	qin	qin	PROPN
cblr-1711	368	9	wang	wang	PROPN
cblr-1711	368	10	&	&	CCONJ
cblr-1711	368	11	jun	jun	PROPN
cblr-1711	368	12	zhang	zhang	PROPN
cblr-1711	368	13	,	,	PUNCT
cblr-1711	368	14	individual	individual	NOUN
cblr-1711	368	15	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	368	16	no	no	NOUN
cblr-1711	368	17	.	.	NOUN
cblr-1711	369	1	3:1060	3:1060	NUM
cblr-1711	369	2	]	]	X
cblr-1711	369	3	biotech	biotech	NOUN
cblr-1711	369	4	crowdfunding	crowdfunde	VERB
cblr-1711	369	5	1091	1091	NUM
cblr-1711	369	6	over	over	ADP
cblr-1711	369	7	what	what	PRON
cblr-1711	369	8	the	the	DET
cblr-1711	369	9	securities	security	NOUN
cblr-1711	369	10	laws	law	NOUN
cblr-1711	369	11	should	should	AUX
cblr-1711	369	12	aspire	aspire	VERB
cblr-1711	369	13	to	to	PART
cblr-1711	369	14	achieve	achieve	VERB
cblr-1711	369	15	,	,	PUNCT
cblr-1711	369	16	policymakers	policymaker	NOUN
cblr-1711	369	17	have	have	AUX
cblr-1711	369	18	consistently	consistently	ADV
cblr-1711	369	19	focused	focus	VERB
cblr-1711	369	20	on	on	ADP
cblr-1711	369	21	individual	individual	ADJ
cblr-1711	369	22	investor	investor	NOUN
cblr-1711	369	23	protection	protection	NOUN
cblr-1711	369	24	as	as	ADP
cblr-1711	369	25	a	a	DET
cblr-1711	369	26	principal	principal	ADJ
cblr-1711	369	27	regulatory	regulatory	ADJ
cblr-1711	369	28	objective.166	objective.166	NOUN
cblr-1711	369	29	in	in	ADP
cblr-1711	369	30	order	order	NOUN
cblr-1711	369	31	to	to	PART
cblr-1711	369	32	protect	protect	VERB
cblr-1711	369	33	and	and	CCONJ
cblr-1711	369	34	provide	provide	VERB
cblr-1711	369	35	individual	individual	ADJ
cblr-1711	369	36	investors	investor	NOUN
cblr-1711	369	37	with	with	ADP
cblr-1711	369	38	equal	equal	ADJ
cblr-1711	369	39	access	access	NOUN
cblr-1711	369	40	to	to	ADP
cblr-1711	369	41	securities	security	NOUN
cblr-1711	369	42	markets	market	NOUN
cblr-1711	369	43	,	,	PUNCT
cblr-1711	369	44	mandatory	mandatory	ADJ
cblr-1711	369	45	disclosure	disclosure	NOUN
cblr-1711	369	46	rules	rule	NOUN
cblr-1711	369	47	have	have	AUX
cblr-1711	369	48	become	become	VERB
cblr-1711	369	49	the	the	DET
cblr-1711	369	50	cornerstone	cornerstone	NOUN
cblr-1711	369	51	of	of	ADP
cblr-1711	369	52	federal	federal	ADJ
cblr-1711	369	53	securities	security	NOUN
cblr-1711	369	54	law.167	law.167	VERB
cblr-1711	369	55	whether	whether	SCONJ
cblr-1711	369	56	mandatory	mandatory	ADJ
cblr-1711	369	57	disclosure	disclosure	NOUN
cblr-1711	369	58	actually	actually	ADV
cblr-1711	369	59	achieves	achieve	VERB
cblr-1711	369	60	these	these	DET
cblr-1711	369	61	goals	goal	NOUN
cblr-1711	369	62	of	of	ADP
cblr-1711	369	63	protection	protection	NOUN
cblr-1711	369	64	and	and	CCONJ
cblr-1711	369	65	access	access	NOUN
cblr-1711	369	66	for	for	ADP
cblr-1711	369	67	individual	individual	ADJ
cblr-1711	369	68	investors	investor	NOUN
cblr-1711	369	69	is	be	AUX
cblr-1711	369	70	another	another	DET
cblr-1711	369	71	point	point	NOUN
cblr-1711	369	72	of	of	ADP
cblr-1711	369	73	academic	academic	ADJ
cblr-1711	369	74	debate	debate	NOUN
cblr-1711	369	75	—	—	PUNCT
cblr-1711	369	76	one	one	NUM
cblr-1711	369	77	side	side	NOUN
cblr-1711	369	78	argues	argue	VERB
cblr-1711	369	79	that	that	SCONJ
cblr-1711	369	80	disclosure	disclosure	NOUN
cblr-1711	369	81	facilitates	facilitate	VERB
cblr-1711	369	82	individual	individual	ADJ
cblr-1711	369	83	investor	investor	NOUN
cblr-1711	369	84	participation	participation	NOUN
cblr-1711	369	85	by	by	ADP
cblr-1711	369	86	reducing	reduce	VERB
cblr-1711	369	87	information	information	NOUN
cblr-1711	369	88	asymmetry	asymmetry	NOUN
cblr-1711	369	89	among	among	ADP
cblr-1711	369	90	different	different	ADJ
cblr-1711	369	91	types	type	NOUN
cblr-1711	369	92	of	of	ADP
cblr-1711	369	93	investors	investor	NOUN
cblr-1711	369	94	,	,	PUNCT
cblr-1711	369	95	while	while	SCONJ
cblr-1711	369	96	the	the	DET
cblr-1711	369	97	other	other	ADJ
cblr-1711	369	98	suggests	suggest	VERB
cblr-1711	369	99	that	that	SCONJ
cblr-1711	369	100	additional	additional	ADJ
cblr-1711	369	101	disclosure	disclosure	NOUN
cblr-1711	369	102	does	do	AUX
cblr-1711	369	103	not	not	PART
cblr-1711	369	104	benefit	benefit	VERB
cblr-1711	369	105	individual	individual	ADJ
cblr-1711	369	106	investors	investor	NOUN
cblr-1711	369	107	,	,	PUNCT
cblr-1711	369	108	who	who	PRON
cblr-1711	369	109	are	be	AUX
cblr-1711	369	110	already	already	ADV
cblr-1711	369	111	overloaded	overload	VERB
cblr-1711	369	112	with	with	ADP
cblr-1711	369	113	information	information	NOUN
cblr-1711	369	114	and	and	CCONJ
cblr-1711	369	115	unable	unable	ADJ
cblr-1711	369	116	to	to	PART
cblr-1711	369	117	extract	extract	VERB
cblr-1711	369	118	relevant	relevant	ADJ
cblr-1711	369	119	information	information	NOUN
cblr-1711	369	120	from	from	ADP
cblr-1711	369	121	complex	complex	ADJ
cblr-1711	369	122	securities	security	NOUN
cblr-1711	369	123	filings.168	filings.168	NOUN
cblr-1711	369	124	a	a	DET
cblr-1711	369	125	study	study	NOUN
cblr-1711	369	126	collecting	collect	VERB
cblr-1711	369	127	and	and	CCONJ
cblr-1711	369	128	analyzing	analyze	VERB
cblr-1711	369	129	empirical	empirical	ADJ
cblr-1711	369	130	evidence	evidence	NOUN
cblr-1711	369	131	around	around	ADP
cblr-1711	369	132	the	the	DET
cblr-1711	369	133	ipo	ipo	NOUN
cblr-1711	369	134	stage	stage	NOUN
cblr-1711	369	135	demonstrated	demonstrate	VERB
cblr-1711	369	136	that	that	SCONJ
cblr-1711	369	137	“	"	PUNCT
cblr-1711	369	138	reducing	reduce	VERB
cblr-1711	369	139	the	the	DET
cblr-1711	369	140	information	information	NOUN
cblr-1711	369	141	that	that	SCONJ
cblr-1711	369	142	firms	firm	NOUN
cblr-1711	369	143	are	be	AUX
cblr-1711	369	144	required	require	VERB
cblr-1711	369	145	to	to	PART
cblr-1711	369	146	disclose	disclose	VERB
cblr-1711	369	147	before	before	SCONJ
cblr-1711	369	148	an	an	DET
cblr-1711	369	149	ipo	ipo	NOUN
cblr-1711	369	150	leads	lead	VERB
cblr-1711	369	151	to	to	ADP
cblr-1711	369	152	a	a	DET
cblr-1711	369	153	statistically	statistically	ADV
cblr-1711	369	154	and	and	CCONJ
cblr-1711	369	155	economically	economically	ADV
cblr-1711	369	156	significant	significant	ADJ
cblr-1711	369	157	decrease	decrease	NOUN
cblr-1711	369	158	in	in	ADP
cblr-1711	369	159	individual	individual	ADJ
cblr-1711	369	160	investor	investor	NOUN
cblr-1711	369	161	participation	participation	NOUN
cblr-1711	369	162	in	in	ADP
cblr-1711	369	163	the	the	DET
cblr-1711	369	164	ipo	ipo	NOUN
cblr-1711	369	165	.	.	PUNCT
cblr-1711	370	1	importantly	importantly	ADV
cblr-1711	370	2	,	,	PUNCT
cblr-1711	370	3	however	however	ADV
cblr-1711	370	4	,	,	PUNCT
cblr-1711	370	5	this	this	DET
cblr-1711	370	6	effect	effect	NOUN
cblr-1711	370	7	is	be	AUX
cblr-1711	370	8	substantially	substantially	ADV
cblr-1711	370	9	reduced	reduce	VERB
cblr-1711	370	10	during	during	ADP
cblr-1711	370	11	the	the	DET
cblr-1711	370	12	week	week	NOUN
cblr-1711	370	13	of	of	ADP
cblr-1711	370	14	trading	trading	NOUN
cblr-1711	370	15	following	follow	VERB
cblr-1711	370	16	the	the	DET
cblr-1711	370	17	ipo	ipo	NOUN
cblr-1711	370	18	—	—	PUNCT
cblr-1711	370	19	and	and	CCONJ
cblr-1711	370	20	disappears	disappear	VERB
cblr-1711	370	21	completely	completely	ADV
cblr-1711	370	22	after	after	ADP
cblr-1711	370	23	two	two	NUM
cblr-1711	370	24	weeks	week	NOUN
cblr-1711	370	25	.	.	PUNCT
cblr-1711	370	26	”169	”169	PUNCT
cblr-1711	371	1	the	the	DET
cblr-1711	371	2	authors	author	NOUN
cblr-1711	371	3	found	find	VERB
cblr-1711	371	4	that	that	SCONJ
cblr-1711	371	5	“	"	PUNCT
cblr-1711	371	6	individual	individual	ADJ
cblr-1711	371	7	investors	investor	NOUN
cblr-1711	371	8	who	who	PRON
cblr-1711	371	9	are	be	AUX
cblr-1711	371	10	at	at	ADP
cblr-1711	371	11	an	an	DET
cblr-1711	371	12	informational	informational	ADJ
cblr-1711	371	13	disadvantage	disadvantage	NOUN
cblr-1711	371	14	to	to	ADP
cblr-1711	371	15	other	other	ADJ
cblr-1711	371	16	investors	investor	NOUN
cblr-1711	371	17	will	will	AUX
cblr-1711	371	18	be	be	AUX
cblr-1711	371	19	less	less	ADV
cblr-1711	371	20	likely	likely	ADJ
cblr-1711	371	21	to	to	PART
cblr-1711	371	22	participate	participate	VERB
cblr-1711	371	23	in	in	ADP
cblr-1711	371	24	securities	security	NOUN
cblr-1711	371	25	markets	market	NOUN
cblr-1711	371	26	.	.	PUNCT
cblr-1711	372	1	”170	”170	PUNCT
cblr-1711	372	2	mandating	mandate	VERB
cblr-1711	372	3	disclosure	disclosure	NOUN
cblr-1711	372	4	investor	investor	NOUN
cblr-1711	372	5	trading	trading	NOUN
cblr-1711	372	6	and	and	CCONJ
cblr-1711	372	7	stock	stock	NOUN
cblr-1711	372	8	liquidity	liquidity	NOUN
cblr-1711	373	1	,	,	PUNCT
cblr-1711	373	2	45	45	NUM
cblr-1711	373	3	rev	rev	X
cblr-1711	373	4	.	.	PROPN
cblr-1711	374	1	quantitative	quantitative	ADJ
cblr-1711	374	2	fin	fin	PROPN
cblr-1711	374	3	.	.	PUNCT
cblr-1711	374	4	&	&	CCONJ
cblr-1711	374	5	acct	acct	NOUN
cblr-1711	374	6	.	.	PUNCT
cblr-1711	375	1	485	485	NUM
cblr-1711	375	2	,	,	PUNCT
cblr-1711	375	3	486	486	NUM
cblr-1711	375	4	(	(	PUNCT
cblr-1711	375	5	2015	2015	NUM
cblr-1711	375	6	)	)	PUNCT
cblr-1711	375	7	)	)	PUNCT
cblr-1711	375	8	.	.	PUNCT
cblr-1711	376	1	166	166	NUM
cblr-1711	377	1	i	i	PRON
cblr-1711	377	2	d.	d.	PROPN
cblr-1711	377	3	at	at	ADP
cblr-1711	377	4	300	300	NUM
cblr-1711	377	5	.	.	PUNCT
cblr-1711	378	1	167	167	NUM
cblr-1711	379	1	i	i	PRON
cblr-1711	379	2	d.	d.	PROPN
cblr-1711	379	3	at	at	ADP
cblr-1711	379	4	295	295	NUM
cblr-1711	379	5	.	.	PUNCT
cblr-1711	380	1	168	168	NUM
cblr-1711	380	2	i	i	PRON
cblr-1711	380	3	d.	d.	PROPN
cblr-1711	380	4	(	(	PUNCT
cblr-1711	380	5	citing	cite	VERB
cblr-1711	380	6	,	,	PUNCT
cblr-1711	380	7	for	for	ADP
cblr-1711	380	8	example	example	NOUN
cblr-1711	380	9	,	,	PUNCT
cblr-1711	380	10	brian	brian	PROPN
cblr-1711	380	11	j.	j.	PROPN
cblr-1711	380	12	bushee	bushee	PROPN
cblr-1711	380	13	et	et	PROPN
cblr-1711	380	14	al	al	PROPN
cblr-1711	380	15	.	.	PROPN
cblr-1711	380	16	,	,	PUNCT
cblr-1711	380	17	open	open	ADJ
cblr-1711	380	18	versus	versus	ADP
cblr-1711	380	19	closed	closed	ADJ
cblr-1711	380	20	conference	conference	NOUN
cblr-1711	380	21	calls	call	NOUN
cblr-1711	380	22	:	:	PUNCT
cblr-1711	380	23	the	the	DET
cblr-1711	380	24	determinants	determinant	NOUN
cblr-1711	380	25	and	and	CCONJ
cblr-1711	380	26	effects	effect	NOUN
cblr-1711	380	27	of	of	ADP
cblr-1711	380	28	broadening	broaden	VERB
cblr-1711	380	29	access	access	NOUN
cblr-1711	380	30	to	to	ADP
cblr-1711	380	31	disclosure	disclosure	NOUN
cblr-1711	380	32	,	,	PUNCT
cblr-1711	380	33	34	34	NUM
cblr-1711	380	34	j.	j.	PROPN
cblr-1711	380	35	acct	acct	PROPN
cblr-1711	380	36	.	.	PROPN
cblr-1711	380	37	&	&	CCONJ
cblr-1711	380	38	econ	econ	PROPN
cblr-1711	380	39	.	.	PROPN
cblr-1711	381	1	149	149	NUM
cblr-1711	381	2	(	(	PUNCT
cblr-1711	381	3	2003	2003	NUM
cblr-1711	381	4	)	)	PUNCT
cblr-1711	381	5	;	;	PUNCT
cblr-1711	382	1	alastair	alastair	PROPN
cblr-1711	382	2	lawrence	lawrence	PROPN
cblr-1711	382	3	,	,	PUNCT
cblr-1711	382	4	individual	individual	ADJ
cblr-1711	382	5	investors	investor	NOUN
cblr-1711	382	6	and	and	CCONJ
cblr-1711	382	7	financial	financial	ADJ
cblr-1711	382	8	disclosure	disclosure	NOUN
cblr-1711	382	9	,	,	PUNCT
cblr-1711	382	10	56	56	NUM
cblr-1711	382	11	j.	j.	PROPN
cblr-1711	382	12	acct	acct	PROPN
cblr-1711	382	13	.	.	PROPN
cblr-1711	382	14	&	&	CCONJ
cblr-1711	382	15	econ	econ	PROPN
cblr-1711	382	16	.	.	PUNCT
cblr-1711	383	1	130	130	NUM
cblr-1711	383	2	(	(	PUNCT
cblr-1711	383	3	2013	2013	NUM
cblr-1711	383	4	)	)	PUNCT
cblr-1711	383	5	;	;	PUNCT
cblr-1711	383	6	brian	brian	PROPN
cblr-1711	383	7	p.	p.	PROPN
cblr-1711	383	8	miller	miller	PROPN
cblr-1711	383	9	,	,	PUNCT
cblr-1711	383	10	the	the	DET
cblr-1711	383	11	effects	effect	NOUN
cblr-1711	383	12	of	of	ADP
cblr-1711	383	13	reporting	report	VERB
cblr-1711	383	14	complexity	complexity	NOUN
cblr-1711	383	15	on	on	ADP
cblr-1711	383	16	small	small	ADJ
cblr-1711	383	17	and	and	CCONJ
cblr-1711	383	18	large	large	ADJ
cblr-1711	383	19	investor	investor	NOUN
cblr-1711	383	20	trading	trading	NOUN
cblr-1711	383	21	,	,	PUNCT
cblr-1711	383	22	85	85	NUM
cblr-1711	383	23	acct	acct	NOUN
cblr-1711	383	24	.	.	PUNCT
cblr-1711	384	1	rev	rev	PROPN
cblr-1711	384	2	.	.	PROPN
cblr-1711	384	3	2107	2107	NUM
cblr-1711	384	4	(	(	PUNCT
cblr-1711	384	5	2010	2010	NUM
cblr-1711	384	6	)	)	PUNCT
cblr-1711	384	7	)	)	PUNCT
cblr-1711	384	8	.	.	PUNCT
cblr-1711	385	1	169	169	NUM
cblr-1711	386	1	i	i	PRON
cblr-1711	386	2	d.	d.	NOUN
cblr-1711	386	3	at	at	ADP
cblr-1711	386	4	296	296	NUM
cblr-1711	386	5	.	.	PUNCT
cblr-1711	387	1	170	170	NUM
cblr-1711	388	1	i	i	PRON
cblr-1711	388	2	d.	d.	PROPN
cblr-1711	388	3	at	at	ADP
cblr-1711	388	4	296	296	NUM
cblr-1711	388	5	.	.	PUNCT
cblr-1711	389	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	389	2	1092	1092	NUM
cblr-1711	389	3	columbia	columbia	PROPN
cblr-1711	389	4	business	business	NOUN
cblr-1711	389	5	law	law	PROPN
cblr-1711	389	6	review	review	NOUN
cblr-1711	389	7	[	[	X
cblr-1711	389	8	vol	vol	NOUN
cblr-1711	389	9	.	.	NOUN
cblr-1711	389	10	2018	2018	NUM
cblr-1711	389	11	can	can	AUX
cblr-1711	389	12	address	address	VERB
cblr-1711	389	13	this	this	DET
cblr-1711	389	14	disadvantage	disadvantage	NOUN
cblr-1711	389	15	but	but	CCONJ
cblr-1711	389	16	is	be	AUX
cblr-1711	389	17	“	"	PUNCT
cblr-1711	389	18	not	not	PART
cblr-1711	389	19	the	the	DET
cblr-1711	389	20	only	only	ADJ
cblr-1711	389	21	mechanism	mechanism	NOUN
cblr-1711	389	22	available	available	ADJ
cblr-1711	389	23	to	to	PART
cblr-1711	389	24	address	address	VERB
cblr-1711	389	25	these	these	DET
cblr-1711	389	26	information	information	NOUN
cblr-1711	389	27	asymmetries	asymmetry	NOUN
cblr-1711	389	28	.	.	PUNCT
cblr-1711	389	29	”171	”171	PROPN
cblr-1711	390	1	as	as	SCONJ
cblr-1711	390	2	described	describe	VERB
cblr-1711	390	3	supra	supra	PROPN
cblr-1711	390	4	section	section	PROPN
cblr-1711	390	5	iii.b	iii.b	PROPN
cblr-1711	390	6	,	,	PUNCT
cblr-1711	390	7	the	the	DET
cblr-1711	390	8	crowdfunding	crowdfunding	NOUN
cblr-1711	390	9	provision	provision	NOUN
cblr-1711	390	10	primarily	primarily	ADV
cblr-1711	390	11	focuses	focus	VERB
cblr-1711	390	12	on	on	ADP
cblr-1711	390	13	investor	investor	NOUN
cblr-1711	390	14	protection	protection	NOUN
cblr-1711	390	15	by	by	ADP
cblr-1711	390	16	requiring	require	VERB
cblr-1711	390	17	the	the	DET
cblr-1711	390	18	intermediary	intermediary	NOUN
cblr-1711	390	19	to	to	PART
cblr-1711	390	20	ensure	ensure	VERB
cblr-1711	390	21	the	the	DET
cblr-1711	390	22	investor	investor	NOUN
cblr-1711	390	23	does	do	AUX
cblr-1711	390	24	not	not	PART
cblr-1711	390	25	invest	invest	VERB
cblr-1711	390	26	beyond	beyond	ADP
cblr-1711	390	27	his	his	PRON
cblr-1711	390	28	or	or	CCONJ
cblr-1711	390	29	her	her	PRON
cblr-1711	390	30	means.172	means.172	NOUN
cblr-1711	390	31	the	the	DET
cblr-1711	390	32	burden	burden	NOUN
cblr-1711	390	33	is	be	AUX
cblr-1711	390	34	placed	place	VERB
cblr-1711	390	35	on	on	ADP
cblr-1711	390	36	the	the	DET
cblr-1711	390	37	intermediary	intermediary	NOUN
cblr-1711	390	38	not	not	PART
cblr-1711	390	39	only	only	ADV
cblr-1711	390	40	to	to	PART
cblr-1711	390	41	verify	verify	VERB
cblr-1711	390	42	the	the	DET
cblr-1711	390	43	investor	investor	NOUN
cblr-1711	390	44	’s	’s	PART
cblr-1711	390	45	activity	activity	NOUN
cblr-1711	390	46	,	,	PUNCT
cblr-1711	390	47	but	but	CCONJ
cblr-1711	390	48	also	also	ADV
cblr-1711	390	49	to	to	PART
cblr-1711	390	50	ensure	ensure	VERB
cblr-1711	390	51	that	that	SCONJ
cblr-1711	390	52	the	the	DET
cblr-1711	390	53	issuer	issuer	NOUN
cblr-1711	390	54	is	be	AUX
cblr-1711	390	55	credible	credible	ADJ
cblr-1711	390	56	.	.	PUNCT
cblr-1711	391	1	in	in	ADP
cblr-1711	391	2	contrast	contrast	NOUN
cblr-1711	391	3	to	to	ADP
cblr-1711	391	4	intermediary	intermediary	ADJ
cblr-1711	391	5	enforcement	enforcement	NOUN
cblr-1711	391	6	,	,	PUNCT
cblr-1711	391	7	increasing	increase	VERB
cblr-1711	391	8	issuer	issuer	ADJ
cblr-1711	391	9	transparency	transparency	NOUN
cblr-1711	391	10	and	and	CCONJ
cblr-1711	391	11	disclosure	disclosure	NOUN
cblr-1711	391	12	is	be	AUX
cblr-1711	391	13	another	another	DET
cblr-1711	391	14	option	option	NOUN
cblr-1711	391	15	to	to	PART
cblr-1711	391	16	protect	protect	VERB
cblr-1711	391	17	crowdfunding	crowdfunde	VERB
cblr-1711	391	18	investors	investor	NOUN
cblr-1711	391	19	.	.	PUNCT
cblr-1711	392	1	section	section	NOUN
cblr-1711	392	2	302	302	NUM
cblr-1711	392	3	of	of	ADP
cblr-1711	392	4	the	the	DET
cblr-1711	392	5	jobs	job	NOUN
cblr-1711	392	6	act	act	NOUN
cblr-1711	392	7	mandates	mandate	VERB
cblr-1711	392	8	certain	certain	ADJ
cblr-1711	392	9	issuer	issuer	ADJ
cblr-1711	392	10	disclosures	disclosure	NOUN
cblr-1711	392	11	,	,	PUNCT
cblr-1711	392	12	but	but	CCONJ
cblr-1711	392	13	the	the	DET
cblr-1711	392	14	disclosures	disclosure	NOUN
cblr-1711	392	15	are	be	AUX
cblr-1711	392	16	mainly	mainly	ADV
cblr-1711	392	17	descriptive	descriptive	ADJ
cblr-1711	392	18	of	of	ADP
cblr-1711	392	19	the	the	DET
cblr-1711	392	20	issuer	issuer	NOUN
cblr-1711	392	21	’s	’s	PART
cblr-1711	392	22	current	current	ADJ
cblr-1711	392	23	financial	financial	ADJ
cblr-1711	392	24	condition	condition	NOUN
cblr-1711	392	25	and	and	CCONJ
cblr-1711	392	26	intended	intend	VERB
cblr-1711	392	27	uses	use	NOUN
cblr-1711	392	28	for	for	SCONJ
cblr-1711	392	29	the	the	DET
cblr-1711	392	30	funds	fund	NOUN
cblr-1711	392	31	to	to	PART
cblr-1711	392	32	be	be	AUX
cblr-1711	392	33	raised.173	raised.173	NOUN
cblr-1711	392	34	ownership	ownership	NOUN
cblr-1711	392	35	and	and	CCONJ
cblr-1711	392	36	capital	capital	NOUN
cblr-1711	392	37	structure	structure	NOUN
cblr-1711	392	38	disclosures	disclosure	NOUN
cblr-1711	392	39	describe	describe	VERB
cblr-1711	392	40	the	the	DET
cblr-1711	392	41	securities	security	NOUN
cblr-1711	392	42	themselves	themselves	PRON
cblr-1711	392	43	,	,	PUNCT
cblr-1711	392	44	their	their	PRON
cblr-1711	392	45	valuation	valuation	NOUN
cblr-1711	392	46	,	,	PUNCT
cblr-1711	392	47	and	and	CCONJ
cblr-1711	392	48	the	the	DET
cblr-1711	392	49	risks	risk	NOUN
cblr-1711	392	50	to	to	ADP
cblr-1711	392	51	“	"	PUNCT
cblr-1711	392	52	purchasers	purchaser	NOUN
cblr-1711	392	53	of	of	ADP
cblr-1711	392	54	the	the	DET
cblr-1711	392	55	securities	security	NOUN
cblr-1711	392	56	relating	relate	VERB
cblr-1711	392	57	to	to	ADP
cblr-1711	392	58	minority	minority	NOUN
cblr-1711	392	59	ownership	ownership	NOUN
cblr-1711	392	60	in	in	ADP
cblr-1711	392	61	the	the	DET
cblr-1711	392	62	issuer	issuer	NOUN
cblr-1711	392	63	and	and	CCONJ
cblr-1711	392	64	future	future	ADJ
cblr-1711	392	65	corporate	corporate	ADJ
cblr-1711	392	66	actions	action	NOUN
cblr-1711	392	67	,	,	PUNCT
cblr-1711	392	68	including	include	VERB
cblr-1711	392	69	additional	additional	ADJ
cblr-1711	392	70	share	share	NOUN
cblr-1711	392	71	issuances	issuance	NOUN
cblr-1711	392	72	,	,	PUNCT
cblr-1711	392	73	a	a	DET
cblr-1711	392	74	sale	sale	NOUN
cblr-1711	392	75	of	of	ADP
cblr-1711	392	76	the	the	DET
cblr-1711	392	77	issuer	issuer	NOUN
cblr-1711	392	78	or	or	CCONJ
cblr-1711	392	79	transactions	transaction	NOUN
cblr-1711	392	80	with	with	ADP
cblr-1711	392	81	related	related	ADJ
cblr-1711	392	82	parties	party	NOUN
cblr-1711	392	83	.	.	PUNCT
cblr-1711	393	1	”174	”174	VERB
cblr-1711	393	2	missing	miss	VERB
cblr-1711	393	3	from	from	ADP
cblr-1711	393	4	the	the	DET
cblr-1711	393	5	disclosure	disclosure	NOUN
cblr-1711	393	6	requirements	requirement	NOUN
cblr-1711	393	7	,	,	PUNCT
cblr-1711	393	8	however	however	ADV
cblr-1711	393	9	,	,	PUNCT
cblr-1711	393	10	are	be	AUX
cblr-1711	393	11	any	any	DET
cblr-1711	393	12	details	detail	NOUN
cblr-1711	393	13	of	of	ADP
cblr-1711	393	14	the	the	DET
cblr-1711	393	15	actual	actual	ADJ
cblr-1711	393	16	achievements	achievement	NOUN
cblr-1711	393	17	and	and	CCONJ
cblr-1711	393	18	potential	potential	ADJ
cblr-1711	393	19	success	success	NOUN
cblr-1711	393	20	of	of	ADP
cblr-1711	393	21	the	the	DET
cblr-1711	393	22	venture	venture	NOUN
cblr-1711	393	23	.	.	PUNCT
cblr-1711	394	1	because	because	SCONJ
cblr-1711	394	2	this	this	DET
cblr-1711	394	3	kind	kind	NOUN
cblr-1711	394	4	of	of	ADP
cblr-1711	394	5	information	information	NOUN
cblr-1711	394	6	might	might	AUX
cblr-1711	394	7	occur	occur	VERB
cblr-1711	394	8	in	in	ADP
cblr-1711	394	9	the	the	DET
cblr-1711	394	10	ordinary	ordinary	ADJ
cblr-1711	394	11	course	course	NOUN
cblr-1711	394	12	of	of	ADP
cblr-1711	394	13	business	business	NOUN
cblr-1711	394	14	,	,	PUNCT
cblr-1711	394	15	entrepreneurs	entrepreneur	NOUN
cblr-1711	394	16	can	can	AUX
cblr-1711	394	17	communicate	communicate	VERB
cblr-1711	394	18	it	it	PRON
cblr-1711	394	19	with	with	ADP
cblr-1711	394	20	the	the	DET
cblr-1711	394	21	public	public	NOUN
cblr-1711	394	22	through	through	ADP
cblr-1711	394	23	social	social	ADJ
cblr-1711	394	24	media	medium	NOUN
cblr-1711	394	25	or	or	CCONJ
cblr-1711	394	26	other	other	ADJ
cblr-1711	394	27	means	mean	NOUN
cblr-1711	394	28	outside	outside	ADP
cblr-1711	394	29	of	of	ADP
cblr-1711	394	30	the	the	DET
cblr-1711	394	31	intermediary	intermediary	NOUN
cblr-1711	394	32	’s	’s	PART
cblr-1711	394	33	platform	platform	NOUN
cblr-1711	394	34	,	,	PUNCT
cblr-1711	394	35	without	without	ADP
cblr-1711	394	36	violating	violate	VERB
cblr-1711	394	37	the	the	DET
cblr-1711	394	38	advertising	advertising	NOUN
cblr-1711	394	39	prohibition	prohibition	NOUN
cblr-1711	394	40	,	,	PUNCT
cblr-1711	394	41	so	so	ADV
cblr-1711	394	42	long	long	ADV
cblr-1711	394	43	as	as	SCONJ
cblr-1711	394	44	the	the	DET
cblr-1711	394	45	communication	communication	NOUN
cblr-1711	394	46	does	do	AUX
cblr-1711	394	47	not	not	PART
cblr-1711	394	48	refer	refer	VERB
cblr-1711	394	49	to	to	ADP
cblr-1711	394	50	the	the	DET
cblr-1711	394	51	terms	term	NOUN
cblr-1711	394	52	of	of	ADP
cblr-1711	394	53	the	the	DET
cblr-1711	394	54	offering.175	offering.175	NOUN
cblr-1711	394	55	while	while	SCONJ
cblr-1711	394	56	entrepreneurs	entrepreneur	NOUN
cblr-1711	394	57	may	may	AUX
cblr-1711	394	58	be	be	AUX
cblr-1711	394	59	incentivized	incentivize	VERB
cblr-1711	394	60	to	to	PART
cblr-1711	394	61	disclose	disclose	VERB
cblr-1711	394	62	this	this	DET
cblr-1711	394	63	information	information	NOUN
cblr-1711	394	64	in	in	ADP
cblr-1711	394	65	order	order	NOUN
cblr-1711	394	66	to	to	PART
cblr-1711	394	67	attract	attract	VERB
cblr-1711	394	68	funding	funding	NOUN
cblr-1711	394	69	,	,	PUNCT
cblr-1711	394	70	fear	fear	NOUN
cblr-1711	394	71	of	of	ADP
cblr-1711	394	72	competitors	competitor	NOUN
cblr-1711	394	73	appropriating	appropriate	VERB
cblr-1711	394	74	any	any	DET
cblr-1711	394	75	disclosures	disclosure	NOUN
cblr-1711	394	76	could	could	AUX
cblr-1711	394	77	nonetheless	nonetheless	ADV
cblr-1711	394	78	drive	drive	VERB
cblr-1711	394	79	entrepreneurs	entrepreneur	NOUN
cblr-1711	394	80	to	to	PART
cblr-1711	394	81	stay	stay	VERB
cblr-1711	394	82	silent	silent	ADJ
cblr-1711	394	83	.	.	PUNCT
cblr-1711	395	1	startups	startup	NOUN
cblr-1711	395	2	,	,	PUNCT
cblr-1711	395	3	often	often	ADV
cblr-1711	395	4	not	not	PART
cblr-1711	395	5	advised	advise	VERB
cblr-1711	395	6	by	by	ADP
cblr-1711	395	7	171	171	NUM
cblr-1711	396	1	i	i	PROPN
cblr-1711	396	2	d.	d.	PROPN
cblr-1711	396	3	at	at	ADP
cblr-1711	396	4	297	297	NUM
cblr-1711	396	5	.	.	PUNCT
cblr-1711	397	1	172	172	NUM
cblr-1711	397	2	see	see	VERB
cblr-1711	397	3	supra	supra	ADJ
cblr-1711	397	4	text	text	NOUN
cblr-1711	397	5	accompanying	accompany	VERB
cblr-1711	397	6	notes	note	NOUN
cblr-1711	397	7	127–138	127–138	NUM
cblr-1711	397	8	.	.	PUNCT
cblr-1711	398	1	173	173	NUM
cblr-1711	398	2	jumpstart	jumpstart	VERB
cblr-1711	398	3	our	our	PRON
cblr-1711	398	4	business	business	NOUN
cblr-1711	398	5	startups	startup	NOUN
cblr-1711	398	6	act	act	PROPN
cblr-1711	398	7	,	,	PUNCT
cblr-1711	398	8	pub	pub	NOUN
cblr-1711	398	9	.	.	PUNCT
cblr-1711	399	1	l.	l.	PROPN
cblr-1711	399	2	no	no	INTJ
cblr-1711	399	3	.	.	PROPN
cblr-1711	400	1	112	112	NUM
cblr-1711	400	2	-	-	SYM
cblr-1711	400	3	106	106	NUM
cblr-1711	400	4	,	,	PUNCT
cblr-1711	400	5	§	§	PROPN
cblr-1711	400	6	302	302	NUM
cblr-1711	400	7	,	,	PUNCT
cblr-1711	400	8	126	126	NUM
cblr-1711	400	9	stat	stat	NOUN
cblr-1711	400	10	.	.	PUNCT
cblr-1711	401	1	306	306	NUM
cblr-1711	401	2	,	,	PUNCT
cblr-1711	401	3	315–21	315–21	PROPN
cblr-1711	401	4	(	(	PUNCT
cblr-1711	401	5	2012	2012	NUM
cblr-1711	401	6	)	)	PUNCT
cblr-1711	401	7	(	(	PUNCT
cblr-1711	401	8	codified	codify	VERB
cblr-1711	401	9	as	as	SCONJ
cblr-1711	401	10	amended	amend	VERB
cblr-1711	401	11	in	in	ADP
cblr-1711	401	12	scattered	scatter	VERB
cblr-1711	401	13	sections	section	NOUN
cblr-1711	401	14	of	of	ADP
cblr-1711	401	15	15	15	NUM
cblr-1711	401	16	u.s.c	u.s.c	ADJ
cblr-1711	401	17	.	.	PUNCT
cblr-1711	401	18	)	)	PUNCT
cblr-1711	401	19	;	;	PUNCT
cblr-1711	401	20	see	see	VERB
cblr-1711	401	21	also	also	ADV
cblr-1711	401	22	supra	supra	PROPN
cblr-1711	401	23	notes	note	VERB
cblr-1711	401	24	61–64	61–64	NUM
cblr-1711	401	25	and	and	CCONJ
cblr-1711	401	26	accompanying	accompany	VERB
cblr-1711	401	27	text	text	NOUN
cblr-1711	401	28	.	.	PUNCT
cblr-1711	402	1	174	174	NUM
cblr-1711	402	2	jobs	job	NOUN
cblr-1711	402	3	act	act	NOUN
cblr-1711	402	4	:	:	PUNCT
cblr-1711	402	5	crowdfunding	crowdfunde	VERB
cblr-1711	402	6	summary	summary	NOUN
cblr-1711	402	7	,	,	PUNCT
cblr-1711	402	8	supra	supra	PROPN
cblr-1711	402	9	note	note	VERB
cblr-1711	402	10	158	158	NUM
cblr-1711	402	11	.	.	PUNCT
cblr-1711	403	1	175	175	NUM
cblr-1711	403	2	see	see	VERB
cblr-1711	403	3	crowdfunding	crowdfunding	NOUN
cblr-1711	403	4	,	,	PUNCT
cblr-1711	403	5	80	80	NUM
cblr-1711	403	6	fed	feed	VERB
cblr-1711	403	7	.	.	PUNCT
cblr-1711	404	1	reg	reg	NOUN
cblr-1711	404	2	.	.	PUNCT
cblr-1711	405	1	71	71	NUM
cblr-1711	405	2	,	,	PUNCT
cblr-1711	405	3	387	387	NUM
cblr-1711	405	4	,	,	PUNCT
cblr-1711	405	5	71,424–25	71,424–25	NUM
cblr-1711	405	6	(	(	PUNCT
cblr-1711	405	7	may	may	PROPN
cblr-1711	405	8	16	16	NUM
cblr-1711	405	9	,	,	PUNCT
cblr-1711	405	10	2015	2015	NUM
cblr-1711	405	11	)	)	PUNCT
cblr-1711	405	12	(	(	PUNCT
cblr-1711	405	13	to	to	PART
cblr-1711	405	14	be	be	AUX
cblr-1711	405	15	codified	codify	VERB
cblr-1711	405	16	at	at	ADP
cblr-1711	405	17	17	17	NUM
cblr-1711	405	18	c.f.r	c.f.r	NOUN
cblr-1711	405	19	.	.	PUNCT
cblr-1711	406	1	pt	pt	PROPN
cblr-1711	406	2	.	.	PROPN
cblr-1711	406	3	200	200	NUM
cblr-1711	406	4	,	,	PUNCT
cblr-1711	406	5	227	227	NUM
cblr-1711	406	6	,	,	PUNCT
cblr-1711	406	7	232	232	NUM
cblr-1711	406	8	,	,	PUNCT
cblr-1711	406	9	239	239	NUM
cblr-1711	406	10	,	,	PUNCT
cblr-1711	406	11	240	240	NUM
cblr-1711	406	12	,	,	PUNCT
cblr-1711	406	13	249	249	NUM
cblr-1711	406	14	,	,	PUNCT
cblr-1711	406	15	269	269	NUM
cblr-1711	406	16	,	,	PUNCT
cblr-1711	406	17	274	274	NUM
cblr-1711	406	18	)	)	PUNCT
cblr-1711	406	19	.	.	PUNCT
cblr-1711	407	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	407	2	no	no	NOUN
cblr-1711	407	3	.	.	NOUN
cblr-1711	408	1	3:1060	3:1060	NUM
cblr-1711	408	2	]	]	X
cblr-1711	408	3	biotech	biotech	NOUN
cblr-1711	408	4	crowdfunding	crowdfunde	VERB
cblr-1711	408	5	1093	1093	NUM
cblr-1711	408	6	legal	legal	ADJ
cblr-1711	408	7	counsel	counsel	NOUN
cblr-1711	408	8	,	,	PUNCT
cblr-1711	408	9	may	may	AUX
cblr-1711	408	10	also	also	ADV
cblr-1711	408	11	withhold	withhold	VERB
cblr-1711	408	12	this	this	DET
cblr-1711	408	13	information	information	NOUN
cblr-1711	408	14	for	for	ADP
cblr-1711	408	15	fear	fear	NOUN
cblr-1711	408	16	of	of	ADP
cblr-1711	408	17	liability	liability	NOUN
cblr-1711	408	18	attaching	attach	VERB
cblr-1711	408	19	when	when	SCONJ
cblr-1711	408	20	disclosing	disclose	VERB
cblr-1711	408	21	certain	certain	ADJ
cblr-1711	408	22	positive	positive	ADJ
cblr-1711	408	23	or	or	CCONJ
cblr-1711	408	24	forwardlooking	forwardlooke	VERB
cblr-1711	408	25	information	information	NOUN
cblr-1711	408	26	without	without	ADP
cblr-1711	408	27	appropriately	appropriately	ADV
cblr-1711	408	28	disclosing	disclose	VERB
cblr-1711	408	29	the	the	DET
cblr-1711	408	30	associated	associated	ADJ
cblr-1711	408	31	risks	risk	NOUN
cblr-1711	408	32	.	.	PUNCT
cblr-1711	409	1	lastly	lastly	ADV
cblr-1711	409	2	,	,	PUNCT
cblr-1711	409	3	instances	instance	NOUN
cblr-1711	409	4	of	of	ADP
cblr-1711	409	5	issuer	issuer	NOUN
cblr-1711	409	6	fraud	fraud	NOUN
cblr-1711	409	7	,	,	PUNCT
cblr-1711	409	8	such	such	ADJ
cblr-1711	409	9	as	as	ADP
cblr-1711	409	10	theranos	therano	NOUN
cblr-1711	409	11	,	,	PUNCT
cblr-1711	409	12	show	show	VERB
cblr-1711	409	13	that	that	SCONJ
cblr-1711	409	14	veils	veil	NOUN
cblr-1711	409	15	of	of	ADP
cblr-1711	409	16	secrecy	secrecy	NOUN
cblr-1711	409	17	and	and	CCONJ
cblr-1711	409	18	public	public	ADJ
cblr-1711	409	19	hype	hype	NOUN
cblr-1711	409	20	are	be	AUX
cblr-1711	409	21	enough	enough	ADJ
cblr-1711	409	22	to	to	PART
cblr-1711	409	23	draw	draw	VERB
cblr-1711	409	24	substantial	substantial	ADJ
cblr-1711	409	25	funding	funding	NOUN
cblr-1711	409	26	without	without	ADP
cblr-1711	409	27	open	open	ADJ
cblr-1711	409	28	and	and	CCONJ
cblr-1711	409	29	honest	honest	ADJ
cblr-1711	409	30	disclosure	disclosure	NOUN
cblr-1711	409	31	.	.	PUNCT
cblr-1711	410	1	this	this	DET
cblr-1711	410	2	note	note	NOUN
cblr-1711	410	3	proposes	propose	VERB
cblr-1711	410	4	that	that	SCONJ
cblr-1711	410	5	biotech	biotech	ADJ
cblr-1711	410	6	crowdfunding	crowdfunding	NOUN
cblr-1711	410	7	,	,	PUNCT
cblr-1711	410	8	with	with	ADP
cblr-1711	410	9	its	its	PRON
cblr-1711	410	10	unique	unique	ADJ
cblr-1711	410	11	challenges	challenge	NOUN
cblr-1711	410	12	of	of	ADP
cblr-1711	410	13	obtaining	obtain	VERB
cblr-1711	410	14	investment	investment	NOUN
cblr-1711	410	15	alongside	alongside	ADP
cblr-1711	410	16	regulatory	regulatory	ADJ
cblr-1711	410	17	approval	approval	NOUN
cblr-1711	410	18	and	and	CCONJ
cblr-1711	410	19	heightened	heightened	ADJ
cblr-1711	410	20	information	information	NOUN
cblr-1711	410	21	asymmetry	asymmetry	NOUN
cblr-1711	410	22	,	,	PUNCT
cblr-1711	410	23	utilize	utilize	VERB
cblr-1711	410	24	other	other	ADJ
cblr-1711	410	25	areas	area	NOUN
cblr-1711	410	26	of	of	ADP
cblr-1711	410	27	the	the	DET
cblr-1711	410	28	law	law	NOUN
cblr-1711	410	29	outside	outside	ADP
cblr-1711	410	30	of	of	ADP
cblr-1711	410	31	securities	security	NOUN
cblr-1711	410	32	law	law	NOUN
cblr-1711	410	33	to	to	PART
cblr-1711	410	34	better	well	ADV
cblr-1711	410	35	protect	protect	VERB
cblr-1711	410	36	investors	investor	NOUN
cblr-1711	410	37	.	.	PUNCT
cblr-1711	411	1	mandating	mandate	VERB
cblr-1711	411	2	disclosure	disclosure	NOUN
cblr-1711	411	3	of	of	ADP
cblr-1711	411	4	fda	fda	PROPN
cblr-1711	411	5	and	and	CCONJ
cblr-1711	411	6	patent	patent	NOUN
cblr-1711	411	7	milestones	milestone	NOUN
cblr-1711	411	8	on	on	ADP
cblr-1711	411	9	the	the	DET
cblr-1711	411	10	intermediary	intermediary	NOUN
cblr-1711	411	11	’s	’s	PART
cblr-1711	411	12	platform	platform	NOUN
cblr-1711	411	13	can	can	AUX
cblr-1711	411	14	provide	provide	VERB
cblr-1711	411	15	easily	easily	ADV
cblr-1711	411	16	understandable	understandable	ADJ
cblr-1711	411	17	and	and	CCONJ
cblr-1711	411	18	accessible	accessible	ADJ
cblr-1711	411	19	information	information	NOUN
cblr-1711	411	20	to	to	ADP
cblr-1711	411	21	unsophisticated	unsophisticated	ADJ
cblr-1711	411	22	investors	investor	NOUN
cblr-1711	411	23	and	and	CCONJ
cblr-1711	411	24	help	help	VERB
cblr-1711	411	25	them	they	PRON
cblr-1711	411	26	make	make	VERB
cblr-1711	411	27	more	more	ADV
cblr-1711	411	28	informed	informed	ADJ
cblr-1711	411	29	decisions	decision	NOUN
cblr-1711	411	30	prior	prior	ADV
cblr-1711	411	31	to	to	ADP
cblr-1711	411	32	investment	investment	NOUN
cblr-1711	411	33	.	.	PUNCT
cblr-1711	412	1	by	by	ADP
cblr-1711	412	2	hosting	host	VERB
cblr-1711	412	3	this	this	DET
cblr-1711	412	4	information	information	NOUN
cblr-1711	412	5	on	on	ADP
cblr-1711	412	6	the	the	DET
cblr-1711	412	7	intermediary	intermediary	NOUN
cblr-1711	412	8	’s	’s	PART
cblr-1711	412	9	platform	platform	NOUN
cblr-1711	412	10	,	,	PUNCT
cblr-1711	412	11	all	all	DET
cblr-1711	412	12	issuer	issuer	ADJ
cblr-1711	412	13	disclosures	disclosure	NOUN
cblr-1711	412	14	are	be	AUX
cblr-1711	412	15	provided	provide	VERB
cblr-1711	412	16	in	in	ADP
cblr-1711	412	17	a	a	DET
cblr-1711	412	18	centralized	centralized	ADJ
cblr-1711	412	19	location	location	NOUN
cblr-1711	412	20	viewable	viewable	NOUN
cblr-1711	412	21	to	to	ADP
cblr-1711	412	22	anyone	anyone	PRON
cblr-1711	412	23	seeking	seek	VERB
cblr-1711	412	24	to	to	PART
cblr-1711	412	25	invest	invest	VERB
cblr-1711	412	26	in	in	ADP
cblr-1711	412	27	the	the	DET
cblr-1711	412	28	offering	offering	NOUN
cblr-1711	412	29	.	.	PUNCT
cblr-1711	413	1	further	far	ADV
cblr-1711	413	2	,	,	PUNCT
cblr-1711	413	3	limiting	limit	VERB
cblr-1711	413	4	disclosure	disclosure	NOUN
cblr-1711	413	5	to	to	ADP
cblr-1711	413	6	checkboxes	checkboxe	NOUN
cblr-1711	413	7	and	and	CCONJ
cblr-1711	413	8	brief	brief	ADJ
cblr-1711	413	9	explanations	explanation	NOUN
cblr-1711	413	10	and	and	CCONJ
cblr-1711	413	11	disclaimers	disclaimer	NOUN
cblr-1711	413	12	noting	note	VERB
cblr-1711	413	13	whether	whether	SCONJ
cblr-1711	413	14	milestones	milestone	NOUN
cblr-1711	413	15	were	be	AUX
cblr-1711	413	16	achieved	achieve	VERB
cblr-1711	413	17	can	can	AUX
cblr-1711	413	18	reduce	reduce	VERB
cblr-1711	413	19	the	the	DET
cblr-1711	413	20	potential	potential	NOUN
cblr-1711	413	21	for	for	ADP
cblr-1711	413	22	disclosure	disclosure	NOUN
cblr-1711	413	23	overload	overload	NOUN
cblr-1711	413	24	as	as	ADV
cblr-1711	413	25	well	well	ADV
cblr-1711	413	26	as	as	ADP
cblr-1711	413	27	misleading	misleading	ADJ
cblr-1711	413	28	hype	hype	NOUN
cblr-1711	413	29	.	.	PUNCT
cblr-1711	414	1	b.	b.	PROPN
cblr-1711	414	2	disclosure	disclosure	NOUN
cblr-1711	414	3	requirements	requirement	NOUN
cblr-1711	414	4	relating	relate	VERB
cblr-1711	414	5	to	to	ADP
cblr-1711	414	6	fda	fda	PROPN
cblr-1711	414	7	approvals	approval	VERB
cblr-1711	414	8	the	the	DET
cblr-1711	414	9	success	success	NOUN
cblr-1711	414	10	of	of	ADP
cblr-1711	414	11	biotech	biotech	ADJ
cblr-1711	414	12	ventures	venture	NOUN
cblr-1711	414	13	is	be	AUX
cblr-1711	414	14	distinctive	distinctive	ADJ
cblr-1711	414	15	compared	compare	VERB
cblr-1711	414	16	to	to	ADP
cblr-1711	414	17	companies	company	NOUN
cblr-1711	414	18	in	in	ADP
cblr-1711	414	19	other	other	ADJ
cblr-1711	414	20	industries	industry	NOUN
cblr-1711	414	21	,	,	PUNCT
cblr-1711	414	22	as	as	SCONJ
cblr-1711	414	23	it	it	PRON
cblr-1711	414	24	not	not	PART
cblr-1711	414	25	only	only	ADV
cblr-1711	414	26	depends	depend	VERB
cblr-1711	414	27	on	on	ADP
cblr-1711	414	28	market	market	NOUN
cblr-1711	414	29	interest	interest	NOUN
cblr-1711	414	30	and	and	CCONJ
cblr-1711	414	31	uptake	uptake	ADJ
cblr-1711	414	32	,	,	PUNCT
cblr-1711	414	33	but	but	CCONJ
cblr-1711	414	34	is	be	AUX
cblr-1711	414	35	also	also	ADV
cblr-1711	414	36	highly	highly	ADV
cblr-1711	414	37	contingent	contingent	ADJ
cblr-1711	414	38	on	on	ADP
cblr-1711	414	39	regulatory	regulatory	ADJ
cblr-1711	414	40	approval	approval	NOUN
cblr-1711	414	41	.	.	PUNCT
cblr-1711	415	1	while	while	SCONJ
cblr-1711	415	2	the	the	DET
cblr-1711	415	3	need	need	NOUN
cblr-1711	415	4	for	for	ADP
cblr-1711	415	5	approval	approval	NOUN
cblr-1711	415	6	can	can	AUX
cblr-1711	415	7	serve	serve	VERB
cblr-1711	415	8	as	as	ADP
cblr-1711	415	9	the	the	DET
cblr-1711	415	10	main	main	ADJ
cblr-1711	415	11	reason	reason	NOUN
cblr-1711	415	12	why	why	SCONJ
cblr-1711	415	13	many	many	ADJ
cblr-1711	415	14	ventures	venture	NOUN
cblr-1711	415	15	fail	fail	VERB
cblr-1711	415	16	,	,	PUNCT
cblr-1711	415	17	regulations	regulation	NOUN
cblr-1711	415	18	not	not	PART
cblr-1711	415	19	only	only	ADV
cblr-1711	415	20	protect	protect	VERB
cblr-1711	415	21	the	the	DET
cblr-1711	415	22	public	public	NOUN
cblr-1711	415	23	from	from	ADP
cblr-1711	415	24	harmful	harmful	ADJ
cblr-1711	415	25	or	or	CCONJ
cblr-1711	415	26	inaccurate	inaccurate	ADJ
cblr-1711	415	27	products	product	NOUN
cblr-1711	415	28	,	,	PUNCT
cblr-1711	415	29	but	but	CCONJ
cblr-1711	415	30	also	also	ADV
cblr-1711	415	31	signal	signal	VERB
cblr-1711	415	32	to	to	ADP
cblr-1711	415	33	potential	potential	ADJ
cblr-1711	415	34	investors	investor	NOUN
cblr-1711	415	35	the	the	DET
cblr-1711	415	36	quality	quality	NOUN
cblr-1711	415	37	and	and	CCONJ
cblr-1711	415	38	probability	probability	NOUN
cblr-1711	415	39	of	of	ADP
cblr-1711	415	40	commercial	commercial	ADJ
cblr-1711	415	41	success	success	NOUN
cblr-1711	415	42	.	.	PUNCT
cblr-1711	416	1	developers	developer	NOUN
cblr-1711	416	2	of	of	ADP
cblr-1711	416	3	both	both	CCONJ
cblr-1711	416	4	medical	medical	ADJ
cblr-1711	416	5	drugs	drug	NOUN
cblr-1711	416	6	and	and	CCONJ
cblr-1711	416	7	devices	device	NOUN
cblr-1711	416	8	must	must	AUX
cblr-1711	416	9	reach	reach	VERB
cblr-1711	416	10	clear	clear	ADJ
cblr-1711	416	11	goalposts	goalpost	NOUN
cblr-1711	416	12	before	before	SCONJ
cblr-1711	416	13	their	their	PRON
cblr-1711	416	14	products	product	NOUN
cblr-1711	416	15	can	can	AUX
cblr-1711	416	16	reach	reach	VERB
cblr-1711	416	17	consumers	consumer	NOUN
cblr-1711	416	18	,	,	PUNCT
cblr-1711	416	19	and	and	CCONJ
cblr-1711	416	20	they	they	PRON
cblr-1711	416	21	can	can	AUX
cblr-1711	416	22	and	and	CCONJ
cblr-1711	416	23	should	should	AUX
cblr-1711	416	24	disclose	disclose	VERB
cblr-1711	416	25	their	their	PRON
cblr-1711	416	26	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	416	27	1094	1094	NUM
cblr-1711	416	28	columbia	columbia	PROPN
cblr-1711	416	29	business	business	NOUN
cblr-1711	416	30	law	law	PROPN
cblr-1711	416	31	review	review	NOUN
cblr-1711	417	1	[	[	X
cblr-1711	417	2	vol	vol	NOUN
cblr-1711	417	3	.	.	PUNCT
cblr-1711	417	4	2018	2018	NUM
cblr-1711	417	5	progress	progress	NOUN
cblr-1711	417	6	along	along	ADP
cblr-1711	417	7	the	the	DET
cblr-1711	417	8	way.176	way.176	NOUN
cblr-1711	417	9	this	this	DET
cblr-1711	417	10	subsection	subsection	NOUN
cblr-1711	417	11	provides	provide	VERB
cblr-1711	417	12	an	an	DET
cblr-1711	417	13	overview	overview	NOUN
cblr-1711	417	14	of	of	ADP
cblr-1711	417	15	the	the	DET
cblr-1711	417	16	many	many	ADJ
cblr-1711	417	17	fda	fda	PROPN
cblr-1711	417	18	regulations	regulation	NOUN
cblr-1711	417	19	that	that	PRON
cblr-1711	417	20	a	a	DET
cblr-1711	417	21	biotech	biotech	ADJ
cblr-1711	417	22	startup	startup	NOUN
cblr-1711	417	23	must	must	AUX
cblr-1711	417	24	surmount	surmount	VERB
cblr-1711	417	25	,	,	PUNCT
cblr-1711	417	26	the	the	DET
cblr-1711	417	27	prospects	prospect	NOUN
cblr-1711	417	28	and	and	CCONJ
cblr-1711	417	29	success	success	NOUN
cblr-1711	417	30	of	of	ADP
cblr-1711	417	31	which	which	PRON
cblr-1711	417	32	should	should	AUX
cblr-1711	417	33	be	be	AUX
cblr-1711	417	34	disclosed	disclose	VERB
cblr-1711	417	35	to	to	ADP
cblr-1711	417	36	potential	potential	ADJ
cblr-1711	417	37	investors	investor	NOUN
cblr-1711	417	38	through	through	ADP
cblr-1711	417	39	the	the	DET
cblr-1711	417	40	intermediary	intermediary	ADJ
cblr-1711	417	41	broker	broker	NOUN
cblr-1711	417	42	or	or	CCONJ
cblr-1711	417	43	funding	funding	NOUN
cblr-1711	417	44	portal	portal	PROPN
cblr-1711	417	45	.	.	PUNCT
cblr-1711	418	1	the	the	DET
cblr-1711	418	2	fda	fda	PROPN
cblr-1711	418	3	is	be	AUX
cblr-1711	418	4	the	the	DET
cblr-1711	418	5	primary	primary	ADJ
cblr-1711	418	6	regulatory	regulatory	ADJ
cblr-1711	418	7	authority	authority	NOUN
cblr-1711	418	8	for	for	ADP
cblr-1711	418	9	both	both	DET
cblr-1711	418	10	medical	medical	ADJ
cblr-1711	418	11	drugs	drug	NOUN
cblr-1711	418	12	and	and	CCONJ
cblr-1711	418	13	devices	device	NOUN
cblr-1711	418	14	,	,	PUNCT
cblr-1711	418	15	and	and	CCONJ
cblr-1711	418	16	it	it	PRON
cblr-1711	418	17	sets	set	VERB
cblr-1711	418	18	out	out	ADP
cblr-1711	418	19	milestones	milestone	NOUN
cblr-1711	418	20	governing	govern	VERB
cblr-1711	418	21	development	development	NOUN
cblr-1711	418	22	from	from	ADP
cblr-1711	418	23	pure	pure	ADJ
cblr-1711	418	24	laboratory	laboratory	NOUN
cblr-1711	418	25	research	research	NOUN
cblr-1711	418	26	to	to	ADP
cblr-1711	418	27	consumers	consumer	NOUN
cblr-1711	418	28	’	'	PUNCT
cblr-1711	418	29	hands.177	hands.177	PROPN
cblr-1711	418	30	for	for	ADP
cblr-1711	418	31	medical	medical	ADJ
cblr-1711	418	32	drugs	drug	NOUN
cblr-1711	418	33	,	,	PUNCT
cblr-1711	418	34	fda	fda	PROPN
cblr-1711	418	35	review	review	NOUN
cblr-1711	418	36	begins	begin	VERB
cblr-1711	418	37	176	176	NUM
cblr-1711	418	38	though	though	ADV
cblr-1711	418	39	outside	outside	ADP
cblr-1711	418	40	the	the	DET
cblr-1711	418	41	scope	scope	NOUN
cblr-1711	418	42	of	of	ADP
cblr-1711	418	43	this	this	DET
cblr-1711	418	44	note	note	NOUN
cblr-1711	418	45	,	,	PUNCT
cblr-1711	418	46	it	it	PRON
cblr-1711	418	47	is	be	AUX
cblr-1711	418	48	important	important	ADJ
cblr-1711	418	49	to	to	PART
cblr-1711	418	50	recognize	recognize	VERB
cblr-1711	418	51	that	that	SCONJ
cblr-1711	418	52	the	the	DET
cblr-1711	418	53	regulatory	regulatory	ADJ
cblr-1711	418	54	framework	framework	NOUN
cblr-1711	418	55	governing	govern	VERB
cblr-1711	418	56	companies	company	NOUN
cblr-1711	418	57	that	that	PRON
cblr-1711	418	58	manufacture	manufacture	VERB
cblr-1711	418	59	diagnostic	diagnostic	ADJ
cblr-1711	418	60	tests	test	NOUN
cblr-1711	418	61	(	(	PUNCT
cblr-1711	418	62	such	such	ADJ
cblr-1711	418	63	as	as	ADP
cblr-1711	418	64	theranos	therano	NOUN
cblr-1711	418	65	)	)	PUNCT
cblr-1711	418	66	is	be	AUX
cblr-1711	418	67	distinguishable	distinguishable	ADJ
cblr-1711	418	68	from	from	ADP
cblr-1711	418	69	the	the	DET
cblr-1711	418	70	regulatory	regulatory	ADJ
cblr-1711	418	71	framework	framework	NOUN
cblr-1711	418	72	governing	govern	VERB
cblr-1711	418	73	biotech	biotech	ADJ
cblr-1711	418	74	startups	startup	NOUN
cblr-1711	418	75	that	that	PRON
cblr-1711	418	76	produce	produce	VERB
cblr-1711	418	77	drugs	drug	NOUN
cblr-1711	418	78	and	and	CCONJ
cblr-1711	418	79	devices	device	NOUN
cblr-1711	418	80	.	.	PUNCT
cblr-1711	419	1	diagnostics	diagnostic	NOUN
cblr-1711	419	2	companies	company	NOUN
cblr-1711	419	3	can	can	AUX
cblr-1711	419	4	avoid	avoid	VERB
cblr-1711	419	5	submitting	submit	VERB
cblr-1711	419	6	their	their	PRON
cblr-1711	419	7	product	product	NOUN
cblr-1711	419	8	to	to	ADP
cblr-1711	419	9	the	the	DET
cblr-1711	419	10	fda	fda	PROPN
cblr-1711	419	11	before	before	ADP
cblr-1711	419	12	bringing	bring	VERB
cblr-1711	419	13	the	the	DET
cblr-1711	419	14	test	test	NOUN
cblr-1711	419	15	to	to	PART
cblr-1711	419	16	market	market	VERB
cblr-1711	419	17	through	through	ADP
cblr-1711	419	18	a	a	DET
cblr-1711	419	19	regulatory	regulatory	ADJ
cblr-1711	419	20	loophole	loophole	NOUN
cblr-1711	419	21	for	for	ADP
cblr-1711	419	22	laboratory	laboratory	NOUN
cblr-1711	419	23	developed	develop	VERB
cblr-1711	419	24	tests	test	NOUN
cblr-1711	419	25	(	(	PUNCT
cblr-1711	419	26	“	"	PUNCT
cblr-1711	419	27	ldts	ldts	NOUN
cblr-1711	419	28	”	"	PUNCT
cblr-1711	419	29	)	)	PUNCT
cblr-1711	419	30	.	.	PUNCT
cblr-1711	420	1	see	see	VERB
cblr-1711	420	2	arielle	arielle	PROPN
cblr-1711	420	3	duhaime	duhaime	PROPN
cblr-1711	420	4	-	-	PUNCT
cblr-1711	420	5	ross	ross	PROPN
cblr-1711	420	6	,	,	PUNCT
cblr-1711	420	7	theranos	therano	NOUN
cblr-1711	420	8	is	be	AUX
cblr-1711	420	9	n’t	not	PART
cblr-1711	420	10	the	the	DET
cblr-1711	420	11	only	only	ADJ
cblr-1711	420	12	diagnostics	diagnostic	NOUN
cblr-1711	420	13	company	company	NOUN
cblr-1711	420	14	exploiting	exploit	VERB
cblr-1711	420	15	regulatory	regulatory	ADJ
cblr-1711	420	16	loopholes	loophole	NOUN
cblr-1711	420	17	,	,	PUNCT
cblr-1711	420	18	verge	verge	NOUN
cblr-1711	420	19	(	(	PUNCT
cblr-1711	420	20	nov	nov	PROPN
cblr-1711	420	21	.	.	PROPN
cblr-1711	420	22	11	11	NUM
cblr-1711	420	23	,	,	PUNCT
cblr-1711	420	24	2015	2015	NUM
cblr-1711	420	25	,	,	PUNCT
cblr-1711	420	26	8:28	8:28	NUM
cblr-1711	420	27	am	am	NOUN
cblr-1711	420	28	)	)	PUNCT
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cblr-1711	421	1	[	[	X
cblr-1711	421	2	https://perma.cc/f7u3-d84h	https://perma.cc/f7u3-d84h	X
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cblr-1711	421	4	;	;	PUNCT
cblr-1711	421	5	see	see	VERB
cblr-1711	421	6	also	also	ADV
cblr-1711	421	7	laboratory	laboratory	NOUN
cblr-1711	421	8	developed	develop	VERB
cblr-1711	421	9	tests	test	NOUN
cblr-1711	421	10	,	,	PUNCT
cblr-1711	421	11	u.s	u.s	PROPN
cblr-1711	421	12	.	.	PROPN
cblr-1711	421	13	food	food	PROPN
cblr-1711	421	14	&	&	CCONJ
cblr-1711	421	15	drug	drug	PROPN
cblr-1711	421	16	admin	admin	PROPN
cblr-1711	421	17	.	.	PUNCT
cblr-1711	422	1	(	(	PUNCT
cblr-1711	422	2	oct	oct	PROPN
cblr-1711	422	3	.	.	PROPN
cblr-1711	422	4	12	12	NUM
cblr-1711	422	5	,	,	PUNCT
cblr-1711	422	6	2018	2018	NUM
cblr-1711	422	7	)	)	PUNCT
cblr-1711	422	8	,	,	PUNCT
cblr-1711	422	9	https://www.fda.gov/medicaldevices/	https://www.fda.gov/medicaldevices/	NOUN
cblr-1711	422	10	productsandmedicalprocedures	productsandmedicalprocedure	NOUN
cblr-1711	422	11	/	/	SYM
cblr-1711	422	12	invitrodiagnostics	invitrodiagnostic	NOUN
cblr-1711	422	13	/	/	SYM
cblr-1711	422	14	laboratorydevelopedtest	laboratorydevelopedtest	NOUN
cblr-1711	422	15	s	s	PART
cblr-1711	422	16	/	/	SYM
cblr-1711	422	17	default.htm	default.htm	X
cblr-1711	423	1	[	[	X
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cblr-1711	423	4	.	.	PUNCT
cblr-1711	424	1	this	this	DET
cblr-1711	424	2	loophole	loophole	NOUN
cblr-1711	424	3	allows	allow	VERB
cblr-1711	424	4	any	any	DET
cblr-1711	424	5	company	company	NOUN
cblr-1711	424	6	that	that	PRON
cblr-1711	424	7	develops	develop	VERB
cblr-1711	424	8	and	and	CCONJ
cblr-1711	424	9	conducts	conduct	VERB
cblr-1711	424	10	a	a	DET
cblr-1711	424	11	diagnostic	diagnostic	ADJ
cblr-1711	424	12	test	test	NOUN
cblr-1711	424	13	in	in	ADP
cblr-1711	424	14	its	its	PRON
cblr-1711	424	15	own	own	ADJ
cblr-1711	424	16	laboratory	laboratory	NOUN
cblr-1711	424	17	to	to	PART
cblr-1711	424	18	use	use	VERB
cblr-1711	424	19	the	the	DET
cblr-1711	424	20	test	test	NOUN
cblr-1711	424	21	on	on	ADP
cblr-1711	424	22	real	real	ADJ
cblr-1711	424	23	patients	patient	NOUN
cblr-1711	424	24	without	without	ADP
cblr-1711	424	25	having	have	VERB
cblr-1711	424	26	to	to	PART
cblr-1711	424	27	first	first	ADV
cblr-1711	424	28	submit	submit	VERB
cblr-1711	424	29	to	to	ADP
cblr-1711	424	30	the	the	DET
cblr-1711	424	31	fda	fda	PROPN
cblr-1711	424	32	.	.	PUNCT
cblr-1711	425	1	see	see	VERB
cblr-1711	425	2	i	i	PRON
cblr-1711	425	3	d.	d.	PROPN
cblr-1711	425	4	while	while	SCONJ
cblr-1711	425	5	the	the	DET
cblr-1711	425	6	centers	center	NOUN
cblr-1711	425	7	for	for	ADP
cblr-1711	425	8	medicare	medicare	PROPN
cblr-1711	425	9	and	and	CCONJ
cblr-1711	425	10	medicaid	medicaid	PROPN
cblr-1711	425	11	services	service	NOUN
cblr-1711	425	12	(	(	PUNCT
cblr-1711	425	13	“	"	PUNCT
cblr-1711	425	14	cms	cms	NOUN
cblr-1711	425	15	”	"	PUNCT
cblr-1711	425	16	)	)	PUNCT
cblr-1711	425	17	regulates	regulate	VERB
cblr-1711	425	18	laboratories	laboratory	NOUN
cblr-1711	425	19	and	and	CCONJ
cblr-1711	425	20	the	the	DET
cblr-1711	425	21	quality	quality	NOUN
cblr-1711	425	22	of	of	ADP
cblr-1711	425	23	laboratory	laboratory	NOUN
cblr-1711	425	24	testing	testing	NOUN
cblr-1711	425	25	,	,	PUNCT
cblr-1711	425	26	it	it	PRON
cblr-1711	425	27	does	do	AUX
cblr-1711	425	28	not	not	PART
cblr-1711	425	29	review	review	VERB
cblr-1711	425	30	tests	test	NOUN
cblr-1711	425	31	for	for	ADP
cblr-1711	425	32	safety	safety	NOUN
cblr-1711	425	33	and	and	CCONJ
cblr-1711	425	34	effectiveness	effectiveness	NOUN
cblr-1711	425	35	of	of	ADP
cblr-1711	425	36	patient	patient	ADJ
cblr-1711	425	37	treatment	treatment	NOUN
cblr-1711	425	38	and	and	CCONJ
cblr-1711	425	39	diagnosis	diagnosis	NOUN
cblr-1711	425	40	,	,	PUNCT
cblr-1711	425	41	as	as	SCONJ
cblr-1711	425	42	that	that	PRON
cblr-1711	425	43	falls	fall	VERB
cblr-1711	425	44	under	under	ADP
cblr-1711	425	45	the	the	DET
cblr-1711	425	46	fda	fda	PROPN
cblr-1711	425	47	’s	’s	PART
cblr-1711	425	48	purview	purview	NOUN
cblr-1711	425	49	.	.	PUNCT
cblr-1711	426	1	clinical	clinical	ADJ
cblr-1711	426	2	laboratory	laboratory	NOUN
cblr-1711	426	3	improvement	improvement	NOUN
cblr-1711	426	4	amendments	amendment	NOUN
cblr-1711	426	5	(	(	PUNCT
cblr-1711	426	6	clia	clia	PROPN
cblr-1711	426	7	)	)	PUNCT
cblr-1711	426	8	,	,	PUNCT
cblr-1711	426	9	ctrs	ctrs	PROPN
cblr-1711	426	10	.	.	PROPN
cblr-1711	427	1	for	for	ADP
cblr-1711	427	2	medicare	medicare	PROPN
cblr-1711	427	3	&	&	CCONJ
cblr-1711	427	4	medicaid	medicaid	PROPN
cblr-1711	427	5	servs	servs	PROPN
cblr-1711	427	6	.	.	PUNCT
cblr-1711	428	1	(	(	PUNCT
cblr-1711	428	2	sept	sept	PROPN
cblr-1711	428	3	.	.	PROPN
cblr-1711	428	4	19	19	NUM
cblr-1711	428	5	,	,	PUNCT
cblr-1711	428	6	2018	2018	NUM
cblr-1711	428	7	)	)	PUNCT
cblr-1711	428	8	,	,	PUNCT
cblr-1711	428	9	https://www.cms.gov/regulations-and-guidance/legislation/clia/	https://www.cms.gov/regulations-and-guidance/legislation/clia/	NOUN
cblr-1711	428	10	index.html?redirect=/clia	index.html?redirect=/clia	PROPN
cblr-1711	429	1	[	[	X
cblr-1711	429	2	https://perma.cc/ys69-8tkc	https://perma.cc/ys69-8tkc	PROPN
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cblr-1711	429	4	;	;	PUNCT
cblr-1711	429	5	clia	clia	PROPN
cblr-1711	429	6	overview	overview	NOUN
cblr-1711	429	7	…	…	PUNCT
cblr-1711	429	8	,	,	PUNCT
cblr-1711	429	9	ctrs	ctrs	PROPN
cblr-1711	429	10	.	.	PROPN
cblr-1711	430	1	for	for	ADP
cblr-1711	430	2	medicare	medicare	PROPN
cblr-1711	430	3	&	&	CCONJ
cblr-1711	430	4	medicaid	medicaid	PROPN
cblr-1711	430	5	servs	servs	PROPN
cblr-1711	430	6	.	.	PUNCT
cblr-1711	431	1	(	(	PUNCT
cblr-1711	431	2	oct	oct	PROPN
cblr-1711	431	3	.	.	PROPN
cblr-1711	431	4	22	22	NUM
cblr-1711	431	5	,	,	PUNCT
cblr-1711	431	6	2013	2013	NUM
cblr-1711	431	7	)	)	PUNCT
cblr-1711	431	8	,	,	PUNCT
cblr-1711	431	9	https://www.cms.gov/regulations-and-guidance/legislation/clia/	https://www.cms.gov/regulations-and-guidance/legislation/clia/	ADJ
cblr-1711	431	10	downloads	download	NOUN
cblr-1711	431	11	/	/	SYM
cblr-1711	431	12	ldt	ldt	PROPN
cblr-1711	431	13	-	-	PUNCT
cblr-1711	431	14	and	and	CCONJ
cblr-1711	431	15	-	-	PUNCT
cblr-1711	431	16	clia_faqs.pdf	clia_faqs.pdf	NOUN
cblr-1711	431	17	[	[	X
cblr-1711	431	18	https://perma.cc/t9mc-x79e	https://perma.cc/t9mc-x79e	X
cblr-1711	431	19	]	]	X
cblr-1711	431	20	.	.	PUNCT
cblr-1711	432	1	arguments	argument	NOUN
cblr-1711	432	2	for	for	ADP
cblr-1711	432	3	closing	close	VERB
cblr-1711	432	4	this	this	DET
cblr-1711	432	5	loophole	loophole	NOUN
cblr-1711	432	6	,	,	PUNCT
cblr-1711	432	7	as	as	ADV
cblr-1711	432	8	well	well	ADV
cblr-1711	432	9	as	as	ADP
cblr-1711	432	10	improving	improve	VERB
cblr-1711	432	11	the	the	DET
cblr-1711	432	12	relationship	relationship	NOUN
cblr-1711	432	13	between	between	ADP
cblr-1711	432	14	the	the	DET
cblr-1711	432	15	fda	fda	PROPN
cblr-1711	432	16	and	and	CCONJ
cblr-1711	432	17	cms	cms	PROPN
cblr-1711	432	18	as	as	ADP
cblr-1711	432	19	related	relate	VERB
cblr-1711	432	20	to	to	ADP
cblr-1711	432	21	oversight	oversight	NOUN
cblr-1711	432	22	of	of	ADP
cblr-1711	432	23	laboratory	laboratory	NOUN
cblr-1711	432	24	testing	testing	NOUN
cblr-1711	432	25	and	and	CCONJ
cblr-1711	432	26	diagnostic	diagnostic	ADJ
cblr-1711	432	27	devices	device	NOUN
cblr-1711	432	28	,	,	PUNCT
cblr-1711	432	29	are	be	AUX
cblr-1711	432	30	especially	especially	ADV
cblr-1711	432	31	of	of	ADP
cblr-1711	432	32	interest	interest	NOUN
cblr-1711	432	33	in	in	ADP
cblr-1711	432	34	the	the	DET
cblr-1711	432	35	wake	wake	NOUN
cblr-1711	432	36	of	of	ADP
cblr-1711	432	37	the	the	DET
cblr-1711	432	38	theranos	therano	NOUN
cblr-1711	432	39	scandal	scandal	NOUN
cblr-1711	432	40	,	,	PUNCT
cblr-1711	432	41	but	but	CCONJ
cblr-1711	432	42	this	this	DET
cblr-1711	432	43	note	note	NOUN
cblr-1711	432	44	is	be	AUX
cblr-1711	432	45	limited	limit	VERB
cblr-1711	432	46	to	to	ADP
cblr-1711	432	47	considering	consider	VERB
cblr-1711	432	48	the	the	DET
cblr-1711	432	49	fda	fda	PROPN
cblr-1711	432	50	regulation	regulation	NOUN
cblr-1711	432	51	of	of	ADP
cblr-1711	432	52	medical	medical	ADJ
cblr-1711	432	53	drugs	drug	NOUN
cblr-1711	432	54	and	and	CCONJ
cblr-1711	432	55	devices	device	NOUN
cblr-1711	432	56	only	only	ADV
cblr-1711	432	57	.	.	PUNCT
cblr-1711	433	1	177	177	NUM
cblr-1711	433	2	the	the	DET
cblr-1711	433	3	fda	fda	PROPN
cblr-1711	433	4	’s	’s	PART
cblr-1711	433	5	drug	drug	PROPN
cblr-1711	433	6	review	review	NOUN
cblr-1711	433	7	process	process	NOUN
cblr-1711	433	8	:	:	PUNCT
cblr-1711	433	9	ensuring	ensure	VERB
cblr-1711	433	10	drugs	drug	NOUN
cblr-1711	433	11	are	be	AUX
cblr-1711	433	12	safe	safe	ADJ
cblr-1711	433	13	and	and	CCONJ
cblr-1711	433	14	effective	effective	ADJ
cblr-1711	433	15	,	,	PUNCT
cblr-1711	433	16	u.s	u.s	PROPN
cblr-1711	433	17	.	.	PROPN
cblr-1711	433	18	food	food	PROPN
cblr-1711	433	19	&	&	CCONJ
cblr-1711	433	20	drug	drug	PROPN
cblr-1711	433	21	admin	admin	PROPN
cblr-1711	433	22	.	.	PROPN
cblr-1711	433	23	,	,	PUNCT
cblr-1711	433	24	https://www.fda.gov/drugs/	https://www.fda.gov/drugs/	PROPN
cblr-1711	433	25	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	433	26	no	no	NOUN
cblr-1711	433	27	.	.	PUNCT
cblr-1711	434	1	3:1060	3:1060	NUM
cblr-1711	434	2	]	]	X
cblr-1711	434	3	biotech	biotech	NOUN
cblr-1711	434	4	crowdfunding	crowdfunding	NOUN
cblr-1711	434	5	1095	1095	NUM
cblr-1711	434	6	once	once	SCONJ
cblr-1711	434	7	the	the	DET
cblr-1711	434	8	researchers	researcher	NOUN
cblr-1711	434	9	have	have	AUX
cblr-1711	434	10	submitted	submit	VERB
cblr-1711	434	11	an	an	DET
cblr-1711	434	12	investigational	investigational	ADJ
cblr-1711	434	13	new	new	ADJ
cblr-1711	434	14	drug	drug	NOUN
cblr-1711	434	15	application	application	NOUN
cblr-1711	434	16	(	(	PUNCT
cblr-1711	434	17	“	"	PUNCT
cblr-1711	434	18	ind”).178	ind”).178	PROPN
cblr-1711	434	19	the	the	DET
cblr-1711	434	20	ind	ind	NOUN
cblr-1711	434	21	must	must	AUX
cblr-1711	434	22	demonstrate	demonstrate	VERB
cblr-1711	434	23	that	that	SCONJ
cblr-1711	434	24	the	the	DET
cblr-1711	434	25	drug	drug	NOUN
cblr-1711	434	26	is	be	AUX
cblr-1711	434	27	ready	ready	ADJ
cblr-1711	434	28	for	for	ADP
cblr-1711	434	29	human	human	ADJ
cblr-1711	434	30	testing	testing	NOUN
cblr-1711	434	31	by	by	ADP
cblr-1711	434	32	showing	show	VERB
cblr-1711	434	33	the	the	DET
cblr-1711	434	34	results	result	NOUN
cblr-1711	434	35	of	of	ADP
cblr-1711	434	36	preclinical	preclinical	ADJ
cblr-1711	434	37	animal	animal	NOUN
cblr-1711	434	38	testing	testing	NOUN
cblr-1711	434	39	and	and	CCONJ
cblr-1711	434	40	proposing	propose	VERB
cblr-1711	434	41	trial	trial	NOUN
cblr-1711	434	42	protocols	protocol	NOUN
cblr-1711	434	43	for	for	ADP
cblr-1711	434	44	human	human	ADJ
cblr-1711	434	45	testing.179	testing.179	NOUN
cblr-1711	434	46	both	both	CCONJ
cblr-1711	434	47	the	the	DET
cblr-1711	434	48	fda	fda	PROPN
cblr-1711	434	49	and	and	CCONJ
cblr-1711	434	50	a	a	DET
cblr-1711	434	51	local	local	ADJ
cblr-1711	434	52	institutional	institutional	ADJ
cblr-1711	434	53	review	review	NOUN
cblr-1711	434	54	board	board	NOUN
cblr-1711	434	55	,	,	PUNCT
cblr-1711	434	56	a	a	DET
cblr-1711	434	57	panel	panel	NOUN
cblr-1711	434	58	composed	compose	VERB
cblr-1711	434	59	of	of	ADP
cblr-1711	434	60	scientists	scientist	NOUN
cblr-1711	434	61	and	and	CCONJ
cblr-1711	434	62	nonscientists	nonscientist	NOUN
cblr-1711	434	63	in	in	ADP
cblr-1711	434	64	hospitals	hospital	NOUN
cblr-1711	434	65	and	and	CCONJ
cblr-1711	434	66	research	research	NOUN
cblr-1711	434	67	institutions	institution	NOUN
cblr-1711	434	68	who	who	PRON
cblr-1711	434	69	oversee	oversee	VERB
cblr-1711	434	70	clinical	clinical	ADJ
cblr-1711	434	71	research	research	NOUN
cblr-1711	434	72	procedures	procedure	NOUN
cblr-1711	434	73	and	and	CCONJ
cblr-1711	434	74	ethics	ethic	NOUN
cblr-1711	434	75	,	,	PUNCT
cblr-1711	434	76	must	must	AUX
cblr-1711	434	77	approve	approve	VERB
cblr-1711	434	78	the	the	DET
cblr-1711	434	79	ind	ind	NOUN
cblr-1711	434	80	before	before	ADP
cblr-1711	434	81	clinical	clinical	ADJ
cblr-1711	434	82	testing	testing	NOUN
cblr-1711	434	83	in	in	ADP
cblr-1711	434	84	humans	human	NOUN
cblr-1711	434	85	can	can	AUX
cblr-1711	434	86	begin.180	begin.180	VERB
cblr-1711	434	87	submission	submission	NOUN
cblr-1711	434	88	of	of	ADP
cblr-1711	434	89	the	the	DET
cblr-1711	434	90	ind	ind	NOUN
cblr-1711	434	91	should	should	AUX
cblr-1711	434	92	be	be	AUX
cblr-1711	434	93	the	the	DET
cblr-1711	434	94	first	first	ADJ
cblr-1711	434	95	qualification	qualification	NOUN
cblr-1711	434	96	a	a	DET
cblr-1711	434	97	biotech	biotech	NOUN
cblr-1711	434	98	developing	develop	VERB
cblr-1711	434	99	a	a	DET
cblr-1711	434	100	drug	drug	NOUN
cblr-1711	434	101	should	should	AUX
cblr-1711	434	102	disclose	disclose	VERB
cblr-1711	434	103	to	to	ADP
cblr-1711	434	104	potential	potential	ADJ
cblr-1711	434	105	investors	investor	NOUN
cblr-1711	434	106	.	.	PUNCT
cblr-1711	435	1	once	once	SCONJ
cblr-1711	435	2	the	the	DET
cblr-1711	435	3	ind	ind	NOUN
cblr-1711	435	4	is	be	AUX
cblr-1711	435	5	approved	approve	VERB
cblr-1711	435	6	,	,	PUNCT
cblr-1711	435	7	the	the	DET
cblr-1711	435	8	three	three	NUM
cblr-1711	435	9	phases	phase	NOUN
cblr-1711	435	10	of	of	ADP
cblr-1711	435	11	clinical	clinical	ADJ
cblr-1711	435	12	studies	study	NOUN
cblr-1711	435	13	can	can	AUX
cblr-1711	435	14	begin.181	begin.181	VERB
cblr-1711	435	15	in	in	ADP
cblr-1711	435	16	phase	phase	NOUN
cblr-1711	435	17	i	i	PRON
cblr-1711	435	18	,	,	PUNCT
cblr-1711	435	19	researchers	researcher	NOUN
cblr-1711	435	20	test	test	VERB
cblr-1711	435	21	the	the	DET
cblr-1711	435	22	drug	drug	NOUN
cblr-1711	435	23	in	in	ADP
cblr-1711	435	24	healthy	healthy	ADJ
cblr-1711	435	25	volunteers	volunteer	NOUN
cblr-1711	435	26	to	to	PART
cblr-1711	435	27	determine	determine	VERB
cblr-1711	435	28	the	the	DET
cblr-1711	435	29	drug	drug	NOUN
cblr-1711	435	30	’s	’s	PART
cblr-1711	435	31	side	side	NOUN
cblr-1711	435	32	effects	effect	NOUN
cblr-1711	435	33	and	and	CCONJ
cblr-1711	435	34	how	how	SCONJ
cblr-1711	435	35	it	it	PRON
cblr-1711	435	36	is	be	AUX
cblr-1711	435	37	metabolized	metabolize	VERB
cblr-1711	435	38	and	and	CCONJ
cblr-1711	435	39	excreted.182	excreted.182	NOUN
cblr-1711	435	40	phase	phase	NOUN
cblr-1711	435	41	ii	ii	PROPN
cblr-1711	435	42	studies	study	NOUN
cblr-1711	435	43	can	can	AUX
cblr-1711	435	44	only	only	ADV
cblr-1711	435	45	begin	begin	VERB
cblr-1711	435	46	if	if	SCONJ
cblr-1711	435	47	the	the	DET
cblr-1711	435	48	researchers	researcher	NOUN
cblr-1711	435	49	determine	determine	VERB
cblr-1711	435	50	in	in	ADP
cblr-1711	435	51	phase	phase	NOUN
cblr-1711	435	52	i	i	PRON
cblr-1711	435	53	that	that	SCONJ
cblr-1711	435	54	the	the	DET
cblr-1711	435	55	drug	drug	NOUN
cblr-1711	435	56	is	be	AUX
cblr-1711	435	57	safe.183	safe.183	NUM
cblr-1711	435	58	phase	phase	NOUN
cblr-1711	435	59	ii	ii	PROPN
cblr-1711	435	60	analyzes	analyze	VERB
cblr-1711	435	61	the	the	DET
cblr-1711	435	62	effectiveness	effectiveness	NOUN
cblr-1711	435	63	of	of	ADP
cblr-1711	435	64	the	the	DET
cblr-1711	435	65	drug	drug	NOUN
cblr-1711	435	66	in	in	ADP
cblr-1711	435	67	treating	treat	VERB
cblr-1711	435	68	people	people	NOUN
cblr-1711	435	69	with	with	ADP
cblr-1711	435	70	a	a	DET
cblr-1711	435	71	certain	certain	ADJ
cblr-1711	435	72	disease	disease	NOUN
cblr-1711	435	73	or	or	CCONJ
cblr-1711	435	74	condition	condition	NOUN
cblr-1711	435	75	,	,	PUNCT
cblr-1711	435	76	while	while	SCONJ
cblr-1711	435	77	researchers	researcher	NOUN
cblr-1711	435	78	still	still	ADV
cblr-1711	435	79	monitor	monitor	VERB
cblr-1711	435	80	the	the	DET
cblr-1711	435	81	safety	safety	NOUN
cblr-1711	435	82	of	of	ADP
cblr-1711	435	83	the	the	DET
cblr-1711	435	84	drug	drug	NOUN
cblr-1711	435	85	in	in	ADP
cblr-1711	435	86	both	both	CCONJ
cblr-1711	435	87	the	the	DET
cblr-1711	435	88	control	control	NOUN
cblr-1711	435	89	and	and	CCONJ
cblr-1711	435	90	experimental	experimental	ADJ
cblr-1711	435	91	groups.184	groups.184	NOUN
cblr-1711	435	92	if	if	SCONJ
cblr-1711	435	93	the	the	DET
cblr-1711	435	94	trials	trial	NOUN
cblr-1711	435	95	continue	continue	VERB
cblr-1711	435	96	to	to	PART
cblr-1711	435	97	show	show	VERB
cblr-1711	435	98	that	that	SCONJ
cblr-1711	435	99	the	the	DET
cblr-1711	435	100	drug	drug	NOUN
cblr-1711	435	101	is	be	AUX
cblr-1711	435	102	safe	safe	ADJ
cblr-1711	435	103	,	,	PUNCT
cblr-1711	435	104	as	as	ADV
cblr-1711	435	105	well	well	ADV
cblr-1711	435	106	as	as	ADP
cblr-1711	435	107	effective	effective	ADJ
cblr-1711	435	108	in	in	ADP
cblr-1711	435	109	phase	phase	NOUN
cblr-1711	435	110	ii	ii	PROPN
cblr-1711	435	111	,	,	PUNCT
cblr-1711	435	112	the	the	DET
cblr-1711	435	113	fda	fda	PROPN
cblr-1711	435	114	and	and	CCONJ
cblr-1711	435	115	the	the	DET
cblr-1711	435	116	company	company	NOUN
cblr-1711	435	117	or	or	CCONJ
cblr-1711	435	118	institution	institution	NOUN
cblr-1711	435	119	responsible	responsible	ADJ
cblr-1711	435	120	for	for	ADP
cblr-1711	435	121	the	the	DET
cblr-1711	435	122	drug	drug	NOUN
cblr-1711	435	123	meet	meet	NOUN
cblr-1711	435	124	to	to	PART
cblr-1711	435	125	determine	determine	VERB
cblr-1711	435	126	how	how	SCONJ
cblr-1711	435	127	phase	phase	NOUN
cblr-1711	435	128	iii	iii	NUM
cblr-1711	435	129	large	large	ADJ
cblr-1711	435	130	-	-	PUNCT
cblr-1711	435	131	scale	scale	NOUN
cblr-1711	435	132	trials	trial	NOUN
cblr-1711	435	133	should	should	AUX
cblr-1711	435	134	be	be	AUX
cblr-1711	435	135	conducted.185	conducted.185	ADJ
cblr-1711	435	136	phase	phase	NOUN
cblr-1711	435	137	iii	iii	NUM
cblr-1711	435	138	trials	trial	NOUN
cblr-1711	435	139	test	test	VERB
cblr-1711	435	140	different	different	ADJ
cblr-1711	435	141	dosages	dosage	NOUN
cblr-1711	435	142	of	of	ADP
cblr-1711	435	143	the	the	DET
cblr-1711	435	144	drug	drug	NOUN
cblr-1711	435	145	on	on	ADP
cblr-1711	435	146	different	different	ADJ
cblr-1711	435	147	populations	population	NOUN
cblr-1711	435	148	,	,	PUNCT
cblr-1711	435	149	in	in	ADP
cblr-1711	435	150	combination	combination	NOUN
cblr-1711	435	151	with	with	ADP
cblr-1711	435	152	other	other	ADJ
cblr-1711	435	153	drugs	drug	NOUN
cblr-1711	435	154	,	,	PUNCT
cblr-1711	435	155	in	in	SCONJ
cblr-1711	435	156	at	at	ADP
cblr-1711	435	157	least	least	ADJ
cblr-1711	435	158	several	several	ADJ
cblr-1711	435	159	hundred	hundred	NUM
cblr-1711	435	160	and	and	CCONJ
cblr-1711	435	161	up	up	ADP
cblr-1711	435	162	to	to	ADP
cblr-1711	435	163	several	several	ADJ
cblr-1711	435	164	thousand	thousand	NUM
cblr-1711	435	165	individuals.186	individuals.186	NOUN
cblr-1711	435	166	a	a	DET
cblr-1711	435	167	biotech	biotech	ADJ
cblr-1711	435	168	company	company	NOUN
cblr-1711	435	169	should	should	AUX
cblr-1711	435	170	have	have	VERB
cblr-1711	435	171	to	to	PART
cblr-1711	435	172	disclose	disclose	VERB
cblr-1711	435	173	to	to	ADP
cblr-1711	435	174	resourcesforyou	resourcesforyou	PRON
cblr-1711	435	175	/	/	SYM
cblr-1711	435	176	consumers	consumer	NOUN
cblr-1711	435	177	/	/	SYM
cblr-1711	435	178	ucm143534.htm	ucm143534.htm	PROPN
cblr-1711	436	1	[	[	X
cblr-1711	436	2	https://perma.cc/bs22pv7v	https://perma.cc/bs22pv7v	X
cblr-1711	436	3	]	]	X
cblr-1711	436	4	(	(	PUNCT
cblr-1711	436	5	last	last	ADV
cblr-1711	436	6	updated	update	VERB
cblr-1711	436	7	nov	nov	PROPN
cblr-1711	436	8	.	.	PROPN
cblr-1711	436	9	24	24	NUM
cblr-1711	436	10	,	,	PUNCT
cblr-1711	436	11	2017	2017	NUM
cblr-1711	436	12	)	)	PUNCT
cblr-1711	436	13	.	.	PUNCT
cblr-1711	437	1	178	178	NUM
cblr-1711	438	1	i	i	PRON
cblr-1711	438	2	d.	d.	PROPN
cblr-1711	438	3	179	179	NUM
cblr-1711	439	1	i	i	PRON
cblr-1711	439	2	d.	d.	PROPN
cblr-1711	439	3	180	180	NUM
cblr-1711	440	1	i	i	PROPN
cblr-1711	440	2	d.	d.	PROPN
cblr-1711	440	3	181	181	NUM
cblr-1711	441	1	i	i	PRON
cblr-1711	441	2	d.	d.	PROPN
cblr-1711	441	3	182	182	NUM
cblr-1711	442	1	i	i	PRON
cblr-1711	442	2	d.	d.	PROPN
cblr-1711	442	3	183	183	NUM
cblr-1711	443	1	i	i	PROPN
cblr-1711	443	2	d.	d.	PROPN
cblr-1711	443	3	184	184	NUM
cblr-1711	444	1	i	i	PROPN
cblr-1711	444	2	d.	d.	PROPN
cblr-1711	444	3	185	185	NUM
cblr-1711	445	1	i	i	PRON
cblr-1711	445	2	d.	d.	PROPN
cblr-1711	445	3	186	186	NUM
cblr-1711	445	4	i	i	PROPN
cblr-1711	445	5	d.	d.	PROPN
cblr-1711	445	6	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	445	7	1096	1096	NUM
cblr-1711	445	8	columbia	columbia	PROPN
cblr-1711	445	9	business	business	NOUN
cblr-1711	445	10	law	law	PROPN
cblr-1711	445	11	review	review	NOUN
cblr-1711	445	12	[	[	X
cblr-1711	445	13	vol	vol	NOUN
cblr-1711	445	14	.	.	PUNCT
cblr-1711	445	15	2018	2018	NUM
cblr-1711	445	16	potential	potential	ADJ
cblr-1711	445	17	investors	investor	NOUN
cblr-1711	445	18	(	(	PUNCT
cblr-1711	445	19	through	through	ADP
cblr-1711	445	20	the	the	DET
cblr-1711	445	21	intermediary	intermediary	NOUN
cblr-1711	445	22	)	)	PUNCT
cblr-1711	445	23	which	which	PRON
cblr-1711	445	24	clinical	clinical	ADJ
cblr-1711	445	25	phase	phase	NOUN
cblr-1711	445	26	its	its	PRON
cblr-1711	445	27	drug	drug	NOUN
cblr-1711	445	28	is	be	AUX
cblr-1711	445	29	in	in	ADV
cblr-1711	445	30	,	,	PUNCT
cblr-1711	445	31	as	as	ADV
cblr-1711	445	32	well	well	ADV
cblr-1711	445	33	as	as	ADP
cblr-1711	445	34	provide	provide	VERB
cblr-1711	445	35	updates	update	NOUN
cblr-1711	445	36	to	to	PART
cblr-1711	445	37	current	current	ADJ
cblr-1711	445	38	investors	investor	NOUN
cblr-1711	445	39	through	through	ADP
cblr-1711	445	40	annual	annual	ADJ
cblr-1711	445	41	reports	report	NOUN
cblr-1711	445	42	of	of	ADP
cblr-1711	445	43	operations	operation	NOUN
cblr-1711	445	44	and	and	CCONJ
cblr-1711	445	45	financial	financial	ADJ
cblr-1711	445	46	statements	statement	NOUN
cblr-1711	445	47	,	,	PUNCT
cblr-1711	445	48	as	as	SCONJ
cblr-1711	445	49	already	already	ADV
cblr-1711	445	50	required	require	VERB
cblr-1711	445	51	by	by	ADP
cblr-1711	445	52	title	title	NOUN
cblr-1711	445	53	iii	iii	PROPN
cblr-1711	445	54	.	.	PUNCT
cblr-1711	446	1	if	if	SCONJ
cblr-1711	446	2	the	the	DET
cblr-1711	446	3	drug	drug	NOUN
cblr-1711	446	4	successfully	successfully	ADV
cblr-1711	446	5	makes	make	VERB
cblr-1711	446	6	it	it	PRON
cblr-1711	446	7	through	through	ADP
cblr-1711	446	8	the	the	DET
cblr-1711	446	9	three	three	NUM
cblr-1711	446	10	phases	phase	NOUN
cblr-1711	446	11	of	of	ADP
cblr-1711	446	12	clinical	clinical	ADJ
cblr-1711	446	13	testing	testing	NOUN
cblr-1711	446	14	,	,	PUNCT
cblr-1711	446	15	the	the	DET
cblr-1711	446	16	company	company	NOUN
cblr-1711	446	17	or	or	CCONJ
cblr-1711	446	18	institution	institution	NOUN
cblr-1711	446	19	responsible	responsible	ADJ
cblr-1711	446	20	for	for	ADP
cblr-1711	446	21	the	the	DET
cblr-1711	446	22	drug	drug	NOUN
cblr-1711	446	23	must	must	AUX
cblr-1711	446	24	then	then	ADV
cblr-1711	446	25	submit	submit	VERB
cblr-1711	446	26	a	a	DET
cblr-1711	446	27	formal	formal	ADJ
cblr-1711	446	28	new	new	ADJ
cblr-1711	446	29	drug	drug	NOUN
cblr-1711	446	30	application	application	NOUN
cblr-1711	446	31	(	(	PUNCT
cblr-1711	446	32	“	"	PUNCT
cblr-1711	446	33	nda”).187	nda”).187	VERB
cblr-1711	446	34	the	the	DET
cblr-1711	446	35	nda	nda	NOUN
cblr-1711	446	36	includes	include	VERB
cblr-1711	446	37	“	"	PUNCT
cblr-1711	446	38	all	all	DET
cblr-1711	446	39	animal	animal	NOUN
cblr-1711	446	40	and	and	CCONJ
cblr-1711	446	41	human	human	ADJ
cblr-1711	446	42	data	datum	NOUN
cblr-1711	446	43	and	and	CCONJ
cblr-1711	446	44	analyses	analysis	NOUN
cblr-1711	446	45	of	of	ADP
cblr-1711	446	46	the	the	DET
cblr-1711	446	47	data	datum	NOUN
cblr-1711	446	48	,	,	PUNCT
cblr-1711	446	49	as	as	ADV
cblr-1711	446	50	well	well	ADV
cblr-1711	446	51	as	as	ADP
cblr-1711	446	52	information	information	NOUN
cblr-1711	446	53	about	about	ADP
cblr-1711	446	54	how	how	SCONJ
cblr-1711	446	55	the	the	DET
cblr-1711	446	56	drug	drug	NOUN
cblr-1711	446	57	behaves	behave	VERB
cblr-1711	446	58	in	in	ADP
cblr-1711	446	59	the	the	DET
cblr-1711	446	60	body	body	NOUN
cblr-1711	446	61	and	and	CCONJ
cblr-1711	446	62	how	how	SCONJ
cblr-1711	446	63	it	it	PRON
cblr-1711	446	64	is	be	AUX
cblr-1711	446	65	manufactured	manufacture	VERB
cblr-1711	446	66	.	.	PUNCT
cblr-1711	447	1	”188	”188	PUNCT
cblr-1711	447	2	after	after	SCONJ
cblr-1711	447	3	the	the	DET
cblr-1711	447	4	fda	fda	PROPN
cblr-1711	447	5	receives	receive	VERB
cblr-1711	447	6	the	the	DET
cblr-1711	447	7	nda	nda	NOUN
cblr-1711	447	8	,	,	PUNCT
cblr-1711	447	9	the	the	DET
cblr-1711	447	10	fda	fda	PROPN
cblr-1711	447	11	has	have	VERB
cblr-1711	447	12	sixty	sixty	NUM
cblr-1711	447	13	days	day	NOUN
cblr-1711	447	14	to	to	PART
cblr-1711	447	15	decide	decide	VERB
cblr-1711	447	16	whether	whether	SCONJ
cblr-1711	447	17	to	to	PART
cblr-1711	447	18	file	file	VERB
cblr-1711	447	19	the	the	DET
cblr-1711	447	20	application	application	NOUN
cblr-1711	447	21	for	for	ADP
cblr-1711	447	22	review	review	NOUN
cblr-1711	447	23	or	or	CCONJ
cblr-1711	447	24	reject	reject	VERB
cblr-1711	447	25	it	it	PRON
cblr-1711	447	26	for	for	ADP
cblr-1711	447	27	being	be	AUX
cblr-1711	447	28	incomplete.189	incomplete.189	ADP
cblr-1711	447	29	the	the	DET
cblr-1711	447	30	fda	fda	PROPN
cblr-1711	447	31	’s	’s	PART
cblr-1711	447	32	expected	expect	VERB
cblr-1711	447	33	timeline	timeline	NOUN
cblr-1711	447	34	for	for	ADP
cblr-1711	447	35	reviewing	review	VERB
cblr-1711	447	36	and	and	CCONJ
cblr-1711	447	37	acting	act	VERB
cblr-1711	447	38	on	on	ADP
cblr-1711	447	39	ndas	ndas	PROPN
cblr-1711	447	40	is	be	AUX
cblr-1711	447	41	between	between	ADP
cblr-1711	447	42	six	six	NUM
cblr-1711	447	43	and	and	CCONJ
cblr-1711	447	44	ten	ten	NUM
cblr-1711	447	45	months	month	NOUN
cblr-1711	447	46	after	after	SCONJ
cblr-1711	447	47	the	the	DET
cblr-1711	447	48	applications	application	NOUN
cblr-1711	447	49	are	be	AUX
cblr-1711	447	50	received	receive	VERB
cblr-1711	447	51	,	,	PUNCT
cblr-1711	447	52	depending	depend	VERB
cblr-1711	447	53	on	on	ADP
cblr-1711	447	54	if	if	SCONJ
cblr-1711	447	55	the	the	DET
cblr-1711	447	56	drug	drug	NOUN
cblr-1711	447	57	is	be	AUX
cblr-1711	447	58	classified	classify	VERB
cblr-1711	447	59	as	as	ADP
cblr-1711	447	60	a	a	DET
cblr-1711	447	61	standard	standard	ADJ
cblr-1711	447	62	or	or	CCONJ
cblr-1711	447	63	priority	priority	NOUN
cblr-1711	447	64	drug.190	drug.190	VERB
cblr-1711	447	65	even	even	ADV
cblr-1711	447	66	after	after	ADP
cblr-1711	447	67	approval	approval	NOUN
cblr-1711	447	68	,	,	PUNCT
cblr-1711	447	69	the	the	DET
cblr-1711	447	70	fda	fda	PROPN
cblr-1711	447	71	conducts	conduct	VERB
cblr-1711	447	72	“	"	PUNCT
cblr-1711	447	73	postmarket	postmarket	ADJ
cblr-1711	447	74	requirement	requirement	NOUN
cblr-1711	447	75	and	and	CCONJ
cblr-1711	447	76	commitment	commitment	NOUN
cblr-1711	447	77	studies	study	NOUN
cblr-1711	447	78	to	to	PART
cblr-1711	447	79	gather	gather	VERB
cblr-1711	447	80	additional	additional	ADJ
cblr-1711	447	81	information	information	NOUN
cblr-1711	447	82	about	about	ADP
cblr-1711	447	83	a	a	DET
cblr-1711	447	84	product	product	NOUN
cblr-1711	447	85	’s	’s	PART
cblr-1711	447	86	safety	safety	NOUN
cblr-1711	447	87	,	,	PUNCT
cblr-1711	447	88	efficacy	efficacy	NOUN
cblr-1711	447	89	,	,	PUNCT
cblr-1711	447	90	or	or	CCONJ
cblr-1711	447	91	optimal	optimal	ADJ
cblr-1711	447	92	use	use	NOUN
cblr-1711	447	93	.	.	PUNCT
cblr-1711	447	94	”191	”191	PUNCT
cblr-1711	448	1	the	the	DET
cblr-1711	448	2	submission	submission	NOUN
cblr-1711	448	3	and	and	CCONJ
cblr-1711	448	4	pending	pende	VERB
cblr-1711	448	5	status	status	NOUN
cblr-1711	448	6	of	of	ADP
cblr-1711	448	7	the	the	DET
cblr-1711	448	8	nda	nda	PROPN
cblr-1711	448	9	are	be	AUX
cblr-1711	448	10	both	both	CCONJ
cblr-1711	448	11	incredibly	incredibly	ADV
cblr-1711	448	12	useful	useful	ADJ
cblr-1711	448	13	indicators	indicator	NOUN
cblr-1711	448	14	of	of	ADP
cblr-1711	448	15	the	the	DET
cblr-1711	448	16	likelihood	likelihood	NOUN
cblr-1711	448	17	that	that	SCONJ
cblr-1711	448	18	a	a	DET
cblr-1711	448	19	product	product	NOUN
cblr-1711	448	20	will	will	AUX
cblr-1711	448	21	make	make	VERB
cblr-1711	448	22	it	it	PRON
cblr-1711	448	23	to	to	ADP
cblr-1711	448	24	market	market	NOUN
cblr-1711	448	25	,	,	PUNCT
cblr-1711	448	26	and	and	CCONJ
cblr-1711	448	27	thus	thus	ADV
cblr-1711	448	28	they	they	PRON
cblr-1711	448	29	should	should	AUX
cblr-1711	448	30	be	be	AUX
cblr-1711	448	31	disclosed	disclose	VERB
cblr-1711	448	32	to	to	ADP
cblr-1711	448	33	potential	potential	ADJ
cblr-1711	448	34	and	and	CCONJ
cblr-1711	448	35	current	current	ADJ
cblr-1711	448	36	investors	investor	NOUN
cblr-1711	448	37	through	through	ADP
cblr-1711	448	38	the	the	DET
cblr-1711	448	39	intermediary	intermediary	NOUN
cblr-1711	448	40	and	and	CCONJ
cblr-1711	448	41	annual	annual	ADJ
cblr-1711	448	42	updates	update	NOUN
cblr-1711	448	43	.	.	PUNCT
cblr-1711	449	1	the	the	DET
cblr-1711	449	2	regulatory	regulatory	ADJ
cblr-1711	449	3	burden	burden	NOUN
cblr-1711	449	4	to	to	PART
cblr-1711	449	5	get	get	VERB
cblr-1711	449	6	a	a	DET
cblr-1711	449	7	drug	drug	NOUN
cblr-1711	449	8	to	to	ADP
cblr-1711	449	9	market	market	NOUN
cblr-1711	449	10	is	be	AUX
cblr-1711	449	11	cumbersome	cumbersome	ADJ
cblr-1711	449	12	and	and	CCONJ
cblr-1711	449	13	lengthy	lengthy	ADJ
cblr-1711	449	14	,	,	PUNCT
cblr-1711	449	15	with	with	SCONJ
cblr-1711	449	16	each	each	DET
cblr-1711	449	17	clinical	clinical	ADJ
cblr-1711	449	18	phase	phase	NOUN
cblr-1711	449	19	potentially	potentially	ADV
cblr-1711	449	20	lasting	last	VERB
cblr-1711	449	21	several	several	ADJ
cblr-1711	449	22	years,192	years,192	NOUN
cblr-1711	449	23	but	but	CCONJ
cblr-1711	449	24	the	the	DET
cblr-1711	449	25	path	path	NOUN
cblr-1711	449	26	to	to	ADP
cblr-1711	449	27	approval	approval	NOUN
cblr-1711	449	28	is	be	AUX
cblr-1711	449	29	clear	clear	ADJ
cblr-1711	449	30	and	and	CCONJ
cblr-1711	449	31	well	well	ADV
cblr-1711	449	32	-	-	PUNCT
cblr-1711	449	33	known	know	VERB
cblr-1711	449	34	.	.	PUNCT
cblr-1711	450	1	even	even	ADV
cblr-1711	450	2	among	among	ADP
cblr-1711	450	3	those	those	PRON
cblr-1711	450	4	not	not	PART
cblr-1711	450	5	in	in	ADP
cblr-1711	450	6	the	the	DET
cblr-1711	450	7	industry	industry	NOUN
cblr-1711	450	8	,	,	PUNCT
cblr-1711	450	9	people	people	NOUN
cblr-1711	450	10	at	at	ADP
cblr-1711	450	11	least	least	ADJ
cblr-1711	450	12	recognize	recognize	VERB
cblr-1711	450	13	the	the	DET
cblr-1711	450	14	value	value	NOUN
cblr-1711	450	15	of	of	ADP
cblr-1711	450	16	fda	fda	PROPN
cblr-1711	450	17	approval	approval	NOUN
cblr-1711	450	18	and	and	CCONJ
cblr-1711	450	19	have	have	VERB
cblr-1711	450	20	some	some	DET
cblr-1711	450	21	knowledge	knowledge	NOUN
cblr-1711	450	22	of	of	ADP
cblr-1711	450	23	clinical	clinical	ADJ
cblr-1711	450	24	trial	trial	NOUN
cblr-1711	450	25	phases	phase	NOUN
cblr-1711	450	26	as	as	ADP
cblr-1711	450	27	indications	indication	NOUN
cblr-1711	450	28	of	of	ADP
cblr-1711	450	29	safety	safety	NOUN
cblr-1711	450	30	and	and	CCONJ
cblr-1711	450	31	effectiveness	effectiveness	NOUN
cblr-1711	450	32	.	.	PUNCT
cblr-1711	451	1	as	as	ADP
cblr-1711	451	2	such	such	ADJ
cblr-1711	451	3	,	,	PUNCT
cblr-1711	451	4	presentation	presentation	NOUN
cblr-1711	451	5	of	of	ADP
cblr-1711	451	6	these	these	DET
cblr-1711	451	7	signals	signal	NOUN
cblr-1711	451	8	is	be	AUX
cblr-1711	451	9	useful	useful	ADJ
cblr-1711	451	10	for	for	ADP
cblr-1711	451	11	individuals	individual	NOUN
cblr-1711	451	12	searching	search	VERB
cblr-1711	451	13	for	for	ADP
cblr-1711	451	14	a	a	DET
cblr-1711	451	15	biotech	biotech	ADJ
cblr-1711	451	16	company	company	NOUN
cblr-1711	451	17	in	in	ADP
cblr-1711	451	18	which	which	PRON
cblr-1711	451	19	to	to	PART
cblr-1711	451	20	invest	invest	VERB
cblr-1711	451	21	,	,	PUNCT
cblr-1711	451	22	and	and	CCONJ
cblr-1711	451	23	it	it	PRON
cblr-1711	451	24	can	can	AUX
cblr-1711	451	25	help	help	VERB
cblr-1711	451	26	them	they	PRON
cblr-1711	451	27	differentiate	differentiate	VERB
cblr-1711	451	28	between	between	ADP
cblr-1711	451	29	a	a	DET
cblr-1711	451	30	variety	variety	NOUN
cblr-1711	451	31	of	of	ADP
cblr-1711	451	32	187	187	NUM
cblr-1711	451	33	i	i	PROPN
cblr-1711	451	34	d.	d.	PROPN
cblr-1711	451	35	188	188	NUM
cblr-1711	452	1	i	i	PROPN
cblr-1711	452	2	d.	d.	PROPN
cblr-1711	452	3	189	189	NUM
cblr-1711	453	1	i	i	PRON
cblr-1711	453	2	d.	d.	PROPN
cblr-1711	453	3	190	190	NUM
cblr-1711	454	1	i	i	PROPN
cblr-1711	454	2	d.	d.	PROPN
cblr-1711	454	3	191	191	NUM
cblr-1711	455	1	i	i	PRON
cblr-1711	455	2	d.	d.	PROPN
cblr-1711	455	3	192	192	NUM
cblr-1711	456	1	i	i	PRON
cblr-1711	456	2	d.	d.	PROPN
cblr-1711	456	3	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	456	4	no	no	NOUN
cblr-1711	456	5	.	.	PUNCT
cblr-1711	457	1	3:1060	3:1060	NUM
cblr-1711	457	2	]	]	X
cblr-1711	457	3	biotech	biotech	NOUN
cblr-1711	457	4	crowdfunding	crowdfunde	VERB
cblr-1711	457	5	1097	1097	NUM
cblr-1711	457	6	companies	company	NOUN
cblr-1711	457	7	engaged	engage	VERB
cblr-1711	457	8	in	in	ADP
cblr-1711	457	9	crowdfunding	crowdfunding	NOUN
cblr-1711	457	10	aimed	aim	VERB
cblr-1711	457	11	at	at	ADP
cblr-1711	457	12	remedying	remedy	VERB
cblr-1711	457	13	an	an	DET
cblr-1711	457	14	illness	illness	NOUN
cblr-1711	457	15	or	or	CCONJ
cblr-1711	457	16	disease	disease	NOUN
cblr-1711	457	17	.	.	PUNCT
cblr-1711	458	1	mandatory	mandatory	ADJ
cblr-1711	458	2	disclosure	disclosure	NOUN
cblr-1711	458	3	of	of	ADP
cblr-1711	458	4	fda	fda	PROPN
cblr-1711	458	5	regulatory	regulatory	ADJ
cblr-1711	458	6	status	status	NOUN
cblr-1711	458	7	makes	make	VERB
cblr-1711	458	8	clear	clear	ADJ
cblr-1711	458	9	which	which	PRON
cblr-1711	458	10	startups	startup	NOUN
cblr-1711	458	11	are	be	AUX
cblr-1711	458	12	not	not	PART
cblr-1711	458	13	seeking	seek	VERB
cblr-1711	458	14	fda	fda	PROPN
cblr-1711	458	15	approval	approval	NOUN
cblr-1711	458	16	,	,	PUNCT
cblr-1711	458	17	either	either	CCONJ
cblr-1711	458	18	because	because	SCONJ
cblr-1711	458	19	they	they	PRON
cblr-1711	458	20	will	will	AUX
cblr-1711	458	21	not	not	PART
cblr-1711	458	22	have	have	VERB
cblr-1711	458	23	the	the	DET
cblr-1711	458	24	clinical	clinical	ADJ
cblr-1711	458	25	data	datum	NOUN
cblr-1711	458	26	to	to	PART
cblr-1711	458	27	support	support	VERB
cblr-1711	458	28	the	the	DET
cblr-1711	458	29	safety	safety	NOUN
cblr-1711	458	30	and	and	CCONJ
cblr-1711	458	31	effectiveness	effectiveness	NOUN
cblr-1711	458	32	of	of	ADP
cblr-1711	458	33	the	the	DET
cblr-1711	458	34	drug	drug	NOUN
cblr-1711	458	35	or	or	CCONJ
cblr-1711	458	36	because	because	SCONJ
cblr-1711	458	37	the	the	DET
cblr-1711	458	38	product	product	NOUN
cblr-1711	458	39	does	do	AUX
cblr-1711	458	40	not	not	PART
cblr-1711	458	41	actually	actually	ADV
cblr-1711	458	42	qualify	qualify	VERB
cblr-1711	458	43	as	as	ADP
cblr-1711	458	44	a	a	DET
cblr-1711	458	45	drug	drug	NOUN
cblr-1711	458	46	(	(	PUNCT
cblr-1711	458	47	and	and	CCONJ
cblr-1711	458	48	may	may	AUX
cblr-1711	458	49	therefore	therefore	ADV
cblr-1711	458	50	be	be	AUX
cblr-1711	458	51	exempt	exempt	ADJ
cblr-1711	458	52	)	)	PUNCT
cblr-1711	458	53	.	.	PUNCT
cblr-1711	459	1	in	in	ADP
cblr-1711	459	2	such	such	ADJ
cblr-1711	459	3	cases	case	NOUN
cblr-1711	459	4	,	,	PUNCT
cblr-1711	459	5	the	the	DET
cblr-1711	459	6	startup	startup	NOUN
cblr-1711	459	7	can	can	AUX
cblr-1711	459	8	nonetheless	nonetheless	ADV
cblr-1711	459	9	provide	provide	VERB
cblr-1711	459	10	its	its	PRON
cblr-1711	459	11	reason	reason	NOUN
cblr-1711	459	12	for	for	ADP
cblr-1711	459	13	not	not	PART
cblr-1711	459	14	submitting	submit	VERB
cblr-1711	459	15	the	the	DET
cblr-1711	459	16	ind	ind	NOUN
cblr-1711	459	17	,	,	PUNCT
cblr-1711	459	18	the	the	DET
cblr-1711	459	19	first	first	ADJ
cblr-1711	459	20	stage	stage	NOUN
cblr-1711	459	21	of	of	ADP
cblr-1711	459	22	fda	fda	PROPN
cblr-1711	459	23	regulatory	regulatory	ADJ
cblr-1711	459	24	approval	approval	NOUN
cblr-1711	459	25	.	.	PUNCT
cblr-1711	460	1	disclosure	disclosure	NOUN
cblr-1711	460	2	could	could	AUX
cblr-1711	460	3	occur	occur	VERB
cblr-1711	460	4	through	through	ADP
cblr-1711	460	5	a	a	DET
cblr-1711	460	6	checklist	checklist	NOUN
cblr-1711	460	7	on	on	ADP
cblr-1711	460	8	the	the	DET
cblr-1711	460	9	funding	funding	NOUN
cblr-1711	460	10	portal	portal	NOUN
cblr-1711	460	11	,	,	PUNCT
cblr-1711	460	12	listing	list	VERB
cblr-1711	460	13	the	the	DET
cblr-1711	460	14	regulatory	regulatory	ADJ
cblr-1711	460	15	stages	stage	NOUN
cblr-1711	460	16	in	in	ADP
cblr-1711	460	17	checkboxes	checkboxe	NOUN
cblr-1711	460	18	with	with	ADP
cblr-1711	460	19	additional	additional	ADJ
cblr-1711	460	20	spaces	space	NOUN
cblr-1711	460	21	provided	provide	VERB
cblr-1711	460	22	for	for	ADP
cblr-1711	460	23	status	status	NOUN
cblr-1711	460	24	updates	update	NOUN
cblr-1711	460	25	or	or	CCONJ
cblr-1711	460	26	explanation	explanation	NOUN
cblr-1711	460	27	.	.	PUNCT
cblr-1711	461	1	the	the	DET
cblr-1711	461	2	disclosure	disclosure	NOUN
cblr-1711	461	3	should	should	AUX
cblr-1711	461	4	also	also	ADV
cblr-1711	461	5	include	include	VERB
cblr-1711	461	6	descriptions	description	NOUN
cblr-1711	461	7	and	and	CCONJ
cblr-1711	461	8	disclaimers	disclaimer	NOUN
cblr-1711	461	9	about	about	ADP
cblr-1711	461	10	what	what	PRON
cblr-1711	461	11	each	each	DET
cblr-1711	461	12	stage	stage	NOUN
cblr-1711	461	13	means	mean	VERB
cblr-1711	461	14	and	and	CCONJ
cblr-1711	461	15	its	its	PRON
cblr-1711	461	16	general	general	ADJ
cblr-1711	461	17	probative	probative	ADJ
cblr-1711	461	18	value	value	NOUN
cblr-1711	461	19	to	to	ADP
cblr-1711	461	20	the	the	DET
cblr-1711	461	21	investment	investment	NOUN
cblr-1711	461	22	.	.	PUNCT
cblr-1711	462	1	while	while	SCONJ
cblr-1711	462	2	the	the	DET
cblr-1711	462	3	preceding	precede	VERB
cblr-1711	462	4	discussion	discussion	NOUN
cblr-1711	462	5	outlined	outline	VERB
cblr-1711	462	6	the	the	DET
cblr-1711	462	7	steps	step	NOUN
cblr-1711	462	8	for	for	ADP
cblr-1711	462	9	regulatory	regulatory	ADJ
cblr-1711	462	10	approval	approval	NOUN
cblr-1711	462	11	of	of	ADP
cblr-1711	462	12	a	a	DET
cblr-1711	462	13	medical	medical	ADJ
cblr-1711	462	14	drug	drug	NOUN
cblr-1711	462	15	,	,	PUNCT
cblr-1711	462	16	the	the	DET
cblr-1711	462	17	fda	fda	PROPN
cblr-1711	462	18	also	also	ADV
cblr-1711	462	19	regulates	regulate	VERB
cblr-1711	462	20	medical	medical	ADJ
cblr-1711	462	21	devices	device	NOUN
cblr-1711	462	22	according	accord	VERB
cblr-1711	462	23	to	to	ADP
cblr-1711	462	24	three	three	NUM
cblr-1711	462	25	regulatory	regulatory	ADJ
cblr-1711	462	26	classes	class	NOUN
cblr-1711	462	27	—	—	PUNCT
cblr-1711	462	28	classes	class	NOUN
cblr-1711	462	29	i	i	PRON
cblr-1711	462	30	,	,	PUNCT
cblr-1711	462	31	ii	ii	PROPN
cblr-1711	462	32	,	,	PUNCT
cblr-1711	462	33	and	and	CCONJ
cblr-1711	462	34	iii	iii	X
cblr-1711	462	35	—	—	PUNCT
cblr-1711	462	36	determined	determine	VERB
cblr-1711	462	37	by	by	ADP
cblr-1711	462	38	the	the	DET
cblr-1711	462	39	devices	device	NOUN
cblr-1711	462	40	’	'	PUNCT
cblr-1711	462	41	“	"	PUNCT
cblr-1711	462	42	intended	intend	VERB
cblr-1711	462	43	use	use	NOUN
cblr-1711	462	44	and	and	CCONJ
cblr-1711	462	45	the	the	DET
cblr-1711	462	46	degree	degree	NOUN
cblr-1711	462	47	of	of	ADP
cblr-1711	462	48	risk	risk	NOUN
cblr-1711	462	49	they	they	PRON
cblr-1711	462	50	pose	pose	VERB
cblr-1711	462	51	to	to	ADP
cblr-1711	462	52	the	the	DET
cblr-1711	462	53	public	public	NOUN
cblr-1711	462	54	.	.	PUNCT
cblr-1711	462	55	”193	”193	PUNCT
cblr-1711	463	1	all	all	DET
cblr-1711	463	2	manufacturers	manufacturer	NOUN
cblr-1711	463	3	and	and	CCONJ
cblr-1711	463	4	initial	initial	ADJ
cblr-1711	463	5	distributors	distributor	NOUN
cblr-1711	463	6	of	of	ADP
cblr-1711	463	7	medical	medical	ADJ
cblr-1711	463	8	devices	device	NOUN
cblr-1711	463	9	must	must	AUX
cblr-1711	463	10	register	register	VERB
cblr-1711	463	11	their	their	PRON
cblr-1711	463	12	place	place	NOUN
cblr-1711	463	13	of	of	ADP
cblr-1711	463	14	business	business	NOUN
cblr-1711	463	15	with	with	ADP
cblr-1711	463	16	the	the	DET
cblr-1711	463	17	fda	fda	PROPN
cblr-1711	463	18	,	,	PUNCT
cblr-1711	463	19	and	and	CCONJ
cblr-1711	463	20	most	most	ADJ
cblr-1711	463	21	are	be	AUX
cblr-1711	463	22	“	"	PUNCT
cblr-1711	463	23	required	require	VERB
cblr-1711	463	24	to	to	PART
cblr-1711	463	25	list	list	VERB
cblr-1711	463	26	the	the	DET
cblr-1711	463	27	devices	device	NOUN
cblr-1711	463	28	that	that	PRON
cblr-1711	463	29	are	be	AUX
cblr-1711	463	30	made	make	VERB
cblr-1711	463	31	there	there	ADV
cblr-1711	463	32	and	and	CCONJ
cblr-1711	463	33	the	the	DET
cblr-1711	463	34	activities	activity	NOUN
cblr-1711	463	35	that	that	PRON
cblr-1711	463	36	are	be	AUX
cblr-1711	463	37	performed	perform	VERB
cblr-1711	463	38	on	on	ADP
cblr-1711	463	39	those	those	DET
cblr-1711	463	40	devices	device	NOUN
cblr-1711	463	41	.	.	PUNCT
cblr-1711	463	42	”194	”194	PUNCT
cblr-1711	464	1	in	in	ADP
cblr-1711	464	2	addition	addition	NOUN
cblr-1711	464	3	to	to	ADP
cblr-1711	464	4	registering	register	VERB
cblr-1711	464	5	the	the	DET
cblr-1711	464	6	business	business	NOUN
cblr-1711	464	7	and	and	CCONJ
cblr-1711	464	8	listing	list	VERB
cblr-1711	464	9	the	the	DET
cblr-1711	464	10	device	device	NOUN
cblr-1711	464	11	,	,	PUNCT
cblr-1711	464	12	manufacturers	manufacturer	NOUN
cblr-1711	464	13	of	of	ADP
cblr-1711	464	14	class	class	NOUN
cblr-1711	464	15	iii	iii	PROPN
cblr-1711	464	16	devices	device	NOUN
cblr-1711	464	17	must	must	AUX
cblr-1711	464	18	obtain	obtain	VERB
cblr-1711	464	19	premarket	premarket	NOUN
cblr-1711	464	20	approval	approval	NOUN
cblr-1711	464	21	(	(	PUNCT
cblr-1711	464	22	“	"	PUNCT
cblr-1711	464	23	pma	pma	NOUN
cblr-1711	464	24	”	"	PUNCT
cblr-1711	464	25	)	)	PUNCT
cblr-1711	464	26	,	,	PUNCT
cblr-1711	464	27	the	the	DET
cblr-1711	464	28	fda	fda	PROPN
cblr-1711	464	29	’s	’s	PART
cblr-1711	464	30	scientific	scientific	ADJ
cblr-1711	464	31	and	and	CCONJ
cblr-1711	464	32	regulatory	regulatory	ADJ
cblr-1711	464	33	review	review	NOUN
cblr-1711	464	34	process	process	NOUN
cblr-1711	464	35	evaluating	evaluate	VERB
cblr-1711	464	36	safety	safety	NOUN
cblr-1711	464	37	and	and	CCONJ
cblr-1711	464	38	effectiveness	effectiveness	NOUN
cblr-1711	464	39	of	of	ADP
cblr-1711	464	40	devices	device	NOUN
cblr-1711	464	41	that	that	PRON
cblr-1711	464	42	support	support	VERB
cblr-1711	464	43	or	or	CCONJ
cblr-1711	464	44	sustain	sustain	VERB
cblr-1711	464	45	human	human	ADJ
cblr-1711	464	46	life	life	NOUN
cblr-1711	464	47	,	,	PUNCT
cblr-1711	464	48	prevent	prevent	VERB
cblr-1711	464	49	impairment	impairment	NOUN
cblr-1711	464	50	of	of	ADP
cblr-1711	464	51	human	human	ADJ
cblr-1711	464	52	health	health	NOUN
cblr-1711	464	53	,	,	PUNCT
cblr-1711	464	54	or	or	CCONJ
cblr-1711	464	55	present	present	ADJ
cblr-1711	464	56	possible	possible	ADJ
cblr-1711	464	57	unreasonable	unreasonable	ADJ
cblr-1711	464	58	risk	risk	NOUN
cblr-1711	464	59	of	of	ADP
cblr-1711	464	60	illness	illness	NOUN
cblr-1711	464	61	or	or	CCONJ
cblr-1711	464	62	injury.195	injury.195	PROPN
cblr-1711	464	63	pma	pma	NOUN
cblr-1711	464	64	is	be	AUX
cblr-1711	464	65	the	the	DET
cblr-1711	464	66	most	most	ADV
cblr-1711	464	67	stringent	stringent	ADJ
cblr-1711	464	68	regulatory	regulatory	ADJ
cblr-1711	464	69	requirement	requirement	NOUN
cblr-1711	464	70	193	193	NUM
cblr-1711	464	71	sarah	sarah	PROPN
cblr-1711	464	72	y.	y.	PROPN
cblr-1711	464	73	kwon	kwon	PROPN
cblr-1711	464	74	,	,	PUNCT
cblr-1711	464	75	note	note	VERB
cblr-1711	464	76	,	,	PUNCT
cblr-1711	464	77	regulating	regulate	VERB
cblr-1711	464	78	personalized	personalized	ADJ
cblr-1711	464	79	medicine	medicine	NOUN
cblr-1711	464	80	,	,	PUNCT
cblr-1711	464	81	31	31	NUM
cblr-1711	464	82	berkeley	berkeley	PROPN
cblr-1711	464	83	tech	tech	NOUN
cblr-1711	464	84	.	.	PUNCT
cblr-1711	465	1	l.j	l.j	PROPN
cblr-1711	465	2	.	.	PROPN
cblr-1711	465	3	931	931	NUM
cblr-1711	465	4	,	,	PUNCT
cblr-1711	465	5	937	937	NUM
cblr-1711	465	6	(	(	PUNCT
cblr-1711	465	7	2016	2016	NUM
cblr-1711	465	8	)	)	PUNCT
cblr-1711	465	9	.	.	PUNCT
cblr-1711	466	1	194	194	NUM
cblr-1711	466	2	device	device	NOUN
cblr-1711	466	3	registration	registration	NOUN
cblr-1711	466	4	and	and	CCONJ
cblr-1711	466	5	listing	listing	NOUN
cblr-1711	466	6	,	,	PUNCT
cblr-1711	466	7	u.s	u.s	PROPN
cblr-1711	466	8	.	.	PROPN
cblr-1711	466	9	food	food	PROPN
cblr-1711	466	10	&	&	CCONJ
cblr-1711	466	11	drug	drug	PROPN
cblr-1711	466	12	admin	admin	PROPN
cblr-1711	466	13	.	.	PROPN
cblr-1711	466	14	,	,	PUNCT
cblr-1711	466	15	https://www.fda.gov/medicaldevices/deviceregulationand	https://www.fda.gov/medicaldevices/deviceregulationand	NOUN
cblr-1711	466	16	guidance	guidance	NOUN
cblr-1711	466	17	/	/	SYM
cblr-1711	466	18	howtomarketyourdevice	howtomarketyourdevice	NOUN
cblr-1711	466	19	/	/	SYM
cblr-1711	466	20	registrationandlisting	registrationandlisting	NOUN
cblr-1711	466	21	/	/	SYM
cblr-1711	466	22	default.htm	default.htm	X
cblr-1711	467	1	[	[	X
cblr-1711	467	2	https://perma.cc/ma3d-d8f7	https://perma.cc/ma3d-d8f7	X
cblr-1711	467	3	]	]	X
cblr-1711	467	4	(	(	PUNCT
cblr-1711	467	5	last	last	ADJ
cblr-1711	467	6	updated	update	VERB
cblr-1711	467	7	sept	sept	PROPN
cblr-1711	467	8	.	.	PROPN
cblr-1711	467	9	27	27	NUM
cblr-1711	467	10	,	,	PUNCT
cblr-1711	467	11	2018	2018	NUM
cblr-1711	467	12	)	)	PUNCT
cblr-1711	467	13	.	.	PUNCT
cblr-1711	468	1	195	195	NUM
cblr-1711	468	2	premarket	premarket	NOUN
cblr-1711	468	3	approval	approval	NOUN
cblr-1711	468	4	(	(	PUNCT
cblr-1711	468	5	pma	pma	NOUN
cblr-1711	468	6	)	)	PUNCT
cblr-1711	468	7	,	,	PUNCT
cblr-1711	468	8	u.s	u.s	PROPN
cblr-1711	468	9	.	.	PROPN
cblr-1711	468	10	food	food	PROPN
cblr-1711	468	11	&	&	CCONJ
cblr-1711	468	12	drug	drug	PROPN
cblr-1711	468	13	admin	admin	PROPN
cblr-1711	468	14	.	.	PROPN
cblr-1711	468	15	,	,	PUNCT
cblr-1711	468	16	https://www.fda.gov/medicaldevices/deviceregulationandguidance/	https://www.fda.gov/medicaldevices/deviceregulationandguidance/	PROPN
cblr-1711	468	17	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	468	18	1098	1098	NUM
cblr-1711	468	19	columbia	columbia	PROPN
cblr-1711	468	20	business	business	NOUN
cblr-1711	468	21	law	law	PROPN
cblr-1711	468	22	review	review	NOUN
cblr-1711	468	23	[	[	X
cblr-1711	468	24	vol	vol	NOUN
cblr-1711	468	25	.	.	NOUN
cblr-1711	468	26	2018	2018	NUM
cblr-1711	468	27	for	for	ADP
cblr-1711	468	28	medical	medical	ADJ
cblr-1711	468	29	devices,196	devices,196	NOUN
cblr-1711	468	30	and	and	CCONJ
cblr-1711	468	31	it	it	PRON
cblr-1711	468	32	involves	involve	VERB
cblr-1711	468	33	both	both	CCONJ
cblr-1711	468	34	analytical	analytical	ADJ
cblr-1711	468	35	and	and	CCONJ
cblr-1711	468	36	clinical	clinical	ADJ
cblr-1711	468	37	validation	validation	NOUN
cblr-1711	468	38	—	—	PUNCT
cblr-1711	468	39	ensuring	ensure	VERB
cblr-1711	468	40	that	that	SCONJ
cblr-1711	468	41	the	the	DET
cblr-1711	468	42	laboratory	laboratory	NOUN
cblr-1711	468	43	test	test	NOUN
cblr-1711	468	44	can	can	AUX
cblr-1711	468	45	accurately	accurately	ADV
cblr-1711	468	46	identify	identify	VERB
cblr-1711	468	47	a	a	DET
cblr-1711	468	48	sample	sample	NOUN
cblr-1711	468	49	(	(	PUNCT
cblr-1711	468	50	analytical	analytical	ADJ
cblr-1711	468	51	validation	validation	NOUN
cblr-1711	468	52	)	)	PUNCT
cblr-1711	468	53	and	and	CCONJ
cblr-1711	468	54	can	can	AUX
cblr-1711	468	55	correctly	correctly	ADV
cblr-1711	468	56	link	link	VERB
cblr-1711	468	57	the	the	DET
cblr-1711	468	58	sample	sample	NOUN
cblr-1711	468	59	to	to	ADP
cblr-1711	468	60	a	a	DET
cblr-1711	468	61	specific	specific	ADJ
cblr-1711	468	62	disease	disease	NOUN
cblr-1711	468	63	or	or	CCONJ
cblr-1711	468	64	clinical	clinical	ADJ
cblr-1711	468	65	action	action	NOUN
cblr-1711	468	66	(	(	PUNCT
cblr-1711	468	67	clinical	clinical	ADJ
cblr-1711	468	68	validation).197	validation).197	NOUN
cblr-1711	468	69	regulations	regulation	NOUN
cblr-1711	468	70	provide	provide	VERB
cblr-1711	468	71	180	180	NUM
cblr-1711	468	72	days	day	NOUN
cblr-1711	468	73	for	for	SCONJ
cblr-1711	468	74	the	the	DET
cblr-1711	468	75	fda	fda	PROPN
cblr-1711	468	76	to	to	PART
cblr-1711	468	77	make	make	VERB
cblr-1711	468	78	a	a	DET
cblr-1711	468	79	determination	determination	NOUN
cblr-1711	468	80	,	,	PUNCT
cblr-1711	468	81	though	though	SCONJ
cblr-1711	468	82	in	in	ADP
cblr-1711	468	83	practice	practice	NOUN
cblr-1711	468	84	the	the	DET
cblr-1711	468	85	review	review	NOUN
cblr-1711	468	86	process	process	NOUN
cblr-1711	468	87	may	may	AUX
cblr-1711	468	88	take	take	VERB
cblr-1711	468	89	longer.198	longer.198	VERB
cblr-1711	468	90	the	the	DET
cblr-1711	468	91	review	review	NOUN
cblr-1711	468	92	process	process	NOUN
cblr-1711	468	93	can	can	AUX
cblr-1711	468	94	include	include	VERB
cblr-1711	468	95	a	a	DET
cblr-1711	468	96	public	public	ADJ
cblr-1711	468	97	meeting	meeting	NOUN
cblr-1711	468	98	with	with	ADP
cblr-1711	468	99	an	an	DET
cblr-1711	468	100	fda	fda	PROPN
cblr-1711	468	101	advisory	advisory	PROPN
cblr-1711	468	102	committee	committee	NOUN
cblr-1711	468	103	providing	provide	VERB
cblr-1711	468	104	recommendations	recommendation	NOUN
cblr-1711	468	105	,	,	PUNCT
cblr-1711	468	106	and	and	CCONJ
cblr-1711	468	107	after	after	ADP
cblr-1711	468	108	the	the	DET
cblr-1711	468	109	fda	fda	PROPN
cblr-1711	468	110	notifies	notifie	NOUN
cblr-1711	468	111	the	the	DET
cblr-1711	468	112	applicant	applicant	NOUN
cblr-1711	468	113	of	of	ADP
cblr-1711	468	114	its	its	PRON
cblr-1711	468	115	decision	decision	NOUN
cblr-1711	468	116	,	,	PUNCT
cblr-1711	468	117	a	a	DET
cblr-1711	468	118	notice	notice	NOUN
cblr-1711	468	119	is	be	AUX
cblr-1711	468	120	published	publish	VERB
cblr-1711	468	121	on	on	ADP
cblr-1711	468	122	the	the	DET
cblr-1711	468	123	internet	internet	NOUN
cblr-1711	468	124	announcing	announce	VERB
cblr-1711	468	125	the	the	DET
cblr-1711	468	126	data	datum	NOUN
cblr-1711	468	127	underlying	underlie	VERB
cblr-1711	468	128	the	the	DET
cblr-1711	468	129	decision	decision	NOUN
cblr-1711	468	130	and	and	CCONJ
cblr-1711	468	131	the	the	DET
cblr-1711	468	132	process	process	NOUN
cblr-1711	468	133	by	by	ADP
cblr-1711	468	134	which	which	PRON
cblr-1711	468	135	interested	interested	ADJ
cblr-1711	468	136	persons	person	NOUN
cblr-1711	468	137	can	can	AUX
cblr-1711	468	138	petition	petition	VERB
cblr-1711	468	139	for	for	ADP
cblr-1711	468	140	reconsideration.199	reconsideration.199	NOUN
cblr-1711	468	141	fda	fda	PROPN
cblr-1711	468	142	review	review	NOUN
cblr-1711	468	143	of	of	ADP
cblr-1711	468	144	the	the	DET
cblr-1711	468	145	pma	pma	NOUN
cblr-1711	468	146	is	be	AUX
cblr-1711	468	147	required	require	VERB
cblr-1711	468	148	before	before	SCONJ
cblr-1711	468	149	class	class	NOUN
cblr-1711	468	150	iii	iii	PROPN
cblr-1711	468	151	devices	device	NOUN
cblr-1711	468	152	may	may	AUX
cblr-1711	468	153	be	be	AUX
cblr-1711	468	154	marketed	market	VERB
cblr-1711	468	155	,	,	PUNCT
cblr-1711	468	156	but	but	CCONJ
cblr-1711	468	157	other	other	ADJ
cblr-1711	468	158	regulatory	regulatory	ADJ
cblr-1711	468	159	mechanisms	mechanism	NOUN
cblr-1711	468	160	are	be	AUX
cblr-1711	468	161	still	still	ADV
cblr-1711	468	162	in	in	ADP
cblr-1711	468	163	place	place	NOUN
cblr-1711	468	164	for	for	ADP
cblr-1711	468	165	less	less	ADV
cblr-1711	468	166	risky	risky	ADJ
cblr-1711	468	167	medical	medical	ADJ
cblr-1711	468	168	devices.200	devices.200	VERB
cblr-1711	468	169	those	those	PRON
cblr-1711	468	170	who	who	PRON
cblr-1711	468	171	desire	desire	VERB
cblr-1711	468	172	to	to	PART
cblr-1711	468	173	market	market	VERB
cblr-1711	468	174	other	other	ADJ
cblr-1711	468	175	medical	medical	ADJ
cblr-1711	468	176	devices	device	NOUN
cblr-1711	468	177	intended	intend	VERB
cblr-1711	468	178	for	for	ADP
cblr-1711	468	179	human	human	ADJ
cblr-1711	468	180	use	use	NOUN
cblr-1711	468	181	—	—	PUNCT
cblr-1711	468	182	class	class	NOUN
cblr-1711	468	183	i	i	PROPN
cblr-1711	468	184	,	,	PUNCT
cblr-1711	468	185	ii	ii	PROPN
cblr-1711	468	186	,	,	PUNCT
cblr-1711	468	187	or	or	CCONJ
cblr-1711	469	1	iii	iii	NUM
cblr-1711	469	2	devices	device	NOUN
cblr-1711	469	3	exempted	exempt	VERB
cblr-1711	469	4	from	from	ADP
cblr-1711	469	5	pma	pma	NOUN
cblr-1711	469	6	—	—	PUNCT
cblr-1711	469	7	must	must	AUX
cblr-1711	469	8	submit	submit	VERB
cblr-1711	469	9	a	a	DET
cblr-1711	469	10	premarket	premarket	NOUN
cblr-1711	469	11	notification	notification	NOUN
cblr-1711	469	12	510(k	510(k	NOUN
cblr-1711	469	13	)	)	PUNCT
cblr-1711	469	14	to	to	ADP
cblr-1711	469	15	the	the	DET
cblr-1711	469	16	fda.201	fda.201	NOUN
cblr-1711	469	17	the	the	DET
cblr-1711	469	18	510(k	510(k	PROPN
cblr-1711	469	19	)	)	PUNCT
cblr-1711	469	20	submission	submission	NOUN
cblr-1711	469	21	must	must	AUX
cblr-1711	469	22	demonstrate	demonstrate	VERB
cblr-1711	469	23	that	that	SCONJ
cblr-1711	469	24	the	the	DET
cblr-1711	469	25	device	device	NOUN
cblr-1711	469	26	is	be	AUX
cblr-1711	469	27	substantially	substantially	ADV
cblr-1711	469	28	equivalent	equivalent	ADJ
cblr-1711	469	29	to	to	PART
cblr-1711	469	30	—	—	PUNCT
cblr-1711	469	31	at	at	ADP
cblr-1711	469	32	least	least	ADJ
cblr-1711	469	33	as	as	ADV
cblr-1711	469	34	safe	safe	ADJ
cblr-1711	469	35	and	and	CCONJ
cblr-1711	469	36	effective	effective	ADJ
cblr-1711	469	37	as	as	ADP
cblr-1711	469	38	—	—	PUNCT
cblr-1711	469	39	a	a	DET
cblr-1711	469	40	legally	legally	ADV
cblr-1711	469	41	marketed	market	VERB
cblr-1711	469	42	device	device	NOUN
cblr-1711	469	43	,	,	PUNCT
cblr-1711	469	44	and	and	CCONJ
cblr-1711	469	45	before	before	SCONJ
cblr-1711	469	46	the	the	DET
cblr-1711	469	47	device	device	NOUN
cblr-1711	469	48	can	can	AUX
cblr-1711	469	49	be	be	AUX
cblr-1711	469	50	marketed	market	VERB
cblr-1711	469	51	,	,	PUNCT
cblr-1711	469	52	the	the	DET
cblr-1711	469	53	fda	fda	PROPN
cblr-1711	469	54	must	must	AUX
cblr-1711	469	55	find	find	VERB
cblr-1711	469	56	it	it	PRON
cblr-1711	469	57	to	to	PART
cblr-1711	469	58	be	be	AUX
cblr-1711	469	59	so	so	ADV
cblr-1711	469	60	and	and	CCONJ
cblr-1711	469	61	provide	provide	VERB
cblr-1711	469	62	an	an	DET
cblr-1711	469	63	order	order	NOUN
cblr-1711	469	64	clearing	clear	VERB
cblr-1711	469	65	the	the	DET
cblr-1711	469	66	device	device	NOUN
cblr-1711	469	67	for	for	ADP
cblr-1711	469	68	commercial	commercial	ADJ
cblr-1711	469	69	distribution.202	distribution.202	PROPN
cblr-1711	469	70	the	the	DET
cblr-1711	469	71	pma	pma	NOUN
cblr-1711	469	72	and	and	CCONJ
cblr-1711	469	73	510(k	510(k	PROPN
cblr-1711	469	74	)	)	PUNCT
cblr-1711	469	75	measures	measure	NOUN
cblr-1711	469	76	are	be	AUX
cblr-1711	469	77	protections	protection	NOUN
cblr-1711	469	78	for	for	ADP
cblr-1711	469	79	consumers	consumer	NOUN
cblr-1711	469	80	that	that	PRON
cblr-1711	469	81	can	can	AUX
cblr-1711	469	82	be	be	AUX
cblr-1711	469	83	utilized	utilize	VERB
cblr-1711	469	84	for	for	ADP
cblr-1711	469	85	investor	investor	NOUN
cblr-1711	469	86	protection	protection	NOUN
cblr-1711	469	87	as	as	ADV
cblr-1711	469	88	well	well	ADV
cblr-1711	469	89	,	,	PUNCT
cblr-1711	469	90	if	if	SCONJ
cblr-1711	469	91	made	make	VERB
cblr-1711	469	92	readily	readily	ADV
cblr-1711	469	93	available	available	ADJ
cblr-1711	469	94	howtomarketyourdevice	howtomarketyourdevice	NOUN
cblr-1711	469	95	/	/	SYM
cblr-1711	469	96	premarketsubmissions	premarketsubmission	NOUN
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cblr-1711	469	98	premarketapprovalpma	premarketapprovalpma	NOUN
cblr-1711	469	99	/default.htm	/default.htm	PUNCT
cblr-1711	470	1	[	[	X
cblr-1711	470	2	https://perma.cc/nrf3-2duq	https://perma.cc/nrf3-2duq	X
cblr-1711	470	3	]	]	X
cblr-1711	470	4	(	(	PUNCT
cblr-1711	470	5	last	last	ADJ
cblr-1711	470	6	updated	update	VERB
cblr-1711	470	7	sept	sept	PROPN
cblr-1711	470	8	.	.	PROPN
cblr-1711	470	9	27	27	NUM
cblr-1711	470	10	,	,	PUNCT
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cblr-1711	470	13	.	.	PUNCT
cblr-1711	471	1	196	196	NUM
cblr-1711	472	1	i	i	PRON
cblr-1711	472	2	d.	d.	PROPN
cblr-1711	472	3	197	197	NUM
cblr-1711	472	4	kwon	kwon	PROPN
cblr-1711	472	5	,	,	PUNCT
cblr-1711	472	6	supra	supra	PROPN
cblr-1711	472	7	note	note	NOUN
cblr-1711	472	8	193	193	NUM
cblr-1711	472	9	,	,	PUNCT
cblr-1711	472	10	at	at	ADP
cblr-1711	472	11	938	938	NUM
cblr-1711	472	12	.	.	PUNCT
cblr-1711	473	1	198	198	NUM
cblr-1711	473	2	premarket	premarket	NOUN
cblr-1711	473	3	approval	approval	NOUN
cblr-1711	473	4	(	(	PUNCT
cblr-1711	473	5	pma	pma	NOUN
cblr-1711	473	6	)	)	PUNCT
cblr-1711	473	7	,	,	PUNCT
cblr-1711	473	8	supra	supra	PROPN
cblr-1711	473	9	note	note	VERB
cblr-1711	473	10	195	195	NUM
cblr-1711	473	11	.	.	NOUN
cblr-1711	473	12	199	199	NUM
cblr-1711	474	1	i	i	NOUN
cblr-1711	474	2	d.	d.	PROPN
cblr-1711	474	3	200	200	NUM
cblr-1711	475	1	i	i	PROPN
cblr-1711	475	2	d.	d.	PROPN
cblr-1711	475	3	201	201	NUM
cblr-1711	475	4	premarket	premarket	NOUN
cblr-1711	475	5	notification	notification	NOUN
cblr-1711	475	6	510(k	510(k	PROPN
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cblr-1711	475	8	,	,	PUNCT
cblr-1711	475	9	u.s	u.s	PROPN
cblr-1711	475	10	.	.	PROPN
cblr-1711	475	11	food	food	PROPN
cblr-1711	475	12	&	&	CCONJ
cblr-1711	475	13	drug	drug	PROPN
cblr-1711	475	14	admin	admin	PROPN
cblr-1711	475	15	.	.	PROPN
cblr-1711	475	16	,	,	PUNCT
cblr-1711	475	17	https://www.fda.gov/medicaldevices/deviceregulationandguidance/	https://www.fda.gov/medicaldevices/deviceregulationandguidance/	PROPN
cblr-1711	475	18	howtomarketyourdevice	howtomarketyourdevice	NOUN
cblr-1711	475	19	/	/	SYM
cblr-1711	475	20	premarketsubmissions	premarketsubmission	NOUN
cblr-1711	475	21	/	/	SYM
cblr-1711	475	22	premarketnotification5	premarketnotification5	ADJ
cblr-1711	475	23	10k	10k	NOUN
cblr-1711	475	24	/	/	SYM
cblr-1711	475	25	default.htm	default.htm	X
cblr-1711	476	1	[	[	X
cblr-1711	476	2	https://perma.cc/tl2b-ughw	https://perma.cc/tl2b-ughw	ADP
cblr-1711	476	3	]	]	X
cblr-1711	476	4	(	(	PUNCT
cblr-1711	476	5	last	last	ADJ
cblr-1711	476	6	updated	update	VERB
cblr-1711	476	7	sept	sept	PROPN
cblr-1711	476	8	.	.	PROPN
cblr-1711	476	9	27	27	NUM
cblr-1711	476	10	,	,	PUNCT
cblr-1711	476	11	2018	2018	NUM
cblr-1711	476	12	)	)	PUNCT
cblr-1711	476	13	.	.	PUNCT
cblr-1711	477	1	202	202	NUM
cblr-1711	478	1	i	i	PRON
cblr-1711	478	2	d.	d.	PROPN
cblr-1711	478	3	2018.3_wu_final	2018.3_wu_final	PROPN
cblr-1711	478	4	no	no	NOUN
cblr-1711	478	5	.	.	PUNCT
cblr-1711	479	1	3:1060	3:1060	NUM
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cblr-1711	479	3	biotech	biotech	ADJ
cblr-1711	479	4	crowdfunding	crowdfunding	NOUN
cblr-1711	479	5	1099	1099	NUM
cblr-1711	479	6	through	through	ADP
cblr-1711	479	7	the	the	DET
cblr-1711	479	8	investment	investment	NOUN
cblr-1711	479	9	platform	platform	NOUN
cblr-1711	479	10	through	through	ADP
cblr-1711	479	11	a	a	DET
cblr-1711	479	12	similar	similar	ADJ
cblr-1711	479	13	checkbox	checkbox	NOUN
cblr-1711	479	14	with	with	ADP
cblr-1711	479	15	explanation	explanation	NOUN
cblr-1711	479	16	format	format	NOUN
cblr-1711	479	17	.	.	PUNCT
cblr-1711	480	1	for	for	ADP
cblr-1711	480	2	example	example	NOUN
cblr-1711	480	3	,	,	PUNCT
cblr-1711	480	4	when	when	SCONJ
cblr-1711	480	5	first	first	ADV
cblr-1711	480	6	launched	launch	VERB
cblr-1711	480	7	in	in	ADP
cblr-1711	480	8	2007	2007	NUM
cblr-1711	480	9	,	,	PUNCT
cblr-1711	480	10	the	the	DET
cblr-1711	480	11	dna	dna	PROPN
cblr-1711	480	12	testing	testing	NOUN
cblr-1711	480	13	-	-	PUNCT
cblr-1711	480	14	by	by	ADP
cblr-1711	480	15	-	-	PUNCT
cblr-1711	480	16	mail	mail	NOUN
cblr-1711	480	17	service	service	NOUN
cblr-1711	480	18	23andme	23andme	NUM
cblr-1711	480	19	was	be	AUX
cblr-1711	480	20	lauded	laud	VERB
cblr-1711	480	21	in	in	ADP
cblr-1711	480	22	the	the	DET
cblr-1711	480	23	biotech	biotech	ADJ
cblr-1711	480	24	sector	sector	NOUN
cblr-1711	480	25	—	—	PUNCT
cblr-1711	480	26	receiving	receive	VERB
cblr-1711	480	27	a	a	DET
cblr-1711	480	28	similar	similar	ADJ
cblr-1711	480	29	initial	initial	ADJ
cblr-1711	480	30	reaction	reaction	NOUN
cblr-1711	480	31	as	as	ADP
cblr-1711	480	32	theranos	therano	NOUN
cblr-1711	480	33	—	—	PUNCT
cblr-1711	480	34	as	as	ADP
cblr-1711	480	35	a	a	DET
cblr-1711	480	36	transformative	transformative	ADJ
cblr-1711	480	37	technology	technology	NOUN
cblr-1711	480	38	that	that	PRON
cblr-1711	480	39	allowed	allow	VERB
cblr-1711	480	40	individuals	individual	NOUN
cblr-1711	480	41	to	to	PART
cblr-1711	480	42	obtain	obtain	VERB
cblr-1711	480	43	a	a	DET
cblr-1711	480	44	complete	complete	ADJ
cblr-1711	480	45	dna	dna	NOUN
cblr-1711	480	46	report	report	NOUN
cblr-1711	480	47	of	of	ADP
cblr-1711	480	48	health	health	NOUN
cblr-1711	480	49	,	,	PUNCT
cblr-1711	480	50	hereditary	hereditary	ADJ
cblr-1711	480	51	traits	trait	NOUN
cblr-1711	480	52	,	,	PUNCT
cblr-1711	480	53	and	and	CCONJ
cblr-1711	480	54	ancestry.203	ancestry.203	PROPN
cblr-1711	480	55	but	but	CCONJ
cblr-1711	480	56	in	in	ADP
cblr-1711	480	57	2013	2013	NUM
cblr-1711	480	58	,	,	PUNCT
cblr-1711	480	59	the	the	DET
cblr-1711	480	60	fda	fda	PROPN
cblr-1711	480	61	imposed	impose	VERB
cblr-1711	480	62	a	a	DET
cblr-1711	480	63	moratorium	moratorium	NOUN
cblr-1711	480	64	on	on	ADP
cblr-1711	480	65	marketing	market	VERB
cblr-1711	480	66	the	the	DET
cblr-1711	480	67	test	test	NOUN
cblr-1711	480	68	by	by	ADP
cblr-1711	480	69	constraining	constrain	VERB
cblr-1711	480	70	it	it	PRON
cblr-1711	480	71	as	as	ADP
cblr-1711	480	72	a	a	DET
cblr-1711	480	73	diagnostic	diagnostic	ADJ
cblr-1711	480	74	device	device	NOUN
cblr-1711	480	75	subject	subject	ADJ
cblr-1711	480	76	to	to	ADP
cblr-1711	480	77	the	the	DET
cblr-1711	480	78	class	class	NOUN
cblr-1711	480	79	iii	iii	PROPN
cblr-1711	480	80	stringent	stringent	NOUN
cblr-1711	480	81	pma	pma	NOUN
cblr-1711	480	82	validation	validation	NOUN
cblr-1711	480	83	standards.204	standards.204	PROPN
cblr-1711	480	84	the	the	DET
cblr-1711	480	85	fda	fda	PROPN
cblr-1711	480	86	warning	warning	NOUN
cblr-1711	480	87	and	and	CCONJ
cblr-1711	480	88	restriction	restriction	NOUN
cblr-1711	480	89	on	on	ADP
cblr-1711	480	90	23andme	23andme	PROPN
cblr-1711	480	91	’s	’s	PART
cblr-1711	480	92	marketing	marketing	NOUN
cblr-1711	480	93	(	(	PUNCT
cblr-1711	480	94	which	which	PRON
cblr-1711	480	95	would	would	AUX
cblr-1711	480	96	extend	extend	VERB
cblr-1711	480	97	until	until	SCONJ
cblr-1711	480	98	it	it	PRON
cblr-1711	480	99	had	have	AUX
cblr-1711	480	100	undergone	undergo	VERB
cblr-1711	480	101	the	the	DET
cblr-1711	480	102	necessary	necessary	ADJ
cblr-1711	480	103	approvals	approval	NOUN
cblr-1711	480	104	)	)	PUNCT
cblr-1711	480	105	proved	prove	VERB
cblr-1711	480	106	to	to	PART
cblr-1711	480	107	be	be	AUX
cblr-1711	480	108	surmountable	surmountable	ADJ
cblr-1711	480	109	,	,	PUNCT
cblr-1711	480	110	though	though	ADV
cblr-1711	480	111	,	,	PUNCT
cblr-1711	480	112	as	as	SCONJ
cblr-1711	480	113	23andme	23andme	NUM
cblr-1711	480	114	has	have	AUX
cblr-1711	480	115	since	since	SCONJ
cblr-1711	480	116	undergone	undergo	VERB
cblr-1711	480	117	another	another	DET
cblr-1711	480	118	round	round	NOUN
cblr-1711	480	119	of	of	ADP
cblr-1711	480	120	funding	funding	NOUN
cblr-1711	480	121	upon	upon	SCONJ
cblr-1711	480	122	receiving	receive	VERB
cblr-1711	480	123	approval.205	approval.205	NOUN
cblr-1711	480	124	the	the	DET
cblr-1711	480	125	fda	fda	PROPN
cblr-1711	480	126	lifted	lift	VERB
cblr-1711	480	127	the	the	DET
cblr-1711	480	128	moratorium	moratorium	NOUN
cblr-1711	480	129	in	in	ADP
cblr-1711	480	130	april	april	PROPN
cblr-1711	480	131	2017	2017	NUM
cblr-1711	480	132	,	,	PUNCT
cblr-1711	480	133	after	after	ADP
cblr-1711	480	134	reviewing	review	VERB
cblr-1711	480	135	data	datum	NOUN
cblr-1711	480	136	“	"	PUNCT
cblr-1711	480	137	through	through	ADP
cblr-1711	480	138	the	the	DET
cblr-1711	480	139	de	de	PROPN
cblr-1711	480	140	novo	novo	PROPN
cblr-1711	480	141	premarket	premarket	PROPN
cblr-1711	480	142	review	review	NOUN
cblr-1711	480	143	pathway	pathway	NOUN
cblr-1711	480	144	,	,	PUNCT
cblr-1711	480	145	a	a	DET
cblr-1711	480	146	regulatory	regulatory	ADJ
cblr-1711	480	147	pathway	pathway	NOUN
cblr-1711	480	148	for	for	ADP
cblr-1711	480	149	novel	novel	NOUN
cblr-1711	480	150	,	,	PUNCT
cblr-1711	480	151	low	low	ADJ
cblr-1711	480	152	-	-	PUNCT
cblr-1711	480	153	tomoderate	tomoderate	ADJ
cblr-1711	480	154	-	-	PUNCT
cblr-1711	480	155	risk	risk	NOUN
cblr-1711	480	156	devices	device	NOUN
cblr-1711	480	157	that	that	PRON
cblr-1711	480	158	are	be	AUX
cblr-1711	480	159	not	not	PART
cblr-1711	480	160	substantially	substantially	ADV
cblr-1711	480	161	equivalent	equivalent	ADJ
cblr-1711	480	162	to	to	ADP
cblr-1711	480	163	an	an	DET
cblr-1711	480	164	already	already	ADV
cblr-1711	480	165	legally	legally	ADV
cblr-1711	480	166	marketed	market	VERB
cblr-1711	480	167	device	device	NOUN
cblr-1711	480	168	.	.	PUNCT
cblr-1711	481	1	”206	”206	PUNCT
cblr-1711	481	2	“	"	PUNCT
cblr-1711	481	3	the	the	DET
cblr-1711	481	4	decision	decision	NOUN
cblr-1711	481	5	is	be	AUX
cblr-1711	481	6	expected	expect	VERB
cblr-1711	481	7	to	to	PART
cblr-1711	481	8	open	open	VERB
cblr-1711	481	9	the	the	DET
cblr-1711	481	10	floodgates	floodgate	NOUN
cblr-1711	481	11	for	for	ADP
cblr-1711	481	12	more	more	ADJ
cblr-1711	481	13	direct	direct	ADJ
cblr-1711	481	14	-	-	PUNCT
cblr-1711	481	15	to	to	ADP
cblr-1711	481	16	-	-	PUNCT
cblr-1711	481	17	consumer	consumer	NOUN
cblr-1711	481	18	203	203	NUM
cblr-1711	481	19	see	see	NOUN
cblr-1711	481	20	,	,	PUNCT
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cblr-1711	481	22	,	,	PUNCT
cblr-1711	481	23	larry	larry	PROPN
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cblr-1711	481	27	nunes	nunes	PROPN
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cblr-1711	481	32	n’t	not	PART
cblr-1711	481	33	stop	stop	VERB
cblr-1711	481	34	the	the	DET
cblr-1711	481	35	new	new	ADJ
cblr-1711	481	36	age	age	NOUN
cblr-1711	481	37	of	of	ADP
cblr-1711	481	38	genetic	genetic	ADJ
cblr-1711	481	39	testing	testing	NOUN
cblr-1711	481	40	,	,	PUNCT
cblr-1711	481	41	wired	wire	VERB
cblr-1711	481	42	(	(	PUNCT
cblr-1711	481	43	jan	jan	PROPN
cblr-1711	481	44	.	.	PROPN
cblr-1711	481	45	1	1	NUM
cblr-1711	481	46	,	,	PUNCT
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cblr-1711	481	48	,	,	PUNCT
cblr-1711	481	49	6:30	6:30	NUM
cblr-1711	481	50	am	am	NOUN
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cblr-1711	482	1	[	[	X
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cblr-1711	482	4	.	.	PUNCT
cblr-1711	483	1	204	204	NUM
cblr-1711	483	2	julia	julia	PROPN
cblr-1711	483	3	belluz	belluz	NOUN
cblr-1711	483	4	,	,	PUNCT
cblr-1711	483	5	in	in	ADP
cblr-1711	483	6	an	an	DET
cblr-1711	483	7	amazing	amazing	ADJ
cblr-1711	483	8	turnaround	turnaround	NOUN
cblr-1711	483	9	,	,	PUNCT
cblr-1711	483	10	23andme	23andme	NUM
cblr-1711	483	11	wins	win	VERB
cblr-1711	483	12	fda	fda	PROPN
cblr-1711	483	13	approval	approval	NOUN
cblr-1711	483	14	for	for	ADP
cblr-1711	483	15	its	its	PRON
cblr-1711	483	16	genetic	genetic	ADJ
cblr-1711	483	17	tests	test	NOUN
cblr-1711	483	18	,	,	PUNCT
cblr-1711	483	19	vox	vox	PROPN
cblr-1711	483	20	(	(	PUNCT
cblr-1711	483	21	apr	apr	PROPN
cblr-1711	483	22	.	.	PROPN
cblr-1711	483	23	6	6	NUM
cblr-1711	483	24	,	,	PUNCT
cblr-1711	483	25	2017	2017	NUM
cblr-1711	483	26	,	,	PUNCT
cblr-1711	483	27	1:19	1:19	NUM
cblr-1711	483	28	pm	pm	NOUN
cblr-1711	483	29	)	)	PUNCT
cblr-1711	483	30	,	,	PUNCT
cblr-1711	483	31	https://www.vox.com/2017/4/6/15207604/23andme-wins-fda-approval-forits-genetic-tests	https://www.vox.com/2017/4/6/15207604/23andme-wins-fda-approval-forits-genetic-test	VERB
cblr-1711	483	32	[	[	X
cblr-1711	483	33	https://perma.cc/8rpq-yksq	https://perma.cc/8rpq-yksq	X
cblr-1711	483	34	]	]	X
cblr-1711	483	35	;	;	PUNCT
cblr-1711	483	36	downes	downes	PROPN
cblr-1711	483	37	&	&	CCONJ
cblr-1711	483	38	nunes	nunes	PROPN
cblr-1711	483	39	,	,	PUNCT
cblr-1711	483	40	supra	supra	PROPN
cblr-1711	483	41	note	note	NOUN
cblr-1711	483	42	203	203	NUM
cblr-1711	483	43	;	;	PUNCT
cblr-1711	483	44	gina	gina	PROPN
cblr-1711	483	45	kolata	kolata	PROPN
cblr-1711	483	46	,	,	PUNCT
cblr-1711	483	47	f.d.a	f.d.a	NOUN
cblr-1711	483	48	.	.	PROPN
cblr-1711	483	49	will	will	AUX
cblr-1711	483	50	allow	allow	VERB
cblr-1711	483	51	23andme	23andme	NOUN
cblr-1711	483	52	to	to	PART
cblr-1711	483	53	sell	sell	VERB
cblr-1711	483	54	genetic	genetic	ADJ
cblr-1711	483	55	tests	test	NOUN
cblr-1711	483	56	for	for	ADP
cblr-1711	483	57	disease	disease	NOUN
cblr-1711	483	58	risk	risk	NOUN
cblr-1711	483	59	to	to	ADP
cblr-1711	483	60	consumers	consumer	NOUN
cblr-1711	483	61	,	,	PUNCT
cblr-1711	483	62	n.y	n.y	PROPN
cblr-1711	483	63	.	.	PROPN
cblr-1711	483	64	times	times	PROPN
cblr-1711	483	65	(	(	PUNCT
cblr-1711	483	66	apr	apr	PROPN
cblr-1711	483	67	.	.	PROPN
cblr-1711	483	68	6	6	NUM
cblr-1711	483	69	,	,	PUNCT
cblr-1711	483	70	2017	2017	NUM
cblr-1711	483	71	)	)	PUNCT
cblr-1711	483	72	,	,	PUNCT
cblr-1711	483	73	https://www.nytimes.com/2017/04/06/health/fda-genetic-tests23andme.html	https://www.nytimes.com/2017/04/06/health/fda-genetic-tests23andme.html	PROPN
cblr-1711	483	74	[	[	X
cblr-1711	483	75	https://perma.cc/bv2l-ju9r	https://perma.cc/bv2l-ju9r	X
cblr-1711	483	76	]	]	PUNCT
cblr-1711	483	77	;	;	PUNCT
cblr-1711	483	78	see	see	VERB
cblr-1711	483	79	also	also	ADV
cblr-1711	483	80	lapowsky	lapowsky	ADJ
cblr-1711	483	81	,	,	PUNCT
cblr-1711	483	82	supra	supra	PROPN
cblr-1711	483	83	note	note	PROPN
cblr-1711	483	84	160	160	NUM
cblr-1711	483	85	.	.	NOUN
cblr-1711	483	86	205	205	NUM
cblr-1711	483	87	lapowsky	lapowsky	ADJ
cblr-1711	483	88	,	,	PUNCT
cblr-1711	483	89	supra	supra	PROPN
cblr-1711	483	90	note	note	PROPN
cblr-1711	483	91	160	160	NUM
cblr-1711	483	92	.	.	NOUN
cblr-1711	483	93	206	206	NUM
cblr-1711	483	94	press	press	NOUN
cblr-1711	483	95	release	release	NOUN
cblr-1711	483	96	,	,	PUNCT
cblr-1711	483	97	u.s	u.s	PROPN
cblr-1711	483	98	.	.	PROPN
cblr-1711	483	99	food	food	PROPN
cblr-1711	483	100	&	&	CCONJ
cblr-1711	483	101	drug	drug	PROPN
cblr-1711	483	102	admin	admin	PROPN
cblr-1711	483	103	.	.	PROPN
cblr-1711	483	104	,	,	PUNCT
cblr-1711	483	105	fda	fda	PROPN
cblr-1711	483	106	allows	allow	VERB
cblr-1711	483	107	marketing	marketing	NOUN
cblr-1711	483	108	of	of	ADP
cblr-1711	483	109	first	first	ADJ
cblr-1711	483	110	direct	direct	VERB
cblr-1711	483	111	-	-	PUNCT
cblr-1711	483	112	to	to	ADP
cblr-1711	483	113	-	-	PUNCT
cblr-1711	483	114	consumer	consumer	NOUN
cblr-1711	483	115	tests	test	NOUN
cblr-1711	483	116	that	that	PRON
cblr-1711	483	117	provide	provide	VERB
cblr-1711	483	118	genetic	genetic	ADJ
cblr-1711	483	119	risk	risk	NOUN
cblr-1711	483	120	information	information	NOUN
cblr-1711	483	121	for	for	ADP
cblr-1711	483	122	certain	certain	ADJ
cblr-1711	483	123	conditions	condition	NOUN
cblr-1711	483	124	(	(	PUNCT
cblr-1711	483	125	apr	apr	NOUN
cblr-1711	483	126	.	.	PROPN
cblr-1711	483	127	6	6	NUM
cblr-1711	483	128	,	,	PUNCT
cblr-1711	483	129	2017	2017	NUM
cblr-1711	483	130	)	)	PUNCT
cblr-1711	484	1	[	[	X
cblr-1711	484	2	hereinafter	hereinafter	NOUN
cblr-1711	484	3	fda	fda	PROPN
cblr-1711	484	4	allows	allow	VERB
cblr-1711	484	5	marketing	marketing	NOUN
cblr-1711	484	6	of	of	ADP
cblr-1711	484	7	first	first	ADJ
cblr-1711	484	8	direct	direct	VERB
cblr-1711	484	9	-	-	PUNCT
cblr-1711	484	10	to	to	ADP
cblr-1711	484	11	-	-	PUNCT
cblr-1711	484	12	consumer	consumer	NOUN
cblr-1711	484	13	tests	test	NOUN
cblr-1711	484	14	]	]	PUNCT
cblr-1711	484	15	,	,	PUNCT
cblr-1711	484	16	https://www.fda.gov/newsevents/	https://www.fda.gov/newsevents/	ADP
cblr-1711	484	17	newsroom	newsroom	NOUN
cblr-1711	484	18	/	/	SYM
cblr-1711	484	19	pressannouncements	pressannouncement	NOUN
cblr-1711	484	20	/	/	SYM
cblr-1711	484	21	ucm551185.htm	ucm551185.htm	PROPN
cblr-1711	485	1	[	[	X
cblr-1711	485	2	https://perma.cc/5yny37h7	https://perma.cc/5yny37h7	X
cblr-1711	485	3	]	]	X
cblr-1711	485	4	.	.	PUNCT
cblr-1711	486	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	486	2	1100	1100	NUM
cblr-1711	486	3	columbia	columbia	PROPN
cblr-1711	486	4	business	business	NOUN
cblr-1711	486	5	law	law	PROPN
cblr-1711	486	6	review	review	NOUN
cblr-1711	486	7	[	[	X
cblr-1711	486	8	vol	vol	NOUN
cblr-1711	486	9	.	.	PUNCT
cblr-1711	486	10	2018	2018	NUM
cblr-1711	486	11	tests	test	NOUN
cblr-1711	486	12	for	for	ADP
cblr-1711	486	13	disease	disease	NOUN
cblr-1711	486	14	risks	risk	NOUN
cblr-1711	486	15	,	,	PUNCT
cblr-1711	486	16	drawing	draw	VERB
cblr-1711	486	17	a	a	DET
cblr-1711	486	18	road	road	NOUN
cblr-1711	486	19	map	map	NOUN
cblr-1711	486	20	for	for	ADP
cblr-1711	486	21	other	other	ADJ
cblr-1711	486	22	companies	company	NOUN
cblr-1711	486	23	to	to	PART
cblr-1711	486	24	do	do	VERB
cblr-1711	486	25	the	the	DET
cblr-1711	486	26	same	same	ADJ
cblr-1711	486	27	thing	thing	NOUN
cblr-1711	486	28	.	.	PUNCT
cblr-1711	486	29	”207	”207	VERB
cblr-1711	486	30	additional	additional	ADJ
cblr-1711	486	31	tests	test	NOUN
cblr-1711	486	32	based	base	VERB
cblr-1711	486	33	on	on	ADP
cblr-1711	486	34	the	the	DET
cblr-1711	486	35	same	same	ADJ
cblr-1711	486	36	technology	technology	NOUN
cblr-1711	486	37	submitted	submit	VERB
cblr-1711	486	38	by	by	ADP
cblr-1711	486	39	23andme	23andme	NOUN
cblr-1711	486	40	or	or	CCONJ
cblr-1711	486	41	other	other	ADJ
cblr-1711	486	42	manufacturers	manufacturer	NOUN
cblr-1711	486	43	will	will	AUX
cblr-1711	486	44	not	not	PART
cblr-1711	486	45	have	have	VERB
cblr-1711	486	46	to	to	PART
cblr-1711	486	47	undergo	undergo	VERB
cblr-1711	486	48	the	the	DET
cblr-1711	486	49	same	same	ADJ
cblr-1711	486	50	review	review	NOUN
cblr-1711	486	51	,	,	PUNCT
cblr-1711	486	52	but	but	CCONJ
cblr-1711	486	53	instead	instead	ADV
cblr-1711	486	54	will	will	AUX
cblr-1711	486	55	qualify	qualify	VERB
cblr-1711	486	56	for	for	ADP
cblr-1711	486	57	the	the	DET
cblr-1711	486	58	less	less	ADV
cblr-1711	486	59	rigorous	rigorous	ADJ
cblr-1711	486	60	510(k	510(k	PROPN
cblr-1711	486	61	)	)	PUNCT
cblr-1711	486	62	premarket	premarket	NOUN
cblr-1711	486	63	notification	notification	NOUN
cblr-1711	486	64	requirement.208	requirement.208	VERB
cblr-1711	486	65	while	while	SCONJ
cblr-1711	486	66	regulatory	regulatory	ADJ
cblr-1711	486	67	approval	approval	NOUN
cblr-1711	486	68	can	can	AUX
cblr-1711	486	69	halt	halt	VERB
cblr-1711	486	70	marketing	marketing	NOUN
cblr-1711	486	71	,	,	PUNCT
cblr-1711	486	72	worthwhile	worthwhile	ADJ
cblr-1711	486	73	companies	company	NOUN
cblr-1711	486	74	will	will	AUX
cblr-1711	486	75	ultimately	ultimately	ADV
cblr-1711	486	76	be	be	AUX
cblr-1711	486	77	able	able	ADJ
cblr-1711	486	78	to	to	PART
cblr-1711	486	79	surmount	surmount	VERB
cblr-1711	486	80	the	the	DET
cblr-1711	486	81	capital	capital	NOUN
cblr-1711	486	82	and	and	CCONJ
cblr-1711	486	83	timing	timing	NOUN
cblr-1711	486	84	barriers	barrier	NOUN
cblr-1711	486	85	,	,	PUNCT
cblr-1711	486	86	supported	support	VERB
cblr-1711	486	87	by	by	ADP
cblr-1711	486	88	investors	investor	NOUN
cblr-1711	486	89	who	who	PRON
cblr-1711	486	90	know	know	VERB
cblr-1711	486	91	that	that	SCONJ
cblr-1711	486	92	the	the	DET
cblr-1711	486	93	company	company	NOUN
cblr-1711	486	94	is	be	AUX
cblr-1711	486	95	intending	intend	VERB
cblr-1711	486	96	to	to	PART
cblr-1711	486	97	achieve	achieve	VERB
cblr-1711	486	98	,	,	PUNCT
cblr-1711	486	99	rather	rather	ADV
cblr-1711	486	100	than	than	ADP
cblr-1711	486	101	avoid	avoid	VERB
cblr-1711	486	102	,	,	PUNCT
cblr-1711	486	103	fda	fda	PROPN
cblr-1711	486	104	approval	approval	NOUN
cblr-1711	486	105	.	.	PUNCT
cblr-1711	487	1	c.	c.	PROPN
cblr-1711	487	2	patent	patent	NOUN
cblr-1711	487	3	disclosure	disclosure	NOUN
cblr-1711	487	4	in	in	ADP
cblr-1711	487	5	crowdfunding	crowdfunde	VERB
cblr-1711	487	6	patent	patent	NOUN
cblr-1711	487	7	law	law	NOUN
cblr-1711	487	8	also	also	ADV
cblr-1711	487	9	has	have	VERB
cblr-1711	487	10	a	a	DET
cblr-1711	487	11	particularly	particularly	ADV
cblr-1711	487	12	pronounced	pronounced	ADJ
cblr-1711	487	13	effect	effect	NOUN
cblr-1711	487	14	on	on	ADP
cblr-1711	487	15	biotech	biotech	NOUN
cblr-1711	487	16	over	over	ADP
cblr-1711	487	17	other	other	ADJ
cblr-1711	487	18	types	type	NOUN
cblr-1711	487	19	of	of	ADP
cblr-1711	487	20	technology	technology	NOUN
cblr-1711	487	21	.	.	PUNCT
cblr-1711	488	1	in	in	ADP
cblr-1711	488	2	electronics	electronics	NOUN
cblr-1711	488	3	and	and	CCONJ
cblr-1711	488	4	software	software	NOUN
cblr-1711	488	5	,	,	PUNCT
cblr-1711	488	6	the	the	DET
cblr-1711	488	7	value	value	NOUN
cblr-1711	488	8	of	of	ADP
cblr-1711	488	9	patent	patent	NOUN
cblr-1711	488	10	protection	protection	NOUN
cblr-1711	488	11	may	may	AUX
cblr-1711	488	12	be	be	AUX
cblr-1711	488	13	minimal	minimal	ADJ
cblr-1711	488	14	given	give	VERB
cblr-1711	488	15	that	that	DET
cblr-1711	488	16	innovation	innovation	NOUN
cblr-1711	488	17	and	and	CCONJ
cblr-1711	488	18	the	the	DET
cblr-1711	488	19	development	development	NOUN
cblr-1711	488	20	timeline	timeline	NOUN
cblr-1711	488	21	to	to	PART
cblr-1711	488	22	get	get	VERB
cblr-1711	488	23	a	a	DET
cblr-1711	488	24	product	product	NOUN
cblr-1711	488	25	to	to	ADP
cblr-1711	488	26	market	market	NOUN
cblr-1711	488	27	are	be	AUX
cblr-1711	488	28	so	so	ADV
cblr-1711	488	29	fast	fast	ADV
cblr-1711	488	30	-	-	PUNCT
cblr-1711	488	31	paced	pace	VERB
cblr-1711	488	32	that	that	SCONJ
cblr-1711	488	33	patents	patent	NOUN
cblr-1711	488	34	are	be	AUX
cblr-1711	488	35	easily	easily	ADV
cblr-1711	488	36	circumvented	circumvent	VERB
cblr-1711	488	37	.	.	PUNCT
cblr-1711	489	1	however	however	ADV
cblr-1711	489	2	,	,	PUNCT
cblr-1711	489	3	a	a	DET
cblr-1711	489	4	patent	patent	NOUN
cblr-1711	489	5	is	be	AUX
cblr-1711	489	6	crucial	crucial	ADJ
cblr-1711	489	7	to	to	ADP
cblr-1711	489	8	the	the	DET
cblr-1711	489	9	commercial	commercial	ADJ
cblr-1711	489	10	success	success	NOUN
cblr-1711	489	11	of	of	ADP
cblr-1711	489	12	a	a	DET
cblr-1711	489	13	biotech	biotech	ADJ
cblr-1711	489	14	company	company	NOUN
cblr-1711	489	15	,	,	PUNCT
cblr-1711	489	16	where	where	SCONJ
cblr-1711	489	17	developing	develop	VERB
cblr-1711	489	18	and	and	CCONJ
cblr-1711	489	19	launching	launch	VERB
cblr-1711	489	20	a	a	DET
cblr-1711	489	21	product	product	NOUN
cblr-1711	489	22	is	be	AUX
cblr-1711	489	23	much	much	ADV
cblr-1711	489	24	more	more	ADJ
cblr-1711	489	25	time	time	NOUN
cblr-1711	489	26	and	and	CCONJ
cblr-1711	489	27	resource	resource	NOUN
cblr-1711	489	28	intensive	intensive	ADJ
cblr-1711	489	29	due	due	ADJ
cblr-1711	489	30	in	in	ADP
cblr-1711	489	31	part	part	NOUN
cblr-1711	489	32	to	to	ADP
cblr-1711	489	33	the	the	DET
cblr-1711	489	34	research	research	NOUN
cblr-1711	489	35	cycle	cycle	NOUN
cblr-1711	489	36	and	and	CCONJ
cblr-1711	489	37	need	need	VERB
cblr-1711	489	38	for	for	ADP
cblr-1711	489	39	regulatory	regulatory	ADJ
cblr-1711	489	40	approval	approval	NOUN
cblr-1711	489	41	.	.	PUNCT
cblr-1711	490	1	obtaining	obtain	VERB
cblr-1711	490	2	a	a	DET
cblr-1711	490	3	patent	patent	NOUN
cblr-1711	490	4	on	on	ADP
cblr-1711	490	5	a	a	DET
cblr-1711	490	6	medical	medical	ADJ
cblr-1711	490	7	drug	drug	NOUN
cblr-1711	490	8	or	or	CCONJ
cblr-1711	490	9	device	device	NOUN
cblr-1711	490	10	provides	provide	VERB
cblr-1711	490	11	a	a	DET
cblr-1711	490	12	monopoly	monopoly	NOUN
cblr-1711	490	13	for	for	ADP
cblr-1711	490	14	a	a	DET
cblr-1711	490	15	defined	define	VERB
cblr-1711	490	16	market	market	NOUN
cblr-1711	490	17	sector	sector	NOUN
cblr-1711	490	18	—	—	PUNCT
cblr-1711	490	19	or	or	CCONJ
cblr-1711	490	20	specific	specific	ADJ
cblr-1711	490	21	disease	disease	NOUN
cblr-1711	490	22	indication	indication	NOUN
cblr-1711	490	23	—	—	PUNCT
cblr-1711	490	24	for	for	ADP
cblr-1711	490	25	a	a	DET
cblr-1711	490	26	limited	limited	ADJ
cblr-1711	490	27	period	period	NOUN
cblr-1711	490	28	of	of	ADP
cblr-1711	490	29	time	time	NOUN
cblr-1711	490	30	and	and	CCONJ
cblr-1711	490	31	can	can	AUX
cblr-1711	490	32	lead	lead	VERB
cblr-1711	490	33	to	to	ADP
cblr-1711	490	34	enormous	enormous	ADJ
cblr-1711	490	35	profits	profit	NOUN
cblr-1711	490	36	.	.	PUNCT
cblr-1711	491	1	one	one	NUM
cblr-1711	491	2	of	of	ADP
cblr-1711	491	3	the	the	DET
cblr-1711	491	4	primary	primary	ADJ
cblr-1711	491	5	goals	goal	NOUN
cblr-1711	491	6	of	of	ADP
cblr-1711	491	7	the	the	DET
cblr-1711	491	8	patent	patent	NOUN
cblr-1711	491	9	system	system	NOUN
cblr-1711	491	10	,	,	PUNCT
cblr-1711	491	11	in	in	ADP
cblr-1711	491	12	providing	provide	VERB
cblr-1711	491	13	this	this	DET
cblr-1711	491	14	monopoly	monopoly	NOUN
cblr-1711	491	15	,	,	PUNCT
cblr-1711	491	16	is	be	AUX
cblr-1711	491	17	the	the	DET
cblr-1711	491	18	dissemination	dissemination	NOUN
cblr-1711	491	19	of	of	ADP
cblr-1711	491	20	technical	technical	ADJ
cblr-1711	491	21	information	information	NOUN
cblr-1711	491	22	—	—	PUNCT
cblr-1711	491	23	allowing	allow	VERB
cblr-1711	491	24	skilled	skilled	ADJ
cblr-1711	491	25	artisans	artisan	NOUN
cblr-1711	491	26	to	to	PART
cblr-1711	491	27	innovate	innovate	VERB
cblr-1711	491	28	and	and	CCONJ
cblr-1711	491	29	learn	learn	VERB
cblr-1711	491	30	from	from	ADP
cblr-1711	491	31	knowledge	knowledge	NOUN
cblr-1711	491	32	of	of	ADP
cblr-1711	491	33	the	the	DET
cblr-1711	491	34	technical	technical	ADJ
cblr-1711	491	35	details	detail	NOUN
cblr-1711	491	36	of	of	ADP
cblr-1711	491	37	the	the	DET
cblr-1711	491	38	invention	invention	NOUN
cblr-1711	491	39	.	.	PUNCT
cblr-1711	492	1	a	a	DET
cblr-1711	492	2	patent	patent	NOUN
cblr-1711	492	3	can	can	AUX
cblr-1711	492	4	also	also	ADV
cblr-1711	492	5	be	be	AUX
cblr-1711	492	6	used	use	VERB
cblr-1711	492	7	to	to	PART
cblr-1711	492	8	advertise	advertise	VERB
cblr-1711	492	9	and	and	CCONJ
cblr-1711	492	10	promote	promote	VERB
cblr-1711	492	11	useful	useful	ADJ
cblr-1711	492	12	embodiments	embodiment	NOUN
cblr-1711	492	13	of	of	ADP
cblr-1711	492	14	the	the	DET
cblr-1711	492	15	invention	invention	NOUN
cblr-1711	492	16	to	to	ADP
cblr-1711	492	17	those	those	PRON
cblr-1711	492	18	not	not	PART
cblr-1711	492	19	skilled	skilled	ADJ
cblr-1711	492	20	in	in	ADP
cblr-1711	492	21	the	the	DET
cblr-1711	492	22	art	art	NOUN
cblr-1711	492	23	,	,	PUNCT
cblr-1711	492	24	such	such	ADJ
cblr-1711	492	25	as	as	ADP
cblr-1711	492	26	investors,209	investors,209	ADP
cblr-1711	492	27	whether	whether	SCONJ
cblr-1711	492	28	through	through	ADP
cblr-1711	492	29	disclosure	disclosure	NOUN
cblr-1711	492	30	of	of	ADP
cblr-1711	492	31	207	207	NUM
cblr-1711	492	32	kolata	kolata	ADJ
cblr-1711	492	33	,	,	PUNCT
cblr-1711	492	34	supra	supra	ADJ
cblr-1711	492	35	note	note	NOUN
cblr-1711	492	36	204	204	NUM
cblr-1711	492	37	.	.	PUNCT
cblr-1711	493	1	208	208	NUM
cblr-1711	493	2	fda	fda	PROPN
cblr-1711	493	3	allows	allow	VERB
cblr-1711	493	4	marketing	marketing	NOUN
cblr-1711	493	5	of	of	ADP
cblr-1711	493	6	first	first	ADJ
cblr-1711	493	7	direct	direct	VERB
cblr-1711	493	8	-	-	PUNCT
cblr-1711	493	9	to	to	ADP
cblr-1711	493	10	-	-	PUNCT
cblr-1711	493	11	consumer	consumer	NOUN
cblr-1711	493	12	tests	test	NOUN
cblr-1711	493	13	,	,	PUNCT
cblr-1711	493	14	supra	supra	PROPN
cblr-1711	493	15	note	note	NOUN
cblr-1711	493	16	206	206	NUM
cblr-1711	493	17	.	.	PUNCT
cblr-1711	494	1	209	209	NUM
cblr-1711	494	2	j.	j.	PROPN
cblr-1711	494	3	jonas	jonas	PROPN
cblr-1711	494	4	anderson	anderson	PROPN
cblr-1711	494	5	,	,	PUNCT
cblr-1711	494	6	nontechnical	nontechnical	ADJ
cblr-1711	494	7	disclosure	disclosure	NOUN
cblr-1711	494	8	,	,	PUNCT
cblr-1711	494	9	69	69	NUM
cblr-1711	494	10	vand	vand	NOUN
cblr-1711	494	11	.	.	PUNCT
cblr-1711	495	1	l.	l.	PROPN
cblr-1711	495	2	rev	rev	PROPN
cblr-1711	495	3	.	.	PROPN
cblr-1711	495	4	1573	1573	NUM
cblr-1711	495	5	,	,	PUNCT
cblr-1711	495	6	1574–75	1574–75	NUM
cblr-1711	495	7	(	(	PUNCT
cblr-1711	495	8	2016	2016	NUM
cblr-1711	495	9	)	)	PUNCT
cblr-1711	495	10	.	.	PUNCT
cblr-1711	496	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	496	2	no	no	NOUN
cblr-1711	496	3	.	.	NOUN
cblr-1711	497	1	3:1060	3:1060	NUM
cblr-1711	497	2	]	]	X
cblr-1711	497	3	biotech	biotech	ADJ
cblr-1711	497	4	crowdfunding	crowdfunding	NOUN
cblr-1711	497	5	1101	1101	NUM
cblr-1711	497	6	nontechnical	nontechnical	ADJ
cblr-1711	497	7	information	information	NOUN
cblr-1711	497	8	within	within	ADP
cblr-1711	497	9	the	the	DET
cblr-1711	497	10	patent	patent	NOUN
cblr-1711	497	11	itself	itself	PRON
cblr-1711	497	12	or	or	CCONJ
cblr-1711	497	13	simply	simply	ADV
cblr-1711	497	14	through	through	ADP
cblr-1711	497	15	notifying	notify	VERB
cblr-1711	497	16	individuals	individual	NOUN
cblr-1711	497	17	that	that	SCONJ
cblr-1711	497	18	a	a	DET
cblr-1711	497	19	patent	patent	NOUN
cblr-1711	497	20	is	be	AUX
cblr-1711	497	21	pending	pende	VERB
cblr-1711	497	22	or	or	CCONJ
cblr-1711	497	23	has	have	AUX
cblr-1711	497	24	been	be	AUX
cblr-1711	497	25	issued.210	issued.210	NOUN
cblr-1711	497	26	while	while	SCONJ
cblr-1711	497	27	these	these	DET
cblr-1711	497	28	forms	form	NOUN
cblr-1711	497	29	of	of	ADP
cblr-1711	497	30	nontechnical	nontechnical	ADJ
cblr-1711	497	31	information	information	NOUN
cblr-1711	497	32	do	do	AUX
cblr-1711	497	33	not	not	PART
cblr-1711	497	34	meet	meet	VERB
cblr-1711	497	35	patent	patent	NOUN
cblr-1711	497	36	law	law	NOUN
cblr-1711	497	37	’s	’s	PART
cblr-1711	497	38	statutory	statutory	ADJ
cblr-1711	497	39	written	write	VERB
cblr-1711	497	40	description	description	NOUN
cblr-1711	497	41	and	and	CCONJ
cblr-1711	497	42	enablement	enablement	NOUN
cblr-1711	497	43	requirements,211	requirements,211	PROPN
cblr-1711	497	44	they	they	PRON
cblr-1711	497	45	“	"	PUNCT
cblr-1711	497	46	can	can	AUX
cblr-1711	497	47	be	be	AUX
cblr-1711	497	48	highly	highly	ADV
cblr-1711	497	49	useful	useful	ADJ
cblr-1711	497	50	and	and	CCONJ
cblr-1711	497	51	valuable	valuable	ADJ
cblr-1711	497	52	to	to	ADP
cblr-1711	497	53	individuals	individual	NOUN
cblr-1711	497	54	seeking	seek	VERB
cblr-1711	497	55	information	information	NOUN
cblr-1711	497	56	about	about	ADP
cblr-1711	497	57	the	the	DET
cblr-1711	497	58	technology	technology	NOUN
cblr-1711	497	59	,	,	PUNCT
cblr-1711	497	60	”	"	PUNCT
cblr-1711	497	61	signaling	signal	VERB
cblr-1711	497	62	to	to	ADP
cblr-1711	497	63	other	other	ADJ
cblr-1711	497	64	innovators	innovator	NOUN
cblr-1711	497	65	,	,	PUNCT
cblr-1711	497	66	consumers	consumer	NOUN
cblr-1711	497	67	,	,	PUNCT
cblr-1711	497	68	and	and	CCONJ
cblr-1711	497	69	investors	investor	NOUN
cblr-1711	497	70	the	the	DET
cblr-1711	497	71	potential	potential	ADJ
cblr-1711	497	72	value	value	NOUN
cblr-1711	497	73	of	of	ADP
cblr-1711	497	74	the	the	DET
cblr-1711	497	75	inventive	inventive	ADJ
cblr-1711	497	76	idea.212	idea.212	PROPN
cblr-1711	497	77	a	a	DET
cblr-1711	497	78	venture	venture	NOUN
cblr-1711	497	79	capitalist	capitalist	NOUN
cblr-1711	497	80	,	,	PUNCT
cblr-1711	497	81	for	for	ADP
cblr-1711	497	82	example	example	NOUN
cblr-1711	497	83	,	,	PUNCT
cblr-1711	497	84	may	may	AUX
cblr-1711	497	85	not	not	PART
cblr-1711	497	86	understand	understand	VERB
cblr-1711	497	87	all	all	DET
cblr-1711	497	88	the	the	DET
cblr-1711	497	89	science	science	NOUN
cblr-1711	497	90	behind	behind	ADP
cblr-1711	497	91	a	a	DET
cblr-1711	497	92	company	company	NOUN
cblr-1711	497	93	’s	’s	PART
cblr-1711	497	94	portfolio	portfolio	NOUN
cblr-1711	497	95	of	of	ADP
cblr-1711	497	96	biotech	biotech	ADJ
cblr-1711	497	97	inventions	invention	NOUN
cblr-1711	497	98	,	,	PUNCT
cblr-1711	497	99	but	but	CCONJ
cblr-1711	497	100	whether	whether	SCONJ
cblr-1711	497	101	these	these	DET
cblr-1711	497	102	products	product	NOUN
cblr-1711	497	103	are	be	AUX
cblr-1711	497	104	patented	patent	VERB
cblr-1711	497	105	can	can	AUX
cblr-1711	497	106	inform	inform	VERB
cblr-1711	497	107	the	the	DET
cblr-1711	497	108	investor	investor	NOUN
cblr-1711	497	109	’s	’s	PART
cblr-1711	497	110	decision	decision	NOUN
cblr-1711	497	111	and	and	CCONJ
cblr-1711	497	112	help	help	VERB
cblr-1711	497	113	to	to	PART
cblr-1711	497	114	estimate	estimate	VERB
cblr-1711	497	115	the	the	DET
cblr-1711	497	116	company	company	NOUN
cblr-1711	497	117	’s	’s	PART
cblr-1711	497	118	value	value	NOUN
cblr-1711	497	119	and	and	CCONJ
cblr-1711	497	120	future	future	ADJ
cblr-1711	497	121	market	market	NOUN
cblr-1711	497	122	share.213	share.213	NOUN
cblr-1711	497	123	as	as	ADP
cblr-1711	497	124	such	such	ADJ
cblr-1711	497	125	,	,	PUNCT
cblr-1711	497	126	entrepreneurs	entrepreneur	NOUN
cblr-1711	497	127	seeking	seek	VERB
cblr-1711	497	128	crowdfunding	crowdfunde	VERB
cblr-1711	497	129	should	should	AUX
cblr-1711	497	130	be	be	AUX
cblr-1711	497	131	required	require	VERB
cblr-1711	497	132	to	to	PART
cblr-1711	497	133	disclose	disclose	VERB
cblr-1711	497	134	if	if	SCONJ
cblr-1711	497	135	a	a	DET
cblr-1711	497	136	patent	patent	NOUN
cblr-1711	497	137	application	application	NOUN
cblr-1711	497	138	will	will	AUX
cblr-1711	497	139	be	be	AUX
cblr-1711	497	140	filed	file	VERB
cblr-1711	497	141	—	—	PUNCT
cblr-1711	497	142	and	and	CCONJ
cblr-1711	497	143	if	if	SCONJ
cblr-1711	497	144	so	so	ADV
cblr-1711	497	145	,	,	PUNCT
cblr-1711	497	146	its	its	PRON
cblr-1711	497	147	application	application	NOUN
cblr-1711	497	148	status	status	NOUN
cblr-1711	497	149	—	—	PUNCT
cblr-1711	497	150	to	to	ADP
cblr-1711	497	151	potential	potential	ADJ
cblr-1711	497	152	investors	investor	NOUN
cblr-1711	497	153	through	through	ADP
cblr-1711	497	154	the	the	DET
cblr-1711	497	155	intermediary	intermediary	ADJ
cblr-1711	497	156	broker	broker	NOUN
cblr-1711	497	157	or	or	CCONJ
cblr-1711	497	158	funding	funding	NOUN
cblr-1711	497	159	portal	portal	NOUN
cblr-1711	497	160	.	.	PUNCT
cblr-1711	498	1	unlike	unlike	ADP
cblr-1711	498	2	disclosure	disclosure	NOUN
cblr-1711	498	3	of	of	ADP
cblr-1711	498	4	a	a	DET
cblr-1711	498	5	product	product	NOUN
cblr-1711	498	6	’s	’s	PART
cblr-1711	498	7	status	status	NOUN
cblr-1711	498	8	within	within	ADP
cblr-1711	498	9	the	the	DET
cblr-1711	498	10	fda	fda	PROPN
cblr-1711	498	11	’s	’s	PART
cblr-1711	498	12	regulatory	regulatory	ADJ
cblr-1711	498	13	approval	approval	NOUN
cblr-1711	498	14	process	process	NOUN
cblr-1711	498	15	,	,	PUNCT
cblr-1711	498	16	though	though	ADV
cblr-1711	498	17	,	,	PUNCT
cblr-1711	498	18	disclosure	disclosure	NOUN
cblr-1711	498	19	of	of	ADP
cblr-1711	498	20	patent	patent	NOUN
cblr-1711	498	21	nontechnical	nontechnical	ADJ
cblr-1711	498	22	information	information	NOUN
cblr-1711	498	23	may	may	AUX
cblr-1711	498	24	be	be	AUX
cblr-1711	498	25	more	more	ADV
cblr-1711	498	26	likely	likely	ADJ
cblr-1711	498	27	to	to	PART
cblr-1711	498	28	mislead	mislead	VERB
cblr-1711	498	29	investors	investor	NOUN
cblr-1711	498	30	because	because	SCONJ
cblr-1711	498	31	the	the	DET
cblr-1711	498	32	(	(	PUNCT
cblr-1711	498	33	potential	potential	ADJ
cblr-1711	498	34	)	)	PUNCT
cblr-1711	498	35	existence	existence	NOUN
cblr-1711	498	36	of	of	ADP
cblr-1711	498	37	a	a	DET
cblr-1711	498	38	patent	patent	NOUN
cblr-1711	498	39	can	can	AUX
cblr-1711	498	40	mistakenly	mistakenly	ADV
cblr-1711	498	41	convince	convince	VERB
cblr-1711	498	42	unsophisticated	unsophisticated	ADJ
cblr-1711	498	43	individuals	individual	NOUN
cblr-1711	498	44	that	that	SCONJ
cblr-1711	498	45	the	the	DET
cblr-1711	498	46	product	product	NOUN
cblr-1711	498	47	is	be	AUX
cblr-1711	498	48	innovative	innovative	ADJ
cblr-1711	498	49	,	,	PUNCT
cblr-1711	498	50	when	when	SCONJ
cblr-1711	498	51	the	the	DET
cblr-1711	498	52	patent	patent	NOUN
cblr-1711	498	53	may	may	AUX
cblr-1711	498	54	actually	actually	ADV
cblr-1711	498	55	be	be	AUX
cblr-1711	498	56	invalid	invalid	ADJ
cblr-1711	498	57	or	or	CCONJ
cblr-1711	498	58	the	the	DET
cblr-1711	498	59	invention	invention	NOUN
cblr-1711	498	60	technically	technically	ADV
cblr-1711	498	61	useless.214	useless.214	ADV
cblr-1711	498	62	furthermore	furthermore	ADV
cblr-1711	498	63	,	,	PUNCT
cblr-1711	498	64	many	many	ADJ
cblr-1711	498	65	inventions	invention	NOUN
cblr-1711	498	66	may	may	AUX
cblr-1711	498	67	not	not	PART
cblr-1711	498	68	qualify	qualify	VERB
cblr-1711	498	69	for	for	ADP
cblr-1711	498	70	patent	patent	NOUN
cblr-1711	498	71	protection	protection	NOUN
cblr-1711	498	72	,	,	PUNCT
cblr-1711	498	73	for	for	ADP
cblr-1711	498	74	reasons	reason	NOUN
cblr-1711	498	75	entirely	entirely	ADV
cblr-1711	498	76	unrelated	unrelated	ADJ
cblr-1711	498	77	to	to	ADP
cblr-1711	498	78	whether	whether	SCONJ
cblr-1711	498	79	or	or	CCONJ
cblr-1711	498	80	not	not	PART
cblr-1711	498	81	the	the	DET
cblr-1711	498	82	company	company	NOUN
cblr-1711	498	83	would	would	AUX
cblr-1711	498	84	be	be	AUX
cblr-1711	498	85	a	a	DET
cblr-1711	498	86	good	good	ADJ
cblr-1711	498	87	investment	investment	NOUN
cblr-1711	498	88	.	.	PUNCT
cblr-1711	499	1	for	for	ADP
cblr-1711	499	2	the	the	DET
cblr-1711	499	3	same	same	ADJ
cblr-1711	499	4	reasons	reason	NOUN
cblr-1711	499	5	that	that	PRON
cblr-1711	499	6	nontechnical	nontechnical	ADJ
cblr-1711	499	7	disclosure	disclosure	NOUN
cblr-1711	499	8	can	can	AUX
cblr-1711	499	9	be	be	AUX
cblr-1711	499	10	valuable	valuable	ADJ
cblr-1711	499	11	for	for	ADP
cblr-1711	499	12	investors	investor	NOUN
cblr-1711	499	13	,	,	PUNCT
cblr-1711	499	14	it	it	PRON
cblr-1711	499	15	can	can	AUX
cblr-1711	499	16	also	also	ADV
cblr-1711	499	17	present	present	VERB
cblr-1711	499	18	210	210	NUM
cblr-1711	500	1	i	i	PRON
cblr-1711	500	2	d.	d.	PROPN
cblr-1711	500	3	at	at	ADP
cblr-1711	500	4	1591	1591	NUM
cblr-1711	500	5	(	(	PUNCT
cblr-1711	500	6	“	"	PUNCT
cblr-1711	500	7	indeed	indeed	ADV
cblr-1711	500	8	,	,	PUNCT
cblr-1711	500	9	nontechnical	nontechnical	ADJ
cblr-1711	500	10	disclosure	disclosure	NOUN
cblr-1711	500	11	is	be	AUX
cblr-1711	500	12	more	more	ADJ
cblr-1711	500	13	about	about	ADP
cblr-1711	500	14	the	the	DET
cblr-1711	500	15	existence	existence	NOUN
cblr-1711	500	16	of	of	ADP
cblr-1711	500	17	a	a	DET
cblr-1711	500	18	patent	patent	NOUN
cblr-1711	500	19	than	than	ADP
cblr-1711	500	20	what	what	PRON
cblr-1711	500	21	the	the	DET
cblr-1711	500	22	patented	patented	ADJ
cblr-1711	500	23	invention	invention	NOUN
cblr-1711	500	24	covers	cover	VERB
cblr-1711	500	25	.	.	PUNCT
cblr-1711	500	26	”	"	PUNCT
cblr-1711	500	27	)	)	PUNCT
cblr-1711	500	28	.	.	PUNCT
cblr-1711	501	1	211	211	NUM
cblr-1711	501	2	a	a	DET
cblr-1711	501	3	valid	valid	ADJ
cblr-1711	501	4	patent	patent	NOUN
cblr-1711	501	5	must	must	AUX
cblr-1711	501	6	“	"	PUNCT
cblr-1711	501	7	contain	contain	VERB
cblr-1711	501	8	a	a	DET
cblr-1711	501	9	written	write	VERB
cblr-1711	501	10	description	description	NOUN
cblr-1711	501	11	of	of	ADP
cblr-1711	501	12	the	the	DET
cblr-1711	501	13	invention	invention	NOUN
cblr-1711	501	14	”	"	PUNCT
cblr-1711	501	15	and	and	CCONJ
cblr-1711	501	16	“	"	PUNCT
cblr-1711	501	17	the	the	DET
cblr-1711	501	18	manner	manner	NOUN
cblr-1711	501	19	and	and	CCONJ
cblr-1711	501	20	process	process	NOUN
cblr-1711	501	21	of	of	ADP
cblr-1711	501	22	making	make	VERB
cblr-1711	501	23	it	it	PRON
cblr-1711	501	24	and	and	CCONJ
cblr-1711	501	25	using	use	VERB
cblr-1711	501	26	it	it	PRON
cblr-1711	501	27	”	"	PUNCT
cblr-1711	501	28	so	so	SCONJ
cblr-1711	501	29	that	that	SCONJ
cblr-1711	501	30	“	"	PUNCT
cblr-1711	501	31	any	any	DET
cblr-1711	501	32	person	person	NOUN
cblr-1711	501	33	skilled	skilled	ADJ
cblr-1711	501	34	in	in	ADP
cblr-1711	501	35	the	the	DET
cblr-1711	501	36	art	art	NOUN
cblr-1711	501	37	.	.	PUNCT
cblr-1711	501	38	.	.	PUNCT
cblr-1711	501	39	.	.	PUNCT
cblr-1711	502	1	[	[	X
cblr-1711	502	2	can	can	AUX
cblr-1711	502	3	]	]	PART
cblr-1711	502	4	make	make	VERB
cblr-1711	502	5	and	and	CCONJ
cblr-1711	502	6	use	use	VERB
cblr-1711	502	7	”	"	PUNCT
cblr-1711	502	8	the	the	DET
cblr-1711	502	9	invention	invention	NOUN
cblr-1711	502	10	.	.	PUNCT
cblr-1711	503	1	35	35	NUM
cblr-1711	503	2	u.s.c	u.s.c	NOUN
cblr-1711	503	3	.	.	PUNCT
cblr-1711	504	1	§	§	PROPN
cblr-1711	504	2	112(a	112(a	PROPN
cblr-1711	504	3	)	)	PUNCT
cblr-1711	504	4	(	(	PUNCT
cblr-1711	504	5	2012	2012	NUM
cblr-1711	504	6	)	)	PUNCT
cblr-1711	504	7	.	.	PUNCT
cblr-1711	505	1	212	212	NUM
cblr-1711	505	2	anderson	anderson	PROPN
cblr-1711	505	3	,	,	PUNCT
cblr-1711	505	4	supra	supra	PROPN
cblr-1711	505	5	note	note	PROPN
cblr-1711	505	6	209	209	NUM
cblr-1711	505	7	,	,	PUNCT
cblr-1711	505	8	at	at	ADP
cblr-1711	505	9	1575	1575	NUM
cblr-1711	505	10	.	.	PUNCT
cblr-1711	506	1	213	213	NUM
cblr-1711	506	2	i	i	PRON
cblr-1711	506	3	d.	d.	PROPN
cblr-1711	506	4	at	at	ADP
cblr-1711	506	5	1591	1591	NUM
cblr-1711	506	6	.	.	PUNCT
cblr-1711	507	1	214	214	NUM
cblr-1711	507	2	i	i	PRON
cblr-1711	507	3	d.	d.	PROPN
cblr-1711	507	4	at	at	ADP
cblr-1711	507	5	1576	1576	NUM
cblr-1711	507	6	.	.	PUNCT
cblr-1711	508	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	508	2	1102	1102	NUM
cblr-1711	508	3	columbia	columbia	PROPN
cblr-1711	508	4	business	business	NOUN
cblr-1711	508	5	law	law	PROPN
cblr-1711	508	6	review	review	NOUN
cblr-1711	508	7	[	[	X
cblr-1711	508	8	vol	vol	NOUN
cblr-1711	508	9	.	.	PUNCT
cblr-1711	508	10	2018	2018	NUM
cblr-1711	508	11	great	great	ADJ
cblr-1711	508	12	risk	risk	NOUN
cblr-1711	508	13	,	,	PUNCT
cblr-1711	508	14	especially	especially	ADV
cblr-1711	508	15	in	in	ADP
cblr-1711	508	16	crowdfunding	crowdfunding	NOUN
cblr-1711	508	17	,	,	PUNCT
cblr-1711	508	18	as	as	SCONJ
cblr-1711	508	19	it	it	PRON
cblr-1711	508	20	is	be	AUX
cblr-1711	508	21	aimed	aim	VERB
cblr-1711	508	22	at	at	ADP
cblr-1711	508	23	persons	person	NOUN
cblr-1711	508	24	unskilled	unskille	VERB
cblr-1711	508	25	both	both	PRON
cblr-1711	508	26	in	in	ADP
cblr-1711	508	27	the	the	DET
cblr-1711	508	28	technical	technical	ADJ
cblr-1711	508	29	art	art	NOUN
cblr-1711	508	30	and	and	CCONJ
cblr-1711	508	31	in	in	ADP
cblr-1711	508	32	investing.215	investing.215	NOUN
cblr-1711	508	33	in	in	ADP
cblr-1711	508	34	order	order	NOUN
cblr-1711	508	35	to	to	PART
cblr-1711	508	36	avoid	avoid	VERB
cblr-1711	508	37	vague	vague	ADJ
cblr-1711	508	38	or	or	CCONJ
cblr-1711	508	39	misleading	misleading	ADJ
cblr-1711	508	40	information	information	NOUN
cblr-1711	508	41	,	,	PUNCT
cblr-1711	508	42	the	the	DET
cblr-1711	508	43	proposed	propose	VERB
cblr-1711	508	44	disclosure	disclosure	NOUN
cblr-1711	508	45	requirements	requirement	NOUN
cblr-1711	508	46	should	should	AUX
cblr-1711	508	47	provide	provide	VERB
cblr-1711	508	48	checkboxes	checkboxe	NOUN
cblr-1711	508	49	as	as	ADP
cblr-1711	508	50	to	to	ADP
cblr-1711	508	51	whether	whether	SCONJ
cblr-1711	508	52	a	a	DET
cblr-1711	508	53	patent	patent	NOUN
cblr-1711	508	54	has	have	AUX
cblr-1711	508	55	been	be	AUX
cblr-1711	508	56	filed	file	VERB
cblr-1711	508	57	and	and	CCONJ
cblr-1711	508	58	issued	issue	VERB
cblr-1711	508	59	,	,	PUNCT
cblr-1711	508	60	with	with	ADP
cblr-1711	508	61	disclaimers	disclaimer	NOUN
cblr-1711	508	62	as	as	ADP
cblr-1711	508	63	to	to	ADP
cblr-1711	508	64	reasons	reason	NOUN
cblr-1711	508	65	why	why	SCONJ
cblr-1711	508	66	a	a	DET
cblr-1711	508	67	patent	patent	NOUN
cblr-1711	508	68	may	may	AUX
cblr-1711	508	69	not	not	PART
cblr-1711	508	70	be	be	AUX
cblr-1711	508	71	filed	file	VERB
cblr-1711	508	72	as	as	ADV
cblr-1711	508	73	well	well	ADV
cblr-1711	508	74	as	as	ADP
cblr-1711	508	75	the	the	DET
cblr-1711	508	76	probative	probative	ADJ
cblr-1711	508	77	value	value	NOUN
cblr-1711	508	78	of	of	ADP
cblr-1711	508	79	patents	patent	NOUN
cblr-1711	508	80	generally	generally	ADV
cblr-1711	508	81	on	on	ADP
cblr-1711	508	82	commercial	commercial	ADJ
cblr-1711	508	83	success	success	NOUN
cblr-1711	508	84	.	.	PUNCT
cblr-1711	509	1	nontechnical	nontechnical	ADJ
cblr-1711	509	2	disclosure	disclosure	NOUN
cblr-1711	509	3	that	that	SCONJ
cblr-1711	509	4	a	a	DET
cblr-1711	509	5	patent	patent	NOUN
cblr-1711	509	6	exists	exist	VERB
cblr-1711	509	7	provides	provide	VERB
cblr-1711	509	8	another	another	DET
cblr-1711	509	9	data	data	NOUN
cblr-1711	509	10	point	point	NOUN
cblr-1711	509	11	that	that	SCONJ
cblr-1711	509	12	the	the	DET
cblr-1711	509	13	investor	investor	NOUN
cblr-1711	509	14	can	can	AUX
cblr-1711	509	15	use	use	VERB
cblr-1711	509	16	in	in	ADP
cblr-1711	509	17	deciding	decide	VERB
cblr-1711	509	18	whether	whether	SCONJ
cblr-1711	509	19	or	or	CCONJ
cblr-1711	509	20	not	not	PART
cblr-1711	509	21	to	to	PART
cblr-1711	509	22	invest	invest	VERB
cblr-1711	509	23	in	in	ADP
cblr-1711	509	24	a	a	DET
cblr-1711	509	25	company	company	NOUN
cblr-1711	509	26	.	.	PUNCT
cblr-1711	510	1	this	this	PRON
cblr-1711	510	2	could	could	AUX
cblr-1711	510	3	potentially	potentially	ADV
cblr-1711	510	4	incentivize	incentivize	VERB
cblr-1711	510	5	the	the	DET
cblr-1711	510	6	investor	investor	NOUN
cblr-1711	510	7	to	to	PART
cblr-1711	510	8	research	research	VERB
cblr-1711	510	9	more	more	ADJ
cblr-1711	510	10	about	about	ADP
cblr-1711	510	11	the	the	DET
cblr-1711	510	12	product	product	NOUN
cblr-1711	510	13	’s	’s	PART
cblr-1711	510	14	technical	technical	ADJ
cblr-1711	510	15	specifications	specification	NOUN
cblr-1711	510	16	while	while	SCONJ
cblr-1711	510	17	reducing	reduce	VERB
cblr-1711	510	18	the	the	DET
cblr-1711	510	19	risk	risk	NOUN
cblr-1711	510	20	of	of	ADP
cblr-1711	510	21	material	material	ADJ
cblr-1711	510	22	misinformation	misinformation	NOUN
cblr-1711	510	23	.	.	PUNCT
cblr-1711	511	1	as	as	ADP
cblr-1711	511	2	a	a	DET
cblr-1711	511	3	backstop	backstop	NOUN
cblr-1711	511	4	,	,	PUNCT
cblr-1711	511	5	title	title	NOUN
cblr-1711	511	6	iii	iii	NUM
cblr-1711	511	7	provides	provide	VERB
cblr-1711	511	8	investors	investor	NOUN
cblr-1711	511	9	with	with	ADP
cblr-1711	511	10	a	a	DET
cblr-1711	511	11	cause	cause	NOUN
cblr-1711	511	12	of	of	ADP
cblr-1711	511	13	action	action	NOUN
cblr-1711	511	14	against	against	ADP
cblr-1711	511	15	a	a	DET
cblr-1711	511	16	company	company	NOUN
cblr-1711	511	17	that	that	PRON
cblr-1711	511	18	makes	make	VERB
cblr-1711	511	19	a	a	DET
cblr-1711	511	20	misleading	misleading	ADJ
cblr-1711	511	21	statement	statement	NOUN
cblr-1711	511	22	of	of	ADP
cblr-1711	511	23	material	material	NOUN
cblr-1711	511	24	fact,216	fact,216	NOUN
cblr-1711	511	25	which	which	PRON
cblr-1711	511	26	investors	investor	NOUN
cblr-1711	511	27	can	can	AUX
cblr-1711	511	28	utilize	utilize	VERB
cblr-1711	511	29	when	when	SCONJ
cblr-1711	511	30	an	an	DET
cblr-1711	511	31	entrepreneur	entrepreneur	NOUN
cblr-1711	511	32	misuses	misuse	VERB
cblr-1711	511	33	nontechnical	nontechnical	ADJ
cblr-1711	511	34	patent	patent	NOUN
cblr-1711	511	35	disclosure	disclosure	NOUN
cblr-1711	511	36	.	.	PUNCT
cblr-1711	512	1	v.	v.	ADP
cblr-1711	512	2	conclusion	conclusion	NOUN
cblr-1711	512	3	the	the	DET
cblr-1711	512	4	jobs	job	NOUN
cblr-1711	512	5	act	act	PROPN
cblr-1711	512	6	,	,	PUNCT
cblr-1711	512	7	likely	likely	ADV
cblr-1711	512	8	in	in	ADP
cblr-1711	512	9	conjunction	conjunction	NOUN
cblr-1711	512	10	with	with	ADP
cblr-1711	512	11	other	other	ADJ
cblr-1711	512	12	market	market	NOUN
cblr-1711	512	13	factors	factor	NOUN
cblr-1711	512	14	,	,	PUNCT
cblr-1711	512	15	has	have	AUX
cblr-1711	512	16	seemingly	seemingly	ADV
cblr-1711	512	17	invigorated	invigorate	VERB
cblr-1711	512	18	the	the	DET
cblr-1711	512	19	biotech	biotech	ADJ
cblr-1711	512	20	investment	investment	NOUN
cblr-1711	512	21	market	market	NOUN
cblr-1711	512	22	.	.	PUNCT
cblr-1711	513	1	while	while	SCONJ
cblr-1711	513	2	the	the	DET
cblr-1711	513	3	enactment	enactment	NOUN
cblr-1711	513	4	of	of	ADP
cblr-1711	513	5	title	title	NOUN
cblr-1711	513	6	iii	iii	PROPN
cblr-1711	513	7	in	in	ADP
cblr-1711	513	8	may	may	PROPN
cblr-1711	513	9	2016	2016	NUM
cblr-1711	513	10	has	have	AUX
cblr-1711	513	11	raised	raise	VERB
cblr-1711	513	12	concerns	concern	NOUN
cblr-1711	513	13	about	about	ADP
cblr-1711	513	14	investor	investor	NOUN
cblr-1711	513	15	protection	protection	NOUN
cblr-1711	513	16	across	across	ADP
cblr-1711	513	17	industries	industry	NOUN
cblr-1711	513	18	,	,	PUNCT
cblr-1711	513	19	biotech	biotech	ADJ
cblr-1711	513	20	crowdfunding	crowdfunding	NOUN
cblr-1711	513	21	presents	present	VERB
cblr-1711	513	22	unique	unique	ADJ
cblr-1711	513	23	challenges	challenge	NOUN
cblr-1711	513	24	to	to	ADP
cblr-1711	513	25	issuers	issuer	NOUN
cblr-1711	513	26	,	,	PUNCT
cblr-1711	513	27	intermediaries	intermediary	NOUN
cblr-1711	513	28	,	,	PUNCT
cblr-1711	513	29	and	and	CCONJ
cblr-1711	513	30	investors	investor	NOUN
cblr-1711	513	31	.	.	PUNCT
cblr-1711	514	1	this	this	DET
cblr-1711	514	2	note	note	NOUN
cblr-1711	514	3	has	have	AUX
cblr-1711	514	4	presented	present	VERB
cblr-1711	514	5	a	a	DET
cblr-1711	514	6	wide	wide	ADV
cblr-1711	514	7	-	-	PUNCT
cblr-1711	514	8	ranging	range	VERB
cblr-1711	514	9	description	description	NOUN
cblr-1711	514	10	of	of	ADP
cblr-1711	514	11	the	the	DET
cblr-1711	514	12	various	various	ADJ
cblr-1711	514	13	protections	protection	NOUN
cblr-1711	514	14	available	available	ADJ
cblr-1711	514	15	to	to	ADP
cblr-1711	514	16	potential	potential	ADJ
cblr-1711	514	17	biotech	biotech	ADJ
cblr-1711	514	18	investors	investor	NOUN
cblr-1711	514	19	from	from	ADP
cblr-1711	514	20	bad	bad	ADJ
cblr-1711	514	21	actors	actor	NOUN
cblr-1711	514	22	,	,	PUNCT
cblr-1711	514	23	focusing	focus	VERB
cblr-1711	514	24	on	on	ADP
cblr-1711	514	25	the	the	DET
cblr-1711	514	26	crowdfunding	crowdfunding	NOUN
cblr-1711	514	27	protections	protection	NOUN
cblr-1711	514	28	currently	currently	ADV
cblr-1711	514	29	set	set	VERB
cblr-1711	514	30	out	out	ADP
cblr-1711	514	31	in	in	ADP
cblr-1711	514	32	title	title	NOUN
cblr-1711	514	33	iii	iii	NOUN
cblr-1711	514	34	and	and	CCONJ
cblr-1711	514	35	those	those	PRON
cblr-1711	514	36	provided	provide	VERB
cblr-1711	514	37	by	by	ADP
cblr-1711	514	38	the	the	DET
cblr-1711	514	39	fda	fda	PROPN
cblr-1711	514	40	’s	’s	PART
cblr-1711	514	41	regulatory	regulatory	ADJ
cblr-1711	514	42	authority	authority	NOUN
cblr-1711	514	43	and	and	CCONJ
cblr-1711	514	44	patent	patent	NOUN
cblr-1711	514	45	law	law	NOUN
cblr-1711	514	46	.	.	PUNCT
cblr-1711	515	1	however	however	ADV
cblr-1711	515	2	,	,	PUNCT
cblr-1711	515	3	unless	unless	SCONJ
cblr-1711	515	4	information	information	NOUN
cblr-1711	515	5	as	as	ADP
cblr-1711	515	6	to	to	ADP
cblr-1711	515	7	a	a	DET
cblr-1711	515	8	product	product	NOUN
cblr-1711	515	9	’s	’s	PART
cblr-1711	515	10	safety	safety	NOUN
cblr-1711	515	11	,	,	PUNCT
cblr-1711	515	12	effectiveness	effectiveness	NOUN
cblr-1711	515	13	,	,	PUNCT
cblr-1711	515	14	and	and	CCONJ
cblr-1711	515	15	patentability	patentability	NOUN
cblr-1711	515	16	is	be	AUX
cblr-1711	515	17	properly	properly	ADV
cblr-1711	515	18	and	and	CCONJ
cblr-1711	515	19	timely	timely	ADV
cblr-1711	515	20	disclosed	disclose	VERB
cblr-1711	515	21	,	,	PUNCT
cblr-1711	515	22	unsophisticated	unsophisticated	ADJ
cblr-1711	515	23	investors	investor	NOUN
cblr-1711	515	24	will	will	AUX
cblr-1711	515	25	likely	likely	ADV
cblr-1711	515	26	not	not	PART
cblr-1711	515	27	be	be	AUX
cblr-1711	515	28	able	able	ADJ
cblr-1711	515	29	to	to	PART
cblr-1711	515	30	distinguish	distinguish	VERB
cblr-1711	515	31	good	good	ADJ
cblr-1711	515	32	biotech	biotech	ADJ
cblr-1711	515	33	investments	investment	NOUN
cblr-1711	515	34	from	from	ADP
cblr-1711	515	35	bad	bad	ADJ
cblr-1711	515	36	ones	one	NOUN
cblr-1711	515	37	and	and	CCONJ
cblr-1711	515	38	could	could	AUX
cblr-1711	515	39	be	be	AUX
cblr-1711	515	40	convinced	convince	VERB
cblr-1711	515	41	to	to	PART
cblr-1711	515	42	overinvest	overinvest	VERB
cblr-1711	515	43	due	due	ADJ
cblr-1711	515	44	to	to	ADP
cblr-1711	515	45	potentially	potentially	ADV
cblr-1711	515	46	unmerited	unmerite	VERB
cblr-1711	515	47	optimism	optimism	NOUN
cblr-1711	515	48	in	in	ADP
cblr-1711	515	49	the	the	DET
cblr-1711	515	50	venture	venture	NOUN
cblr-1711	515	51	.	.	PUNCT
cblr-1711	516	1	215	215	NUM
cblr-1711	516	2	see	see	VERB
cblr-1711	516	3	i	i	PRON
cblr-1711	516	4	d.	d.	PROPN
cblr-1711	516	5	at	at	ADP
cblr-1711	516	6	1577	1577	NUM
cblr-1711	516	7	.	.	PUNCT
cblr-1711	517	1	216	216	NUM
cblr-1711	517	2	farnkoff	farnkoff	NOUN
cblr-1711	517	3	,	,	PUNCT
cblr-1711	517	4	supra	supra	PROPN
cblr-1711	517	5	note	note	PROPN
cblr-1711	517	6	14	14	NUM
cblr-1711	517	7	,	,	PUNCT
cblr-1711	517	8	at	at	ADP
cblr-1711	517	9	170	170	NUM
cblr-1711	517	10	.	.	PUNCT
cblr-1711	518	1	2018.3_wu_final	2018.3_wu_final	NUM
cblr-1711	518	2	no	no	NOUN
cblr-1711	518	3	.	.	NOUN
cblr-1711	519	1	3:1060	3:1060	NUM
cblr-1711	519	2	]	]	X
cblr-1711	519	3	biotech	biotech	ADJ
cblr-1711	519	4	crowdfunding	crowdfunde	VERB
cblr-1711	519	5	1103	1103	NUM
cblr-1711	519	6	this	this	DET
cblr-1711	519	7	note	note	NOUN
cblr-1711	519	8	proposes	propose	VERB
cblr-1711	519	9	that	that	SCONJ
cblr-1711	519	10	biotech	biotech	ADJ
cblr-1711	519	11	startups	startup	NOUN
cblr-1711	519	12	seeking	seek	VERB
cblr-1711	519	13	crowdfunding	crowdfunde	VERB
cblr-1711	519	14	should	should	AUX
cblr-1711	519	15	be	be	AUX
cblr-1711	519	16	required	require	VERB
cblr-1711	519	17	to	to	PART
cblr-1711	519	18	disclose	disclose	VERB
cblr-1711	519	19	if	if	SCONJ
cblr-1711	519	20	they	they	PRON
cblr-1711	519	21	are	be	AUX
cblr-1711	519	22	seeking	seek	VERB
cblr-1711	519	23	regulatory	regulatory	ADJ
cblr-1711	519	24	approval	approval	NOUN
cblr-1711	519	25	and	and	CCONJ
cblr-1711	519	26	where	where	SCONJ
cblr-1711	519	27	they	they	PRON
cblr-1711	519	28	are	be	AUX
cblr-1711	519	29	in	in	ADP
cblr-1711	519	30	the	the	DET
cblr-1711	519	31	fda	fda	PROPN
cblr-1711	519	32	approval	approval	NOUN
cblr-1711	519	33	process	process	NOUN
cblr-1711	519	34	.	.	PUNCT
cblr-1711	520	1	if	if	SCONJ
cblr-1711	520	2	they	they	PRON
cblr-1711	520	3	are	be	AUX
cblr-1711	520	4	not	not	PART
cblr-1711	520	5	seeking	seek	VERB
cblr-1711	520	6	fda	fda	PROPN
cblr-1711	520	7	approval	approval	NOUN
cblr-1711	520	8	,	,	PUNCT
cblr-1711	520	9	they	they	PRON
cblr-1711	520	10	should	should	AUX
cblr-1711	520	11	be	be	AUX
cblr-1711	520	12	required	require	VERB
cblr-1711	520	13	to	to	PART
cblr-1711	520	14	disclose	disclose	VERB
cblr-1711	520	15	why	why	SCONJ
cblr-1711	520	16	they	they	PRON
cblr-1711	520	17	have	have	AUX
cblr-1711	520	18	chosen	choose	VERB
cblr-1711	520	19	not	not	PART
cblr-1711	520	20	to	to	PART
cblr-1711	520	21	seek	seek	VERB
cblr-1711	520	22	it	it	PRON
cblr-1711	520	23	.	.	PUNCT
cblr-1711	521	1	similarly	similarly	ADV
cblr-1711	521	2	,	,	PUNCT
cblr-1711	521	3	the	the	DET
cblr-1711	521	4	startup	startup	NOUN
cblr-1711	521	5	should	should	AUX
cblr-1711	521	6	be	be	AUX
cblr-1711	521	7	required	require	VERB
cblr-1711	521	8	to	to	PART
cblr-1711	521	9	disclose	disclose	VERB
cblr-1711	521	10	whether	whether	SCONJ
cblr-1711	521	11	a	a	DET
cblr-1711	521	12	patent	patent	NOUN
cblr-1711	521	13	has	have	AUX
cblr-1711	521	14	been	be	AUX
cblr-1711	521	15	filed	file	VERB
cblr-1711	521	16	or	or	CCONJ
cblr-1711	521	17	issued	issue	VERB
cblr-1711	521	18	.	.	PUNCT
cblr-1711	522	1	with	with	ADP
cblr-1711	522	2	more	more	ADV
cblr-1711	522	3	expansive	expansive	ADJ
cblr-1711	522	4	disclosure	disclosure	NOUN
cblr-1711	522	5	requirements	requirement	NOUN
cblr-1711	522	6	,	,	PUNCT
cblr-1711	522	7	investors	investor	NOUN
cblr-1711	522	8	will	will	AUX
cblr-1711	522	9	be	be	AUX
cblr-1711	522	10	better	well	ADV
cblr-1711	522	11	able	able	ADJ
cblr-1711	522	12	to	to	PART
cblr-1711	522	13	screen	screen	VERB
cblr-1711	522	14	and	and	CCONJ
cblr-1711	522	15	make	make	VERB
cblr-1711	522	16	informed	informed	ADJ
cblr-1711	522	17	decisions	decision	NOUN
cblr-1711	522	18	as	as	ADP
cblr-1711	522	19	to	to	ADP
cblr-1711	522	20	the	the	DET
cblr-1711	522	21	quality	quality	NOUN
cblr-1711	522	22	of	of	ADP
cblr-1711	522	23	the	the	DET
cblr-1711	522	24	venture	venture	NOUN
cblr-1711	522	25	in	in	ADP
cblr-1711	522	26	which	which	PRON
cblr-1711	522	27	they	they	PRON
cblr-1711	522	28	are	be	AUX
cblr-1711	522	29	considering	consider	VERB
cblr-1711	522	30	investing	invest	VERB
cblr-1711	522	31	.	.	PUNCT
cblr-1711	523	1	disclosure	disclosure	NOUN
cblr-1711	523	2	through	through	ADP
cblr-1711	523	3	the	the	DET
cblr-1711	523	4	intermediary	intermediary	NOUN
cblr-1711	523	5	and	and	CCONJ
cblr-1711	523	6	a	a	DET
cblr-1711	523	7	checkbox	checkbox	NOUN
cblr-1711	523	8	with	with	ADP
cblr-1711	523	9	explanation	explanation	NOUN
cblr-1711	523	10	format	format	NOUN
cblr-1711	523	11	can	can	AUX
cblr-1711	523	12	minimize	minimize	VERB
cblr-1711	523	13	the	the	DET
cblr-1711	523	14	risk	risk	NOUN
cblr-1711	523	15	of	of	ADP
cblr-1711	523	16	disclosure	disclosure	NOUN
cblr-1711	523	17	overload	overload	NOUN
cblr-1711	523	18	for	for	ADP
cblr-1711	523	19	the	the	DET
cblr-1711	523	20	unsophisticated	unsophisticated	ADJ
cblr-1711	523	21	investor	investor	NOUN
cblr-1711	523	22	.	.	PUNCT
cblr-1711	524	1	in	in	ADP
cblr-1711	524	2	biotech	biotech	NOUN
cblr-1711	524	3	,	,	PUNCT
cblr-1711	524	4	fda	fda	PROPN
cblr-1711	524	5	regulations	regulation	NOUN
cblr-1711	524	6	and	and	CCONJ
cblr-1711	524	7	patent	patent	NOUN
cblr-1711	524	8	law	law	NOUN
cblr-1711	524	9	already	already	ADV
cblr-1711	524	10	serve	serve	VERB
cblr-1711	524	11	to	to	PART
cblr-1711	524	12	protect	protect	VERB
cblr-1711	524	13	consumers	consumer	NOUN
cblr-1711	524	14	and	and	CCONJ
cblr-1711	524	15	innovators	innovator	NOUN
cblr-1711	524	16	.	.	PUNCT
cblr-1711	525	1	by	by	ADP
cblr-1711	525	2	integrating	integrate	VERB
cblr-1711	525	3	these	these	DET
cblr-1711	525	4	areas	area	NOUN
cblr-1711	525	5	into	into	ADP
cblr-1711	525	6	the	the	DET
cblr-1711	525	7	jobs	job	NOUN
cblr-1711	525	8	act	act	NOUN
cblr-1711	525	9	,	,	PUNCT
cblr-1711	525	10	they	they	PRON
cblr-1711	525	11	can	can	AUX
cblr-1711	525	12	help	help	VERB
cblr-1711	525	13	protect	protect	VERB
cblr-1711	525	14	investors	investor	NOUN
cblr-1711	525	15	as	as	ADV
cblr-1711	525	16	well	well	ADV
cblr-1711	525	17	.	.	PUNCT