id	sid	tid	token	lemma	pos
inlawrev-22390	1	1	false	false	ADJ
inlawrev-22390	1	2	start	start	NOUN
inlawrev-22390	1	3	:	:	PUNCT
inlawrev-22390	1	4	carving	carve	VERB
inlawrev-22390	1	5	a	a	DET
inlawrev-22390	1	6	niche	niche	NOUN
inlawrev-22390	1	7	for	for	ADP
inlawrev-22390	1	8	established	establish	VERB
inlawrev-22390	1	9	small	small	ADJ
inlawrev-22390	1	10	business	business	NOUN
inlawrev-22390	1	11	participation	participation	NOUN
inlawrev-22390	1	12	in	in	ADP
inlawrev-22390	1	13	regulation	regulation	NOUN
inlawrev-22390	1	14	crowdfunding	crowdfunding	NOUN
inlawrev-22390	1	15	rules	rule	NOUN
inlawrev-22390	1	16	designed	design	VERB
inlawrev-22390	1	17	for	for	ADP
inlawrev-22390	1	18	startups	startup	NOUN
inlawrev-22390	1	19	patrick	patrick	PROPN
inlawrev-22390	1	20	mccarney	mccarney	PROPN
inlawrev-22390	1	21	*	*	PUNCT
inlawrev-22390	1	22	introduction	introduction	NOUN
inlawrev-22390	1	23	regulation	regulation	NOUN
inlawrev-22390	1	24	crowdfunding	crowdfunding	NOUN
inlawrev-22390	1	25	has	have	AUX
inlawrev-22390	1	26	been	be	AUX
inlawrev-22390	1	27	called	call	VERB
inlawrev-22390	1	28	an	an	DET
inlawrev-22390	1	29	“	"	PUNCT
inlawrev-22390	1	30	assault	assault	NOUN
inlawrev-22390	1	31	on	on	ADP
inlawrev-22390	1	32	investor	investor	NOUN
inlawrev-22390	1	33	protection	protection	NOUN
inlawrev-22390	1	34	”	"	PUNCT
inlawrev-22390	1	35	by	by	ADP
inlawrev-22390	1	36	some	some	PRON
inlawrev-22390	1	37	and	and	CCONJ
inlawrev-22390	1	38	“	"	PUNCT
inlawrev-22390	1	39	ill	ill	ADV
inlawrev-22390	1	40	-	-	PUNCT
inlawrev-22390	1	41	conceived	conceive	VERB
inlawrev-22390	1	42	and	and	CCONJ
inlawrev-22390	1	43	burdensome	burdensome	ADJ
inlawrev-22390	1	44	”	"	PUNCT
inlawrev-22390	1	45	by	by	ADP
inlawrev-22390	1	46	others.1	others.1	PROPN
inlawrev-22390	1	47	title	title	NOUN
inlawrev-22390	1	48	iii	iii	NUM
inlawrev-22390	1	49	of	of	ADP
inlawrev-22390	1	50	the	the	DET
inlawrev-22390	1	51	jumpstart	jumpstart	NOUN
inlawrev-22390	1	52	our	our	PRON
inlawrev-22390	1	53	business	business	NOUN
inlawrev-22390	1	54	startups	startup	NOUN
inlawrev-22390	1	55	act2	act2	PROPN
inlawrev-22390	1	56	was	be	AUX
inlawrev-22390	1	57	meant	mean	VERB
inlawrev-22390	1	58	to	to	PART
inlawrev-22390	1	59	help	help	VERB
inlawrev-22390	1	60	speed	speed	VERB
inlawrev-22390	1	61	up	up	ADP
inlawrev-22390	1	62	the	the	DET
inlawrev-22390	1	63	sluggish	sluggish	ADJ
inlawrev-22390	1	64	postrecession	postrecession	NOUN
inlawrev-22390	1	65	economic	economic	ADJ
inlawrev-22390	1	66	recovery	recovery	NOUN
inlawrev-22390	1	67	by	by	ADP
inlawrev-22390	1	68	creating	create	VERB
inlawrev-22390	1	69	a	a	DET
inlawrev-22390	1	70	new	new	ADJ
inlawrev-22390	1	71	method	method	NOUN
inlawrev-22390	1	72	for	for	SCONJ
inlawrev-22390	1	73	businesses	business	NOUN
inlawrev-22390	1	74	to	to	PART
inlawrev-22390	1	75	access	access	VERB
inlawrev-22390	1	76	capital	capital	NOUN
inlawrev-22390	1	77	:	:	PUNCT
inlawrev-22390	1	78	regulation	regulation	NOUN
inlawrev-22390	1	79	crowdfunding.3	crowdfunding.3	PROPN
inlawrev-22390	1	80	title	title	PROPN
inlawrev-22390	1	81	iii	iii	NUM
inlawrev-22390	1	82	created	create	VERB
inlawrev-22390	1	83	a	a	DET
inlawrev-22390	1	84	mechanism	mechanism	NOUN
inlawrev-22390	1	85	for	for	SCONJ
inlawrev-22390	1	86	entrepreneurs	entrepreneur	NOUN
inlawrev-22390	1	87	to	to	PART
inlawrev-22390	1	88	sell	sell	VERB
inlawrev-22390	1	89	stocks	stock	NOUN
inlawrev-22390	1	90	and	and	CCONJ
inlawrev-22390	1	91	bonds	bond	NOUN
inlawrev-22390	1	92	in	in	ADP
inlawrev-22390	1	93	their	their	PRON
inlawrev-22390	1	94	companies	company	NOUN
inlawrev-22390	1	95	via	via	ADP
inlawrev-22390	1	96	specialized	specialized	ADJ
inlawrev-22390	1	97	crowdfunding	crowdfunding	NOUN
inlawrev-22390	1	98	platforms	platform	NOUN
inlawrev-22390	1	99	similar	similar	ADJ
inlawrev-22390	1	100	to	to	ADP
inlawrev-22390	1	101	kickstarter	kickstarter	PROPN
inlawrev-22390	1	102	or	or	CCONJ
inlawrev-22390	1	103	gofundme.4	gofundme.4	PROPN
inlawrev-22390	1	104	without	without	ADP
inlawrev-22390	1	105	this	this	DET
inlawrev-22390	1	106	legal	legal	ADJ
inlawrev-22390	1	107	mechanism	mechanism	NOUN
inlawrev-22390	1	108	,	,	PUNCT
inlawrev-22390	1	109	crowdfunding	crowdfunde	VERB
inlawrev-22390	1	110	the	the	DET
inlawrev-22390	1	111	sale	sale	NOUN
inlawrev-22390	1	112	of	of	ADP
inlawrev-22390	1	113	stock	stock	NOUN
inlawrev-22390	1	114	would	would	AUX
inlawrev-22390	1	115	have	have	AUX
inlawrev-22390	1	116	violated	violate	VERB
inlawrev-22390	1	117	federal	federal	ADJ
inlawrev-22390	1	118	securities	security	NOUN
inlawrev-22390	1	119	law	law	NOUN
inlawrev-22390	1	120	,	,	PUNCT
inlawrev-22390	1	121	which	which	PRON
inlawrev-22390	1	122	strictly	strictly	ADV
inlawrev-22390	1	123	limits	limit	VERB
inlawrev-22390	1	124	public	public	ADJ
inlawrev-22390	1	125	transactions	transaction	NOUN
inlawrev-22390	1	126	that	that	PRON
inlawrev-22390	1	127	involve	involve	VERB
inlawrev-22390	1	128	the	the	DET
inlawrev-22390	1	129	expectation	expectation	NOUN
inlawrev-22390	1	130	of	of	ADP
inlawrev-22390	1	131	a	a	DET
inlawrev-22390	1	132	financial	financial	ADJ
inlawrev-22390	1	133	return.5	return.5	NOUN
inlawrev-22390	1	134	importantly	importantly	ADV
inlawrev-22390	1	135	,	,	PUNCT
inlawrev-22390	1	136	this	this	PRON
inlawrev-22390	1	137	was	be	AUX
inlawrev-22390	1	138	the	the	DET
inlawrev-22390	1	139	first	first	ADJ
inlawrev-22390	1	140	time	time	NOUN
inlawrev-22390	1	141	since	since	SCONJ
inlawrev-22390	1	142	the	the	DET
inlawrev-22390	1	143	great	great	ADJ
inlawrev-22390	1	144	depression	depression	NOUN
inlawrev-22390	1	145	all	all	DET
inlawrev-22390	1	146	americans	americans	PROPN
inlawrev-22390	1	147	,	,	PUNCT
inlawrev-22390	1	148	*	*	PUNCT
inlawrev-22390	1	149	j.d	j.d	PROPN
inlawrev-22390	1	150	.	.	PROPN
inlawrev-22390	1	151	candidate	candidate	NOUN
inlawrev-22390	1	152	,	,	PUNCT
inlawrev-22390	1	153	2019	2019	NUM
inlawrev-22390	1	154	,	,	PUNCT
inlawrev-22390	1	155	indiana	indiana	PROPN
inlawrev-22390	1	156	university	university	PROPN
inlawrev-22390	1	157	robert	robert	PROPN
inlawrev-22390	1	158	h.	h.	PROPN
inlawrev-22390	1	159	mckinney	mckinney	PROPN
inlawrev-22390	1	160	school	school	PROPN
inlawrev-22390	1	161	of	of	ADP
inlawrev-22390	1	162	law	law	NOUN
inlawrev-22390	1	163	;	;	PUNCT
inlawrev-22390	1	164	mba	mba	NOUN
inlawrev-22390	1	165	candidate	candidate	NOUN
inlawrev-22390	1	166	,	,	PUNCT
inlawrev-22390	1	167	2019	2019	NUM
inlawrev-22390	1	168	,	,	PUNCT
inlawrev-22390	1	169	purdue	purdue	PROPN
inlawrev-22390	1	170	university	university	PROPN
inlawrev-22390	1	171	krannert	krannert	NOUN
inlawrev-22390	1	172	school	school	PROPN
inlawrev-22390	1	173	of	of	ADP
inlawrev-22390	1	174	management	management	NOUN
inlawrev-22390	1	175	;	;	PUNCT
inlawrev-22390	1	176	bachelor	bachelor	NOUN
inlawrev-22390	1	177	of	of	ADP
inlawrev-22390	1	178	arts	art	NOUN
inlawrev-22390	1	179	,	,	PUNCT
inlawrev-22390	1	180	2007	2007	NUM
inlawrev-22390	1	181	,	,	PUNCT
inlawrev-22390	1	182	butler	butler	PROPN
inlawrev-22390	1	183	university	university	PROPN
inlawrev-22390	1	184	.	.	PUNCT
inlawrev-22390	2	1	first	first	ADV
inlawrev-22390	2	2	and	and	CCONJ
inlawrev-22390	2	3	foremost	foremost	ADV
inlawrev-22390	2	4	,	,	PUNCT
inlawrev-22390	2	5	i	i	PRON
inlawrev-22390	2	6	would	would	AUX
inlawrev-22390	2	7	like	like	VERB
inlawrev-22390	2	8	to	to	PART
inlawrev-22390	2	9	thank	thank	VERB
inlawrev-22390	2	10	my	my	PRON
inlawrev-22390	2	11	wife	wife	NOUN
inlawrev-22390	2	12	,	,	PUNCT
inlawrev-22390	2	13	christy	christy	PROPN
inlawrev-22390	2	14	,	,	PUNCT
inlawrev-22390	2	15	and	and	CCONJ
inlawrev-22390	2	16	daughter	daughter	NOUN
inlawrev-22390	2	17	,	,	PUNCT
inlawrev-22390	2	18	mary	mary	PROPN
inlawrev-22390	2	19	louise	louise	PROPN
inlawrev-22390	2	20	,	,	PUNCT
inlawrev-22390	2	21	for	for	ADP
inlawrev-22390	2	22	their	their	PRON
inlawrev-22390	2	23	sacrifices	sacrifice	NOUN
inlawrev-22390	2	24	and	and	CCONJ
inlawrev-22390	2	25	support	support	NOUN
inlawrev-22390	2	26	during	during	ADP
inlawrev-22390	2	27	my	my	PRON
inlawrev-22390	2	28	law	law	NOUN
inlawrev-22390	2	29	school	school	NOUN
inlawrev-22390	2	30	adventures	adventure	VERB
inlawrev-22390	2	31	.	.	PUNCT
inlawrev-22390	3	1	i	i	PRON
inlawrev-22390	3	2	would	would	AUX
inlawrev-22390	3	3	also	also	ADV
inlawrev-22390	3	4	like	like	VERB
inlawrev-22390	3	5	to	to	PART
inlawrev-22390	3	6	thank	thank	VERB
inlawrev-22390	3	7	professor	professor	PROPN
inlawrev-22390	3	8	frank	frank	PROPN
inlawrev-22390	3	9	sullivan	sullivan	PROPN
inlawrev-22390	3	10	for	for	ADP
inlawrev-22390	3	11	his	his	PRON
inlawrev-22390	3	12	candor	candor	NOUN
inlawrev-22390	3	13	and	and	CCONJ
inlawrev-22390	3	14	thoughtful	thoughtful	ADJ
inlawrev-22390	3	15	advice	advice	NOUN
inlawrev-22390	3	16	;	;	PUNCT
inlawrev-22390	3	17	my	my	PRON
inlawrev-22390	3	18	brother	brother	NOUN
inlawrev-22390	3	19	,	,	PUNCT
inlawrev-22390	3	20	michael	michael	PROPN
inlawrev-22390	3	21	,	,	PUNCT
inlawrev-22390	3	22	for	for	ADP
inlawrev-22390	3	23	his	his	PRON
inlawrev-22390	3	24	critical	critical	ADJ
inlawrev-22390	3	25	eye	eye	NOUN
inlawrev-22390	3	26	;	;	PUNCT
inlawrev-22390	3	27	and	and	CCONJ
inlawrev-22390	3	28	eugene	eugene	PROPN
inlawrev-22390	3	29	henderson	henderson	PROPN
inlawrev-22390	3	30	for	for	ADP
inlawrev-22390	3	31	encouraging	encourage	VERB
inlawrev-22390	3	32	me	i	PRON
inlawrev-22390	3	33	to	to	PART
inlawrev-22390	3	34	investigate	investigate	VERB
inlawrev-22390	3	35	a	a	DET
inlawrev-22390	3	36	topic	topic	NOUN
inlawrev-22390	3	37	i	i	PRON
inlawrev-22390	3	38	would	would	AUX
inlawrev-22390	3	39	have	have	AUX
inlawrev-22390	3	40	otherwise	otherwise	ADV
inlawrev-22390	3	41	overlooked	overlook	VERB
inlawrev-22390	3	42	.	.	PUNCT
inlawrev-22390	4	1	1	1	X
inlawrev-22390	4	2	.	.	PUNCT
inlawrev-22390	5	1	john	john	PROPN
inlawrev-22390	5	2	s.	s.	PROPN
inlawrev-22390	5	3	(	(	PUNCT
inlawrev-22390	5	4	jack	jack	PROPN
inlawrev-22390	5	5	)	)	PUNCT
inlawrev-22390	5	6	wroldsen	wroldsen	PROPN
inlawrev-22390	5	7	,	,	PUNCT
inlawrev-22390	5	8	the	the	DET
inlawrev-22390	5	9	social	social	ADJ
inlawrev-22390	5	10	network	network	NOUN
inlawrev-22390	5	11	and	and	CCONJ
inlawrev-22390	5	12	the	the	DET
inlawrev-22390	5	13	crowdfund	crowdfund	PROPN
inlawrev-22390	5	14	act	act	PROPN
inlawrev-22390	5	15	:	:	PUNCT
inlawrev-22390	5	16	zuckerberg	zuckerberg	PROPN
inlawrev-22390	5	17	,	,	PUNCT
inlawrev-22390	5	18	saverin	saverin	NOUN
inlawrev-22390	5	19	,	,	PUNCT
inlawrev-22390	5	20	and	and	CCONJ
inlawrev-22390	5	21	venture	venture	NOUN
inlawrev-22390	5	22	capitalists	capitalist	NOUN
inlawrev-22390	5	23	’	'	PUNCT
inlawrev-22390	5	24	dilution	dilution	NOUN
inlawrev-22390	5	25	of	of	ADP
inlawrev-22390	5	26	the	the	DET
inlawrev-22390	5	27	crowd	crowd	NOUN
inlawrev-22390	5	28	,	,	PUNCT
inlawrev-22390	5	29	15	15	NUM
inlawrev-22390	5	30	vand	vand	NOUN
inlawrev-22390	5	31	.	.	PUNCT
inlawrev-22390	6	1	j.	j.	PROPN
inlawrev-22390	6	2	ent	ent	PROPN
inlawrev-22390	6	3	.	.	PROPN
inlawrev-22390	6	4	&	&	CCONJ
inlawrev-22390	6	5	tech	tech	PROPN
inlawrev-22390	6	6	.	.	PUNCT
inlawrev-22390	7	1	l.	l.	PROPN
inlawrev-22390	7	2	583	583	NUM
inlawrev-22390	7	3	,	,	PUNCT
inlawrev-22390	7	4	599	599	NUM
inlawrev-22390	7	5	(	(	PUNCT
inlawrev-22390	7	6	2013	2013	NUM
inlawrev-22390	7	7	)	)	PUNCT
inlawrev-22390	7	8	(	(	PUNCT
inlawrev-22390	7	9	quoting	quote	VERB
inlawrev-22390	7	10	statements	statement	NOUN
inlawrev-22390	7	11	of	of	ADP
inlawrev-22390	7	12	sen	sen	PROPN
inlawrev-22390	7	13	.	.	PROPN
inlawrev-22390	7	14	carl	carl	PROPN
inlawrev-22390	7	15	levin	levin	PROPN
inlawrev-22390	7	16	and	and	CCONJ
inlawrev-22390	7	17	rep	rep	PROPN
inlawrev-22390	7	18	.	.	PROPN
inlawrev-22390	7	19	james	james	PROPN
inlawrev-22390	7	20	himes	himes	PROPN
inlawrev-22390	7	21	)	)	PUNCT
inlawrev-22390	7	22	.	.	PUNCT
inlawrev-22390	8	1	2	2	X
inlawrev-22390	8	2	.	.	X
inlawrev-22390	8	3	jumpstart	jumpstart	VERB
inlawrev-22390	8	4	our	our	PRON
inlawrev-22390	8	5	business	business	NOUN
inlawrev-22390	8	6	startups	startup	NOUN
inlawrev-22390	8	7	act	act	PROPN
inlawrev-22390	8	8	,	,	PUNCT
inlawrev-22390	8	9	pub	pub	NOUN
inlawrev-22390	8	10	.	.	PUNCT
inlawrev-22390	9	1	l.	l.	PROPN
inlawrev-22390	9	2	no	no	INTJ
inlawrev-22390	9	3	.	.	PROPN
inlawrev-22390	10	1	112	112	NUM
inlawrev-22390	10	2	-	-	SYM
inlawrev-22390	10	3	106	106	NUM
inlawrev-22390	10	4	§	§	PROPN
inlawrev-22390	10	5	§	§	PROPN
inlawrev-22390	10	6	301	301	NUM
inlawrev-22390	10	7	-	-	SYM
inlawrev-22390	10	8	05	05	NUM
inlawrev-22390	10	9	,	,	PUNCT
inlawrev-22390	10	10	126	126	NUM
inlawrev-22390	10	11	stat	stat	NOUN
inlawrev-22390	10	12	.	.	PUNCT
inlawrev-22390	11	1	306	306	NUM
inlawrev-22390	11	2	,	,	PUNCT
inlawrev-22390	11	3	31523	31523	NUM
inlawrev-22390	11	4	(	(	PUNCT
inlawrev-22390	11	5	2012	2012	NUM
inlawrev-22390	11	6	)	)	PUNCT
inlawrev-22390	12	1	[	[	X
inlawrev-22390	12	2	hereinafter	hereinafter	NOUN
inlawrev-22390	12	3	jobs	job	NOUN
inlawrev-22390	12	4	act	act	VERB
inlawrev-22390	12	5	]	]	PUNCT
inlawrev-22390	12	6	.	.	PUNCT
inlawrev-22390	13	1	there	there	PRON
inlawrev-22390	13	2	were	be	VERB
inlawrev-22390	13	3	seven	seven	NUM
inlawrev-22390	13	4	total	total	ADJ
inlawrev-22390	13	5	titles	title	NOUN
inlawrev-22390	13	6	in	in	ADP
inlawrev-22390	13	7	the	the	DET
inlawrev-22390	13	8	jobs	job	NOUN
inlawrev-22390	13	9	act	act	NOUN
inlawrev-22390	13	10	,	,	PUNCT
inlawrev-22390	13	11	but	but	CCONJ
inlawrev-22390	13	12	only	only	ADV
inlawrev-22390	13	13	title	title	NOUN
inlawrev-22390	13	14	iii	iii	PROPN
inlawrev-22390	13	15	is	be	AUX
inlawrev-22390	13	16	relevant	relevant	ADJ
inlawrev-22390	13	17	to	to	ADP
inlawrev-22390	13	18	this	this	DET
inlawrev-22390	13	19	note	note	NOUN
inlawrev-22390	13	20	.	.	PUNCT
inlawrev-22390	14	1	i	i	PRON
inlawrev-22390	14	2	d.	d.	PROPN
inlawrev-22390	14	3	§	§	PROPN
inlawrev-22390	14	4	2	2	NUM
inlawrev-22390	14	5	.	.	NOUN
inlawrev-22390	14	6	3	3	NUM
inlawrev-22390	14	7	.	.	PUNCT
inlawrev-22390	14	8	graham	graham	PROPN
inlawrev-22390	14	9	rogers	rogers	PROPN
inlawrev-22390	14	10	,	,	PUNCT
inlawrev-22390	14	11	much	much	ADJ
inlawrev-22390	14	12	ado	ado	VERB
inlawrev-22390	14	13	about	about	ADP
inlawrev-22390	14	14	nothing	nothing	PRON
inlawrev-22390	14	15	:	:	PUNCT
inlawrev-22390	14	16	why	why	SCONJ
inlawrev-22390	14	17	the	the	DET
inlawrev-22390	14	18	equity	equity	NOUN
inlawrev-22390	14	19	crowdfunding	crowdfunding	NOUN
inlawrev-22390	14	20	exemption	exemption	NOUN
inlawrev-22390	14	21	will	will	AUX
inlawrev-22390	14	22	only	only	ADV
inlawrev-22390	14	23	be	be	AUX
inlawrev-22390	14	24	useful	useful	ADJ
inlawrev-22390	14	25	to	to	ADP
inlawrev-22390	14	26	a	a	DET
inlawrev-22390	14	27	few	few	ADJ
inlawrev-22390	14	28	,	,	PUNCT
inlawrev-22390	14	29	and	and	CCONJ
inlawrev-22390	14	30	what	what	PRON
inlawrev-22390	14	31	to	to	PART
inlawrev-22390	14	32	do	do	VERB
inlawrev-22390	14	33	about	about	ADP
inlawrev-22390	14	34	it	it	PRON
inlawrev-22390	14	35	,	,	PUNCT
inlawrev-22390	14	36	35	35	NUM
inlawrev-22390	14	37	rev	rev	X
inlawrev-22390	14	38	.	.	PUNCT
inlawrev-22390	14	39	banking	banking	NOUN
inlawrev-22390	14	40	&	&	CCONJ
inlawrev-22390	14	41	fin	fin	PROPN
inlawrev-22390	14	42	.	.	PUNCT
inlawrev-22390	15	1	l.	l.	PROPN
inlawrev-22390	15	2	335	335	NUM
inlawrev-22390	15	3	,	,	PUNCT
inlawrev-22390	15	4	338	338	NUM
inlawrev-22390	15	5	-	-	SYM
inlawrev-22390	15	6	40	40	NUM
inlawrev-22390	15	7	(	(	PUNCT
inlawrev-22390	15	8	2015	2015	NUM
inlawrev-22390	15	9	)	)	PUNCT
inlawrev-22390	15	10	.	.	PUNCT
inlawrev-22390	16	1	the	the	DET
inlawrev-22390	16	2	sec	sec	PROPN
inlawrev-22390	16	3	uses	use	VERB
inlawrev-22390	16	4	the	the	DET
inlawrev-22390	16	5	term	term	NOUN
inlawrev-22390	16	6	“	"	PUNCT
inlawrev-22390	16	7	regulation	regulation	NOUN
inlawrev-22390	16	8	crowdfunding	crowdfunding	NOUN
inlawrev-22390	16	9	”	"	PUNCT
inlawrev-22390	16	10	to	to	PART
inlawrev-22390	16	11	describe	describe	VERB
inlawrev-22390	16	12	the	the	DET
inlawrev-22390	16	13	sale	sale	NOUN
inlawrev-22390	16	14	of	of	ADP
inlawrev-22390	16	15	securities	security	NOUN
inlawrev-22390	16	16	through	through	ADP
inlawrev-22390	16	17	crowdfunding	crowdfunding	NOUN
inlawrev-22390	16	18	.	.	PUNCT
inlawrev-22390	17	1	press	press	NOUN
inlawrev-22390	17	2	release	release	PROPN
inlawrev-22390	17	3	,	,	PUNCT
inlawrev-22390	17	4	sec	sec	PROPN
inlawrev-22390	17	5	,	,	PUNCT
inlawrev-22390	17	6	sec	sec	PROPN
inlawrev-22390	17	7	adopts	adopt	VERB
inlawrev-22390	17	8	rules	rule	NOUN
inlawrev-22390	17	9	to	to	PART
inlawrev-22390	17	10	permit	permit	VERB
inlawrev-22390	17	11	crowdfunding	crowdfunde	VERB
inlawrev-22390	17	12	(	(	PUNCT
inlawrev-22390	17	13	oct	oct	PROPN
inlawrev-22390	17	14	.	.	PROPN
inlawrev-22390	17	15	30	30	NUM
inlawrev-22390	17	16	,	,	PUNCT
inlawrev-22390	17	17	2015	2015	NUM
inlawrev-22390	17	18	)	)	PUNCT
inlawrev-22390	17	19	,	,	PUNCT
inlawrev-22390	17	20	available	available	ADJ
inlawrev-22390	17	21	at	at	ADP
inlawrev-22390	17	22	https://www.sec.gov/news/pressrelease/2015-249.html	https://www.sec.gov/news/pressrelease/2015-249.html	NOUN
inlawrev-22390	17	23	[	[	X
inlawrev-22390	17	24	https://perma.cc/5gtb-vu25	https://perma.cc/5gtb-vu25	X
inlawrev-22390	17	25	]	]	X
inlawrev-22390	17	26	.	.	PUNCT
inlawrev-22390	18	1	4	4	X
inlawrev-22390	18	2	.	.	X
inlawrev-22390	18	3	jobs	job	NOUN
inlawrev-22390	18	4	act	act	VERB
inlawrev-22390	18	5	§	§	PROPN
inlawrev-22390	18	6	302	302	NUM
inlawrev-22390	18	7	.	.	PUNCT
inlawrev-22390	19	1	the	the	DET
inlawrev-22390	19	2	jobs	job	NOUN
inlawrev-22390	19	3	act	act	NOUN
inlawrev-22390	19	4	uses	use	VERB
inlawrev-22390	19	5	the	the	DET
inlawrev-22390	19	6	word	word	NOUN
inlawrev-22390	19	7	intermediaries	intermediary	NOUN
inlawrev-22390	19	8	.	.	PUNCT
inlawrev-22390	20	1	i	i	PRON
inlawrev-22390	20	2	d.	d.	PROPN
inlawrev-22390	20	3	these	these	DET
inlawrev-22390	20	4	intermediaries	intermediary	NOUN
inlawrev-22390	20	5	are	be	AUX
inlawrev-22390	20	6	required	require	VERB
inlawrev-22390	20	7	to	to	PART
inlawrev-22390	20	8	register	register	VERB
inlawrev-22390	20	9	with	with	ADP
inlawrev-22390	20	10	the	the	DET
inlawrev-22390	20	11	sec	sec	PROPN
inlawrev-22390	20	12	as	as	ADP
inlawrev-22390	20	13	a	a	DET
inlawrev-22390	20	14	broker	broker	NOUN
inlawrev-22390	20	15	or	or	CCONJ
inlawrev-22390	20	16	a	a	DET
inlawrev-22390	20	17	funding	funding	NOUN
inlawrev-22390	20	18	portal	portal	NOUN
inlawrev-22390	20	19	.	.	PUNCT
inlawrev-22390	21	1	i	i	PRON
inlawrev-22390	21	2	d.	d.	PROPN
inlawrev-22390	21	3	a	a	DET
inlawrev-22390	21	4	funding	funding	NOUN
inlawrev-22390	21	5	portal	portal	NOUN
inlawrev-22390	21	6	is	be	AUX
inlawrev-22390	21	7	defined	define	VERB
inlawrev-22390	21	8	as	as	ADP
inlawrev-22390	21	9	“	"	PUNCT
inlawrev-22390	21	10	any	any	DET
inlawrev-22390	21	11	person	person	NOUN
inlawrev-22390	21	12	acting	act	VERB
inlawrev-22390	21	13	as	as	ADP
inlawrev-22390	21	14	an	an	DET
inlawrev-22390	21	15	intermediary	intermediary	NOUN
inlawrev-22390	21	16	in	in	ADP
inlawrev-22390	21	17	a	a	DET
inlawrev-22390	21	18	transaction	transaction	NOUN
inlawrev-22390	21	19	.	.	PUNCT
inlawrev-22390	21	20	.	.	PUNCT
inlawrev-22390	21	21	.	.	PUNCT
inlawrev-22390	22	1	solely	solely	ADV
inlawrev-22390	22	2	pursuant	pursuant	ADJ
inlawrev-22390	22	3	to	to	ADP
inlawrev-22390	22	4	.	.	PUNCT
inlawrev-22390	22	5	.	.	PUNCT
inlawrev-22390	22	6	.	.	PUNCT
inlawrev-22390	23	1	(	(	PUNCT
inlawrev-22390	23	2	15	15	NUM
inlawrev-22390	23	3	u.s.c	u.s.c	ADJ
inlawrev-22390	23	4	.	.	PUNCT
inlawrev-22390	24	1	77d(6	77d(6	NUM
inlawrev-22390	24	2	)	)	PUNCT
inlawrev-22390	24	3	)	)	PUNCT
inlawrev-22390	24	4	.	.	PUNCT
inlawrev-22390	24	5	”	"	PUNCT
inlawrev-22390	25	1	15	15	NUM
inlawrev-22390	25	2	u.s.c	u.s.c	NOUN
inlawrev-22390	25	3	.	.	PUNCT
inlawrev-22390	26	1	§	§	PROPN
inlawrev-22390	26	2	78c(a)(80	78c(a)(80	NUM
inlawrev-22390	26	3	)	)	PUNCT
inlawrev-22390	26	4	(	(	PUNCT
inlawrev-22390	26	5	2012	2012	NUM
inlawrev-22390	26	6	)	)	PUNCT
inlawrev-22390	26	7	(	(	PUNCT
inlawrev-22390	26	8	under	under	ADP
inlawrev-22390	26	9	the	the	DET
inlawrev-22390	26	10	definition	definition	NOUN
inlawrev-22390	26	11	of	of	ADP
inlawrev-22390	26	12	“	"	PUNCT
inlawrev-22390	26	13	funding	funding	NOUN
inlawrev-22390	26	14	portal	portal	NOUN
inlawrev-22390	26	15	”	"	PUNCT
inlawrev-22390	26	16	)	)	PUNCT
inlawrev-22390	26	17	;	;	PUNCT
inlawrev-22390	26	18	see	see	VERB
inlawrev-22390	26	19	also	also	ADV
inlawrev-22390	26	20	kickstarter	kickstarter	PROPN
inlawrev-22390	26	21	,	,	PUNCT
inlawrev-22390	26	22	https://www.kickstarter.com	https://www.kickstarter.com	X
inlawrev-22390	27	1	[	[	X
inlawrev-22390	27	2	https://perma.cc/48tq-tm64	https://perma.cc/48tq-tm64	X
inlawrev-22390	27	3	]	]	X
inlawrev-22390	27	4	(	(	PUNCT
inlawrev-22390	27	5	last	last	ADV
inlawrev-22390	27	6	visited	visit	VERB
inlawrev-22390	27	7	dec	dec	PROPN
inlawrev-22390	27	8	.	.	PROPN
inlawrev-22390	27	9	3	3	NUM
inlawrev-22390	27	10	,	,	PUNCT
inlawrev-22390	27	11	2017	2017	NUM
inlawrev-22390	27	12	)	)	PUNCT
inlawrev-22390	27	13	;	;	PUNCT
inlawrev-22390	27	14	gofundme	gofundme	NOUN
inlawrev-22390	27	15	,	,	PUNCT
inlawrev-22390	27	16	https://www.gofundme.com	https://www.gofundme.com	X
inlawrev-22390	28	1	[	[	X
inlawrev-22390	28	2	https://perma.cc/m7qm-p8mn	https://perma.cc/m7qm-p8mn	X
inlawrev-22390	28	3	]	]	X
inlawrev-22390	28	4	(	(	PUNCT
inlawrev-22390	28	5	last	last	ADV
inlawrev-22390	28	6	visited	visit	VERB
inlawrev-22390	28	7	dec	dec	PROPN
inlawrev-22390	28	8	.	.	PROPN
inlawrev-22390	28	9	3	3	NUM
inlawrev-22390	28	10	,	,	PUNCT
inlawrev-22390	28	11	2017	2017	NUM
inlawrev-22390	28	12	)	)	PUNCT
inlawrev-22390	28	13	.	.	PUNCT
inlawrev-22390	29	1	5	5	X
inlawrev-22390	29	2	.	.	X
inlawrev-22390	29	3	crowdfunding	crowdfunding	NOUN
inlawrev-22390	29	4	,	,	PUNCT
inlawrev-22390	29	5	80	80	NUM
inlawrev-22390	29	6	fed	feed	VERB
inlawrev-22390	29	7	.	.	PUNCT
inlawrev-22390	30	1	reg	reg	PROPN
inlawrev-22390	30	2	.	.	PUNCT
inlawrev-22390	31	1	71,388	71,388	NUM
inlawrev-22390	31	2	,	,	PUNCT
inlawrev-22390	31	3	71,389	71,389	NUM
inlawrev-22390	31	4	(	(	PUNCT
inlawrev-22390	31	5	nov	nov	PROPN
inlawrev-22390	31	6	.	.	PROPN
inlawrev-22390	31	7	16	16	NUM
inlawrev-22390	31	8	,	,	PUNCT
inlawrev-22390	31	9	2015	2015	NUM
inlawrev-22390	31	10	)	)	PUNCT
inlawrev-22390	31	11	.	.	PUNCT
inlawrev-22390	32	1	http://doi.org/10.18060/4806.1189	http://doi.org/10.18060/4806.1189	ADJ
inlawrev-22390	32	2	278	278	NUM
inlawrev-22390	32	3	indiana	indiana	PROPN
inlawrev-22390	32	4	law	law	NOUN
inlawrev-22390	32	5	review	review	NOUN
inlawrev-22390	33	1	[	[	X
inlawrev-22390	33	2	vol	vol	NOUN
inlawrev-22390	33	3	.	.	PUNCT
inlawrev-22390	33	4	51:277	51:277	NOUN
inlawrev-22390	33	5	regardless	regardless	ADV
inlawrev-22390	33	6	of	of	ADP
inlawrev-22390	33	7	economic	economic	ADJ
inlawrev-22390	33	8	background	background	NOUN
inlawrev-22390	33	9	,	,	PUNCT
inlawrev-22390	33	10	were	be	AUX
inlawrev-22390	33	11	given	give	VERB
inlawrev-22390	33	12	the	the	DET
inlawrev-22390	33	13	opportunity	opportunity	NOUN
inlawrev-22390	33	14	to	to	PART
inlawrev-22390	33	15	invest	invest	VERB
inlawrev-22390	33	16	in	in	ADP
inlawrev-22390	33	17	securities	security	NOUN
inlawrev-22390	33	18	offered	offer	VERB
inlawrev-22390	33	19	by	by	ADP
inlawrev-22390	33	20	non	non	ADJ
inlawrev-22390	33	21	-	-	ADJ
inlawrev-22390	33	22	public	public	ADJ
inlawrev-22390	33	23	companies.6	companies.6	PROPN
inlawrev-22390	33	24	after	after	SCONJ
inlawrev-22390	33	25	congress	congress	PROPN
inlawrev-22390	33	26	completed	complete	VERB
inlawrev-22390	33	27	the	the	DET
inlawrev-22390	33	28	statutory	statutory	ADJ
inlawrev-22390	33	29	framework	framework	NOUN
inlawrev-22390	33	30	for	for	ADP
inlawrev-22390	33	31	crowdfunding	crowdfunde	VERB
inlawrev-22390	33	32	in	in	ADP
inlawrev-22390	33	33	the	the	DET
inlawrev-22390	33	34	jobs	job	NOUN
inlawrev-22390	33	35	act	act	PROPN
inlawrev-22390	33	36	,	,	PUNCT
inlawrev-22390	33	37	the	the	DET
inlawrev-22390	33	38	securities	securities	PROPN
inlawrev-22390	33	39	and	and	CCONJ
inlawrev-22390	33	40	exchange	exchange	PROPN
inlawrev-22390	33	41	commission	commission	PROPN
inlawrev-22390	33	42	(	(	PUNCT
inlawrev-22390	33	43	sec	sec	PROPN
inlawrev-22390	33	44	)	)	PUNCT
inlawrev-22390	33	45	was	be	AUX
inlawrev-22390	33	46	required	require	VERB
inlawrev-22390	33	47	to	to	PART
inlawrev-22390	33	48	develop	develop	VERB
inlawrev-22390	33	49	a	a	DET
inlawrev-22390	33	50	final	final	ADJ
inlawrev-22390	33	51	set	set	NOUN
inlawrev-22390	33	52	of	of	ADP
inlawrev-22390	33	53	regulations	regulation	NOUN
inlawrev-22390	33	54	and	and	CCONJ
inlawrev-22390	33	55	standards	standard	NOUN
inlawrev-22390	33	56	that	that	PRON
inlawrev-22390	33	57	would	would	AUX
inlawrev-22390	33	58	fill	fill	VERB
inlawrev-22390	33	59	in	in	ADP
inlawrev-22390	33	60	some	some	DET
inlawrev-22390	33	61	gaps	gap	NOUN
inlawrev-22390	33	62	in	in	ADP
inlawrev-22390	33	63	the	the	DET
inlawrev-22390	33	64	law.7	law.7	NOUN
inlawrev-22390	33	65	the	the	DET
inlawrev-22390	33	66	sec	sec	PROPN
inlawrev-22390	33	67	adopted	adopt	VERB
inlawrev-22390	33	68	these	these	DET
inlawrev-22390	33	69	final	final	ADJ
inlawrev-22390	33	70	rules	rule	NOUN
inlawrev-22390	33	71	in	in	ADP
inlawrev-22390	33	72	october	october	PROPN
inlawrev-22390	33	73	2015,8	2015,8	NUM
inlawrev-22390	33	74	but	but	CCONJ
inlawrev-22390	33	75	the	the	DET
inlawrev-22390	33	76	debate	debate	NOUN
inlawrev-22390	33	77	about	about	ADP
inlawrev-22390	33	78	the	the	DET
inlawrev-22390	33	79	efficacy	efficacy	NOUN
inlawrev-22390	33	80	of	of	ADP
inlawrev-22390	33	81	this	this	DET
inlawrev-22390	33	82	law	law	NOUN
inlawrev-22390	33	83	continues.9	continues.9	NOUN
inlawrev-22390	33	84	some	some	DET
inlawrev-22390	33	85	critics	critic	NOUN
inlawrev-22390	33	86	have	have	AUX
inlawrev-22390	33	87	suggested	suggest	VERB
inlawrev-22390	33	88	that	that	SCONJ
inlawrev-22390	33	89	the	the	DET
inlawrev-22390	33	90	crowdfunding	crowdfunding	NOUN
inlawrev-22390	33	91	mechanism	mechanism	NOUN
inlawrev-22390	33	92	is	be	AUX
inlawrev-22390	33	93	n’t	not	PART
inlawrev-22390	33	94	useful	useful	ADJ
inlawrev-22390	33	95	because	because	SCONJ
inlawrev-22390	33	96	the	the	DET
inlawrev-22390	33	97	regulatory	regulatory	ADJ
inlawrev-22390	33	98	compliance	compliance	NOUN
inlawrev-22390	33	99	is	be	AUX
inlawrev-22390	33	100	burdensome	burdensome	ADJ
inlawrev-22390	33	101	and	and	CCONJ
inlawrev-22390	33	102	costly	costly	ADJ
inlawrev-22390	33	103	compared	compare	VERB
inlawrev-22390	33	104	to	to	ADP
inlawrev-22390	33	105	other	other	ADJ
inlawrev-22390	33	106	available	available	ADJ
inlawrev-22390	33	107	capital	capital	NOUN
inlawrev-22390	33	108	options.10	options.10	ADP
inlawrev-22390	33	109	they	they	PRON
inlawrev-22390	33	110	argue	argue	VERB
inlawrev-22390	33	111	that	that	SCONJ
inlawrev-22390	33	112	these	these	DET
inlawrev-22390	33	113	burdens	burden	NOUN
inlawrev-22390	33	114	need	need	VERB
inlawrev-22390	33	115	to	to	PART
inlawrev-22390	33	116	be	be	AUX
inlawrev-22390	33	117	reduced	reduce	VERB
inlawrev-22390	33	118	to	to	PART
inlawrev-22390	33	119	make	make	VERB
inlawrev-22390	33	120	the	the	DET
inlawrev-22390	33	121	law	law	NOUN
inlawrev-22390	33	122	work	work	NOUN
inlawrev-22390	33	123	or	or	CCONJ
inlawrev-22390	33	124	businesses	business	NOUN
inlawrev-22390	33	125	will	will	AUX
inlawrev-22390	33	126	simply	simply	ADV
inlawrev-22390	33	127	look	look	VERB
inlawrev-22390	33	128	elsewhere.1	elsewhere.1	ADP
inlawrev-22390	33	129	1	1	NUM
inlawrev-22390	33	130	the	the	DET
inlawrev-22390	33	131	other	other	ADJ
inlawrev-22390	33	132	side	side	NOUN
inlawrev-22390	33	133	argues	argue	VERB
inlawrev-22390	33	134	that	that	SCONJ
inlawrev-22390	33	135	allowing	allow	VERB
inlawrev-22390	33	136	amateur	amateur	ADJ
inlawrev-22390	33	137	investors	investor	NOUN
inlawrev-22390	33	138	to	to	PART
inlawrev-22390	33	139	buy	buy	VERB
inlawrev-22390	33	140	into	into	ADP
inlawrev-22390	33	141	newly	newly	ADV
inlawrev-22390	33	142	formed	form	VERB
inlawrev-22390	33	143	companies	company	NOUN
inlawrev-22390	33	144	is	be	AUX
inlawrev-22390	33	145	too	too	ADV
inlawrev-22390	33	146	risky.12	risky.12	NOUN
inlawrev-22390	33	147	this	this	DET
inlawrev-22390	33	148	faction	faction	NOUN
inlawrev-22390	33	149	wants	want	VERB
inlawrev-22390	33	150	additional	additional	ADJ
inlawrev-22390	33	151	investor	investor	NOUN
inlawrev-22390	33	152	protections	protection	NOUN
inlawrev-22390	33	153	to	to	PART
inlawrev-22390	33	154	prevent	prevent	VERB
inlawrev-22390	33	155	disaster.13	disaster.13	NOUN
inlawrev-22390	33	156	unfortunately	unfortunately	ADV
inlawrev-22390	33	157	,	,	PUNCT
inlawrev-22390	33	158	it	it	PRON
inlawrev-22390	33	159	is	be	AUX
inlawrev-22390	33	160	a	a	DET
inlawrev-22390	33	161	double	double	ADJ
inlawrev-22390	33	162	-	-	PUNCT
inlawrev-22390	33	163	sided	sided	ADJ
inlawrev-22390	33	164	coin	coin	NOUN
inlawrev-22390	33	165	;	;	PUNCT
inlawrev-22390	33	166	reducing	reduce	VERB
inlawrev-22390	33	167	the	the	DET
inlawrev-22390	33	168	amount	amount	NOUN
inlawrev-22390	33	169	of	of	ADP
inlawrev-22390	33	170	disclosures	disclosure	NOUN
inlawrev-22390	33	171	might	might	AUX
inlawrev-22390	33	172	save	save	VERB
inlawrev-22390	33	173	businesses	business	NOUN
inlawrev-22390	33	174	some	some	DET
inlawrev-22390	33	175	money	money	NOUN
inlawrev-22390	33	176	,	,	PUNCT
inlawrev-22390	33	177	but	but	CCONJ
inlawrev-22390	33	178	it	it	PRON
inlawrev-22390	33	179	would	would	AUX
inlawrev-22390	33	180	burden	burden	VERB
inlawrev-22390	33	181	investors	investor	NOUN
inlawrev-22390	33	182	with	with	ADP
inlawrev-22390	33	183	more	more	ADJ
inlawrev-22390	33	184	risk	risk	NOUN
inlawrev-22390	33	185	by	by	ADP
inlawrev-22390	33	186	taking	take	VERB
inlawrev-22390	33	187	away	away	ADV
inlawrev-22390	33	188	important	important	ADJ
inlawrev-22390	33	189	information	information	NOUN
inlawrev-22390	33	190	they	they	PRON
inlawrev-22390	33	191	need	need	VERB
inlawrev-22390	33	192	to	to	PART
inlawrev-22390	33	193	make	make	VERB
inlawrev-22390	33	194	informed	informed	ADJ
inlawrev-22390	33	195	decisions.14	decisions.14	NOUN
inlawrev-22390	33	196	is	be	AUX
inlawrev-22390	33	197	there	there	PRON
inlawrev-22390	33	198	a	a	DET
inlawrev-22390	33	199	better	well	ADJ
inlawrev-22390	33	200	way	way	NOUN
inlawrev-22390	33	201	to	to	PART
inlawrev-22390	33	202	approach	approach	VERB
inlawrev-22390	33	203	this	this	DET
inlawrev-22390	33	204	problem	problem	NOUN
inlawrev-22390	33	205	?	?	PUNCT
inlawrev-22390	34	1	many	many	ADJ
inlawrev-22390	34	2	in	in	ADP
inlawrev-22390	34	3	congress	congress	PROPN
inlawrev-22390	34	4	seemed	seem	VERB
inlawrev-22390	34	5	to	to	PART
inlawrev-22390	34	6	have	have	AUX
inlawrev-22390	34	7	startup	startup	VERB
inlawrev-22390	34	8	businesses	business	NOUN
inlawrev-22390	34	9	specifically	specifically	ADV
inlawrev-22390	34	10	in	in	ADP
inlawrev-22390	34	11	mind	mind	NOUN
inlawrev-22390	34	12	when	when	SCONJ
inlawrev-22390	34	13	enacting	enact	VERB
inlawrev-22390	34	14	this	this	DET
inlawrev-22390	34	15	bill.15	bill.15	NOUN
inlawrev-22390	34	16	indeed	indeed	ADV
inlawrev-22390	34	17	,	,	PUNCT
inlawrev-22390	34	18	the	the	DET
inlawrev-22390	34	19	acronym	acronym	NOUN
inlawrev-22390	34	20	of	of	ADP
inlawrev-22390	34	21	the	the	DET
inlawrev-22390	34	22	jobs	job	NOUN
inlawrev-22390	34	23	act	act	VERB
inlawrev-22390	34	24	itself	itself	PRON
inlawrev-22390	34	25	contains	contain	VERB
inlawrev-22390	34	26	the	the	DET
inlawrev-22390	34	27	word	word	NOUN
inlawrev-22390	34	28	“	"	PUNCT
inlawrev-22390	34	29	startups	startup	NOUN
inlawrev-22390	34	30	.	.	PUNCT
inlawrev-22390	35	1	”16	”16	NOUN
inlawrev-22390	35	2	unsurprisingly	unsurprisingly	ADV
inlawrev-22390	35	3	,	,	PUNCT
inlawrev-22390	35	4	much	much	ADJ
inlawrev-22390	35	5	of	of	ADP
inlawrev-22390	35	6	the	the	DET
inlawrev-22390	35	7	existing	exist	VERB
inlawrev-22390	35	8	critical	critical	ADJ
inlawrev-22390	35	9	commentary	commentary	NOUN
inlawrev-22390	35	10	has	have	AUX
inlawrev-22390	35	11	focused	focus	VERB
inlawrev-22390	35	12	on	on	ADP
inlawrev-22390	35	13	regulation	regulation	NOUN
inlawrev-22390	35	14	crowdfunding	crowdfunde	VERB
inlawrev-22390	35	15	as	as	ADP
inlawrev-22390	35	16	a	a	DET
inlawrev-22390	35	17	fundraising	fundraising	NOUN
inlawrev-22390	35	18	mechanism	mechanism	NOUN
inlawrev-22390	35	19	for	for	ADP
inlawrev-22390	35	20	startup	startup	NOUN
inlawrev-22390	35	21	businesses.17	businesses.17	NOUN
inlawrev-22390	35	22	conversely	conversely	ADV
inlawrev-22390	35	23	,	,	PUNCT
inlawrev-22390	35	24	6	6	NUM
inlawrev-22390	35	25	.	.	PUNCT
inlawrev-22390	35	26	max	max	PROPN
inlawrev-22390	35	27	e.	e.	PROPN
inlawrev-22390	35	28	isaacson	isaacson	PROPN
inlawrev-22390	35	29	,	,	PUNCT
inlawrev-22390	35	30	the	the	DET
inlawrev-22390	35	31	so	so	ADV
inlawrev-22390	35	32	-	-	PUNCT
inlawrev-22390	35	33	called	call	VERB
inlawrev-22390	35	34	democratization	democratization	NOUN
inlawrev-22390	35	35	of	of	ADP
inlawrev-22390	35	36	capital	capital	NOUN
inlawrev-22390	35	37	markets	market	NOUN
inlawrev-22390	35	38	:	:	PUNCT
inlawrev-22390	35	39	why	why	SCONJ
inlawrev-22390	35	40	title	title	NOUN
inlawrev-22390	35	41	iii	iii	NUM
inlawrev-22390	35	42	of	of	ADP
inlawrev-22390	35	43	the	the	DET
inlawrev-22390	35	44	jobs	job	NOUN
inlawrev-22390	35	45	act	act	VERB
inlawrev-22390	35	46	fails	fail	VERB
inlawrev-22390	35	47	to	to	PART
inlawrev-22390	35	48	fulfill	fulfill	VERB
inlawrev-22390	35	49	the	the	DET
inlawrev-22390	35	50	promise	promise	NOUN
inlawrev-22390	35	51	of	of	ADP
inlawrev-22390	35	52	crowdfunding	crowdfunding	NOUN
inlawrev-22390	35	53	,	,	PUNCT
inlawrev-22390	35	54	20	20	NUM
inlawrev-22390	35	55	n.c	n.c	PROPN
inlawrev-22390	35	56	.	.	PROPN
inlawrev-22390	35	57	banking	banking	NOUN
inlawrev-22390	35	58	inst	inst	PROPN
inlawrev-22390	35	59	.	.	PROPN
inlawrev-22390	36	1	439	439	NUM
inlawrev-22390	36	2	,	,	PUNCT
inlawrev-22390	36	3	453	453	NUM
inlawrev-22390	36	4	(	(	PUNCT
inlawrev-22390	36	5	mar	mar	PROPN
inlawrev-22390	36	6	.	.	PROPN
inlawrev-22390	36	7	2016	2016	NUM
inlawrev-22390	36	8	)	)	PUNCT
inlawrev-22390	36	9	.	.	PUNCT
inlawrev-22390	37	1	7	7	X
inlawrev-22390	37	2	.	.	X
inlawrev-22390	37	3	see	see	VERB
inlawrev-22390	37	4	generally	generally	ADV
inlawrev-22390	37	5	jobs	job	NOUN
inlawrev-22390	37	6	act	act	VERB
inlawrev-22390	37	7	§	§	PROPN
inlawrev-22390	37	8	§	§	PROPN
inlawrev-22390	37	9	301	301	NUM
inlawrev-22390	37	10	-	-	SYM
inlawrev-22390	37	11	05	05	NUM
inlawrev-22390	37	12	.	.	NOUN
inlawrev-22390	37	13	8	8	NUM
inlawrev-22390	37	14	.	.	PUNCT
inlawrev-22390	37	15	press	press	NOUN
inlawrev-22390	37	16	release	release	NOUN
inlawrev-22390	37	17	,	,	PUNCT
inlawrev-22390	37	18	sec	sec	PROPN
inlawrev-22390	37	19	,	,	PUNCT
inlawrev-22390	37	20	supra	supra	ADJ
inlawrev-22390	37	21	note	note	NOUN
inlawrev-22390	37	22	3	3	NUM
inlawrev-22390	37	23	.	.	NOUN
inlawrev-22390	37	24	9	9	NUM
inlawrev-22390	37	25	.	.	X
inlawrev-22390	37	26	see	see	VERB
inlawrev-22390	37	27	infra	infra	NOUN
inlawrev-22390	37	28	part	part	PROPN
inlawrev-22390	37	29	iii	iii	NOUN
inlawrev-22390	37	30	.	.	PROPN
inlawrev-22390	37	31	10	10	NUM
inlawrev-22390	37	32	.	.	PUNCT
inlawrev-22390	38	1	see	see	VERB
inlawrev-22390	38	2	,	,	PUNCT
inlawrev-22390	38	3	e.g.	e.g.	ADV
inlawrev-22390	38	4	,	,	PUNCT
inlawrev-22390	38	5	joseph	joseph	PROPN
inlawrev-22390	38	6	hogan	hogan	PROPN
inlawrev-22390	38	7	,	,	PUNCT
inlawrev-22390	38	8	note	note	VERB
inlawrev-22390	38	9	,	,	PUNCT
inlawrev-22390	38	10	like	like	ADP
inlawrev-22390	38	11	oil	oil	NOUN
inlawrev-22390	38	12	and	and	CCONJ
inlawrev-22390	38	13	water	water	NOUN
inlawrev-22390	38	14	:	:	PUNCT
inlawrev-22390	38	15	equity	equity	NOUN
inlawrev-22390	38	16	crowdfunding	crowdfunding	NOUN
inlawrev-22390	38	17	and	and	CCONJ
inlawrev-22390	38	18	securities	security	NOUN
inlawrev-22390	38	19	regulation	regulation	NOUN
inlawrev-22390	38	20	,	,	PUNCT
inlawrev-22390	38	21	18	18	NUM
inlawrev-22390	38	22	lewis	lewis	PROPN
inlawrev-22390	38	23	&	&	CCONJ
inlawrev-22390	38	24	clark	clark	PROPN
inlawrev-22390	38	25	l.	l.	PROPN
inlawrev-22390	38	26	rev	rev	PROPN
inlawrev-22390	38	27	.	.	PROPN
inlawrev-22390	38	28	1091	1091	NUM
inlawrev-22390	38	29	(	(	PUNCT
inlawrev-22390	38	30	2014	2014	NUM
inlawrev-22390	38	31	)	)	PUNCT
inlawrev-22390	38	32	;	;	PUNCT
inlawrev-22390	38	33	rogers	roger	NOUN
inlawrev-22390	38	34	,	,	PUNCT
inlawrev-22390	38	35	supra	supra	PROPN
inlawrev-22390	38	36	note	note	NOUN
inlawrev-22390	38	37	3	3	NUM
inlawrev-22390	38	38	.	.	NOUN
inlawrev-22390	38	39	11	11	NUM
inlawrev-22390	38	40	.	.	PUNCT
inlawrev-22390	39	1	hogan	hogan	PROPN
inlawrev-22390	39	2	,	,	PUNCT
inlawrev-22390	39	3	supra	supra	PROPN
inlawrev-22390	39	4	note	note	NOUN
inlawrev-22390	39	5	10	10	NUM
inlawrev-22390	39	6	.	.	PUNCT
inlawrev-22390	39	7	12	12	NUM
inlawrev-22390	39	8	.	.	PUNCT
inlawrev-22390	40	1	see	see	VERB
inlawrev-22390	40	2	,	,	PUNCT
inlawrev-22390	40	3	e.g.	e.g.	ADV
inlawrev-22390	40	4	,	,	PUNCT
inlawrev-22390	40	5	sharon	sharon	PROPN
inlawrev-22390	40	6	yamen	yamen	PROPN
inlawrev-22390	40	7	&	&	CCONJ
inlawrev-22390	40	8	yoel	yoel	PROPN
inlawrev-22390	40	9	goldfeder	goldfeder	NOUN
inlawrev-22390	40	10	,	,	PUNCT
inlawrev-22390	40	11	equity	equity	NOUN
inlawrev-22390	40	12	crowdfunding	crowdfunding	NOUN
inlawrev-22390	40	13	—	—	PUNCT
inlawrev-22390	40	14	a	a	DET
inlawrev-22390	40	15	wolf	wolf	NOUN
inlawrev-22390	40	16	in	in	ADP
inlawrev-22390	40	17	sheep	sheep	NOUN
inlawrev-22390	40	18	’s	’s	PART
inlawrev-22390	40	19	clothing	clothing	NOUN
inlawrev-22390	40	20	:	:	PUNCT
inlawrev-22390	40	21	the	the	DET
inlawrev-22390	40	22	implications	implication	NOUN
inlawrev-22390	40	23	of	of	ADP
inlawrev-22390	40	24	crowdfunding	crowdfunde	VERB
inlawrev-22390	40	25	legislation	legislation	NOUN
inlawrev-22390	40	26	under	under	ADP
inlawrev-22390	40	27	the	the	DET
inlawrev-22390	40	28	jobs	job	NOUN
inlawrev-22390	40	29	act	act	NOUN
inlawrev-22390	40	30	,	,	PUNCT
inlawrev-22390	40	31	11	11	NUM
inlawrev-22390	40	32	byu	byu	PROPN
inlawrev-22390	40	33	int’l	int’l	NUM
inlawrev-22390	40	34	l.	l.	PROPN
inlawrev-22390	40	35	&	&	CCONJ
inlawrev-22390	40	36	mgmt	mgmt	PROPN
inlawrev-22390	40	37	.	.	PUNCT
inlawrev-22390	41	1	rev	rev	PROPN
inlawrev-22390	41	2	.	.	PROPN
inlawrev-22390	41	3	41	41	NUM
inlawrev-22390	41	4	(	(	PUNCT
inlawrev-22390	41	5	2015	2015	NUM
inlawrev-22390	41	6	)	)	PUNCT
inlawrev-22390	41	7	;	;	PUNCT
inlawrev-22390	41	8	wroldsen	wroldsen	NOUN
inlawrev-22390	41	9	,	,	PUNCT
inlawrev-22390	41	10	supra	supra	PROPN
inlawrev-22390	41	11	note	note	NOUN
inlawrev-22390	41	12	1	1	NUM
inlawrev-22390	41	13	.	.	NOUN
inlawrev-22390	41	14	13	13	NUM
inlawrev-22390	41	15	.	.	X
inlawrev-22390	42	1	wroldsen	wroldsen	PROPN
inlawrev-22390	42	2	,	,	PUNCT
inlawrev-22390	42	3	supra	supra	PROPN
inlawrev-22390	42	4	note	note	NOUN
inlawrev-22390	42	5	1	1	NUM
inlawrev-22390	42	6	,	,	PUNCT
inlawrev-22390	42	7	at	at	ADP
inlawrev-22390	42	8	632	632	NUM
inlawrev-22390	42	9	-	-	SYM
inlawrev-22390	42	10	35	35	NUM
inlawrev-22390	42	11	.	.	PUNCT
inlawrev-22390	43	1	14	14	NUM
inlawrev-22390	43	2	.	.	PUNCT
inlawrev-22390	44	1	federal	federal	ADJ
inlawrev-22390	44	2	securities	security	NOUN
inlawrev-22390	44	3	law	law	NOUN
inlawrev-22390	44	4	uses	use	VERB
inlawrev-22390	44	5	disclosures	disclosure	NOUN
inlawrev-22390	44	6	as	as	ADP
inlawrev-22390	44	7	a	a	DET
inlawrev-22390	44	8	proxy	proxy	NOUN
inlawrev-22390	44	9	for	for	ADP
inlawrev-22390	44	10	direct	direct	ADJ
inlawrev-22390	44	11	investor	investor	NOUN
inlawrev-22390	44	12	protection	protection	NOUN
inlawrev-22390	44	13	;	;	PUNCT
inlawrev-22390	44	14	by	by	ADP
inlawrev-22390	44	15	requiring	require	VERB
inlawrev-22390	44	16	businesses	business	NOUN
inlawrev-22390	44	17	to	to	PART
inlawrev-22390	44	18	disclose	disclose	VERB
inlawrev-22390	44	19	information	information	NOUN
inlawrev-22390	44	20	,	,	PUNCT
inlawrev-22390	44	21	the	the	DET
inlawrev-22390	44	22	risks	risk	NOUN
inlawrev-22390	44	23	posed	pose	VERB
inlawrev-22390	44	24	by	by	ADP
inlawrev-22390	44	25	the	the	DET
inlawrev-22390	44	26	investment	investment	NOUN
inlawrev-22390	44	27	are	be	AUX
inlawrev-22390	44	28	on	on	ADP
inlawrev-22390	44	29	display	display	NOUN
inlawrev-22390	44	30	for	for	ADP
inlawrev-22390	44	31	a	a	DET
inlawrev-22390	44	32	potential	potential	ADJ
inlawrev-22390	44	33	investor	investor	NOUN
inlawrev-22390	44	34	to	to	PART
inlawrev-22390	44	35	consider	consider	VERB
inlawrev-22390	44	36	.	.	PUNCT
inlawrev-22390	45	1	see	see	VERB
inlawrev-22390	45	2	wroldsen	wroldsen	PROPN
inlawrev-22390	45	3	,	,	PUNCT
inlawrev-22390	45	4	supra	supra	PROPN
inlawrev-22390	45	5	note	note	NOUN
inlawrev-22390	45	6	1	1	NUM
inlawrev-22390	45	7	,	,	PUNCT
inlawrev-22390	45	8	at	at	ADP
inlawrev-22390	45	9	606	606	NUM
inlawrev-22390	45	10	-	-	SYM
inlawrev-22390	45	11	07	07	NUM
inlawrev-22390	45	12	;	;	PUNCT
inlawrev-22390	45	13	hogan	hogan	PROPN
inlawrev-22390	45	14	,	,	PUNCT
inlawrev-22390	45	15	supra	supra	PROPN
inlawrev-22390	45	16	note	note	PROPN
inlawrev-22390	45	17	10	10	NUM
inlawrev-22390	45	18	,	,	PUNCT
inlawrev-22390	45	19	at	at	ADP
inlawrev-22390	45	20	1095	1095	NUM
inlawrev-22390	45	21	-	-	SYM
inlawrev-22390	45	22	96	96	NUM
inlawrev-22390	45	23	.	.	NOUN
inlawrev-22390	45	24	15	15	NUM
inlawrev-22390	45	25	.	.	X
inlawrev-22390	46	1	see	see	VERB
inlawrev-22390	46	2	,	,	PUNCT
inlawrev-22390	46	3	e.g.	e.g.	ADV
inlawrev-22390	46	4	,	,	PUNCT
inlawrev-22390	46	5	158	158	NUM
inlawrev-22390	46	6	cong	cong	NOUN
inlawrev-22390	46	7	.	.	PUNCT
inlawrev-22390	47	1	rec	rec	PROPN
inlawrev-22390	47	2	.	.	PUNCT
inlawrev-22390	47	3	s1782	s1782	PROPN
inlawrev-22390	47	4	-	-	PUNCT
inlawrev-22390	47	5	83	83	NUM
inlawrev-22390	47	6	(	(	PUNCT
inlawrev-22390	47	7	daily	daily	ADJ
inlawrev-22390	47	8	ed	ed	NOUN
inlawrev-22390	47	9	.	.	PUNCT
inlawrev-22390	48	1	mar	mar	PROPN
inlawrev-22390	48	2	.	.	PROPN
inlawrev-22390	48	3	19	19	NUM
inlawrev-22390	48	4	,	,	PUNCT
inlawrev-22390	48	5	2012	2012	NUM
inlawrev-22390	48	6	)	)	PUNCT
inlawrev-22390	48	7	(	(	PUNCT
inlawrev-22390	48	8	statement	statement	NOUN
inlawrev-22390	48	9	of	of	ADP
inlawrev-22390	48	10	sen	sen	PROPN
inlawrev-22390	48	11	.	.	PROPN
inlawrev-22390	48	12	snowe	snowe	PROPN
inlawrev-22390	48	13	)	)	PUNCT
inlawrev-22390	48	14	(	(	PUNCT
inlawrev-22390	48	15	using	use	VERB
inlawrev-22390	48	16	the	the	DET
inlawrev-22390	48	17	words	word	NOUN
inlawrev-22390	48	18	“	"	PUNCT
inlawrev-22390	48	19	startup	startup	NOUN
inlawrev-22390	48	20	,	,	PUNCT
inlawrev-22390	48	21	”	"	PUNCT
inlawrev-22390	48	22	“	"	PUNCT
inlawrev-22390	48	23	entrepreneurs	entrepreneur	NOUN
inlawrev-22390	48	24	,	,	PUNCT
inlawrev-22390	48	25	”	"	PUNCT
inlawrev-22390	48	26	and	and	CCONJ
inlawrev-22390	48	27	“	"	PUNCT
inlawrev-22390	48	28	high	high	ADJ
inlawrev-22390	48	29	-	-	PUNCT
inlawrev-22390	48	30	growth	growth	NOUN
inlawrev-22390	48	31	companies	company	NOUN
inlawrev-22390	48	32	”	"	PUNCT
inlawrev-22390	48	33	)	)	PUNCT
inlawrev-22390	48	34	;	;	PUNCT
inlawrev-22390	48	35	158	158	NUM
inlawrev-22390	48	36	cong	cong	NOUN
inlawrev-22390	48	37	.	.	PUNCT
inlawrev-22390	49	1	rec	rec	PROPN
inlawrev-22390	49	2	.	.	PUNCT
inlawrev-22390	50	1	s1830	s1830	NOUN
inlawrev-22390	50	2	(	(	PUNCT
inlawrev-22390	50	3	daily	daily	PROPN
inlawrev-22390	50	4	ed	ed	NOUN
inlawrev-22390	50	5	.	.	PUNCT
inlawrev-22390	51	1	mar	mar	PROPN
inlawrev-22390	51	2	.	.	PROPN
inlawrev-22390	51	3	20	20	NUM
inlawrev-22390	51	4	,	,	PUNCT
inlawrev-22390	51	5	2012	2012	NUM
inlawrev-22390	51	6	)	)	PUNCT
inlawrev-22390	51	7	(	(	PUNCT
inlawrev-22390	51	8	statement	statement	NOUN
inlawrev-22390	51	9	of	of	ADP
inlawrev-22390	51	10	sen	sen	PROPN
inlawrev-22390	51	11	.	.	PROPN
inlawrev-22390	51	12	coons	coons	PROPN
inlawrev-22390	51	13	)	)	PUNCT
inlawrev-22390	51	14	(	(	PUNCT
inlawrev-22390	51	15	“	"	PUNCT
inlawrev-22390	51	16	i	i	PRON
inlawrev-22390	51	17	am	be	AUX
inlawrev-22390	51	18	glad	glad	ADJ
inlawrev-22390	51	19	this	this	DET
inlawrev-22390	51	20	chamber	chamber	NOUN
inlawrev-22390	51	21	is	be	AUX
inlawrev-22390	51	22	focused	focus	VERB
inlawrev-22390	51	23	on	on	ADP
inlawrev-22390	51	24	job	job	NOUN
inlawrev-22390	51	25	creation	creation	NOUN
inlawrev-22390	51	26	,	,	PUNCT
inlawrev-22390	51	27	on	on	ADP
inlawrev-22390	51	28	access	access	NOUN
inlawrev-22390	51	29	to	to	ADP
inlawrev-22390	51	30	capital	capital	NOUN
inlawrev-22390	51	31	,	,	PUNCT
inlawrev-22390	51	32	on	on	ADP
inlawrev-22390	51	33	ways	way	NOUN
inlawrev-22390	51	34	we	we	PRON
inlawrev-22390	51	35	can	can	AUX
inlawrev-22390	51	36	help	help	VERB
inlawrev-22390	51	37	strengthen	strengthen	VERB
inlawrev-22390	51	38	the	the	DET
inlawrev-22390	51	39	speed	speed	NOUN
inlawrev-22390	51	40	and	and	CCONJ
inlawrev-22390	51	41	growth	growth	NOUN
inlawrev-22390	51	42	of	of	ADP
inlawrev-22390	51	43	high	high	ADJ
inlawrev-22390	51	44	promise	promise	NOUN
inlawrev-22390	51	45	,	,	PUNCT
inlawrev-22390	51	46	startup	startup	NOUN
inlawrev-22390	51	47	companies	company	NOUN
inlawrev-22390	51	48	.	.	PUNCT
inlawrev-22390	51	49	”	"	PUNCT
inlawrev-22390	51	50	)	)	PUNCT
inlawrev-22390	51	51	.	.	PUNCT
inlawrev-22390	52	1	16	16	NUM
inlawrev-22390	52	2	.	.	PUNCT
inlawrev-22390	53	1	jobs	job	NOUN
inlawrev-22390	53	2	act	act	PROPN
inlawrev-22390	53	3	,	,	PUNCT
inlawrev-22390	53	4	pub	pub	NOUN
inlawrev-22390	53	5	.	.	PUNCT
inlawrev-22390	54	1	l.	l.	PROPN
inlawrev-22390	54	2	no	no	INTJ
inlawrev-22390	54	3	.	.	PROPN
inlawrev-22390	55	1	112	112	NUM
inlawrev-22390	55	2	-	-	SYM
inlawrev-22390	55	3	106	106	NUM
inlawrev-22390	55	4	§	§	PROPN
inlawrev-22390	55	5	1	1	NUM
inlawrev-22390	55	6	,	,	PUNCT
inlawrev-22390	55	7	126	126	NUM
inlawrev-22390	55	8	stat	stat	NOUN
inlawrev-22390	55	9	.	.	PUNCT
inlawrev-22390	56	1	306	306	NUM
inlawrev-22390	56	2	,	,	PUNCT
inlawrev-22390	56	3	306	306	NUM
inlawrev-22390	56	4	(	(	PUNCT
inlawrev-22390	56	5	2012	2012	NUM
inlawrev-22390	56	6	)	)	PUNCT
inlawrev-22390	56	7	.	.	PUNCT
inlawrev-22390	57	1	17	17	NUM
inlawrev-22390	57	2	.	.	X
inlawrev-22390	58	1	see	see	VERB
inlawrev-22390	58	2	,	,	PUNCT
inlawrev-22390	58	3	e.g.	e.g.	ADV
inlawrev-22390	58	4	,	,	PUNCT
inlawrev-22390	58	5	wroldsen	wroldsen	ADJ
inlawrev-22390	58	6	,	,	PUNCT
inlawrev-22390	58	7	supra	supra	NOUN
inlawrev-22390	58	8	note	note	NOUN
inlawrev-22390	58	9	1	1	NUM
inlawrev-22390	58	10	.	.	NOUN
inlawrev-22390	58	11	2018	2018	NUM
inlawrev-22390	58	12	]	]	PUNCT
inlawrev-22390	58	13	false	false	ADJ
inlawrev-22390	58	14	start	start	NOUN
inlawrev-22390	58	15	:	:	PUNCT
inlawrev-22390	58	16	carving	carve	VERB
inlawrev-22390	58	17	a	a	DET
inlawrev-22390	58	18	niche	niche	NOUN
inlawrev-22390	58	19	279	279	NUM
inlawrev-22390	58	20	relatively	relatively	ADV
inlawrev-22390	58	21	little	little	ADJ
inlawrev-22390	58	22	attention	attention	NOUN
inlawrev-22390	58	23	has	have	AUX
inlawrev-22390	58	24	been	be	AUX
inlawrev-22390	58	25	paid	pay	VERB
inlawrev-22390	58	26	to	to	ADP
inlawrev-22390	58	27	the	the	DET
inlawrev-22390	58	28	effect	effect	NOUN
inlawrev-22390	58	29	of	of	ADP
inlawrev-22390	58	30	regulation	regulation	NOUN
inlawrev-22390	58	31	crowdfunding	crowdfunde	VERB
inlawrev-22390	58	32	on	on	ADP
inlawrev-22390	59	1	more	more	ADV
inlawrev-22390	59	2	established	establish	VERB
inlawrev-22390	59	3	businesses.18	businesses.18	VERB
inlawrev-22390	59	4	such	such	ADJ
inlawrev-22390	59	5	enterprises	enterprise	NOUN
inlawrev-22390	59	6	are	be	AUX
inlawrev-22390	59	7	free	free	ADJ
inlawrev-22390	59	8	to	to	PART
inlawrev-22390	59	9	participate	participate	VERB
inlawrev-22390	59	10	under	under	ADP
inlawrev-22390	59	11	the	the	DET
inlawrev-22390	59	12	existing	exist	VERB
inlawrev-22390	59	13	rules,19	rules,19	NOUN
inlawrev-22390	59	14	but	but	CCONJ
inlawrev-22390	59	15	these	these	DET
inlawrev-22390	59	16	established	establish	VERB
inlawrev-22390	59	17	businesses	business	NOUN
inlawrev-22390	59	18	are	be	AUX
inlawrev-22390	59	19	inherently	inherently	ADV
inlawrev-22390	59	20	different	different	ADJ
inlawrev-22390	59	21	from	from	ADP
inlawrev-22390	59	22	startups	startup	NOUN
inlawrev-22390	59	23	and	and	CCONJ
inlawrev-22390	59	24	do	do	AUX
inlawrev-22390	59	25	not	not	PART
inlawrev-22390	59	26	warrant	warrant	VERB
inlawrev-22390	59	27	the	the	DET
inlawrev-22390	59	28	same	same	ADJ
inlawrev-22390	59	29	regulatory	regulatory	ADJ
inlawrev-22390	59	30	burdens.20	burdens.20	PROPN
inlawrev-22390	59	31	startups	startup	NOUN
inlawrev-22390	59	32	have	have	VERB
inlawrev-22390	59	33	poor	poor	ADJ
inlawrev-22390	59	34	survival	survival	NOUN
inlawrev-22390	59	35	rates	rate	NOUN
inlawrev-22390	59	36	and	and	CCONJ
inlawrev-22390	59	37	otherwise	otherwise	ADV
inlawrev-22390	59	38	pose	pose	VERB
inlawrev-22390	59	39	additional	additional	ADJ
inlawrev-22390	59	40	risks	risk	NOUN
inlawrev-22390	59	41	to	to	ADP
inlawrev-22390	59	42	investors	investor	NOUN
inlawrev-22390	59	43	like	like	ADP
inlawrev-22390	59	44	equity	equity	NOUN
inlawrev-22390	59	45	dilution.21	dilution.21	NOUN
inlawrev-22390	59	46	on	on	ADP
inlawrev-22390	59	47	the	the	DET
inlawrev-22390	59	48	other	other	ADJ
inlawrev-22390	59	49	hand	hand	NOUN
inlawrev-22390	60	1	,	,	PUNCT
inlawrev-22390	60	2	businesses	business	NOUN
inlawrev-22390	60	3	that	that	PRON
inlawrev-22390	60	4	have	have	AUX
inlawrev-22390	60	5	been	be	AUX
inlawrev-22390	60	6	in	in	ADP
inlawrev-22390	60	7	operation	operation	NOUN
inlawrev-22390	60	8	for	for	ADP
inlawrev-22390	60	9	three	three	NUM
inlawrev-22390	60	10	years	year	NOUN
inlawrev-22390	60	11	or	or	CCONJ
inlawrev-22390	60	12	longer	long	ADV
inlawrev-22390	60	13	pose	pose	VERB
inlawrev-22390	60	14	significantly	significantly	ADV
inlawrev-22390	60	15	less	less	ADV
inlawrev-22390	60	16	risk.22	risk.22	VERB
inlawrev-22390	60	17	like	like	ADP
inlawrev-22390	60	18	startups	startup	NOUN
inlawrev-22390	60	19	,	,	PUNCT
inlawrev-22390	60	20	existing	exist	VERB
inlawrev-22390	60	21	small	small	ADJ
inlawrev-22390	60	22	business	business	NOUN
inlawrev-22390	60	23	owners	owner	NOUN
inlawrev-22390	60	24	are	be	AUX
inlawrev-22390	60	25	looking	look	VERB
inlawrev-22390	60	26	for	for	ADP
inlawrev-22390	60	27	small	small	ADJ
inlawrev-22390	60	28	amounts	amount	NOUN
inlawrev-22390	60	29	of	of	ADP
inlawrev-22390	60	30	capital	capital	NOUN
inlawrev-22390	60	31	,	,	PUNCT
inlawrev-22390	60	32	which	which	PRON
inlawrev-22390	60	33	can	can	AUX
inlawrev-22390	60	34	be	be	AUX
inlawrev-22390	60	35	used	use	VERB
inlawrev-22390	60	36	to	to	PART
inlawrev-22390	60	37	expand	expand	VERB
inlawrev-22390	60	38	or	or	CCONJ
inlawrev-22390	60	39	improve	improve	VERB
inlawrev-22390	60	40	their	their	PRON
inlawrev-22390	60	41	enterprise.23	enterprise.23	PROPN
inlawrev-22390	60	42	the	the	DET
inlawrev-22390	60	43	traditional	traditional	ADJ
inlawrev-22390	60	44	market	market	NOUN
inlawrev-22390	60	45	for	for	ADP
inlawrev-22390	60	46	small	small	ADJ
inlawrev-22390	60	47	business	business	NOUN
inlawrev-22390	60	48	lending	lending	NOUN
inlawrev-22390	60	49	stagnated	stagnate	VERB
inlawrev-22390	60	50	after	after	ADP
inlawrev-22390	60	51	the	the	DET
inlawrev-22390	60	52	great	great	ADJ
inlawrev-22390	60	53	recession	recession	NOUN
inlawrev-22390	60	54	as	as	SCONJ
inlawrev-22390	60	55	big	big	ADJ
inlawrev-22390	60	56	banks	bank	NOUN
inlawrev-22390	60	57	looked	look	VERB
inlawrev-22390	60	58	for	for	ADP
inlawrev-22390	60	59	more	more	ADV
inlawrev-22390	60	60	profitable	profitable	ADJ
inlawrev-22390	60	61	loans.24	loans.24	NOUN
inlawrev-22390	60	62	although	although	SCONJ
inlawrev-22390	60	63	alternative	alternative	ADJ
inlawrev-22390	60	64	sources	source	NOUN
inlawrev-22390	60	65	of	of	ADP
inlawrev-22390	60	66	funding	funding	NOUN
inlawrev-22390	60	67	exist	exist	VERB
inlawrev-22390	60	68	,	,	PUNCT
inlawrev-22390	60	69	some	some	PRON
inlawrev-22390	60	70	of	of	ADP
inlawrev-22390	60	71	them	they	PRON
inlawrev-22390	60	72	seem	seem	VERB
inlawrev-22390	60	73	to	to	PART
inlawrev-22390	60	74	“	"	PUNCT
inlawrev-22390	60	75	caus[e	caus[e	VERB
inlawrev-22390	60	76	]	]	X
inlawrev-22390	60	77	more	more	ADJ
inlawrev-22390	60	78	harm	harm	NOUN
inlawrev-22390	60	79	than	than	ADP
inlawrev-22390	60	80	good	good	ADJ
inlawrev-22390	60	81	.	.	PUNCT
inlawrev-22390	61	1	”25	”25	ADJ
inlawrev-22390	61	2	regulation	regulation	NOUN
inlawrev-22390	61	3	crowdfunding	crowdfunding	NOUN
inlawrev-22390	61	4	can	can	AUX
inlawrev-22390	61	5	create	create	VERB
inlawrev-22390	61	6	an	an	DET
inlawrev-22390	61	7	avenue	avenue	NOUN
inlawrev-22390	61	8	for	for	ADP
inlawrev-22390	61	9	small	small	ADJ
inlawrev-22390	61	10	businesses	business	NOUN
inlawrev-22390	61	11	to	to	PART
inlawrev-22390	61	12	raise	raise	VERB
inlawrev-22390	61	13	flexible	flexible	ADJ
inlawrev-22390	61	14	funding	funding	NOUN
inlawrev-22390	61	15	while	while	SCONJ
inlawrev-22390	61	16	continuing	continue	VERB
inlawrev-22390	61	17	to	to	PART
inlawrev-22390	61	18	build	build	VERB
inlawrev-22390	61	19	rapport	rapport	NOUN
inlawrev-22390	61	20	with	with	ADP
inlawrev-22390	61	21	an	an	DET
inlawrev-22390	61	22	engaged	engage	VERB
inlawrev-22390	61	23	client	client	NOUN
inlawrev-22390	61	24	base.26	base.26	NOUN
inlawrev-22390	61	25	there	there	PRON
inlawrev-22390	61	26	is	be	VERB
inlawrev-22390	61	27	also	also	ADV
inlawrev-22390	61	28	evidence	evidence	NOUN
inlawrev-22390	61	29	that	that	PRON
inlawrev-22390	61	30	suggests	suggest	VERB
inlawrev-22390	61	31	the	the	DET
inlawrev-22390	61	32	successful	successful	ADJ
inlawrev-22390	61	33	completion	completion	NOUN
inlawrev-22390	61	34	of	of	ADP
inlawrev-22390	61	35	a	a	DET
inlawrev-22390	61	36	crowdfunding	crowdfunding	NOUN
inlawrev-22390	61	37	campaign	campaign	NOUN
inlawrev-22390	61	38	can	can	AUX
inlawrev-22390	61	39	open	open	VERB
inlawrev-22390	61	40	the	the	DET
inlawrev-22390	61	41	door	door	NOUN
inlawrev-22390	61	42	to	to	ADP
inlawrev-22390	61	43	traditional	traditional	ADJ
inlawrev-22390	61	44	capital	capital	NOUN
inlawrev-22390	61	45	sources	source	NOUN
inlawrev-22390	61	46	down	down	ADP
inlawrev-22390	61	47	the	the	DET
inlawrev-22390	61	48	road	road	NOUN
inlawrev-22390	61	49	by	by	ADP
inlawrev-22390	61	50	serving	serve	VERB
inlawrev-22390	61	51	as	as	ADP
inlawrev-22390	61	52	a	a	DET
inlawrev-22390	61	53	“	"	PUNCT
inlawrev-22390	61	54	proof	proof	NOUN
inlawrev-22390	61	55	-	-	PUNCT
inlawrev-22390	61	56	ofconcept	ofconcept	ADJ
inlawrev-22390	61	57	.	.	PUNCT
inlawrev-22390	62	1	”27	”27	ADJ
inlawrev-22390	62	2	existing	exist	VERB
inlawrev-22390	62	3	businesses	business	NOUN
inlawrev-22390	62	4	are	be	AUX
inlawrev-22390	62	5	also	also	ADV
inlawrev-22390	62	6	an	an	DET
inlawrev-22390	62	7	enormous	enormous	ADJ
inlawrev-22390	62	8	part	part	NOUN
inlawrev-22390	62	9	of	of	ADP
inlawrev-22390	62	10	the	the	DET
inlawrev-22390	62	11	economy	economy	NOUN
inlawrev-22390	62	12	and	and	CCONJ
inlawrev-22390	62	13	have	have	VERB
inlawrev-22390	62	14	the	the	DET
inlawrev-22390	62	15	potential	potential	NOUN
inlawrev-22390	62	16	to	to	PART
inlawrev-22390	62	17	create	create	VERB
inlawrev-22390	62	18	millions	million	NOUN
inlawrev-22390	62	19	of	of	ADP
inlawrev-22390	62	20	jobs.28	jobs.28	NOUN
inlawrev-22390	62	21	18	18	NUM
inlawrev-22390	62	22	.	.	PUNCT
inlawrev-22390	63	1	many	many	ADJ
inlawrev-22390	63	2	articles	article	NOUN
inlawrev-22390	63	3	have	have	AUX
inlawrev-22390	63	4	referenced	reference	VERB
inlawrev-22390	63	5	small	small	ADJ
inlawrev-22390	63	6	businesses	business	NOUN
inlawrev-22390	63	7	generally	generally	ADV
inlawrev-22390	63	8	in	in	ADP
inlawrev-22390	63	9	addition	addition	NOUN
inlawrev-22390	63	10	to	to	ADP
inlawrev-22390	63	11	startups	startup	NOUN
inlawrev-22390	63	12	,	,	PUNCT
inlawrev-22390	63	13	but	but	CCONJ
inlawrev-22390	63	14	throughout	throughout	ADP
inlawrev-22390	63	15	the	the	DET
inlawrev-22390	63	16	research	research	NOUN
inlawrev-22390	63	17	process	process	NOUN
inlawrev-22390	63	18	,	,	PUNCT
inlawrev-22390	63	19	this	this	DET
inlawrev-22390	63	20	author	author	NOUN
inlawrev-22390	63	21	could	could	AUX
inlawrev-22390	63	22	not	not	PART
inlawrev-22390	63	23	find	find	VERB
inlawrev-22390	63	24	any	any	DET
inlawrev-22390	63	25	article	article	NOUN
inlawrev-22390	63	26	devoted	devote	VERB
inlawrev-22390	63	27	to	to	ADP
inlawrev-22390	63	28	existing	exist	VERB
inlawrev-22390	63	29	business	business	NOUN
inlawrev-22390	63	30	participation	participation	NOUN
inlawrev-22390	63	31	specifically	specifically	ADV
inlawrev-22390	63	32	.	.	PUNCT
inlawrev-22390	64	1	19	19	NUM
inlawrev-22390	64	2	.	.	X
inlawrev-22390	64	3	see	see	VERB
inlawrev-22390	64	4	generally	generally	ADV
inlawrev-22390	64	5	,	,	PUNCT
inlawrev-22390	64	6	jobs	job	NOUN
inlawrev-22390	64	7	act	act	VERB
inlawrev-22390	64	8	§	§	PROPN
inlawrev-22390	64	9	§	§	PROPN
inlawrev-22390	64	10	301	301	NUM
inlawrev-22390	64	11	-	-	SYM
inlawrev-22390	64	12	05	05	NUM
inlawrev-22390	64	13	.	.	PUNCT
inlawrev-22390	65	1	aside	aside	ADV
inlawrev-22390	65	2	from	from	ADP
inlawrev-22390	65	3	using	use	VERB
inlawrev-22390	65	4	the	the	DET
inlawrev-22390	65	5	word	word	NOUN
inlawrev-22390	65	6	“	"	PUNCT
inlawrev-22390	65	7	startups	startup	NOUN
inlawrev-22390	65	8	”	"	PUNCT
inlawrev-22390	65	9	in	in	ADP
inlawrev-22390	65	10	the	the	DET
inlawrev-22390	65	11	title	title	NOUN
inlawrev-22390	65	12	,	,	PUNCT
inlawrev-22390	65	13	the	the	DET
inlawrev-22390	65	14	law	law	NOUN
inlawrev-22390	65	15	itself	itself	PRON
inlawrev-22390	65	16	does	do	AUX
inlawrev-22390	65	17	not	not	PART
inlawrev-22390	65	18	specify	specify	VERB
inlawrev-22390	65	19	that	that	SCONJ
inlawrev-22390	65	20	a	a	DET
inlawrev-22390	65	21	business	business	NOUN
inlawrev-22390	65	22	must	must	AUX
inlawrev-22390	65	23	be	be	AUX
inlawrev-22390	65	24	a	a	DET
inlawrev-22390	65	25	startup	startup	NOUN
inlawrev-22390	65	26	.	.	PUNCT
inlawrev-22390	66	1	i	i	PRON
inlawrev-22390	66	2	d.	d.	PROPN
inlawrev-22390	66	3	§	§	PROPN
inlawrev-22390	66	4	1	1	NUM
inlawrev-22390	66	5	-	-	SYM
inlawrev-22390	66	6	701	701	NUM
inlawrev-22390	66	7	.	.	NOUN
inlawrev-22390	66	8	20	20	NUM
inlawrev-22390	66	9	.	.	PUNCT
inlawrev-22390	67	1	see	see	VERB
inlawrev-22390	67	2	infra	infra	NOUN
inlawrev-22390	67	3	part	part	NOUN
inlawrev-22390	67	4	iv	iv	NUM
inlawrev-22390	67	5	.	.	PROPN
inlawrev-22390	67	6	21	21	NUM
inlawrev-22390	67	7	.	.	PUNCT
inlawrev-22390	68	1	see	see	VERB
inlawrev-22390	68	2	infra	infra	NOUN
inlawrev-22390	68	3	part	part	NOUN
inlawrev-22390	68	4	iv	iv	NOUN
inlawrev-22390	68	5	.	.	PUNCT
inlawrev-22390	68	6	dilution	dilution	NOUN
inlawrev-22390	68	7	refers	refer	VERB
inlawrev-22390	68	8	to	to	ADP
inlawrev-22390	68	9	the	the	DET
inlawrev-22390	68	10	watering	watering	NOUN
inlawrev-22390	68	11	down	down	ADP
inlawrev-22390	68	12	of	of	ADP
inlawrev-22390	68	13	the	the	DET
inlawrev-22390	68	14	value	value	NOUN
inlawrev-22390	68	15	of	of	ADP
inlawrev-22390	68	16	equity	equity	NOUN
inlawrev-22390	68	17	caused	cause	VERB
inlawrev-22390	68	18	by	by	ADP
inlawrev-22390	68	19	the	the	DET
inlawrev-22390	68	20	release	release	NOUN
inlawrev-22390	68	21	of	of	ADP
inlawrev-22390	68	22	additional	additional	ADJ
inlawrev-22390	68	23	shares	share	NOUN
inlawrev-22390	68	24	in	in	ADP
inlawrev-22390	68	25	subsequent	subsequent	ADJ
inlawrev-22390	68	26	rounds	round	NOUN
inlawrev-22390	68	27	of	of	ADP
inlawrev-22390	68	28	funding	funding	NOUN
inlawrev-22390	68	29	.	.	PUNCT
inlawrev-22390	69	1	see	see	VERB
inlawrev-22390	69	2	infra	infra	NOUN
inlawrev-22390	69	3	note	note	VERB
inlawrev-22390	69	4	162	162	NUM
inlawrev-22390	69	5	and	and	CCONJ
inlawrev-22390	69	6	accompanying	accompany	VERB
inlawrev-22390	69	7	text	text	NOUN
inlawrev-22390	69	8	.	.	PUNCT
inlawrev-22390	70	1	22	22	NUM
inlawrev-22390	70	2	.	.	PUNCT
inlawrev-22390	71	1	see	see	VERB
inlawrev-22390	71	2	infra	infra	NOUN
inlawrev-22390	71	3	part	part	NOUN
inlawrev-22390	71	4	iv	iv	NOUN
inlawrev-22390	71	5	.	.	PROPN
inlawrev-22390	71	6	23	23	NUM
inlawrev-22390	71	7	.	.	PUNCT
inlawrev-22390	72	1	youngro	youngro	PROPN
inlawrev-22390	72	2	lee	lee	PROPN
inlawrev-22390	72	3	,	,	PUNCT
inlawrev-22390	72	4	a	a	DET
inlawrev-22390	72	5	personal	personal	ADJ
inlawrev-22390	72	6	perspective	perspective	NOUN
inlawrev-22390	72	7	on	on	ADP
inlawrev-22390	72	8	title	title	NOUN
inlawrev-22390	72	9	iii	iii	NUM
inlawrev-22390	72	10	investment	investment	NOUN
inlawrev-22390	72	11	crowdfunding	crowdfunding	NOUN
inlawrev-22390	72	12	,	,	PUNCT
inlawrev-22390	72	13	crowdfund	crowdfund	ADJ
inlawrev-22390	72	14	insider	insider	NOUN
inlawrev-22390	72	15	(	(	PUNCT
inlawrev-22390	72	16	sept	sept	PROPN
inlawrev-22390	72	17	.	.	PROPN
inlawrev-22390	72	18	9	9	NUM
inlawrev-22390	72	19	,	,	PUNCT
inlawrev-22390	72	20	2016	2016	NUM
inlawrev-22390	72	21	,	,	PUNCT
inlawrev-22390	72	22	12:30	12:30	NUM
inlawrev-22390	72	23	pm	pm	NOUN
inlawrev-22390	72	24	)	)	PUNCT
inlawrev-22390	72	25	,	,	PUNCT
inlawrev-22390	72	26	https://www.crowdfundinsider.com/2016/	https://www.crowdfundinsider.com/2016/	PROPN
inlawrev-22390	72	27	09/89965	09/89965	PROPN
inlawrev-22390	72	28	-	-	PUNCT
inlawrev-22390	72	29	personal	personal	ADJ
inlawrev-22390	72	30	-	-	PUNCT
inlawrev-22390	72	31	perspective	perspective	NOUN
inlawrev-22390	72	32	-	-	PUNCT
inlawrev-22390	72	33	title	title	NOUN
inlawrev-22390	72	34	-	-	PUNCT
inlawrev-22390	72	35	iii	iii	NOUN
inlawrev-22390	72	36	-	-	PUNCT
inlawrev-22390	72	37	investment	investment	NOUN
inlawrev-22390	72	38	-	-	PUNCT
inlawrev-22390	72	39	crowdfunding	crowdfunding	NOUN
inlawrev-22390	72	40	[	[	X
inlawrev-22390	72	41	http://perma.cc/72z3-yxyl	http://perma.cc/72z3-yxyl	X
inlawrev-22390	72	42	]	]	X
inlawrev-22390	72	43	.	.	PUNCT
inlawrev-22390	73	1	24	24	NUM
inlawrev-22390	73	2	.	.	PUNCT
inlawrev-22390	74	1	i	i	PRON
inlawrev-22390	74	2	d.	d.	PROPN
inlawrev-22390	74	3	25	25	NUM
inlawrev-22390	74	4	.	.	PUNCT
inlawrev-22390	75	1	i	i	PRON
inlawrev-22390	75	2	d.	d.	PROPN
inlawrev-22390	75	3	26	26	NUM
inlawrev-22390	75	4	.	.	PUNCT
inlawrev-22390	76	1	i	i	PRON
inlawrev-22390	76	2	d.	d.	PROPN
inlawrev-22390	76	3	27	27	NUM
inlawrev-22390	76	4	.	.	PUNCT
inlawrev-22390	77	1	venkat	venkat	PROPN
inlawrev-22390	77	2	kuppuswammy	kuppuswammy	PROPN
inlawrev-22390	77	3	&	&	CCONJ
inlawrev-22390	77	4	kat	kat	PROPN
inlawrev-22390	77	5	hy	hy	PROPN
inlawrev-22390	77	6	roth	roth	PROPN
inlawrev-22390	77	7	,	,	PUNCT
inlawrev-22390	77	8	research	research	NOUN
inlawrev-22390	77	9	on	on	ADP
inlawrev-22390	77	10	the	the	DET
inlawrev-22390	77	11	current	current	ADJ
inlawrev-22390	77	12	state	state	NOUN
inlawrev-22390	77	13	of	of	ADP
inlawrev-22390	77	14	crowdfunding	crowdfunding	NOUN
inlawrev-22390	77	15	:	:	PUNCT
inlawrev-22390	77	16	the	the	DET
inlawrev-22390	77	17	effect	effect	NOUN
inlawrev-22390	77	18	of	of	ADP
inlawrev-22390	77	19	crowdfunding	crowdfunding	NOUN
inlawrev-22390	77	20	performance	performance	NOUN
inlawrev-22390	77	21	and	and	CCONJ
inlawrev-22390	77	22	outside	outside	ADJ
inlawrev-22390	77	23	capital	capital	NOUN
inlawrev-22390	77	24	,	,	PUNCT
inlawrev-22390	77	25	no	no	INTJ
inlawrev-22390	77	26	.	.	NOUN
inlawrev-22390	77	27	433	433	NUM
inlawrev-22390	77	28	,	,	PUNCT
inlawrev-22390	77	29	u.s	u.s	PROPN
inlawrev-22390	77	30	.	.	PROPN
inlawrev-22390	77	31	small	small	ADJ
inlawrev-22390	77	32	bus	bus	NOUN
inlawrev-22390	77	33	.	.	PUNCT
inlawrev-22390	78	1	admin	admin	PROPN
inlawrev-22390	78	2	.	.	PUNCT
inlawrev-22390	79	1	office	office	NOUN
inlawrev-22390	79	2	of	of	ADP
inlawrev-22390	79	3	advocacy	advocacy	NOUN
inlawrev-22390	79	4	1	1	NUM
inlawrev-22390	79	5	,	,	PUNCT
inlawrev-22390	79	6	3	3	NUM
inlawrev-22390	79	7	(	(	PUNCT
inlawrev-22390	79	8	2016	2016	NUM
inlawrev-22390	79	9	)	)	PUNCT
inlawrev-22390	79	10	,	,	PUNCT
inlawrev-22390	79	11	available	available	ADJ
inlawrev-22390	79	12	at	at	ADP
inlawrev-22390	79	13	https://www.sba.gov/	https://www.sba.gov/	PROPN
inlawrev-22390	79	14	sites	site	NOUN
inlawrev-22390	79	15	/	/	SYM
inlawrev-22390	79	16	default	default	NOUN
inlawrev-22390	79	17	/	/	SYM
inlawrev-22390	79	18	files	file	NOUN
inlawrev-22390	79	19	/	/	SYM
inlawrev-22390	79	20	rs433	rs433	NOUN
inlawrev-22390	79	21	-	-	PUNCT
inlawrev-22390	79	22	crowdfunding_rs_clearance5	crowdfunding_rs_clearance5	NOUN
inlawrev-22390	79	23	-	-	PUNCT
inlawrev-22390	79	24	5	5	NUM
inlawrev-22390	79	25	-	-	NUM
inlawrev-22390	79	26	16cx.pdf	16cx.pdf	NUM
inlawrev-22390	80	1	[	[	X
inlawrev-22390	80	2	https://perma.cc/2z7xtxdx	https://perma.cc/2z7xtxdx	X
inlawrev-22390	80	3	]	]	X
inlawrev-22390	80	4	.	.	PUNCT
inlawrev-22390	81	1	28	28	NUM
inlawrev-22390	81	2	.	.	PUNCT
inlawrev-22390	82	1	j.d	j.d	PROPN
inlawrev-22390	82	2	.	.	PROPN
inlawrev-22390	82	3	harrison	harrison	PROPN
inlawrev-22390	82	4	,	,	PUNCT
inlawrev-22390	82	5	who	who	PRON
inlawrev-22390	82	6	actually	actually	ADV
inlawrev-22390	82	7	creates	create	VERB
inlawrev-22390	82	8	jobs	job	NOUN
inlawrev-22390	82	9	:	:	PUNCT
inlawrev-22390	82	10	start	start	NOUN
inlawrev-22390	82	11	-	-	PUNCT
inlawrev-22390	82	12	ups	up	NOUN
inlawrev-22390	82	13	,	,	PUNCT
inlawrev-22390	82	14	small	small	ADJ
inlawrev-22390	82	15	businesses	business	NOUN
inlawrev-22390	82	16	or	or	CCONJ
inlawrev-22390	82	17	big	big	ADJ
inlawrev-22390	82	18	corporations	corporation	NOUN
inlawrev-22390	82	19	?	?	PUNCT
inlawrev-22390	82	20	,	,	PUNCT
inlawrev-22390	82	21	wash	wash	NOUN
inlawrev-22390	82	22	.	.	PUNCT
inlawrev-22390	83	1	post	post	NOUN
inlawrev-22390	83	2	:	:	PUNCT
inlawrev-22390	83	3	on	on	ADP
inlawrev-22390	83	4	small	small	ADJ
inlawrev-22390	83	5	bus	bus	NOUN
inlawrev-22390	83	6	.	.	PUNCT
inlawrev-22390	84	1	(	(	PUNCT
inlawrev-22390	84	2	apr	apr	PROPN
inlawrev-22390	84	3	.	.	PROPN
inlawrev-22390	84	4	25	25	NUM
inlawrev-22390	84	5	,	,	PUNCT
inlawrev-22390	84	6	2013	2013	NUM
inlawrev-22390	84	7	)	)	PUNCT
inlawrev-22390	84	8	,	,	PUNCT
inlawrev-22390	84	9	https://www.washingtonpost.com/	https://www.washingtonpost.com/	NOUN
inlawrev-22390	84	10	business	business	NOUN
inlawrev-22390	84	11	/	/	SYM
inlawrev-22390	84	12	on	on	ADP
inlawrev-22390	84	13	-	-	PUNCT
inlawrev-22390	84	14	small	small	ADJ
inlawrev-22390	84	15	-	-	PUNCT
inlawrev-22390	84	16	business	business	NOUN
inlawrev-22390	84	17	/	/	SYM
inlawrev-22390	84	18	who	who	PRON
inlawrev-22390	84	19	-	-	PUNCT
inlawrev-22390	84	20	actually	actually	ADV
inlawrev-22390	84	21	-	-	PUNCT
inlawrev-22390	84	22	creates	create	VERB
inlawrev-22390	84	23	-	-	PUNCT
inlawrev-22390	84	24	jobs	job	NOUN
inlawrev-22390	84	25	-	-	PUNCT
inlawrev-22390	84	26	start	start	NOUN
inlawrev-22390	84	27	-	-	PUNCT
inlawrev-22390	84	28	u	u	NOUN
inlawrev-22390	84	29	ps	ps	NOUN
inlawrev-22390	84	30	-	-	PUNCT
inlawrev-22390	84	31	sm	sm	NOUN
inlawrev-22390	84	32	all	all	PRON
inlawrev-22390	84	33	-	-	PUNCT
inlawrev-22390	84	34	businesses	business	NOUN
inlawrev-22390	84	35	-	-	PUNCT
inlawrev-22390	84	36	or	or	CCONJ
inlawrev-22390	84	37	-	-	PUNCT
inlawrev-22390	84	38	bigc	bigc	ADJ
inlawrev-22390	84	39	o	o	NOUN
inlawrev-22390	84	40	r	r	NOUN
inlawrev-22390	84	41	p	p	NOUN
inlawrev-22390	84	42	o	o	NOUN
inlawrev-22390	84	43	r	r	NOUN
inlawrev-22390	84	44	a	a	DET
inlawrev-22390	84	45	t	t	NOUN
inlawrev-22390	85	1	i	i	PRON
inlawrev-22390	85	2	o	o	INTJ
inlawrev-22390	86	1	n	n	X
inlawrev-22390	86	2	s	s	NOUN
inlawrev-22390	86	3	/	/	SYM
inlawrev-22390	86	4	2	2	NUM
inlawrev-22390	86	5	0	0	NUM
inlawrev-22390	86	6	1	1	NUM
inlawrev-22390	86	7	3	3	NUM
inlawrev-22390	86	8	/	/	SYM
inlawrev-22390	86	9	0	0	NUM
inlawrev-22390	86	10	4	4	NUM
inlawrev-22390	86	11	/	/	SYM
inlawrev-22390	86	12	2	2	NUM
inlawrev-22390	86	13	4	4	NUM
inlawrev-22390	86	14	/	/	SYM
inlawrev-22390	86	15	d	d	NOUN
inlawrev-22390	86	16	3	3	NUM
inlawrev-22390	86	17	7	7	NUM
inlawrev-22390	86	18	3	3	NUM
inlawrev-22390	86	19	e	e	NOUN
inlawrev-22390	86	20	f	f	X
inlawrev-22390	86	21	0	0	PROPN
inlawrev-22390	86	22	8	8	NUM
inlawrev-22390	86	23	-a	-a	SYM
inlawrev-22390	86	24	c	c	PROPN
inlawrev-22390	86	25	2	2	NUM
inlawrev-22390	86	26	b	b	NOUN
inlawrev-22390	86	27	-1	-1	NOUN
inlawrev-22390	86	28	1	1	NUM
inlawrev-22390	86	29	e	e	SYM
inlawrev-22390	86	30	2	2	NUM
inlawrev-22390	86	31	-a	-a	SYM
inlawrev-22390	86	32	8	8	NUM
inlawrev-22390	86	33	b	b	SYM
inlawrev-22390	86	34	9	9	NUM
inlawrev-22390	86	35	-2	-2	NOUN
inlawrev-22390	86	36	a	a	DET
inlawrev-22390	86	37	6	6	NUM
inlawrev-22390	86	38	3	3	NUM
inlawrev-22390	86	39	d	d	NOUN
inlawrev-22390	86	40	7	7	NUM
inlawrev-22390	86	41	5	5	NUM
inlawrev-22390	86	42	b	b	SYM
inlawrev-22390	86	43	5	5	NUM
inlawrev-22390	86	44	4	4	NUM
inlawrev-22390	86	45	5	5	NUM
inlawrev-22390	86	46	9	9	NUM
inlawrev-22390	86	47	_	_	PRON
inlawrev-22390	86	48	s	s	VERB
inlawrev-22390	86	49	t	t	NOUN
inlawrev-22390	86	50	o	o	NOUN
inlawrev-22390	86	51	r	r	NOUN
inlawrev-22390	86	52	y.	y.	NOUN
inlawrev-22390	86	53	h	h	PROPN
inlawrev-22390	87	1	t	t	PROPN
inlawrev-22390	88	1	m	m	NOUN
inlawrev-22390	88	2	l	l	NOUN
inlawrev-22390	89	1	[	[	X
inlawrev-22390	89	2	https://perma.cc/rl9g-65y2	https://perma.cc/rl9g-65y2	X
inlawrev-22390	89	3	]	]	X
inlawrev-22390	89	4	.	.	PUNCT
inlawrev-22390	90	1	280	280	NUM
inlawrev-22390	90	2	indiana	indiana	PROPN
inlawrev-22390	90	3	law	law	NOUN
inlawrev-22390	90	4	review	review	NOUN
inlawrev-22390	90	5	[	[	X
inlawrev-22390	90	6	vol	vol	NOUN
inlawrev-22390	90	7	.	.	PUNCT
inlawrev-22390	91	1	51:277	51:277	NOUN
inlawrev-22390	91	2	should	should	AUX
inlawrev-22390	91	3	established	establish	VERB
inlawrev-22390	91	4	small	small	ADJ
inlawrev-22390	91	5	businesses	business	NOUN
inlawrev-22390	91	6	be	be	AUX
inlawrev-22390	91	7	regulated	regulate	VERB
inlawrev-22390	91	8	as	as	ADV
inlawrev-22390	91	9	strictly	strictly	ADV
inlawrev-22390	91	10	as	as	ADP
inlawrev-22390	91	11	startups	startup	NOUN
inlawrev-22390	91	12	or	or	CCONJ
inlawrev-22390	91	13	could	could	AUX
inlawrev-22390	91	14	congress	congress	PROPN
inlawrev-22390	91	15	create	create	VERB
inlawrev-22390	91	16	a	a	DET
inlawrev-22390	91	17	separate	separate	ADJ
inlawrev-22390	91	18	category	category	NOUN
inlawrev-22390	91	19	within	within	ADP
inlawrev-22390	91	20	the	the	DET
inlawrev-22390	91	21	jobs	job	NOUN
inlawrev-22390	91	22	act	act	VERB
inlawrev-22390	91	23	to	to	PART
inlawrev-22390	91	24	reflect	reflect	VERB
inlawrev-22390	91	25	these	these	DET
inlawrev-22390	91	26	advantages	advantage	NOUN
inlawrev-22390	91	27	?	?	PUNCT
inlawrev-22390	92	1	if	if	SCONJ
inlawrev-22390	92	2	existing	existing	ADJ
inlawrev-22390	92	3	businesses	business	NOUN
inlawrev-22390	92	4	are	be	AUX
inlawrev-22390	92	5	less	less	ADV
inlawrev-22390	92	6	risky	risky	ADJ
inlawrev-22390	92	7	than	than	ADP
inlawrev-22390	92	8	startups	startup	NOUN
inlawrev-22390	92	9	,	,	PUNCT
inlawrev-22390	92	10	a	a	DET
inlawrev-22390	92	11	reduction	reduction	NOUN
inlawrev-22390	92	12	in	in	ADP
inlawrev-22390	92	13	regulation	regulation	NOUN
inlawrev-22390	92	14	on	on	ADP
inlawrev-22390	92	15	the	the	DET
inlawrev-22390	92	16	business	business	NOUN
inlawrev-22390	92	17	would	would	AUX
inlawrev-22390	92	18	not	not	PART
inlawrev-22390	92	19	put	put	VERB
inlawrev-22390	92	20	investors	investor	NOUN
inlawrev-22390	92	21	more	more	ADV
inlawrev-22390	92	22	at	at	ADP
inlawrev-22390	92	23	risk	risk	NOUN
inlawrev-22390	92	24	.	.	PUNCT
inlawrev-22390	93	1	there	there	PRON
inlawrev-22390	93	2	is	be	VERB
inlawrev-22390	93	3	an	an	DET
inlawrev-22390	93	4	analogy	analogy	NOUN
inlawrev-22390	93	5	for	for	ADP
inlawrev-22390	93	6	making	make	VERB
inlawrev-22390	93	7	such	such	DET
inlawrev-22390	93	8	a	a	DET
inlawrev-22390	93	9	distinction	distinction	NOUN
inlawrev-22390	93	10	within	within	ADP
inlawrev-22390	93	11	existing	exist	VERB
inlawrev-22390	93	12	securities	security	NOUN
inlawrev-22390	93	13	law.29	law.29	NOUN
inlawrev-22390	93	14	certain	certain	ADJ
inlawrev-22390	93	15	publicly	publicly	ADV
inlawrev-22390	93	16	traded	trade	VERB
inlawrev-22390	93	17	companies	company	NOUN
inlawrev-22390	93	18	that	that	PRON
inlawrev-22390	93	19	have	have	AUX
inlawrev-22390	93	20	already	already	ADV
inlawrev-22390	93	21	issued	issue	VERB
inlawrev-22390	93	22	a	a	DET
inlawrev-22390	93	23	substantial	substantial	ADJ
inlawrev-22390	93	24	amount	amount	NOUN
inlawrev-22390	93	25	of	of	ADP
inlawrev-22390	93	26	investor	investor	NOUN
inlawrev-22390	93	27	held	hold	VERB
inlawrev-22390	93	28	securities	security	NOUN
inlawrev-22390	93	29	,	,	PUNCT
inlawrev-22390	93	30	called	call	VERB
inlawrev-22390	93	31	“	"	PUNCT
inlawrev-22390	93	32	well	well	ADV
inlawrev-22390	93	33	-	-	PUNCT
inlawrev-22390	93	34	known	know	VERB
inlawrev-22390	93	35	seasoned	season	VERB
inlawrev-22390	93	36	issuers	issuer	NOUN
inlawrev-22390	93	37	”	"	PUNCT
inlawrev-22390	93	38	(	(	PUNCT
inlawrev-22390	93	39	wksis	wksis	NOUN
inlawrev-22390	93	40	)	)	PUNCT
inlawrev-22390	93	41	,	,	PUNCT
inlawrev-22390	93	42	are	be	AUX
inlawrev-22390	93	43	granted	grant	VERB
inlawrev-22390	93	44	more	more	ADJ
inlawrev-22390	93	45	“	"	PUNCT
inlawrev-22390	93	46	communications	communication	NOUN
inlawrev-22390	93	47	and	and	CCONJ
inlawrev-22390	93	48	registration	registration	NOUN
inlawrev-22390	93	49	flexibilities	flexibility	NOUN
inlawrev-22390	93	50	”	"	PUNCT
inlawrev-22390	93	51	than	than	ADP
inlawrev-22390	93	52	a	a	DET
inlawrev-22390	93	53	brand	brand	NOUN
inlawrev-22390	93	54	-	-	PUNCT
inlawrev-22390	93	55	new	new	ADJ
inlawrev-22390	93	56	issuer.30	issuer.30	NOUN
inlawrev-22390	93	57	although	although	SCONJ
inlawrev-22390	93	58	this	this	DET
inlawrev-22390	93	59	category	category	NOUN
inlawrev-22390	93	60	is	be	AUX
inlawrev-22390	93	61	not	not	PART
inlawrev-22390	93	62	based	base	VERB
inlawrev-22390	93	63	on	on	ADP
inlawrev-22390	93	64	business	business	NOUN
inlawrev-22390	93	65	age	age	NOUN
inlawrev-22390	93	66	,	,	PUNCT
inlawrev-22390	93	67	it	it	PRON
inlawrev-22390	93	68	reflects	reflect	VERB
inlawrev-22390	93	69	the	the	DET
inlawrev-22390	93	70	policy	policy	NOUN
inlawrev-22390	93	71	that	that	PRON
inlawrev-22390	93	72	a	a	DET
inlawrev-22390	93	73	wksi	wksi	NOUN
inlawrev-22390	93	74	may	may	AUX
inlawrev-22390	93	75	be	be	AUX
inlawrev-22390	93	76	a	a	DET
inlawrev-22390	93	77	safer	safe	ADJ
inlawrev-22390	93	78	investment	investment	NOUN
inlawrev-22390	93	79	because	because	SCONJ
inlawrev-22390	93	80	of	of	ADP
inlawrev-22390	93	81	its	its	PRON
inlawrev-22390	93	82	previous	previous	ADJ
inlawrev-22390	93	83	participation	participation	NOUN
inlawrev-22390	93	84	in	in	ADP
inlawrev-22390	93	85	the	the	DET
inlawrev-22390	93	86	market	market	NOUN
inlawrev-22390	93	87	and	and	CCONJ
inlawrev-22390	93	88	wide	wide	ADJ
inlawrev-22390	93	89	following	follow	VERB
inlawrev-22390	93	90	among	among	ADP
inlawrev-22390	93	91	investors.31	investors.31	NOUN
inlawrev-22390	93	92	this	this	DET
inlawrev-22390	93	93	note	note	NOUN
inlawrev-22390	93	94	argues	argue	VERB
inlawrev-22390	93	95	that	that	SCONJ
inlawrev-22390	93	96	congress	congress	PROPN
inlawrev-22390	93	97	should	should	AUX
inlawrev-22390	93	98	modify	modify	VERB
inlawrev-22390	93	99	the	the	DET
inlawrev-22390	93	100	relevant	relevant	ADJ
inlawrev-22390	93	101	portions	portion	NOUN
inlawrev-22390	93	102	of	of	ADP
inlawrev-22390	93	103	the	the	DET
inlawrev-22390	93	104	jobs	job	NOUN
inlawrev-22390	93	105	act	act	VERB
inlawrev-22390	93	106	to	to	PART
inlawrev-22390	93	107	create	create	VERB
inlawrev-22390	93	108	a	a	DET
inlawrev-22390	93	109	distinction	distinction	NOUN
inlawrev-22390	93	110	between	between	ADP
inlawrev-22390	93	111	startups	startup	NOUN
inlawrev-22390	93	112	and	and	CCONJ
inlawrev-22390	93	113	“	"	PUNCT
inlawrev-22390	93	114	seasoned	seasoned	ADJ
inlawrev-22390	93	115	small	small	ADJ
inlawrev-22390	93	116	businesses	business	NOUN
inlawrev-22390	93	117	.	.	PUNCT
inlawrev-22390	94	1	”32	”32	ADJ
inlawrev-22390	94	2	creating	create	VERB
inlawrev-22390	94	3	this	this	DET
inlawrev-22390	94	4	category	category	NOUN
inlawrev-22390	94	5	will	will	AUX
inlawrev-22390	94	6	not	not	PART
inlawrev-22390	94	7	resolve	resolve	VERB
inlawrev-22390	94	8	the	the	DET
inlawrev-22390	94	9	debate	debate	NOUN
inlawrev-22390	94	10	about	about	ADP
inlawrev-22390	94	11	the	the	DET
inlawrev-22390	94	12	utility	utility	NOUN
inlawrev-22390	94	13	or	or	CCONJ
inlawrev-22390	94	14	safety	safety	NOUN
inlawrev-22390	94	15	of	of	ADP
inlawrev-22390	94	16	regulation	regulation	NOUN
inlawrev-22390	94	17	crowdfunding	crowdfunde	VERB
inlawrev-22390	94	18	in	in	ADP
inlawrev-22390	94	19	the	the	DET
inlawrev-22390	94	20	context	context	NOUN
inlawrev-22390	94	21	of	of	ADP
inlawrev-22390	94	22	startups	startup	NOUN
inlawrev-22390	94	23	.	.	PUNCT
inlawrev-22390	95	1	it	it	PRON
inlawrev-22390	95	2	is	be	AUX
inlawrev-22390	95	3	not	not	PART
inlawrev-22390	95	4	the	the	DET
inlawrev-22390	95	5	intention	intention	NOUN
inlawrev-22390	95	6	of	of	ADP
inlawrev-22390	95	7	this	this	DET
inlawrev-22390	95	8	note	note	NOUN
inlawrev-22390	95	9	to	to	PART
inlawrev-22390	95	10	argue	argue	VERB
inlawrev-22390	95	11	that	that	SCONJ
inlawrev-22390	95	12	startups	startup	NOUN
inlawrev-22390	95	13	should	should	AUX
inlawrev-22390	95	14	not	not	PART
inlawrev-22390	95	15	be	be	AUX
inlawrev-22390	95	16	able	able	ADJ
inlawrev-22390	95	17	to	to	PART
inlawrev-22390	95	18	participate	participate	VERB
inlawrev-22390	95	19	in	in	ADP
inlawrev-22390	95	20	crowdfunding	crowdfunding	NOUN
inlawrev-22390	95	21	or	or	CCONJ
inlawrev-22390	95	22	is	be	AUX
inlawrev-22390	95	23	it	it	PRON
inlawrev-22390	95	24	the	the	DET
inlawrev-22390	95	25	intention	intention	NOUN
inlawrev-22390	95	26	to	to	PART
inlawrev-22390	95	27	argue	argue	VERB
inlawrev-22390	95	28	that	that	SCONJ
inlawrev-22390	95	29	the	the	DET
inlawrev-22390	95	30	rules	rule	NOUN
inlawrev-22390	95	31	as	as	SCONJ
inlawrev-22390	95	32	they	they	PRON
inlawrev-22390	95	33	apply	apply	VERB
inlawrev-22390	95	34	to	to	ADP
inlawrev-22390	95	35	startups	startup	NOUN
inlawrev-22390	95	36	do	do	AUX
inlawrev-22390	95	37	not	not	PART
inlawrev-22390	95	38	need	need	VERB
inlawrev-22390	95	39	modification	modification	NOUN
inlawrev-22390	95	40	.	.	PUNCT
inlawrev-22390	96	1	this	this	DET
inlawrev-22390	96	2	note	note	NOUN
inlawrev-22390	96	3	argues	argue	VERB
inlawrev-22390	96	4	that	that	SCONJ
inlawrev-22390	96	5	a	a	DET
inlawrev-22390	96	6	new	new	ADJ
inlawrev-22390	96	7	set	set	NOUN
inlawrev-22390	96	8	of	of	ADP
inlawrev-22390	96	9	rules	rule	NOUN
inlawrev-22390	96	10	for	for	ADP
inlawrev-22390	96	11	seasoned	seasoned	ADJ
inlawrev-22390	96	12	small	small	ADJ
inlawrev-22390	96	13	businesses	business	NOUN
inlawrev-22390	96	14	will	will	AUX
inlawrev-22390	96	15	help	help	VERB
inlawrev-22390	96	16	to	to	PART
inlawrev-22390	96	17	assuage	assuage	VERB
inlawrev-22390	96	18	the	the	DET
inlawrev-22390	96	19	concerns	concern	NOUN
inlawrev-22390	96	20	of	of	ADP
inlawrev-22390	96	21	both	both	DET
inlawrev-22390	96	22	sides	side	NOUN
inlawrev-22390	96	23	,	,	PUNCT
inlawrev-22390	96	24	provide	provide	VERB
inlawrev-22390	96	25	new	new	ADJ
inlawrev-22390	96	26	capital	capital	NOUN
inlawrev-22390	96	27	for	for	ADP
inlawrev-22390	96	28	a	a	DET
inlawrev-22390	96	29	large	large	ADJ
inlawrev-22390	96	30	sector	sector	NOUN
inlawrev-22390	96	31	of	of	ADP
inlawrev-22390	96	32	the	the	DET
inlawrev-22390	96	33	economy	economy	NOUN
inlawrev-22390	96	34	,	,	PUNCT
inlawrev-22390	96	35	and	and	CCONJ
inlawrev-22390	96	36	allow	allow	VERB
inlawrev-22390	96	37	investors	investor	NOUN
inlawrev-22390	96	38	to	to	PART
inlawrev-22390	96	39	see	see	VERB
inlawrev-22390	96	40	some	some	DET
inlawrev-22390	96	41	financial	financial	ADJ
inlawrev-22390	96	42	gain	gain	NOUN
inlawrev-22390	96	43	.	.	PUNCT
inlawrev-22390	97	1	part	part	NOUN
inlawrev-22390	97	2	i	i	PRON
inlawrev-22390	97	3	discusses	discuss	VERB
inlawrev-22390	97	4	the	the	DET
inlawrev-22390	97	5	historical	historical	ADJ
inlawrev-22390	97	6	background	background	NOUN
inlawrev-22390	97	7	of	of	ADP
inlawrev-22390	97	8	crowdfunding	crowdfunding	NOUN
inlawrev-22390	97	9	.	.	PUNCT
inlawrev-22390	98	1	part	part	NOUN
inlawrev-22390	98	2	ii	ii	PROPN
inlawrev-22390	98	3	discusses	discuss	VERB
inlawrev-22390	98	4	securities	security	NOUN
inlawrev-22390	98	5	regulation	regulation	NOUN
inlawrev-22390	98	6	and	and	CCONJ
inlawrev-22390	98	7	how	how	SCONJ
inlawrev-22390	98	8	the	the	DET
inlawrev-22390	98	9	jobs	job	NOUN
inlawrev-22390	98	10	act	act	VERB
inlawrev-22390	98	11	fits	fit	VERB
inlawrev-22390	98	12	into	into	ADP
inlawrev-22390	98	13	existing	exist	VERB
inlawrev-22390	98	14	law	law	NOUN
inlawrev-22390	98	15	.	.	PUNCT
inlawrev-22390	99	1	part	part	NOUN
inlawrev-22390	99	2	iii	iii	PROPN
inlawrev-22390	99	3	discusses	discuss	VERB
inlawrev-22390	99	4	the	the	DET
inlawrev-22390	99	5	debate	debate	NOUN
inlawrev-22390	99	6	between	between	ADP
inlawrev-22390	99	7	commentators	commentator	NOUN
inlawrev-22390	99	8	on	on	ADP
inlawrev-22390	99	9	the	the	DET
inlawrev-22390	99	10	utility	utility	NOUN
inlawrev-22390	99	11	of	of	ADP
inlawrev-22390	99	12	the	the	DET
inlawrev-22390	99	13	law	law	NOUN
inlawrev-22390	99	14	as	as	SCONJ
inlawrev-22390	99	15	it	it	PRON
inlawrev-22390	99	16	stands	stand	VERB
inlawrev-22390	99	17	.	.	PUNCT
inlawrev-22390	100	1	part	part	NOUN
inlawrev-22390	100	2	iv	iv	NUM
inlawrev-22390	100	3	argues	argue	VERB
inlawrev-22390	100	4	that	that	SCONJ
inlawrev-22390	100	5	there	there	PRON
inlawrev-22390	100	6	are	be	VERB
inlawrev-22390	100	7	compelling	compelling	ADJ
inlawrev-22390	100	8	policy	policy	NOUN
inlawrev-22390	100	9	reasons	reason	NOUN
inlawrev-22390	100	10	for	for	ADP
inlawrev-22390	100	11	encouraging	encourage	VERB
inlawrev-22390	100	12	seasoned	season	VERB
inlawrev-22390	100	13	small	small	ADJ
inlawrev-22390	100	14	business	business	NOUN
inlawrev-22390	100	15	participation	participation	NOUN
inlawrev-22390	100	16	as	as	ADP
inlawrev-22390	100	17	a	a	DET
inlawrev-22390	100	18	compromise	compromise	NOUN
inlawrev-22390	100	19	position	position	NOUN
inlawrev-22390	100	20	.	.	PUNCT
inlawrev-22390	101	1	finally	finally	ADV
inlawrev-22390	101	2	,	,	PUNCT
inlawrev-22390	101	3	part	part	NOUN
inlawrev-22390	101	4	v	v	NOUN
inlawrev-22390	101	5	suggests	suggest	VERB
inlawrev-22390	101	6	specific	specific	ADJ
inlawrev-22390	101	7	changes	change	NOUN
inlawrev-22390	101	8	to	to	ADP
inlawrev-22390	101	9	the	the	DET
inlawrev-22390	101	10	jobs	job	NOUN
inlawrev-22390	101	11	act	act	PROPN
inlawrev-22390	101	12	.	.	PUNCT
inlawrev-22390	102	1	29	29	NUM
inlawrev-22390	102	2	.	.	PUNCT
inlawrev-22390	103	1	see	see	VERB
inlawrev-22390	103	2	generally	generally	ADV
inlawrev-22390	103	3	securities	security	NOUN
inlawrev-22390	103	4	offering	offer	VERB
inlawrev-22390	103	5	reform	reform	NOUN
inlawrev-22390	103	6	,	,	PUNCT
inlawrev-22390	103	7	70	70	NUM
inlawrev-22390	103	8	fed	feed	VERB
inlawrev-22390	103	9	.	.	PUNCT
inlawrev-22390	104	1	reg	reg	PROPN
inlawrev-22390	104	2	.	.	PROPN
inlawrev-22390	105	1	44,722	44,722	NUM
inlawrev-22390	105	2	,	,	PUNCT
inlawrev-22390	105	3	44,726	44,726	NUM
inlawrev-22390	105	4	-	-	SYM
inlawrev-22390	105	5	31	31	NUM
inlawrev-22390	105	6	(	(	PUNCT
inlawrev-22390	105	7	aug	aug	PROPN
inlawrev-22390	105	8	.	.	PROPN
inlawrev-22390	105	9	3	3	NUM
inlawrev-22390	105	10	,	,	PUNCT
inlawrev-22390	105	11	2005	2005	NUM
inlawrev-22390	105	12	)	)	PUNCT
inlawrev-22390	105	13	.	.	PUNCT
inlawrev-22390	106	1	30	30	NUM
inlawrev-22390	106	2	.	.	PUNCT
inlawrev-22390	107	1	i	i	PRON
inlawrev-22390	107	2	d.	d.	PROPN
inlawrev-22390	107	3	at	at	ADP
inlawrev-22390	107	4	44,727	44,727	NUM
inlawrev-22390	107	5	.	.	PUNCT
inlawrev-22390	108	1	an	an	DET
inlawrev-22390	108	2	issuer	issuer	NOUN
inlawrev-22390	108	3	is	be	AUX
inlawrev-22390	108	4	“	"	PUNCT
inlawrev-22390	108	5	every	every	DET
inlawrev-22390	108	6	person	person	NOUN
inlawrev-22390	108	7	who	who	PRON
inlawrev-22390	108	8	issues	issue	VERB
inlawrev-22390	108	9	or	or	CCONJ
inlawrev-22390	108	10	proposes	propose	VERB
inlawrev-22390	108	11	to	to	PART
inlawrev-22390	108	12	issue	issue	VERB
inlawrev-22390	108	13	any	any	DET
inlawrev-22390	108	14	security	security	NOUN
inlawrev-22390	108	15	[	[	X
inlawrev-22390	108	16	.	.	PUNCT
inlawrev-22390	108	17	]	]	X
inlawrev-22390	108	18	”	"	PUNCT
inlawrev-22390	108	19	15	15	NUM
inlawrev-22390	108	20	u.s.c	u.s.c	NOUN
inlawrev-22390	108	21	.	.	PUNCT
inlawrev-22390	109	1	§	§	PROPN
inlawrev-22390	109	2	77b(a)(4	77b(a)(4	PROPN
inlawrev-22390	109	3	)	)	PUNCT
inlawrev-22390	109	4	(	(	PUNCT
inlawrev-22390	109	5	2012	2012	NUM
inlawrev-22390	109	6	)	)	PUNCT
inlawrev-22390	109	7	.	.	PUNCT
inlawrev-22390	110	1	31	31	NUM
inlawrev-22390	110	2	.	.	PUNCT
inlawrev-22390	111	1	securities	security	NOUN
inlawrev-22390	111	2	offering	offer	VERB
inlawrev-22390	111	3	reform	reform	NOUN
inlawrev-22390	111	4	,	,	PUNCT
inlawrev-22390	111	5	70	70	NUM
inlawrev-22390	111	6	fed	feed	VERB
inlawrev-22390	111	7	.	.	PUNCT
inlawrev-22390	112	1	reg	reg	PROPN
inlawrev-22390	112	2	.	.	PUNCT
inlawrev-22390	113	1	at	at	ADP
inlawrev-22390	113	2	44,726	44,726	NUM
inlawrev-22390	113	3	-	-	SYM
inlawrev-22390	113	4	27	27	NUM
inlawrev-22390	113	5	.	.	PUNCT
inlawrev-22390	114	1	32	32	NUM
inlawrev-22390	114	2	.	.	PUNCT
inlawrev-22390	115	1	for	for	ADP
inlawrev-22390	115	2	consistency	consistency	NOUN
inlawrev-22390	115	3	,	,	PUNCT
inlawrev-22390	115	4	the	the	DET
inlawrev-22390	115	5	new	new	ADJ
inlawrev-22390	115	6	category	category	NOUN
inlawrev-22390	115	7	should	should	AUX
inlawrev-22390	115	8	adopt	adopt	VERB
inlawrev-22390	115	9	the	the	DET
inlawrev-22390	115	10	“	"	PUNCT
inlawrev-22390	115	11	seasoned	seasoned	ADJ
inlawrev-22390	115	12	”	"	PUNCT
inlawrev-22390	115	13	nomenclature	nomenclature	NOUN
inlawrev-22390	115	14	the	the	DET
inlawrev-22390	115	15	sec	sec	PROPN
inlawrev-22390	115	16	already	already	ADV
inlawrev-22390	115	17	adopted	adopt	VERB
inlawrev-22390	115	18	in	in	ADP
inlawrev-22390	115	19	other	other	ADJ
inlawrev-22390	115	20	applications	application	NOUN
inlawrev-22390	115	21	.	.	PUNCT
inlawrev-22390	116	1	as	as	SCONJ
inlawrev-22390	116	2	becomes	become	VERB
inlawrev-22390	116	3	apparent	apparent	ADJ
inlawrev-22390	116	4	in	in	ADP
inlawrev-22390	116	5	part	part	NOUN
inlawrev-22390	116	6	iv	iv	ADP
inlawrev-22390	116	7	,	,	PUNCT
inlawrev-22390	116	8	a	a	DET
inlawrev-22390	116	9	“	"	PUNCT
inlawrev-22390	116	10	seasoned	seasoned	ADJ
inlawrev-22390	116	11	small	small	ADJ
inlawrev-22390	116	12	business	business	NOUN
inlawrev-22390	116	13	”	"	PUNCT
inlawrev-22390	116	14	should	should	AUX
inlawrev-22390	116	15	mean	mean	VERB
inlawrev-22390	116	16	a	a	DET
inlawrev-22390	116	17	small	small	ADJ
inlawrev-22390	116	18	business	business	NOUN
inlawrev-22390	116	19	that	that	PRON
inlawrev-22390	116	20	has	have	AUX
inlawrev-22390	116	21	been	be	AUX
inlawrev-22390	116	22	in	in	ADP
inlawrev-22390	116	23	continuous	continuous	ADJ
inlawrev-22390	116	24	operation	operation	NOUN
inlawrev-22390	116	25	for	for	ADP
inlawrev-22390	116	26	at	at	ADV
inlawrev-22390	116	27	least	least	ADV
inlawrev-22390	116	28	three	three	NUM
inlawrev-22390	116	29	years	year	NOUN
inlawrev-22390	116	30	.	.	PUNCT
inlawrev-22390	117	1	for	for	ADP
inlawrev-22390	117	2	the	the	DET
inlawrev-22390	117	3	purposes	purpose	NOUN
inlawrev-22390	117	4	of	of	ADP
inlawrev-22390	117	5	this	this	DET
inlawrev-22390	117	6	note	note	NOUN
inlawrev-22390	117	7	,	,	PUNCT
inlawrev-22390	117	8	a	a	DET
inlawrev-22390	117	9	“	"	PUNCT
inlawrev-22390	117	10	startup	startup	NOUN
inlawrev-22390	117	11	”	"	PUNCT
inlawrev-22390	117	12	will	will	AUX
inlawrev-22390	117	13	refer	refer	VERB
inlawrev-22390	117	14	to	to	ADP
inlawrev-22390	117	15	a	a	DET
inlawrev-22390	117	16	business	business	NOUN
inlawrev-22390	117	17	that	that	PRON
inlawrev-22390	117	18	has	have	AUX
inlawrev-22390	117	19	been	be	AUX
inlawrev-22390	117	20	in	in	ADP
inlawrev-22390	117	21	operation	operation	NOUN
inlawrev-22390	117	22	for	for	ADP
inlawrev-22390	117	23	less	less	ADJ
inlawrev-22390	117	24	than	than	ADP
inlawrev-22390	117	25	three	three	NUM
inlawrev-22390	117	26	years	year	NOUN
inlawrev-22390	117	27	.	.	PUNCT
inlawrev-22390	118	1	likewise	likewise	ADV
inlawrev-22390	118	2	,	,	PUNCT
inlawrev-22390	118	3	a	a	DET
inlawrev-22390	118	4	“	"	PUNCT
inlawrev-22390	118	5	small	small	ADJ
inlawrev-22390	118	6	business	business	NOUN
inlawrev-22390	118	7	”	"	PUNCT
inlawrev-22390	118	8	will	will	AUX
inlawrev-22390	118	9	mean	mean	VERB
inlawrev-22390	118	10	the	the	DET
inlawrev-22390	118	11	small	small	ADJ
inlawrev-22390	118	12	business	business	PROPN
inlawrev-22390	118	13	administration	administration	PROPN
inlawrev-22390	118	14	(	(	PUNCT
inlawrev-22390	118	15	sba	sba	PROPN
inlawrev-22390	118	16	)	)	PUNCT
inlawrev-22390	118	17	general	general	ADJ
inlawrev-22390	118	18	standard	standard	NOUN
inlawrev-22390	118	19	for	for	ADP
inlawrev-22390	118	20	loans	loan	NOUN
inlawrev-22390	118	21	that	that	PRON
inlawrev-22390	118	22	refers	refer	VERB
inlawrev-22390	118	23	to	to	ADP
inlawrev-22390	118	24	either	either	DET
inlawrev-22390	118	25	1	1	NUM
inlawrev-22390	118	26	)	)	PUNCT
inlawrev-22390	118	27	businesses	business	NOUN
inlawrev-22390	118	28	with	with	ADP
inlawrev-22390	118	29	500	500	NUM
inlawrev-22390	118	30	employees	employee	NOUN
inlawrev-22390	118	31	or	or	CCONJ
inlawrev-22390	118	32	less	less	ADV
inlawrev-22390	118	33	engaged	engage	VERB
inlawrev-22390	118	34	in	in	ADP
inlawrev-22390	118	35	manufacturing	manufacturing	NOUN
inlawrev-22390	118	36	or	or	CCONJ
inlawrev-22390	118	37	mining	mining	NOUN
inlawrev-22390	118	38	,	,	PUNCT
inlawrev-22390	118	39	or	or	CCONJ
inlawrev-22390	118	40	2	2	NUM
inlawrev-22390	118	41	)	)	PUNCT
inlawrev-22390	118	42	$	$	SYM
inlawrev-22390	118	43	7.5	7.5	NUM
inlawrev-22390	118	44	million	million	NUM
inlawrev-22390	118	45	in	in	ADP
inlawrev-22390	118	46	average	average	ADJ
inlawrev-22390	118	47	annual	annual	ADJ
inlawrev-22390	118	48	receipts	receipt	NOUN
inlawrev-22390	118	49	or	or	CCONJ
inlawrev-22390	118	50	less	less	ADJ
inlawrev-22390	118	51	for	for	ADP
inlawrev-22390	118	52	most	most	ADJ
inlawrev-22390	118	53	nonmanufacturing	nonmanufacturing	ADJ
inlawrev-22390	118	54	settings	setting	NOUN
inlawrev-22390	118	55	.	.	PUNCT
inlawrev-22390	119	1	the	the	DET
inlawrev-22390	119	2	sba	sba	PROPN
inlawrev-22390	119	3	bases	base	VERB
inlawrev-22390	119	4	small	small	ADJ
inlawrev-22390	119	5	business	business	NOUN
inlawrev-22390	119	6	size	size	NOUN
inlawrev-22390	119	7	on	on	ADP
inlawrev-22390	119	8	an	an	DET
inlawrev-22390	119	9	industry	industry	NOUN
inlawrev-22390	119	10	by	by	ADP
inlawrev-22390	119	11	industry	industry	NOUN
inlawrev-22390	119	12	basis	basis	NOUN
inlawrev-22390	119	13	,	,	PUNCT
inlawrev-22390	119	14	but	but	CCONJ
inlawrev-22390	119	15	these	these	DET
inlawrev-22390	119	16	two	two	NUM
inlawrev-22390	119	17	benchmarks	benchmark	NOUN
inlawrev-22390	119	18	should	should	AUX
inlawrev-22390	119	19	serve	serve	VERB
inlawrev-22390	119	20	as	as	ADP
inlawrev-22390	119	21	a	a	DET
inlawrev-22390	119	22	rough	rough	ADJ
inlawrev-22390	119	23	approximation	approximation	NOUN
inlawrev-22390	119	24	.	.	PUNCT
inlawrev-22390	120	1	summary	summary	NOUN
inlawrev-22390	120	2	of	of	ADP
inlawrev-22390	120	3	size	size	NOUN
inlawrev-22390	120	4	standards	standard	NOUN
inlawrev-22390	120	5	by	by	ADP
inlawrev-22390	120	6	industry	industry	NOUN
inlawrev-22390	120	7	sector	sector	NOUN
inlawrev-22390	120	8	,	,	PUNCT
inlawrev-22390	120	9	sba	sba	PROPN
inlawrev-22390	120	10	(	(	PUNCT
inlawrev-22390	120	11	oct	oct	PROPN
inlawrev-22390	120	12	.	.	PROPN
inlawrev-22390	120	13	1	1	NUM
inlawrev-22390	120	14	,	,	PUNCT
inlawrev-22390	120	15	2017	2017	NUM
inlawrev-22390	120	16	)	)	PUNCT
inlawrev-22390	120	17	,	,	PUNCT
inlawrev-22390	120	18	https://www.sba.gov/contracting/getting-startedcontractor/make-sure-you-meet-sba-size-standards/summary-size-standards-industry-sector	https://www.sba.gov/contracting/getting-startedcontractor/make-sure-you-meet-sba-size-standards/summary-size-standards-industry-sector	NOUN
inlawrev-22390	121	1	[	[	X
inlawrev-22390	121	2	https://perma.cc/lva5-6t5d	https://perma.cc/lva5-6t5d	NUM
inlawrev-22390	121	3	]	]	X
inlawrev-22390	121	4	.	.	PUNCT
inlawrev-22390	122	1	2018	2018	NUM
inlawrev-22390	122	2	]	]	PUNCT
inlawrev-22390	122	3	false	false	ADJ
inlawrev-22390	122	4	start	start	NOUN
inlawrev-22390	122	5	:	:	PUNCT
inlawrev-22390	122	6	carving	carve	VERB
inlawrev-22390	122	7	a	a	DET
inlawrev-22390	122	8	niche	niche	NOUN
inlawrev-22390	122	9	281	281	NUM
inlawrev-22390	122	10	i.	i.	NOUN
inlawrev-22390	122	11	the	the	DET
inlawrev-22390	122	12	development	development	NOUN
inlawrev-22390	122	13	of	of	ADP
inlawrev-22390	122	14	crowdfunding	crowdfunding	NOUN
inlawrev-22390	122	15	in	in	ADP
inlawrev-22390	122	16	spite	spite	NOUN
inlawrev-22390	122	17	of	of	ADP
inlawrev-22390	122	18	the	the	DET
inlawrev-22390	122	19	relatively	relatively	ADV
inlawrev-22390	122	20	recent	recent	ADJ
inlawrev-22390	122	21	development	development	NOUN
inlawrev-22390	122	22	of	of	ADP
inlawrev-22390	122	23	the	the	DET
inlawrev-22390	122	24	word	word	NOUN
inlawrev-22390	122	25	“	"	PUNCT
inlawrev-22390	122	26	crowdfunding,”3	crowdfunding,”3	VERB
inlawrev-22390	122	27	3	3	NUM
inlawrev-22390	122	28	the	the	DET
inlawrev-22390	122	29	concept	concept	NOUN
inlawrev-22390	122	30	has	have	VERB
inlawrev-22390	122	31	a	a	DET
inlawrev-22390	122	32	long	long	ADJ
inlawrev-22390	122	33	historical	historical	ADJ
inlawrev-22390	122	34	track	track	NOUN
inlawrev-22390	122	35	record.34	record.34	NOUN
inlawrev-22390	122	36	for	for	ADP
inlawrev-22390	122	37	example	example	NOUN
inlawrev-22390	122	38	in	in	ADP
inlawrev-22390	122	39	the	the	DET
inlawrev-22390	122	40	eighteenth	eighteenth	ADJ
inlawrev-22390	122	41	and	and	CCONJ
inlawrev-22390	122	42	nineteenth	nineteenth	ADJ
inlawrev-22390	122	43	century	century	NOUN
inlawrev-22390	122	44	,	,	PUNCT
inlawrev-22390	122	45	“	"	PUNCT
inlawrev-22390	122	46	loan	loan	NOUN
inlawrev-22390	122	47	funds	fund	NOUN
inlawrev-22390	122	48	”	"	PUNCT
inlawrev-22390	122	49	in	in	ADP
inlawrev-22390	122	50	ireland	ireland	NOUN
inlawrev-22390	122	51	provided	provide	VERB
inlawrev-22390	122	52	much	much	ADJ
inlawrev-22390	122	53	needed	need	VERB
inlawrev-22390	122	54	credit	credit	NOUN
inlawrev-22390	122	55	to	to	ADP
inlawrev-22390	122	56	impoverished	impoverished	ADJ
inlawrev-22390	122	57	irish	irish	ADJ
inlawrev-22390	122	58	citizens	citizen	NOUN
inlawrev-22390	122	59	by	by	ADP
inlawrev-22390	122	60	soliciting	solicit	VERB
inlawrev-22390	122	61	monetary	monetary	ADJ
inlawrev-22390	122	62	donations	donation	NOUN
inlawrev-22390	122	63	from	from	ADP
inlawrev-22390	122	64	the	the	DET
inlawrev-22390	122	65	more	more	ADV
inlawrev-22390	122	66	financially	financially	ADV
inlawrev-22390	122	67	secure	secure	ADJ
inlawrev-22390	122	68	that	that	PRON
inlawrev-22390	122	69	were	be	AUX
inlawrev-22390	122	70	then	then	ADV
inlawrev-22390	122	71	redistributed	redistribute	VERB
inlawrev-22390	122	72	as	as	ADP
inlawrev-22390	122	73	microloans	microloan	NOUN
inlawrev-22390	122	74	to	to	ADP
inlawrev-22390	122	75	the	the	DET
inlawrev-22390	122	76	poor.35	poor.35	NOUN
inlawrev-22390	122	77	it	it	PRON
inlawrev-22390	122	78	can	can	AUX
inlawrev-22390	122	79	even	even	ADV
inlawrev-22390	122	80	be	be	AUX
inlawrev-22390	122	81	said	say	VERB
inlawrev-22390	122	82	that	that	SCONJ
inlawrev-22390	122	83	the	the	DET
inlawrev-22390	122	84	statue	statue	NOUN
inlawrev-22390	122	85	of	of	ADP
inlawrev-22390	122	86	liberty	liberty	NOUN
inlawrev-22390	122	87	was	be	AUX
inlawrev-22390	122	88	completed	complete	VERB
inlawrev-22390	122	89	thanks	thank	NOUN
inlawrev-22390	122	90	to	to	ADP
inlawrev-22390	122	91	a	a	DET
inlawrev-22390	122	92	crowdfunding	crowdfunding	NOUN
inlawrev-22390	122	93	campaign	campaign	NOUN
inlawrev-22390	122	94	that	that	PRON
inlawrev-22390	122	95	began	begin	VERB
inlawrev-22390	122	96	in	in	ADP
inlawrev-22390	122	97	the	the	DET
inlawrev-22390	122	98	united	united	PROPN
inlawrev-22390	122	99	states	states	PROPN
inlawrev-22390	122	100	via	via	ADP
inlawrev-22390	122	101	newspaper	newspaper	NOUN
inlawrev-22390	122	102	in	in	ADP
inlawrev-22390	122	103	1885	1885	NUM
inlawrev-22390	122	104	and	and	CCONJ
inlawrev-22390	122	105	raised	raise	VERB
inlawrev-22390	122	106	$	$	SYM
inlawrev-22390	122	107	100,000	100,000	NUM
inlawrev-22390	122	108	,	,	PUNCT
inlawrev-22390	122	109	mostly	mostly	ADV
inlawrev-22390	122	110	from	from	ADP
inlawrev-22390	122	111	donations	donation	NOUN
inlawrev-22390	122	112	under	under	ADP
inlawrev-22390	122	113	one	one	NUM
inlawrev-22390	122	114	dollar.36	dollar.36	NOUN
inlawrev-22390	122	115	in	in	ADP
inlawrev-22390	122	116	the	the	DET
inlawrev-22390	122	117	modern	modern	ADJ
inlawrev-22390	122	118	context	context	NOUN
inlawrev-22390	122	119	,	,	PUNCT
inlawrev-22390	122	120	crowdfunding	crowdfunde	VERB
inlawrev-22390	122	121	typically	typically	ADV
inlawrev-22390	122	122	refers	refer	VERB
inlawrev-22390	122	123	to	to	ADP
inlawrev-22390	122	124	a	a	DET
inlawrev-22390	122	125	method	method	NOUN
inlawrev-22390	122	126	of	of	ADP
inlawrev-22390	122	127	raising	raise	VERB
inlawrev-22390	122	128	funds	fund	NOUN
inlawrev-22390	122	129	from	from	ADP
inlawrev-22390	122	130	the	the	DET
inlawrev-22390	122	131	internet	internet	NOUN
inlawrev-22390	122	132	at	at	ADP
inlawrev-22390	122	133	-	-	PUNCT
inlawrev-22390	122	134	large	large	ADJ
inlawrev-22390	122	135	through	through	ADP
inlawrev-22390	122	136	specialized	specialized	ADJ
inlawrev-22390	122	137	websites.37	websites.37	PROPN
inlawrev-22390	122	138	crowdfunding	crowdfunding	NOUN
inlawrev-22390	122	139	has	have	AUX
inlawrev-22390	122	140	been	be	AUX
inlawrev-22390	122	141	used	use	VERB
inlawrev-22390	122	142	to	to	PART
inlawrev-22390	122	143	raise	raise	VERB
inlawrev-22390	122	144	money	money	NOUN
inlawrev-22390	122	145	for	for	ADP
inlawrev-22390	122	146	feature	feature	NOUN
inlawrev-22390	122	147	films	film	NOUN
inlawrev-22390	122	148	,	,	PUNCT
inlawrev-22390	122	149	to	to	PART
inlawrev-22390	122	150	cover	cover	VERB
inlawrev-22390	122	151	expenses	expense	NOUN
inlawrev-22390	122	152	incurred	incur	VERB
inlawrev-22390	122	153	during	during	ADP
inlawrev-22390	122	154	litigation	litigation	NOUN
inlawrev-22390	122	155	,	,	PUNCT
inlawrev-22390	122	156	and	and	CCONJ
inlawrev-22390	122	157	even	even	ADV
inlawrev-22390	122	158	to	to	PART
inlawrev-22390	122	159	give	give	VERB
inlawrev-22390	122	160	one	one	NUM
inlawrev-22390	122	161	man	man	NOUN
inlawrev-22390	122	162	the	the	DET
inlawrev-22390	122	163	chance	chance	NOUN
inlawrev-22390	122	164	to	to	PART
inlawrev-22390	122	165	make	make	VERB
inlawrev-22390	122	166	$	$	SYM
inlawrev-22390	122	167	55,000	55,000	NUM
inlawrev-22390	122	168	worth	worth	NOUN
inlawrev-22390	122	169	of	of	ADP
inlawrev-22390	122	170	potato	potato	NOUN
inlawrev-22390	122	171	salad.38	salad.38	NOUN
inlawrev-22390	122	172	internet	internet	NOUN
inlawrev-22390	122	173	crowdfunding	crowdfunding	NOUN
inlawrev-22390	122	174	can	can	AUX
inlawrev-22390	122	175	be	be	AUX
inlawrev-22390	122	176	categorized	categorize	VERB
inlawrev-22390	122	177	into	into	ADP
inlawrev-22390	122	178	five	five	NUM
inlawrev-22390	122	179	basic	basic	ADJ
inlawrev-22390	122	180	forms	form	NOUN
inlawrev-22390	122	181	:	:	PUNCT
inlawrev-22390	122	182	donation	donation	NOUN
inlawrev-22390	122	183	based	base	VERB
inlawrev-22390	122	184	,	,	PUNCT
inlawrev-22390	122	185	pre	pre	ADJ
inlawrev-22390	122	186	-	-	NOUN
inlawrev-22390	122	187	purchase	purchase	NOUN
inlawrev-22390	122	188	based	base	VERB
inlawrev-22390	122	189	,	,	PUNCT
inlawrev-22390	122	190	rewards	reward	NOUN
inlawrev-22390	122	191	based	base	VERB
inlawrev-22390	122	192	,	,	PUNCT
inlawrev-22390	122	193	debt	debt	NOUN
inlawrev-22390	122	194	based	base	VERB
inlawrev-22390	122	195	,	,	PUNCT
inlawrev-22390	122	196	and	and	CCONJ
inlawrev-22390	122	197	equity	equity	NOUN
inlawrev-22390	122	198	based.39	based.39	PROPN
inlawrev-22390	122	199	donation	donation	NOUN
inlawrev-22390	122	200	based	base	VERB
inlawrev-22390	122	201	crowdfunding	crowdfunding	NOUN
inlawrev-22390	122	202	campaigns	campaign	NOUN
inlawrev-22390	122	203	solicit	solicit	VERB
inlawrev-22390	122	204	donations	donation	NOUN
inlawrev-22390	122	205	from	from	ADP
inlawrev-22390	122	206	the	the	DET
inlawrev-22390	122	207	crowd	crowd	NOUN
inlawrev-22390	122	208	and	and	CCONJ
inlawrev-22390	122	209	are	be	AUX
inlawrev-22390	122	210	typically	typically	ADV
inlawrev-22390	122	211	used	use	VERB
inlawrev-22390	122	212	by	by	ADP
inlawrev-22390	122	213	non	non	NOUN
inlawrev-22390	122	214	-	-	NOUN
inlawrev-22390	122	215	profits	profit	NOUN
inlawrev-22390	122	216	or	or	CCONJ
inlawrev-22390	122	217	individuals	individual	NOUN
inlawrev-22390	122	218	raising	raise	VERB
inlawrev-22390	122	219	money	money	NOUN
inlawrev-22390	122	220	for	for	ADP
inlawrev-22390	122	221	a	a	DET
inlawrev-22390	122	222	specific	specific	ADJ
inlawrev-22390	122	223	cause.40	cause.40	NOUN
inlawrev-22390	122	224	pre	pre	NOUN
inlawrev-22390	122	225	-	-	NOUN
inlawrev-22390	122	226	purchase	purchase	NOUN
inlawrev-22390	122	227	refers	refer	VERB
inlawrev-22390	122	228	to	to	ADP
inlawrev-22390	122	229	campaigns	campaign	NOUN
inlawrev-22390	122	230	that	that	PRON
inlawrev-22390	122	231	offer	offer	VERB
inlawrev-22390	122	232	investors	investor	NOUN
inlawrev-22390	122	233	the	the	DET
inlawrev-22390	122	234	opportunity	opportunity	NOUN
inlawrev-22390	122	235	to	to	PART
inlawrev-22390	122	236	receive	receive	VERB
inlawrev-22390	122	237	a	a	DET
inlawrev-22390	122	238	new	new	ADJ
inlawrev-22390	122	239	product	product	NOUN
inlawrev-22390	122	240	that	that	PRON
inlawrev-22390	122	241	is	be	AUX
inlawrev-22390	122	242	funded	fund	VERB
inlawrev-22390	122	243	by	by	ADP
inlawrev-22390	122	244	the	the	DET
inlawrev-22390	122	245	contributions	contribution	NOUN
inlawrev-22390	122	246	of	of	ADP
inlawrev-22390	122	247	participants.41	participants.41	NOUN
inlawrev-22390	122	248	rewards	reward	VERB
inlawrev-22390	122	249	based	base	VERB
inlawrev-22390	122	250	campaigns	campaign	NOUN
inlawrev-22390	122	251	offer	offer	VERB
inlawrev-22390	122	252	investors	investor	NOUN
inlawrev-22390	122	253	a	a	DET
inlawrev-22390	122	254	tangible	tangible	ADJ
inlawrev-22390	122	255	reward	reward	NOUN
inlawrev-22390	122	256	for	for	ADP
inlawrev-22390	122	257	their	their	PRON
inlawrev-22390	122	258	contribution	contribution	NOUN
inlawrev-22390	122	259	such	such	ADJ
inlawrev-22390	122	260	as	as	ADP
inlawrev-22390	122	261	a	a	DET
inlawrev-22390	122	262	t	t	NOUN
inlawrev-22390	122	263	-	-	PUNCT
inlawrev-22390	122	264	shirt.42	shirt.42	PROPN
inlawrev-22390	122	265	contributors	contributor	NOUN
inlawrev-22390	122	266	to	to	ADP
inlawrev-22390	122	267	these	these	DET
inlawrev-22390	122	268	three	three	NUM
inlawrev-22390	122	269	types	type	NOUN
inlawrev-22390	122	270	of	of	ADP
inlawrev-22390	122	271	campaigns	campaign	NOUN
inlawrev-22390	122	272	do	do	AUX
inlawrev-22390	122	273	not	not	PART
inlawrev-22390	122	274	expect	expect	VERB
inlawrev-22390	122	275	33	33	NUM
inlawrev-22390	122	276	.	.	PUNCT
inlawrev-22390	123	1	wil	wil	PROPN
inlawrev-22390	123	2	schroter	schroter	PROPN
inlawrev-22390	123	3	,	,	PUNCT
inlawrev-22390	123	4	the	the	DET
inlawrev-22390	123	5	politics	politic	NOUN
inlawrev-22390	123	6	of	of	ADP
inlawrev-22390	123	7	crowdfunding	crowdfunding	NOUN
inlawrev-22390	123	8	,	,	PUNCT
inlawrev-22390	123	9	forbes	forbes	X
inlawrev-22390	123	10	(	(	PUNCT
inlawrev-22390	123	11	may	may	PROPN
inlawrev-22390	123	12	13	13	NUM
inlawrev-22390	123	13	,	,	PUNCT
inlawrev-22390	123	14	2014	2014	NUM
inlawrev-22390	123	15	,	,	PUNCT
inlawrev-22390	123	16	10:02	10:02	NUM
inlawrev-22390	123	17	am	am	NOUN
inlawrev-22390	123	18	)	)	PUNCT
inlawrev-22390	123	19	,	,	PUNCT
inlawrev-22390	123	20	https://www.forbes.com/sites/wilschroter/2014/05/13/the-politics-of-crowdfunding/#4a7b5caf4961	https://www.forbes.com/sites/wilschroter/2014/05/13/the-politics-of-crowdfunding/#4a7b5caf4961	PROPN
inlawrev-22390	124	1	[	[	X
inlawrev-22390	124	2	https://perma.cc/jq7h-m4r4	https://perma.cc/jq7h-m4r4	X
inlawrev-22390	124	3	]	]	X
inlawrev-22390	124	4	(	(	PUNCT
inlawrev-22390	124	5	noting	note	VERB
inlawrev-22390	124	6	the	the	DET
inlawrev-22390	124	7	first	first	ADJ
inlawrev-22390	124	8	recorded	record	VERB
inlawrev-22390	124	9	use	use	NOUN
inlawrev-22390	124	10	of	of	ADP
inlawrev-22390	124	11	the	the	DET
inlawrev-22390	124	12	word	word	NOUN
inlawrev-22390	124	13	was	be	AUX
inlawrev-22390	124	14	in	in	ADP
inlawrev-22390	124	15	2006	2006	NUM
inlawrev-22390	124	16	)	)	PUNCT
inlawrev-22390	124	17	.	.	PUNCT
inlawrev-22390	125	1	34	34	NUM
inlawrev-22390	125	2	.	.	PUNCT
inlawrev-22390	125	3	jake	jake	PROPN
inlawrev-22390	125	4	hobbs	hobbs	PROPN
inlawrev-22390	125	5	et	et	PROPN
inlawrev-22390	125	6	al	al	PROPN
inlawrev-22390	125	7	.	.	PROPN
inlawrev-22390	125	8	,	,	PUNCT
inlawrev-22390	125	9	success	success	NOUN
inlawrev-22390	125	10	in	in	ADP
inlawrev-22390	125	11	the	the	DET
inlawrev-22390	125	12	management	management	NOUN
inlawrev-22390	125	13	of	of	ADP
inlawrev-22390	125	14	crowdfunding	crowdfunding	NOUN
inlawrev-22390	125	15	projects	project	NOUN
inlawrev-22390	125	16	in	in	ADP
inlawrev-22390	125	17	the	the	DET
inlawrev-22390	125	18	creative	creative	ADJ
inlawrev-22390	125	19	industries	industry	NOUN
inlawrev-22390	125	20	,	,	PUNCT
inlawrev-22390	125	21	26	26	NUM
inlawrev-22390	125	22	internet	internet	NOUN
inlawrev-22390	125	23	res	re	NOUN
inlawrev-22390	125	24	.	.	PUNCT
inlawrev-22390	125	25	146	146	NUM
inlawrev-22390	125	26	,	,	PUNCT
inlawrev-22390	125	27	147	147	NUM
inlawrev-22390	125	28	(	(	PUNCT
inlawrev-22390	125	29	2016	2016	NUM
inlawrev-22390	125	30	)	)	PUNCT
inlawrev-22390	125	31	.	.	PUNCT
inlawrev-22390	126	1	35	35	NUM
inlawrev-22390	126	2	.	.	PUNCT
inlawrev-22390	126	3	aidan	aidan	PROPN
inlawrev-22390	126	4	hollis	hollis	PROPN
inlawrev-22390	126	5	&	&	CCONJ
inlawrev-22390	126	6	arthur	arthur	PROPN
inlawrev-22390	126	7	sweetman	sweetman	PROPN
inlawrev-22390	126	8	,	,	PUNCT
inlawrev-22390	126	9	microcredit	microcredit	PROPN
inlawrev-22390	126	10	in	in	ADP
inlawrev-22390	126	11	prefamine	prefamine	PROPN
inlawrev-22390	126	12	ireland	ireland	PROPN
inlawrev-22390	126	13	,	,	PUNCT
inlawrev-22390	126	14	35	35	NUM
inlawrev-22390	126	15	explorations	exploration	NOUN
inlawrev-22390	126	16	econ	econ	X
inlawrev-22390	126	17	.	.	PUNCT
inlawrev-22390	127	1	hist	hist	PROPN
inlawrev-22390	127	2	.	.	PROPN
inlawrev-22390	127	3	,	,	PUNCT
inlawrev-22390	127	4	347	347	NUM
inlawrev-22390	127	5	,	,	PUNCT
inlawrev-22390	127	6	347	347	NUM
inlawrev-22390	127	7	-	-	SYM
inlawrev-22390	127	8	49	49	NUM
inlawrev-22390	127	9	,	,	PUNCT
inlawrev-22390	127	10	352	352	NUM
inlawrev-22390	127	11	-	-	SYM
inlawrev-22390	127	12	53	53	NUM
inlawrev-22390	127	13	(	(	PUNCT
inlawrev-22390	127	14	1998	1998	NUM
inlawrev-22390	127	15	)	)	PUNCT
inlawrev-22390	127	16	.	.	PUNCT
inlawrev-22390	128	1	36	36	NUM
inlawrev-22390	128	2	.	.	PUNCT
inlawrev-22390	128	3	chris	chris	PROPN
inlawrev-22390	128	4	gaylord	gaylord	PROPN
inlawrev-22390	128	5	,	,	PUNCT
inlawrev-22390	128	6	how	how	SCONJ
inlawrev-22390	128	7	crowdfunding	crowdfunding	NOUN
inlawrev-22390	128	8	brought	bring	VERB
inlawrev-22390	128	9	the	the	DET
inlawrev-22390	128	10	statue	statue	NOUN
inlawrev-22390	128	11	of	of	ADP
inlawrev-22390	128	12	liberty	liberty	NOUN
inlawrev-22390	128	13	to	to	ADP
inlawrev-22390	128	14	america	america	PROPN
inlawrev-22390	128	15	,	,	PUNCT
inlawrev-22390	128	16	christian	christian	PROPN
inlawrev-22390	128	17	sci	sci	PROPN
inlawrev-22390	128	18	.	.	PROPN
inlawrev-22390	128	19	monitor	monitor	PROPN
inlawrev-22390	128	20	,	,	PUNCT
inlawrev-22390	128	21	(	(	PUNCT
inlawrev-22390	128	22	june	june	PROPN
inlawrev-22390	128	23	17	17	NUM
inlawrev-22390	128	24	,	,	PUNCT
inlawrev-22390	128	25	2015	2015	NUM
inlawrev-22390	128	26	)	)	PUNCT
inlawrev-22390	128	27	,	,	PUNCT
inlawrev-22390	128	28	http://www.csmonitor.com/technology/2015/0617/howcrowdfunding-brought-the-statue-of-liberty-to-america	http://www.csmonitor.com/technology/2015/0617/howcrowdfunding-brought-the-statue-of-liberty-to-america	PROPN
inlawrev-22390	129	1	[	[	X
inlawrev-22390	129	2	https://perma.cc/s2ps-s2z2	https://perma.cc/s2ps-s2z2	X
inlawrev-22390	129	3	]	]	X
inlawrev-22390	129	4	.	.	PUNCT
inlawrev-22390	130	1	37	37	NUM
inlawrev-22390	130	2	.	.	PUNCT
inlawrev-22390	131	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	131	2	,	,	PUNCT
inlawrev-22390	131	3	oxforddictionaries.com	oxforddictionaries.com	X
inlawrev-22390	131	4	,	,	PUNCT
inlawrev-22390	131	5	https://en.oxforddictionaries.com/definition/	https://en.oxforddictionaries.com/definition/	PROPN
inlawrev-22390	131	6	crowdfunding	crowdfunding	NOUN
inlawrev-22390	131	7	[	[	X
inlawrev-22390	131	8	https://perma.cc/v4wd-advp	https://perma.cc/v4wd-advp	X
inlawrev-22390	131	9	]	]	X
inlawrev-22390	131	10	(	(	PUNCT
inlawrev-22390	131	11	last	last	ADV
inlawrev-22390	131	12	visited	visit	VERB
inlawrev-22390	131	13	dec	dec	PROPN
inlawrev-22390	131	14	.	.	PROPN
inlawrev-22390	131	15	3	3	NUM
inlawrev-22390	131	16	,	,	PUNCT
inlawrev-22390	131	17	2017	2017	NUM
inlawrev-22390	131	18	)	)	PUNCT
inlawrev-22390	131	19	.	.	PUNCT
inlawrev-22390	132	1	38	38	NUM
inlawrev-22390	132	2	.	.	PUNCT
inlawrev-22390	132	3	jason	jason	PROPN
inlawrev-22390	132	4	krause	krause	PROPN
inlawrev-22390	132	5	,	,	PUNCT
inlawrev-22390	132	6	crowdfunding	crowdfunding	NOUN
inlawrev-22390	132	7	can	can	AUX
inlawrev-22390	132	8	be	be	AUX
inlawrev-22390	132	9	a	a	DET
inlawrev-22390	132	10	great	great	ADJ
inlawrev-22390	132	11	way	way	NOUN
inlawrev-22390	132	12	to	to	PART
inlawrev-22390	132	13	finance	finance	VERB
inlawrev-22390	132	14	your	your	PRON
inlawrev-22390	132	15	case	case	NOUN
inlawrev-22390	132	16	—	—	PUNCT
inlawrev-22390	132	17	or	or	CCONJ
inlawrev-22390	132	18	destroy	destroy	VERB
inlawrev-22390	132	19	it	it	PRON
inlawrev-22390	132	20	,	,	PUNCT
inlawrev-22390	132	21	101	101	NUM
inlawrev-22390	132	22	a.b.a	a.b.a	NOUN
inlawrev-22390	132	23	.	.	PUNCT
inlawrev-22390	132	24	j.	j.	PROPN
inlawrev-22390	132	25	32	32	PROPN
inlawrev-22390	132	26	,	,	PUNCT
inlawrev-22390	132	27	32	32	NUM
inlawrev-22390	132	28	(	(	PUNCT
inlawrev-22390	132	29	sept	sept	PROPN
inlawrev-22390	132	30	.	.	PROPN
inlawrev-22390	132	31	2015	2015	NUM
inlawrev-22390	132	32	)	)	PUNCT
inlawrev-22390	132	33	.	.	PUNCT
inlawrev-22390	133	1	39	39	NUM
inlawrev-22390	133	2	.	.	PUNCT
inlawrev-22390	134	1	wroldsen	wroldsen	PROPN
inlawrev-22390	134	2	,	,	PUNCT
inlawrev-22390	134	3	supra	supra	PROPN
inlawrev-22390	134	4	note	note	NOUN
inlawrev-22390	134	5	1	1	NUM
inlawrev-22390	134	6	,	,	PUNCT
inlawrev-22390	134	7	at	at	ADP
inlawrev-22390	134	8	588	588	NUM
inlawrev-22390	134	9	.	.	NUM
inlawrev-22390	134	10	40	40	NUM
inlawrev-22390	134	11	.	.	PUNCT
inlawrev-22390	135	1	jason	jason	PROPN
inlawrev-22390	135	2	futko	futko	PROPN
inlawrev-22390	135	3	,	,	PUNCT
inlawrev-22390	135	4	equity	equity	NOUN
inlawrev-22390	135	5	vs.	vs.	ADP
inlawrev-22390	135	6	debt	debt	NOUN
inlawrev-22390	135	7	crowdfunding	crowdfunding	NOUN
inlawrev-22390	135	8	,	,	PUNCT
inlawrev-22390	135	9	crowdfund	crowdfund	ADJ
inlawrev-22390	135	10	insider	insider	NOUN
inlawrev-22390	135	11	(	(	PUNCT
inlawrev-22390	135	12	sept	sept	PROPN
inlawrev-22390	135	13	.	.	PROPN
inlawrev-22390	135	14	24	24	NUM
inlawrev-22390	135	15	,	,	PUNCT
inlawrev-22390	135	16	2014	2014	NUM
inlawrev-22390	135	17	,	,	PUNCT
inlawrev-22390	135	18	9:49	9:49	NUM
inlawrev-22390	135	19	am	am	NOUN
inlawrev-22390	135	20	)	)	PUNCT
inlawrev-22390	135	21	,	,	PUNCT
inlawrev-22390	135	22	http://www.crowdfundinsider.com	http://www.crowdfundinsider.com	X
inlawrev-22390	135	23	/2	/2	PROPN
inlawrev-22390	135	24	0	0	NUM
inlawrev-22390	135	25	1	1	NUM
inlawrev-22390	135	26	4	4	NUM
inlawrev-22390	135	27	/09/50628	/09/50628	NOUN
inlawrev-22390	135	28	-	-	PUNCT
inlawrev-22390	135	29	equity	equity	NOUN
inlawrev-22390	135	30	-	-	PUNCT
inlawrev-22390	135	31	vs	vs	ADP
inlawrev-22390	135	32	-	-	PUNCT
inlawrev-22390	135	33	debt	debt	NOUN
inlawrev-22390	135	34	-	-	PUNCT
inlawrev-22390	135	35	crowdfunding	crowdfunding	NOUN
inlawrev-22390	135	36	[	[	X
inlawrev-22390	135	37	https://perma.cc/qq3c-egb3	https://perma.cc/qq3c-egb3	NOUN
inlawrev-22390	135	38	]	]	X
inlawrev-22390	135	39	.	.	PUNCT
inlawrev-22390	136	1	41	41	NUM
inlawrev-22390	136	2	.	.	PUNCT
inlawrev-22390	137	1	wroldsen	wroldsen	PROPN
inlawrev-22390	137	2	,	,	PUNCT
inlawrev-22390	137	3	supra	supra	PROPN
inlawrev-22390	137	4	note	note	NOUN
inlawrev-22390	137	5	1	1	NUM
inlawrev-22390	137	6	,	,	PUNCT
inlawrev-22390	137	7	at	at	ADP
inlawrev-22390	137	8	588	588	NUM
inlawrev-22390	137	9	.	.	X
inlawrev-22390	137	10	42	42	NUM
inlawrev-22390	137	11	.	.	PUNCT
inlawrev-22390	138	1	i	i	PRON
inlawrev-22390	138	2	d.	d.	PROPN
inlawrev-22390	138	3	https://doi.org/10.1108/intr-08-2014-0202	https://doi.org/10.1108/intr-08-2014-0202	PROPN
inlawrev-22390	138	4	https://doi.org/10.1006/exeh.1998.0702	https://doi.org/10.1006/exeh.1998.0702	PROPN
inlawrev-22390	138	5	282	282	NUM
inlawrev-22390	138	6	indiana	indiana	PROPN
inlawrev-22390	138	7	law	law	PROPN
inlawrev-22390	138	8	review	review	NOUN
inlawrev-22390	139	1	[	[	X
inlawrev-22390	139	2	vol	vol	NOUN
inlawrev-22390	139	3	.	.	PUNCT
inlawrev-22390	139	4	51:277	51:277	NUM
inlawrev-22390	139	5	or	or	CCONJ
inlawrev-22390	139	6	receive	receive	VERB
inlawrev-22390	139	7	any	any	DET
inlawrev-22390	139	8	profit	profit	NOUN
inlawrev-22390	139	9	from	from	ADP
inlawrev-22390	139	10	their	their	PRON
inlawrev-22390	139	11	investment.43	investment.43	NOUN
inlawrev-22390	139	12	therefore	therefore	ADV
inlawrev-22390	139	13	,	,	PUNCT
inlawrev-22390	139	14	crowdfunding	crowdfunde	VERB
inlawrev-22390	139	15	campaigns	campaign	NOUN
inlawrev-22390	139	16	operating	operate	VERB
inlawrev-22390	139	17	under	under	ADP
inlawrev-22390	139	18	these	these	DET
inlawrev-22390	139	19	three	three	NUM
inlawrev-22390	139	20	models	model	NOUN
inlawrev-22390	139	21	have	have	AUX
inlawrev-22390	139	22	not	not	PART
inlawrev-22390	139	23	been	be	AUX
inlawrev-22390	139	24	subject	subject	ADJ
inlawrev-22390	139	25	to	to	ADP
inlawrev-22390	139	26	regulation	regulation	NOUN
inlawrev-22390	139	27	as	as	ADP
inlawrev-22390	139	28	securities	security	NOUN
inlawrev-22390	139	29	transactions.44	transactions.44	NOUN
inlawrev-22390	139	30	equity	equity	NOUN
inlawrev-22390	139	31	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	32	allows	allow	VERB
inlawrev-22390	139	33	users	user	NOUN
inlawrev-22390	139	34	to	to	PART
inlawrev-22390	139	35	invest	invest	VERB
inlawrev-22390	139	36	in	in	ADP
inlawrev-22390	139	37	companies	company	NOUN
inlawrev-22390	139	38	by	by	ADP
inlawrev-22390	139	39	purchasing	purchase	VERB
inlawrev-22390	139	40	stocks	stock	NOUN
inlawrev-22390	139	41	through	through	ADP
inlawrev-22390	139	42	regulated	regulated	ADJ
inlawrev-22390	139	43	securities	security	NOUN
inlawrev-22390	139	44	transactions.45	transactions.45	NOUN
inlawrev-22390	139	45	equity	equity	NOUN
inlawrev-22390	139	46	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	47	was	be	AUX
inlawrev-22390	139	48	slower	slow	ADJ
inlawrev-22390	139	49	to	to	PART
inlawrev-22390	139	50	develop	develop	VERB
inlawrev-22390	139	51	in	in	ADP
inlawrev-22390	139	52	the	the	DET
inlawrev-22390	139	53	united	united	PROPN
inlawrev-22390	139	54	states	states	PROPN
inlawrev-22390	139	55	because	because	SCONJ
inlawrev-22390	139	56	a	a	DET
inlawrev-22390	139	57	legal	legal	ADJ
inlawrev-22390	139	58	mechanism	mechanism	NOUN
inlawrev-22390	139	59	needed	need	VERB
inlawrev-22390	139	60	to	to	PART
inlawrev-22390	139	61	be	be	AUX
inlawrev-22390	139	62	in	in	ADP
inlawrev-22390	139	63	place	place	NOUN
inlawrev-22390	139	64	to	to	PART
inlawrev-22390	139	65	allow	allow	VERB
inlawrev-22390	139	66	companies	company	NOUN
inlawrev-22390	139	67	to	to	PART
inlawrev-22390	139	68	sell	sell	VERB
inlawrev-22390	139	69	ownership	ownership	NOUN
inlawrev-22390	139	70	interests	interest	NOUN
inlawrev-22390	139	71	in	in	ADP
inlawrev-22390	139	72	this	this	DET
inlawrev-22390	139	73	manner.46	manner.46	NOUN
inlawrev-22390	139	74	all	all	DET
inlawrev-22390	139	75	securities	security	NOUN
inlawrev-22390	139	76	transactions	transaction	NOUN
inlawrev-22390	139	77	in	in	ADP
inlawrev-22390	139	78	the	the	DET
inlawrev-22390	139	79	united	united	PROPN
inlawrev-22390	139	80	states	states	PROPN
inlawrev-22390	139	81	must	must	AUX
inlawrev-22390	139	82	be	be	AUX
inlawrev-22390	139	83	registered	register	VERB
inlawrev-22390	139	84	with	with	ADP
inlawrev-22390	139	85	the	the	DET
inlawrev-22390	139	86	sec	sec	PROPN
inlawrev-22390	139	87	or	or	CCONJ
inlawrev-22390	139	88	fit	fit	ADJ
inlawrev-22390	139	89	within	within	ADP
inlawrev-22390	139	90	a	a	DET
inlawrev-22390	139	91	statutory	statutory	ADJ
inlawrev-22390	139	92	exemption.47	exemption.47	NOUN
inlawrev-22390	139	93	thus	thus	ADV
inlawrev-22390	139	94	,	,	PUNCT
inlawrev-22390	139	95	equity	equity	NOUN
inlawrev-22390	139	96	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	97	was	be	AUX
inlawrev-22390	139	98	not	not	PART
inlawrev-22390	139	99	legal	legal	ADJ
inlawrev-22390	139	100	in	in	ADP
inlawrev-22390	139	101	the	the	DET
inlawrev-22390	139	102	united	united	PROPN
inlawrev-22390	139	103	states	states	PROPN
inlawrev-22390	139	104	,	,	PUNCT
inlawrev-22390	139	105	at	at	ADP
inlawrev-22390	139	106	least	least	ADJ
inlawrev-22390	139	107	in	in	ADP
inlawrev-22390	139	108	interstate	interstate	ADJ
inlawrev-22390	139	109	securities	security	NOUN
inlawrev-22390	139	110	transactions	transaction	NOUN
inlawrev-22390	139	111	,	,	PUNCT
inlawrev-22390	139	112	until	until	ADP
inlawrev-22390	139	113	the	the	DET
inlawrev-22390	139	114	passage	passage	NOUN
inlawrev-22390	139	115	of	of	ADP
inlawrev-22390	139	116	the	the	DET
inlawrev-22390	139	117	jobs	job	NOUN
inlawrev-22390	139	118	act.48	act.48	ADJ
inlawrev-22390	139	119	debt	debt	NOUN
inlawrev-22390	139	120	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	121	is	be	AUX
inlawrev-22390	139	122	like	like	ADP
inlawrev-22390	139	123	equity	equity	NOUN
inlawrev-22390	139	124	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	125	but	but	CCONJ
inlawrev-22390	139	126	allows	allow	VERB
inlawrev-22390	139	127	users	user	NOUN
inlawrev-22390	139	128	to	to	PART
inlawrev-22390	139	129	buy	buy	VERB
inlawrev-22390	139	130	debt	debt	NOUN
inlawrev-22390	139	131	,	,	PUNCT
inlawrev-22390	139	132	such	such	ADJ
inlawrev-22390	139	133	as	as	ADP
inlawrev-22390	139	134	a	a	DET
inlawrev-22390	139	135	bond	bond	NOUN
inlawrev-22390	139	136	,	,	PUNCT
inlawrev-22390	139	137	issued	issue	VERB
inlawrev-22390	139	138	by	by	ADP
inlawrev-22390	139	139	the	the	DET
inlawrev-22390	139	140	offering	offering	NOUN
inlawrev-22390	139	141	company.49	company.49	NOUN
inlawrev-22390	139	142	debt	debt	NOUN
inlawrev-22390	139	143	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	144	differs	differ	VERB
inlawrev-22390	139	145	from	from	ADP
inlawrev-22390	139	146	equity	equity	NOUN
inlawrev-22390	139	147	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	148	in	in	SCONJ
inlawrev-22390	139	149	that	that	SCONJ
inlawrev-22390	139	150	it	it	PRON
inlawrev-22390	139	151	can	can	AUX
inlawrev-22390	139	152	be	be	AUX
inlawrev-22390	139	153	structured	structure	VERB
inlawrev-22390	139	154	as	as	ADP
inlawrev-22390	139	155	either	either	CCONJ
inlawrev-22390	139	156	a	a	DET
inlawrev-22390	139	157	securities	security	NOUN
inlawrev-22390	139	158	transaction	transaction	NOUN
inlawrev-22390	139	159	or	or	CCONJ
inlawrev-22390	139	160	an	an	DET
inlawrev-22390	139	161	unregulated	unregulated	ADJ
inlawrev-22390	139	162	transaction.50	transaction.50	NOUN
inlawrev-22390	139	163	for	for	ADP
inlawrev-22390	139	164	example	example	NOUN
inlawrev-22390	139	165	,	,	PUNCT
inlawrev-22390	139	166	if	if	SCONJ
inlawrev-22390	139	167	the	the	DET
inlawrev-22390	139	168	company	company	NOUN
inlawrev-22390	139	169	sells	sell	VERB
inlawrev-22390	139	170	a	a	DET
inlawrev-22390	139	171	bond	bond	NOUN
inlawrev-22390	139	172	that	that	PRON
inlawrev-22390	139	173	will	will	AUX
inlawrev-22390	139	174	be	be	AUX
inlawrev-22390	139	175	paid	pay	VERB
inlawrev-22390	139	176	back	back	ADV
inlawrev-22390	139	177	with	with	ADP
inlawrev-22390	139	178	interest	interest	NOUN
inlawrev-22390	139	179	,	,	PUNCT
inlawrev-22390	139	180	it	it	PRON
inlawrev-22390	139	181	is	be	AUX
inlawrev-22390	139	182	considered	consider	VERB
inlawrev-22390	139	183	a	a	DET
inlawrev-22390	139	184	securities	security	NOUN
inlawrev-22390	139	185	transaction	transaction	NOUN
inlawrev-22390	139	186	because	because	SCONJ
inlawrev-22390	139	187	the	the	DET
inlawrev-22390	139	188	investor	investor	NOUN
inlawrev-22390	139	189	expects	expect	VERB
inlawrev-22390	139	190	to	to	PART
inlawrev-22390	139	191	profit	profit	VERB
inlawrev-22390	139	192	from	from	ADP
inlawrev-22390	139	193	the	the	DET
inlawrev-22390	139	194	investment.51	investment.51	NOUN
inlawrev-22390	139	195	conversely	conversely	ADV
inlawrev-22390	139	196	,	,	PUNCT
inlawrev-22390	139	197	some	some	DET
inlawrev-22390	139	198	websites	website	NOUN
inlawrev-22390	139	199	have	have	AUX
inlawrev-22390	139	200	created	create	VERB
inlawrev-22390	139	201	a	a	DET
inlawrev-22390	139	202	market	market	NOUN
inlawrev-22390	139	203	for	for	ADP
inlawrev-22390	139	204	crowdfunded	crowdfunde	VERB
inlawrev-22390	139	205	microloans	microloan	NOUN
inlawrev-22390	139	206	that	that	PRON
inlawrev-22390	139	207	do	do	AUX
inlawrev-22390	139	208	not	not	PART
inlawrev-22390	139	209	generate	generate	VERB
inlawrev-22390	139	210	interest	interest	NOUN
inlawrev-22390	139	211	for	for	ADP
inlawrev-22390	139	212	the	the	DET
inlawrev-22390	139	213	website	website	NOUN
inlawrev-22390	139	214	or	or	CCONJ
inlawrev-22390	139	215	the	the	DET
inlawrev-22390	139	216	funders	funder	NOUN
inlawrev-22390	139	217	and	and	CCONJ
inlawrev-22390	139	218	are	be	AUX
inlawrev-22390	139	219	therefore	therefore	ADV
inlawrev-22390	139	220	not	not	PART
inlawrev-22390	139	221	considered	consider	VERB
inlawrev-22390	139	222	securities.52	securities.52	NOUN
inlawrev-22390	139	223	across	across	ADP
inlawrev-22390	139	224	all	all	DET
inlawrev-22390	139	225	types	type	NOUN
inlawrev-22390	139	226	of	of	ADP
inlawrev-22390	139	227	crowdfunding	crowdfunde	VERB
inlawrev-22390	139	228	worldwide	worldwide	ADV
inlawrev-22390	139	229	,	,	PUNCT
inlawrev-22390	139	230	more	more	ADJ
inlawrev-22390	139	231	than	than	ADP
inlawrev-22390	139	232	$	$	SYM
inlawrev-22390	139	233	16	16	NUM
inlawrev-22390	139	234	billion	billion	NUM
inlawrev-22390	139	235	was	be	AUX
inlawrev-22390	139	236	funded	fund	VERB
inlawrev-22390	139	237	in	in	ADP
inlawrev-22390	139	238	2014.53	2014.53	NUM
inlawrev-22390	139	239	equity	equity	NOUN
inlawrev-22390	139	240	based	base	VERB
inlawrev-22390	139	241	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	242	grew	grow	VERB
inlawrev-22390	139	243	worldwide	worldwide	ADV
inlawrev-22390	139	244	by	by	ADP
inlawrev-22390	139	245	more	more	ADJ
inlawrev-22390	139	246	than	than	ADP
inlawrev-22390	139	247	180	180	NUM
inlawrev-22390	139	248	%	%	NOUN
inlawrev-22390	139	249	in	in	ADP
inlawrev-22390	139	250	2014,54	2014,54	NUM
inlawrev-22390	139	251	and	and	CCONJ
inlawrev-22390	139	252	if	if	SCONJ
inlawrev-22390	139	253	equity	equity	NOUN
inlawrev-22390	139	254	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	255	follows	follow	VERB
inlawrev-22390	139	256	the	the	DET
inlawrev-22390	139	257	growth	growth	NOUN
inlawrev-22390	139	258	patterns	pattern	NOUN
inlawrev-22390	139	259	of	of	ADP
inlawrev-22390	139	260	other	other	ADJ
inlawrev-22390	139	261	types	type	NOUN
inlawrev-22390	139	262	of	of	ADP
inlawrev-22390	139	263	crowdfunding	crowdfunding	NOUN
inlawrev-22390	139	264	,	,	PUNCT
inlawrev-22390	139	265	it	it	PRON
inlawrev-22390	139	266	could	could	AUX
inlawrev-22390	139	267	become	become	VERB
inlawrev-22390	139	268	a	a	DET
inlawrev-22390	139	269	$	$	SYM
inlawrev-22390	139	270	36	36	NUM
inlawrev-22390	139	271	billion	billion	NUM
inlawrev-22390	139	272	industry	industry	NOUN
inlawrev-22390	139	273	by	by	ADP
inlawrev-22390	139	274	2020.55	2020.55	NUM
inlawrev-22390	139	275	43	43	NUM
inlawrev-22390	139	276	.	.	PUNCT
inlawrev-22390	140	1	i	i	PRON
inlawrev-22390	140	2	d.	d.	PROPN
inlawrev-22390	140	3	44	44	NUM
inlawrev-22390	140	4	.	.	PUNCT
inlawrev-22390	141	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	141	2	,	,	PUNCT
inlawrev-22390	141	3	80	80	NUM
inlawrev-22390	141	4	fed	feed	VERB
inlawrev-22390	141	5	.	.	PUNCT
inlawrev-22390	142	1	reg	reg	PROPN
inlawrev-22390	142	2	.	.	PUNCT
inlawrev-22390	143	1	71,388	71,388	NUM
inlawrev-22390	143	2	,	,	PUNCT
inlawrev-22390	143	3	71,389	71,389	NUM
inlawrev-22390	143	4	(	(	PUNCT
inlawrev-22390	143	5	nov	nov	PROPN
inlawrev-22390	143	6	.	.	PROPN
inlawrev-22390	143	7	16	16	NUM
inlawrev-22390	143	8	,	,	PUNCT
inlawrev-22390	143	9	2015	2015	NUM
inlawrev-22390	143	10	)	)	PUNCT
inlawrev-22390	143	11	.	.	PUNCT
inlawrev-22390	144	1	45	45	NUM
inlawrev-22390	144	2	.	.	PUNCT
inlawrev-22390	144	3	rob	rob	PROPN
inlawrev-22390	144	4	marvin	marvin	PROPN
inlawrev-22390	144	5	,	,	PUNCT
inlawrev-22390	144	6	are	be	AUX
inlawrev-22390	144	7	you	you	PRON
inlawrev-22390	144	8	ready	ready	ADJ
inlawrev-22390	144	9	for	for	ADP
inlawrev-22390	144	10	the	the	DET
inlawrev-22390	144	11	next	next	ADJ
inlawrev-22390	144	12	age	age	NOUN
inlawrev-22390	144	13	of	of	ADP
inlawrev-22390	144	14	crowdfunding	crowdfunde	VERB
inlawrev-22390	144	15	?	?	PUNCT
inlawrev-22390	144	16	,	,	PUNCT
inlawrev-22390	144	17	pc	pc	NOUN
inlawrev-22390	144	18	mag	mag	NOUN
inlawrev-22390	144	19	.	.	PUNCT
inlawrev-22390	145	1	(	(	PUNCT
inlawrev-22390	145	2	may	may	PROPN
inlawrev-22390	145	3	19	19	NUM
inlawrev-22390	145	4	,	,	PUNCT
inlawrev-22390	145	5	2016	2016	NUM
inlawrev-22390	145	6	,	,	PUNCT
inlawrev-22390	145	7	7:00	7:00	NUM
inlawrev-22390	145	8	am	am	NOUN
inlawrev-22390	145	9	)	)	PUNCT
inlawrev-22390	145	10	,	,	PUNCT
inlawrev-22390	145	11	http://www.pcmag.com/article/344545/are-you-ready-for-the-next-age-ofcrowdfunding	http://www.pcmag.com/article/344545/are-you-ready-for-the-next-age-ofcrowdfunde	VERB
inlawrev-22390	146	1	[	[	X
inlawrev-22390	146	2	https://perma.cc/d2bh-lheh	https://perma.cc/d2bh-lheh	ADJ
inlawrev-22390	146	3	]	]	X
inlawrev-22390	146	4	.	.	PUNCT
inlawrev-22390	147	1	46	46	NUM
inlawrev-22390	147	2	.	.	PUNCT
inlawrev-22390	148	1	wroldsen	wroldsen	PROPN
inlawrev-22390	148	2	,	,	PUNCT
inlawrev-22390	148	3	supra	supra	PROPN
inlawrev-22390	148	4	note	note	NOUN
inlawrev-22390	148	5	1	1	NUM
inlawrev-22390	148	6	,	,	PUNCT
inlawrev-22390	148	7	at	at	ADP
inlawrev-22390	148	8	589	589	NUM
inlawrev-22390	148	9	.	.	PUNCT
inlawrev-22390	149	1	47	47	NUM
inlawrev-22390	149	2	.	.	PUNCT
inlawrev-22390	150	1	theodore	theodore	PROPN
inlawrev-22390	150	2	weitz	weitz	PROPN
inlawrev-22390	150	3	&	&	CCONJ
inlawrev-22390	150	4	thomas	thomas	PROPN
inlawrev-22390	150	5	d.	d.	PROPN
inlawrev-22390	150	6	halket	halket	PROPN
inlawrev-22390	150	7	,	,	PUNCT
inlawrev-22390	150	8	funding	funding	NOUN
inlawrev-22390	150	9	innovation	innovation	NOUN
inlawrev-22390	150	10	symposium	symposium	NOUN
inlawrev-22390	150	11	:	:	PUNCT
inlawrev-22390	150	12	state	state	NOUN
inlawrev-22390	150	13	crowdfunding	crowdfunding	NOUN
inlawrev-22390	150	14	and	and	CCONJ
inlawrev-22390	150	15	the	the	DET
inlawrev-22390	150	16	intrastate	intrastate	ADJ
inlawrev-22390	150	17	exemption	exemption	NOUN
inlawrev-22390	150	18	under	under	ADP
inlawrev-22390	150	19	federal	federal	ADJ
inlawrev-22390	150	20	securities	security	NOUN
inlawrev-22390	150	21	laws	law	NOUN
inlawrev-22390	150	22	—	—	PUNCT
inlawrev-22390	150	23	less	less	ADJ
inlawrev-22390	150	24	than	than	ADP
inlawrev-22390	150	25	meets	meet	VERB
inlawrev-22390	150	26	the	the	DET
inlawrev-22390	150	27	eye	eye	NOUN
inlawrev-22390	150	28	?	?	PUNCT
inlawrev-22390	150	29	,	,	PUNCT
inlawrev-22390	150	30	34	34	NUM
inlawrev-22390	150	31	rev	rev	X
inlawrev-22390	150	32	.	.	PROPN
inlawrev-22390	150	33	banking	banking	PROPN
inlawrev-22390	150	34	&	&	CCONJ
inlawrev-22390	150	35	fin	fin	PROPN
inlawrev-22390	150	36	.	.	PUNCT
inlawrev-22390	151	1	l.	l.	PROPN
inlawrev-22390	151	2	521	521	NUM
inlawrev-22390	151	3	,	,	PUNCT
inlawrev-22390	151	4	530	530	NUM
inlawrev-22390	151	5	(	(	PUNCT
inlawrev-22390	151	6	2015	2015	NUM
inlawrev-22390	151	7	)	)	PUNCT
inlawrev-22390	151	8	.	.	PUNCT
inlawrev-22390	152	1	48	48	NUM
inlawrev-22390	152	2	.	.	PUNCT
inlawrev-22390	153	1	i	i	PRON
inlawrev-22390	153	2	d.	d.	VERB
inlawrev-22390	153	3	at	at	ADP
inlawrev-22390	153	4	522	522	NUM
inlawrev-22390	153	5	-	-	SYM
inlawrev-22390	153	6	23	23	NUM
inlawrev-22390	153	7	.	.	PUNCT
inlawrev-22390	153	8	49	49	NUM
inlawrev-22390	153	9	.	.	PUNCT
inlawrev-22390	154	1	futko	futko	PROPN
inlawrev-22390	154	2	,	,	PUNCT
inlawrev-22390	154	3	supra	supra	PROPN
inlawrev-22390	154	4	note	note	NOUN
inlawrev-22390	154	5	40	40	NUM
inlawrev-22390	154	6	.	.	PUNCT
inlawrev-22390	155	1	50	50	NUM
inlawrev-22390	155	2	.	.	X
inlawrev-22390	156	1	wroldsen	wroldsen	PROPN
inlawrev-22390	156	2	,	,	PUNCT
inlawrev-22390	156	3	supra	supra	PROPN
inlawrev-22390	156	4	note	note	NOUN
inlawrev-22390	156	5	1	1	NUM
inlawrev-22390	156	6	,	,	PUNCT
inlawrev-22390	156	7	at	at	ADP
inlawrev-22390	156	8	589	589	NUM
inlawrev-22390	156	9	.	.	PUNCT
inlawrev-22390	157	1	51	51	NUM
inlawrev-22390	157	2	.	.	PUNCT
inlawrev-22390	158	1	i	i	PRON
inlawrev-22390	158	2	d.	d.	PROPN
inlawrev-22390	158	3	at	at	ADP
inlawrev-22390	158	4	588	588	NUM
inlawrev-22390	158	5	-	-	SYM
inlawrev-22390	158	6	89	89	NUM
inlawrev-22390	158	7	.	.	PUNCT
inlawrev-22390	158	8	52	52	NUM
inlawrev-22390	158	9	.	.	PUNCT
inlawrev-22390	159	1	see	see	VERB
inlawrev-22390	159	2	,	,	PUNCT
inlawrev-22390	159	3	e.g.	e.g.	ADV
inlawrev-22390	159	4	,	,	PUNCT
inlawrev-22390	159	5	kiva	kiva	PROPN
inlawrev-22390	159	6	,	,	PUNCT
inlawrev-22390	159	7	http://www.kiva.org/about/how	http://www.kiva.org/about/how	PROPN
inlawrev-22390	160	1	[	[	X
inlawrev-22390	160	2	https://perma.cc/z4km-cdku	https://perma.cc/z4km-cdku	X
inlawrev-22390	160	3	]	]	PUNCT
inlawrev-22390	160	4	(	(	PUNCT
inlawrev-22390	160	5	last	last	ADV
inlawrev-22390	160	6	visited	visit	VERB
inlawrev-22390	160	7	mar	mar	PROPN
inlawrev-22390	160	8	.	.	PROPN
inlawrev-22390	160	9	16	16	NUM
inlawrev-22390	160	10	,	,	PUNCT
inlawrev-22390	160	11	2017	2017	NUM
inlawrev-22390	160	12	)	)	PUNCT
inlawrev-22390	160	13	.	.	PUNCT
inlawrev-22390	161	1	53	53	NUM
inlawrev-22390	161	2	.	.	PUNCT
inlawrev-22390	162	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	162	2	,	,	PUNCT
inlawrev-22390	162	3	80	80	NUM
inlawrev-22390	162	4	fed	feed	VERB
inlawrev-22390	162	5	.	.	PUNCT
inlawrev-22390	163	1	reg	reg	PROPN
inlawrev-22390	163	2	.	.	PUNCT
inlawrev-22390	164	1	71,388	71,388	NUM
inlawrev-22390	164	2	,	,	PUNCT
inlawrev-22390	164	3	71,488	71,488	NUM
inlawrev-22390	164	4	(	(	PUNCT
inlawrev-22390	164	5	nov	nov	PROPN
inlawrev-22390	164	6	.	.	PROPN
inlawrev-22390	164	7	16	16	NUM
inlawrev-22390	164	8	,	,	PUNCT
inlawrev-22390	164	9	2015	2015	NUM
inlawrev-22390	164	10	)	)	PUNCT
inlawrev-22390	164	11	.	.	PUNCT
inlawrev-22390	165	1	54	54	NUM
inlawrev-22390	165	2	.	.	PUNCT
inlawrev-22390	166	1	i	i	PRON
inlawrev-22390	166	2	d.	d.	PROPN
inlawrev-22390	166	3	55	55	NUM
inlawrev-22390	166	4	.	.	PUNCT
inlawrev-22390	167	1	chance	chance	PROPN
inlawrev-22390	167	2	barnett	barnett	PROPN
inlawrev-22390	167	3	,	,	PUNCT
inlawrev-22390	167	4	trends	trend	NOUN
inlawrev-22390	167	5	show	show	VERB
inlawrev-22390	167	6	crowdfunding	crowdfunde	VERB
inlawrev-22390	167	7	to	to	PART
inlawrev-22390	167	8	surpass	surpass	VERB
inlawrev-22390	167	9	vc	vc	PROPN
inlawrev-22390	167	10	in	in	ADP
inlawrev-22390	167	11	2016	2016	NUM
inlawrev-22390	167	12	,	,	PUNCT
inlawrev-22390	167	13	forbes	forbes	PROPN
inlawrev-22390	167	14	(	(	PUNCT
inlawrev-22390	167	15	june	june	PROPN
inlawrev-22390	167	16	9	9	NUM
inlawrev-22390	167	17	,	,	PUNCT
inlawrev-22390	167	18	2015	2015	NUM
inlawrev-22390	167	19	,	,	PUNCT
inlawrev-22390	167	20	5:33	5:33	NUM
inlawrev-22390	167	21	pm	pm	NOUN
inlawrev-22390	167	22	)	)	PUNCT
inlawrev-22390	167	23	,	,	PUNCT
inlawrev-22390	167	24	http://www.forbes.com/sites/chancebarnett/2015/06/09/trends-showcrowdfunding-to-surpass-vc-in-2016/3/#2206f4006078	http://www.forbes.com/sites/chancebarnett/2015/06/09/trends-showcrowdfunding-to-surpass-vc-in-2016/3/#2206f4006078	VERB
inlawrev-22390	167	25	[	[	X
inlawrev-22390	167	26	https://perma.cc/93s7-r7ny	https://perma.cc/93s7-r7ny	NOUN
inlawrev-22390	167	27	]	]	PUNCT
inlawrev-22390	167	28	.	.	PUNCT
inlawrev-22390	168	1	2018	2018	NUM
inlawrev-22390	168	2	]	]	PUNCT
inlawrev-22390	168	3	false	false	ADJ
inlawrev-22390	168	4	start	start	NOUN
inlawrev-22390	168	5	:	:	PUNCT
inlawrev-22390	168	6	carving	carve	VERB
inlawrev-22390	168	7	a	a	DET
inlawrev-22390	168	8	niche	niche	NOUN
inlawrev-22390	168	9	283	283	NUM
inlawrev-22390	168	10	ii	ii	NOUN
inlawrev-22390	168	11	.	.	PUNCT
inlawrev-22390	169	1	securities	security	NOUN
inlawrev-22390	169	2	regulation	regulation	NOUN
inlawrev-22390	169	3	generally	generally	ADV
inlawrev-22390	169	4	in	in	ADP
inlawrev-22390	169	5	the	the	DET
inlawrev-22390	169	6	late	late	ADJ
inlawrev-22390	169	7	nineteenth	nineteenth	NOUN
inlawrev-22390	169	8	and	and	CCONJ
inlawrev-22390	169	9	early	early	ADJ
inlawrev-22390	169	10	twentieth	twentieth	ADJ
inlawrev-22390	169	11	century	century	NOUN
inlawrev-22390	169	12	,	,	PUNCT
inlawrev-22390	169	13	investing	invest	VERB
inlawrev-22390	169	14	by	by	ADP
inlawrev-22390	169	15	the	the	DET
inlawrev-22390	169	16	general	general	ADJ
inlawrev-22390	169	17	public	public	NOUN
inlawrev-22390	169	18	in	in	ADP
inlawrev-22390	169	19	companies	company	NOUN
inlawrev-22390	169	20	,	,	PUNCT
inlawrev-22390	169	21	particularly	particularly	ADV
inlawrev-22390	169	22	infrastructure	infrastructure	NOUN
inlawrev-22390	169	23	companies	company	NOUN
inlawrev-22390	169	24	like	like	ADP
inlawrev-22390	169	25	railroads	railroad	NOUN
inlawrev-22390	169	26	and	and	CCONJ
inlawrev-22390	169	27	oil	oil	NOUN
inlawrev-22390	169	28	,	,	PUNCT
inlawrev-22390	169	29	became	become	VERB
inlawrev-22390	169	30	popular.56	popular.56	ADJ
inlawrev-22390	169	31	beginning	begin	VERB
inlawrev-22390	169	32	in	in	ADP
inlawrev-22390	169	33	1911	1911	NUM
inlawrev-22390	169	34	,	,	PUNCT
inlawrev-22390	169	35	states	state	NOUN
inlawrev-22390	169	36	started	start	VERB
inlawrev-22390	169	37	enacting	enact	VERB
inlawrev-22390	169	38	what	what	PRON
inlawrev-22390	169	39	came	come	VERB
inlawrev-22390	169	40	to	to	PART
inlawrev-22390	169	41	be	be	AUX
inlawrev-22390	169	42	known	know	VERB
inlawrev-22390	169	43	as	as	ADP
inlawrev-22390	169	44	“	"	PUNCT
inlawrev-22390	169	45	blue	blue	ADJ
inlawrev-22390	169	46	sky	sky	NOUN
inlawrev-22390	169	47	”	"	PUNCT
inlawrev-22390	169	48	laws	law	NOUN
inlawrev-22390	169	49	that	that	PRON
inlawrev-22390	169	50	provided	provide	VERB
inlawrev-22390	169	51	regulations	regulation	NOUN
inlawrev-22390	169	52	and	and	CCONJ
inlawrev-22390	169	53	investor	investor	NOUN
inlawrev-22390	169	54	protections	protection	NOUN
inlawrev-22390	169	55	in	in	ADP
inlawrev-22390	169	56	these	these	DET
inlawrev-22390	169	57	securities	security	NOUN
inlawrev-22390	169	58	transactions.57	transactions.57	PROPN
inlawrev-22390	169	59	for	for	ADP
inlawrev-22390	169	60	almost	almost	ADV
inlawrev-22390	169	61	twenty	twenty	NUM
inlawrev-22390	169	62	years	year	NOUN
inlawrev-22390	169	63	,	,	PUNCT
inlawrev-22390	169	64	the	the	DET
inlawrev-22390	169	65	states	state	NOUN
inlawrev-22390	169	66	were	be	AUX
inlawrev-22390	169	67	largely	largely	ADV
inlawrev-22390	169	68	in	in	ADP
inlawrev-22390	169	69	charge	charge	NOUN
inlawrev-22390	169	70	of	of	ADP
inlawrev-22390	169	71	regulating	regulate	VERB
inlawrev-22390	169	72	securities	security	NOUN
inlawrev-22390	169	73	until	until	SCONJ
inlawrev-22390	169	74	two	two	NUM
inlawrev-22390	169	75	significant	significant	ADJ
inlawrev-22390	169	76	developments	development	NOUN
inlawrev-22390	169	77	in	in	ADP
inlawrev-22390	169	78	the	the	DET
inlawrev-22390	169	79	economy	economy	NOUN
inlawrev-22390	169	80	began	begin	VERB
inlawrev-22390	169	81	to	to	PART
inlawrev-22390	169	82	challenge	challenge	VERB
inlawrev-22390	169	83	this	this	DET
inlawrev-22390	169	84	arrangement.58	arrangement.58	NOUN
inlawrev-22390	169	85	as	as	SCONJ
inlawrev-22390	169	86	the	the	DET
inlawrev-22390	169	87	twentieth	twentieth	ADJ
inlawrev-22390	169	88	century	century	NOUN
inlawrev-22390	169	89	progressed	progress	VERB
inlawrev-22390	169	90	,	,	PUNCT
inlawrev-22390	169	91	interstate	interstate	ADJ
inlawrev-22390	169	92	transactions	transaction	NOUN
inlawrev-22390	169	93	were	be	AUX
inlawrev-22390	169	94	becoming	become	VERB
inlawrev-22390	169	95	more	more	ADV
inlawrev-22390	169	96	and	and	CCONJ
inlawrev-22390	169	97	more	more	ADV
inlawrev-22390	169	98	common	common	ADJ
inlawrev-22390	169	99	as	as	ADP
inlawrev-22390	169	100	businesses	business	NOUN
inlawrev-22390	169	101	,	,	PUNCT
inlawrev-22390	169	102	investors	investor	NOUN
inlawrev-22390	169	103	,	,	PUNCT
inlawrev-22390	169	104	and	and	CCONJ
inlawrev-22390	169	105	technologies	technology	NOUN
inlawrev-22390	169	106	became	become	VERB
inlawrev-22390	169	107	more	more	ADV
inlawrev-22390	169	108	sophisticated	sophisticated	ADJ
inlawrev-22390	169	109	—	—	PUNCT
inlawrev-22390	169	110	but	but	CCONJ
inlawrev-22390	169	111	the	the	DET
inlawrev-22390	169	112	jurisdiction	jurisdiction	NOUN
inlawrev-22390	169	113	of	of	ADP
inlawrev-22390	169	114	the	the	DET
inlawrev-22390	169	115	so	so	ADV
inlawrev-22390	169	116	-	-	PUNCT
inlawrev-22390	169	117	called	call	VERB
inlawrev-22390	169	118	“	"	PUNCT
inlawrev-22390	169	119	blue	blue	ADJ
inlawrev-22390	169	120	sky	sky	NOUN
inlawrev-22390	169	121	laws	law	NOUN
inlawrev-22390	169	122	”	"	PUNCT
inlawrev-22390	169	123	ended	end	VERB
inlawrev-22390	169	124	at	at	ADP
inlawrev-22390	169	125	the	the	DET
inlawrev-22390	169	126	state	state	NOUN
inlawrev-22390	169	127	line.59	line.59	VERB
inlawrev-22390	169	128	the	the	DET
inlawrev-22390	169	129	stock	stock	NOUN
inlawrev-22390	169	130	market	market	NOUN
inlawrev-22390	169	131	crash	crash	NOUN
inlawrev-22390	169	132	of	of	ADP
inlawrev-22390	169	133	1929	1929	NUM
inlawrev-22390	169	134	and	and	CCONJ
inlawrev-22390	169	135	the	the	DET
inlawrev-22390	169	136	subsequent	subsequent	ADJ
inlawrev-22390	169	137	great	great	ADJ
inlawrev-22390	169	138	depression	depression	NOUN
inlawrev-22390	169	139	helped	helped	AUX
inlawrev-22390	169	140	push	push	VERB
inlawrev-22390	169	141	the	the	DET
inlawrev-22390	169	142	federal	federal	ADJ
inlawrev-22390	169	143	government	government	NOUN
inlawrev-22390	169	144	into	into	ADP
inlawrev-22390	169	145	action.60	action.60	PROPN
inlawrev-22390	169	146	it	it	PRON
inlawrev-22390	169	147	was	be	AUX
inlawrev-22390	169	148	from	from	ADP
inlawrev-22390	169	149	this	this	DET
inlawrev-22390	169	150	climate	climate	NOUN
inlawrev-22390	169	151	that	that	PRON
inlawrev-22390	169	152	the	the	DET
inlawrev-22390	169	153	sec	sec	PROPN
inlawrev-22390	169	154	was	be	AUX
inlawrev-22390	169	155	created	create	VERB
inlawrev-22390	169	156	and	and	CCONJ
inlawrev-22390	169	157	given	give	VERB
inlawrev-22390	169	158	a	a	DET
inlawrev-22390	169	159	mandate	mandate	NOUN
inlawrev-22390	169	160	to	to	PART
inlawrev-22390	169	161	facilitate	facilitate	VERB
inlawrev-22390	169	162	growth	growth	NOUN
inlawrev-22390	169	163	while	while	SCONJ
inlawrev-22390	169	164	maintaining	maintain	VERB
inlawrev-22390	169	165	meaningful	meaningful	ADJ
inlawrev-22390	169	166	investor	investor	NOUN
inlawrev-22390	169	167	protections.61	protections.61	NOUN
inlawrev-22390	169	168	congress	congress	PROPN
inlawrev-22390	169	169	passed	pass	VERB
inlawrev-22390	169	170	two	two	NUM
inlawrev-22390	169	171	pivotal	pivotal	ADJ
inlawrev-22390	169	172	laws	law	NOUN
inlawrev-22390	169	173	in	in	ADP
inlawrev-22390	169	174	back	back	ADV
inlawrev-22390	169	175	to	to	ADP
inlawrev-22390	169	176	back	back	ADJ
inlawrev-22390	169	177	years	year	NOUN
inlawrev-22390	169	178	:	:	PUNCT
inlawrev-22390	169	179	the	the	DET
inlawrev-22390	169	180	securities	security	NOUN
inlawrev-22390	169	181	act	act	NOUN
inlawrev-22390	169	182	of	of	ADP
inlawrev-22390	169	183	193362	193362	NUM
inlawrev-22390	169	184	and	and	CCONJ
inlawrev-22390	169	185	the	the	DET
inlawrev-22390	169	186	securities	securities	PROPN
inlawrev-22390	169	187	exchange	exchange	PROPN
inlawrev-22390	169	188	act	act	NOUN
inlawrev-22390	169	189	of	of	ADP
inlawrev-22390	169	190	1934	1934	NUM
inlawrev-22390	169	191	,	,	PUNCT
inlawrev-22390	169	192	which	which	PRON
inlawrev-22390	169	193	,	,	PUNCT
inlawrev-22390	169	194	among	among	ADP
inlawrev-22390	169	195	other	other	ADJ
inlawrev-22390	169	196	things	thing	NOUN
inlawrev-22390	169	197	,	,	PUNCT
inlawrev-22390	169	198	created	create	VERB
inlawrev-22390	169	199	the	the	DET
inlawrev-22390	169	200	sec.63	sec.63	NOUN
inlawrev-22390	169	201	the	the	DET
inlawrev-22390	169	202	underlying	underlying	ADJ
inlawrev-22390	169	203	principle	principle	NOUN
inlawrev-22390	169	204	of	of	ADP
inlawrev-22390	169	205	federal	federal	ADJ
inlawrev-22390	169	206	securities	security	NOUN
inlawrev-22390	169	207	regulations	regulation	NOUN
inlawrev-22390	169	208	is	be	AUX
inlawrev-22390	169	209	that	that	SCONJ
inlawrev-22390	169	210	investors	investor	NOUN
inlawrev-22390	169	211	are	be	AUX
inlawrev-22390	169	212	entitled	entitle	VERB
inlawrev-22390	169	213	to	to	ADP
inlawrev-22390	169	214	accurate	accurate	ADJ
inlawrev-22390	169	215	information	information	NOUN
inlawrev-22390	169	216	about	about	ADP
inlawrev-22390	169	217	any	any	DET
inlawrev-22390	169	218	potential	potential	ADJ
inlawrev-22390	169	219	investment.64	investment.64	NOUN
inlawrev-22390	169	220	this	this	DET
inlawrev-22390	169	221	disclosure	disclosure	NOUN
inlawrev-22390	169	222	-	-	PUNCT
inlawrev-22390	169	223	based	base	VERB
inlawrev-22390	169	224	philosophy	philosophy	NOUN
inlawrev-22390	169	225	rejected	reject	VERB
inlawrev-22390	169	226	the	the	DET
inlawrev-22390	169	227	merit	merit	NOUN
inlawrev-22390	169	228	-	-	PUNCT
inlawrev-22390	169	229	based	base	VERB
inlawrev-22390	169	230	approach	approach	NOUN
inlawrev-22390	169	231	adopted	adopt	VERB
inlawrev-22390	169	232	by	by	ADP
inlawrev-22390	169	233	many	many	ADJ
inlawrev-22390	169	234	of	of	ADP
inlawrev-22390	169	235	the	the	DET
inlawrev-22390	169	236	“	"	PUNCT
inlawrev-22390	169	237	blue	blue	ADJ
inlawrev-22390	169	238	sky	sky	NOUN
inlawrev-22390	169	239	laws	law	NOUN
inlawrev-22390	169	240	.	.	PUNCT
inlawrev-22390	170	1	”65	”65	NOUN
inlawrev-22390	170	2	under	under	ADP
inlawrev-22390	170	3	the	the	DET
inlawrev-22390	170	4	merit	merit	NOUN
inlawrev-22390	170	5	-	-	PUNCT
inlawrev-22390	170	6	based	base	VERB
inlawrev-22390	170	7	system	system	NOUN
inlawrev-22390	170	8	,	,	PUNCT
inlawrev-22390	170	9	regulators	regulator	NOUN
inlawrev-22390	170	10	engage	engage	VERB
inlawrev-22390	170	11	in	in	ADP
inlawrev-22390	170	12	a	a	DET
inlawrev-22390	170	13	“	"	PUNCT
inlawrev-22390	170	14	qualitative	qualitative	ADJ
inlawrev-22390	170	15	assessment	assessment	NOUN
inlawrev-22390	170	16	of	of	ADP
inlawrev-22390	170	17	the	the	DET
inlawrev-22390	170	18	offering	offering	NOUN
inlawrev-22390	170	19	”	"	PUNCT
inlawrev-22390	170	20	prior	prior	ADV
inlawrev-22390	170	21	to	to	ADP
inlawrev-22390	170	22	approval	approval	NOUN
inlawrev-22390	170	23	;	;	PUNCT
inlawrev-22390	170	24	under	under	ADP
inlawrev-22390	170	25	the	the	DET
inlawrev-22390	170	26	disclosure	disclosure	NOUN
inlawrev-22390	170	27	-	-	PUNCT
inlawrev-22390	170	28	based	base	VERB
inlawrev-22390	170	29	approach	approach	NOUN
inlawrev-22390	170	30	,	,	PUNCT
inlawrev-22390	170	31	regulators	regulator	NOUN
inlawrev-22390	170	32	require	require	VERB
inlawrev-22390	170	33	issuers	issuer	NOUN
inlawrev-22390	170	34	to	to	PART
inlawrev-22390	170	35	disclose	disclose	VERB
inlawrev-22390	170	36	comprehensive	comprehensive	ADJ
inlawrev-22390	170	37	information	information	NOUN
inlawrev-22390	170	38	that	that	PRON
inlawrev-22390	170	39	allows	allow	VERB
inlawrev-22390	170	40	the	the	DET
inlawrev-22390	170	41	market	market	NOUN
inlawrev-22390	170	42	to	to	PART
inlawrev-22390	170	43	determine	determine	VERB
inlawrev-22390	170	44	the	the	DET
inlawrev-22390	170	45	investment	investment	NOUN
inlawrev-22390	170	46	’s	’s	PART
inlawrev-22390	170	47	soundness.66	soundness.66	NOUN
inlawrev-22390	170	48	the	the	DET
inlawrev-22390	170	49	1933	1933	NUM
inlawrev-22390	170	50	act	act	NOUN
inlawrev-22390	170	51	created	create	VERB
inlawrev-22390	170	52	the	the	DET
inlawrev-22390	170	53	general	general	ADJ
inlawrev-22390	170	54	rule	rule	NOUN
inlawrev-22390	170	55	that	that	SCONJ
inlawrev-22390	170	56	all	all	DET
inlawrev-22390	170	57	offers	offer	VERB
inlawrev-22390	170	58	to	to	PART
inlawrev-22390	170	59	sell	sell	VERB
inlawrev-22390	170	60	securities	security	NOUN
inlawrev-22390	170	61	56	56	NUM
inlawrev-22390	170	62	.	.	PUNCT
inlawrev-22390	171	1	christopher	christopher	PROPN
inlawrev-22390	171	2	h.	h.	PROPN
inlawrev-22390	171	3	pierce	pierce	PROPN
inlawrev-22390	171	4	-	-	PUNCT
inlawrev-22390	171	5	wright	wright	PROPN
inlawrev-22390	171	6	,	,	PUNCT
inlawrev-22390	171	7	state	state	NOUN
inlawrev-22390	171	8	equity	equity	NOUN
inlawrev-22390	171	9	crowdfunding	crowdfunding	NOUN
inlawrev-22390	171	10	and	and	CCONJ
inlawrev-22390	171	11	investor	investor	NOUN
inlawrev-22390	171	12	protection	protection	NOUN
inlawrev-22390	171	13	,	,	PUNCT
inlawrev-22390	171	14	91	91	NUM
inlawrev-22390	171	15	wash	wash	NOUN
inlawrev-22390	171	16	.	.	PUNCT
inlawrev-22390	172	1	l.	l.	PROPN
inlawrev-22390	172	2	rev	rev	PROPN
inlawrev-22390	172	3	.	.	PROPN
inlawrev-22390	172	4	847	847	NUM
inlawrev-22390	172	5	,	,	PUNCT
inlawrev-22390	172	6	854	854	NUM
inlawrev-22390	172	7	-	-	SYM
inlawrev-22390	172	8	55	55	NUM
inlawrev-22390	172	9	(	(	PUNCT
inlawrev-22390	172	10	2016	2016	NUM
inlawrev-22390	172	11	)	)	PUNCT
inlawrev-22390	172	12	.	.	PUNCT
inlawrev-22390	173	1	57	57	NUM
inlawrev-22390	173	2	.	.	PUNCT
inlawrev-22390	174	1	i	i	PRON
inlawrev-22390	174	2	d.	d.	VERB
inlawrev-22390	174	3	at	at	ADP
inlawrev-22390	174	4	853	853	NUM
inlawrev-22390	174	5	-	-	SYM
inlawrev-22390	174	6	55	55	NUM
inlawrev-22390	174	7	.	.	PUNCT
inlawrev-22390	175	1	the	the	DET
inlawrev-22390	175	2	term	term	NOUN
inlawrev-22390	175	3	“	"	PUNCT
inlawrev-22390	175	4	blue	blue	ADJ
inlawrev-22390	175	5	sky	sky	NOUN
inlawrev-22390	175	6	law	law	NOUN
inlawrev-22390	175	7	”	"	PUNCT
inlawrev-22390	175	8	refers	refer	VERB
inlawrev-22390	175	9	to	to	ADP
inlawrev-22390	175	10	“	"	PUNCT
inlawrev-22390	175	11	speculative	speculative	ADJ
inlawrev-22390	175	12	schemes	scheme	NOUN
inlawrev-22390	175	13	which	which	PRON
inlawrev-22390	175	14	have	have	VERB
inlawrev-22390	175	15	no	no	DET
inlawrev-22390	175	16	more	more	ADJ
inlawrev-22390	175	17	basis	basis	NOUN
inlawrev-22390	175	18	than	than	ADP
inlawrev-22390	175	19	so	so	ADV
inlawrev-22390	175	20	many	many	ADJ
inlawrev-22390	175	21	feet	foot	NOUN
inlawrev-22390	175	22	of	of	ADP
inlawrev-22390	175	23	‘	'	PUNCT
inlawrev-22390	175	24	blue	blue	ADJ
inlawrev-22390	175	25	sky	sky	NOUN
inlawrev-22390	175	26	.	.	PUNCT
inlawrev-22390	175	27	’	'	PUNCT
inlawrev-22390	176	1	”	"	PUNCT
inlawrev-22390	176	2	wroldsen	wroldsen	PROPN
inlawrev-22390	176	3	,	,	PUNCT
inlawrev-22390	176	4	supra	supra	PROPN
inlawrev-22390	176	5	note	note	NOUN
inlawrev-22390	176	6	1	1	NUM
inlawrev-22390	176	7	,	,	PUNCT
inlawrev-22390	176	8	at	at	ADP
inlawrev-22390	176	9	607	607	NUM
inlawrev-22390	176	10	n.124	n.124	NUM
inlawrev-22390	176	11	(	(	PUNCT
inlawrev-22390	176	12	quoting	quote	VERB
inlawrev-22390	176	13	hall	hall	NOUN
inlawrev-22390	176	14	v.	v.	ADP
inlawrev-22390	176	15	geiger	geiger	PROPN
inlawrev-22390	176	16	-	-	PUNCT
inlawrev-22390	176	17	jones	jones	PROPN
inlawrev-22390	176	18	co.	co.	PROPN
inlawrev-22390	176	19	,	,	PUNCT
inlawrev-22390	176	20	242	242	NUM
inlawrev-22390	176	21	u.s	u.s	PROPN
inlawrev-22390	176	22	.	.	PROPN
inlawrev-22390	176	23	539	539	NUM
inlawrev-22390	176	24	,	,	PUNCT
inlawrev-22390	176	25	550	550	NUM
inlawrev-22390	176	26	(	(	PUNCT
inlawrev-22390	176	27	1917	1917	NUM
inlawrev-22390	176	28	)	)	PUNCT
inlawrev-22390	176	29	)	)	PUNCT
inlawrev-22390	176	30	.	.	PUNCT
inlawrev-22390	177	1	58	58	NUM
inlawrev-22390	177	2	.	.	PUNCT
inlawrev-22390	178	1	pierce	pierce	PROPN
inlawrev-22390	178	2	-	-	PUNCT
inlawrev-22390	178	3	wright	wright	PROPN
inlawrev-22390	178	4	,	,	PUNCT
inlawrev-22390	178	5	supra	supra	PROPN
inlawrev-22390	178	6	note	note	PROPN
inlawrev-22390	178	7	56	56	NUM
inlawrev-22390	178	8	,	,	PUNCT
inlawrev-22390	178	9	at	at	ADP
inlawrev-22390	178	10	855	855	NUM
inlawrev-22390	178	11	.	.	PUNCT
inlawrev-22390	179	1	59	59	NUM
inlawrev-22390	179	2	.	.	PUNCT
inlawrev-22390	180	1	i	i	PRON
inlawrev-22390	180	2	d.	d.	PROPN
inlawrev-22390	180	3	at	at	ADP
inlawrev-22390	180	4	854	854	NUM
inlawrev-22390	180	5	,	,	PUNCT
inlawrev-22390	180	6	859	859	NUM
inlawrev-22390	180	7	;	;	PUNCT
inlawrev-22390	180	8	hogan	hogan	PROPN
inlawrev-22390	180	9	,	,	PUNCT
inlawrev-22390	180	10	supra	supra	PROPN
inlawrev-22390	180	11	note	note	PROPN
inlawrev-22390	180	12	10	10	NUM
inlawrev-22390	180	13	,	,	PUNCT
inlawrev-22390	180	14	at	at	ADP
inlawrev-22390	180	15	1095	1095	NUM
inlawrev-22390	180	16	.	.	PUNCT
inlawrev-22390	181	1	60	60	NUM
inlawrev-22390	181	2	.	.	PUNCT
inlawrev-22390	182	1	paige	paige	PROPN
inlawrev-22390	182	2	m.	m.	PROPN
inlawrev-22390	182	3	lager	lager	NOUN
inlawrev-22390	182	4	,	,	PUNCT
inlawrev-22390	182	5	the	the	DET
inlawrev-22390	182	6	route	route	NOUN
inlawrev-22390	182	7	to	to	ADP
inlawrev-22390	182	8	capitalization	capitalization	NOUN
inlawrev-22390	182	9	:	:	PUNCT
inlawrev-22390	182	10	the	the	DET
inlawrev-22390	182	11	transcendent	transcendent	ADJ
inlawrev-22390	182	12	registration	registration	NOUN
inlawrev-22390	182	13	exemptions	exemption	NOUN
inlawrev-22390	182	14	for	for	ADP
inlawrev-22390	182	15	securities	security	NOUN
inlawrev-22390	182	16	offerings	offering	NOUN
inlawrev-22390	182	17	as	as	ADP
inlawrev-22390	182	18	a	a	DET
inlawrev-22390	182	19	means	means	NOUN
inlawrev-22390	182	20	to	to	ADP
inlawrev-22390	182	21	small	small	ADJ
inlawrev-22390	182	22	business	business	NOUN
inlawrev-22390	182	23	capital	capital	NOUN
inlawrev-22390	182	24	formation	formation	NOUN
inlawrev-22390	182	25	,	,	PUNCT
inlawrev-22390	182	26	94	94	NUM
inlawrev-22390	182	27	tex	tex	PROPN
inlawrev-22390	182	28	.	.	PROPN
inlawrev-22390	182	29	l.	l.	PROPN
inlawrev-22390	182	30	rev	rev	PROPN
inlawrev-22390	182	31	.	.	PROPN
inlawrev-22390	182	32	567	567	NUM
inlawrev-22390	182	33	,	,	PUNCT
inlawrev-22390	182	34	568	568	NUM
inlawrev-22390	182	35	(	(	PUNCT
inlawrev-22390	182	36	2016	2016	NUM
inlawrev-22390	182	37	)	)	PUNCT
inlawrev-22390	182	38	.	.	PUNCT
inlawrev-22390	183	1	61	61	NUM
inlawrev-22390	183	2	.	.	NOUN
inlawrev-22390	183	3	15	15	NUM
inlawrev-22390	183	4	u.s.c	u.s.c	NOUN
inlawrev-22390	183	5	.	.	PUNCT
inlawrev-22390	184	1	§	§	PROPN
inlawrev-22390	184	2	§	§	PROPN
inlawrev-22390	184	3	77b(b	77b(b	PROPN
inlawrev-22390	184	4	)	)	PUNCT
inlawrev-22390	184	5	,	,	PUNCT
inlawrev-22390	184	6	78d	78d	X
inlawrev-22390	184	7	(	(	PUNCT
inlawrev-22390	184	8	2012	2012	NUM
inlawrev-22390	184	9	)	)	PUNCT
inlawrev-22390	184	10	.	.	PUNCT
inlawrev-22390	185	1	62	62	NUM
inlawrev-22390	185	2	.	.	PUNCT
inlawrev-22390	186	1	securities	security	NOUN
inlawrev-22390	186	2	act	act	PROPN
inlawrev-22390	186	3	of	of	ADP
inlawrev-22390	186	4	1933	1933	NUM
inlawrev-22390	186	5	,	,	PUNCT
inlawrev-22390	186	6	ch	ch	NOUN
inlawrev-22390	186	7	.	.	PROPN
inlawrev-22390	186	8	38	38	NUM
inlawrev-22390	186	9	,	,	PUNCT
inlawrev-22390	186	10	title	title	NOUN
inlawrev-22390	186	11	i	i	PRON
inlawrev-22390	186	12	,	,	PUNCT
inlawrev-22390	186	13	48	48	NUM
inlawrev-22390	186	14	stat	stat	NOUN
inlawrev-22390	186	15	.	.	PUNCT
inlawrev-22390	187	1	74	74	NUM
inlawrev-22390	187	2	(	(	PUNCT
inlawrev-22390	187	3	codified	codify	VERB
inlawrev-22390	187	4	as	as	ADP
inlawrev-22390	187	5	15	15	NUM
inlawrev-22390	187	6	u.s.c	u.s.c	ADJ
inlawrev-22390	187	7	.	.	PUNCT
inlawrev-22390	188	1	§	§	PROPN
inlawrev-22390	188	2	§	§	PROPN
inlawrev-22390	188	3	77a	77a	NOUN
inlawrev-22390	188	4	to	to	ADP
inlawrev-22390	188	5	77z	77z	NUM
inlawrev-22390	188	6	,	,	PUNCT
inlawrev-22390	188	7	77aa	77aa	NOUN
inlawrev-22390	188	8	(	(	PUNCT
inlawrev-22390	188	9	2012	2012	NUM
inlawrev-22390	188	10	)	)	PUNCT
inlawrev-22390	188	11	)	)	PUNCT
inlawrev-22390	189	1	[	[	X
inlawrev-22390	189	2	hereinafter	hereinafter	NOUN
inlawrev-22390	189	3	1933	1933	NUM
inlawrev-22390	189	4	act	act	PROPN
inlawrev-22390	189	5	]	]	PUNCT
inlawrev-22390	189	6	.	.	PUNCT
inlawrev-22390	190	1	63	63	NUM
inlawrev-22390	190	2	.	.	PUNCT
inlawrev-22390	191	1	securities	security	NOUN
inlawrev-22390	191	2	exchange	exchange	PROPN
inlawrev-22390	191	3	act	act	NOUN
inlawrev-22390	191	4	of	of	ADP
inlawrev-22390	191	5	1934	1934	NUM
inlawrev-22390	191	6	,	,	PUNCT
inlawrev-22390	191	7	ch	ch	NOUN
inlawrev-22390	191	8	.	.	PROPN
inlawrev-22390	191	9	404	404	NUM
inlawrev-22390	191	10	,	,	PUNCT
inlawrev-22390	191	11	48	48	NUM
inlawrev-22390	191	12	stat	stat	NOUN
inlawrev-22390	191	13	.	.	PUNCT
inlawrev-22390	192	1	881	881	NUM
inlawrev-22390	192	2	(	(	PUNCT
inlawrev-22390	192	3	codified	codify	VERB
inlawrev-22390	192	4	as	as	ADP
inlawrev-22390	192	5	15	15	NUM
inlawrev-22390	192	6	u.s.c	u.s.c	ADJ
inlawrev-22390	192	7	.	.	PUNCT
inlawrev-22390	193	1	§	§	PROPN
inlawrev-22390	193	2	§	§	PROPN
inlawrev-22390	193	3	77b	77b	PUNCT
inlawrev-22390	193	4	to	to	ADP
inlawrev-22390	193	5	77e	77e	NUM
inlawrev-22390	193	6	,	,	PUNCT
inlawrev-22390	193	7	77j	77j	NUM
inlawrev-22390	193	8	,	,	PUNCT
inlawrev-22390	193	9	77k	77k	NUM
inlawrev-22390	193	10	,	,	PUNCT
inlawrev-22390	193	11	77	77	NUM
inlawrev-22390	193	12	m	m	NOUN
inlawrev-22390	193	13	,	,	PUNCT
inlawrev-22390	193	14	77o	77o	NOUN
inlawrev-22390	193	15	,	,	PUNCT
inlawrev-22390	193	16	77s	77s	NUM
inlawrev-22390	193	17	,	,	PUNCT
inlawrev-22390	193	18	78a	78a	NOUN
inlawrev-22390	193	19	to	to	ADP
inlawrev-22390	193	20	78o	78o	NOUN
inlawrev-22390	193	21	,	,	PUNCT
inlawrev-22390	193	22	78o-3	78o-3	NUM
inlawrev-22390	193	23	,	,	PUNCT
inlawrev-22390	193	24	78p	78p	NOUN
inlawrev-22390	193	25	to	to	ADP
inlawrev-22390	193	26	78z	78z	NUM
inlawrev-22390	193	27	,	,	PUNCT
inlawrev-22390	193	28	78aa	78aa	NOUN
inlawrev-22390	193	29	to	to	ADP
inlawrev-22390	193	30	78hh	78hh	ADJ
inlawrev-22390	193	31	,	,	PUNCT
inlawrev-22390	193	32	78kk	78kk	ADJ
inlawrev-22390	193	33	,	,	PUNCT
inlawrev-22390	193	34	78ll	78ll	ADJ
inlawrev-22390	193	35	(	(	PUNCT
inlawrev-22390	193	36	2012	2012	NUM
inlawrev-22390	193	37	)	)	PUNCT
inlawrev-22390	193	38	)	)	PUNCT
inlawrev-22390	193	39	.	.	PUNCT
inlawrev-22390	194	1	64	64	NUM
inlawrev-22390	194	2	.	.	PUNCT
inlawrev-22390	194	3	weitz	weitz	PROPN
inlawrev-22390	194	4	&	&	CCONJ
inlawrev-22390	194	5	halket	halket	PROPN
inlawrev-22390	194	6	,	,	PUNCT
inlawrev-22390	194	7	supra	supra	PROPN
inlawrev-22390	194	8	note	note	NOUN
inlawrev-22390	194	9	47	47	NUM
inlawrev-22390	194	10	,	,	PUNCT
inlawrev-22390	194	11	at	at	ADP
inlawrev-22390	194	12	527	527	NUM
inlawrev-22390	194	13	-	-	SYM
inlawrev-22390	194	14	29	29	NUM
inlawrev-22390	194	15	.	.	PUNCT
inlawrev-22390	194	16	65	65	NUM
inlawrev-22390	194	17	.	.	PUNCT
inlawrev-22390	195	1	wroldsen	wroldsen	PROPN
inlawrev-22390	195	2	,	,	PUNCT
inlawrev-22390	195	3	supra	supra	PROPN
inlawrev-22390	195	4	note	note	NOUN
inlawrev-22390	195	5	1	1	NUM
inlawrev-22390	195	6	,	,	PUNCT
inlawrev-22390	195	7	at	at	ADP
inlawrev-22390	195	8	606	606	NUM
inlawrev-22390	195	9	-	-	SYM
inlawrev-22390	195	10	08	08	NUM
inlawrev-22390	195	11	.	.	PUNCT
inlawrev-22390	196	1	66	66	NUM
inlawrev-22390	196	2	.	.	PUNCT
inlawrev-22390	197	1	i	i	PRON
inlawrev-22390	197	2	d.	d.	PROPN
inlawrev-22390	197	3	284	284	NUM
inlawrev-22390	197	4	indiana	indiana	PROPN
inlawrev-22390	197	5	law	law	PROPN
inlawrev-22390	197	6	review	review	NOUN
inlawrev-22390	198	1	[	[	X
inlawrev-22390	198	2	vol	vol	NOUN
inlawrev-22390	198	3	.	.	PUNCT
inlawrev-22390	199	1	51:277	51:277	NOUN
inlawrev-22390	199	2	in	in	ADP
inlawrev-22390	199	3	the	the	DET
inlawrev-22390	199	4	united	united	PROPN
inlawrev-22390	199	5	states	states	PROPN
inlawrev-22390	199	6	must	must	AUX
inlawrev-22390	199	7	be	be	AUX
inlawrev-22390	199	8	registered	register	VERB
inlawrev-22390	199	9	with	with	ADP
inlawrev-22390	199	10	the	the	DET
inlawrev-22390	199	11	sec.67	sec.67	NOUN
inlawrev-22390	199	12	a	a	DET
inlawrev-22390	199	13	broad	broad	ADJ
inlawrev-22390	199	14	definition	definition	NOUN
inlawrev-22390	199	15	of	of	ADP
inlawrev-22390	199	16	what	what	PRON
inlawrev-22390	199	17	constitutes	constitute	VERB
inlawrev-22390	199	18	a	a	DET
inlawrev-22390	199	19	security	security	NOUN
inlawrev-22390	199	20	was	be	AUX
inlawrev-22390	199	21	codified	codify	VERB
inlawrev-22390	199	22	,	,	PUNCT
inlawrev-22390	199	23	including	include	VERB
inlawrev-22390	199	24	“	"	PUNCT
inlawrev-22390	199	25	investment	investment	NOUN
inlawrev-22390	199	26	contract[s].”68	contract[s].”68	NUM
inlawrev-22390	199	27	investment	investment	NOUN
inlawrev-22390	199	28	contracts	contract	NOUN
inlawrev-22390	199	29	themselves	themselves	PRON
inlawrev-22390	199	30	were	be	AUX
inlawrev-22390	199	31	defined	define	VERB
inlawrev-22390	199	32	in	in	ADP
inlawrev-22390	199	33	the	the	DET
inlawrev-22390	199	34	1946	1946	NUM
inlawrev-22390	199	35	supreme	supreme	PROPN
inlawrev-22390	199	36	court	court	PROPN
inlawrev-22390	199	37	decision	decision	NOUN
inlawrev-22390	199	38	sec	sec	PROPN
inlawrev-22390	199	39	v.	v.	PROPN
inlawrev-22390	199	40	w.j	w.j	PROPN
inlawrev-22390	199	41	.	.	PROPN
inlawrev-22390	200	1	howey	howey	PROPN
inlawrev-22390	200	2	co.69	co.69	VERB
inlawrev-22390	200	3	the	the	DET
inlawrev-22390	200	4	howey	howey	PROPN
inlawrev-22390	200	5	test	test	NOUN
inlawrev-22390	200	6	asks	ask	VERB
inlawrev-22390	200	7	whether	whether	SCONJ
inlawrev-22390	200	8	the	the	DET
inlawrev-22390	200	9	instrument	instrument	NOUN
inlawrev-22390	200	10	being	be	AUX
inlawrev-22390	200	11	offered	offer	VERB
inlawrev-22390	200	12	for	for	ADP
inlawrev-22390	200	13	sale	sale	NOUN
inlawrev-22390	200	14	involves	involve	VERB
inlawrev-22390	200	15	an	an	DET
inlawrev-22390	200	16	investment	investment	NOUN
inlawrev-22390	200	17	of	of	ADP
inlawrev-22390	200	18	money	money	NOUN
inlawrev-22390	200	19	in	in	ADP
inlawrev-22390	200	20	a	a	DET
inlawrev-22390	200	21	common	common	ADJ
inlawrev-22390	200	22	enterprise	enterprise	NOUN
inlawrev-22390	200	23	with	with	ADP
inlawrev-22390	200	24	an	an	DET
inlawrev-22390	200	25	expectation	expectation	NOUN
inlawrev-22390	200	26	of	of	ADP
inlawrev-22390	200	27	profits	profit	NOUN
inlawrev-22390	200	28	“	"	PUNCT
inlawrev-22390	200	29	to	to	PART
inlawrev-22390	200	30	come	come	VERB
inlawrev-22390	200	31	solely	solely	ADV
inlawrev-22390	200	32	from	from	ADP
inlawrev-22390	200	33	the	the	DET
inlawrev-22390	200	34	efforts	effort	NOUN
inlawrev-22390	200	35	of	of	ADP
inlawrev-22390	200	36	others	other	NOUN
inlawrev-22390	200	37	.	.	PUNCT
inlawrev-22390	201	1	”70	”70	VERB
inlawrev-22390	201	2	if	if	SCONJ
inlawrev-22390	201	3	so	so	ADV
inlawrev-22390	201	4	,	,	PUNCT
inlawrev-22390	201	5	the	the	DET
inlawrev-22390	201	6	instrument	instrument	NOUN
inlawrev-22390	201	7	is	be	AUX
inlawrev-22390	201	8	an	an	DET
inlawrev-22390	201	9	investment	investment	NOUN
inlawrev-22390	201	10	contract.7	contract.7	NOUN
inlawrev-22390	201	11	1	1	NUM
inlawrev-22390	201	12	an	an	DET
inlawrev-22390	201	13	investment	investment	NOUN
inlawrev-22390	201	14	contract	contract	NOUN
inlawrev-22390	201	15	is	be	AUX
inlawrev-22390	201	16	defined	define	VERB
inlawrev-22390	201	17	by	by	ADP
inlawrev-22390	201	18	the	the	DET
inlawrev-22390	201	19	statute	statute	NOUN
inlawrev-22390	201	20	as	as	ADP
inlawrev-22390	201	21	a	a	DET
inlawrev-22390	201	22	security	security	NOUN
inlawrev-22390	201	23	,	,	PUNCT
inlawrev-22390	201	24	and	and	CCONJ
inlawrev-22390	201	25	the	the	DET
inlawrev-22390	201	26	statute	statute	NOUN
inlawrev-22390	201	27	requires	require	VERB
inlawrev-22390	201	28	offers	offer	NOUN
inlawrev-22390	201	29	and	and	CCONJ
inlawrev-22390	201	30	sales	sale	NOUN
inlawrev-22390	201	31	of	of	ADP
inlawrev-22390	201	32	securities	security	NOUN
inlawrev-22390	201	33	to	to	PART
inlawrev-22390	201	34	be	be	AUX
inlawrev-22390	201	35	registered	register	VERB
inlawrev-22390	201	36	with	with	ADP
inlawrev-22390	201	37	the	the	DET
inlawrev-22390	201	38	sec	sec	PROPN
inlawrev-22390	201	39	unless	unless	SCONJ
inlawrev-22390	201	40	an	an	DET
inlawrev-22390	201	41	exemption	exemption	NOUN
inlawrev-22390	201	42	is	be	AUX
inlawrev-22390	201	43	available.72	available.72	NOUN
inlawrev-22390	201	44	registering	register	VERB
inlawrev-22390	201	45	these	these	DET
inlawrev-22390	201	46	offers	offer	NOUN
inlawrev-22390	201	47	of	of	ADP
inlawrev-22390	201	48	securities	security	NOUN
inlawrev-22390	201	49	is	be	AUX
inlawrev-22390	201	50	a	a	DET
inlawrev-22390	201	51	costly	costly	ADJ
inlawrev-22390	201	52	and	and	CCONJ
inlawrev-22390	201	53	time	time	NOUN
inlawrev-22390	201	54	-	-	PUNCT
inlawrev-22390	201	55	consuming	consume	VERB
inlawrev-22390	201	56	undertaking	undertaking	NOUN
inlawrev-22390	201	57	rife	rife	NOUN
inlawrev-22390	201	58	with	with	ADP
inlawrev-22390	201	59	regulations.73	regulations.73	NOUN
inlawrev-22390	201	60	because	because	SCONJ
inlawrev-22390	201	61	of	of	ADP
inlawrev-22390	201	62	the	the	DET
inlawrev-22390	201	63	complexity	complexity	NOUN
inlawrev-22390	201	64	of	of	ADP
inlawrev-22390	201	65	this	this	DET
inlawrev-22390	201	66	process	process	NOUN
inlawrev-22390	201	67	,	,	PUNCT
inlawrev-22390	201	68	the	the	DET
inlawrev-22390	201	69	1933	1933	NUM
inlawrev-22390	201	70	act	act	NOUN
inlawrev-22390	201	71	has	have	AUX
inlawrev-22390	201	72	always	always	ADV
inlawrev-22390	201	73	authorized	authorize	VERB
inlawrev-22390	201	74	certain	certain	ADJ
inlawrev-22390	201	75	exemptions	exemption	NOUN
inlawrev-22390	201	76	,	,	PUNCT
inlawrev-22390	201	77	which	which	PRON
inlawrev-22390	201	78	have	have	AUX
inlawrev-22390	201	79	been	be	AUX
inlawrev-22390	201	80	expanded	expand	VERB
inlawrev-22390	201	81	over	over	ADP
inlawrev-22390	201	82	time	time	NOUN
inlawrev-22390	201	83	,	,	PUNCT
inlawrev-22390	201	84	that	that	PRON
inlawrev-22390	201	85	do	do	AUX
inlawrev-22390	201	86	not	not	PART
inlawrev-22390	201	87	require	require	VERB
inlawrev-22390	201	88	the	the	DET
inlawrev-22390	201	89	companies	company	NOUN
inlawrev-22390	201	90	selling	sell	VERB
inlawrev-22390	201	91	their	their	PRON
inlawrev-22390	201	92	securities	security	NOUN
inlawrev-22390	201	93	(	(	PUNCT
inlawrev-22390	201	94	called	call	VERB
inlawrev-22390	201	95	“	"	PUNCT
inlawrev-22390	201	96	issuer[s	issuer[s	ADJ
inlawrev-22390	201	97	]	]	PUNCT
inlawrev-22390	201	98	”	"	PUNCT
inlawrev-22390	201	99	)	)	PUNCT
inlawrev-22390	201	100	to	to	PART
inlawrev-22390	201	101	register	register	VERB
inlawrev-22390	201	102	an	an	DET
inlawrev-22390	201	103	offer	offer	NOUN
inlawrev-22390	201	104	for	for	ADP
inlawrev-22390	201	105	securities.74	securities.74	NOUN
inlawrev-22390	201	106	so	so	ADV
inlawrev-22390	201	107	long	long	ADV
inlawrev-22390	201	108	as	as	SCONJ
inlawrev-22390	201	109	the	the	DET
inlawrev-22390	201	110	issuer	issuer	NOUN
inlawrev-22390	201	111	satisfies	satisfy	VERB
inlawrev-22390	201	112	the	the	DET
inlawrev-22390	201	113	requirements	requirement	NOUN
inlawrev-22390	201	114	of	of	ADP
inlawrev-22390	201	115	the	the	DET
inlawrev-22390	201	116	specific	specific	ADJ
inlawrev-22390	201	117	exemption	exemption	NOUN
inlawrev-22390	201	118	,	,	PUNCT
inlawrev-22390	201	119	the	the	DET
inlawrev-22390	201	120	offer	offer	NOUN
inlawrev-22390	201	121	does	do	AUX
inlawrev-22390	201	122	not	not	PART
inlawrev-22390	201	123	need	need	VERB
inlawrev-22390	201	124	to	to	PART
inlawrev-22390	201	125	be	be	AUX
inlawrev-22390	201	126	registered	register	VERB
inlawrev-22390	201	127	with	with	ADP
inlawrev-22390	201	128	the	the	DET
inlawrev-22390	201	129	sec.75	sec.75	PROPN
inlawrev-22390	201	130	this	this	PRON
inlawrev-22390	201	131	is	be	AUX
inlawrev-22390	201	132	where	where	SCONJ
inlawrev-22390	201	133	regulation	regulation	NOUN
inlawrev-22390	201	134	crowdfunding	crowdfunding	NOUN
inlawrev-22390	201	135	fits	fit	VERB
inlawrev-22390	201	136	into	into	ADP
inlawrev-22390	201	137	the	the	DET
inlawrev-22390	201	138	regulatory	regulatory	ADJ
inlawrev-22390	201	139	scheme.76	scheme.76	PROPN
inlawrev-22390	201	140	interestingly	interestingly	ADV
inlawrev-22390	201	141	,	,	PUNCT
inlawrev-22390	201	142	while	while	SCONJ
inlawrev-22390	201	143	the	the	DET
inlawrev-22390	201	144	sec	sec	PROPN
inlawrev-22390	201	145	was	be	AUX
inlawrev-22390	201	146	deliberating	deliberate	VERB
inlawrev-22390	201	147	over	over	ADP
inlawrev-22390	201	148	the	the	DET
inlawrev-22390	201	149	final	final	ADJ
inlawrev-22390	201	150	crowdfunding	crowdfunding	NOUN
inlawrev-22390	201	151	rules	rule	NOUN
inlawrev-22390	201	152	,	,	PUNCT
inlawrev-22390	201	153	many	many	ADJ
inlawrev-22390	201	154	states	state	NOUN
inlawrev-22390	201	155	took	take	VERB
inlawrev-22390	201	156	advantage	advantage	NOUN
inlawrev-22390	201	157	of	of	ADP
inlawrev-22390	201	158	a	a	DET
inlawrev-22390	201	159	different	different	ADJ
inlawrev-22390	201	160	exemption	exemption	NOUN
inlawrev-22390	201	161	to	to	PART
inlawrev-22390	201	162	enact	enact	VERB
inlawrev-22390	201	163	their	their	PRON
inlawrev-22390	201	164	own	own	ADJ
inlawrev-22390	201	165	crowdfunding	crowdfunding	NOUN
inlawrev-22390	201	166	laws.7	laws.7	NOUN
inlawrev-22390	201	167	7	7	NUM
inlawrev-22390	201	168	the	the	DET
inlawrev-22390	201	169	intrastate	intrastate	ADJ
inlawrev-22390	201	170	exemption	exemption	NOUN
inlawrev-22390	201	171	allows	allow	VERB
inlawrev-22390	201	172	issuers	issuer	NOUN
inlawrev-22390	201	173	to	to	PART
inlawrev-22390	201	174	offer	offer	VERB
inlawrev-22390	201	175	securities	security	NOUN
inlawrev-22390	201	176	if	if	SCONJ
inlawrev-22390	201	177	the	the	DET
inlawrev-22390	201	178	offer	offer	NOUN
inlawrev-22390	201	179	and	and	CCONJ
inlawrev-22390	201	180	all	all	DET
inlawrev-22390	201	181	sales	sale	NOUN
inlawrev-22390	201	182	are	be	AUX
inlawrev-22390	201	183	solely	solely	ADV
inlawrev-22390	201	184	confined	confine	VERB
inlawrev-22390	201	185	to	to	ADP
inlawrev-22390	201	186	one	one	NUM
inlawrev-22390	201	187	state.78	state.78	NOUN
inlawrev-22390	201	188	this	this	DET
inlawrev-22390	201	189	provision	provision	NOUN
inlawrev-22390	201	190	covers	cover	VERB
inlawrev-22390	201	191	the	the	DET
inlawrev-22390	201	192	very	very	ADV
inlawrev-22390	201	193	narrow	narrow	ADJ
inlawrev-22390	201	194	situation	situation	NOUN
inlawrev-22390	201	195	where	where	SCONJ
inlawrev-22390	201	196	a	a	DET
inlawrev-22390	201	197	company	company	NOUN
inlawrev-22390	201	198	incorporated	incorporate	VERB
inlawrev-22390	201	199	in	in	ADP
inlawrev-22390	201	200	one	one	NUM
inlawrev-22390	201	201	state	state	NOUN
inlawrev-22390	201	202	makes	make	VERB
inlawrev-22390	201	203	an	an	DET
inlawrev-22390	201	204	offer	offer	NOUN
inlawrev-22390	201	205	only	only	ADV
inlawrev-22390	201	206	to	to	ADP
inlawrev-22390	201	207	residents	resident	NOUN
inlawrev-22390	201	208	of	of	ADP
inlawrev-22390	201	209	the	the	DET
inlawrev-22390	201	210	same	same	ADJ
inlawrev-22390	201	211	state.79	state.79	NOUN
inlawrev-22390	201	212	in	in	ADP
inlawrev-22390	201	213	this	this	DET
inlawrev-22390	201	214	rule	rule	NOUN
inlawrev-22390	201	215	,	,	PUNCT
inlawrev-22390	201	216	geographic	geographic	ADJ
inlawrev-22390	201	217	proximity	proximity	NOUN
inlawrev-22390	201	218	between	between	ADP
inlawrev-22390	201	219	the	the	DET
inlawrev-22390	201	220	issuer	issuer	NOUN
inlawrev-22390	201	221	and	and	CCONJ
inlawrev-22390	201	222	investor	investor	NOUN
inlawrev-22390	201	223	was	be	AUX
inlawrev-22390	201	224	seen	see	VERB
inlawrev-22390	201	225	as	as	ADP
inlawrev-22390	201	226	a	a	DET
inlawrev-22390	201	227	form	form	NOUN
inlawrev-22390	201	228	of	of	ADP
inlawrev-22390	201	229	protection.80	protection.80	NOUN
inlawrev-22390	201	230	the	the	DET
inlawrev-22390	201	231	offer	offer	NOUN
inlawrev-22390	201	232	must	must	AUX
inlawrev-22390	201	233	only	only	ADV
inlawrev-22390	201	234	comply	comply	VERB
inlawrev-22390	201	235	with	with	ADP
inlawrev-22390	201	236	state	state	NOUN
inlawrev-22390	201	237	securities	security	NOUN
inlawrev-22390	201	238	regulation	regulation	NOUN
inlawrev-22390	201	239	and	and	CCONJ
inlawrev-22390	201	240	requires	require	VERB
inlawrev-22390	201	241	no	no	DET
inlawrev-22390	201	242	involvement	involvement	NOUN
inlawrev-22390	201	243	from	from	ADP
inlawrev-22390	201	244	the	the	DET
inlawrev-22390	201	245	sec	sec	PROPN
inlawrev-22390	201	246	unless	unless	SCONJ
inlawrev-22390	201	247	the	the	DET
inlawrev-22390	201	248	exemption	exemption	NOUN
inlawrev-22390	201	249	is	be	AUX
inlawrev-22390	201	250	lost.81	lost.81	NOUN
inlawrev-22390	201	251	this	this	DET
inlawrev-22390	201	252	rule	rule	NOUN
inlawrev-22390	201	253	is	be	AUX
inlawrev-22390	201	254	deceptively	deceptively	ADV
inlawrev-22390	201	255	simple	simple	ADJ
inlawrev-22390	201	256	,	,	PUNCT
inlawrev-22390	201	257	but	but	CCONJ
inlawrev-22390	201	258	if	if	SCONJ
inlawrev-22390	201	259	the	the	DET
inlawrev-22390	201	260	offer	offer	NOUN
inlawrev-22390	201	261	crosses	cross	VERB
inlawrev-22390	201	262	state	state	NOUN
inlawrev-22390	201	263	lines	line	NOUN
inlawrev-22390	201	264	at	at	ADV
inlawrev-22390	201	265	all	all	ADV
inlawrev-22390	201	266	,	,	PUNCT
inlawrev-22390	201	267	the	the	DET
inlawrev-22390	201	268	issuer	issuer	NOUN
inlawrev-22390	201	269	is	be	AUX
inlawrev-22390	201	270	no	no	ADV
inlawrev-22390	201	271	longer	long	ADV
inlawrev-22390	201	272	protected	protect	VERB
inlawrev-22390	201	273	under	under	ADP
inlawrev-22390	201	274	the	the	DET
inlawrev-22390	201	275	exemption.82	exemption.82	NOUN
inlawrev-22390	201	276	to	to	ADP
inlawrev-22390	201	277	date	date	NOUN
inlawrev-22390	201	278	,	,	PUNCT
inlawrev-22390	201	279	at	at	ADV
inlawrev-22390	201	280	least	least	ADJ
inlawrev-22390	201	281	thirty	thirty	NUM
inlawrev-22390	201	282	-	-	PUNCT
inlawrev-22390	201	283	six	six	NUM
inlawrev-22390	201	284	states	state	NOUN
inlawrev-22390	201	285	,	,	PUNCT
inlawrev-22390	201	286	including	include	VERB
inlawrev-22390	201	287	indiana	indiana	PROPN
inlawrev-22390	201	288	,	,	PUNCT
inlawrev-22390	201	289	have	have	AUX
inlawrev-22390	201	290	enacted	enact	VERB
inlawrev-22390	201	291	some	some	DET
inlawrev-22390	201	292	form	form	NOUN
inlawrev-22390	201	293	of	of	ADP
inlawrev-22390	201	294	67	67	NUM
inlawrev-22390	201	295	.	.	NOUN
inlawrev-22390	201	296	15	15	NUM
inlawrev-22390	201	297	u.s.c	u.s.c	NOUN
inlawrev-22390	201	298	.	.	PUNCT
inlawrev-22390	202	1	§	§	PROPN
inlawrev-22390	202	2	77f	77f	NOUN
inlawrev-22390	202	3	(	(	PUNCT
inlawrev-22390	202	4	2012	2012	NUM
inlawrev-22390	202	5	)	)	PUNCT
inlawrev-22390	202	6	.	.	PUNCT
inlawrev-22390	203	1	68	68	NUM
inlawrev-22390	203	2	.	.	PUNCT
inlawrev-22390	204	1	i	i	PRON
inlawrev-22390	204	2	d.	d.	PROPN
inlawrev-22390	204	3	§	§	PROPN
inlawrev-22390	204	4	77b(a)(1	77b(a)(1	NUM
inlawrev-22390	204	5	)	)	PUNCT
inlawrev-22390	204	6	.	.	PUNCT
inlawrev-22390	205	1	69	69	NUM
inlawrev-22390	205	2	.	.	X
inlawrev-22390	206	1	328	328	NUM
inlawrev-22390	206	2	u.s	u.s	PROPN
inlawrev-22390	206	3	.	.	PROPN
inlawrev-22390	206	4	293	293	NUM
inlawrev-22390	206	5	(	(	PUNCT
inlawrev-22390	206	6	1946	1946	NUM
inlawrev-22390	206	7	)	)	PUNCT
inlawrev-22390	206	8	.	.	PUNCT
inlawrev-22390	207	1	70	70	X
inlawrev-22390	207	2	.	.	PUNCT
inlawrev-22390	208	1	i	i	PRON
inlawrev-22390	208	2	d.	d.	PROPN
inlawrev-22390	208	3	at	at	ADP
inlawrev-22390	208	4	301	301	NUM
inlawrev-22390	208	5	.	.	PUNCT
inlawrev-22390	209	1	71	71	NUM
inlawrev-22390	209	2	.	.	PUNCT
inlawrev-22390	210	1	i	i	PRON
inlawrev-22390	210	2	d.	d.	PROPN
inlawrev-22390	210	3	at	at	ADP
inlawrev-22390	210	4	298	298	NUM
inlawrev-22390	210	5	-	-	SYM
inlawrev-22390	210	6	99	99	NUM
inlawrev-22390	210	7	.	.	PUNCT
inlawrev-22390	210	8	72	72	NUM
inlawrev-22390	210	9	.	.	NOUN
inlawrev-22390	210	10	15	15	NUM
inlawrev-22390	210	11	u.s.c	u.s.c	NOUN
inlawrev-22390	210	12	.	.	PUNCT
inlawrev-22390	211	1	§	§	PROPN
inlawrev-22390	211	2	§	§	PROPN
inlawrev-22390	211	3	77b(a)(1	77b(a)(1	NUM
inlawrev-22390	211	4	)	)	PUNCT
inlawrev-22390	211	5	,	,	PUNCT
inlawrev-22390	211	6	77d-77f	77d-77f	NOUN
inlawrev-22390	211	7	.	.	PUNCT
inlawrev-22390	212	1	73	73	NUM
inlawrev-22390	212	2	.	.	PUNCT
inlawrev-22390	213	1	yamen	yamen	PROPN
inlawrev-22390	213	2	&	&	CCONJ
inlawrev-22390	213	3	goldfeder	goldfeder	PROPN
inlawrev-22390	213	4	,	,	PUNCT
inlawrev-22390	213	5	supra	supra	PROPN
inlawrev-22390	213	6	note	note	NOUN
inlawrev-22390	213	7	12	12	NUM
inlawrev-22390	213	8	,	,	PUNCT
inlawrev-22390	213	9	at	at	ADP
inlawrev-22390	213	10	48	48	NUM
inlawrev-22390	213	11	-	-	SYM
inlawrev-22390	213	12	50	50	NUM
inlawrev-22390	213	13	;	;	PUNCT
inlawrev-22390	213	14	see	see	VERB
inlawrev-22390	213	15	also	also	ADV
inlawrev-22390	213	16	15	15	NUM
inlawrev-22390	213	17	u.s.c	u.s.c	ADJ
inlawrev-22390	213	18	.	.	PUNCT
inlawrev-22390	214	1	§	§	PROPN
inlawrev-22390	214	2	§	§	PROPN
inlawrev-22390	214	3	77f	77f	NOUN
inlawrev-22390	214	4	,	,	PUNCT
inlawrev-22390	214	5	77	77	NUM
inlawrev-22390	214	6	g.	g.	NOUN
inlawrev-22390	214	7	74	74	NUM
inlawrev-22390	214	8	.	.	PUNCT
inlawrev-22390	214	9	15	15	NUM
inlawrev-22390	214	10	u.s.c	u.s.c	NOUN
inlawrev-22390	214	11	.	.	PUNCT
inlawrev-22390	215	1	§	§	PROPN
inlawrev-22390	215	2	§	§	PROPN
inlawrev-22390	215	3	77c	77c	NOUN
inlawrev-22390	215	4	,	,	PUNCT
inlawrev-22390	215	5	77d	77d	NOUN
inlawrev-22390	215	6	.	.	PUNCT
inlawrev-22390	216	1	75	75	NUM
inlawrev-22390	216	2	.	.	PUNCT
inlawrev-22390	217	1	i	i	PRON
inlawrev-22390	217	2	d.	d.	PROPN
inlawrev-22390	217	3	§	§	PROPN
inlawrev-22390	217	4	§	§	PROPN
inlawrev-22390	217	5	77c(a	77c(a	NUM
inlawrev-22390	217	6	)	)	PUNCT
inlawrev-22390	217	7	,	,	PUNCT
inlawrev-22390	217	8	77d(a	77d(a	NUM
inlawrev-22390	217	9	)	)	PUNCT
inlawrev-22390	217	10	.	.	PUNCT
inlawrev-22390	218	1	76	76	NUM
inlawrev-22390	218	2	.	.	PUNCT
inlawrev-22390	219	1	i	i	PRON
inlawrev-22390	219	2	d.	d.	PROPN
inlawrev-22390	219	3	§	§	PROPN
inlawrev-22390	219	4	§	§	PROPN
inlawrev-22390	219	5	77d(a)(6)(d	77d(a)(6)(d	PROPN
inlawrev-22390	219	6	)	)	PUNCT
inlawrev-22390	219	7	,	,	PUNCT
inlawrev-22390	219	8	77d-1	77d-1	NOUN
inlawrev-22390	219	9	.	.	PUNCT
inlawrev-22390	219	10	77	77	NUM
inlawrev-22390	219	11	.	.	PUNCT
inlawrev-22390	220	1	michael	michael	PROPN
inlawrev-22390	220	2	vignone	vignone	PROPN
inlawrev-22390	220	3	,	,	PUNCT
inlawrev-22390	220	4	inside	inside	ADP
inlawrev-22390	220	5	equity	equity	NOUN
inlawrev-22390	220	6	-	-	PUNCT
inlawrev-22390	220	7	based	base	VERB
inlawrev-22390	220	8	crowdfunding	crowdfunding	NOUN
inlawrev-22390	220	9	:	:	PUNCT
inlawrev-22390	220	10	online	online	ADJ
inlawrev-22390	220	11	financing	financing	NOUN
inlawrev-22390	220	12	alternatives	alternative	NOUN
inlawrev-22390	220	13	for	for	ADP
inlawrev-22390	220	14	small	small	ADJ
inlawrev-22390	220	15	businesses	business	NOUN
inlawrev-22390	220	16	,	,	PUNCT
inlawrev-22390	220	17	91	91	NUM
inlawrev-22390	220	18	chi	chi	NOUN
inlawrev-22390	220	19	.	.	PUNCT
inlawrev-22390	221	1	kent	kent	PROPN
inlawrev-22390	221	2	l.	l.	PROPN
inlawrev-22390	221	3	rev	rev	PROPN
inlawrev-22390	221	4	.	.	PROPN
inlawrev-22390	221	5	803	803	NUM
inlawrev-22390	221	6	,	,	PUNCT
inlawrev-22390	221	7	810	810	NUM
inlawrev-22390	221	8	-	-	SYM
inlawrev-22390	221	9	11	11	NUM
inlawrev-22390	221	10	(	(	PUNCT
inlawrev-22390	221	11	2016	2016	NUM
inlawrev-22390	221	12	)	)	PUNCT
inlawrev-22390	221	13	.	.	PUNCT
inlawrev-22390	222	1	78	78	NUM
inlawrev-22390	222	2	.	.	X
inlawrev-22390	223	1	15	15	NUM
inlawrev-22390	223	2	u.s.c	u.s.c	NOUN
inlawrev-22390	223	3	.	.	PUNCT
inlawrev-22390	224	1	§	§	PROPN
inlawrev-22390	224	2	77c(a)(11	77c(a)(11	NUM
inlawrev-22390	224	3	)	)	PUNCT
inlawrev-22390	224	4	.	.	PUNCT
inlawrev-22390	225	1	79	79	NUM
inlawrev-22390	225	2	.	.	PUNCT
inlawrev-22390	226	1	i	i	PRON
inlawrev-22390	226	2	d.	d.	PROPN
inlawrev-22390	226	3	80	80	NUM
inlawrev-22390	226	4	.	.	PUNCT
inlawrev-22390	227	1	pierce	pierce	PROPN
inlawrev-22390	227	2	-	-	PUNCT
inlawrev-22390	227	3	wright	wright	PROPN
inlawrev-22390	227	4	,	,	PUNCT
inlawrev-22390	227	5	supra	supra	PROPN
inlawrev-22390	227	6	note	note	PROPN
inlawrev-22390	227	7	56	56	NUM
inlawrev-22390	227	8	,	,	PUNCT
inlawrev-22390	227	9	at	at	ADP
inlawrev-22390	227	10	862	862	NUM
inlawrev-22390	227	11	.	.	PUNCT
inlawrev-22390	228	1	81	81	NUM
inlawrev-22390	228	2	.	.	PUNCT
inlawrev-22390	229	1	i	i	PRON
inlawrev-22390	229	2	d.	d.	PROPN
inlawrev-22390	229	3	82	82	NUM
inlawrev-22390	229	4	.	.	PUNCT
inlawrev-22390	230	1	vignone	vignone	PROPN
inlawrev-22390	230	2	,	,	PUNCT
inlawrev-22390	230	3	supra	supra	PROPN
inlawrev-22390	230	4	note	note	NOUN
inlawrev-22390	230	5	77	77	NUM
inlawrev-22390	230	6	,	,	PUNCT
inlawrev-22390	230	7	at	at	ADP
inlawrev-22390	230	8	811	811	NUM
inlawrev-22390	230	9	.	.	PUNCT
inlawrev-22390	231	1	2018	2018	NUM
inlawrev-22390	231	2	]	]	PUNCT
inlawrev-22390	231	3	false	false	ADJ
inlawrev-22390	231	4	start	start	NOUN
inlawrev-22390	231	5	:	:	PUNCT
inlawrev-22390	231	6	carving	carve	VERB
inlawrev-22390	231	7	a	a	DET
inlawrev-22390	231	8	niche	niche	NOUN
inlawrev-22390	231	9	285	285	NUM
inlawrev-22390	231	10	state	state	NOUN
inlawrev-22390	231	11	-	-	PUNCT
inlawrev-22390	231	12	based	base	VERB
inlawrev-22390	231	13	regulation	regulation	NOUN
inlawrev-22390	231	14	crowdfunding	crowdfunde	VERB
inlawrev-22390	231	15	under	under	ADP
inlawrev-22390	231	16	this	this	PRON
inlawrev-22390	231	17	exemption.83	exemption.83	ADJ
inlawrev-22390	231	18	in	in	ADP
inlawrev-22390	231	19	addition	addition	NOUN
inlawrev-22390	231	20	to	to	ADP
inlawrev-22390	231	21	this	this	DET
inlawrev-22390	231	22	intrastate	intrastate	ADJ
inlawrev-22390	231	23	exemption	exemption	NOUN
inlawrev-22390	231	24	,	,	PUNCT
inlawrev-22390	231	25	another	another	DET
inlawrev-22390	231	26	exemption	exemption	NOUN
inlawrev-22390	231	27	relevant	relevant	ADJ
inlawrev-22390	231	28	to	to	ADP
inlawrev-22390	231	29	startups	startup	NOUN
inlawrev-22390	231	30	and	and	CCONJ
inlawrev-22390	231	31	small	small	ADJ
inlawrev-22390	231	32	businesses	business	NOUN
inlawrev-22390	231	33	prior	prior	ADV
inlawrev-22390	231	34	to	to	ADP
inlawrev-22390	231	35	the	the	DET
inlawrev-22390	231	36	jobs	job	NOUN
inlawrev-22390	231	37	act	act	NOUN
inlawrev-22390	231	38	allowed	allow	VERB
inlawrev-22390	231	39	offers	offer	NOUN
inlawrev-22390	231	40	to	to	ADP
inlawrev-22390	231	41	investors	investor	NOUN
inlawrev-22390	231	42	who	who	PRON
inlawrev-22390	231	43	met	meet	VERB
inlawrev-22390	231	44	certain	certain	ADJ
inlawrev-22390	231	45	sophistication	sophistication	NOUN
inlawrev-22390	231	46	requirements.84	requirements.84	ADP
inlawrev-22390	232	1	the	the	DET
inlawrev-22390	232	2	1933	1933	NUM
inlawrev-22390	232	3	act	act	NOUN
inlawrev-22390	232	4	created	create	VERB
inlawrev-22390	232	5	an	an	DET
inlawrev-22390	232	6	exemption	exemption	NOUN
inlawrev-22390	232	7	for	for	ADP
inlawrev-22390	232	8	transactions	transaction	NOUN
inlawrev-22390	232	9	“	"	PUNCT
inlawrev-22390	232	10	not	not	PART
inlawrev-22390	232	11	involving	involve	VERB
inlawrev-22390	232	12	any	any	DET
inlawrev-22390	232	13	public	public	ADJ
inlawrev-22390	232	14	offering	offering	NOUN
inlawrev-22390	232	15	”	"	PUNCT
inlawrev-22390	232	16	called	call	VERB
inlawrev-22390	232	17	“	"	PUNCT
inlawrev-22390	232	18	private	private	ADJ
inlawrev-22390	232	19	placements	placement	NOUN
inlawrev-22390	232	20	.	.	PUNCT
inlawrev-22390	233	1	”85	”85	VERB
inlawrev-22390	233	2	because	because	SCONJ
inlawrev-22390	233	3	exempted	exempt	VERB
inlawrev-22390	233	4	transactions	transaction	NOUN
inlawrev-22390	233	5	were	be	AUX
inlawrev-22390	233	6	generally	generally	ADV
inlawrev-22390	233	7	created	create	VERB
inlawrev-22390	233	8	for	for	ADP
inlawrev-22390	233	9	situations	situation	NOUN
inlawrev-22390	233	10	“	"	PUNCT
inlawrev-22390	233	11	‘	'	PUNCT
inlawrev-22390	233	12	where	where	SCONJ
inlawrev-22390	233	13	there	there	PRON
inlawrev-22390	233	14	is	be	VERB
inlawrev-22390	233	15	no	no	DET
inlawrev-22390	233	16	practical	practical	ADJ
inlawrev-22390	233	17	need	need	NOUN
inlawrev-22390	233	18	for	for	ADP
inlawrev-22390	233	19	[	[	PUNCT
inlawrev-22390	233	20	the	the	DET
inlawrev-22390	233	21	1933	1933	NUM
inlawrev-22390	233	22	act	act	PROPN
inlawrev-22390	233	23	’s	’s	PART
inlawrev-22390	233	24	]	]	PUNCT
inlawrev-22390	233	25	application	application	NOUN
inlawrev-22390	233	26	,	,	PUNCT
inlawrev-22390	233	27	’	'	PUNCT
inlawrev-22390	233	28	”	"	PUNCT
inlawrev-22390	233	29	the	the	DET
inlawrev-22390	233	30	supreme	supreme	PROPN
inlawrev-22390	233	31	court	court	PROPN
inlawrev-22390	233	32	held	hold	VERB
inlawrev-22390	233	33	that	that	SCONJ
inlawrev-22390	233	34	the	the	DET
inlawrev-22390	233	35	private	private	ADJ
inlawrev-22390	233	36	placement	placement	NOUN
inlawrev-22390	233	37	exemption	exemption	NOUN
inlawrev-22390	233	38	should	should	AUX
inlawrev-22390	233	39	only	only	ADV
inlawrev-22390	233	40	apply	apply	VERB
inlawrev-22390	233	41	to	to	ADP
inlawrev-22390	233	42	“	"	PUNCT
inlawrev-22390	233	43	those	those	PRON
inlawrev-22390	233	44	who	who	PRON
inlawrev-22390	233	45	are	be	AUX
inlawrev-22390	233	46	shown	show	VERB
inlawrev-22390	233	47	to	to	PART
inlawrev-22390	233	48	be	be	AUX
inlawrev-22390	233	49	able	able	ADJ
inlawrev-22390	233	50	to	to	PART
inlawrev-22390	233	51	fend	fend	VERB
inlawrev-22390	233	52	for	for	ADP
inlawrev-22390	233	53	themselves	themselves	PRON
inlawrev-22390	233	54	.	.	PUNCT
inlawrev-22390	233	55	.	.	PUNCT
inlawrev-22390	233	56	.	.	PUNCT
inlawrev-22390	234	1	.”86	.”86	PUNCT
inlawrev-22390	235	1	the	the	DET
inlawrev-22390	235	2	theory	theory	NOUN
inlawrev-22390	235	3	is	be	AUX
inlawrev-22390	235	4	that	that	SCONJ
inlawrev-22390	235	5	sophisticated	sophisticated	ADJ
inlawrev-22390	235	6	investors	investor	NOUN
inlawrev-22390	235	7	would	would	AUX
inlawrev-22390	235	8	have	have	VERB
inlawrev-22390	235	9	either	either	CCONJ
inlawrev-22390	235	10	1	1	NUM
inlawrev-22390	235	11	)	)	PUNCT
inlawrev-22390	235	12	enough	enough	ADJ
inlawrev-22390	235	13	money	money	NOUN
inlawrev-22390	235	14	to	to	PART
inlawrev-22390	235	15	handle	handle	VERB
inlawrev-22390	235	16	losses	loss	NOUN
inlawrev-22390	235	17	or	or	CCONJ
inlawrev-22390	235	18	2	2	NUM
inlawrev-22390	235	19	)	)	PUNCT
inlawrev-22390	235	20	enough	enough	ADJ
inlawrev-22390	235	21	expertise	expertise	NOUN
inlawrev-22390	235	22	in	in	ADP
inlawrev-22390	235	23	the	the	DET
inlawrev-22390	235	24	market	market	NOUN
inlawrev-22390	235	25	to	to	PART
inlawrev-22390	235	26	make	make	VERB
inlawrev-22390	235	27	informed	informed	ADJ
inlawrev-22390	235	28	investment	investment	NOUN
inlawrev-22390	235	29	decisions.87	decisions.87	NOUN
inlawrev-22390	235	30	because	because	SCONJ
inlawrev-22390	235	31	of	of	ADP
inlawrev-22390	235	32	this	this	DET
inlawrev-22390	235	33	sophistication	sophistication	NOUN
inlawrev-22390	235	34	,	,	PUNCT
inlawrev-22390	235	35	investors	investor	NOUN
inlawrev-22390	235	36	needed	need	VERB
inlawrev-22390	235	37	less	less	ADJ
inlawrev-22390	235	38	protection	protection	NOUN
inlawrev-22390	235	39	and	and	CCONJ
inlawrev-22390	235	40	so	so	ADV
inlawrev-22390	235	41	the	the	DET
inlawrev-22390	235	42	issuers	issuer	NOUN
inlawrev-22390	235	43	were	be	AUX
inlawrev-22390	235	44	subject	subject	ADJ
inlawrev-22390	235	45	to	to	ADP
inlawrev-22390	235	46	less	less	ADJ
inlawrev-22390	235	47	regulation.88	regulation.88	PROPN
inlawrev-22390	235	48	regulation	regulation	NOUN
inlawrev-22390	235	49	d	d	NOUN
inlawrev-22390	235	50	,	,	PUNCT
inlawrev-22390	235	51	promulgated	promulgate	VERB
inlawrev-22390	235	52	by	by	ADP
inlawrev-22390	235	53	the	the	DET
inlawrev-22390	235	54	sec	sec	PROPN
inlawrev-22390	235	55	as	as	ADP
inlawrev-22390	235	56	a	a	DET
inlawrev-22390	235	57	safe	safe	ADJ
inlawrev-22390	235	58	harbor	harbor	NOUN
inlawrev-22390	235	59	for	for	ADP
inlawrev-22390	235	60	compliance	compliance	NOUN
inlawrev-22390	235	61	with	with	ADP
inlawrev-22390	235	62	the	the	DET
inlawrev-22390	235	63	private	private	ADJ
inlawrev-22390	235	64	placement	placement	NOUN
inlawrev-22390	235	65	exemption	exemption	NOUN
inlawrev-22390	235	66	requires	require	VERB
inlawrev-22390	235	67	a	a	DET
inlawrev-22390	235	68	more	more	ADV
inlawrev-22390	235	69	specific	specific	ADJ
inlawrev-22390	235	70	type	type	NOUN
inlawrev-22390	235	71	of	of	ADP
inlawrev-22390	235	72	sophisticated	sophisticated	ADJ
inlawrev-22390	235	73	investor	investor	NOUN
inlawrev-22390	235	74	called	call	VERB
inlawrev-22390	235	75	an	an	DET
inlawrev-22390	235	76	“	"	PUNCT
inlawrev-22390	235	77	accredited	accredited	ADJ
inlawrev-22390	235	78	investor	investor	NOUN
inlawrev-22390	235	79	.	.	PUNCT
inlawrev-22390	236	1	”89	”89	PROPN
inlawrev-22390	237	1	these	these	DET
inlawrev-22390	237	2	exemptions	exemption	NOUN
inlawrev-22390	237	3	are	be	AUX
inlawrev-22390	237	4	where	where	SCONJ
inlawrev-22390	237	5	securities	security	NOUN
inlawrev-22390	237	6	-	-	PUNCT
inlawrev-22390	237	7	based	base	VERB
inlawrev-22390	237	8	startup	startup	NOUN
inlawrev-22390	237	9	funding	funding	NOUN
inlawrev-22390	237	10	has	have	AUX
inlawrev-22390	237	11	typically	typically	ADV
inlawrev-22390	237	12	originated	originate	VERB
inlawrev-22390	237	13	in	in	ADP
inlawrev-22390	237	14	the	the	DET
inlawrev-22390	237	15	past	past	NOUN
inlawrev-22390	237	16	,	,	PUNCT
inlawrev-22390	237	17	but	but	CCONJ
inlawrev-22390	237	18	because	because	SCONJ
inlawrev-22390	237	19	of	of	ADP
inlawrev-22390	237	20	the	the	DET
inlawrev-22390	237	21	strict	strict	ADJ
inlawrev-22390	237	22	sophistication	sophistication	NOUN
inlawrev-22390	237	23	requirements	requirement	NOUN
inlawrev-22390	237	24	that	that	SCONJ
inlawrev-22390	237	25	an	an	DET
inlawrev-22390	237	26	investor	investor	NOUN
inlawrev-22390	237	27	must	must	AUX
inlawrev-22390	237	28	meet	meet	VERB
inlawrev-22390	237	29	to	to	PART
inlawrev-22390	237	30	participate	participate	VERB
inlawrev-22390	237	31	,	,	PUNCT
inlawrev-22390	237	32	only	only	ADV
inlawrev-22390	237	33	about	about	ADV
inlawrev-22390	237	34	7	7	NUM
inlawrev-22390	237	35	%	%	NOUN
inlawrev-22390	237	36	of	of	ADP
inlawrev-22390	237	37	all	all	DET
inlawrev-22390	237	38	households	household	NOUN
inlawrev-22390	237	39	qualify.90	qualify.90	PROPN
inlawrev-22390	237	40	title	title	NOUN
inlawrev-22390	237	41	iii	iii	NUM
inlawrev-22390	237	42	of	of	ADP
inlawrev-22390	237	43	the	the	DET
inlawrev-22390	237	44	jobs	job	NOUN
inlawrev-22390	237	45	act	act	VERB
inlawrev-22390	237	46	created	create	VERB
inlawrev-22390	237	47	investment	investment	NOUN
inlawrev-22390	237	48	opportunities	opportunity	NOUN
inlawrev-22390	237	49	for	for	ADP
inlawrev-22390	237	50	investors	investor	NOUN
inlawrev-22390	237	51	through	through	ADP
inlawrev-22390	237	52	a	a	DET
inlawrev-22390	237	53	new	new	ADJ
inlawrev-22390	237	54	statutory	statutory	ADJ
inlawrev-22390	237	55	exemption	exemption	NOUN
inlawrev-22390	237	56	,	,	PUNCT
inlawrev-22390	237	57	regardless	regardless	ADV
inlawrev-22390	237	58	of	of	ADP
inlawrev-22390	237	59	whether	whether	SCONJ
inlawrev-22390	237	60	they	they	PRON
inlawrev-22390	237	61	meet	meet	VERB
inlawrev-22390	237	62	the	the	DET
inlawrev-22390	237	63	sophistication	sophistication	NOUN
inlawrev-22390	237	64	requirements	requirement	NOUN
inlawrev-22390	237	65	of	of	ADP
inlawrev-22390	237	66	the	the	DET
inlawrev-22390	237	67	prior	prior	ADJ
inlawrev-22390	237	68	regulations.91	regulations.91	NOUN
inlawrev-22390	237	69	now	now	ADV
inlawrev-22390	237	70	sophisticated	sophisticated	ADJ
inlawrev-22390	237	71	and	and	CCONJ
inlawrev-22390	237	72	unsophisticated	unsophisticated	ADJ
inlawrev-22390	237	73	investors	investor	NOUN
inlawrev-22390	237	74	alike	alike	ADV
inlawrev-22390	237	75	can	can	AUX
inlawrev-22390	237	76	participate.92	participate.92	VERB
inlawrev-22390	237	77	some	some	PRON
inlawrev-22390	237	78	have	have	AUX
inlawrev-22390	237	79	called	call	VERB
inlawrev-22390	237	80	this	this	PRON
inlawrev-22390	237	81	a	a	DET
inlawrev-22390	237	82	“	"	PUNCT
inlawrev-22390	237	83	democratization	democratization	NOUN
inlawrev-22390	237	84	of	of	ADP
inlawrev-22390	237	85	capital,”93	capital,”93	NOUN
inlawrev-22390	237	86	while	while	SCONJ
inlawrev-22390	237	87	others	other	NOUN
inlawrev-22390	237	88	view	view	VERB
inlawrev-22390	237	89	it	it	PRON
inlawrev-22390	237	90	as	as	ADP
inlawrev-22390	237	91	exposing	expose	VERB
inlawrev-22390	237	92	the	the	DET
inlawrev-22390	237	93	unwary	unwary	ADJ
inlawrev-22390	237	94	to	to	ADP
inlawrev-22390	237	95	tremendous	tremendous	ADJ
inlawrev-22390	237	96	financial	financial	ADJ
inlawrev-22390	237	97	risk.94	risk.94	NOUN
inlawrev-22390	237	98	83	83	NUM
inlawrev-22390	237	99	.	.	PUNCT
inlawrev-22390	238	1	anthony	anthony	PROPN
inlawrev-22390	238	2	zeoli	zeoli	PROPN
inlawrev-22390	238	3	,	,	PUNCT
inlawrev-22390	238	4	state	state	NOUN
inlawrev-22390	238	5	of	of	ADP
inlawrev-22390	238	6	the	the	DET
inlawrev-22390	238	7	states	state	NOUN
inlawrev-22390	238	8	–	–	PUNCT
inlawrev-22390	238	9	list	list	NOUN
inlawrev-22390	238	10	of	of	ADP
inlawrev-22390	238	11	current	current	ADJ
inlawrev-22390	238	12	active	active	ADJ
inlawrev-22390	238	13	and	and	CCONJ
inlawrev-22390	238	14	proposed	propose	VERB
inlawrev-22390	238	15	intrastate	intrastate	ADJ
inlawrev-22390	238	16	crowdfunding	crowdfunding	NOUN
inlawrev-22390	238	17	exemptions	exemption	NOUN
inlawrev-22390	238	18	(	(	PUNCT
inlawrev-22390	238	19	updated	update	VERB
inlawrev-22390	238	20	)	)	PUNCT
inlawrev-22390	238	21	,	,	PUNCT
inlawrev-22390	238	22	crowdfundinglegalhub.com	crowdfundinglegalhub.com	X
inlawrev-22390	238	23	(	(	PUNCT
inlawrev-22390	238	24	aug	aug	PROPN
inlawrev-22390	238	25	.	.	PROPN
inlawrev-22390	238	26	28	28	NUM
inlawrev-22390	238	27	,	,	PUNCT
inlawrev-22390	238	28	2017	2017	NUM
inlawrev-22390	238	29	)	)	PUNCT
inlawrev-22390	238	30	,	,	PUNCT
inlawrev-22390	238	31	https://crowdfundinglegalhub.com/2017/08/28/2017-state-of-the-states-list-of-current-active-andproposed-intrastate-crowdfunding-exemptions-updated/	https://crowdfundinglegalhub.com/2017/08/28/2017-state-of-the-states-list-of-current-active-andproposed-intrastate-crowdfunding-exemptions-updated/	X
inlawrev-22390	239	1	[	[	X
inlawrev-22390	239	2	https://perma.cc/zm4t-ukb2	https://perma.cc/zm4t-ukb2	X
inlawrev-22390	239	3	]	]	X
inlawrev-22390	239	4	.	.	PUNCT
inlawrev-22390	239	5	84	84	NUM
inlawrev-22390	239	6	.	.	PUNCT
inlawrev-22390	240	1	isaacson	isaacson	PROPN
inlawrev-22390	240	2	,	,	PUNCT
inlawrev-22390	240	3	supra	supra	PROPN
inlawrev-22390	240	4	note	note	PROPN
inlawrev-22390	240	5	6	6	NUM
inlawrev-22390	240	6	,	,	PUNCT
inlawrev-22390	240	7	at	at	ADP
inlawrev-22390	240	8	445	445	NUM
inlawrev-22390	240	9	.	.	PUNCT
inlawrev-22390	241	1	85	85	NUM
inlawrev-22390	241	2	.	.	NOUN
inlawrev-22390	242	1	15	15	NUM
inlawrev-22390	242	2	u.s.c	u.s.c	NOUN
inlawrev-22390	242	3	.	.	PUNCT
inlawrev-22390	243	1	§	§	PROPN
inlawrev-22390	243	2	77d(a)(2	77d(a)(2	PROPN
inlawrev-22390	243	3	)	)	PUNCT
inlawrev-22390	243	4	(	(	PUNCT
inlawrev-22390	243	5	2012	2012	NUM
inlawrev-22390	243	6	)	)	PUNCT
inlawrev-22390	243	7	;	;	PUNCT
inlawrev-22390	243	8	jennifer	jennifer	PROPN
inlawrev-22390	243	9	j.	j.	PROPN
inlawrev-22390	243	10	johnson	johnson	PROPN
inlawrev-22390	243	11	,	,	PUNCT
inlawrev-22390	243	12	private	private	ADJ
inlawrev-22390	243	13	placements	placement	NOUN
inlawrev-22390	243	14	:	:	PUNCT
inlawrev-22390	243	15	a	a	DET
inlawrev-22390	243	16	regulatory	regulatory	ADJ
inlawrev-22390	243	17	black	black	ADJ
inlawrev-22390	243	18	hole	hole	NOUN
inlawrev-22390	243	19	,	,	PUNCT
inlawrev-22390	243	20	35	35	NUM
inlawrev-22390	243	21	del	del	PROPN
inlawrev-22390	243	22	.	.	PROPN
inlawrev-22390	243	23	j.	j.	PROPN
inlawrev-22390	243	24	corp	corp	PROPN
inlawrev-22390	243	25	.	.	PROPN
inlawrev-22390	243	26	l.	l.	PROPN
inlawrev-22390	243	27	151	151	NUM
inlawrev-22390	243	28	,	,	PUNCT
inlawrev-22390	243	29	167	167	NUM
inlawrev-22390	243	30	n.100	n.100	ADJ
inlawrev-22390	243	31	(	(	PUNCT
inlawrev-22390	243	32	2010	2010	NUM
inlawrev-22390	243	33	)	)	PUNCT
inlawrev-22390	243	34	.	.	PUNCT
inlawrev-22390	244	1	86	86	NUM
inlawrev-22390	244	2	.	.	PUNCT
inlawrev-22390	245	1	sec	sec	PROPN
inlawrev-22390	245	2	v.	v.	PROPN
inlawrev-22390	245	3	ralston	ralston	PROPN
inlawrev-22390	245	4	purina	purina	PROPN
inlawrev-22390	245	5	co.	co.	PROPN
inlawrev-22390	245	6	,	,	PUNCT
inlawrev-22390	245	7	346	346	NUM
inlawrev-22390	245	8	u.s	u.s	PROPN
inlawrev-22390	245	9	.	.	PROPN
inlawrev-22390	245	10	119	119	NUM
inlawrev-22390	245	11	,	,	PUNCT
inlawrev-22390	245	12	122	122	NUM
inlawrev-22390	245	13	-	-	SYM
inlawrev-22390	245	14	25	25	NUM
inlawrev-22390	245	15	(	(	PUNCT
inlawrev-22390	245	16	1953	1953	NUM
inlawrev-22390	245	17	)	)	PUNCT
inlawrev-22390	245	18	.	.	PUNCT
inlawrev-22390	246	1	87	87	NUM
inlawrev-22390	246	2	.	.	PUNCT
inlawrev-22390	247	1	hogan	hogan	PROPN
inlawrev-22390	247	2	,	,	PUNCT
inlawrev-22390	247	3	supra	supra	PROPN
inlawrev-22390	247	4	note	note	PROPN
inlawrev-22390	247	5	10	10	NUM
inlawrev-22390	247	6	,	,	PUNCT
inlawrev-22390	247	7	at	at	ADP
inlawrev-22390	247	8	1097	1097	NUM
inlawrev-22390	247	9	.	.	PUNCT
inlawrev-22390	248	1	88	88	NUM
inlawrev-22390	248	2	.	.	PUNCT
inlawrev-22390	249	1	i	i	PRON
inlawrev-22390	249	2	d.	d.	PROPN
inlawrev-22390	249	3	89	89	NUM
inlawrev-22390	249	4	.	.	PUNCT
inlawrev-22390	250	1	johnson	johnson	PROPN
inlawrev-22390	250	2	,	,	PUNCT
inlawrev-22390	250	3	supra	supra	PROPN
inlawrev-22390	250	4	note	note	PROPN
inlawrev-22390	250	5	85	85	NUM
inlawrev-22390	250	6	,	,	PUNCT
inlawrev-22390	250	7	at	at	ADP
inlawrev-22390	250	8	169	169	NUM
inlawrev-22390	250	9	;	;	PUNCT
inlawrev-22390	250	10	see	see	VERB
inlawrev-22390	250	11	generally	generally	ADV
inlawrev-22390	250	12	17	17	NUM
inlawrev-22390	250	13	c.f.r	c.f.r	NOUN
inlawrev-22390	250	14	.	.	PUNCT
inlawrev-22390	251	1	§	§	PROPN
inlawrev-22390	251	2	230.501	230.501	NUM
inlawrev-22390	251	3	(	(	PUNCT
inlawrev-22390	251	4	2017	2017	NUM
inlawrev-22390	251	5	)	)	PUNCT
inlawrev-22390	251	6	.	.	PUNCT
inlawrev-22390	252	1	an	an	DET
inlawrev-22390	252	2	accredited	accredited	ADJ
inlawrev-22390	252	3	investor	investor	NOUN
inlawrev-22390	252	4	can	can	AUX
inlawrev-22390	252	5	be	be	AUX
inlawrev-22390	252	6	an	an	DET
inlawrev-22390	252	7	organization	organization	NOUN
inlawrev-22390	252	8	or	or	CCONJ
inlawrev-22390	252	9	an	an	DET
inlawrev-22390	252	10	individual	individual	NOUN
inlawrev-22390	252	11	.	.	PUNCT
inlawrev-22390	253	1	i	i	PRON
inlawrev-22390	253	2	d.	d.	PROPN
inlawrev-22390	253	3	an	an	DET
inlawrev-22390	253	4	example	example	NOUN
inlawrev-22390	253	5	of	of	ADP
inlawrev-22390	253	6	an	an	DET
inlawrev-22390	253	7	organization	organization	NOUN
inlawrev-22390	253	8	would	would	AUX
inlawrev-22390	253	9	be	be	AUX
inlawrev-22390	253	10	a	a	DET
inlawrev-22390	253	11	bank	bank	NOUN
inlawrev-22390	253	12	,	,	PUNCT
inlawrev-22390	253	13	and	and	CCONJ
inlawrev-22390	253	14	an	an	DET
inlawrev-22390	253	15	individual	individual	NOUN
inlawrev-22390	253	16	would	would	AUX
inlawrev-22390	253	17	be	be	AUX
inlawrev-22390	253	18	a	a	DET
inlawrev-22390	253	19	person	person	NOUN
inlawrev-22390	253	20	with	with	ADP
inlawrev-22390	253	21	a	a	DET
inlawrev-22390	253	22	net	net	ADJ
inlawrev-22390	253	23	worth	worth	NOUN
inlawrev-22390	253	24	more	more	ADJ
inlawrev-22390	253	25	than	than	ADP
inlawrev-22390	253	26	$	$	SYM
inlawrev-22390	253	27	1,000,000	1,000,000	NUM
inlawrev-22390	253	28	or	or	CCONJ
inlawrev-22390	253	29	annual	annual	ADJ
inlawrev-22390	253	30	income	income	NOUN
inlawrev-22390	253	31	in	in	ADP
inlawrev-22390	253	32	excess	excess	NOUN
inlawrev-22390	253	33	of	of	ADP
inlawrev-22390	253	34	$	$	SYM
inlawrev-22390	253	35	200,000	200,000	NUM
inlawrev-22390	253	36	.	.	PUNCT
inlawrev-22390	254	1	i	i	PRON
inlawrev-22390	254	2	d.	d.	PROPN
inlawrev-22390	254	3	90	90	NUM
inlawrev-22390	254	4	.	.	PUNCT
inlawrev-22390	255	1	isaacson	isaacson	PROPN
inlawrev-22390	255	2	,	,	PUNCT
inlawrev-22390	255	3	supra	supra	PROPN
inlawrev-22390	255	4	note	note	PROPN
inlawrev-22390	255	5	6	6	NUM
inlawrev-22390	255	6	,	,	PUNCT
inlawrev-22390	255	7	at	at	ADP
inlawrev-22390	255	8	445	445	NUM
inlawrev-22390	255	9	;	;	PUNCT
inlawrev-22390	255	10	hogan	hogan	PROPN
inlawrev-22390	255	11	,	,	PUNCT
inlawrev-22390	255	12	supra	supra	PROPN
inlawrev-22390	255	13	note	note	PROPN
inlawrev-22390	255	14	10	10	NUM
inlawrev-22390	255	15	,	,	PUNCT
inlawrev-22390	255	16	at	at	ADP
inlawrev-22390	255	17	1111	1111	NUM
inlawrev-22390	255	18	.	.	PUNCT
inlawrev-22390	256	1	91	91	NUM
inlawrev-22390	256	2	.	.	PUNCT
inlawrev-22390	257	1	isaacson	isaacson	PROPN
inlawrev-22390	257	2	,	,	PUNCT
inlawrev-22390	257	3	supra	supra	PROPN
inlawrev-22390	257	4	note	note	PROPN
inlawrev-22390	257	5	6	6	NUM
inlawrev-22390	257	6	,	,	PUNCT
inlawrev-22390	257	7	at	at	ADP
inlawrev-22390	257	8	453	453	NUM
inlawrev-22390	257	9	.	.	NOUN
inlawrev-22390	257	10	92	92	NUM
inlawrev-22390	257	11	.	.	PUNCT
inlawrev-22390	258	1	i	i	PRON
inlawrev-22390	258	2	d.	d.	PROPN
inlawrev-22390	258	3	93	93	NUM
inlawrev-22390	258	4	.	.	PUNCT
inlawrev-22390	259	1	i	i	PRON
inlawrev-22390	259	2	d.	d.	PROPN
inlawrev-22390	259	3	at	at	ADP
inlawrev-22390	259	4	441	441	NUM
inlawrev-22390	259	5	.	.	PUNCT
inlawrev-22390	260	1	94	94	NUM
inlawrev-22390	260	2	.	.	PUNCT
inlawrev-22390	261	1	yamen	yamen	PROPN
inlawrev-22390	261	2	&	&	CCONJ
inlawrev-22390	261	3	goldfeder	goldfeder	PROPN
inlawrev-22390	261	4	,	,	PUNCT
inlawrev-22390	261	5	supra	supra	PROPN
inlawrev-22390	261	6	note	note	NOUN
inlawrev-22390	261	7	12	12	NUM
inlawrev-22390	261	8	,	,	PUNCT
inlawrev-22390	261	9	at	at	ADP
inlawrev-22390	261	10	58	58	NUM
inlawrev-22390	261	11	-	-	SYM
inlawrev-22390	261	12	59	59	NUM
inlawrev-22390	261	13	.	.	PUNCT
inlawrev-22390	261	14	286	286	NUM
inlawrev-22390	261	15	indiana	indiana	PROPN
inlawrev-22390	261	16	law	law	NOUN
inlawrev-22390	261	17	review	review	NOUN
inlawrev-22390	262	1	[	[	X
inlawrev-22390	262	2	vol	vol	NOUN
inlawrev-22390	262	3	.	.	PUNCT
inlawrev-22390	263	1	51:277	51:277	NUM
inlawrev-22390	263	2	iii	iii	NOUN
inlawrev-22390	263	3	.	.	PUNCT
inlawrev-22390	264	1	what	what	PRON
inlawrev-22390	264	2	does	do	AUX
inlawrev-22390	264	3	title	title	NOUN
inlawrev-22390	264	4	iii	iii	NUM
inlawrev-22390	264	5	of	of	ADP
inlawrev-22390	264	6	the	the	DET
inlawrev-22390	264	7	jobs	job	NOUN
inlawrev-22390	264	8	act	act	NOUN
inlawrev-22390	264	9	do	do	VERB
inlawrev-22390	264	10	?	?	PUNCT
inlawrev-22390	265	1	when	when	SCONJ
inlawrev-22390	265	2	the	the	DET
inlawrev-22390	265	3	final	final	ADJ
inlawrev-22390	265	4	jobs	job	NOUN
inlawrev-22390	265	5	act	act	NOUN
inlawrev-22390	265	6	was	be	AUX
inlawrev-22390	265	7	signed	sign	VERB
inlawrev-22390	265	8	into	into	ADP
inlawrev-22390	265	9	law	law	NOUN
inlawrev-22390	265	10	by	by	ADP
inlawrev-22390	265	11	president	president	PROPN
inlawrev-22390	265	12	obama	obama	PROPN
inlawrev-22390	265	13	in	in	ADP
inlawrev-22390	265	14	april	april	PROPN
inlawrev-22390	265	15	2012	2012	NUM
inlawrev-22390	265	16	,	,	PUNCT
inlawrev-22390	265	17	he	he	PRON
inlawrev-22390	265	18	called	call	VERB
inlawrev-22390	265	19	it	it	PRON
inlawrev-22390	265	20	a	a	DET
inlawrev-22390	265	21	“	"	PUNCT
inlawrev-22390	265	22	game	game	NOUN
inlawrev-22390	265	23	changer	changer	NOUN
inlawrev-22390	265	24	”	"	PUNCT
inlawrev-22390	265	25	for	for	ADP
inlawrev-22390	265	26	startups	startup	NOUN
inlawrev-22390	265	27	and	and	CCONJ
inlawrev-22390	265	28	small	small	ADJ
inlawrev-22390	265	29	businesses	business	NOUN
inlawrev-22390	265	30	because	because	SCONJ
inlawrev-22390	265	31	it	it	PRON
inlawrev-22390	265	32	would	would	AUX
inlawrev-22390	265	33	create	create	VERB
inlawrev-22390	265	34	investing	invest	VERB
inlawrev-22390	265	35	opportunities	opportunity	NOUN
inlawrev-22390	265	36	for	for	ADP
inlawrev-22390	265	37	“	"	PUNCT
inlawrev-22390	265	38	ordinary	ordinary	ADJ
inlawrev-22390	265	39	americans	americans	PROPN
inlawrev-22390	265	40	”	"	PUNCT
inlawrev-22390	265	41	while	while	SCONJ
inlawrev-22390	265	42	simultaneously	simultaneously	ADV
inlawrev-22390	265	43	protecting	protect	VERB
inlawrev-22390	265	44	them	they	PRON
inlawrev-22390	265	45	through	through	ADP
inlawrev-22390	265	46	“	"	PUNCT
inlawrev-22390	265	47	rigorous	rigorous	ADJ
inlawrev-22390	265	48	oversight	oversight	NOUN
inlawrev-22390	265	49	.	.	PUNCT
inlawrev-22390	266	1	”95	”95	NOUN
inlawrev-22390	266	2	simply	simply	ADV
inlawrev-22390	266	3	put	put	VERB
inlawrev-22390	266	4	,	,	PUNCT
inlawrev-22390	266	5	title	title	NOUN
inlawrev-22390	266	6	iii	iii	NUM
inlawrev-22390	266	7	created	create	VERB
inlawrev-22390	266	8	a	a	DET
inlawrev-22390	266	9	statutory	statutory	ADJ
inlawrev-22390	266	10	framework	framework	NOUN
inlawrev-22390	266	11	within	within	ADP
inlawrev-22390	266	12	which	which	PRON
inlawrev-22390	266	13	the	the	DET
inlawrev-22390	266	14	sec	sec	PROPN
inlawrev-22390	266	15	was	be	AUX
inlawrev-22390	266	16	required	require	VERB
inlawrev-22390	266	17	to	to	PART
inlawrev-22390	266	18	develop	develop	VERB
inlawrev-22390	266	19	standards	standard	NOUN
inlawrev-22390	266	20	and	and	CCONJ
inlawrev-22390	266	21	final	final	ADJ
inlawrev-22390	266	22	rules	rule	NOUN
inlawrev-22390	266	23	for	for	ADP
inlawrev-22390	266	24	regulation	regulation	NOUN
inlawrev-22390	266	25	crowdfunding.9	crowdfunding.9	PROPN
inlawrev-22390	266	26	6	6	NUM
inlawrev-22390	266	27	the	the	DET
inlawrev-22390	266	28	statute	statute	NOUN
inlawrev-22390	266	29	itself	itself	PRON
inlawrev-22390	266	30	provides	provide	VERB
inlawrev-22390	266	31	for	for	ADP
inlawrev-22390	266	32	the	the	DET
inlawrev-22390	266	33	new	new	ADJ
inlawrev-22390	266	34	exemption	exemption	NOUN
inlawrev-22390	266	35	under	under	ADP
inlawrev-22390	266	36	the	the	DET
inlawrev-22390	266	37	1933	1933	NUM
inlawrev-22390	266	38	act	act	NOUN
inlawrev-22390	266	39	,	,	PUNCT
inlawrev-22390	266	40	and	and	CCONJ
inlawrev-22390	266	41	sets	set	VERB
inlawrev-22390	266	42	up	up	ADP
inlawrev-22390	266	43	the	the	DET
inlawrev-22390	266	44	general	general	ADJ
inlawrev-22390	266	45	requirements	requirement	NOUN
inlawrev-22390	266	46	for	for	ADP
inlawrev-22390	266	47	investors	investor	NOUN
inlawrev-22390	266	48	,	,	PUNCT
inlawrev-22390	266	49	issuers	issuer	NOUN
inlawrev-22390	266	50	,	,	PUNCT
inlawrev-22390	266	51	and	and	CCONJ
inlawrev-22390	266	52	crowdfunding	crowdfunde	VERB
inlawrev-22390	266	53	portals.97	portals.97	NOUN
inlawrev-22390	266	54	statutory	statutory	ADJ
inlawrev-22390	266	55	and	and	CCONJ
inlawrev-22390	266	56	regulatory	regulatory	ADJ
inlawrev-22390	266	57	requirements	requirement	NOUN
inlawrev-22390	266	58	placed	place	VERB
inlawrev-22390	266	59	on	on	ADP
inlawrev-22390	266	60	individual	individual	ADJ
inlawrev-22390	266	61	investors	investor	NOUN
inlawrev-22390	266	62	provide	provide	VERB
inlawrev-22390	266	63	one	one	NUM
inlawrev-22390	266	64	layer	layer	NOUN
inlawrev-22390	266	65	of	of	ADP
inlawrev-22390	266	66	investor	investor	NOUN
inlawrev-22390	266	67	protection.98	protection.98	NOUN
inlawrev-22390	266	68	for	for	ADP
inlawrev-22390	266	69	example	example	NOUN
inlawrev-22390	266	70	,	,	PUNCT
inlawrev-22390	266	71	the	the	DET
inlawrev-22390	266	72	aggregate	aggregate	ADJ
inlawrev-22390	266	73	amount	amount	NOUN
inlawrev-22390	266	74	any	any	DET
inlawrev-22390	266	75	individual	individual	ADJ
inlawrev-22390	266	76	investor	investor	NOUN
inlawrev-22390	266	77	can	can	AUX
inlawrev-22390	266	78	contribute	contribute	VERB
inlawrev-22390	266	79	toward	toward	ADP
inlawrev-22390	266	80	regulation	regulation	NOUN
inlawrev-22390	266	81	crowdfunding	crowdfunding	NOUN
inlawrev-22390	266	82	campaigns	campaign	NOUN
inlawrev-22390	266	83	is	be	AUX
inlawrev-22390	266	84	capped.99	capped.99	NOUN
inlawrev-22390	266	85	for	for	ADP
inlawrev-22390	266	86	investors	investor	NOUN
inlawrev-22390	266	87	with	with	ADP
inlawrev-22390	266	88	an	an	DET
inlawrev-22390	266	89	annual	annual	ADJ
inlawrev-22390	266	90	income	income	NOUN
inlawrev-22390	266	91	or	or	CCONJ
inlawrev-22390	266	92	net	net	ADJ
inlawrev-22390	266	93	worth	worth	NOUN
inlawrev-22390	266	94	less	less	ADJ
inlawrev-22390	266	95	than	than	ADP
inlawrev-22390	266	96	$	$	SYM
inlawrev-22390	266	97	100,000	100,000	NUM
inlawrev-22390	266	98	,	,	PUNCT
inlawrev-22390	266	99	the	the	DET
inlawrev-22390	266	100	limit	limit	NOUN
inlawrev-22390	266	101	is	be	AUX
inlawrev-22390	266	102	$	$	SYM
inlawrev-22390	266	103	2,000	2,000	NUM
inlawrev-22390	266	104	or	or	CCONJ
inlawrev-22390	266	105	5	5	NUM
inlawrev-22390	266	106	%	%	NOUN
inlawrev-22390	266	107	of	of	ADP
inlawrev-22390	266	108	the	the	DET
inlawrev-22390	266	109	lesser	less	ADJ
inlawrev-22390	266	110	of	of	ADP
inlawrev-22390	266	111	annual	annual	ADJ
inlawrev-22390	266	112	income	income	NOUN
inlawrev-22390	266	113	or	or	CCONJ
inlawrev-22390	266	114	net	net	ADJ
inlawrev-22390	266	115	worth	worth	NOUN
inlawrev-22390	266	116	during	during	ADP
inlawrev-22390	266	117	any	any	DET
inlawrev-22390	266	118	twelve	twelve	NUM
inlawrev-22390	266	119	-	-	PUNCT
inlawrev-22390	266	120	month	month	NOUN
inlawrev-22390	266	121	period.100	period.100	ADP
inlawrev-22390	266	122	if	if	SCONJ
inlawrev-22390	266	123	income	income	NOUN
inlawrev-22390	266	124	or	or	CCONJ
inlawrev-22390	266	125	net	net	ADJ
inlawrev-22390	266	126	worth	worth	NOUN
inlawrev-22390	266	127	is	be	AUX
inlawrev-22390	266	128	greater	great	ADJ
inlawrev-22390	266	129	than	than	ADP
inlawrev-22390	266	130	or	or	CCONJ
inlawrev-22390	266	131	equal	equal	ADJ
inlawrev-22390	266	132	to	to	ADP
inlawrev-22390	266	133	$	$	SYM
inlawrev-22390	266	134	100,000	100,000	NUM
inlawrev-22390	266	135	,	,	PUNCT
inlawrev-22390	266	136	the	the	DET
inlawrev-22390	266	137	limit	limit	NOUN
inlawrev-22390	266	138	is	be	AUX
inlawrev-22390	266	139	10	10	NUM
inlawrev-22390	266	140	%	%	NOUN
inlawrev-22390	266	141	of	of	ADP
inlawrev-22390	266	142	the	the	DET
inlawrev-22390	266	143	lesser	less	ADJ
inlawrev-22390	266	144	of	of	ADP
inlawrev-22390	266	145	income	income	NOUN
inlawrev-22390	266	146	or	or	CCONJ
inlawrev-22390	266	147	net	net	ADJ
inlawrev-22390	266	148	worth	worth	NOUN
inlawrev-22390	266	149	,	,	PUNCT
inlawrev-22390	266	150	not	not	PART
inlawrev-22390	266	151	to	to	PART
inlawrev-22390	266	152	exceed	exceed	VERB
inlawrev-22390	266	153	$	$	SYM
inlawrev-22390	266	154	100,000	100,000	NUM
inlawrev-22390	266	155	in	in	ADP
inlawrev-22390	266	156	any	any	DET
inlawrev-22390	266	157	twelve	twelve	NUM
inlawrev-22390	266	158	-	-	PUNCT
inlawrev-22390	266	159	month	month	NOUN
inlawrev-22390	266	160	period.101	period.101	PROPN
inlawrev-22390	266	161	congress	congress	PROPN
inlawrev-22390	266	162	also	also	ADV
inlawrev-22390	266	163	required	require	VERB
inlawrev-22390	266	164	the	the	DET
inlawrev-22390	266	165	sec	sec	PROPN
inlawrev-22390	266	166	to	to	PART
inlawrev-22390	266	167	develop	develop	VERB
inlawrev-22390	266	168	mandatory	mandatory	ADJ
inlawrev-22390	266	169	investor	investor	NOUN
inlawrev-22390	266	170	education	education	NOUN
inlawrev-22390	266	171	standards	standard	NOUN
inlawrev-22390	266	172	,	,	PUNCT
inlawrev-22390	266	173	which	which	PRON
inlawrev-22390	266	174	must	must	AUX
inlawrev-22390	266	175	be	be	AUX
inlawrev-22390	266	176	completed	complete	VERB
inlawrev-22390	266	177	by	by	ADP
inlawrev-22390	266	178	potential	potential	ADJ
inlawrev-22390	266	179	investors	investor	NOUN
inlawrev-22390	266	180	before	before	SCONJ
inlawrev-22390	266	181	any	any	DET
inlawrev-22390	266	182	investment	investment	NOUN
inlawrev-22390	266	183	is	be	AUX
inlawrev-22390	266	184	made.102	made.102	PRON
inlawrev-22390	266	185	the	the	DET
inlawrev-22390	266	186	sec	sec	PROPN
inlawrev-22390	266	187	gave	give	VERB
inlawrev-22390	266	188	the	the	DET
inlawrev-22390	266	189	individual	individual	ADJ
inlawrev-22390	266	190	platforms	platform	NOUN
inlawrev-22390	266	191	some	some	DET
inlawrev-22390	266	192	freedom	freedom	NOUN
inlawrev-22390	266	193	in	in	ADP
inlawrev-22390	266	194	developing	develop	VERB
inlawrev-22390	266	195	the	the	DET
inlawrev-22390	266	196	educational	educational	ADJ
inlawrev-22390	266	197	component	component	NOUN
inlawrev-22390	266	198	,	,	PUNCT
inlawrev-22390	266	199	but	but	CCONJ
inlawrev-22390	266	200	essentially	essentially	ADV
inlawrev-22390	266	201	the	the	DET
inlawrev-22390	266	202	platform	platform	NOUN
inlawrev-22390	266	203	must	must	AUX
inlawrev-22390	266	204	inform	inform	VERB
inlawrev-22390	266	205	the	the	DET
inlawrev-22390	266	206	investor	investor	NOUN
inlawrev-22390	266	207	about	about	ADP
inlawrev-22390	266	208	the	the	DET
inlawrev-22390	266	209	risks	risk	NOUN
inlawrev-22390	266	210	generally	generally	ADV
inlawrev-22390	266	211	involved	involve	VERB
inlawrev-22390	266	212	with	with	ADP
inlawrev-22390	266	213	this	this	DET
inlawrev-22390	266	214	kind	kind	NOUN
inlawrev-22390	266	215	of	of	ADP
inlawrev-22390	266	216	investing.103	investing.103	NOUN
inlawrev-22390	266	217	the	the	DET
inlawrev-22390	266	218	jobs	job	NOUN
inlawrev-22390	266	219	act	act	NOUN
inlawrev-22390	266	220	also	also	ADV
inlawrev-22390	266	221	creates	create	VERB
inlawrev-22390	266	222	a	a	DET
inlawrev-22390	266	223	private	private	ADJ
inlawrev-22390	266	224	right	right	NOUN
inlawrev-22390	266	225	of	of	ADP
inlawrev-22390	266	226	action	action	NOUN
inlawrev-22390	266	227	for	for	ADP
inlawrev-22390	266	228	investors	investor	NOUN
inlawrev-22390	266	229	against	against	ADP
inlawrev-22390	266	230	issuers	issuer	NOUN
inlawrev-22390	266	231	if	if	SCONJ
inlawrev-22390	266	232	the	the	DET
inlawrev-22390	266	233	issuer	issuer	NOUN
inlawrev-22390	266	234	by	by	ADP
inlawrev-22390	266	235	“	"	PUNCT
inlawrev-22390	266	236	any	any	DET
inlawrev-22390	266	237	means	mean	NOUN
inlawrev-22390	266	238	of	of	ADP
inlawrev-22390	266	239	any	any	DET
inlawrev-22390	266	240	written	write	VERB
inlawrev-22390	266	241	or	or	CCONJ
inlawrev-22390	266	242	oral	oral	ADJ
inlawrev-22390	266	243	communication	communication	NOUN
inlawrev-22390	266	244	.	.	PUNCT
inlawrev-22390	266	245	.	.	PUNCT
inlawrev-22390	267	1	.	.	PUNCT
inlawrev-22390	268	1	makes	make	VERB
inlawrev-22390	268	2	an	an	DET
inlawrev-22390	268	3	untrue	untrue	ADJ
inlawrev-22390	268	4	statement	statement	NOUN
inlawrev-22390	268	5	of	of	ADP
inlawrev-22390	268	6	a	a	DET
inlawrev-22390	268	7	material	material	ADJ
inlawrev-22390	268	8	fact	fact	NOUN
inlawrev-22390	268	9	or	or	CCONJ
inlawrev-22390	268	10	omits	omit	VERB
inlawrev-22390	268	11	to	to	PART
inlawrev-22390	268	12	state	state	VERB
inlawrev-22390	268	13	a	a	DET
inlawrev-22390	268	14	material	material	ADJ
inlawrev-22390	268	15	fact	fact	NOUN
inlawrev-22390	268	16	required	require	VERB
inlawrev-22390	268	17	to	to	PART
inlawrev-22390	268	18	be	be	AUX
inlawrev-22390	268	19	stated	state	VERB
inlawrev-22390	268	20	.	.	PUNCT
inlawrev-22390	268	21	.	.	PUNCT
inlawrev-22390	268	22	.	.	PUNCT
inlawrev-22390	269	1	.	.	PUNCT
inlawrev-22390	269	2	”	"	PUNCT
inlawrev-22390	270	1	104	104	NUM
inlawrev-22390	270	2	in	in	ADP
inlawrev-22390	270	3	such	such	DET
inlawrev-22390	270	4	an	an	DET
inlawrev-22390	270	5	action	action	NOUN
inlawrev-22390	270	6	,	,	PUNCT
inlawrev-22390	270	7	the	the	DET
inlawrev-22390	270	8	issuer	issuer	NOUN
inlawrev-22390	270	9	has	have	VERB
inlawrev-22390	270	10	the	the	DET
inlawrev-22390	270	11	burden	burden	NOUN
inlawrev-22390	270	12	of	of	ADP
inlawrev-22390	270	13	proof	proof	NOUN
inlawrev-22390	270	14	to	to	PART
inlawrev-22390	270	15	show	show	VERB
inlawrev-22390	270	16	that	that	SCONJ
inlawrev-22390	270	17	it	it	PRON
inlawrev-22390	270	18	both	both	PRON
inlawrev-22390	270	19	did	do	VERB
inlawrev-22390	270	20	not	not	PART
inlawrev-22390	270	21	and	and	CCONJ
inlawrev-22390	270	22	could	could	AUX
inlawrev-22390	270	23	not	not	PART
inlawrev-22390	270	24	know	know	VERB
inlawrev-22390	270	25	about	about	ADP
inlawrev-22390	270	26	the	the	DET
inlawrev-22390	270	27	omission	omission	NOUN
inlawrev-22390	270	28	or	or	CCONJ
inlawrev-22390	270	29	falsity	falsity	NOUN
inlawrev-22390	270	30	of	of	ADP
inlawrev-22390	270	31	the	the	DET
inlawrev-22390	270	32	statement.105	statement.105	PROPN
inlawrev-22390	270	33	issuers	issuer	NOUN
inlawrev-22390	270	34	are	be	AUX
inlawrev-22390	270	35	also	also	ADV
inlawrev-22390	270	36	subject	subject	ADJ
inlawrev-22390	270	37	to	to	ADP
inlawrev-22390	270	38	statutory	statutory	ADJ
inlawrev-22390	270	39	requirements.106	requirements.106	NOUN
inlawrev-22390	270	40	for	for	ADP
inlawrev-22390	270	41	example	example	NOUN
inlawrev-22390	270	42	,	,	PUNCT
inlawrev-22390	270	43	issuers	issuer	NOUN
inlawrev-22390	270	44	are	be	AUX
inlawrev-22390	270	45	95	95	NUM
inlawrev-22390	270	46	.	.	PUNCT
inlawrev-22390	271	1	press	press	NOUN
inlawrev-22390	271	2	release	release	NOUN
inlawrev-22390	271	3	,	,	PUNCT
inlawrev-22390	271	4	white	white	PROPN
inlawrev-22390	271	5	house	house	PROPN
inlawrev-22390	271	6	,	,	PUNCT
inlawrev-22390	271	7	president	president	PROPN
inlawrev-22390	271	8	barack	barack	PROPN
inlawrev-22390	271	9	obama	obama	PROPN
inlawrev-22390	271	10	,	,	PUNCT
inlawrev-22390	271	11	remarks	remark	NOUN
inlawrev-22390	271	12	by	by	ADP
inlawrev-22390	271	13	the	the	DET
inlawrev-22390	271	14	president	president	PROPN
inlawrev-22390	271	15	at	at	ADP
inlawrev-22390	271	16	jobs	job	NOUN
inlawrev-22390	271	17	act	act	PROPN
inlawrev-22390	271	18	bill	bill	PROPN
inlawrev-22390	271	19	signing	signing	NOUN
inlawrev-22390	271	20	(	(	PUNCT
inlawrev-22390	271	21	apr	apr	PROPN
inlawrev-22390	271	22	.	.	PROPN
inlawrev-22390	271	23	5	5	NUM
inlawrev-22390	271	24	,	,	PUNCT
inlawrev-22390	271	25	2012	2012	NUM
inlawrev-22390	271	26	,	,	PUNCT
inlawrev-22390	271	27	2:36	2:36	NUM
inlawrev-22390	271	28	pm	pm	NOUN
inlawrev-22390	271	29	)	)	PUNCT
inlawrev-22390	271	30	,	,	PUNCT
inlawrev-22390	271	31	available	available	ADJ
inlawrev-22390	271	32	at	at	ADP
inlawrev-22390	271	33	https://obamawhitehouse.archives.gov/thepress-office/2012/04/05/remarks-president-jobs-act-bill-signing	https://obamawhitehouse.archives.gov/thepress-office/2012/04/05/remarks-president-jobs-act-bill-signe	VERB
inlawrev-22390	271	34	[	[	X
inlawrev-22390	271	35	https://perma.cc/m25d-scme	https://perma.cc/m25d-scme	PROPN
inlawrev-22390	271	36	]	]	X
inlawrev-22390	271	37	.	.	PUNCT
inlawrev-22390	272	1	96	96	X
inlawrev-22390	272	2	.	.	PUNCT
inlawrev-22390	273	1	see	see	VERB
inlawrev-22390	273	2	generally	generally	ADV
inlawrev-22390	273	3	jobs	job	NOUN
inlawrev-22390	273	4	act	act	PROPN
inlawrev-22390	273	5	,	,	PUNCT
inlawrev-22390	273	6	pub	pub	NOUN
inlawrev-22390	273	7	.	.	PUNCT
inlawrev-22390	274	1	l.	l.	PROPN
inlawrev-22390	274	2	no	no	INTJ
inlawrev-22390	274	3	.	.	PROPN
inlawrev-22390	275	1	112	112	NUM
inlawrev-22390	275	2	-	-	SYM
inlawrev-22390	275	3	106	106	NUM
inlawrev-22390	275	4	§	§	PROPN
inlawrev-22390	275	5	§	§	PROPN
inlawrev-22390	275	6	301	301	NUM
inlawrev-22390	275	7	-	-	SYM
inlawrev-22390	275	8	05	05	NUM
inlawrev-22390	275	9	,	,	PUNCT
inlawrev-22390	275	10	126	126	NUM
inlawrev-22390	275	11	stat	stat	NOUN
inlawrev-22390	275	12	.	.	PUNCT
inlawrev-22390	276	1	306	306	NUM
inlawrev-22390	276	2	,	,	PUNCT
inlawrev-22390	276	3	315	315	NUM
inlawrev-22390	276	4	-	-	SYM
inlawrev-22390	276	5	23	23	NUM
inlawrev-22390	276	6	(	(	PUNCT
inlawrev-22390	276	7	2012	2012	NUM
inlawrev-22390	276	8	)	)	PUNCT
inlawrev-22390	276	9	.	.	PUNCT
inlawrev-22390	277	1	97	97	NUM
inlawrev-22390	277	2	.	.	PUNCT
inlawrev-22390	278	1	see	see	VERB
inlawrev-22390	278	2	generally	generally	ADV
inlawrev-22390	278	3	i	i	PRON
inlawrev-22390	278	4	d.	d.	PROPN
inlawrev-22390	278	5	98	98	NUM
inlawrev-22390	278	6	.	.	PUNCT
inlawrev-22390	279	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	279	2	,	,	PUNCT
inlawrev-22390	279	3	80	80	NUM
inlawrev-22390	279	4	fed	feed	VERB
inlawrev-22390	279	5	.	.	PUNCT
inlawrev-22390	280	1	reg	reg	PROPN
inlawrev-22390	280	2	.	.	PUNCT
inlawrev-22390	281	1	71,388	71,388	NUM
inlawrev-22390	281	2	,	,	PUNCT
inlawrev-22390	281	3	71,394	71,394	NUM
inlawrev-22390	281	4	(	(	PUNCT
inlawrev-22390	281	5	nov	nov	PROPN
inlawrev-22390	281	6	.	.	PROPN
inlawrev-22390	281	7	16	16	NUM
inlawrev-22390	281	8	,	,	PUNCT
inlawrev-22390	281	9	2015	2015	NUM
inlawrev-22390	281	10	)	)	PUNCT
inlawrev-22390	281	11	.	.	PUNCT
inlawrev-22390	282	1	99	99	NUM
inlawrev-22390	282	2	.	.	NOUN
inlawrev-22390	282	3	15	15	NUM
inlawrev-22390	282	4	u.s.c	u.s.c	NOUN
inlawrev-22390	282	5	.	.	PUNCT
inlawrev-22390	283	1	§	§	PROPN
inlawrev-22390	283	2	77d(a)(6)(b	77d(a)(6)(b	PROPN
inlawrev-22390	283	3	)	)	PUNCT
inlawrev-22390	283	4	(	(	PUNCT
inlawrev-22390	283	5	2012	2012	NUM
inlawrev-22390	283	6	)	)	PUNCT
inlawrev-22390	283	7	.	.	PUNCT
inlawrev-22390	284	1	100	100	NUM
inlawrev-22390	284	2	.	.	PUNCT
inlawrev-22390	285	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	285	2	,	,	PUNCT
inlawrev-22390	285	3	80	80	NUM
inlawrev-22390	285	4	fed	feed	VERB
inlawrev-22390	285	5	.	.	PUNCT
inlawrev-22390	286	1	reg	reg	PROPN
inlawrev-22390	286	2	.	.	PUNCT
inlawrev-22390	287	1	at	at	ADP
inlawrev-22390	287	2	71,390	71,390	NUM
inlawrev-22390	287	3	.	.	PUNCT
inlawrev-22390	288	1	101	101	NUM
inlawrev-22390	288	2	.	.	PUNCT
inlawrev-22390	289	1	i	i	PRON
inlawrev-22390	289	2	d.	d.	PROPN
inlawrev-22390	289	3	102	102	NUM
inlawrev-22390	289	4	.	.	PUNCT
inlawrev-22390	290	1	i	i	PRON
inlawrev-22390	290	2	d.	d.	PROPN
inlawrev-22390	290	3	at	at	ADP
inlawrev-22390	290	4	71,439	71,439	NUM
inlawrev-22390	290	5	-	-	SYM
inlawrev-22390	290	6	41	41	NUM
inlawrev-22390	290	7	.	.	PUNCT
inlawrev-22390	290	8	103	103	NUM
inlawrev-22390	290	9	.	.	PUNCT
inlawrev-22390	291	1	i	i	PRON
inlawrev-22390	291	2	d.	d.	PROPN
inlawrev-22390	291	3	at	at	ADP
inlawrev-22390	291	4	71,438	71,438	NUM
inlawrev-22390	291	5	-	-	SYM
inlawrev-22390	291	6	40	40	NUM
inlawrev-22390	291	7	.	.	PUNCT
inlawrev-22390	292	1	104	104	NUM
inlawrev-22390	292	2	.	.	PUNCT
inlawrev-22390	293	1	jobs	job	NOUN
inlawrev-22390	293	2	act	act	PROPN
inlawrev-22390	293	3	,	,	PUNCT
inlawrev-22390	293	4	pub	pub	NOUN
inlawrev-22390	293	5	.	.	PUNCT
inlawrev-22390	294	1	l.	l.	PROPN
inlawrev-22390	294	2	no	no	INTJ
inlawrev-22390	294	3	.	.	PROPN
inlawrev-22390	295	1	112	112	NUM
inlawrev-22390	295	2	-	-	SYM
inlawrev-22390	295	3	106	106	NUM
inlawrev-22390	295	4	§	§	PROPN
inlawrev-22390	295	5	302	302	NUM
inlawrev-22390	295	6	,	,	PUNCT
inlawrev-22390	295	7	126	126	NUM
inlawrev-22390	295	8	stat	stat	NOUN
inlawrev-22390	295	9	.	.	PUNCT
inlawrev-22390	296	1	306	306	NUM
inlawrev-22390	296	2	,	,	PUNCT
inlawrev-22390	296	3	318	318	NUM
inlawrev-22390	296	4	-	-	SYM
inlawrev-22390	296	5	19	19	NUM
inlawrev-22390	296	6	(	(	PUNCT
inlawrev-22390	296	7	2012	2012	NUM
inlawrev-22390	296	8	)	)	PUNCT
inlawrev-22390	296	9	.	.	PUNCT
inlawrev-22390	297	1	105	105	NUM
inlawrev-22390	297	2	.	.	PUNCT
inlawrev-22390	298	1	i	i	PRON
inlawrev-22390	298	2	d.	d.	PROPN
inlawrev-22390	298	3	106	106	NUM
inlawrev-22390	298	4	.	.	PUNCT
inlawrev-22390	298	5	15	15	NUM
inlawrev-22390	298	6	u.s.c	u.s.c	NOUN
inlawrev-22390	298	7	.	.	PUNCT
inlawrev-22390	299	1	§	§	PROPN
inlawrev-22390	299	2	77d-1(b	77d-1(b	NUM
inlawrev-22390	299	3	)	)	PUNCT
inlawrev-22390	299	4	(	(	PUNCT
inlawrev-22390	299	5	2012	2012	NUM
inlawrev-22390	299	6	)	)	PUNCT
inlawrev-22390	299	7	.	.	PUNCT
inlawrev-22390	300	1	2018	2018	NUM
inlawrev-22390	300	2	]	]	PUNCT
inlawrev-22390	300	3	false	false	ADJ
inlawrev-22390	300	4	start	start	NOUN
inlawrev-22390	300	5	:	:	PUNCT
inlawrev-22390	300	6	carving	carve	VERB
inlawrev-22390	300	7	a	a	DET
inlawrev-22390	300	8	niche	niche	NOUN
inlawrev-22390	300	9	287	287	NUM
inlawrev-22390	300	10	subject	subject	NOUN
inlawrev-22390	300	11	to	to	ADP
inlawrev-22390	300	12	various	various	ADJ
inlawrev-22390	300	13	mandatory	mandatory	ADJ
inlawrev-22390	300	14	disclosures	disclosure	NOUN
inlawrev-22390	300	15	,	,	PUNCT
inlawrev-22390	300	16	as	as	SCONJ
inlawrev-22390	300	17	summarized	summarize	VERB
inlawrev-22390	300	18	by	by	ADP
inlawrev-22390	300	19	table	table	NOUN
inlawrev-22390	300	20	1	1	NUM
inlawrev-22390	300	21	,	,	PUNCT
inlawrev-22390	300	22	infra,107	infra,107	INTJ
inlawrev-22390	300	23	and	and	CCONJ
inlawrev-22390	300	24	must	must	AUX
inlawrev-22390	300	25	file	file	VERB
inlawrev-22390	300	26	the	the	DET
inlawrev-22390	300	27	new	new	ADJ
inlawrev-22390	300	28	form	form	NOUN
inlawrev-22390	300	29	c	c	NOUN
inlawrev-22390	300	30	with	with	ADP
inlawrev-22390	300	31	the	the	DET
inlawrev-22390	300	32	sec	sec	PROPN
inlawrev-22390	300	33	at	at	ADP
inlawrev-22390	300	34	various	various	ADJ
inlawrev-22390	300	35	times	time	NOUN
inlawrev-22390	300	36	before	before	ADV
inlawrev-22390	300	37	,	,	PUNCT
inlawrev-22390	300	38	during	during	ADP
inlawrev-22390	300	39	,	,	PUNCT
inlawrev-22390	300	40	and	and	CCONJ
inlawrev-22390	300	41	after	after	SCONJ
inlawrev-22390	300	42	the	the	DET
inlawrev-22390	300	43	offering	offering	NOUN
inlawrev-22390	300	44	is	be	AUX
inlawrev-22390	300	45	available	available	ADJ
inlawrev-22390	300	46	to	to	ADP
inlawrev-22390	300	47	investors	investor	NOUN
inlawrev-22390	300	48	,	,	PUNCT
inlawrev-22390	300	49	as	as	SCONJ
inlawrev-22390	300	50	summarized	summarize	VERB
inlawrev-22390	300	51	by	by	ADP
inlawrev-22390	300	52	table	table	NOUN
inlawrev-22390	300	53	2	2	NUM
inlawrev-22390	300	54	,	,	PUNCT
inlawrev-22390	300	55	infra.108	infra.108	VERB
inlawrev-22390	300	56	moreover	moreover	ADV
inlawrev-22390	300	57	,	,	PUNCT
inlawrev-22390	300	58	issuers	issuer	NOUN
inlawrev-22390	300	59	can	can	AUX
inlawrev-22390	300	60	only	only	ADV
inlawrev-22390	300	61	raise	raise	VERB
inlawrev-22390	300	62	a	a	DET
inlawrev-22390	300	63	maximum	maximum	NOUN
inlawrev-22390	300	64	of	of	ADP
inlawrev-22390	300	65	$	$	SYM
inlawrev-22390	300	66	1,000,000	1,000,000	NUM
inlawrev-22390	300	67	during	during	ADP
inlawrev-22390	300	68	any	any	DET
inlawrev-22390	300	69	twelvemonth	twelvemonth	NOUN
inlawrev-22390	300	70	period.109	period.109	VERB
inlawrev-22390	300	71	this	this	DET
inlawrev-22390	300	72	cap	cap	NOUN
inlawrev-22390	300	73	is	be	AUX
inlawrev-22390	300	74	inclusive	inclusive	ADJ
inlawrev-22390	300	75	of	of	ADP
inlawrev-22390	300	76	any	any	DET
inlawrev-22390	300	77	costs	cost	NOUN
inlawrev-22390	300	78	associated	associate	VERB
inlawrev-22390	300	79	with	with	ADP
inlawrev-22390	300	80	making	make	VERB
inlawrev-22390	300	81	the	the	DET
inlawrev-22390	300	82	offer	offer	NOUN
inlawrev-22390	300	83	,	,	PUNCT
inlawrev-22390	300	84	including	include	VERB
inlawrev-22390	300	85	fees	fee	NOUN
inlawrev-22390	300	86	charged	charge	VERB
inlawrev-22390	300	87	by	by	ADP
inlawrev-22390	300	88	the	the	DET
inlawrev-22390	300	89	crowdfunding	crowdfunding	NOUN
inlawrev-22390	300	90	website	website	NOUN
inlawrev-22390	300	91	;	;	PUNCT
inlawrev-22390	300	92	so	so	SCONJ
inlawrev-22390	300	93	a	a	DET
inlawrev-22390	300	94	company	company	NOUN
inlawrev-22390	300	95	must	must	AUX
inlawrev-22390	300	96	take	take	VERB
inlawrev-22390	300	97	this	this	PRON
inlawrev-22390	300	98	into	into	ADP
inlawrev-22390	300	99	account	account	NOUN
inlawrev-22390	300	100	when	when	SCONJ
inlawrev-22390	300	101	determining	determine	VERB
inlawrev-22390	300	102	its	its	PRON
inlawrev-22390	300	103	offering	offering	NOUN
inlawrev-22390	300	104	amount.110	amount.110	NOUN
inlawrev-22390	300	105	although	although	SCONJ
inlawrev-22390	300	106	estimates	estimate	NOUN
inlawrev-22390	300	107	of	of	ADP
inlawrev-22390	300	108	the	the	DET
inlawrev-22390	300	109	final	final	ADJ
inlawrev-22390	300	110	compliance	compliance	NOUN
inlawrev-22390	300	111	costs	cost	NOUN
inlawrev-22390	300	112	vary	vary	VERB
inlawrev-22390	300	113	,	,	PUNCT
inlawrev-22390	300	114	they	they	PRON
inlawrev-22390	300	115	could	could	AUX
inlawrev-22390	300	116	be	be	AUX
inlawrev-22390	300	117	quite	quite	ADV
inlawrev-22390	300	118	substantial.111	substantial.111	ADJ
inlawrev-22390	300	119	table	table	NOUN
inlawrev-22390	300	120	1112	1112	NUM
inlawrev-22390	300	121	summary	summary	NOUN
inlawrev-22390	300	122	of	of	ADP
inlawrev-22390	300	123	issuer	issuer	ADJ
inlawrev-22390	300	124	disclosure	disclosure	NOUN
inlawrev-22390	300	125	requirements	requirement	NOUN
inlawrev-22390	300	126	under	under	ADP
inlawrev-22390	300	127	regulation	regulation	NOUN
inlawrev-22390	300	128	crowdfunding	crowdfunde	VERB
inlawrev-22390	300	129	business	business	NOUN
inlawrev-22390	300	130	information	information	NOUN
inlawrev-22390	300	131	offering	offer	VERB
inlawrev-22390	300	132	information	information	NOUN
inlawrev-22390	300	133	financial	financial	ADJ
inlawrev-22390	300	134	information	information	NOUN
inlawrev-22390	300	135	information	information	NOUN
inlawrev-22390	300	136	about	about	ADP
inlawrev-22390	300	137	all	all	DET
inlawrev-22390	300	138	officers	officer	NOUN
inlawrev-22390	300	139	,	,	PUNCT
inlawrev-22390	300	140	directors	director	NOUN
inlawrev-22390	300	141	,	,	PUNCT
inlawrev-22390	300	142	and	and	CCONJ
inlawrev-22390	300	143	individuals	individual	NOUN
inlawrev-22390	300	144	who	who	PRON
inlawrev-22390	300	145	own	own	VERB
inlawrev-22390	300	146	20	20	NUM
inlawrev-22390	300	147	%	%	NOUN
inlawrev-22390	300	148	or	or	CCONJ
inlawrev-22390	300	149	more	more	ADJ
inlawrev-22390	300	150	of	of	ADP
inlawrev-22390	300	151	the	the	DET
inlawrev-22390	300	152	issuer	issuer	NOUN
inlawrev-22390	300	153	.	.	PUNCT
inlawrev-22390	301	1	description	description	NOUN
inlawrev-22390	301	2	of	of	ADP
inlawrev-22390	301	3	the	the	DET
inlawrev-22390	301	4	intended	intend	VERB
inlawrev-22390	301	5	use	use	NOUN
inlawrev-22390	301	6	of	of	ADP
inlawrev-22390	301	7	all	all	DET
inlawrev-22390	301	8	proceeds	proceed	NOUN
inlawrev-22390	301	9	.	.	PUNCT
inlawrev-22390	302	1	description	description	NOUN
inlawrev-22390	302	2	of	of	ADP
inlawrev-22390	302	3	the	the	DET
inlawrev-22390	302	4	issuer	issuer	NOUN
inlawrev-22390	302	5	’s	’s	PART
inlawrev-22390	302	6	financial	financial	ADJ
inlawrev-22390	302	7	condition	condition	NOUN
inlawrev-22390	302	8	.	.	PUNCT
inlawrev-22390	303	1	description	description	NOUN
inlawrev-22390	303	2	of	of	ADP
inlawrev-22390	303	3	the	the	DET
inlawrev-22390	303	4	business	business	NOUN
inlawrev-22390	303	5	including	include	VERB
inlawrev-22390	303	6	a	a	DET
inlawrev-22390	303	7	business	business	NOUN
inlawrev-22390	303	8	plan	plan	NOUN
inlawrev-22390	303	9	.	.	PUNCT
inlawrev-22390	304	1	information	information	NOUN
inlawrev-22390	304	2	on	on	ADP
inlawrev-22390	304	3	the	the	DET
inlawrev-22390	304	4	price	price	NOUN
inlawrev-22390	304	5	of	of	ADP
inlawrev-22390	304	6	the	the	DET
inlawrev-22390	304	7	offering	offering	NOUN
inlawrev-22390	304	8	,	,	PUNCT
inlawrev-22390	304	9	target	target	NOUN
inlawrev-22390	304	10	amount	amount	NOUN
inlawrev-22390	304	11	to	to	PART
inlawrev-22390	304	12	be	be	AUX
inlawrev-22390	304	13	raised	raise	VERB
inlawrev-22390	304	14	,	,	PUNCT
inlawrev-22390	304	15	and	and	CCONJ
inlawrev-22390	304	16	whether	whether	SCONJ
inlawrev-22390	304	17	investments	investment	NOUN
inlawrev-22390	304	18	beyond	beyond	ADP
inlawrev-22390	304	19	the	the	DET
inlawrev-22390	304	20	original	original	ADJ
inlawrev-22390	304	21	offering	offering	NOUN
inlawrev-22390	304	22	will	will	AUX
inlawrev-22390	304	23	be	be	AUX
inlawrev-22390	304	24	accepted	accept	VERB
inlawrev-22390	304	25	.	.	PUNCT
inlawrev-22390	305	1	financial	financial	ADJ
inlawrev-22390	305	2	statements	statement	NOUN
inlawrev-22390	305	3	that	that	PRON
inlawrev-22390	305	4	may	may	AUX
inlawrev-22390	305	5	need	need	VERB
inlawrev-22390	305	6	to	to	PART
inlawrev-22390	305	7	be	be	AUX
inlawrev-22390	305	8	reviewed	review	VERB
inlawrev-22390	305	9	or	or	CCONJ
inlawrev-22390	305	10	audited	audit	VERB
inlawrev-22390	305	11	by	by	ADP
inlawrev-22390	305	12	an	an	DET
inlawrev-22390	305	13	accountant	accountant	NOUN
inlawrev-22390	305	14	based	base	VERB
inlawrev-22390	305	15	on	on	ADP
inlawrev-22390	305	16	the	the	DET
inlawrev-22390	305	17	amount	amount	NOUN
inlawrev-22390	305	18	of	of	ADP
inlawrev-22390	305	19	the	the	DET
inlawrev-22390	305	20	offering	offering	NOUN
inlawrev-22390	305	21	.	.	PUNCT
inlawrev-22390	306	1	107	107	NUM
inlawrev-22390	306	2	.	.	PUNCT
inlawrev-22390	307	1	see	see	VERB
inlawrev-22390	307	2	infra	infra	NOUN
inlawrev-22390	307	3	table	table	NOUN
inlawrev-22390	307	4	1	1	NUM
inlawrev-22390	307	5	.	.	SYM
inlawrev-22390	307	6	108	108	NUM
inlawrev-22390	307	7	.	.	PUNCT
inlawrev-22390	308	1	see	see	VERB
inlawrev-22390	308	2	infra	infra	NOUN
inlawrev-22390	308	3	table	table	NOUN
inlawrev-22390	308	4	2	2	NUM
inlawrev-22390	308	5	.	.	SYM
inlawrev-22390	308	6	109	109	NUM
inlawrev-22390	308	7	.	.	PUNCT
inlawrev-22390	309	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	309	2	,	,	PUNCT
inlawrev-22390	309	3	80	80	NUM
inlawrev-22390	309	4	fed	feed	VERB
inlawrev-22390	309	5	.	.	PUNCT
inlawrev-22390	310	1	reg	reg	PROPN
inlawrev-22390	310	2	.	.	PUNCT
inlawrev-22390	311	1	71,388	71,388	NUM
inlawrev-22390	311	2	,	,	PUNCT
inlawrev-22390	311	3	71,390	71,390	NUM
inlawrev-22390	311	4	(	(	PUNCT
inlawrev-22390	311	5	nov	nov	PROPN
inlawrev-22390	311	6	.	.	PROPN
inlawrev-22390	311	7	16	16	NUM
inlawrev-22390	311	8	,	,	PUNCT
inlawrev-22390	311	9	2015	2015	NUM
inlawrev-22390	311	10	)	)	PUNCT
inlawrev-22390	311	11	.	.	PUNCT
inlawrev-22390	312	1	110	110	NUM
inlawrev-22390	312	2	.	.	PUNCT
inlawrev-22390	313	1	i	i	PRON
inlawrev-22390	313	2	d.	d.	PROPN
inlawrev-22390	313	3	at	at	ADP
inlawrev-22390	313	4	71,391	71,391	NUM
inlawrev-22390	313	5	.	.	PUNCT
inlawrev-22390	314	1	111	111	NUM
inlawrev-22390	314	2	.	.	PUNCT
inlawrev-22390	315	1	see	see	VERB
inlawrev-22390	315	2	infra	infra	NOUN
inlawrev-22390	315	3	part	part	NOUN
inlawrev-22390	315	4	iv	iv	NOUN
inlawrev-22390	315	5	.	.	PUNCT
inlawrev-22390	315	6	112	112	NUM
inlawrev-22390	315	7	.	.	PUNCT
inlawrev-22390	316	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	316	2	,	,	PUNCT
inlawrev-22390	316	3	80	80	NUM
inlawrev-22390	316	4	fed	feed	VERB
inlawrev-22390	316	5	.	.	PUNCT
inlawrev-22390	317	1	reg	reg	PROPN
inlawrev-22390	317	2	.	.	PUNCT
inlawrev-22390	318	1	at	at	ADP
inlawrev-22390	318	2	71,390	71,390	NUM
inlawrev-22390	318	3	.	.	PUNCT
inlawrev-22390	319	1	288	288	NUM
inlawrev-22390	319	2	indiana	indiana	PROPN
inlawrev-22390	319	3	law	law	NOUN
inlawrev-22390	319	4	review	review	NOUN
inlawrev-22390	319	5	[	[	X
inlawrev-22390	319	6	vol	vol	NOUN
inlawrev-22390	319	7	.	.	PUNCT
inlawrev-22390	320	1	51:277	51:277	NUM
inlawrev-22390	320	2	table	table	NOUN
inlawrev-22390	320	3	2113	2113	NUM
inlawrev-22390	320	4	required	require	VERB
inlawrev-22390	320	5	forms	form	NOUN
inlawrev-22390	320	6	to	to	PART
inlawrev-22390	320	7	comply	comply	VERB
inlawrev-22390	320	8	with	with	ADP
inlawrev-22390	320	9	regulation	regulation	NOUN
inlawrev-22390	320	10	crowdfunding	crowdfunding	NOUN
inlawrev-22390	320	11	which	which	DET
inlawrev-22390	320	12	box	box	NOUN
inlawrev-22390	320	13	on	on	ADP
inlawrev-22390	320	14	form	form	NOUN
inlawrev-22390	320	15	c	c	NOUN
inlawrev-22390	320	16	offering	offer	VERB
inlawrev-22390	320	17	statement	statement	NOUN
inlawrev-22390	320	18	(	(	PUNCT
inlawrev-22390	320	19	form	form	NOUN
inlawrev-22390	320	20	c	c	NOUN
inlawrev-22390	320	21	)	)	PUNCT
inlawrev-22390	320	22	amendment	amendment	NOUN
inlawrev-22390	320	23	(	(	PUNCT
inlawrev-22390	320	24	form	form	NOUN
inlawrev-22390	320	25	c	c	NOUN
inlawrev-22390	320	26	/	/	SYM
inlawrev-22390	320	27	a	a	NOUN
inlawrev-22390	320	28	)	)	PUNCT
inlawrev-22390	320	29	progress	progress	NOUN
inlawrev-22390	320	30	update	update	NOUN
inlawrev-22390	320	31	(	(	PUNCT
inlawrev-22390	320	32	form	form	NOUN
inlawrev-22390	320	33	c	c	NOUN
inlawrev-22390	320	34	-	-	PUNCT
inlawrev-22390	320	35	u	u	NOUN
inlawrev-22390	320	36	)	)	PUNCT
inlawrev-22390	320	37	annual	annual	ADJ
inlawrev-22390	320	38	report	report	NOUN
inlawrev-22390	320	39	(	(	PUNCT
inlawrev-22390	320	40	form	form	NOUN
inlawrev-22390	320	41	car	car	NOUN
inlawrev-22390	320	42	)	)	PUNCT
inlawrev-22390	320	43	termination	termination	NOUN
inlawrev-22390	320	44	of	of	ADP
inlawrev-22390	320	45	reporting	reporting	NOUN
inlawrev-22390	320	46	(	(	PUNCT
inlawrev-22390	320	47	form	form	NOUN
inlawrev-22390	320	48	c	c	NOUN
inlawrev-22390	320	49	-	-	PUNCT
inlawrev-22390	320	50	tr	tr	VERB
inlawrev-22390	320	51	)	)	PUNCT
inlawrev-22390	320	52	when	when	SCONJ
inlawrev-22390	320	53	to	to	PART
inlawrev-22390	320	54	file	file	VERB
inlawrev-22390	320	55	when	when	SCONJ
inlawrev-22390	320	56	making	make	VERB
inlawrev-22390	320	57	the	the	DET
inlawrev-22390	320	58	offering	offering	NOUN
inlawrev-22390	320	59	as	as	SCONJ
inlawrev-22390	320	60	needed	need	VERB
inlawrev-22390	320	61	within	within	ADP
inlawrev-22390	320	62	five	five	NUM
inlawrev-22390	320	63	days	day	NOUN
inlawrev-22390	320	64	of	of	ADP
inlawrev-22390	320	65	reaching	reach	VERB
inlawrev-22390	320	66	intervals	interval	NOUN
inlawrev-22390	320	67	(	(	PUNCT
inlawrev-22390	320	68	such	such	ADJ
inlawrev-22390	320	69	as	as	ADP
inlawrev-22390	320	70	50	50	NUM
inlawrev-22390	320	71	%	%	NOUN
inlawrev-22390	320	72	of	of	ADP
inlawrev-22390	320	73	target	target	NOUN
inlawrev-22390	320	74	)	)	PUNCT
inlawrev-22390	320	75	if	if	SCONJ
inlawrev-22390	320	76	the	the	DET
inlawrev-22390	320	77	platform	platform	NOUN
inlawrev-22390	320	78	does	do	AUX
inlawrev-22390	320	79	not	not	PART
inlawrev-22390	320	80	make	make	VERB
inlawrev-22390	320	81	this	this	DET
inlawrev-22390	320	82	information	information	NOUN
inlawrev-22390	320	83	available	available	ADJ
inlawrev-22390	320	84	to	to	ADP
inlawrev-22390	320	85	investors	investor	NOUN
inlawrev-22390	320	86	and	and	CCONJ
inlawrev-22390	320	87	within	within	ADP
inlawrev-22390	320	88	five	five	NUM
inlawrev-22390	320	89	days	day	NOUN
inlawrev-22390	320	90	of	of	ADP
inlawrev-22390	320	91	reaching	reach	VERB
inlawrev-22390	320	92	the	the	DET
inlawrev-22390	320	93	target	target	NOUN
inlawrev-22390	320	94	amount	amount	NOUN
inlawrev-22390	320	95	or	or	CCONJ
inlawrev-22390	320	96	after	after	ADP
inlawrev-22390	320	97	the	the	DET
inlawrev-22390	320	98	offering	offering	NOUN
inlawrev-22390	320	99	deadline	deadline	NOUN
inlawrev-22390	320	100	.	.	PUNCT
inlawrev-22390	321	1	no	no	ADV
inlawrev-22390	321	2	later	later	ADV
inlawrev-22390	321	3	than	than	ADP
inlawrev-22390	321	4	120	120	NUM
inlawrev-22390	321	5	days	day	NOUN
inlawrev-22390	321	6	after	after	ADP
inlawrev-22390	321	7	the	the	DET
inlawrev-22390	321	8	end	end	NOUN
inlawrev-22390	321	9	of	of	ADP
inlawrev-22390	321	10	fiscal	fiscal	ADJ
inlawrev-22390	321	11	year	year	NOUN
inlawrev-22390	321	12	covered	cover	VERB
inlawrev-22390	321	13	by	by	ADP
inlawrev-22390	321	14	report	report	NOUN
inlawrev-22390	321	15	.	.	PUNCT
inlawrev-22390	321	16	filed	file	VERB
inlawrev-22390	321	17	annually	annually	ADV
inlawrev-22390	321	18	if	if	SCONJ
inlawrev-22390	321	19	securities	security	NOUN
inlawrev-22390	321	20	are	be	AUX
inlawrev-22390	321	21	outstanding	outstanding	ADJ
inlawrev-22390	321	22	or	or	CCONJ
inlawrev-22390	321	23	until	until	SCONJ
inlawrev-22390	321	24	issuer	issuer	NOUN
inlawrev-22390	321	25	can	can	AUX
inlawrev-22390	321	26	file	file	VERB
inlawrev-22390	321	27	form	form	NOUN
inlawrev-22390	321	28	c	c	NOUN
inlawrev-22390	321	29	-	-	PUNCT
inlawrev-22390	321	30	tr	tr	VERB
inlawrev-22390	321	31	.	.	VERB
inlawrev-22390	322	1	within	within	ADP
inlawrev-22390	322	2	five	five	NUM
inlawrev-22390	322	3	days	day	NOUN
inlawrev-22390	322	4	of	of	ADP
inlawrev-22390	322	5	becoming	become	VERB
inlawrev-22390	322	6	eligible	eligible	ADJ
inlawrev-22390	322	7	to	to	PART
inlawrev-22390	322	8	terminate	terminate	VERB
inlawrev-22390	322	9	annual	annual	ADJ
inlawrev-22390	322	10	reporting	reporting	NOUN
inlawrev-22390	322	11	.	.	PUNCT
inlawrev-22390	323	1	what	what	PRON
inlawrev-22390	323	2	it	it	PRON
inlawrev-22390	323	3	must	must	AUX
inlawrev-22390	323	4	contain	contain	VERB
inlawrev-22390	323	5	financial	financial	ADJ
inlawrev-22390	323	6	statements	statement	NOUN
inlawrev-22390	323	7	,	,	PUNCT
inlawrev-22390	323	8	type	type	NOUN
inlawrev-22390	323	9	determined	determine	VERB
inlawrev-22390	323	10	by	by	ADP
inlawrev-22390	323	11	amount	amount	NOUN
inlawrev-22390	323	12	of	of	ADP
inlawrev-22390	323	13	offering	offer	VERB
inlawrev-22390	323	14	basic	basic	ADJ
inlawrev-22390	323	15	company	company	NOUN
inlawrev-22390	323	16	information	information	NOUN
inlawrev-22390	323	17	and	and	CCONJ
inlawrev-22390	323	18	financial	financial	ADJ
inlawrev-22390	323	19	situation	situation	NOUN
inlawrev-22390	323	20	of	of	ADP
inlawrev-22390	323	21	company	company	NOUN
inlawrev-22390	323	22	.	.	PUNCT
inlawrev-22390	324	1	information	information	NOUN
inlawrev-22390	324	2	on	on	ADP
inlawrev-22390	324	3	offering	offer	VERB
inlawrev-22390	324	4	amount	amount	NOUN
inlawrev-22390	324	5	,	,	PUNCT
inlawrev-22390	324	6	etc	etc	X
inlawrev-22390	324	7	.	.	X
inlawrev-22390	325	1	any	any	DET
inlawrev-22390	325	2	material	material	NOUN
inlawrev-22390	325	3	change	change	NOUN
inlawrev-22390	325	4	from	from	ADP
inlawrev-22390	325	5	offering	offer	VERB
inlawrev-22390	325	6	statement	statement	NOUN
inlawrev-22390	325	7	the	the	DET
inlawrev-22390	325	8	total	total	ADJ
inlawrev-22390	325	9	amount	amount	NOUN
inlawrev-22390	325	10	of	of	ADP
inlawrev-22390	325	11	securities	security	NOUN
inlawrev-22390	325	12	sold	sell	VERB
inlawrev-22390	325	13	.	.	PUNCT
inlawrev-22390	326	1	financial	financial	ADJ
inlawrev-22390	326	2	statements	statement	NOUN
inlawrev-22390	326	3	certified	certify	VERB
inlawrev-22390	326	4	by	by	ADP
inlawrev-22390	326	5	officer	officer	NOUN
inlawrev-22390	326	6	of	of	ADP
inlawrev-22390	326	7	the	the	DET
inlawrev-22390	326	8	company	company	NOUN
inlawrev-22390	326	9	company	company	NOUN
inlawrev-22390	326	10	information	information	NOUN
inlawrev-22390	326	11	and	and	CCONJ
inlawrev-22390	326	12	financial	financial	ADJ
inlawrev-22390	326	13	situation	situation	NOUN
inlawrev-22390	326	14	of	of	ADP
inlawrev-22390	326	15	company	company	NOUN
inlawrev-22390	326	16	as	as	SCONJ
inlawrev-22390	326	17	required	require	VERB
inlawrev-22390	326	18	on	on	ADP
inlawrev-22390	326	19	offering	offer	VERB
inlawrev-22390	326	20	statement	statement	NOUN
inlawrev-22390	326	21	.	.	PUNCT
inlawrev-22390	327	1	explanation	explanation	NOUN
inlawrev-22390	327	2	of	of	ADP
inlawrev-22390	327	3	eligibility	eligibility	NOUN
inlawrev-22390	327	4	to	to	PART
inlawrev-22390	327	5	terminate	terminate	VERB
inlawrev-22390	327	6	113	113	NUM
inlawrev-22390	327	7	.	.	PUNCT
inlawrev-22390	328	1	see	see	VERB
inlawrev-22390	328	2	generally	generally	ADV
inlawrev-22390	328	3	i	i	PRON
inlawrev-22390	328	4	d.	d.	PROPN
inlawrev-22390	328	5	at	at	ADP
inlawrev-22390	328	6	71,397	71,397	NUM
inlawrev-22390	328	7	-	-	SYM
inlawrev-22390	328	8	424	424	NUM
inlawrev-22390	328	9	.	.	NOUN
inlawrev-22390	329	1	2018	2018	NUM
inlawrev-22390	329	2	]	]	PUNCT
inlawrev-22390	329	3	false	false	ADJ
inlawrev-22390	329	4	start	start	NOUN
inlawrev-22390	329	5	:	:	PUNCT
inlawrev-22390	329	6	carving	carve	VERB
inlawrev-22390	329	7	a	a	DET
inlawrev-22390	329	8	niche	niche	NOUN
inlawrev-22390	329	9	289	289	NUM
inlawrev-22390	329	10	regulation	regulation	NOUN
inlawrev-22390	329	11	crowdfunding	crowdfunde	VERB
inlawrev-22390	329	12	places	place	NOUN
inlawrev-22390	329	13	limits	limit	NOUN
inlawrev-22390	329	14	on	on	ADP
inlawrev-22390	329	15	how	how	SCONJ
inlawrev-22390	329	16	an	an	DET
inlawrev-22390	329	17	issuer	issuer	NOUN
inlawrev-22390	329	18	can	can	AUX
inlawrev-22390	329	19	promote	promote	VERB
inlawrev-22390	329	20	its	its	PRON
inlawrev-22390	329	21	offering.114	offering.114	NOUN
inlawrev-22390	329	22	although	although	SCONJ
inlawrev-22390	329	23	a	a	DET
inlawrev-22390	329	24	post	post	NOUN
inlawrev-22390	329	25	on	on	ADP
inlawrev-22390	329	26	social	social	ADJ
inlawrev-22390	329	27	media	medium	NOUN
inlawrev-22390	329	28	or	or	CCONJ
inlawrev-22390	329	29	the	the	DET
inlawrev-22390	329	30	issuer	issuer	NOUN
inlawrev-22390	329	31	’s	’s	PART
inlawrev-22390	329	32	website	website	NOUN
inlawrev-22390	329	33	is	be	AUX
inlawrev-22390	329	34	allowed	allow	VERB
inlawrev-22390	329	35	,	,	PUNCT
inlawrev-22390	329	36	it	it	PRON
inlawrev-22390	329	37	must	must	AUX
inlawrev-22390	329	38	direct	direct	VERB
inlawrev-22390	329	39	potential	potential	ADJ
inlawrev-22390	329	40	investors	investor	NOUN
inlawrev-22390	329	41	to	to	ADP
inlawrev-22390	329	42	the	the	DET
inlawrev-22390	329	43	crowdfunding	crowdfunding	NOUN
inlawrev-22390	329	44	platform	platform	NOUN
inlawrev-22390	329	45	and	and	CCONJ
inlawrev-22390	329	46	contain	contain	VERB
inlawrev-22390	329	47	no	no	PRON
inlawrev-22390	329	48	more	more	ADJ
inlawrev-22390	329	49	than	than	ADP
inlawrev-22390	329	50	the	the	DET
inlawrev-22390	329	51	following	follow	VERB
inlawrev-22390	329	52	information	information	NOUN
inlawrev-22390	329	53	:	:	PUNCT
inlawrev-22390	329	54	(	(	PUNCT
inlawrev-22390	329	55	1	1	X
inlawrev-22390	329	56	)	)	PUNCT
inlawrev-22390	329	57	a	a	DET
inlawrev-22390	329	58	statement	statement	NOUN
inlawrev-22390	329	59	that	that	SCONJ
inlawrev-22390	329	60	the	the	DET
inlawrev-22390	329	61	issuer	issuer	NOUN
inlawrev-22390	329	62	is	be	AUX
inlawrev-22390	329	63	conducting	conduct	VERB
inlawrev-22390	329	64	an	an	DET
inlawrev-22390	329	65	offering	offering	NOUN
inlawrev-22390	329	66	,	,	PUNCT
inlawrev-22390	329	67	the	the	DET
inlawrev-22390	329	68	name	name	NOUN
inlawrev-22390	329	69	of	of	ADP
inlawrev-22390	329	70	the	the	DET
inlawrev-22390	329	71	intermediary	intermediary	NOUN
inlawrev-22390	329	72	through	through	ADP
inlawrev-22390	329	73	which	which	PRON
inlawrev-22390	329	74	the	the	DET
inlawrev-22390	329	75	offering	offering	NOUN
inlawrev-22390	329	76	is	be	AUX
inlawrev-22390	329	77	being	be	AUX
inlawrev-22390	329	78	conducted	conduct	VERB
inlawrev-22390	329	79	and	and	CCONJ
inlawrev-22390	329	80	a	a	DET
inlawrev-22390	329	81	link	link	NOUN
inlawrev-22390	329	82	directing	direct	VERB
inlawrev-22390	329	83	the	the	DET
inlawrev-22390	329	84	investor	investor	NOUN
inlawrev-22390	329	85	to	to	ADP
inlawrev-22390	329	86	the	the	DET
inlawrev-22390	329	87	intermediary	intermediary	NOUN
inlawrev-22390	329	88	's	's	PART
inlawrev-22390	329	89	platform	platform	NOUN
inlawrev-22390	329	90	;	;	PUNCT
inlawrev-22390	329	91	(	(	PUNCT
inlawrev-22390	329	92	2	2	X
inlawrev-22390	329	93	)	)	PUNCT
inlawrev-22390	329	94	the	the	DET
inlawrev-22390	329	95	terms	term	NOUN
inlawrev-22390	329	96	of	of	ADP
inlawrev-22390	329	97	the	the	DET
inlawrev-22390	329	98	offering	offering	NOUN
inlawrev-22390	329	99	;	;	PUNCT
inlawrev-22390	329	100	and	and	CCONJ
inlawrev-22390	329	101	(	(	PUNCT
inlawrev-22390	329	102	3	3	X
inlawrev-22390	329	103	)	)	PUNCT
inlawrev-22390	329	104	factual	factual	ADJ
inlawrev-22390	329	105	information	information	NOUN
inlawrev-22390	329	106	about	about	ADP
inlawrev-22390	329	107	the	the	DET
inlawrev-22390	329	108	legal	legal	ADJ
inlawrev-22390	329	109	identity	identity	NOUN
inlawrev-22390	329	110	and	and	CCONJ
inlawrev-22390	329	111	business	business	NOUN
inlawrev-22390	329	112	location	location	NOUN
inlawrev-22390	329	113	of	of	ADP
inlawrev-22390	329	114	the	the	DET
inlawrev-22390	329	115	issuer	issuer	NOUN
inlawrev-22390	329	116	,	,	PUNCT
inlawrev-22390	329	117	limited	limit	VERB
inlawrev-22390	329	118	to	to	ADP
inlawrev-22390	329	119	the	the	DET
inlawrev-22390	329	120	name	name	NOUN
inlawrev-22390	329	121	of	of	ADP
inlawrev-22390	329	122	the	the	DET
inlawrev-22390	329	123	issuer	issuer	NOUN
inlawrev-22390	329	124	of	of	ADP
inlawrev-22390	329	125	the	the	DET
inlawrev-22390	329	126	security	security	NOUN
inlawrev-22390	329	127	,	,	PUNCT
inlawrev-22390	329	128	the	the	DET
inlawrev-22390	329	129	address	address	NOUN
inlawrev-22390	329	130	,	,	PUNCT
inlawrev-22390	329	131	phone	phone	NOUN
inlawrev-22390	329	132	number	number	NOUN
inlawrev-22390	329	133	and	and	CCONJ
inlawrev-22390	329	134	web	web	NOUN
inlawrev-22390	329	135	site	site	NOUN
inlawrev-22390	329	136	of	of	ADP
inlawrev-22390	329	137	the	the	DET
inlawrev-22390	329	138	issuer	issuer	NOUN
inlawrev-22390	329	139	,	,	PUNCT
inlawrev-22390	329	140	the	the	DET
inlawrev-22390	329	141	email	email	NOUN
inlawrev-22390	329	142	address	address	NOUN
inlawrev-22390	329	143	of	of	ADP
inlawrev-22390	329	144	a	a	DET
inlawrev-22390	329	145	representative	representative	NOUN
inlawrev-22390	329	146	of	of	ADP
inlawrev-22390	329	147	the	the	DET
inlawrev-22390	329	148	issuer	issuer	NOUN
inlawrev-22390	329	149	and	and	CCONJ
inlawrev-22390	329	150	a	a	DET
inlawrev-22390	329	151	brief	brief	ADJ
inlawrev-22390	329	152	description	description	NOUN
inlawrev-22390	329	153	of	of	ADP
inlawrev-22390	329	154	the	the	DET
inlawrev-22390	329	155	business	business	NOUN
inlawrev-22390	329	156	of	of	ADP
inlawrev-22390	329	157	the	the	DET
inlawrev-22390	329	158	issuer.115	issuer.115	NOUN
inlawrev-22390	329	159	when	when	SCONJ
inlawrev-22390	329	160	the	the	DET
inlawrev-22390	329	161	sec	sec	PROPN
inlawrev-22390	329	162	proposed	propose	VERB
inlawrev-22390	329	163	these	these	DET
inlawrev-22390	329	164	requirements	requirement	NOUN
inlawrev-22390	329	165	,	,	PUNCT
inlawrev-22390	329	166	it	it	PRON
inlawrev-22390	329	167	received	receive	VERB
inlawrev-22390	329	168	comments	comment	NOUN
inlawrev-22390	329	169	about	about	ADP
inlawrev-22390	329	170	whether	whether	SCONJ
inlawrev-22390	329	171	they	they	PRON
inlawrev-22390	329	172	would	would	AUX
inlawrev-22390	329	173	interfere	interfere	VERB
inlawrev-22390	329	174	with	with	ADP
inlawrev-22390	329	175	the	the	DET
inlawrev-22390	329	176	ability	ability	NOUN
inlawrev-22390	329	177	of	of	ADP
inlawrev-22390	329	178	an	an	DET
inlawrev-22390	329	179	issuer	issuer	NOUN
inlawrev-22390	329	180	to	to	PART
inlawrev-22390	329	181	utilize	utilize	VERB
inlawrev-22390	329	182	social	social	ADJ
inlawrev-22390	329	183	media	medium	NOUN
inlawrev-22390	329	184	to	to	ADP
inlawrev-22390	329	185	its	its	PRON
inlawrev-22390	329	186	full	full	ADJ
inlawrev-22390	329	187	effect.1	effect.1	NOUN
inlawrev-22390	329	188	1	1	NUM
inlawrev-22390	329	189	6	6	NUM
inlawrev-22390	329	190	ultimately	ultimately	ADV
inlawrev-22390	329	191	,	,	PUNCT
inlawrev-22390	329	192	the	the	DET
inlawrev-22390	329	193	sec	sec	PROPN
inlawrev-22390	329	194	decided	decide	VERB
inlawrev-22390	329	195	that	that	SCONJ
inlawrev-22390	329	196	the	the	DET
inlawrev-22390	329	197	rules	rule	NOUN
inlawrev-22390	329	198	would	would	AUX
inlawrev-22390	329	199	not	not	PART
inlawrev-22390	329	200	hinder	hinder	VERB
inlawrev-22390	329	201	social	social	ADJ
inlawrev-22390	329	202	media	medium	NOUN
inlawrev-22390	329	203	usage	usage	NOUN
inlawrev-22390	329	204	because	because	SCONJ
inlawrev-22390	329	205	an	an	DET
inlawrev-22390	329	206	issuer	issuer	NOUN
inlawrev-22390	329	207	does	do	AUX
inlawrev-22390	329	208	not	not	PART
inlawrev-22390	329	209	have	have	VERB
inlawrev-22390	329	210	to	to	PART
inlawrev-22390	329	211	include	include	VERB
inlawrev-22390	329	212	all	all	DET
inlawrev-22390	329	213	the	the	DET
inlawrev-22390	329	214	information	information	NOUN
inlawrev-22390	329	215	cited	cite	VERB
inlawrev-22390	329	216	above	above	ADP
inlawrev-22390	329	217	—	—	PUNCT
inlawrev-22390	329	218	it	it	PRON
inlawrev-22390	329	219	just	just	ADV
inlawrev-22390	329	220	can	can	AUX
inlawrev-22390	329	221	not	not	PART
inlawrev-22390	329	222	include	include	VERB
inlawrev-22390	329	223	any	any	DET
inlawrev-22390	329	224	more.117	more.117	NUM
inlawrev-22390	329	225	two	two	NUM
inlawrev-22390	329	226	-	-	PUNCT
inlawrev-22390	329	227	way	way	NOUN
inlawrev-22390	329	228	communications	communication	NOUN
inlawrev-22390	329	229	with	with	ADP
inlawrev-22390	329	230	potential	potential	ADJ
inlawrev-22390	329	231	investors	investor	NOUN
inlawrev-22390	329	232	are	be	AUX
inlawrev-22390	329	233	more	more	ADV
inlawrev-22390	329	234	limited	limited	ADJ
inlawrev-22390	329	235	and	and	CCONJ
inlawrev-22390	329	236	can	can	AUX
inlawrev-22390	329	237	only	only	ADV
inlawrev-22390	329	238	be	be	AUX
inlawrev-22390	329	239	accomplished	accomplish	VERB
inlawrev-22390	329	240	through	through	ADP
inlawrev-22390	329	241	a	a	DET
inlawrev-22390	329	242	mechanism	mechanism	NOUN
inlawrev-22390	329	243	created	create	VERB
inlawrev-22390	329	244	by	by	ADP
inlawrev-22390	329	245	the	the	DET
inlawrev-22390	329	246	platform	platform	NOUN
inlawrev-22390	329	247	,	,	PUNCT
inlawrev-22390	329	248	such	such	ADJ
inlawrev-22390	329	249	as	as	ADP
inlawrev-22390	329	250	a	a	DET
inlawrev-22390	329	251	comment	comment	NOUN
inlawrev-22390	329	252	feature.118	feature.118	NUM
inlawrev-22390	329	253	iv	iv	NUM
inlawrev-22390	329	254	.	.	PUNCT
inlawrev-22390	330	1	the	the	DET
inlawrev-22390	330	2	debate	debate	NOUN
inlawrev-22390	330	3	controversy	controversy	NOUN
inlawrev-22390	330	4	has	have	AUX
inlawrev-22390	330	5	surrounded	surround	VERB
inlawrev-22390	330	6	regulation	regulation	NOUN
inlawrev-22390	330	7	crowdfunding	crowdfunde	VERB
inlawrev-22390	330	8	from	from	ADP
inlawrev-22390	330	9	the	the	DET
inlawrev-22390	330	10	beginning.119	beginning.119	PROPN
inlawrev-22390	330	11	the	the	DET
inlawrev-22390	330	12	very	very	ADV
inlawrev-22390	330	13	first	first	ADJ
inlawrev-22390	330	14	piece	piece	NOUN
inlawrev-22390	330	15	of	of	ADP
inlawrev-22390	330	16	federal	federal	ADJ
inlawrev-22390	330	17	legislation	legislation	NOUN
inlawrev-22390	330	18	that	that	PRON
inlawrev-22390	330	19	tried	try	VERB
inlawrev-22390	330	20	to	to	PART
inlawrev-22390	330	21	legalize	legalize	VERB
inlawrev-22390	330	22	securities	security	NOUN
inlawrev-22390	330	23	based	base	VERB
inlawrev-22390	330	24	crowdfunding	crowdfunding	NOUN
inlawrev-22390	330	25	earned	earn	VERB
inlawrev-22390	330	26	the	the	DET
inlawrev-22390	330	27	dubious	dubious	ADJ
inlawrev-22390	330	28	nickname	nickname	NOUN
inlawrev-22390	330	29	the	the	DET
inlawrev-22390	330	30	“	"	PUNCT
inlawrev-22390	330	31	boiler	boiler	NOUN
inlawrev-22390	330	32	room	room	NOUN
inlawrev-22390	330	33	legalization	legalization	PROPN
inlawrev-22390	330	34	act	act	PROPN
inlawrev-22390	330	35	”	"	PUNCT
inlawrev-22390	330	36	because	because	SCONJ
inlawrev-22390	330	37	it	it	PRON
inlawrev-22390	330	38	contained	contain	VERB
inlawrev-22390	330	39	so	so	ADV
inlawrev-22390	330	40	few	few	ADJ
inlawrev-22390	330	41	investor	investor	NOUN
inlawrev-22390	330	42	protections	protection	NOUN
inlawrev-22390	330	43	and	and	CCONJ
inlawrev-22390	330	44	almost	almost	ADV
inlawrev-22390	330	45	no	no	PRON
inlawrev-22390	330	46	mandatory	mandatory	ADJ
inlawrev-22390	330	47	disclosures	disclosure	NOUN
inlawrev-22390	330	48	for	for	ADP
inlawrev-22390	330	49	the	the	DET
inlawrev-22390	330	50	business.120	business.120	NOUN
inlawrev-22390	330	51	the	the	DET
inlawrev-22390	330	52	bill	bill	NOUN
inlawrev-22390	330	53	,	,	PUNCT
inlawrev-22390	330	54	called	call	VERB
inlawrev-22390	330	55	the	the	DET
inlawrev-22390	330	56	entrepreneur	entrepreneur	NOUN
inlawrev-22390	330	57	access	access	NOUN
inlawrev-22390	330	58	to	to	ADP
inlawrev-22390	330	59	capital	capital	NOUN
inlawrev-22390	330	60	act,121	act,121	PROPN
inlawrev-22390	330	61	still	still	ADV
inlawrev-22390	330	62	passed	pass	VERB
inlawrev-22390	330	63	the	the	DET
inlawrev-22390	330	64	house	house	NOUN
inlawrev-22390	330	65	by	by	ADP
inlawrev-22390	330	66	a	a	DET
inlawrev-22390	330	67	margin	margin	NOUN
inlawrev-22390	330	68	of	of	ADP
inlawrev-22390	330	69	407	407	NUM
inlawrev-22390	330	70	-	-	SYM
inlawrev-22390	330	71	17.122	17.122	NUM
inlawrev-22390	330	72	after	after	SCONJ
inlawrev-22390	330	73	this	this	DET
inlawrev-22390	330	74	house	house	NOUN
inlawrev-22390	330	75	bill	bill	NOUN
inlawrev-22390	330	76	was	be	AUX
inlawrev-22390	330	77	widely	widely	ADV
inlawrev-22390	330	78	criticized	criticize	VERB
inlawrev-22390	330	79	,	,	PUNCT
inlawrev-22390	330	80	a	a	DET
inlawrev-22390	330	81	senate	senate	PROPN
inlawrev-22390	330	82	version	version	NOUN
inlawrev-22390	330	83	,	,	PUNCT
inlawrev-22390	330	84	unimaginatively	unimaginatively	ADV
inlawrev-22390	330	85	called	call	VERB
inlawrev-22390	330	86	the	the	DET
inlawrev-22390	330	87	crowdfund	crowdfund	NOUN
inlawrev-22390	330	88	act,123	act,123	VERB
inlawrev-22390	330	89	eventually	eventually	ADV
inlawrev-22390	330	90	became	become	VERB
inlawrev-22390	330	91	title	title	NOUN
inlawrev-22390	330	92	iii	iii	NUM
inlawrev-22390	330	93	of	of	ADP
inlawrev-22390	330	94	the	the	DET
inlawrev-22390	330	95	jobs	job	NOUN
inlawrev-22390	330	96	act	act	VERB
inlawrev-22390	330	97	after	after	ADP
inlawrev-22390	330	98	being	be	AUX
inlawrev-22390	330	99	drafted	draft	VERB
inlawrev-22390	330	100	to	to	PART
inlawrev-22390	330	101	contain	contain	VERB
inlawrev-22390	330	102	114	114	NUM
inlawrev-22390	330	103	.	.	PUNCT
inlawrev-22390	331	1	i	i	PRON
inlawrev-22390	331	2	d.	d.	PROPN
inlawrev-22390	331	3	at	at	ADP
inlawrev-22390	331	4	71,425	71,425	NUM
inlawrev-22390	331	5	.	.	PUNCT
inlawrev-22390	332	1	115	115	NUM
inlawrev-22390	332	2	.	.	PUNCT
inlawrev-22390	333	1	i	i	PRON
inlawrev-22390	333	2	d.	d.	PROPN
inlawrev-22390	333	3	116	116	NUM
inlawrev-22390	333	4	.	.	PUNCT
inlawrev-22390	334	1	i	i	PRON
inlawrev-22390	334	2	d.	d.	PROPN
inlawrev-22390	334	3	117	117	NUM
inlawrev-22390	334	4	.	.	PUNCT
inlawrev-22390	335	1	i	i	PRON
inlawrev-22390	335	2	d.	d.	PROPN
inlawrev-22390	335	3	118	118	NUM
inlawrev-22390	335	4	.	.	PUNCT
inlawrev-22390	336	1	isaacson	isaacson	PROPN
inlawrev-22390	336	2	,	,	PUNCT
inlawrev-22390	336	3	supra	supra	PROPN
inlawrev-22390	336	4	note	note	PROPN
inlawrev-22390	336	5	6	6	NUM
inlawrev-22390	336	6	,	,	PUNCT
inlawrev-22390	336	7	at	at	ADP
inlawrev-22390	336	8	460	460	NUM
inlawrev-22390	336	9	.	.	PUNCT
inlawrev-22390	337	1	119	119	NUM
inlawrev-22390	337	2	.	.	PUNCT
inlawrev-22390	338	1	wroldsen	wroldsen	PROPN
inlawrev-22390	338	2	,	,	PUNCT
inlawrev-22390	338	3	supra	supra	PROPN
inlawrev-22390	338	4	note	note	NOUN
inlawrev-22390	338	5	1	1	NUM
inlawrev-22390	338	6	,	,	PUNCT
inlawrev-22390	338	7	at	at	ADP
inlawrev-22390	338	8	598	598	NUM
inlawrev-22390	338	9	-	-	SYM
inlawrev-22390	338	10	99	99	NUM
inlawrev-22390	338	11	.	.	PUNCT
inlawrev-22390	338	12	120	120	NUM
inlawrev-22390	338	13	.	.	PUNCT
inlawrev-22390	339	1	i	i	PRON
inlawrev-22390	339	2	d.	d.	PROPN
inlawrev-22390	339	3	at	at	ADP
inlawrev-22390	339	4	598	598	NUM
inlawrev-22390	339	5	.	.	PUNCT
inlawrev-22390	340	1	boiler	boiler	NOUN
inlawrev-22390	340	2	rooms	room	NOUN
inlawrev-22390	340	3	refer	refer	VERB
inlawrev-22390	340	4	to	to	ADP
inlawrev-22390	340	5	operations	operation	NOUN
inlawrev-22390	340	6	where	where	SCONJ
inlawrev-22390	340	7	groups	group	NOUN
inlawrev-22390	340	8	of	of	ADP
inlawrev-22390	340	9	stock	stock	NOUN
inlawrev-22390	340	10	promoters	promoter	NOUN
inlawrev-22390	340	11	cold	cold	ADJ
inlawrev-22390	340	12	call	call	VERB
inlawrev-22390	340	13	investors	investor	NOUN
inlawrev-22390	340	14	to	to	PART
inlawrev-22390	340	15	encourage	encourage	VERB
inlawrev-22390	340	16	participation	participation	NOUN
inlawrev-22390	340	17	in	in	ADP
inlawrev-22390	340	18	questionable	questionable	ADJ
inlawrev-22390	340	19	or	or	CCONJ
inlawrev-22390	340	20	outright	outright	ADJ
inlawrev-22390	340	21	fraudulent	fraudulent	ADJ
inlawrev-22390	340	22	schemes	scheme	NOUN
inlawrev-22390	340	23	.	.	PUNCT
inlawrev-22390	341	1	i	i	PRON
inlawrev-22390	341	2	d.	d.	PROPN
inlawrev-22390	341	3	121	121	NUM
inlawrev-22390	341	4	.	.	PUNCT
inlawrev-22390	342	1	entrepreneur	entrepreneur	NOUN
inlawrev-22390	342	2	access	access	NOUN
inlawrev-22390	342	3	to	to	ADP
inlawrev-22390	342	4	capital	capital	PROPN
inlawrev-22390	342	5	act	act	PROPN
inlawrev-22390	342	6	,	,	PUNCT
inlawrev-22390	342	7	h.r	h.r	PROPN
inlawrev-22390	342	8	.	.	PROPN
inlawrev-22390	342	9	2930	2930	NUM
inlawrev-22390	342	10	,	,	PUNCT
inlawrev-22390	342	11	112th	112th	PROPN
inlawrev-22390	342	12	cong	cong	NOUN
inlawrev-22390	342	13	.	.	PUNCT
inlawrev-22390	343	1	(	(	PUNCT
inlawrev-22390	343	2	2011	2011	NUM
inlawrev-22390	343	3	)	)	PUNCT
inlawrev-22390	343	4	.	.	PUNCT
inlawrev-22390	344	1	122	122	NUM
inlawrev-22390	344	2	.	.	PUNCT
inlawrev-22390	345	1	christine	christine	PROPN
inlawrev-22390	345	2	e.	e.	PROPN
inlawrev-22390	345	3	mckillip	mckillip	PROPN
inlawrev-22390	345	4	,	,	PUNCT
inlawrev-22390	345	5	keeping	keep	VERB
inlawrev-22390	345	6	current	current	ADJ
inlawrev-22390	345	7	:	:	PUNCT
inlawrev-22390	345	8	crowd	crowd	NOUN
inlawrev-22390	345	9	funding	funding	NOUN
inlawrev-22390	345	10	bills	bill	NOUN
inlawrev-22390	345	11	stall	stall	VERB
inlawrev-22390	345	12	in	in	ADP
inlawrev-22390	345	13	congress	congress	PROPN
inlawrev-22390	345	14	,	,	PUNCT
inlawrev-22390	345	15	bus	bus	NOUN
inlawrev-22390	345	16	.	.	PUNCT
inlawrev-22390	346	1	l.	l.	PROPN
inlawrev-22390	346	2	today	today	NOUN
inlawrev-22390	346	3	1	1	NUM
inlawrev-22390	346	4	(	(	PUNCT
inlawrev-22390	346	5	feb	feb	PROPN
inlawrev-22390	346	6	.	.	PROPN
inlawrev-22390	346	7	2012	2012	NUM
inlawrev-22390	346	8	)	)	PUNCT
inlawrev-22390	346	9	.	.	PUNCT
inlawrev-22390	347	1	123	123	NUM
inlawrev-22390	347	2	.	.	PUNCT
inlawrev-22390	348	1	capital	capital	NOUN
inlawrev-22390	348	2	raising	raise	VERB
inlawrev-22390	348	3	online	online	ADV
inlawrev-22390	348	4	while	while	SCONJ
inlawrev-22390	348	5	deterring	deter	VERB
inlawrev-22390	348	6	fraud	fraud	NOUN
inlawrev-22390	348	7	and	and	CCONJ
inlawrev-22390	348	8	unethical	unethical	ADJ
inlawrev-22390	348	9	non	non	ADJ
inlawrev-22390	348	10	-	-	ADJ
inlawrev-22390	348	11	disclosure	disclosure	ADJ
inlawrev-22390	348	12	act	act	NOUN
inlawrev-22390	348	13	of	of	ADP
inlawrev-22390	348	14	2011	2011	NUM
inlawrev-22390	348	15	,	,	PUNCT
inlawrev-22390	348	16	s.	s.	PROPN
inlawrev-22390	348	17	1970	1970	NUM
inlawrev-22390	348	18	,	,	PUNCT
inlawrev-22390	348	19	112th	112th	PROPN
inlawrev-22390	348	20	cong	cong	NOUN
inlawrev-22390	348	21	.	.	PUNCT
inlawrev-22390	349	1	(	(	PUNCT
inlawrev-22390	349	2	2011	2011	NUM
inlawrev-22390	349	3	)	)	PUNCT
inlawrev-22390	349	4	.	.	PUNCT
inlawrev-22390	350	1	290	290	NUM
inlawrev-22390	350	2	indiana	indiana	PROPN
inlawrev-22390	350	3	law	law	NOUN
inlawrev-22390	350	4	review	review	NOUN
inlawrev-22390	350	5	[	[	X
inlawrev-22390	350	6	vol	vol	NOUN
inlawrev-22390	350	7	.	.	PUNCT
inlawrev-22390	351	1	51:277	51:277	NUM
inlawrev-22390	351	2	more	more	ADJ
inlawrev-22390	351	3	investor	investor	NOUN
inlawrev-22390	351	4	protections	protection	NOUN
inlawrev-22390	351	5	and	and	CCONJ
inlawrev-22390	351	6	winning	win	VERB
inlawrev-22390	351	7	both	both	DET
inlawrev-22390	351	8	chambers	chamber	NOUN
inlawrev-22390	351	9	with	with	ADP
inlawrev-22390	351	10	bipartisan	bipartisan	ADJ
inlawrev-22390	351	11	support.124	support.124	NOUN
inlawrev-22390	351	12	even	even	ADV
inlawrev-22390	351	13	with	with	ADP
inlawrev-22390	351	14	the	the	DET
inlawrev-22390	351	15	wide	wide	ADJ
inlawrev-22390	351	16	support	support	NOUN
inlawrev-22390	351	17	for	for	ADP
inlawrev-22390	351	18	the	the	DET
inlawrev-22390	351	19	new	new	ADJ
inlawrev-22390	351	20	changes	change	NOUN
inlawrev-22390	351	21	,	,	PUNCT
inlawrev-22390	351	22	one	one	NUM
inlawrev-22390	351	23	progressive	progressive	ADJ
inlawrev-22390	351	24	senator	senator	NOUN
inlawrev-22390	351	25	called	call	VERB
inlawrev-22390	351	26	the	the	DET
inlawrev-22390	351	27	final	final	ADJ
inlawrev-22390	351	28	bill	bill	NOUN
inlawrev-22390	351	29	“	"	PUNCT
inlawrev-22390	351	30	the	the	DET
inlawrev-22390	351	31	most	most	ADV
inlawrev-22390	351	32	sweeping	sweeping	ADJ
inlawrev-22390	351	33	deregulatory	deregulatory	ADJ
inlawrev-22390	351	34	effort	effort	NOUN
inlawrev-22390	351	35	and	and	CCONJ
inlawrev-22390	351	36	assault	assault	NOUN
inlawrev-22390	351	37	on	on	ADP
inlawrev-22390	351	38	investor	investor	NOUN
inlawrev-22390	351	39	protection	protection	NOUN
inlawrev-22390	351	40	in	in	ADP
inlawrev-22390	351	41	decades”125	decades”125	NOUN
inlawrev-22390	351	42	while	while	SCONJ
inlawrev-22390	351	43	a	a	DET
inlawrev-22390	351	44	conservative	conservative	ADJ
inlawrev-22390	351	45	representative	representative	NOUN
inlawrev-22390	351	46	called	call	VERB
inlawrev-22390	351	47	the	the	DET
inlawrev-22390	351	48	modifications	modification	NOUN
inlawrev-22390	351	49	“	"	PUNCT
inlawrev-22390	351	50	ill	ill	ADV
inlawrev-22390	351	51	-	-	PUNCT
inlawrev-22390	351	52	conceived	conceive	VERB
inlawrev-22390	351	53	and	and	CCONJ
inlawrev-22390	351	54	burdensome	burdensome	ADJ
inlawrev-22390	351	55	.	.	PUNCT
inlawrev-22390	351	56	”126	”126	PRON
inlawrev-22390	351	57	nearly	nearly	ADV
inlawrev-22390	351	58	three	three	NUM
inlawrev-22390	351	59	years	year	NOUN
inlawrev-22390	351	60	after	after	SCONJ
inlawrev-22390	351	61	the	the	DET
inlawrev-22390	351	62	bill	bill	NOUN
inlawrev-22390	351	63	became	become	VERB
inlawrev-22390	351	64	law	law	NOUN
inlawrev-22390	351	65	,	,	PUNCT
inlawrev-22390	351	66	the	the	DET
inlawrev-22390	351	67	final	final	ADJ
inlawrev-22390	351	68	rules	rule	NOUN
inlawrev-22390	351	69	were	be	AUX
inlawrev-22390	351	70	released	release	VERB
inlawrev-22390	351	71	and	and	CCONJ
inlawrev-22390	351	72	several	several	ADJ
inlawrev-22390	351	73	sec	sec	PROPN
inlawrev-22390	351	74	commissioners	commissioner	NOUN
inlawrev-22390	351	75	expressed	express	VERB
inlawrev-22390	351	76	similar	similar	ADJ
inlawrev-22390	351	77	reservations.127	reservations.127	NOUN
inlawrev-22390	351	78	in	in	ADP
inlawrev-22390	351	79	a	a	DET
inlawrev-22390	351	80	dissenting	dissent	VERB
inlawrev-22390	351	81	statement	statement	NOUN
inlawrev-22390	351	82	to	to	ADP
inlawrev-22390	351	83	the	the	DET
inlawrev-22390	351	84	final	final	ADJ
inlawrev-22390	351	85	rules	rule	NOUN
inlawrev-22390	351	86	,	,	PUNCT
inlawrev-22390	351	87	sec	sec	PROPN
inlawrev-22390	351	88	commissioner	commissioner	NOUN
inlawrev-22390	351	89	michael	michael	PROPN
inlawrev-22390	351	90	piwowar	piwowar	PROPN
inlawrev-22390	351	91	concluded	conclude	VERB
inlawrev-22390	351	92	that	that	SCONJ
inlawrev-22390	351	93	,	,	PUNCT
inlawrev-22390	351	94	as	as	SCONJ
inlawrev-22390	351	95	written	write	VERB
inlawrev-22390	351	96	,	,	PUNCT
inlawrev-22390	351	97	the	the	DET
inlawrev-22390	351	98	rules	rule	NOUN
inlawrev-22390	351	99	contain	contain	VERB
inlawrev-22390	351	100	“	"	PUNCT
inlawrev-22390	351	101	many	many	ADJ
inlawrev-22390	351	102	traps	trap	NOUN
inlawrev-22390	351	103	for	for	ADP
inlawrev-22390	351	104	the	the	DET
inlawrev-22390	351	105	unwary	unwary	ADJ
inlawrev-22390	351	106	.	.	PUNCT
inlawrev-22390	351	107	.	.	PUNCT
inlawrev-22390	351	108	.	.	PUNCT
inlawrev-22390	352	1	[	[	X
inlawrev-22390	352	2	and	and	CCONJ
inlawrev-22390	352	3	]	]	X
inlawrev-22390	352	4	creat[e	creat[e	ADJ
inlawrev-22390	352	5	]	]	PUNCT
inlawrev-22390	352	6	potential	potential	ADJ
inlawrev-22390	352	7	nightmares	nightmare	NOUN
inlawrev-22390	352	8	for	for	ADP
inlawrev-22390	352	9	small	small	ADJ
inlawrev-22390	352	10	business	business	NOUN
inlawrev-22390	352	11	owners	owner	NOUN
inlawrev-22390	352	12	”	"	PUNCT
inlawrev-22390	352	13	because	because	SCONJ
inlawrev-22390	352	14	of	of	ADP
inlawrev-22390	352	15	the	the	DET
inlawrev-22390	352	16	“	"	PUNCT
inlawrev-22390	352	17	complex	complex	ADJ
inlawrev-22390	352	18	web	web	NOUN
inlawrev-22390	352	19	of	of	ADP
inlawrev-22390	352	20	provisions	provision	NOUN
inlawrev-22390	352	21	and	and	CCONJ
inlawrev-22390	352	22	requirements	requirement	NOUN
inlawrev-22390	352	23	for	for	ADP
inlawrev-22390	352	24	compliance	compliance	NOUN
inlawrev-22390	352	25	.	.	PUNCT
inlawrev-22390	353	1	”128	”128	PUNCT
inlawrev-22390	354	1	another	another	DET
inlawrev-22390	354	2	sec	sec	PROPN
inlawrev-22390	354	3	commissioner	commissioner	NOUN
inlawrev-22390	354	4	,	,	PUNCT
inlawrev-22390	354	5	kara	kara	PROPN
inlawrev-22390	354	6	stein	stein	PROPN
inlawrev-22390	354	7	,	,	PUNCT
inlawrev-22390	354	8	was	be	AUX
inlawrev-22390	354	9	pleased	pleased	ADJ
inlawrev-22390	354	10	with	with	ADP
inlawrev-22390	354	11	the	the	DET
inlawrev-22390	354	12	final	final	ADJ
inlawrev-22390	354	13	rules	rule	NOUN
inlawrev-22390	354	14	overall	overall	ADV
inlawrev-22390	354	15	,	,	PUNCT
inlawrev-22390	354	16	but	but	CCONJ
inlawrev-22390	354	17	indicated	indicate	VERB
inlawrev-22390	354	18	with	with	ADP
inlawrev-22390	354	19	some	some	DET
inlawrev-22390	354	20	caution	caution	NOUN
inlawrev-22390	354	21	that	that	SCONJ
inlawrev-22390	354	22	crowdfunding	crowdfunding	NOUN
inlawrev-22390	354	23	was	be	AUX
inlawrev-22390	354	24	an	an	DET
inlawrev-22390	354	25	“	"	PUNCT
inlawrev-22390	354	26	experiment	experiment	NOUN
inlawrev-22390	354	27	”	"	PUNCT
inlawrev-22390	354	28	and	and	CCONJ
inlawrev-22390	354	29	the	the	DET
inlawrev-22390	354	30	commission	commission	NOUN
inlawrev-22390	354	31	would	would	AUX
inlawrev-22390	354	32	need	need	VERB
inlawrev-22390	354	33	to	to	PART
inlawrev-22390	354	34	keep	keep	VERB
inlawrev-22390	354	35	a	a	DET
inlawrev-22390	354	36	watchful	watchful	ADJ
inlawrev-22390	354	37	eye	eye	NOUN
inlawrev-22390	354	38	on	on	ADP
inlawrev-22390	354	39	how	how	SCONJ
inlawrev-22390	354	40	the	the	DET
inlawrev-22390	354	41	new	new	ADJ
inlawrev-22390	354	42	market	market	NOUN
inlawrev-22390	354	43	develops.129	develops.129	PROPN
inlawrev-22390	354	44	commentators	commentator	NOUN
inlawrev-22390	354	45	have	have	AUX
inlawrev-22390	354	46	similarly	similarly	ADV
inlawrev-22390	354	47	factionalized	factionalize	VERB
inlawrev-22390	354	48	into	into	ADP
inlawrev-22390	354	49	two	two	NUM
inlawrev-22390	354	50	camps	camp	NOUN
inlawrev-22390	354	51	:	:	PUNCT
inlawrev-22390	354	52	those	those	PRON
inlawrev-22390	354	53	who	who	PRON
inlawrev-22390	354	54	believe	believe	VERB
inlawrev-22390	354	55	the	the	DET
inlawrev-22390	354	56	regulations	regulation	NOUN
inlawrev-22390	354	57	are	be	AUX
inlawrev-22390	354	58	too	too	ADV
inlawrev-22390	354	59	burdensome130	burdensome130	PROPN
inlawrev-22390	354	60	and	and	CCONJ
inlawrev-22390	354	61	those	those	PRON
inlawrev-22390	354	62	who	who	PRON
inlawrev-22390	354	63	believe	believe	VERB
inlawrev-22390	354	64	the	the	DET
inlawrev-22390	354	65	risk	risk	NOUN
inlawrev-22390	354	66	to	to	PART
inlawrev-22390	354	67	amateur	amateur	VERB
inlawrev-22390	354	68	investors	investor	NOUN
inlawrev-22390	354	69	is	be	AUX
inlawrev-22390	354	70	too	too	ADV
inlawrev-22390	354	71	great.131	great.131	PROPN
inlawrev-22390	354	72	a.	a.	NOUN
inlawrev-22390	354	73	too	too	ADV
inlawrev-22390	354	74	much	much	ADJ
inlawrev-22390	354	75	regulation	regulation	NOUN
inlawrev-22390	354	76	the	the	DET
inlawrev-22390	354	77	concerns	concern	NOUN
inlawrev-22390	354	78	in	in	ADP
inlawrev-22390	354	79	the	the	DET
inlawrev-22390	354	80	deregulation	deregulation	NOUN
inlawrev-22390	354	81	camp	camp	NOUN
inlawrev-22390	354	82	focus	focus	VERB
inlawrev-22390	354	83	largely	largely	ADV
inlawrev-22390	354	84	on	on	ADP
inlawrev-22390	354	85	the	the	DET
inlawrev-22390	354	86	following	following	NOUN
inlawrev-22390	354	87	:	:	PUNCT
inlawrev-22390	355	1	compliance	compliance	NOUN
inlawrev-22390	355	2	costs	cost	NOUN
inlawrev-22390	355	3	for	for	ADP
inlawrev-22390	355	4	issuers	issuer	NOUN
inlawrev-22390	355	5	,	,	PUNCT
inlawrev-22390	355	6	relatively	relatively	ADV
inlawrev-22390	355	7	low	low	ADJ
inlawrev-22390	355	8	monetary	monetary	ADJ
inlawrev-22390	355	9	cap	cap	NOUN
inlawrev-22390	355	10	on	on	ADP
inlawrev-22390	355	11	offering	offer	VERB
inlawrev-22390	355	12	amounts	amount	NOUN
inlawrev-22390	355	13	,	,	PUNCT
inlawrev-22390	355	14	and	and	CCONJ
inlawrev-22390	355	15	relatively	relatively	ADV
inlawrev-22390	355	16	arbitrary	arbitrary	ADJ
inlawrev-22390	355	17	restrictions	restriction	NOUN
inlawrev-22390	355	18	on	on	ADP
inlawrev-22390	355	19	investor	investor	NOUN
inlawrev-22390	355	20	contribution.132	contribution.132	PROPN
inlawrev-22390	355	21	for	for	ADP
inlawrev-22390	355	22	example	example	NOUN
inlawrev-22390	355	23	,	,	PUNCT
inlawrev-22390	355	24	crowdfund	crowdfund	ADJ
inlawrev-22390	355	25	issuers	issuer	NOUN
inlawrev-22390	355	26	will	will	AUX
inlawrev-22390	355	27	face	face	VERB
inlawrev-22390	355	28	fees	fee	NOUN
inlawrev-22390	355	29	from	from	ADP
inlawrev-22390	355	30	the	the	DET
inlawrev-22390	355	31	crowdfunding	crowdfunding	NOUN
inlawrev-22390	355	32	platform	platform	NOUN
inlawrev-22390	355	33	itself	itself	PRON
inlawrev-22390	355	34	,	,	PUNCT
inlawrev-22390	355	35	preparation	preparation	NOUN
inlawrev-22390	355	36	and	and	CCONJ
inlawrev-22390	355	37	filing	filing	NOUN
inlawrev-22390	355	38	costs	cost	NOUN
inlawrev-22390	355	39	associated	associate	VERB
inlawrev-22390	355	40	with	with	ADP
inlawrev-22390	355	41	the	the	DET
inlawrev-22390	355	42	mandatory	mandatory	ADJ
inlawrev-22390	355	43	disclosure	disclosure	NOUN
inlawrev-22390	355	44	forms	form	NOUN
inlawrev-22390	355	45	,	,	PUNCT
inlawrev-22390	355	46	and	and	CCONJ
inlawrev-22390	355	47	accounting	accounting	NOUN
inlawrev-22390	355	48	fees	fee	NOUN
inlawrev-22390	355	49	for	for	ADP
inlawrev-22390	355	50	reviewed	review	VERB
inlawrev-22390	355	51	or	or	CCONJ
inlawrev-22390	355	52	audited	audit	VERB
inlawrev-22390	355	53	financials	financial	NOUN
inlawrev-22390	355	54	if	if	SCONJ
inlawrev-22390	355	55	necessary.133	necessary.133	NUM
inlawrev-22390	355	56	for	for	ADP
inlawrev-22390	355	57	issuers	issuer	NOUN
inlawrev-22390	355	58	seeking	seek	VERB
inlawrev-22390	355	59	$	$	SYM
inlawrev-22390	355	60	100,000	100,000	NUM
inlawrev-22390	355	61	or	or	CCONJ
inlawrev-22390	355	62	less	less	ADJ
inlawrev-22390	355	63	,	,	PUNCT
inlawrev-22390	355	64	the	the	DET
inlawrev-22390	355	65	sec	sec	PROPN
inlawrev-22390	355	66	estimates	estimate	VERB
inlawrev-22390	355	67	fees	fee	NOUN
inlawrev-22390	355	68	charged	charge	VERB
inlawrev-22390	355	69	by	by	ADP
inlawrev-22390	355	70	the	the	DET
inlawrev-22390	355	71	platform	platform	NOUN
inlawrev-22390	355	72	could	could	AUX
inlawrev-22390	355	73	range	range	VERB
inlawrev-22390	355	74	between	between	ADP
inlawrev-22390	355	75	5	5	NUM
inlawrev-22390	355	76	%	%	NOUN
inlawrev-22390	355	77	and	and	CCONJ
inlawrev-22390	355	78	15	15	NUM
inlawrev-22390	355	79	%	%	NOUN
inlawrev-22390	355	80	of	of	ADP
inlawrev-22390	355	81	the	the	DET
inlawrev-22390	355	82	value	value	NOUN
inlawrev-22390	355	83	of	of	ADP
inlawrev-22390	355	84	the	the	DET
inlawrev-22390	355	85	offering.134	offering.134	PROPN
inlawrev-22390	355	86	124	124	NUM
inlawrev-22390	355	87	.	.	PUNCT
inlawrev-22390	356	1	wroldsen	wroldsen	PROPN
inlawrev-22390	356	2	,	,	PUNCT
inlawrev-22390	356	3	supra	supra	PROPN
inlawrev-22390	356	4	note	note	NOUN
inlawrev-22390	356	5	1	1	NUM
inlawrev-22390	356	6	,	,	PUNCT
inlawrev-22390	356	7	at	at	ADP
inlawrev-22390	356	8	598	598	NUM
inlawrev-22390	356	9	-	-	SYM
inlawrev-22390	356	10	99	99	NUM
inlawrev-22390	356	11	.	.	PUNCT
inlawrev-22390	357	1	the	the	DET
inlawrev-22390	357	2	bill	bill	NOUN
inlawrev-22390	357	3	passed	pass	VERB
inlawrev-22390	357	4	the	the	DET
inlawrev-22390	357	5	senate	senate	PROPN
inlawrev-22390	357	6	73	73	NUM
inlawrev-22390	357	7	-	-	SYM
inlawrev-22390	357	8	26	26	NUM
inlawrev-22390	357	9	and	and	CCONJ
inlawrev-22390	357	10	the	the	DET
inlawrev-22390	357	11	house	house	NOUN
inlawrev-22390	357	12	38041	38041	NUM
inlawrev-22390	357	13	.	.	PUNCT
inlawrev-22390	358	1	i	i	PRON
inlawrev-22390	358	2	d.	d.	PROPN
inlawrev-22390	358	3	125	125	NUM
inlawrev-22390	358	4	.	.	PUNCT
inlawrev-22390	359	1	i	i	PRON
inlawrev-22390	359	2	d.	d.	PROPN
inlawrev-22390	359	3	at	at	ADP
inlawrev-22390	359	4	599	599	NUM
inlawrev-22390	359	5	(	(	PUNCT
inlawrev-22390	359	6	quoting	quote	VERB
inlawrev-22390	359	7	sen	sen	PROPN
inlawrev-22390	359	8	.	.	PROPN
inlawrev-22390	359	9	carl	carl	PROPN
inlawrev-22390	359	10	levin	levin	PROPN
inlawrev-22390	359	11	)	)	PUNCT
inlawrev-22390	359	12	.	.	PUNCT
inlawrev-22390	360	1	126	126	NUM
inlawrev-22390	360	2	.	.	PUNCT
inlawrev-22390	361	1	i	i	PRON
inlawrev-22390	361	2	d.	d.	PROPN
inlawrev-22390	361	3	(	(	PUNCT
inlawrev-22390	361	4	quoting	quote	VERB
inlawrev-22390	361	5	statement	statement	NOUN
inlawrev-22390	361	6	of	of	ADP
inlawrev-22390	361	7	rep	rep	PROPN
inlawrev-22390	361	8	.	.	PROPN
inlawrev-22390	361	9	james	james	PROPN
inlawrev-22390	361	10	himes	himes	PROPN
inlawrev-22390	361	11	)	)	PUNCT
inlawrev-22390	361	12	.	.	PUNCT
inlawrev-22390	362	1	127	127	NUM
inlawrev-22390	362	2	.	.	PUNCT
inlawrev-22390	363	1	kara	kara	PROPN
inlawrev-22390	363	2	m.	m.	PROPN
inlawrev-22390	363	3	stein	stein	PROPN
inlawrev-22390	363	4	,	,	PUNCT
inlawrev-22390	363	5	sec	sec	PROPN
inlawrev-22390	363	6	commissioner	commissioner	NOUN
inlawrev-22390	363	7	,	,	PUNCT
inlawrev-22390	363	8	statement	statement	NOUN
inlawrev-22390	363	9	on	on	ADP
inlawrev-22390	363	10	the	the	DET
inlawrev-22390	363	11	adoption	adoption	NOUN
inlawrev-22390	363	12	of	of	ADP
inlawrev-22390	363	13	regulation	regulation	NOUN
inlawrev-22390	363	14	crowdfunding	crowdfunding	NOUN
inlawrev-22390	363	15	,	,	PUNCT
inlawrev-22390	363	16	sec.gov	sec.gov	PROPN
inlawrev-22390	363	17	(	(	PUNCT
inlawrev-22390	363	18	oct	oct	PROPN
inlawrev-22390	363	19	.	.	PROPN
inlawrev-22390	363	20	30	30	NUM
inlawrev-22390	363	21	,	,	PUNCT
inlawrev-22390	363	22	2015	2015	NUM
inlawrev-22390	363	23	)	)	PUNCT
inlawrev-22390	363	24	,	,	PUNCT
inlawrev-22390	363	25	https://www.sec.gov/news/statement/statement-onadoption-of-regulation-crowdfunding-stein.html	https://www.sec.gov/news/statement/statement-onadoption-of-regulation-crowdfunding-stein.html	PUNCT
inlawrev-22390	364	1	[	[	X
inlawrev-22390	364	2	https://perma.cc/m3r6-8c88	https://perma.cc/m3r6-8c88	X
inlawrev-22390	364	3	]	]	PUNCT
inlawrev-22390	364	4	;	;	PUNCT
inlawrev-22390	364	5	michael	michael	PROPN
inlawrev-22390	364	6	s.	s.	PROPN
inlawrev-22390	364	7	piwowar	piwowar	PROPN
inlawrev-22390	364	8	,	,	PUNCT
inlawrev-22390	364	9	sec	sec	PROPN
inlawrev-22390	364	10	commissioner	commissioner	NOUN
inlawrev-22390	364	11	,	,	PUNCT
inlawrev-22390	364	12	dissenting	dissent	VERB
inlawrev-22390	364	13	statement	statement	NOUN
inlawrev-22390	364	14	at	at	ADP
inlawrev-22390	364	15	open	open	ADJ
inlawrev-22390	364	16	meeting	meeting	NOUN
inlawrev-22390	364	17	on	on	ADP
inlawrev-22390	364	18	crowdfunding	crowdfunding	NOUN
inlawrev-22390	364	19	and	and	CCONJ
inlawrev-22390	364	20	small	small	ADJ
inlawrev-22390	364	21	business	business	NOUN
inlawrev-22390	364	22	capital	capital	NOUN
inlawrev-22390	364	23	formation	formation	NOUN
inlawrev-22390	364	24	,	,	PUNCT
inlawrev-22390	364	25	sec.gov	sec.gov	PROPN
inlawrev-22390	364	26	(	(	PUNCT
inlawrev-22390	364	27	oct	oct	PROPN
inlawrev-22390	364	28	.	.	PROPN
inlawrev-22390	364	29	30	30	NUM
inlawrev-22390	364	30	,	,	PUNCT
inlawrev-22390	364	31	2015	2015	NUM
inlawrev-22390	364	32	)	)	PUNCT
inlawrev-22390	364	33	,	,	PUNCT
inlawrev-22390	364	34	https://www.sec.gov/news/statement/	https://www.sec.gov/news/statement/	PROPN
inlawrev-22390	364	35	piwowar-regulation-crowdfunding-147-504.html	piwowar-regulation-crowdfunding-147-504.html	VERB
inlawrev-22390	364	36	[	[	X
inlawrev-22390	364	37	https://perma.cc/45dh-gwwa	https://perma.cc/45dh-gwwa	X
inlawrev-22390	364	38	]	]	X
inlawrev-22390	364	39	.	.	PUNCT
inlawrev-22390	365	1	128	128	NUM
inlawrev-22390	365	2	.	.	PUNCT
inlawrev-22390	366	1	piwowar	piwowar	NOUN
inlawrev-22390	366	2	,	,	PUNCT
inlawrev-22390	366	3	supra	supra	PROPN
inlawrev-22390	366	4	note	note	NOUN
inlawrev-22390	366	5	127	127	NUM
inlawrev-22390	366	6	.	.	PUNCT
inlawrev-22390	367	1	129	129	NUM
inlawrev-22390	367	2	.	.	PUNCT
inlawrev-22390	368	1	stein	stein	PROPN
inlawrev-22390	368	2	,	,	PUNCT
inlawrev-22390	368	3	supra	supra	PROPN
inlawrev-22390	368	4	note	note	PROPN
inlawrev-22390	368	5	127	127	NUM
inlawrev-22390	368	6	.	.	PUNCT
inlawrev-22390	369	1	130	130	NUM
inlawrev-22390	369	2	.	.	PUNCT
inlawrev-22390	370	1	see	see	VERB
inlawrev-22390	370	2	,	,	PUNCT
inlawrev-22390	370	3	e.g.	e.g.	ADV
inlawrev-22390	370	4	,	,	PUNCT
inlawrev-22390	370	5	isaacson	isaacson	PROPN
inlawrev-22390	370	6	,	,	PUNCT
inlawrev-22390	370	7	supra	supra	PROPN
inlawrev-22390	370	8	note	note	PROPN
inlawrev-22390	370	9	6	6	NUM
inlawrev-22390	370	10	,	,	PUNCT
inlawrev-22390	370	11	at	at	ADP
inlawrev-22390	370	12	453	453	NUM
inlawrev-22390	370	13	.	.	PUNCT
inlawrev-22390	371	1	131	131	NUM
inlawrev-22390	371	2	.	.	PUNCT
inlawrev-22390	372	1	see	see	VERB
inlawrev-22390	372	2	,	,	PUNCT
inlawrev-22390	372	3	e.g.	e.g.	ADV
inlawrev-22390	372	4	,	,	PUNCT
inlawrev-22390	372	5	yamen	yamen	PROPN
inlawrev-22390	372	6	&	&	CCONJ
inlawrev-22390	372	7	goldfeder	goldfeder	PROPN
inlawrev-22390	372	8	,	,	PUNCT
inlawrev-22390	372	9	supra	supra	PROPN
inlawrev-22390	372	10	note	note	NOUN
inlawrev-22390	372	11	12	12	NUM
inlawrev-22390	372	12	.	.	PUNCT
inlawrev-22390	373	1	132	132	NUM
inlawrev-22390	373	2	.	.	PUNCT
inlawrev-22390	374	1	see	see	VERB
inlawrev-22390	374	2	,	,	PUNCT
inlawrev-22390	374	3	e.g.	e.g.	ADV
inlawrev-22390	374	4	,	,	PUNCT
inlawrev-22390	374	5	rogers	roger	NOUN
inlawrev-22390	374	6	,	,	PUNCT
inlawrev-22390	374	7	supra	supra	PROPN
inlawrev-22390	374	8	note	note	NOUN
inlawrev-22390	374	9	3	3	NUM
inlawrev-22390	374	10	,	,	PUNCT
inlawrev-22390	374	11	at	at	ADP
inlawrev-22390	374	12	370	370	NUM
inlawrev-22390	374	13	-	-	SYM
inlawrev-22390	374	14	73	73	NUM
inlawrev-22390	374	15	.	.	PUNCT
inlawrev-22390	375	1	133	133	NUM
inlawrev-22390	375	2	.	.	PUNCT
inlawrev-22390	376	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	376	2	,	,	PUNCT
inlawrev-22390	376	3	80	80	NUM
inlawrev-22390	376	4	fed	feed	VERB
inlawrev-22390	376	5	.	.	PUNCT
inlawrev-22390	377	1	reg	reg	PROPN
inlawrev-22390	377	2	.	.	PUNCT
inlawrev-22390	378	1	71,388	71,388	NUM
inlawrev-22390	378	2	,	,	PUNCT
inlawrev-22390	378	3	71,497	71,497	NUM
inlawrev-22390	378	4	(	(	PUNCT
inlawrev-22390	378	5	nov	nov	PROPN
inlawrev-22390	378	6	.	.	PROPN
inlawrev-22390	378	7	16	16	NUM
inlawrev-22390	378	8	,	,	PUNCT
inlawrev-22390	378	9	2015	2015	NUM
inlawrev-22390	378	10	)	)	PUNCT
inlawrev-22390	378	11	.	.	PUNCT
inlawrev-22390	379	1	134	134	NUM
inlawrev-22390	379	2	.	.	PUNCT
inlawrev-22390	380	1	i	i	PRON
inlawrev-22390	380	2	d.	d.	PROPN
inlawrev-22390	380	3	2018	2018	NUM
inlawrev-22390	380	4	]	]	PUNCT
inlawrev-22390	380	5	false	false	ADJ
inlawrev-22390	380	6	start	start	NOUN
inlawrev-22390	380	7	:	:	PUNCT
inlawrev-22390	380	8	carving	carve	VERB
inlawrev-22390	380	9	a	a	DET
inlawrev-22390	380	10	niche	niche	NOUN
inlawrev-22390	380	11	291	291	NUM
inlawrev-22390	380	12	compliance	compliance	NOUN
inlawrev-22390	380	13	costs	cost	NOUN
inlawrev-22390	380	14	for	for	ADP
inlawrev-22390	380	15	preparing	prepare	VERB
inlawrev-22390	380	16	and	and	CCONJ
inlawrev-22390	380	17	filing	filing	NOUN
inlawrev-22390	380	18	form	form	NOUN
inlawrev-22390	380	19	c	c	NOUN
inlawrev-22390	380	20	will	will	AUX
inlawrev-22390	380	21	be	be	AUX
inlawrev-22390	380	22	approximately	approximately	ADV
inlawrev-22390	380	23	$	$	SYM
inlawrev-22390	380	24	2,500.135	2,500.135	NUM
inlawrev-22390	380	25	these	these	DET
inlawrev-22390	380	26	costs	cost	NOUN
inlawrev-22390	380	27	will	will	AUX
inlawrev-22390	380	28	be	be	AUX
inlawrev-22390	380	29	incurred	incur	VERB
inlawrev-22390	380	30	even	even	ADV
inlawrev-22390	380	31	if	if	SCONJ
inlawrev-22390	380	32	the	the	DET
inlawrev-22390	380	33	crowdfunding	crowdfunding	NOUN
inlawrev-22390	380	34	effort	effort	NOUN
inlawrev-22390	380	35	is	be	AUX
inlawrev-22390	380	36	unsuccessful.136	unsuccessful.136	ADJ
inlawrev-22390	380	37	the	the	DET
inlawrev-22390	380	38	cost	cost	NOUN
inlawrev-22390	380	39	of	of	ADP
inlawrev-22390	380	40	filing	filing	NOUN
inlawrev-22390	380	41	form	form	NOUN
inlawrev-22390	380	42	c	c	NOUN
inlawrev-22390	380	43	-	-	PUNCT
inlawrev-22390	380	44	ar	ar	NOUN
inlawrev-22390	380	45	will	will	AUX
inlawrev-22390	380	46	be	be	AUX
inlawrev-22390	380	47	approximately	approximately	ADV
inlawrev-22390	380	48	$	$	SYM
inlawrev-22390	380	49	1,650	1,650	NUM
inlawrev-22390	380	50	annually	annually	ADV
inlawrev-22390	380	51	as	as	ADV
inlawrev-22390	380	52	long	long	ADV
inlawrev-22390	380	53	as	as	SCONJ
inlawrev-22390	380	54	there	there	PRON
inlawrev-22390	380	55	are	be	VERB
inlawrev-22390	380	56	outstanding	outstanding	ADJ
inlawrev-22390	380	57	securities.137	securities.137	NOUN
inlawrev-22390	380	58	thus	thus	ADV
inlawrev-22390	380	59	,	,	PUNCT
inlawrev-22390	380	60	a	a	DET
inlawrev-22390	380	61	$	$	SYM
inlawrev-22390	380	62	100,000	100,000	NUM
inlawrev-22390	380	63	offering	offering	NOUN
inlawrev-22390	380	64	of	of	ADP
inlawrev-22390	380	65	securities	security	NOUN
inlawrev-22390	380	66	that	that	PRON
inlawrev-22390	380	67	are	be	AUX
inlawrev-22390	380	68	owned	own	VERB
inlawrev-22390	380	69	by	by	ADP
inlawrev-22390	380	70	investors	investor	NOUN
inlawrev-22390	380	71	for	for	ADP
inlawrev-22390	380	72	three	three	NUM
inlawrev-22390	380	73	years	year	NOUN
inlawrev-22390	380	74	could	could	AUX
inlawrev-22390	380	75	cost	cost	VERB
inlawrev-22390	380	76	the	the	DET
inlawrev-22390	380	77	issuer	issuer	NOUN
inlawrev-22390	380	78	as	as	ADV
inlawrev-22390	380	79	much	much	ADJ
inlawrev-22390	380	80	as	as	ADP
inlawrev-22390	380	81	$	$	SYM
inlawrev-22390	380	82	22,000.138	22,000.138	NUM
inlawrev-22390	380	83	for	for	ADP
inlawrev-22390	380	84	smaller	small	ADJ
inlawrev-22390	380	85	offerings	offering	NOUN
inlawrev-22390	380	86	,	,	PUNCT
inlawrev-22390	380	87	the	the	DET
inlawrev-22390	380	88	percentage	percentage	NOUN
inlawrev-22390	380	89	of	of	ADP
inlawrev-22390	380	90	cost	cost	NOUN
inlawrev-22390	380	91	to	to	PART
inlawrev-22390	380	92	benefit	benefit	VERB
inlawrev-22390	380	93	increases	increase	NOUN
inlawrev-22390	380	94	dramatically	dramatically	ADV
inlawrev-22390	380	95	;	;	PUNCT
inlawrev-22390	380	96	a	a	DET
inlawrev-22390	380	97	$	$	SYM
inlawrev-22390	380	98	50,000	50,000	NUM
inlawrev-22390	380	99	offering	offering	NOUN
inlawrev-22390	380	100	could	could	AUX
inlawrev-22390	380	101	cost	cost	VERB
inlawrev-22390	380	102	as	as	ADV
inlawrev-22390	380	103	much	much	ADJ
inlawrev-22390	380	104	as	as	ADP
inlawrev-22390	380	105	$	$	SYM
inlawrev-22390	380	106	14,000	14,000	NUM
inlawrev-22390	380	107	,	,	PUNCT
inlawrev-22390	380	108	and	and	CCONJ
inlawrev-22390	380	109	a	a	DET
inlawrev-22390	380	110	$	$	SYM
inlawrev-22390	380	111	25,000	25,000	NUM
inlawrev-22390	380	112	offering	offering	NOUN
inlawrev-22390	380	113	could	could	AUX
inlawrev-22390	380	114	cost	cost	VERB
inlawrev-22390	380	115	as	as	ADV
inlawrev-22390	380	116	much	much	ADJ
inlawrev-22390	380	117	as	as	ADP
inlawrev-22390	380	118	$	$	SYM
inlawrev-22390	380	119	11,000.139	11,000.139	NOUN
inlawrev-22390	380	120	for	for	ADP
inlawrev-22390	380	121	issuers	issuer	NOUN
inlawrev-22390	380	122	seeking	seek	VERB
inlawrev-22390	380	123	$	$	SYM
inlawrev-22390	380	124	100,000	100,000	NUM
inlawrev-22390	380	125	to	to	PART
inlawrev-22390	380	126	$	$	SYM
inlawrev-22390	380	127	500,000	500,000	NUM
inlawrev-22390	380	128	,	,	PUNCT
inlawrev-22390	380	129	the	the	DET
inlawrev-22390	380	130	estimated	estimate	VERB
inlawrev-22390	380	131	platform	platform	NOUN
inlawrev-22390	380	132	fees	fee	NOUN
inlawrev-22390	380	133	could	could	AUX
inlawrev-22390	380	134	range	range	VERB
inlawrev-22390	380	135	between	between	ADP
inlawrev-22390	380	136	5	5	NUM
inlawrev-22390	380	137	%	%	NOUN
inlawrev-22390	380	138	and	and	CCONJ
inlawrev-22390	380	139	10%.140	10%.140	NUM
inlawrev-22390	380	140	compliance	compliance	NOUN
inlawrev-22390	380	141	costs	cost	NOUN
inlawrev-22390	380	142	for	for	ADP
inlawrev-22390	380	143	preparing	prepare	VERB
inlawrev-22390	380	144	and	and	CCONJ
inlawrev-22390	380	145	filing	filing	NOUN
inlawrev-22390	380	146	form	form	NOUN
inlawrev-22390	380	147	c	c	NOUN
inlawrev-22390	380	148	for	for	ADP
inlawrev-22390	380	149	these	these	DET
inlawrev-22390	380	150	slightly	slightly	ADV
inlawrev-22390	380	151	larger	large	ADJ
inlawrev-22390	380	152	offers	offer	NOUN
inlawrev-22390	380	153	will	will	AUX
inlawrev-22390	380	154	be	be	AUX
inlawrev-22390	380	155	approximately	approximately	ADV
inlawrev-22390	380	156	$	$	SYM
inlawrev-22390	380	157	2,500	2,500	NUM
inlawrev-22390	380	158	to	to	PART
inlawrev-22390	380	159	$	$	SYM
inlawrev-22390	380	160	5,000.141	5,000.141	NUM
inlawrev-22390	380	161	the	the	DET
inlawrev-22390	380	162	sec	sec	PROPN
inlawrev-22390	380	163	estimates	estimate	VERB
inlawrev-22390	380	164	the	the	DET
inlawrev-22390	380	165	cost	cost	NOUN
inlawrev-22390	380	166	of	of	ADP
inlawrev-22390	380	167	filing	filing	NOUN
inlawrev-22390	380	168	form	form	NOUN
inlawrev-22390	380	169	c	c	NOUN
inlawrev-22390	380	170	-	-	PUNCT
inlawrev-22390	380	171	ar	ar	NOUN
inlawrev-22390	380	172	will	will	AUX
inlawrev-22390	380	173	be	be	AUX
inlawrev-22390	380	174	approximately	approximately	ADV
inlawrev-22390	380	175	two	two	NUM
inlawrev-22390	380	176	thirds	third	NOUN
inlawrev-22390	380	177	of	of	ADP
inlawrev-22390	380	178	the	the	DET
inlawrev-22390	380	179	cost	cost	NOUN
inlawrev-22390	380	180	of	of	ADP
inlawrev-22390	380	181	filing	filing	NOUN
inlawrev-22390	380	182	form	form	NOUN
inlawrev-22390	380	183	c.142	c.142	NUM
inlawrev-22390	380	184	finally	finally	ADV
inlawrev-22390	380	185	,	,	PUNCT
inlawrev-22390	380	186	the	the	DET
inlawrev-22390	380	187	required	require	VERB
inlawrev-22390	380	188	reviewed	review	VERB
inlawrev-22390	380	189	financial	financial	ADJ
inlawrev-22390	380	190	statements	statement	NOUN
inlawrev-22390	380	191	for	for	ADP
inlawrev-22390	380	192	offerings	offering	NOUN
inlawrev-22390	380	193	of	of	ADP
inlawrev-22390	380	194	this	this	DET
inlawrev-22390	380	195	size	size	NOUN
inlawrev-22390	380	196	are	be	AUX
inlawrev-22390	380	197	estimated	estimate	VERB
inlawrev-22390	380	198	to	to	PART
inlawrev-22390	380	199	cost	cost	VERB
inlawrev-22390	380	200	between	between	ADP
inlawrev-22390	380	201	$	$	SYM
inlawrev-22390	380	202	1,500	1,500	NUM
inlawrev-22390	380	203	and	and	CCONJ
inlawrev-22390	380	204	$	$	SYM
inlawrev-22390	380	205	18,000.143	18,000.143	PRON
inlawrev-22390	380	206	in	in	ADP
inlawrev-22390	380	207	the	the	DET
inlawrev-22390	380	208	highest	high	ADJ
inlawrev-22390	380	209	existing	exist	VERB
inlawrev-22390	380	210	tier	tier	NOUN
inlawrev-22390	380	211	,	,	PUNCT
inlawrev-22390	380	212	issuers	issuer	NOUN
inlawrev-22390	380	213	seeking	seek	VERB
inlawrev-22390	380	214	between	between	ADP
inlawrev-22390	380	215	$	$	SYM
inlawrev-22390	380	216	500,000	500,000	NUM
inlawrev-22390	380	217	and	and	CCONJ
inlawrev-22390	380	218	$	$	SYM
inlawrev-22390	380	219	1,000,000	1,000,000	NUM
inlawrev-22390	380	220	,	,	PUNCT
inlawrev-22390	380	221	the	the	DET
inlawrev-22390	380	222	sec	sec	PROPN
inlawrev-22390	380	223	estimates	estimate	VERB
inlawrev-22390	380	224	platform	platform	NOUN
inlawrev-22390	380	225	fees	fee	NOUN
inlawrev-22390	380	226	could	could	AUX
inlawrev-22390	380	227	range	range	VERB
inlawrev-22390	380	228	between	between	ADP
inlawrev-22390	380	229	5	5	NUM
inlawrev-22390	380	230	%	%	NOUN
inlawrev-22390	380	231	and	and	CCONJ
inlawrev-22390	380	232	7.5%.144	7.5%.144	NUM
inlawrev-22390	380	233	compliance	compliance	NOUN
inlawrev-22390	380	234	costs	cost	NOUN
inlawrev-22390	380	235	for	for	ADP
inlawrev-22390	380	236	preparing	prepare	VERB
inlawrev-22390	380	237	and	and	CCONJ
inlawrev-22390	380	238	filing	filing	NOUN
inlawrev-22390	380	239	form	form	NOUN
inlawrev-22390	380	240	c	c	NOUN
inlawrev-22390	380	241	will	will	AUX
inlawrev-22390	380	242	be	be	AUX
inlawrev-22390	380	243	approximately	approximately	ADV
inlawrev-22390	380	244	$	$	SYM
inlawrev-22390	380	245	6,000	6,000	NUM
inlawrev-22390	380	246	to	to	PART
inlawrev-22390	380	247	$	$	SYM
inlawrev-22390	380	248	20,000.145	20,000.145	NUM
inlawrev-22390	380	249	the	the	DET
inlawrev-22390	380	250	cost	cost	NOUN
inlawrev-22390	380	251	of	of	ADP
inlawrev-22390	380	252	filing	filing	NOUN
inlawrev-22390	380	253	form	form	NOUN
inlawrev-22390	380	254	c	c	NOUN
inlawrev-22390	380	255	-	-	PUNCT
inlawrev-22390	380	256	ar	ar	NOUN
inlawrev-22390	380	257	will	will	AUX
inlawrev-22390	380	258	once	once	ADV
inlawrev-22390	380	259	again	again	ADV
inlawrev-22390	380	260	be	be	AUX
inlawrev-22390	380	261	approximately	approximately	ADV
inlawrev-22390	380	262	two	two	NUM
inlawrev-22390	380	263	thirds	third	NOUN
inlawrev-22390	380	264	of	of	ADP
inlawrev-22390	380	265	the	the	DET
inlawrev-22390	380	266	cost	cost	NOUN
inlawrev-22390	380	267	of	of	ADP
inlawrev-22390	380	268	filing	filing	NOUN
inlawrev-22390	380	269	form	form	NOUN
inlawrev-22390	380	270	c.146	c.146	NOUN
inlawrev-22390	380	271	if	if	SCONJ
inlawrev-22390	380	272	reviewed	review	VERB
inlawrev-22390	380	273	financial	financial	ADJ
inlawrev-22390	380	274	statements	statement	NOUN
inlawrev-22390	380	275	are	be	AUX
inlawrev-22390	380	276	sufficient	sufficient	ADJ
inlawrev-22390	380	277	for	for	ADP
inlawrev-22390	380	278	the	the	DET
inlawrev-22390	380	279	issuer	issuer	NOUN
inlawrev-22390	380	280	,	,	PUNCT
inlawrev-22390	380	281	the	the	DET
inlawrev-22390	380	282	cost	cost	NOUN
inlawrev-22390	380	283	likely	likely	ADV
inlawrev-22390	380	284	will	will	AUX
inlawrev-22390	380	285	be	be	AUX
inlawrev-22390	380	286	within	within	ADP
inlawrev-22390	380	287	the	the	DET
inlawrev-22390	380	288	same	same	ADJ
inlawrev-22390	380	289	range	range	NOUN
inlawrev-22390	380	290	as	as	ADP
inlawrev-22390	380	291	the	the	DET
inlawrev-22390	380	292	middle	middle	ADJ
inlawrev-22390	380	293	tier.147	tier.147	NOUN
inlawrev-22390	380	294	if	if	SCONJ
inlawrev-22390	380	295	audited	audit	VERB
inlawrev-22390	380	296	financials	financial	NOUN
inlawrev-22390	380	297	are	be	AUX
inlawrev-22390	380	298	required	require	VERB
inlawrev-22390	380	299	,	,	PUNCT
inlawrev-22390	380	300	the	the	DET
inlawrev-22390	380	301	estimated	estimate	VERB
inlawrev-22390	380	302	cost	cost	NOUN
inlawrev-22390	380	303	ranges	range	NOUN
inlawrev-22390	380	304	between	between	ADP
inlawrev-22390	380	305	$	$	SYM
inlawrev-22390	380	306	2,500	2,500	NUM
inlawrev-22390	380	307	to	to	PART
inlawrev-22390	380	308	$	$	SYM
inlawrev-22390	380	309	30,000.148	30,000.148	NUM
inlawrev-22390	380	310	these	these	DET
inlawrev-22390	380	311	estimates	estimate	NOUN
inlawrev-22390	380	312	may	may	AUX
inlawrev-22390	380	313	vary	vary	VERB
inlawrev-22390	380	314	significantly	significantly	ADV
inlawrev-22390	380	315	based	base	VERB
inlawrev-22390	380	316	on	on	ADP
inlawrev-22390	380	317	market	market	NOUN
inlawrev-22390	380	318	conditions	condition	NOUN
inlawrev-22390	380	319	,	,	PUNCT
inlawrev-22390	380	320	and	and	CCONJ
inlawrev-22390	380	321	some	some	DET
inlawrev-22390	380	322	businesses	business	NOUN
inlawrev-22390	380	323	may	may	AUX
inlawrev-22390	380	324	be	be	AUX
inlawrev-22390	380	325	able	able	ADJ
inlawrev-22390	380	326	to	to	PART
inlawrev-22390	380	327	complete	complete	VERB
inlawrev-22390	380	328	the	the	DET
inlawrev-22390	380	329	filings	filing	NOUN
inlawrev-22390	380	330	without	without	ADP
inlawrev-22390	380	331	outside	outside	ADP
inlawrev-22390	380	332	assistance.149	assistance.149	ADP
inlawrev-22390	380	333	some	some	PRON
inlawrev-22390	380	334	have	have	AUX
inlawrev-22390	380	335	accused	accuse	VERB
inlawrev-22390	380	336	the	the	DET
inlawrev-22390	380	337	sec	sec	PROPN
inlawrev-22390	380	338	’s	’s	PART
inlawrev-22390	380	339	cost	cost	NOUN
inlawrev-22390	380	340	estimates	estimate	NOUN
inlawrev-22390	380	341	of	of	ADP
inlawrev-22390	380	342	being	be	AUX
inlawrev-22390	380	343	“	"	PUNCT
inlawrev-22390	380	344	egregiously	egregiously	ADV
inlawrev-22390	380	345	low	low	ADJ
inlawrev-22390	380	346	.	.	PUNCT
inlawrev-22390	380	347	”150	”150	PROPN
inlawrev-22390	380	348	135	135	NUM
inlawrev-22390	380	349	.	.	PUNCT
inlawrev-22390	381	1	i	i	PRON
inlawrev-22390	381	2	d.	d.	PROPN
inlawrev-22390	381	3	at	at	ADP
inlawrev-22390	381	4	71,498	71,498	NUM
inlawrev-22390	381	5	.	.	PUNCT
inlawrev-22390	382	1	136	136	NUM
inlawrev-22390	382	2	.	.	PUNCT
inlawrev-22390	383	1	i	i	PRON
inlawrev-22390	383	2	d.	d.	PROPN
inlawrev-22390	383	3	137	137	NUM
inlawrev-22390	383	4	.	.	PUNCT
inlawrev-22390	384	1	i	i	PRON
inlawrev-22390	384	2	d.	d.	PROPN
inlawrev-22390	384	3	138	138	NUM
inlawrev-22390	384	4	.	.	PUNCT
inlawrev-22390	385	1	this	this	DET
inlawrev-22390	385	2	calculation	calculation	NOUN
inlawrev-22390	385	3	is	be	AUX
inlawrev-22390	385	4	based	base	VERB
inlawrev-22390	385	5	on	on	ADP
inlawrev-22390	385	6	the	the	DET
inlawrev-22390	385	7	sec	sec	PROPN
inlawrev-22390	385	8	estimates	estimate	NOUN
inlawrev-22390	385	9	discussed	discuss	VERB
inlawrev-22390	385	10	in	in	ADP
inlawrev-22390	385	11	the	the	DET
inlawrev-22390	385	12	immediately	immediately	ADV
inlawrev-22390	385	13	preceding	precede	VERB
inlawrev-22390	385	14	sentences	sentence	NOUN
inlawrev-22390	385	15	.	.	PUNCT
inlawrev-22390	386	1	an	an	DET
inlawrev-22390	386	2	intermediary	intermediary	ADJ
inlawrev-22390	386	3	fee	fee	NOUN
inlawrev-22390	386	4	of	of	ADP
inlawrev-22390	386	5	15	15	NUM
inlawrev-22390	386	6	%	%	NOUN
inlawrev-22390	386	7	on	on	ADP
inlawrev-22390	386	8	$	$	SYM
inlawrev-22390	386	9	100,000	100,000	NUM
inlawrev-22390	386	10	equals	equal	VERB
inlawrev-22390	386	11	$	$	SYM
inlawrev-22390	386	12	15,000	15,000	NUM
inlawrev-22390	386	13	.	.	PUNCT
inlawrev-22390	387	1	plus	plus	CCONJ
inlawrev-22390	387	2	$	$	SYM
inlawrev-22390	387	3	2,500	2,500	NUM
inlawrev-22390	387	4	for	for	ADP
inlawrev-22390	387	5	filing	filing	NOUN
inlawrev-22390	387	6	form	form	NOUN
inlawrev-22390	387	7	c.	c.	PROPN
inlawrev-22390	387	8	plus	plus	CCONJ
inlawrev-22390	387	9	filing	file	VERB
inlawrev-22390	387	10	the	the	DET
inlawrev-22390	387	11	annual	annual	ADJ
inlawrev-22390	387	12	report	report	NOUN
inlawrev-22390	387	13	,	,	PUNCT
inlawrev-22390	387	14	form	form	NOUN
inlawrev-22390	387	15	c	c	NOUN
inlawrev-22390	387	16	-	-	PUNCT
inlawrev-22390	387	17	ar	ar	NOUN
inlawrev-22390	387	18	for	for	ADP
inlawrev-22390	387	19	three	three	NUM
inlawrev-22390	387	20	years	year	NOUN
inlawrev-22390	387	21	at	at	ADP
inlawrev-22390	387	22	$	$	SYM
inlawrev-22390	387	23	1,650	1,650	NUM
inlawrev-22390	387	24	per	per	ADP
inlawrev-22390	387	25	year	year	NOUN
inlawrev-22390	387	26	(	(	PUNCT
inlawrev-22390	387	27	$	$	SYM
inlawrev-22390	387	28	4,950	4,950	NUM
inlawrev-22390	387	29	)	)	PUNCT
inlawrev-22390	387	30	.	.	PUNCT
inlawrev-22390	388	1	this	this	PRON
inlawrev-22390	388	2	totals	total	VERB
inlawrev-22390	388	3	$	$	SYM
inlawrev-22390	388	4	22,450	22,450	NUM
inlawrev-22390	388	5	.	.	PUNCT
inlawrev-22390	389	1	139	139	NUM
inlawrev-22390	389	2	.	.	PUNCT
inlawrev-22390	390	1	these	these	DET
inlawrev-22390	390	2	calculations	calculation	NOUN
inlawrev-22390	390	3	follow	follow	VERB
inlawrev-22390	390	4	the	the	DET
inlawrev-22390	390	5	same	same	ADJ
inlawrev-22390	390	6	methodology	methodology	NOUN
inlawrev-22390	390	7	as	as	ADP
inlawrev-22390	390	8	in	in	ADP
inlawrev-22390	390	9	supra	supra	PROPN
inlawrev-22390	390	10	note	note	PROPN
inlawrev-22390	390	11	138	138	NUM
inlawrev-22390	390	12	.	.	PUNCT
inlawrev-22390	391	1	(	(	PUNCT
inlawrev-22390	391	2	.15	.15	NUM
inlawrev-22390	391	3	x	x	SYM
inlawrev-22390	391	4	$	$	SYM
inlawrev-22390	391	5	50,000	50,000	NUM
inlawrev-22390	391	6	)	)	PUNCT
inlawrev-22390	392	1	+	+	CCONJ
inlawrev-22390	392	2	(	(	PUNCT
inlawrev-22390	392	3	$	$	SYM
inlawrev-22390	392	4	2,500	2,500	NUM
inlawrev-22390	392	5	)	)	PUNCT
inlawrev-22390	393	1	+	+	CCONJ
inlawrev-22390	393	2	(	(	PUNCT
inlawrev-22390	393	3	$	$	SYM
inlawrev-22390	393	4	1,650	1,650	NUM
inlawrev-22390	393	5	x	x	SYM
inlawrev-22390	393	6	3	3	NUM
inlawrev-22390	393	7	)	)	PUNCT
inlawrev-22390	393	8	=	=	PUNCT
inlawrev-22390	393	9	$	$	SYM
inlawrev-22390	393	10	14,950	14,950	NUM
inlawrev-22390	393	11	;	;	PUNCT
inlawrev-22390	393	12	(	(	PUNCT
inlawrev-22390	393	13	.15	.15	NUM
inlawrev-22390	393	14	x	x	SYM
inlawrev-22390	393	15	$	$	SYM
inlawrev-22390	393	16	25,000	25,000	NUM
inlawrev-22390	393	17	)	)	PUNCT
inlawrev-22390	394	1	+	+	CCONJ
inlawrev-22390	394	2	(	(	PUNCT
inlawrev-22390	394	3	$	$	SYM
inlawrev-22390	394	4	2,500	2,500	NUM
inlawrev-22390	394	5	)	)	PUNCT
inlawrev-22390	395	1	+	+	CCONJ
inlawrev-22390	395	2	(	(	PUNCT
inlawrev-22390	395	3	$	$	SYM
inlawrev-22390	395	4	1,650	1,650	NUM
inlawrev-22390	395	5	x	x	SYM
inlawrev-22390	395	6	3	3	NUM
inlawrev-22390	395	7	)	)	PUNCT
inlawrev-22390	395	8	=	=	PUNCT
inlawrev-22390	395	9	$	$	SYM
inlawrev-22390	395	10	11,200	11,200	NUM
inlawrev-22390	395	11	.	.	PUNCT
inlawrev-22390	396	1	140	140	NUM
inlawrev-22390	396	2	.	.	PUNCT
inlawrev-22390	397	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	397	2	,	,	PUNCT
inlawrev-22390	397	3	80	80	NUM
inlawrev-22390	397	4	fed	feed	VERB
inlawrev-22390	397	5	.	.	PUNCT
inlawrev-22390	398	1	reg	reg	PROPN
inlawrev-22390	398	2	.	.	PUNCT
inlawrev-22390	399	1	at	at	ADP
inlawrev-22390	399	2	71,497	71,497	NUM
inlawrev-22390	399	3	.	.	PUNCT
inlawrev-22390	399	4	141	141	NUM
inlawrev-22390	399	5	.	.	PUNCT
inlawrev-22390	400	1	i	i	PRON
inlawrev-22390	400	2	d.	d.	PROPN
inlawrev-22390	400	3	at	at	ADP
inlawrev-22390	400	4	71,498	71,498	NUM
inlawrev-22390	400	5	.	.	PUNCT
inlawrev-22390	401	1	142	142	NUM
inlawrev-22390	401	2	.	.	PUNCT
inlawrev-22390	402	1	i	i	PRON
inlawrev-22390	402	2	d.	d.	PROPN
inlawrev-22390	402	3	143	143	NUM
inlawrev-22390	402	4	.	.	PUNCT
inlawrev-22390	403	1	i	i	PRON
inlawrev-22390	403	2	d.	d.	PROPN
inlawrev-22390	403	3	at	at	ADP
inlawrev-22390	403	4	71,499	71,499	NUM
inlawrev-22390	403	5	.	.	PUNCT
inlawrev-22390	404	1	144	144	NUM
inlawrev-22390	404	2	.	.	PUNCT
inlawrev-22390	405	1	i	i	PRON
inlawrev-22390	405	2	d.	d.	PROPN
inlawrev-22390	405	3	at	at	ADP
inlawrev-22390	405	4	71,497	71,497	NUM
inlawrev-22390	405	5	.	.	PUNCT
inlawrev-22390	406	1	145	145	NUM
inlawrev-22390	406	2	.	.	PUNCT
inlawrev-22390	407	1	i	i	PRON
inlawrev-22390	407	2	d.	d.	PROPN
inlawrev-22390	407	3	at	at	ADP
inlawrev-22390	407	4	71,498	71,498	NUM
inlawrev-22390	407	5	.	.	PUNCT
inlawrev-22390	408	1	146	146	NUM
inlawrev-22390	408	2	.	.	PUNCT
inlawrev-22390	409	1	i	i	PRON
inlawrev-22390	409	2	d.	d.	PROPN
inlawrev-22390	409	3	147	147	NUM
inlawrev-22390	409	4	.	.	PUNCT
inlawrev-22390	410	1	i	i	PRON
inlawrev-22390	410	2	d.	d.	PROPN
inlawrev-22390	410	3	at	at	ADP
inlawrev-22390	410	4	71,500	71,500	NUM
inlawrev-22390	410	5	.	.	PUNCT
inlawrev-22390	411	1	148	148	NUM
inlawrev-22390	411	2	.	.	PUNCT
inlawrev-22390	412	1	i	i	PRON
inlawrev-22390	412	2	d.	d.	PROPN
inlawrev-22390	412	3	at	at	ADP
inlawrev-22390	412	4	71,499	71,499	NUM
inlawrev-22390	412	5	.	.	PUNCT
inlawrev-22390	413	1	149	149	NUM
inlawrev-22390	413	2	.	.	PUNCT
inlawrev-22390	414	1	i	i	PRON
inlawrev-22390	414	2	d.	d.	PROPN
inlawrev-22390	414	3	at	at	ADP
inlawrev-22390	414	4	71,498	71,498	NUM
inlawrev-22390	414	5	.	.	PUNCT
inlawrev-22390	415	1	150	150	NUM
inlawrev-22390	415	2	.	.	PUNCT
inlawrev-22390	416	1	isaacson	isaacson	PROPN
inlawrev-22390	416	2	,	,	PUNCT
inlawrev-22390	416	3	supra	supra	PROPN
inlawrev-22390	416	4	note	note	PROPN
inlawrev-22390	416	5	6	6	NUM
inlawrev-22390	416	6	,	,	PUNCT
inlawrev-22390	416	7	at	at	ADP
inlawrev-22390	416	8	457	457	NUM
inlawrev-22390	416	9	.	.	PUNCT
inlawrev-22390	417	1	292	292	NUM
inlawrev-22390	417	2	indiana	indiana	PROPN
inlawrev-22390	417	3	law	law	PROPN
inlawrev-22390	417	4	review	review	NOUN
inlawrev-22390	417	5	[	[	X
inlawrev-22390	417	6	vol	vol	NOUN
inlawrev-22390	417	7	.	.	PUNCT
inlawrev-22390	418	1	51:277	51:277	NUM
inlawrev-22390	418	2	crowdfunding	crowdfunding	NOUN
inlawrev-22390	418	3	will	will	AUX
inlawrev-22390	418	4	only	only	ADV
inlawrev-22390	418	5	be	be	AUX
inlawrev-22390	418	6	a	a	DET
inlawrev-22390	418	7	viable	viable	ADJ
inlawrev-22390	418	8	alternative	alternative	NOUN
inlawrev-22390	418	9	to	to	ADP
inlawrev-22390	418	10	businesses	business	NOUN
inlawrev-22390	418	11	if	if	SCONJ
inlawrev-22390	418	12	it	it	PRON
inlawrev-22390	418	13	is	be	AUX
inlawrev-22390	418	14	more	more	ADV
inlawrev-22390	418	15	attractive	attractive	ADJ
inlawrev-22390	418	16	or	or	CCONJ
inlawrev-22390	418	17	at	at	ADV
inlawrev-22390	418	18	least	least	ADJ
inlawrev-22390	418	19	as	as	ADV
inlawrev-22390	418	20	attractive	attractive	ADJ
inlawrev-22390	418	21	as	as	ADP
inlawrev-22390	418	22	other	other	ADJ
inlawrev-22390	418	23	options.151	options.151	NOUN
inlawrev-22390	418	24	these	these	DET
inlawrev-22390	418	25	cost	cost	NOUN
inlawrev-22390	418	26	estimates	estimate	NOUN
inlawrev-22390	418	27	challenge	challenge	VERB
inlawrev-22390	418	28	the	the	DET
inlawrev-22390	418	29	viability	viability	NOUN
inlawrev-22390	418	30	of	of	ADP
inlawrev-22390	418	31	regulation	regulation	NOUN
inlawrev-22390	418	32	crowdfunding	crowdfunde	VERB
inlawrev-22390	418	33	especially	especially	ADV
inlawrev-22390	418	34	when	when	SCONJ
inlawrev-22390	418	35	they	they	PRON
inlawrev-22390	418	36	are	be	AUX
inlawrev-22390	418	37	considered	consider	VERB
inlawrev-22390	418	38	in	in	ADP
inlawrev-22390	418	39	tandem	tandem	NOUN
inlawrev-22390	418	40	with	with	ADP
inlawrev-22390	418	41	the	the	DET
inlawrev-22390	418	42	relatively	relatively	ADV
inlawrev-22390	418	43	low	low	ADJ
inlawrev-22390	418	44	offering	offering	NOUN
inlawrev-22390	418	45	limit.152	limit.152	NOUN
inlawrev-22390	418	46	in	in	ADP
inlawrev-22390	418	47	the	the	DET
inlawrev-22390	418	48	world	world	NOUN
inlawrev-22390	418	49	of	of	ADP
inlawrev-22390	418	50	startup	startup	PROPN
inlawrev-22390	418	51	funding	funding	NOUN
inlawrev-22390	418	52	,	,	PUNCT
inlawrev-22390	418	53	$	$	SYM
inlawrev-22390	418	54	1	1	NUM
inlawrev-22390	418	55	million	million	NUM
inlawrev-22390	418	56	is	be	AUX
inlawrev-22390	418	57	not	not	PART
inlawrev-22390	418	58	a	a	DET
inlawrev-22390	418	59	lot.153	lot.153	NOUN
inlawrev-22390	418	60	it	it	PRON
inlawrev-22390	418	61	does	do	AUX
inlawrev-22390	418	62	not	not	PART
inlawrev-22390	418	63	seem	seem	VERB
inlawrev-22390	418	64	like	like	INTJ
inlawrev-22390	418	65	much	much	ADJ
inlawrev-22390	418	66	at	at	ADV
inlawrev-22390	418	67	all	all	ADV
inlawrev-22390	418	68	when	when	SCONJ
inlawrev-22390	418	69	compared	compare	VERB
inlawrev-22390	418	70	to	to	ADP
inlawrev-22390	418	71	the	the	DET
inlawrev-22390	418	72	potential	potential	ADJ
inlawrev-22390	418	73	investment	investment	NOUN
inlawrev-22390	418	74	from	from	ADP
inlawrev-22390	418	75	a	a	DET
inlawrev-22390	418	76	venture	venture	NOUN
inlawrev-22390	418	77	capitalist	capitalist	NOUN
inlawrev-22390	418	78	or	or	CCONJ
inlawrev-22390	418	79	angel	angel	NOUN
inlawrev-22390	418	80	investor.154	investor.154	NOUN
inlawrev-22390	418	81	startups	startup	NOUN
inlawrev-22390	418	82	are	be	AUX
inlawrev-22390	418	83	usually	usually	ADV
inlawrev-22390	418	84	seeking	seek	VERB
inlawrev-22390	418	85	liquid	liquid	ADJ
inlawrev-22390	418	86	capital	capital	NOUN
inlawrev-22390	418	87	because	because	SCONJ
inlawrev-22390	418	88	they	they	PRON
inlawrev-22390	418	89	currently	currently	ADV
inlawrev-22390	418	90	do	do	AUX
inlawrev-22390	418	91	not	not	PART
inlawrev-22390	418	92	have	have	VERB
inlawrev-22390	418	93	enough	enough	ADJ
inlawrev-22390	418	94	—	—	PUNCT
inlawrev-22390	418	95	or	or	CCONJ
inlawrev-22390	418	96	any.155	any.155	NOUN
inlawrev-22390	418	97	business	business	NOUN
inlawrev-22390	418	98	owners	owner	NOUN
inlawrev-22390	418	99	who	who	PRON
inlawrev-22390	418	100	do	do	VERB
inlawrev-22390	418	101	the	the	DET
inlawrev-22390	418	102	math	math	NOUN
inlawrev-22390	418	103	will	will	AUX
inlawrev-22390	418	104	find	find	VERB
inlawrev-22390	418	105	a	a	DET
inlawrev-22390	418	106	large	large	ADJ
inlawrev-22390	418	107	portion	portion	NOUN
inlawrev-22390	418	108	of	of	ADP
inlawrev-22390	418	109	that	that	DET
inlawrev-22390	418	110	capital	capital	NOUN
inlawrev-22390	418	111	is	be	AUX
inlawrev-22390	418	112	already	already	ADV
inlawrev-22390	418	113	spoken	speak	VERB
inlawrev-22390	418	114	for	for	ADP
inlawrev-22390	418	115	by	by	ADP
inlawrev-22390	418	116	compliance	compliance	NOUN
inlawrev-22390	418	117	costs	cost	NOUN
inlawrev-22390	418	118	and	and	CCONJ
inlawrev-22390	418	119	may	may	AUX
inlawrev-22390	418	120	become	become	VERB
inlawrev-22390	418	121	deterred.156	deterred.156	PROPN
inlawrev-22390	418	122	b.	b.	NOUN
inlawrev-22390	418	123	not	not	PART
inlawrev-22390	418	124	enough	enough	ADJ
inlawrev-22390	418	125	investor	investor	NOUN
inlawrev-22390	418	126	protection	protection	NOUN
inlawrev-22390	418	127	in	in	ADP
inlawrev-22390	418	128	its	its	PRON
inlawrev-22390	418	129	release	release	NOUN
inlawrev-22390	418	130	of	of	ADP
inlawrev-22390	418	131	the	the	DET
inlawrev-22390	418	132	final	final	ADJ
inlawrev-22390	418	133	rules	rule	NOUN
inlawrev-22390	418	134	,	,	PUNCT
inlawrev-22390	418	135	the	the	DET
inlawrev-22390	418	136	sec	sec	PROPN
inlawrev-22390	418	137	cited	cite	VERB
inlawrev-22390	418	138	several	several	ADJ
inlawrev-22390	418	139	studies	study	NOUN
inlawrev-22390	418	140	regarding	regard	VERB
inlawrev-22390	418	141	the	the	DET
inlawrev-22390	418	142	survival	survival	NOUN
inlawrev-22390	418	143	rates	rate	NOUN
inlawrev-22390	418	144	of	of	ADP
inlawrev-22390	418	145	startups	startup	NOUN
inlawrev-22390	418	146	and	and	CCONJ
inlawrev-22390	418	147	small	small	ADJ
inlawrev-22390	418	148	businesses	business	NOUN
inlawrev-22390	418	149	backed	back	VERB
inlawrev-22390	418	150	by	by	ADP
inlawrev-22390	418	151	venture	venture	NOUN
inlawrev-22390	418	152	capital	capital	NOUN
inlawrev-22390	418	153	specifically.157	specifically.157	NOUN
inlawrev-22390	418	154	one	one	NUM
inlawrev-22390	418	155	study	study	NOUN
inlawrev-22390	418	156	suggested	suggest	VERB
inlawrev-22390	418	157	that	that	SCONJ
inlawrev-22390	418	158	nearly	nearly	ADV
inlawrev-22390	418	159	75	75	NUM
inlawrev-22390	418	160	%	%	NOUN
inlawrev-22390	418	161	of	of	ADP
inlawrev-22390	418	162	companies	company	NOUN
inlawrev-22390	418	163	receiving	receive	VERB
inlawrev-22390	418	164	$	$	SYM
inlawrev-22390	418	165	1	1	NUM
inlawrev-22390	418	166	million	million	NUM
inlawrev-22390	418	167	in	in	ADP
inlawrev-22390	418	168	venture	venture	NOUN
inlawrev-22390	418	169	funding	funding	NOUN
inlawrev-22390	418	170	went	go	VERB
inlawrev-22390	418	171	on	on	ADP
inlawrev-22390	418	172	to	to	ADP
inlawrev-22390	418	173	fail.158	fail.158	PROPN
inlawrev-22390	418	174	the	the	DET
inlawrev-22390	418	175	sec	sec	PROPN
inlawrev-22390	418	176	expects	expect	VERB
inlawrev-22390	418	177	a	a	DET
inlawrev-22390	418	178	higher	high	ADJ
inlawrev-22390	418	179	failure	failure	NOUN
inlawrev-22390	418	180	rate	rate	NOUN
inlawrev-22390	418	181	than	than	ADP
inlawrev-22390	418	182	even	even	ADV
inlawrev-22390	418	183	these	these	DET
inlawrev-22390	418	184	studies	study	NOUN
inlawrev-22390	418	185	show	show	VERB
inlawrev-22390	418	186	due	due	ADP
inlawrev-22390	418	187	to	to	ADP
inlawrev-22390	418	188	the	the	DET
inlawrev-22390	418	189	early	early	ADJ
inlawrev-22390	418	190	stage	stage	NOUN
inlawrev-22390	418	191	of	of	ADP
inlawrev-22390	418	192	business	business	NOUN
inlawrev-22390	418	193	development	development	NOUN
inlawrev-22390	418	194	of	of	ADP
inlawrev-22390	418	195	expected	expect	VERB
inlawrev-22390	418	196	participants	participant	NOUN
inlawrev-22390	418	197	in	in	ADP
inlawrev-22390	418	198	regulation	regulation	NOUN
inlawrev-22390	418	199	crowdfunding.159	crowdfunding.159	NOUN
inlawrev-22390	418	200	one	one	NUM
inlawrev-22390	418	201	of	of	ADP
inlawrev-22390	418	202	the	the	DET
inlawrev-22390	418	203	most	most	ADV
inlawrev-22390	418	204	significant	significant	ADJ
inlawrev-22390	418	205	risks	risk	NOUN
inlawrev-22390	418	206	to	to	ADP
inlawrev-22390	418	207	crowdfunding	crowdfunde	VERB
inlawrev-22390	418	208	investors	investor	NOUN
inlawrev-22390	418	209	is	be	AUX
inlawrev-22390	418	210	dilution	dilution	NOUN
inlawrev-22390	418	211	of	of	ADP
inlawrev-22390	418	212	the	the	DET
inlawrev-22390	418	213	value	value	NOUN
inlawrev-22390	418	214	of	of	ADP
inlawrev-22390	418	215	their	their	PRON
inlawrev-22390	418	216	shares	share	NOUN
inlawrev-22390	418	217	in	in	ADP
inlawrev-22390	418	218	the	the	DET
inlawrev-22390	418	219	issuer.160	issuer.160	NOUN
inlawrev-22390	418	220	startups	startup	NOUN
inlawrev-22390	418	221	that	that	PRON
inlawrev-22390	418	222	successfully	successfully	ADV
inlawrev-22390	418	223	crowdfund	crowdfund	VERB
inlawrev-22390	418	224	initially	initially	ADV
inlawrev-22390	418	225	will	will	AUX
inlawrev-22390	418	226	likely	likely	ADV
inlawrev-22390	418	227	need	need	VERB
inlawrev-22390	418	228	to	to	PART
inlawrev-22390	418	229	seek	seek	VERB
inlawrev-22390	418	230	future	future	ADJ
inlawrev-22390	418	231	funding	funding	NOUN
inlawrev-22390	418	232	from	from	ADP
inlawrev-22390	418	233	more	more	ADV
inlawrev-22390	418	234	traditional	traditional	ADJ
inlawrev-22390	418	235	sources	source	NOUN
inlawrev-22390	418	236	such	such	ADJ
inlawrev-22390	418	237	as	as	ADP
inlawrev-22390	418	238	venture	venture	NOUN
inlawrev-22390	418	239	capitalists	capitalist	NOUN
inlawrev-22390	418	240	and	and	CCONJ
inlawrev-22390	418	241	angel	angel	NOUN
inlawrev-22390	418	242	investors.161	investors.161	ADJ
inlawrev-22390	418	243	when	when	SCONJ
inlawrev-22390	418	244	new	new	ADJ
inlawrev-22390	418	245	shares	share	NOUN
inlawrev-22390	418	246	are	be	AUX
inlawrev-22390	418	247	subsequently	subsequently	ADV
inlawrev-22390	418	248	sold	sell	VERB
inlawrev-22390	418	249	to	to	ADP
inlawrev-22390	418	250	venture	venture	VERB
inlawrev-22390	418	251	capitalists	capitalist	NOUN
inlawrev-22390	418	252	,	,	PUNCT
inlawrev-22390	418	253	the	the	DET
inlawrev-22390	418	254	original	original	ADJ
inlawrev-22390	418	255	crowdfunding	crowdfunding	NOUN
inlawrev-22390	418	256	investors	investor	NOUN
inlawrev-22390	418	257	’	'	PUNCT
inlawrev-22390	418	258	relative	relative	ADJ
inlawrev-22390	418	259	percentage	percentage	NOUN
inlawrev-22390	418	260	of	of	ADP
inlawrev-22390	418	261	ownership	ownership	NOUN
inlawrev-22390	418	262	in	in	ADP
inlawrev-22390	418	263	the	the	DET
inlawrev-22390	418	264	company	company	NOUN
inlawrev-22390	418	265	could	could	AUX
inlawrev-22390	418	266	decrease	decrease	VERB
inlawrev-22390	418	267	dramatically.162	dramatically.162	PROPN
inlawrev-22390	418	268	venture	venture	NOUN
inlawrev-22390	418	269	capitalists	capitalist	NOUN
inlawrev-22390	418	270	typically	typically	ADV
inlawrev-22390	418	271	seek	seek	VERB
inlawrev-22390	418	272	contractual	contractual	ADJ
inlawrev-22390	418	273	protections	protection	NOUN
inlawrev-22390	418	274	against	against	ADP
inlawrev-22390	418	275	dilution.163	dilution.163	VERB
inlawrev-22390	418	276	the	the	DET
inlawrev-22390	418	277	final	final	ADJ
inlawrev-22390	418	278	rules	rule	NOUN
inlawrev-22390	418	279	adopted	adopt	VERB
inlawrev-22390	418	280	by	by	ADP
inlawrev-22390	418	281	the	the	DET
inlawrev-22390	418	282	sec	sec	PROPN
inlawrev-22390	418	283	do	do	AUX
inlawrev-22390	418	284	not	not	PART
inlawrev-22390	418	285	contain	contain	VERB
inlawrev-22390	418	286	any	any	DET
inlawrev-22390	418	287	automatic	automatic	ADJ
inlawrev-22390	418	288	protection	protection	NOUN
inlawrev-22390	418	289	against	against	ADP
inlawrev-22390	418	290	dilution.1	dilution.1	NOUN
inlawrev-22390	418	291	6	6	NUM
inlawrev-22390	418	292	4	4	NUM
inlawrev-22390	418	293	the	the	DET
inlawrev-22390	418	294	low	low	ADJ
inlawrev-22390	418	295	investment	investment	NOUN
inlawrev-22390	418	296	limits	limit	NOUN
inlawrev-22390	418	297	imposed	impose	VERB
inlawrev-22390	418	298	by	by	ADP
inlawrev-22390	418	299	the	the	DET
inlawrev-22390	418	300	rules	rule	NOUN
inlawrev-22390	418	301	as	as	ADV
inlawrev-22390	418	302	well	well	ADV
inlawrev-22390	418	303	as	as	ADP
inlawrev-22390	418	304	the	the	DET
inlawrev-22390	418	305	151	151	NUM
inlawrev-22390	418	306	.	.	PUNCT
inlawrev-22390	419	1	hogan	hogan	PROPN
inlawrev-22390	419	2	,	,	PUNCT
inlawrev-22390	419	3	supra	supra	PROPN
inlawrev-22390	419	4	note	note	PROPN
inlawrev-22390	419	5	10	10	NUM
inlawrev-22390	419	6	,	,	PUNCT
inlawrev-22390	419	7	at	at	ADP
inlawrev-22390	419	8	1114	1114	NUM
inlawrev-22390	419	9	.	.	PUNCT
inlawrev-22390	420	1	152	152	NUM
inlawrev-22390	420	2	.	.	PUNCT
inlawrev-22390	420	3	rogers	roger	NOUN
inlawrev-22390	420	4	,	,	PUNCT
inlawrev-22390	420	5	supra	supra	PROPN
inlawrev-22390	420	6	note	note	NOUN
inlawrev-22390	420	7	3	3	NUM
inlawrev-22390	420	8	,	,	PUNCT
inlawrev-22390	420	9	at	at	ADP
inlawrev-22390	420	10	370	370	NUM
inlawrev-22390	420	11	-	-	SYM
inlawrev-22390	420	12	71	71	NUM
inlawrev-22390	420	13	.	.	PUNCT
inlawrev-22390	420	14	153	153	NUM
inlawrev-22390	420	15	.	.	PUNCT
inlawrev-22390	421	1	i	i	PRON
inlawrev-22390	421	2	d.	d.	PROPN
inlawrev-22390	421	3	at	at	ADP
inlawrev-22390	421	4	371	371	NUM
inlawrev-22390	421	5	.	.	PUNCT
inlawrev-22390	422	1	154	154	NUM
inlawrev-22390	422	2	.	.	PUNCT
inlawrev-22390	423	1	wroldsen	wroldsen	PROPN
inlawrev-22390	423	2	,	,	PUNCT
inlawrev-22390	423	3	supra	supra	PROPN
inlawrev-22390	423	4	note	note	NOUN
inlawrev-22390	423	5	1	1	NUM
inlawrev-22390	423	6	,	,	PUNCT
inlawrev-22390	423	7	at	at	ADP
inlawrev-22390	423	8	615	615	NUM
inlawrev-22390	423	9	-	-	SYM
inlawrev-22390	423	10	16	16	NUM
inlawrev-22390	423	11	.	.	PUNCT
inlawrev-22390	424	1	a	a	DET
inlawrev-22390	424	2	venture	venture	NOUN
inlawrev-22390	424	3	capitalist	capitalist	NOUN
inlawrev-22390	424	4	may	may	AUX
inlawrev-22390	424	5	invest	invest	VERB
inlawrev-22390	424	6	$	$	SYM
inlawrev-22390	424	7	2,000,000	2,000,000	NUM
inlawrev-22390	424	8	to	to	PART
inlawrev-22390	424	9	$	$	SYM
inlawrev-22390	424	10	10,000,000	10,000,000	NUM
inlawrev-22390	424	11	in	in	ADP
inlawrev-22390	424	12	a	a	DET
inlawrev-22390	424	13	typical	typical	ADJ
inlawrev-22390	424	14	funding	funding	NOUN
inlawrev-22390	424	15	round	round	NOUN
inlawrev-22390	424	16	.	.	PUNCT
inlawrev-22390	425	1	i	i	PRON
inlawrev-22390	425	2	d.	d.	PROPN
inlawrev-22390	425	3	155	155	NUM
inlawrev-22390	425	4	.	.	PUNCT
inlawrev-22390	426	1	rogers	rogers	PROPN
inlawrev-22390	426	2	,	,	PUNCT
inlawrev-22390	426	3	supra	supra	PROPN
inlawrev-22390	426	4	note	note	NOUN
inlawrev-22390	426	5	3	3	NUM
inlawrev-22390	426	6	,	,	PUNCT
inlawrev-22390	426	7	at	at	ADP
inlawrev-22390	426	8	370	370	NUM
inlawrev-22390	426	9	.	.	PUNCT
inlawrev-22390	427	1	156	156	NUM
inlawrev-22390	427	2	.	.	PUNCT
inlawrev-22390	428	1	i	i	PRON
inlawrev-22390	428	2	d.	d.	PROPN
inlawrev-22390	428	3	157	157	NUM
inlawrev-22390	428	4	.	.	PUNCT
inlawrev-22390	429	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	429	2	,	,	PUNCT
inlawrev-22390	429	3	80	80	NUM
inlawrev-22390	429	4	fed	feed	VERB
inlawrev-22390	429	5	.	.	PUNCT
inlawrev-22390	430	1	reg	reg	PROPN
inlawrev-22390	430	2	.	.	PUNCT
inlawrev-22390	431	1	71,388	71,388	NUM
inlawrev-22390	431	2	,	,	PUNCT
inlawrev-22390	431	3	71,489	71,489	NUM
inlawrev-22390	431	4	(	(	PUNCT
inlawrev-22390	431	5	nov	nov	PROPN
inlawrev-22390	431	6	.	.	PROPN
inlawrev-22390	431	7	16	16	NUM
inlawrev-22390	431	8	,	,	PUNCT
inlawrev-22390	431	9	2015	2015	NUM
inlawrev-22390	431	10	)	)	PUNCT
inlawrev-22390	431	11	.	.	PUNCT
inlawrev-22390	432	1	158	158	X
inlawrev-22390	432	2	.	.	PUNCT
inlawrev-22390	433	1	i	i	PRON
inlawrev-22390	433	2	d.	d.	PROPN
inlawrev-22390	433	3	159	159	NUM
inlawrev-22390	433	4	.	.	PUNCT
inlawrev-22390	434	1	i	i	PRON
inlawrev-22390	434	2	d.	d.	PROPN
inlawrev-22390	434	3	160	160	NUM
inlawrev-22390	434	4	.	.	PUNCT
inlawrev-22390	434	5	see	see	VERB
inlawrev-22390	434	6	generally	generally	ADV
inlawrev-22390	434	7	wroldsen	wroldsen	ADJ
inlawrev-22390	434	8	,	,	PUNCT
inlawrev-22390	434	9	supra	supra	PROPN
inlawrev-22390	434	10	note	note	NOUN
inlawrev-22390	434	11	1	1	NUM
inlawrev-22390	434	12	,	,	PUNCT
inlawrev-22390	434	13	at	at	ADP
inlawrev-22390	434	14	613	613	NUM
inlawrev-22390	434	15	-	-	SYM
inlawrev-22390	434	16	20	20	NUM
inlawrev-22390	434	17	.	.	PUNCT
inlawrev-22390	434	18	161	161	NUM
inlawrev-22390	434	19	.	.	PUNCT
inlawrev-22390	435	1	i	i	PRON
inlawrev-22390	435	2	d.	d.	PROPN
inlawrev-22390	435	3	at	at	ADP
inlawrev-22390	435	4	615	615	NUM
inlawrev-22390	435	5	-	-	SYM
inlawrev-22390	435	6	16	16	NUM
inlawrev-22390	435	7	.	.	PUNCT
inlawrev-22390	436	1	162	162	NUM
inlawrev-22390	436	2	.	.	PUNCT
inlawrev-22390	437	1	i	i	PRON
inlawrev-22390	437	2	d.	d.	PROPN
inlawrev-22390	437	3	at	at	ADP
inlawrev-22390	437	4	616	616	NUM
inlawrev-22390	437	5	.	.	PUNCT
inlawrev-22390	438	1	wroldsen	wroldsen	PROPN
inlawrev-22390	438	2	uses	use	VERB
inlawrev-22390	438	3	the	the	DET
inlawrev-22390	438	4	example	example	NOUN
inlawrev-22390	438	5	of	of	ADP
inlawrev-22390	438	6	early	early	ADJ
inlawrev-22390	438	7	facebook	facebook	PROPN
inlawrev-22390	438	8	investor	investor	PROPN
inlawrev-22390	438	9	eduardo	eduardo	PROPN
inlawrev-22390	438	10	saverin	saverin	PROPN
inlawrev-22390	438	11	whose	whose	DET
inlawrev-22390	438	12	stock	stock	NOUN
inlawrev-22390	438	13	was	be	AUX
inlawrev-22390	438	14	diluted	dilute	VERB
inlawrev-22390	438	15	from	from	ADP
inlawrev-22390	438	16	a	a	DET
inlawrev-22390	438	17	30	30	NUM
inlawrev-22390	438	18	%	%	NOUN
inlawrev-22390	438	19	ownership	ownership	NOUN
inlawrev-22390	438	20	share	share	NOUN
inlawrev-22390	438	21	to	to	ADP
inlawrev-22390	438	22	.03	.03	NUM
inlawrev-22390	438	23	%	%	NOUN
inlawrev-22390	438	24	after	after	SCONJ
inlawrev-22390	438	25	twenty	twenty	NUM
inlawrev-22390	438	26	four	four	NUM
inlawrev-22390	438	27	million	million	NUM
inlawrev-22390	438	28	shares	share	NOUN
inlawrev-22390	438	29	were	be	AUX
inlawrev-22390	438	30	issued	issue	VERB
inlawrev-22390	438	31	in	in	ADP
inlawrev-22390	438	32	a	a	DET
inlawrev-22390	438	33	subsequent	subsequent	ADJ
inlawrev-22390	438	34	round	round	NOUN
inlawrev-22390	438	35	.	.	PUNCT
inlawrev-22390	439	1	i	i	PRON
inlawrev-22390	439	2	d.	d.	PROPN
inlawrev-22390	439	3	at	at	ADP
inlawrev-22390	439	4	585	585	NUM
inlawrev-22390	439	5	,	,	PUNCT
inlawrev-22390	439	6	614	614	NUM
inlawrev-22390	439	7	.	.	NOUN
inlawrev-22390	439	8	163	163	NUM
inlawrev-22390	439	9	.	.	PUNCT
inlawrev-22390	440	1	i	i	PRON
inlawrev-22390	440	2	d.	d.	PROPN
inlawrev-22390	440	3	at	at	ADP
inlawrev-22390	440	4	614	614	NUM
inlawrev-22390	440	5	.	.	PUNCT
inlawrev-22390	440	6	164	164	NUM
inlawrev-22390	440	7	.	.	PUNCT
inlawrev-22390	441	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	441	2	,	,	PUNCT
inlawrev-22390	441	3	80	80	NUM
inlawrev-22390	441	4	fed	feed	VERB
inlawrev-22390	441	5	.	.	PUNCT
inlawrev-22390	442	1	reg	reg	PROPN
inlawrev-22390	442	2	.	.	PUNCT
inlawrev-22390	443	1	71,388	71,388	NUM
inlawrev-22390	443	2	,	,	PUNCT
inlawrev-22390	443	3	71,493	71,493	NUM
inlawrev-22390	443	4	.	.	PUNCT
inlawrev-22390	444	1	2018	2018	NUM
inlawrev-22390	444	2	]	]	PUNCT
inlawrev-22390	444	3	false	false	ADJ
inlawrev-22390	444	4	start	start	NOUN
inlawrev-22390	444	5	:	:	PUNCT
inlawrev-22390	444	6	carving	carve	VERB
inlawrev-22390	444	7	a	a	DET
inlawrev-22390	444	8	niche	niche	NOUN
inlawrev-22390	444	9	293	293	NUM
inlawrev-22390	444	10	likely	likely	ADJ
inlawrev-22390	444	11	lack	lack	NOUN
inlawrev-22390	444	12	of	of	ADP
inlawrev-22390	444	13	sophistication	sophistication	NOUN
inlawrev-22390	444	14	and	and	CCONJ
inlawrev-22390	444	15	bargaining	bargaining	NOUN
inlawrev-22390	444	16	power	power	NOUN
inlawrev-22390	444	17	in	in	ADP
inlawrev-22390	444	18	the	the	DET
inlawrev-22390	444	19	investor	investor	NOUN
inlawrev-22390	444	20	or	or	CCONJ
inlawrev-22390	444	21	even	even	ADV
inlawrev-22390	444	22	a	a	DET
inlawrev-22390	444	23	mechanism	mechanism	NOUN
inlawrev-22390	444	24	to	to	PART
inlawrev-22390	444	25	negotiate	negotiate	VERB
inlawrev-22390	444	26	such	such	ADJ
inlawrev-22390	444	27	protections	protection	NOUN
inlawrev-22390	444	28	makes	make	VERB
inlawrev-22390	444	29	this	this	DET
inlawrev-22390	444	30	risk	risk	NOUN
inlawrev-22390	444	31	potentially	potentially	ADV
inlawrev-22390	444	32	substantial.165	substantial.165	VERB
inlawrev-22390	444	33	v.	v.	ADP
inlawrev-22390	444	34	promoting	promote	VERB
inlawrev-22390	444	35	seasoned	season	VERB
inlawrev-22390	444	36	small	small	ADJ
inlawrev-22390	444	37	business	business	NOUN
inlawrev-22390	444	38	as	as	ADP
inlawrev-22390	444	39	a	a	DET
inlawrev-22390	444	40	compromise	compromise	NOUN
inlawrev-22390	444	41	investor	investor	NOUN
inlawrev-22390	444	42	risk	risk	NOUN
inlawrev-22390	444	43	can	can	AUX
inlawrev-22390	444	44	be	be	AUX
inlawrev-22390	444	45	reduced	reduce	VERB
inlawrev-22390	444	46	in	in	ADP
inlawrev-22390	444	47	two	two	NUM
inlawrev-22390	444	48	ways	way	NOUN
inlawrev-22390	444	49	:	:	PUNCT
inlawrev-22390	444	50	by	by	ADP
inlawrev-22390	444	51	increasing	increase	VERB
inlawrev-22390	444	52	the	the	DET
inlawrev-22390	444	53	amount	amount	NOUN
inlawrev-22390	444	54	of	of	ADP
inlawrev-22390	444	55	regulation	regulation	NOUN
inlawrev-22390	444	56	on	on	ADP
inlawrev-22390	444	57	the	the	DET
inlawrev-22390	444	58	issuer	issuer	NOUN
inlawrev-22390	444	59	(	(	PUNCT
inlawrev-22390	444	60	or	or	CCONJ
inlawrev-22390	444	61	the	the	DET
inlawrev-22390	444	62	investor	investor	NOUN
inlawrev-22390	444	63	)	)	PUNCT
inlawrev-22390	444	64	or	or	CCONJ
inlawrev-22390	444	65	by	by	ADP
inlawrev-22390	444	66	decreasing	decrease	VERB
inlawrev-22390	444	67	the	the	DET
inlawrev-22390	444	68	risk	risk	NOUN
inlawrev-22390	444	69	presented	present	VERB
inlawrev-22390	444	70	to	to	ADP
inlawrev-22390	444	71	the	the	DET
inlawrev-22390	444	72	investor	investor	NOUN
inlawrev-22390	444	73	in	in	ADP
inlawrev-22390	444	74	the	the	DET
inlawrev-22390	444	75	first	first	ADJ
inlawrev-22390	444	76	place.1	place.1	PROPN
inlawrev-22390	444	77	6	6	NUM
inlawrev-22390	444	78	6	6	NUM
inlawrev-22390	444	79	startups	startup	NOUN
inlawrev-22390	444	80	are	be	AUX
inlawrev-22390	444	81	inherently	inherently	ADV
inlawrev-22390	444	82	risky.167	risky.167	ADJ
inlawrev-22390	444	83	seasoned	season	VERB
inlawrev-22390	444	84	businesses	business	NOUN
inlawrev-22390	444	85	are	be	AUX
inlawrev-22390	444	86	less	less	ADJ
inlawrev-22390	444	87	risky.168	risky.168	NOUN
inlawrev-22390	444	88	the	the	DET
inlawrev-22390	444	89	end	end	NOUN
inlawrev-22390	444	90	goal	goal	NOUN
inlawrev-22390	444	91	of	of	ADP
inlawrev-22390	444	92	increased	increase	VERB
inlawrev-22390	444	93	capital	capital	NOUN
inlawrev-22390	444	94	could	could	AUX
inlawrev-22390	444	95	be	be	AUX
inlawrev-22390	444	96	achieved	achieve	VERB
inlawrev-22390	444	97	with	with	ADP
inlawrev-22390	444	98	regulations	regulation	NOUN
inlawrev-22390	444	99	tailored	tailor	VERB
inlawrev-22390	444	100	to	to	ADP
inlawrev-22390	444	101	the	the	DET
inlawrev-22390	444	102	risk	risk	NOUN
inlawrev-22390	444	103	level	level	NOUN
inlawrev-22390	444	104	presented	present	VERB
inlawrev-22390	444	105	by	by	ADP
inlawrev-22390	444	106	the	the	DET
inlawrev-22390	444	107	business	business	NOUN
inlawrev-22390	444	108	itself.169	itself.169	PROPN
inlawrev-22390	444	109	small	small	ADJ
inlawrev-22390	444	110	businesses	business	NOUN
inlawrev-22390	444	111	account	account	VERB
inlawrev-22390	444	112	for	for	ADP
inlawrev-22390	444	113	approximately	approximately	ADV
inlawrev-22390	444	114	99	99	NUM
inlawrev-22390	444	115	%	%	NOUN
inlawrev-22390	444	116	of	of	ADP
inlawrev-22390	444	117	all	all	DET
inlawrev-22390	444	118	employer	employer	NOUN
inlawrev-22390	444	119	firms	firm	NOUN
inlawrev-22390	444	120	in	in	ADP
inlawrev-22390	444	121	the	the	DET
inlawrev-22390	444	122	united	united	PROPN
inlawrev-22390	444	123	states.170	states.170	PROPN
inlawrev-22390	444	124	nearly	nearly	ADV
inlawrev-22390	444	125	50	50	NUM
inlawrev-22390	444	126	%	%	NOUN
inlawrev-22390	444	127	of	of	ADP
inlawrev-22390	444	128	all	all	DET
inlawrev-22390	444	129	workers	worker	NOUN
inlawrev-22390	444	130	run	run	VERB
inlawrev-22390	444	131	or	or	CCONJ
inlawrev-22390	444	132	work	work	VERB
inlawrev-22390	444	133	for	for	ADP
inlawrev-22390	444	134	a	a	DET
inlawrev-22390	444	135	small	small	ADJ
inlawrev-22390	444	136	business.1	business.1	NOUN
inlawrev-22390	444	137	71	71	NUM
inlawrev-22390	444	138	according	accord	VERB
inlawrev-22390	444	139	to	to	ADP
inlawrev-22390	444	140	its	its	PRON
inlawrev-22390	444	141	2016	2016	NUM
inlawrev-22390	444	142	mid	mid	ADJ
inlawrev-22390	444	143	-	-	ADJ
inlawrev-22390	444	144	year	year	ADJ
inlawrev-22390	444	145	economic	economic	ADJ
inlawrev-22390	444	146	report	report	NOUN
inlawrev-22390	444	147	,	,	PUNCT
inlawrev-22390	444	148	the	the	DET
inlawrev-22390	444	149	national	national	ADJ
inlawrev-22390	444	150	small	small	PROPN
inlawrev-22390	444	151	business	business	PROPN
inlawrev-22390	444	152	association	association	NOUN
inlawrev-22390	444	153	found	find	VERB
inlawrev-22390	444	154	that	that	SCONJ
inlawrev-22390	444	155	70	70	NUM
inlawrev-22390	444	156	%	%	NOUN
inlawrev-22390	444	157	of	of	ADP
inlawrev-22390	444	158	small	small	ADJ
inlawrev-22390	444	159	businesses	business	NOUN
inlawrev-22390	444	160	expected	expect	VERB
inlawrev-22390	444	161	growth	growth	NOUN
inlawrev-22390	444	162	in	in	ADP
inlawrev-22390	444	163	the	the	DET
inlawrev-22390	444	164	next	next	ADJ
inlawrev-22390	444	165	twelve	twelve	NUM
inlawrev-22390	444	166	months	month	NOUN
inlawrev-22390	444	167	or	or	CCONJ
inlawrev-22390	444	168	were	be	AUX
inlawrev-22390	444	169	already	already	ADV
inlawrev-22390	444	170	growing.172	growing.172	ADJ
inlawrev-22390	444	171	conversely	conversely	ADV
inlawrev-22390	444	172	,	,	PUNCT
inlawrev-22390	444	173	31	31	NUM
inlawrev-22390	444	174	%	%	NOUN
inlawrev-22390	444	175	of	of	ADP
inlawrev-22390	444	176	small	small	ADJ
inlawrev-22390	444	177	businesses	business	NOUN
inlawrev-22390	444	178	were	be	AUX
inlawrev-22390	444	179	unable	unable	ADJ
inlawrev-22390	444	180	to	to	PART
inlawrev-22390	444	181	find	find	VERB
inlawrev-22390	444	182	adequate	adequate	ADJ
inlawrev-22390	444	183	financing	financing	NOUN
inlawrev-22390	444	184	,	,	PUNCT
inlawrev-22390	444	185	and	and	CCONJ
inlawrev-22390	444	186	nearly	nearly	ADV
inlawrev-22390	444	187	41	41	NUM
inlawrev-22390	444	188	%	%	NOUN
inlawrev-22390	444	189	of	of	ADP
inlawrev-22390	444	190	businesses	business	NOUN
inlawrev-22390	444	191	said	say	VERB
inlawrev-22390	444	192	a	a	DET
inlawrev-22390	444	193	lack	lack	NOUN
inlawrev-22390	444	194	of	of	ADP
inlawrev-22390	444	195	capital	capital	NOUN
inlawrev-22390	444	196	was	be	AUX
inlawrev-22390	444	197	hindering	hinder	VERB
inlawrev-22390	444	198	the	the	DET
inlawrev-22390	444	199	ability	ability	NOUN
inlawrev-22390	444	200	to	to	PART
inlawrev-22390	444	201	hire	hire	VERB
inlawrev-22390	444	202	workers	worker	NOUN
inlawrev-22390	444	203	or	or	CCONJ
inlawrev-22390	444	204	expand	expand	VERB
inlawrev-22390	444	205	operations.173	operations.173	PROPN
inlawrev-22390	444	206	the	the	DET
inlawrev-22390	444	207	national	national	ADJ
inlawrev-22390	444	208	small	small	PROPN
inlawrev-22390	444	209	business	business	PROPN
inlawrev-22390	444	210	association	association	PROPN
inlawrev-22390	444	211	’s	’s	PART
inlawrev-22390	444	212	data	datum	NOUN
inlawrev-22390	444	213	going	go	VERB
inlawrev-22390	444	214	back	back	ADV
inlawrev-22390	444	215	to	to	ADP
inlawrev-22390	444	216	the	the	DET
inlawrev-22390	444	217	1990s	1990s	NUM
inlawrev-22390	444	218	shows	show	VERB
inlawrev-22390	444	219	a	a	DET
inlawrev-22390	444	220	“	"	PUNCT
inlawrev-22390	444	221	clear	clear	ADJ
inlawrev-22390	444	222	correlation	correlation	NOUN
inlawrev-22390	444	223	”	"	PUNCT
inlawrev-22390	444	224	between	between	ADP
inlawrev-22390	444	225	a	a	DET
inlawrev-22390	444	226	small	small	ADJ
inlawrev-22390	444	227	business	business	NOUN
inlawrev-22390	444	228	’s	’s	PART
inlawrev-22390	444	229	access	access	NOUN
inlawrev-22390	444	230	to	to	ADP
inlawrev-22390	444	231	financing	financing	NOUN
inlawrev-22390	444	232	and	and	CCONJ
inlawrev-22390	444	233	ability	ability	NOUN
inlawrev-22390	444	234	to	to	PART
inlawrev-22390	444	235	hire.174	hire.174	VERB
inlawrev-22390	444	236	although	although	SCONJ
inlawrev-22390	444	237	this	this	DET
inlawrev-22390	444	238	report	report	NOUN
inlawrev-22390	444	239	does	do	AUX
inlawrev-22390	444	240	not	not	PART
inlawrev-22390	444	241	break	break	VERB
inlawrev-22390	444	242	down	down	ADP
inlawrev-22390	444	243	the	the	DET
inlawrev-22390	444	244	data	datum	NOUN
inlawrev-22390	444	245	by	by	ADP
inlawrev-22390	444	246	a	a	DET
inlawrev-22390	444	247	business	business	NOUN
inlawrev-22390	444	248	’s	’s	PART
inlawrev-22390	444	249	age,175	age,175	X
inlawrev-22390	444	250	at	at	ADV
inlawrev-22390	444	251	least	least	ADV
inlawrev-22390	444	252	37	37	NUM
inlawrev-22390	444	253	%	%	NOUN
inlawrev-22390	444	254	of	of	ADP
inlawrev-22390	444	255	the	the	DET
inlawrev-22390	444	256	sample	sample	NOUN
inlawrev-22390	444	257	size	size	NOUN
inlawrev-22390	444	258	had	have	VERB
inlawrev-22390	444	259	six	six	NUM
inlawrev-22390	444	260	or	or	CCONJ
inlawrev-22390	444	261	more	more	ADJ
inlawrev-22390	444	262	employees	employee	NOUN
inlawrev-22390	444	263	,	,	PUNCT
inlawrev-22390	444	264	which	which	PRON
inlawrev-22390	444	265	would	would	AUX
inlawrev-22390	444	266	indicate	indicate	VERB
inlawrev-22390	444	267	that	that	SCONJ
inlawrev-22390	444	268	they	they	PRON
inlawrev-22390	444	269	likely	likely	ADV
inlawrev-22390	444	270	were	be	AUX
inlawrev-22390	444	271	not	not	PART
inlawrev-22390	444	272	startups.176	startups.176	NOUN
inlawrev-22390	444	273	a.	a.	NOUN
inlawrev-22390	444	274	the	the	DET
inlawrev-22390	444	275	impact	impact	NOUN
inlawrev-22390	444	276	of	of	ADP
inlawrev-22390	444	277	seasoned	seasoned	ADJ
inlawrev-22390	444	278	small	small	ADJ
inlawrev-22390	444	279	businesses	business	NOUN
inlawrev-22390	444	280	on	on	ADP
inlawrev-22390	444	281	the	the	DET
inlawrev-22390	444	282	economy	economy	NOUN
inlawrev-22390	444	283	there	there	PRON
inlawrev-22390	444	284	is	be	VERB
inlawrev-22390	444	285	a	a	DET
inlawrev-22390	444	286	debate	debate	NOUN
inlawrev-22390	444	287	among	among	ADP
inlawrev-22390	444	288	economists	economist	NOUN
inlawrev-22390	444	289	over	over	ADP
inlawrev-22390	444	290	whether	whether	SCONJ
inlawrev-22390	444	291	startups	startup	NOUN
inlawrev-22390	444	292	or	or	CCONJ
inlawrev-22390	444	293	existing	exist	VERB
inlawrev-22390	444	294	businesses	business	NOUN
inlawrev-22390	444	295	add	add	VERB
inlawrev-22390	444	296	more	more	ADJ
inlawrev-22390	444	297	jobs	job	NOUN
inlawrev-22390	444	298	to	to	ADP
inlawrev-22390	444	299	the	the	DET
inlawrev-22390	444	300	economy.177	economy.177	PROPN
inlawrev-22390	444	301	both	both	CCONJ
inlawrev-22390	444	302	startups	startup	NOUN
inlawrev-22390	444	303	and	and	CCONJ
inlawrev-22390	444	304	existing	exist	VERB
inlawrev-22390	444	305	businesses	business	NOUN
inlawrev-22390	444	306	can	can	AUX
inlawrev-22390	444	307	obviously	obviously	ADV
inlawrev-22390	444	308	create	create	VERB
inlawrev-22390	444	309	jobs	job	NOUN
inlawrev-22390	444	310	,	,	PUNCT
inlawrev-22390	444	311	but	but	CCONJ
inlawrev-22390	444	312	determining	determine	VERB
inlawrev-22390	444	313	what	what	DET
inlawrev-22390	444	314	proportion	proportion	NOUN
inlawrev-22390	444	315	each	each	PRON
inlawrev-22390	444	316	adds	add	VERB
inlawrev-22390	444	317	is	be	AUX
inlawrev-22390	444	318	problematic.178	problematic.178	NUM
inlawrev-22390	444	319	some	some	DET
inlawrev-22390	444	320	studies	study	NOUN
inlawrev-22390	444	321	indicate	indicate	VERB
inlawrev-22390	444	322	that	that	SCONJ
inlawrev-22390	444	323	startups	startup	NOUN
inlawrev-22390	444	324	are	be	AUX
inlawrev-22390	444	325	responsible	responsible	ADJ
inlawrev-22390	444	326	for	for	ADP
inlawrev-22390	444	327	almost	almost	ADV
inlawrev-22390	444	328	all	all	DET
inlawrev-22390	444	329	165	165	NUM
inlawrev-22390	444	330	.	.	PUNCT
inlawrev-22390	445	1	i	i	PRON
inlawrev-22390	445	2	d.	d.	PROPN
inlawrev-22390	445	3	;	;	PUNCT
inlawrev-22390	445	4	wroldsen	wroldsen	PROPN
inlawrev-22390	445	5	,	,	PUNCT
inlawrev-22390	445	6	supra	supra	PROPN
inlawrev-22390	445	7	note	note	NOUN
inlawrev-22390	445	8	1	1	NUM
inlawrev-22390	445	9	,	,	PUNCT
inlawrev-22390	445	10	at	at	ADP
inlawrev-22390	445	11	614	614	NUM
inlawrev-22390	445	12	.	.	PUNCT
inlawrev-22390	445	13	166	166	NUM
inlawrev-22390	445	14	.	.	PUNCT
inlawrev-22390	446	1	hogan	hogan	PROPN
inlawrev-22390	446	2	,	,	PUNCT
inlawrev-22390	446	3	supra	supra	PROPN
inlawrev-22390	446	4	note	note	PROPN
inlawrev-22390	446	5	10	10	NUM
inlawrev-22390	446	6	,	,	PUNCT
inlawrev-22390	446	7	at	at	ADP
inlawrev-22390	446	8	1096	1096	NUM
inlawrev-22390	446	9	.	.	PUNCT
inlawrev-22390	447	1	167	167	NUM
inlawrev-22390	447	2	.	.	PUNCT
inlawrev-22390	448	1	see	see	VERB
inlawrev-22390	448	2	infra	infra	NOUN
inlawrev-22390	448	3	part	part	NOUN
inlawrev-22390	448	4	v.c	v.c	PROPN
inlawrev-22390	448	5	.	.	PROPN
inlawrev-22390	448	6	168	168	NUM
inlawrev-22390	448	7	.	.	PUNCT
inlawrev-22390	449	1	i	i	PRON
inlawrev-22390	449	2	d.	d.	PROPN
inlawrev-22390	449	3	169	169	NUM
inlawrev-22390	449	4	.	.	PUNCT
inlawrev-22390	450	1	see	see	VERB
inlawrev-22390	450	2	infra	infra	NOUN
inlawrev-22390	450	3	part	part	NOUN
inlawrev-22390	450	4	vi	vi	NOUN
inlawrev-22390	450	5	.	.	PROPN
inlawrev-22390	450	6	170	170	NUM
inlawrev-22390	450	7	.	.	PUNCT
inlawrev-22390	451	1	nat’l	nat’l	PROPN
inlawrev-22390	451	2	small	small	ADJ
inlawrev-22390	451	3	bus	bus	NOUN
inlawrev-22390	451	4	.	.	PUNCT
inlawrev-22390	452	1	ass’n	ass’n	PROPN
inlawrev-22390	452	2	,	,	PUNCT
inlawrev-22390	452	3	2016	2016	NUM
inlawrev-22390	452	4	mid	mid	ADJ
inlawrev-22390	452	5	-	-	ADJ
inlawrev-22390	452	6	year	year	ADJ
inlawrev-22390	452	7	economic	economic	ADJ
inlawrev-22390	452	8	report	report	NOUN
inlawrev-22390	452	9	14	14	NUM
inlawrev-22390	452	10	(	(	PUNCT
inlawrev-22390	452	11	2016	2016	NUM
inlawrev-22390	452	12	)	)	PUNCT
inlawrev-22390	452	13	,	,	PUNCT
inlawrev-22390	452	14	available	available	ADJ
inlawrev-22390	452	15	at	at	ADP
inlawrev-22390	452	16	http://www.nsba.biz/wp-content/uploads/2016/09/mid-year-economic-report-2016.pdf	http://www.nsba.biz/wp-content/uploads/2016/09/mid-year-economic-report-2016.pdf	PROPN
inlawrev-22390	453	1	[	[	X
inlawrev-22390	453	2	https://perma.cc/542x-zzgs	https://perma.cc/542x-zzgs	PROPN
inlawrev-22390	453	3	]	]	X
inlawrev-22390	453	4	.	.	PUNCT
inlawrev-22390	454	1	171	171	NUM
inlawrev-22390	454	2	.	.	PUNCT
inlawrev-22390	455	1	i	i	PRON
inlawrev-22390	455	2	d.	d.	PROPN
inlawrev-22390	455	3	172	172	NUM
inlawrev-22390	455	4	.	.	PUNCT
inlawrev-22390	456	1	i	i	PRON
inlawrev-22390	456	2	d.	d.	PROPN
inlawrev-22390	456	3	at	at	ADP
inlawrev-22390	456	4	6	6	NUM
inlawrev-22390	456	5	.	.	NOUN
inlawrev-22390	456	6	173	173	NUM
inlawrev-22390	456	7	.	.	PUNCT
inlawrev-22390	457	1	i	i	PRON
inlawrev-22390	457	2	d.	d.	PROPN
inlawrev-22390	457	3	at	at	ADP
inlawrev-22390	457	4	9	9	NUM
inlawrev-22390	457	5	.	.	NOUN
inlawrev-22390	457	6	174	174	NUM
inlawrev-22390	457	7	.	.	PUNCT
inlawrev-22390	458	1	i	i	PRON
inlawrev-22390	458	2	d.	d.	PROPN
inlawrev-22390	458	3	175	175	NUM
inlawrev-22390	458	4	.	.	PUNCT
inlawrev-22390	459	1	see	see	VERB
inlawrev-22390	459	2	generally	generally	ADV
inlawrev-22390	459	3	i	i	PRON
inlawrev-22390	459	4	d.	d.	PROPN
inlawrev-22390	459	5	176	176	NUM
inlawrev-22390	459	6	.	.	PUNCT
inlawrev-22390	460	1	i	i	PRON
inlawrev-22390	460	2	d.	d.	PROPN
inlawrev-22390	460	3	at	at	ADP
inlawrev-22390	460	4	3	3	NUM
inlawrev-22390	460	5	.	.	NOUN
inlawrev-22390	460	6	177	177	NUM
inlawrev-22390	460	7	.	.	PUNCT
inlawrev-22390	461	1	harrison	harrison	PROPN
inlawrev-22390	461	2	,	,	PUNCT
inlawrev-22390	461	3	supra	supra	PROPN
inlawrev-22390	461	4	note	note	NOUN
inlawrev-22390	461	5	28	28	NUM
inlawrev-22390	461	6	.	.	NOUN
inlawrev-22390	461	7	178	178	NUM
inlawrev-22390	461	8	.	.	PUNCT
inlawrev-22390	462	1	see	see	VERB
inlawrev-22390	462	2	i	i	PRON
inlawrev-22390	462	3	d.	d.	PROPN
inlawrev-22390	462	4	;	;	PUNCT
inlawrev-22390	462	5	sba	sba	PROPN
inlawrev-22390	462	6	office	office	PROPN
inlawrev-22390	462	7	of	of	ADP
inlawrev-22390	462	8	advocacy	advocacy	NOUN
inlawrev-22390	462	9	,	,	PUNCT
inlawrev-22390	462	10	small	small	ADJ
inlawrev-22390	462	11	business	business	NOUN
inlawrev-22390	462	12	facts	fact	VERB
inlawrev-22390	462	13	:	:	PUNCT
inlawrev-22390	462	14	where	where	SCONJ
inlawrev-22390	462	15	are	be	AUX
inlawrev-22390	462	16	the	the	DET
inlawrev-22390	462	17	jobs	job	NOUN
inlawrev-22390	462	18	created	create	VERB
inlawrev-22390	462	19	?	?	PUNCT
inlawrev-22390	463	1	new	new	ADJ
inlawrev-22390	463	2	or	or	CCONJ
inlawrev-22390	463	3	existing	exist	VERB
inlawrev-22390	463	4	businesses	business	NOUN
inlawrev-22390	463	5	?	?	PUNCT
inlawrev-22390	463	6	,	,	PUNCT
inlawrev-22390	463	7	sba.gov	sba.gov	NUM
inlawrev-22390	463	8	(	(	PUNCT
inlawrev-22390	463	9	may	may	PROPN
inlawrev-22390	463	10	2012	2012	NUM
inlawrev-22390	463	11	)	)	PUNCT
inlawrev-22390	463	12	,	,	PUNCT
inlawrev-22390	463	13	https://www.sba.gov/sites/default/	https://www.sba.gov/sites/default/	PROPN
inlawrev-22390	463	14	294	294	NUM
inlawrev-22390	463	15	indiana	indiana	PROPN
inlawrev-22390	463	16	law	law	PROPN
inlawrev-22390	463	17	review	review	NOUN
inlawrev-22390	464	1	[	[	X
inlawrev-22390	464	2	vol	vol	NOUN
inlawrev-22390	464	3	.	.	PUNCT
inlawrev-22390	465	1	51:277	51:277	NUM
inlawrev-22390	465	2	of	of	ADP
inlawrev-22390	465	3	the	the	DET
inlawrev-22390	465	4	net	net	ADJ
inlawrev-22390	465	5	job	job	NOUN
inlawrev-22390	465	6	growth	growth	NOUN
inlawrev-22390	465	7	each	each	DET
inlawrev-22390	465	8	year.179	year.179	NOUN
inlawrev-22390	465	9	startups	startup	NOUN
inlawrev-22390	465	10	may	may	AUX
inlawrev-22390	465	11	also	also	ADV
inlawrev-22390	465	12	be	be	AUX
inlawrev-22390	465	13	more	more	ADV
inlawrev-22390	465	14	reliable	reliable	ADJ
inlawrev-22390	465	15	job	job	NOUN
inlawrev-22390	465	16	creators	creator	NOUN
inlawrev-22390	465	17	because	because	SCONJ
inlawrev-22390	465	18	hiring	hire	VERB
inlawrev-22390	465	19	among	among	ADP
inlawrev-22390	465	20	new	new	ADJ
inlawrev-22390	465	21	firms	firm	NOUN
inlawrev-22390	465	22	remains	remain	VERB
inlawrev-22390	465	23	fairly	fairly	ADV
inlawrev-22390	465	24	constant	constant	ADJ
inlawrev-22390	465	25	regardless	regardless	ADV
inlawrev-22390	465	26	of	of	ADP
inlawrev-22390	465	27	economic	economic	ADJ
inlawrev-22390	465	28	conditions.180	conditions.180	NOUN
inlawrev-22390	465	29	the	the	DET
inlawrev-22390	465	30	small	small	PROPN
inlawrev-22390	465	31	business	business	PROPN
inlawrev-22390	465	32	administration	administration	PROPN
inlawrev-22390	465	33	(	(	PUNCT
inlawrev-22390	465	34	sba	sba	PROPN
inlawrev-22390	465	35	)	)	PUNCT
inlawrev-22390	465	36	argues	argue	VERB
inlawrev-22390	465	37	that	that	SCONJ
inlawrev-22390	465	38	existing	exist	VERB
inlawrev-22390	465	39	businesses	business	NOUN
inlawrev-22390	465	40	are	be	AUX
inlawrev-22390	465	41	actually	actually	ADV
inlawrev-22390	465	42	better	well	ADJ
inlawrev-22390	465	43	job	job	NOUN
inlawrev-22390	465	44	creators.1	creators.1	NOUN
inlawrev-22390	465	45	8	8	NUM
inlawrev-22390	465	46	1	1	NUM
inlawrev-22390	465	47	part	part	NOUN
inlawrev-22390	465	48	of	of	ADP
inlawrev-22390	465	49	the	the	DET
inlawrev-22390	465	50	problem	problem	NOUN
inlawrev-22390	465	51	in	in	ADP
inlawrev-22390	465	52	the	the	DET
inlawrev-22390	465	53	data	datum	NOUN
inlawrev-22390	465	54	,	,	PUNCT
inlawrev-22390	465	55	the	the	DET
inlawrev-22390	465	56	sba	sba	PROPN
inlawrev-22390	465	57	contends	contend	VERB
inlawrev-22390	465	58	,	,	PUNCT
inlawrev-22390	465	59	is	be	AUX
inlawrev-22390	465	60	that	that	PRON
inlawrev-22390	465	61	startup	startup	NOUN
inlawrev-22390	465	62	jobs	job	NOUN
inlawrev-22390	465	63	are	be	AUX
inlawrev-22390	465	64	more	more	ADV
inlawrev-22390	465	65	volatile	volatile	ADJ
inlawrev-22390	465	66	and	and	CCONJ
inlawrev-22390	465	67	thus	thus	ADV
inlawrev-22390	465	68	need	need	VERB
inlawrev-22390	465	69	to	to	PART
inlawrev-22390	465	70	be	be	AUX
inlawrev-22390	465	71	controlled	control	VERB
inlawrev-22390	465	72	based	base	VERB
inlawrev-22390	465	73	on	on	ADP
inlawrev-22390	465	74	whether	whether	SCONJ
inlawrev-22390	465	75	the	the	DET
inlawrev-22390	465	76	firm	firm	NOUN
inlawrev-22390	465	77	ultimately	ultimately	ADV
inlawrev-22390	465	78	fails	fail	VERB
inlawrev-22390	465	79	or	or	CCONJ
inlawrev-22390	465	80	succeeds.1	succeeds.1	NOUN
inlawrev-22390	465	81	8	8	NUM
inlawrev-22390	465	82	2	2	NUM
inlawrev-22390	465	83	this	this	DET
inlawrev-22390	465	84	argument	argument	NOUN
inlawrev-22390	465	85	hinges	hinge	VERB
inlawrev-22390	465	86	on	on	ADP
inlawrev-22390	465	87	the	the	DET
inlawrev-22390	465	88	fact	fact	NOUN
inlawrev-22390	465	89	that	that	SCONJ
inlawrev-22390	465	90	“	"	PUNCT
inlawrev-22390	465	91	[	[	X
inlawrev-22390	465	92	l]ess	l]ess	NOUN
inlawrev-22390	465	93	than	than	ADP
inlawrev-22390	465	94	half	half	NOUN
inlawrev-22390	465	95	of	of	ADP
inlawrev-22390	465	96	the	the	DET
inlawrev-22390	465	97	jobs	job	NOUN
inlawrev-22390	465	98	created	create	VERB
inlawrev-22390	465	99	by	by	ADP
inlawrev-22390	465	100	startups	startup	NOUN
inlawrev-22390	465	101	exist	exist	VERB
inlawrev-22390	465	102	after	after	ADP
inlawrev-22390	465	103	five	five	NUM
inlawrev-22390	465	104	years	year	NOUN
inlawrev-22390	465	105	.	.	PUNCT
inlawrev-22390	465	106	”183	”183	PUNCT
inlawrev-22390	465	107	when	when	SCONJ
inlawrev-22390	465	108	controlled	control	VERB
inlawrev-22390	465	109	,	,	PUNCT
inlawrev-22390	465	110	existing	exist	VERB
inlawrev-22390	465	111	businesses	business	NOUN
inlawrev-22390	465	112	added	add	VERB
inlawrev-22390	465	113	approximately	approximately	ADV
inlawrev-22390	465	114	60	60	NUM
inlawrev-22390	465	115	%	%	NOUN
inlawrev-22390	465	116	of	of	ADP
inlawrev-22390	465	117	all	all	DET
inlawrev-22390	465	118	new	new	ADJ
inlawrev-22390	465	119	small	small	ADJ
inlawrev-22390	465	120	business	business	NOUN
inlawrev-22390	465	121	jobs	job	NOUN
inlawrev-22390	465	122	whereas	whereas	SCONJ
inlawrev-22390	465	123	startups	startup	NOUN
inlawrev-22390	465	124	created	create	VERB
inlawrev-22390	465	125	about	about	ADV
inlawrev-22390	465	126	40	40	NUM
inlawrev-22390	465	127	%	%	NOUN
inlawrev-22390	465	128	over	over	ADP
inlawrev-22390	465	129	the	the	DET
inlawrev-22390	465	130	past	past	ADJ
inlawrev-22390	465	131	two	two	NUM
inlawrev-22390	465	132	decades.184	decades.184	NOUN
inlawrev-22390	465	133	as	as	SCONJ
inlawrev-22390	465	134	sba	sba	PROPN
inlawrev-22390	465	135	administrator	administrator	NOUN
inlawrev-22390	465	136	karen	karen	PROPN
inlawrev-22390	465	137	mills	mills	PROPN
inlawrev-22390	465	138	wrote	write	VERB
inlawrev-22390	465	139	in	in	ADP
inlawrev-22390	465	140	2013	2013	NUM
inlawrev-22390	465	141	,	,	PUNCT
inlawrev-22390	465	142	“	"	PUNCT
inlawrev-22390	465	143	[	[	X
inlawrev-22390	465	144	w]hile	w]hile	PROPN
inlawrev-22390	465	145	startups	startup	NOUN
inlawrev-22390	465	146	receive	receive	VERB
inlawrev-22390	465	147	a	a	DET
inlawrev-22390	465	148	great	great	ADJ
inlawrev-22390	465	149	deal	deal	NOUN
inlawrev-22390	465	150	of	of	ADP
inlawrev-22390	465	151	attention	attention	NOUN
inlawrev-22390	465	152	,	,	PUNCT
inlawrev-22390	465	153	there	there	PRON
inlawrev-22390	465	154	is	be	VERB
inlawrev-22390	465	155	another	another	DET
inlawrev-22390	465	156	segment	segment	NOUN
inlawrev-22390	465	157	of	of	ADP
inlawrev-22390	465	158	businesses	business	NOUN
inlawrev-22390	465	159	that	that	PRON
inlawrev-22390	465	160	can	can	AUX
inlawrev-22390	465	161	fuel	fuel	VERB
inlawrev-22390	465	162	economic	economic	ADJ
inlawrev-22390	465	163	growth	growth	NOUN
inlawrev-22390	465	164	—	—	PUNCT
inlawrev-22390	465	165	existing	exist	VERB
inlawrev-22390	465	166	establishments	establishment	NOUN
inlawrev-22390	465	167	.	.	PUNCT
inlawrev-22390	465	168	”185	”185	PUNCT
inlawrev-22390	465	169	although	although	SCONJ
inlawrev-22390	465	170	most	most	ADJ
inlawrev-22390	465	171	existing	exist	VERB
inlawrev-22390	465	172	businesses	business	NOUN
inlawrev-22390	465	173	do	do	AUX
inlawrev-22390	465	174	not	not	PART
inlawrev-22390	465	175	expand	expand	VERB
inlawrev-22390	465	176	beyond	beyond	ADP
inlawrev-22390	465	177	a	a	DET
inlawrev-22390	465	178	certain	certain	ADJ
inlawrev-22390	465	179	size	size	NOUN
inlawrev-22390	465	180	,	,	PUNCT
inlawrev-22390	465	181	those	those	PRON
inlawrev-22390	465	182	that	that	PRON
inlawrev-22390	465	183	do	do	VERB
inlawrev-22390	465	184	can	can	AUX
inlawrev-22390	465	185	have	have	VERB
inlawrev-22390	465	186	a	a	DET
inlawrev-22390	465	187	significant	significant	ADJ
inlawrev-22390	465	188	impact.186	impact.186	VERB
inlawrev-22390	465	189	between	between	ADP
inlawrev-22390	465	190	2011	2011	NUM
inlawrev-22390	465	191	and	and	CCONJ
inlawrev-22390	465	192	2012	2012	NUM
inlawrev-22390	465	193	,	,	PUNCT
inlawrev-22390	465	194	for	for	ADP
inlawrev-22390	465	195	example	example	NOUN
inlawrev-22390	465	196	,	,	PUNCT
inlawrev-22390	465	197	existing	exist	VERB
inlawrev-22390	465	198	business	business	NOUN
inlawrev-22390	465	199	growth	growth	NOUN
inlawrev-22390	465	200	added	add	VERB
inlawrev-22390	465	201	8.7	8.7	NUM
inlawrev-22390	465	202	million	million	NUM
inlawrev-22390	465	203	jobs	job	NOUN
inlawrev-22390	465	204	to	to	ADP
inlawrev-22390	465	205	the	the	DET
inlawrev-22390	465	206	economy.187	economy.187	PROPN
inlawrev-22390	465	207	existing	exist	VERB
inlawrev-22390	465	208	business	business	NOUN
inlawrev-22390	465	209	employment	employment	NOUN
inlawrev-22390	465	210	tends	tend	VERB
inlawrev-22390	465	211	to	to	PART
inlawrev-22390	465	212	rise	rise	VERB
inlawrev-22390	465	213	and	and	CCONJ
inlawrev-22390	465	214	fall	fall	VERB
inlawrev-22390	465	215	with	with	ADP
inlawrev-22390	465	216	economic	economic	ADJ
inlawrev-22390	465	217	conditions	condition	NOUN
inlawrev-22390	465	218	more	more	ADV
inlawrev-22390	465	219	so	so	ADV
inlawrev-22390	465	220	than	than	ADP
inlawrev-22390	465	221	startup	startup	ADJ
inlawrev-22390	465	222	hiring	hiring	NOUN
inlawrev-22390	465	223	,	,	PUNCT
inlawrev-22390	465	224	but	but	CCONJ
inlawrev-22390	465	225	existing	exist	VERB
inlawrev-22390	465	226	businesses	business	NOUN
inlawrev-22390	465	227	also	also	ADV
inlawrev-22390	465	228	tend	tend	VERB
inlawrev-22390	465	229	to	to	PART
inlawrev-22390	465	230	rehire	rehire	VERB
inlawrev-22390	465	231	workers	worker	NOUN
inlawrev-22390	465	232	that	that	PRON
inlawrev-22390	465	233	were	be	AUX
inlawrev-22390	465	234	previously	previously	ADV
inlawrev-22390	465	235	laid	lay	VERB
inlawrev-22390	465	236	off	off	ADP
inlawrev-22390	465	237	when	when	SCONJ
inlawrev-22390	465	238	economic	economic	ADJ
inlawrev-22390	465	239	conditions	condition	NOUN
inlawrev-22390	465	240	later	later	ADV
inlawrev-22390	465	241	improve	improve	VERB
inlawrev-22390	465	242	—	—	PUNCT
inlawrev-22390	465	243	something	something	PRON
inlawrev-22390	465	244	that	that	PRON
inlawrev-22390	465	245	a	a	DET
inlawrev-22390	465	246	failed	fail	VERB
inlawrev-22390	465	247	startup	startup	NOUN
inlawrev-22390	465	248	can	can	AUX
inlawrev-22390	465	249	not	not	PART
inlawrev-22390	465	250	do.188	do.188	VERB
inlawrev-22390	465	251	additionally	additionally	ADV
inlawrev-22390	465	252	,	,	PUNCT
inlawrev-22390	465	253	startup	startup	NOUN
inlawrev-22390	465	254	jobs	job	NOUN
inlawrev-22390	465	255	on	on	ADP
inlawrev-22390	465	256	average	average	ADJ
inlawrev-22390	465	257	only	only	ADV
inlawrev-22390	465	258	pay	pay	VERB
inlawrev-22390	465	259	about	about	ADV
inlawrev-22390	465	260	70	70	NUM
inlawrev-22390	465	261	%	%	NOUN
inlawrev-22390	465	262	of	of	ADP
inlawrev-22390	465	263	those	those	PRON
inlawrev-22390	465	264	created	create	VERB
inlawrev-22390	465	265	by	by	ADP
inlawrev-22390	465	266	existing	exist	VERB
inlawrev-22390	465	267	firms.189	firms.189	PROPN
inlawrev-22390	465	268	regardless	regardless	ADV
inlawrev-22390	465	269	,	,	PUNCT
inlawrev-22390	465	270	33	33	NUM
inlawrev-22390	465	271	%	%	NOUN
inlawrev-22390	465	272	of	of	ADP
inlawrev-22390	465	273	all	all	DET
inlawrev-22390	465	274	small	small	ADJ
inlawrev-22390	465	275	businesses	business	NOUN
inlawrev-22390	465	276	expect	expect	VERB
inlawrev-22390	465	277	to	to	PART
inlawrev-22390	465	278	hire	hire	VERB
inlawrev-22390	465	279	more	more	ADJ
inlawrev-22390	465	280	employees	employee	NOUN
inlawrev-22390	465	281	within	within	ADP
inlawrev-22390	465	282	the	the	DET
inlawrev-22390	465	283	next	next	ADJ
inlawrev-22390	465	284	twelve	twelve	NUM
inlawrev-22390	465	285	months	month	NOUN
inlawrev-22390	465	286	compared	compare	VERB
inlawrev-22390	465	287	to	to	ADP
inlawrev-22390	465	288	only	only	ADV
inlawrev-22390	465	289	8	8	NUM
inlawrev-22390	465	290	%	%	NOUN
inlawrev-22390	465	291	that	that	PRON
inlawrev-22390	465	292	expect	expect	VERB
inlawrev-22390	465	293	to	to	PART
inlawrev-22390	465	294	reduce	reduce	VERB
inlawrev-22390	465	295	employment.190	employment.190	NOUN
inlawrev-22390	465	296	additionally	additionally	ADV
inlawrev-22390	465	297	,	,	PUNCT
inlawrev-22390	465	298	51	51	NUM
inlawrev-22390	465	299	%	%	NOUN
inlawrev-22390	465	300	of	of	ADP
inlawrev-22390	465	301	small	small	ADJ
inlawrev-22390	465	302	businesses	business	NOUN
inlawrev-22390	465	303	expect	expect	VERB
inlawrev-22390	465	304	to	to	PART
inlawrev-22390	465	305	increase	increase	VERB
inlawrev-22390	465	306	employee	employee	NOUN
inlawrev-22390	465	307	compensation	compensation	NOUN
inlawrev-22390	465	308	over	over	ADP
inlawrev-22390	465	309	the	the	DET
inlawrev-22390	465	310	next	next	ADJ
inlawrev-22390	465	311	twelve	twelve	NUM
inlawrev-22390	465	312	months.191	months.191	NOUN
inlawrev-22390	465	313	small	small	ADJ
inlawrev-22390	465	314	businesses	business	NOUN
inlawrev-22390	465	315	are	be	AUX
inlawrev-22390	465	316	growing,192	growing,192	PRON
inlawrev-22390	465	317	and	and	CCONJ
inlawrev-22390	465	318	a	a	DET
inlawrev-22390	465	319	less	less	ADV
inlawrev-22390	465	320	burdensome	burdensome	ADJ
inlawrev-22390	465	321	method	method	NOUN
inlawrev-22390	465	322	of	of	ADP
inlawrev-22390	465	323	crowdfunding	crowdfunding	NOUN
inlawrev-22390	465	324	could	could	AUX
inlawrev-22390	465	325	help	help	VERB
inlawrev-22390	465	326	supply	supply	VERB
inlawrev-22390	465	327	files	file	NOUN
inlawrev-22390	465	328	/	/	SYM
inlawrev-22390	465	329	job_creation.pdf	job_creation.pdf	NOUN
inlawrev-22390	465	330	[	[	X
inlawrev-22390	465	331	https://perma.cc/c8mp-h6jl	https://perma.cc/c8mp-h6jl	PROPN
inlawrev-22390	465	332	]	]	X
inlawrev-22390	465	333	.	.	PUNCT
inlawrev-22390	466	1	179	179	NUM
inlawrev-22390	466	2	.	.	PUNCT
inlawrev-22390	467	1	harrison	harrison	PROPN
inlawrev-22390	467	2	,	,	PUNCT
inlawrev-22390	467	3	supra	supra	PROPN
inlawrev-22390	467	4	note	note	NOUN
inlawrev-22390	467	5	28	28	NUM
inlawrev-22390	467	6	.	.	PUNCT
inlawrev-22390	468	1	180	180	NUM
inlawrev-22390	468	2	.	.	PUNCT
inlawrev-22390	469	1	i	i	PRON
inlawrev-22390	469	2	d.	d.	PROPN
inlawrev-22390	469	3	181	181	NUM
inlawrev-22390	469	4	.	.	PUNCT
inlawrev-22390	470	1	sba	sba	PROPN
inlawrev-22390	470	2	office	office	PROPN
inlawrev-22390	470	3	of	of	ADP
inlawrev-22390	470	4	advocacy	advocacy	NOUN
inlawrev-22390	470	5	,	,	PUNCT
inlawrev-22390	470	6	supra	supra	PROPN
inlawrev-22390	470	7	note	note	NOUN
inlawrev-22390	470	8	178	178	NUM
inlawrev-22390	470	9	.	.	PUNCT
inlawrev-22390	470	10	182	182	NUM
inlawrev-22390	470	11	.	.	PUNCT
inlawrev-22390	471	1	i	i	PRON
inlawrev-22390	471	2	d.	d.	PROPN
inlawrev-22390	471	3	183	183	NUM
inlawrev-22390	471	4	.	.	PUNCT
inlawrev-22390	472	1	i	i	PRON
inlawrev-22390	472	2	d.	d.	PROPN
inlawrev-22390	472	3	184	184	NUM
inlawrev-22390	472	4	.	.	PUNCT
inlawrev-22390	473	1	i	i	PRON
inlawrev-22390	473	2	d.	d.	PROPN
inlawrev-22390	473	3	185	185	NUM
inlawrev-22390	473	4	.	.	PUNCT
inlawrev-22390	474	1	karen	karen	PROPN
inlawrev-22390	474	2	mills	mills	PROPN
inlawrev-22390	474	3	,	,	PUNCT
inlawrev-22390	474	4	sba	sba	PROPN
inlawrev-22390	474	5	’s	’s	PART
inlawrev-22390	474	6	karen	karen	PROPN
inlawrev-22390	474	7	mills	mill	NOUN
inlawrev-22390	474	8	:	:	PUNCT
inlawrev-22390	474	9	revving	rev	VERB
inlawrev-22390	474	10	america	america	PROPN
inlawrev-22390	474	11	’s	’s	PART
inlawrev-22390	474	12	jobs	job	NOUN
inlawrev-22390	474	13	engine	engine	NOUN
inlawrev-22390	474	14	with	with	ADP
inlawrev-22390	474	15	the	the	DET
inlawrev-22390	474	16	help	help	NOUN
inlawrev-22390	474	17	of	of	ADP
inlawrev-22390	474	18	existing	exist	VERB
inlawrev-22390	474	19	businesses	business	NOUN
inlawrev-22390	474	20	,	,	PUNCT
inlawrev-22390	474	21	wash	wash	NOUN
inlawrev-22390	474	22	.	.	PUNCT
inlawrev-22390	475	1	post	post	NOUN
inlawrev-22390	475	2	:	:	PUNCT
inlawrev-22390	475	3	on	on	ADP
inlawrev-22390	475	4	small	small	ADJ
inlawrev-22390	475	5	bus	bus	NOUN
inlawrev-22390	475	6	.	.	PUNCT
inlawrev-22390	476	1	(	(	PUNCT
inlawrev-22390	476	2	april	april	PROPN
inlawrev-22390	476	3	22	22	NUM
inlawrev-22390	476	4	,	,	PUNCT
inlawrev-22390	476	5	2013	2013	NUM
inlawrev-22390	476	6	)	)	PUNCT
inlawrev-22390	476	7	,	,	PUNCT
inlawrev-22390	476	8	https://www.washingtonpost.com/	https://www.washingtonpost.com/	NOUN
inlawrev-22390	476	9	business	business	NOUN
inlawrev-22390	476	10	/	/	SYM
inlawrev-22390	476	11	on	on	ADP
inlawrev-22390	476	12	-	-	PUNCT
inlawrev-22390	476	13	small	small	ADJ
inlawrev-22390	476	14	-	-	PUNCT
inlawrev-22390	476	15	business	business	NOUN
inlawrev-22390	476	16	/	/	SYM
inlawrev-22390	476	17	sbas	sbas	PROPN
inlawrev-22390	476	18	-	-	PUNCT
inlawrev-22390	476	19	karen	karen	NOUN
inlawrev-22390	476	20	-	-	PUNCT
inlawrev-22390	476	21	mills	mill	NOUN
inlawrev-22390	476	22	-	-	PUNCT
inlawrev-22390	476	23	revving	rev	VERB
inlawrev-22390	476	24	-	-	PUNCT
inlawrev-22390	476	25	americas	america	NOUN
inlawrev-22390	476	26	-	-	PUNCT
inlawrev-22390	476	27	jobs	job	NOUN
inlawrev-22390	476	28	-	-	PUNCT
inlawrev-22390	476	29	engine	engine	NOUN
inlawrev-22390	476	30	-	-	PUNCT
inlawrev-22390	476	31	with	with	ADP
inlawrev-22390	476	32	-	-	PUNCT
inlawrev-22390	476	33	the	the	DET
inlawrev-22390	476	34	-	-	PUNCT
inlawrev-22390	476	35	help	help	NOUN
inlawrev-22390	476	36	-	-	PUNCT
inlawrev-22390	476	37	ofexisting	ofexisting	NOUN
inlawrev-22390	476	38	-	-	PUNCT
inlawrev-22390	476	39	businesses/2	businesses/2	NOUN
inlawrev-22390	476	40	0	0	NUM
inlawrev-22390	476	41	1	1	NUM
inlawrev-22390	476	42	3	3	NUM
inlawrev-22390	476	43	/0	/0	NOUN
inlawrev-22390	476	44	4	4	NUM
inlawrev-22390	476	45	/2	/2	SYM
inlawrev-22390	476	46	2	2	NUM
inlawrev-22390	476	47	/da7	/da7	SYM
inlawrev-22390	476	48	8	8	NUM
inlawrev-22390	476	49	4	4	NUM
inlawrev-22390	476	50	e1	e1	NOUN
inlawrev-22390	476	51	0	0	NUM
inlawrev-22390	476	52	-a6	-a6	ADP
inlawrev-22390	476	53	9	9	NUM
inlawrev-22390	476	54	1	1	NUM
inlawrev-22390	476	55	-1	-1	SYM
inlawrev-22390	476	56	1	1	NUM
inlawrev-22390	476	57	e2	e2	NOUN
inlawrev-22390	476	58	-8	-8	X
inlawrev-22390	476	59	3	3	NUM
inlawrev-22390	476	60	0	0	NUM
inlawrev-22390	476	61	2	2	NUM
inlawrev-22390	476	62	-3c7e0ea97057_story.html	-3c7e0ea97057_story.html	PUNCT
inlawrev-22390	477	1	[	[	X
inlawrev-22390	477	2	https://perma.cc/s6bh-fq94	https://perma.cc/s6bh-fq94	X
inlawrev-22390	477	3	]	]	X
inlawrev-22390	477	4	.	.	PUNCT
inlawrev-22390	478	1	186	186	NUM
inlawrev-22390	478	2	.	.	PUNCT
inlawrev-22390	479	1	harrison	harrison	PROPN
inlawrev-22390	479	2	,	,	PUNCT
inlawrev-22390	479	3	supra	supra	PROPN
inlawrev-22390	479	4	note	note	NOUN
inlawrev-22390	479	5	28	28	NUM
inlawrev-22390	479	6	.	.	PUNCT
inlawrev-22390	479	7	187	187	NUM
inlawrev-22390	479	8	.	.	PUNCT
inlawrev-22390	480	1	i	i	PRON
inlawrev-22390	480	2	d.	d.	PROPN
inlawrev-22390	480	3	188	188	NUM
inlawrev-22390	480	4	.	.	PUNCT
inlawrev-22390	481	1	i	i	PRON
inlawrev-22390	481	2	d.	d.	PROPN
inlawrev-22390	481	3	189	189	NUM
inlawrev-22390	481	4	.	.	PUNCT
inlawrev-22390	482	1	i	i	PRON
inlawrev-22390	482	2	d.	d.	PROPN
inlawrev-22390	482	3	190	190	NUM
inlawrev-22390	482	4	.	.	PUNCT
inlawrev-22390	482	5	nat’l	nat’l	PROPN
inlawrev-22390	482	6	small	small	ADJ
inlawrev-22390	482	7	bus	bus	NOUN
inlawrev-22390	482	8	.	.	PUNCT
inlawrev-22390	483	1	ass’n	ass’n	PROPN
inlawrev-22390	483	2	,	,	PUNCT
inlawrev-22390	483	3	supra	supra	PROPN
inlawrev-22390	483	4	note	note	NOUN
inlawrev-22390	483	5	170	170	NUM
inlawrev-22390	483	6	,	,	PUNCT
inlawrev-22390	483	7	at	at	ADP
inlawrev-22390	483	8	8	8	NUM
inlawrev-22390	483	9	.	.	NOUN
inlawrev-22390	483	10	191	191	NUM
inlawrev-22390	483	11	.	.	PUNCT
inlawrev-22390	484	1	i	i	PRON
inlawrev-22390	484	2	d.	d.	PROPN
inlawrev-22390	484	3	192	192	NUM
inlawrev-22390	484	4	.	.	PUNCT
inlawrev-22390	485	1	i	i	PRON
inlawrev-22390	485	2	d.	d.	PROPN
inlawrev-22390	485	3	2018	2018	NUM
inlawrev-22390	485	4	]	]	PUNCT
inlawrev-22390	485	5	false	false	ADJ
inlawrev-22390	485	6	start	start	NOUN
inlawrev-22390	485	7	:	:	PUNCT
inlawrev-22390	485	8	carving	carve	VERB
inlawrev-22390	485	9	a	a	DET
inlawrev-22390	485	10	niche	niche	NOUN
inlawrev-22390	485	11	295	295	NUM
inlawrev-22390	485	12	capital	capital	NOUN
inlawrev-22390	485	13	to	to	PART
inlawrev-22390	485	14	fuel	fuel	VERB
inlawrev-22390	485	15	this	this	DET
inlawrev-22390	485	16	growth	growth	NOUN
inlawrev-22390	485	17	.	.	PUNCT
inlawrev-22390	486	1	b.	b.	PROPN
inlawrev-22390	486	2	problems	problem	NOUN
inlawrev-22390	486	3	with	with	ADP
inlawrev-22390	486	4	traditional	traditional	ADJ
inlawrev-22390	486	5	lending	lending	NOUN
inlawrev-22390	486	6	equity	equity	NOUN
inlawrev-22390	486	7	or	or	CCONJ
inlawrev-22390	486	8	debt	debt	NOUN
inlawrev-22390	486	9	-	-	PUNCT
inlawrev-22390	486	10	based	base	VERB
inlawrev-22390	486	11	crowdfunding	crowdfunding	NOUN
inlawrev-22390	486	12	could	could	AUX
inlawrev-22390	486	13	be	be	AUX
inlawrev-22390	486	14	extremely	extremely	ADV
inlawrev-22390	486	15	helpful	helpful	ADJ
inlawrev-22390	486	16	to	to	ADP
inlawrev-22390	486	17	seasoned	season	VERB
inlawrev-22390	486	18	businesses	business	NOUN
inlawrev-22390	486	19	because	because	SCONJ
inlawrev-22390	486	20	small	small	ADJ
inlawrev-22390	486	21	business	business	NOUN
inlawrev-22390	486	22	loans	loan	NOUN
inlawrev-22390	486	23	originated	originate	VERB
inlawrev-22390	486	24	by	by	ADP
inlawrev-22390	486	25	banks	bank	NOUN
inlawrev-22390	486	26	are	be	AUX
inlawrev-22390	486	27	still	still	ADV
inlawrev-22390	486	28	not	not	PART
inlawrev-22390	486	29	as	as	ADV
inlawrev-22390	486	30	available	available	ADJ
inlawrev-22390	486	31	as	as	SCONJ
inlawrev-22390	486	32	they	they	PRON
inlawrev-22390	486	33	were	be	AUX
inlawrev-22390	486	34	prior	prior	ADV
inlawrev-22390	486	35	to	to	ADP
inlawrev-22390	486	36	the	the	DET
inlawrev-22390	486	37	great	great	ADJ
inlawrev-22390	486	38	recession	recession	NOUN
inlawrev-22390	486	39	;	;	PUNCT
inlawrev-22390	486	40	lending	lending	NOUN
inlawrev-22390	486	41	fell	fall	VERB
inlawrev-22390	486	42	by	by	ADP
inlawrev-22390	486	43	more	more	ADJ
inlawrev-22390	486	44	than	than	ADP
inlawrev-22390	486	45	$	$	SYM
inlawrev-22390	486	46	100	100	NUM
inlawrev-22390	486	47	billion	billion	NUM
inlawrev-22390	486	48	from	from	ADP
inlawrev-22390	486	49	2008	2008	NUM
inlawrev-22390	486	50	to	to	ADP
inlawrev-22390	486	51	2011.193	2011.193	NUM
inlawrev-22390	486	52	small	small	ADJ
inlawrev-22390	486	53	businesses	business	NOUN
inlawrev-22390	486	54	were	be	AUX
inlawrev-22390	486	55	especially	especially	ADV
inlawrev-22390	486	56	hard	hard	ADV
inlawrev-22390	486	57	hit	hit	VERB
inlawrev-22390	486	58	as	as	SCONJ
inlawrev-22390	486	59	lending	lending	NOUN
inlawrev-22390	486	60	standards	standard	NOUN
inlawrev-22390	486	61	kept	keep	VERB
inlawrev-22390	486	62	tightening	tighten	VERB
inlawrev-22390	486	63	for	for	ADP
inlawrev-22390	486	64	small	small	ADJ
inlawrev-22390	486	65	businesses	business	NOUN
inlawrev-22390	486	66	even	even	ADV
inlawrev-22390	486	67	as	as	SCONJ
inlawrev-22390	486	68	they	they	PRON
inlawrev-22390	486	69	loosened	loosen	VERB
inlawrev-22390	486	70	for	for	ADP
inlawrev-22390	486	71	large	large	ADJ
inlawrev-22390	486	72	companies.194	companies.194	NOUN
inlawrev-22390	486	73	even	even	ADV
inlawrev-22390	486	74	when	when	SCONJ
inlawrev-22390	486	75	loans	loan	NOUN
inlawrev-22390	486	76	are	be	AUX
inlawrev-22390	486	77	available	available	ADJ
inlawrev-22390	486	78	,	,	PUNCT
inlawrev-22390	486	79	many	many	ADJ
inlawrev-22390	486	80	small	small	ADJ
inlawrev-22390	486	81	companies	company	NOUN
inlawrev-22390	486	82	can	can	AUX
inlawrev-22390	486	83	not	not	PART
inlawrev-22390	486	84	obtain	obtain	VERB
inlawrev-22390	486	85	them	they	PRON
inlawrev-22390	486	86	for	for	ADP
inlawrev-22390	486	87	several	several	ADJ
inlawrev-22390	486	88	reasons	reason	NOUN
inlawrev-22390	486	89	.	.	PUNCT
inlawrev-22390	487	1	first	first	ADV
inlawrev-22390	487	2	,	,	PUNCT
inlawrev-22390	487	3	in	in	ADP
inlawrev-22390	487	4	2013	2013	NUM
inlawrev-22390	487	5	,	,	PUNCT
inlawrev-22390	487	6	90	90	NUM
inlawrev-22390	487	7	%	%	NOUN
inlawrev-22390	487	8	of	of	ADP
inlawrev-22390	487	9	small	small	ADJ
inlawrev-22390	487	10	business	business	NOUN
inlawrev-22390	487	11	loans	loan	NOUN
inlawrev-22390	487	12	were	be	AUX
inlawrev-22390	487	13	collateralized.195	collateralized.195	ADJ
inlawrev-22390	487	14	small	small	ADJ
inlawrev-22390	487	15	business	business	NOUN
inlawrev-22390	487	16	owners	owner	NOUN
inlawrev-22390	487	17	may	may	AUX
inlawrev-22390	487	18	be	be	AUX
inlawrev-22390	487	19	struggling	struggle	VERB
inlawrev-22390	487	20	to	to	PART
inlawrev-22390	487	21	meet	meet	VERB
inlawrev-22390	487	22	collateral	collateral	ADJ
inlawrev-22390	487	23	requirements	requirement	NOUN
inlawrev-22390	487	24	—	—	PUNCT
inlawrev-22390	487	25	about	about	ADV
inlawrev-22390	487	26	25	25	NUM
inlawrev-22390	487	27	%	%	NOUN
inlawrev-22390	487	28	used	use	VERB
inlawrev-22390	487	29	home	home	NOUN
inlawrev-22390	487	30	equity	equity	NOUN
inlawrev-22390	487	31	as	as	ADP
inlawrev-22390	487	32	collateral.196	collateral.196	PROPN
inlawrev-22390	487	33	second	second	ADJ
inlawrev-22390	487	34	,	,	PUNCT
inlawrev-22390	487	35	banks	bank	NOUN
inlawrev-22390	487	36	typically	typically	ADV
inlawrev-22390	487	37	examine	examine	VERB
inlawrev-22390	487	38	the	the	DET
inlawrev-22390	487	39	credit	credit	NOUN
inlawrev-22390	487	40	history	history	NOUN
inlawrev-22390	487	41	of	of	ADP
inlawrev-22390	487	42	both	both	CCONJ
inlawrev-22390	487	43	the	the	DET
inlawrev-22390	487	44	business	business	NOUN
inlawrev-22390	487	45	itself	itself	PRON
inlawrev-22390	487	46	as	as	ADV
inlawrev-22390	487	47	well	well	ADV
inlawrev-22390	487	48	as	as	ADP
inlawrev-22390	487	49	the	the	DET
inlawrev-22390	487	50	principal	principal	NOUN
inlawrev-22390	487	51	within	within	ADP
inlawrev-22390	487	52	the	the	DET
inlawrev-22390	487	53	company	company	NOUN
inlawrev-22390	487	54	applying	apply	VERB
inlawrev-22390	487	55	for	for	ADP
inlawrev-22390	487	56	the	the	DET
inlawrev-22390	487	57	loan.197	loan.197	NOUN
inlawrev-22390	487	58	a	a	DET
inlawrev-22390	487	59	principal	principal	NOUN
inlawrev-22390	487	60	may	may	AUX
inlawrev-22390	487	61	have	have	VERB
inlawrev-22390	487	62	issues	issue	NOUN
inlawrev-22390	487	63	with	with	ADP
inlawrev-22390	487	64	personal	personal	ADJ
inlawrev-22390	487	65	credit	credit	NOUN
inlawrev-22390	487	66	history	history	NOUN
inlawrev-22390	487	67	or	or	CCONJ
inlawrev-22390	487	68	issues	issue	NOUN
inlawrev-22390	487	69	that	that	PRON
inlawrev-22390	487	70	otherwise	otherwise	ADV
inlawrev-22390	487	71	preclude	preclude	VERB
inlawrev-22390	487	72	personally	personally	ADV
inlawrev-22390	487	73	guaranteeing	guarantee	VERB
inlawrev-22390	487	74	the	the	DET
inlawrev-22390	487	75	loan	loan	NOUN
inlawrev-22390	487	76	,	,	PUNCT
inlawrev-22390	487	77	a	a	DET
inlawrev-22390	487	78	condition	condition	NOUN
inlawrev-22390	487	79	for	for	ADP
inlawrev-22390	487	80	most	most	ADJ
inlawrev-22390	487	81	small	small	ADJ
inlawrev-22390	487	82	business	business	NOUN
inlawrev-22390	487	83	loans.198	loans.198	VERB
inlawrev-22390	487	84	finally	finally	ADV
inlawrev-22390	487	85	,	,	PUNCT
inlawrev-22390	487	86	even	even	ADV
inlawrev-22390	487	87	if	if	SCONJ
inlawrev-22390	487	88	a	a	DET
inlawrev-22390	487	89	business	business	NOUN
inlawrev-22390	487	90	can	can	AUX
inlawrev-22390	487	91	meet	meet	VERB
inlawrev-22390	487	92	credit	credit	NOUN
inlawrev-22390	487	93	,	,	PUNCT
inlawrev-22390	487	94	collateral	collateral	NOUN
inlawrev-22390	487	95	,	,	PUNCT
inlawrev-22390	487	96	and	and	CCONJ
inlawrev-22390	487	97	other	other	ADJ
inlawrev-22390	487	98	requirements	requirement	NOUN
inlawrev-22390	487	99	,	,	PUNCT
inlawrev-22390	487	100	otherwise	otherwise	ADV
inlawrev-22390	487	101	worthy	worthy	ADJ
inlawrev-22390	487	102	borrowers	borrower	NOUN
inlawrev-22390	487	103	may	may	AUX
inlawrev-22390	487	104	be	be	AUX
inlawrev-22390	487	105	denied	deny	VERB
inlawrev-22390	487	106	because	because	SCONJ
inlawrev-22390	487	107	the	the	DET
inlawrev-22390	487	108	loan	loan	NOUN
inlawrev-22390	487	109	they	they	PRON
inlawrev-22390	487	110	need	need	VERB
inlawrev-22390	487	111	is	be	AUX
inlawrev-22390	487	112	simply	simply	ADV
inlawrev-22390	487	113	too	too	ADV
inlawrev-22390	487	114	small	small	ADJ
inlawrev-22390	487	115	for	for	SCONJ
inlawrev-22390	487	116	the	the	DET
inlawrev-22390	487	117	bank	bank	NOUN
inlawrev-22390	487	118	to	to	PART
inlawrev-22390	487	119	consider.199	consider.199	VERB
inlawrev-22390	487	120	consequently	consequently	ADV
inlawrev-22390	487	121	,	,	PUNCT
inlawrev-22390	487	122	alternative	alternative	ADJ
inlawrev-22390	487	123	lenders	lender	NOUN
inlawrev-22390	487	124	have	have	AUX
inlawrev-22390	487	125	emerged	emerge	VERB
inlawrev-22390	487	126	following	follow	VERB
inlawrev-22390	487	127	the	the	DET
inlawrev-22390	487	128	dearth	dearth	NOUN
inlawrev-22390	487	129	in	in	ADP
inlawrev-22390	487	130	small	small	ADJ
inlawrev-22390	487	131	business	business	NOUN
inlawrev-22390	487	132	lending.200	lending.200	NOUN
inlawrev-22390	487	133	it	it	PRON
inlawrev-22390	487	134	is	be	AUX
inlawrev-22390	487	135	possible	possible	ADJ
inlawrev-22390	487	136	for	for	SCONJ
inlawrev-22390	487	137	a	a	DET
inlawrev-22390	487	138	small	small	ADJ
inlawrev-22390	487	139	business	business	NOUN
inlawrev-22390	487	140	owner	owner	NOUN
inlawrev-22390	487	141	to	to	PART
inlawrev-22390	487	142	now	now	ADV
inlawrev-22390	487	143	apply	apply	VERB
inlawrev-22390	487	144	for	for	ADP
inlawrev-22390	487	145	loans	loan	NOUN
inlawrev-22390	487	146	online	online	ADV
inlawrev-22390	487	147	and	and	CCONJ
inlawrev-22390	487	148	have	have	VERB
inlawrev-22390	487	149	access	access	NOUN
inlawrev-22390	487	150	to	to	ADP
inlawrev-22390	487	151	capital	capital	NOUN
inlawrev-22390	487	152	within	within	ADP
inlawrev-22390	487	153	minutes	minute	NOUN
inlawrev-22390	487	154	—	—	PUNCT
inlawrev-22390	487	155	albeit	albeit	SCONJ
inlawrev-22390	487	156	for	for	ADP
inlawrev-22390	487	157	a	a	DET
inlawrev-22390	487	158	price.201	price.201	NOUN
inlawrev-22390	487	159	interest	interest	NOUN
inlawrev-22390	487	160	rates	rate	NOUN
inlawrev-22390	487	161	on	on	ADP
inlawrev-22390	487	162	these	these	DET
inlawrev-22390	487	163	loans	loan	NOUN
inlawrev-22390	487	164	can	can	AUX
inlawrev-22390	487	165	be	be	AUX
inlawrev-22390	487	166	considerably	considerably	ADV
inlawrev-22390	487	167	higher	high	ADJ
inlawrev-22390	487	168	with	with	ADP
inlawrev-22390	487	169	less	less	ADV
inlawrev-22390	487	170	favorable	favorable	ADJ
inlawrev-22390	487	171	payment	payment	NOUN
inlawrev-22390	487	172	plans	plan	NOUN
inlawrev-22390	487	173	than	than	SCONJ
inlawrev-22390	487	174	bank	bank	NOUN
inlawrev-22390	487	175	originated	originate	VERB
inlawrev-22390	487	176	loans.202	loans.202	PROPN
inlawrev-22390	487	177	for	for	ADP
inlawrev-22390	487	178	example	example	NOUN
inlawrev-22390	487	179	,	,	PUNCT
inlawrev-22390	487	180	one	one	NUM
inlawrev-22390	487	181	such	such	ADJ
inlawrev-22390	487	182	lender	lender	NOUN
inlawrev-22390	487	183	,	,	PUNCT
inlawrev-22390	487	184	lending	lending	NOUN
inlawrev-22390	487	185	club	club	NOUN
inlawrev-22390	487	186	,	,	PUNCT
inlawrev-22390	487	187	has	have	VERB
inlawrev-22390	487	188	interest	interest	NOUN
inlawrev-22390	487	189	rates	rate	NOUN
inlawrev-22390	487	190	available	available	ADJ
inlawrev-22390	487	191	as	as	ADV
inlawrev-22390	487	192	low	low	ADJ
inlawrev-22390	487	193	as	as	ADP
inlawrev-22390	487	194	8	8	NUM
inlawrev-22390	487	195	%	%	NOUN
inlawrev-22390	487	196	,	,	PUNCT
inlawrev-22390	487	197	which	which	PRON
inlawrev-22390	487	198	may	may	AUX
inlawrev-22390	487	199	be	be	AUX
inlawrev-22390	487	200	competitive	competitive	ADJ
inlawrev-22390	487	201	with	with	ADP
inlawrev-22390	487	202	traditional	traditional	ADJ
inlawrev-22390	487	203	lenders	lender	NOUN
inlawrev-22390	487	204	,	,	PUNCT
inlawrev-22390	487	205	but	but	CCONJ
inlawrev-22390	487	206	it	it	PRON
inlawrev-22390	487	207	may	may	AUX
inlawrev-22390	487	208	also	also	ADV
inlawrev-22390	487	209	charge	charge	VERB
inlawrev-22390	487	210	small	small	ADJ
inlawrev-22390	487	211	businesses	business	NOUN
inlawrev-22390	487	212	an	an	DET
inlawrev-22390	487	213	193	193	NUM
inlawrev-22390	487	214	.	.	PUNCT
inlawrev-22390	488	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	488	2	,	,	PUNCT
inlawrev-22390	488	3	80	80	NUM
inlawrev-22390	488	4	fed	feed	VERB
inlawrev-22390	488	5	.	.	PUNCT
inlawrev-22390	489	1	reg	reg	PROPN
inlawrev-22390	489	2	.	.	PUNCT
inlawrev-22390	490	1	71,388	71,388	NUM
inlawrev-22390	490	2	,	,	PUNCT
inlawrev-22390	490	3	71,485	71,485	NUM
inlawrev-22390	490	4	(	(	PUNCT
inlawrev-22390	490	5	nov	nov	PROPN
inlawrev-22390	490	6	.	.	PROPN
inlawrev-22390	490	7	16	16	NUM
inlawrev-22390	490	8	,	,	PUNCT
inlawrev-22390	490	9	2015	2015	NUM
inlawrev-22390	490	10	)	)	PUNCT
inlawrev-22390	490	11	.	.	PUNCT
inlawrev-22390	491	1	194	194	NUM
inlawrev-22390	491	2	.	.	PUNCT
inlawrev-22390	492	1	ann	ann	PROPN
inlawrev-22390	492	2	marie	marie	PROPN
inlawrev-22390	492	3	wiersch	wiersch	PROPN
inlawrev-22390	492	4	&	&	CCONJ
inlawrev-22390	492	5	scott	scott	PROPN
inlawrev-22390	492	6	shane	shane	PROPN
inlawrev-22390	492	7	,	,	PUNCT
inlawrev-22390	492	8	why	why	SCONJ
inlawrev-22390	492	9	small	small	ADJ
inlawrev-22390	492	10	business	business	NOUN
inlawrev-22390	492	11	lending	lending	NOUN
inlawrev-22390	492	12	is	be	AUX
inlawrev-22390	492	13	n’t	not	PART
inlawrev-22390	492	14	what	what	PRON
inlawrev-22390	492	15	it	it	PRON
inlawrev-22390	492	16	used	use	VERB
inlawrev-22390	492	17	to	to	PART
inlawrev-22390	492	18	be	be	AUX
inlawrev-22390	492	19	,	,	PUNCT
inlawrev-22390	492	20	fed	fed	PROPN
inlawrev-22390	492	21	.	.	PUNCT
inlawrev-22390	493	1	res	res	PROPN
inlawrev-22390	493	2	.	.	PUNCT
inlawrev-22390	493	3	bank	bank	PROPN
inlawrev-22390	493	4	of	of	ADP
inlawrev-22390	493	5	clev	clev	NOUN
inlawrev-22390	493	6	.	.	PUNCT
inlawrev-22390	494	1	(	(	PUNCT
inlawrev-22390	494	2	aug	aug	PROPN
inlawrev-22390	494	3	.	.	PROPN
inlawrev-22390	494	4	14	14	NUM
inlawrev-22390	494	5	,	,	PUNCT
inlawrev-22390	494	6	2013	2013	NUM
inlawrev-22390	494	7	)	)	PUNCT
inlawrev-22390	494	8	,	,	PUNCT
inlawrev-22390	494	9	https://clevelandfed.org/newsroom-andevents/publications/economic-commentary/2013-economic-commentaries/ec-201310-why-smallbusiness-lending-isnt-what-it-used-to-be.aspx	https://clevelandfed.org/newsroom-andevents/publications/economic-commentary/2013-economic-commentaries/ec-201310-why-smallbusiness-lending-isnt-what-it-used-to-be.aspx	NOUN
inlawrev-22390	494	10	[	[	X
inlawrev-22390	494	11	https://perma.cc/2huc-gwzr	https://perma.cc/2huc-gwzr	X
inlawrev-22390	494	12	]	]	SYM
inlawrev-22390	494	13	.	.	PUNCT
inlawrev-22390	495	1	195	195	NUM
inlawrev-22390	495	2	.	.	PUNCT
inlawrev-22390	496	1	i	i	PRON
inlawrev-22390	496	2	d.	d.	PROPN
inlawrev-22390	496	3	196	196	NUM
inlawrev-22390	496	4	.	.	PUNCT
inlawrev-22390	497	1	i	i	PRON
inlawrev-22390	497	2	d.	d.	PROPN
inlawrev-22390	497	3	197	197	NUM
inlawrev-22390	497	4	.	.	PUNCT
inlawrev-22390	498	1	natale	natale	ADJ
inlawrev-22390	498	2	goriel	goriel	NOUN
inlawrev-22390	498	3	,	,	PUNCT
inlawrev-22390	498	4	6	6	NUM
inlawrev-22390	498	5	step	step	NOUN
inlawrev-22390	498	6	guide	guide	NOUN
inlawrev-22390	498	7	–	–	PUNCT
inlawrev-22390	498	8	how	how	SCONJ
inlawrev-22390	498	9	to	to	PART
inlawrev-22390	498	10	get	get	VERB
inlawrev-22390	498	11	a	a	DET
inlawrev-22390	498	12	business	business	NOUN
inlawrev-22390	498	13	loan	loan	NOUN
inlawrev-22390	498	14	,	,	PUNCT
inlawrev-22390	498	15	sba.gov	sba.gov	ADJ
inlawrev-22390	498	16	blogs	blog	NOUN
inlawrev-22390	498	17	-	-	PUNCT
inlawrev-22390	498	18	fin	fin	NOUN
inlawrev-22390	498	19	.	.	PUNCT
inlawrev-22390	499	1	(	(	PUNCT
inlawrev-22390	499	2	sept	sept	PROPN
inlawrev-22390	499	3	.	.	PROPN
inlawrev-22390	499	4	4	4	NUM
inlawrev-22390	499	5	,	,	PUNCT
inlawrev-22390	499	6	2013	2013	NUM
inlawrev-22390	499	7	)	)	PUNCT
inlawrev-22390	499	8	,	,	PUNCT
inlawrev-22390	499	9	https://www.sba.gov/blogs/6-step-guide-how-get-business-loan	https://www.sba.gov/blogs/6-step-guide-how-get-business-loan	PROPN
inlawrev-22390	500	1	[	[	X
inlawrev-22390	500	2	https://perma.cc/7vx3lk9	https://perma.cc/7vx3lk9	X
inlawrev-22390	500	3	t	t	X
inlawrev-22390	500	4	]	]	PUNCT
inlawrev-22390	500	5	.	.	PUNCT
inlawrev-22390	501	1	198	198	NUM
inlawrev-22390	501	2	.	.	PUNCT
inlawrev-22390	502	1	i	i	PRON
inlawrev-22390	502	2	d.	d.	PROPN
inlawrev-22390	502	3	199	199	NUM
inlawrev-22390	502	4	.	.	PUNCT
inlawrev-22390	503	1	i	i	PRON
inlawrev-22390	503	2	d.	d.	PROPN
inlawrev-22390	503	3	200	200	NUM
inlawrev-22390	503	4	.	.	PUNCT
inlawrev-22390	504	1	julapa	julapa	PROPN
inlawrev-22390	504	2	jagtiani	jagtiani	PROPN
inlawrev-22390	504	3	&	&	CCONJ
inlawrev-22390	504	4	catharine	catharine	PROPN
inlawrev-22390	504	5	lemieux	lemieux	PROPN
inlawrev-22390	504	6	,	,	PUNCT
inlawrev-22390	504	7	small	small	ADJ
inlawrev-22390	504	8	business	business	NOUN
inlawrev-22390	504	9	lending	lending	NOUN
inlawrev-22390	504	10	after	after	ADP
inlawrev-22390	504	11	the	the	DET
inlawrev-22390	504	12	financial	financial	ADJ
inlawrev-22390	504	13	crisis	crisis	NOUN
inlawrev-22390	504	14	:	:	PUNCT
inlawrev-22390	504	15	a	a	DET
inlawrev-22390	504	16	new	new	ADJ
inlawrev-22390	504	17	competitive	competitive	ADJ
inlawrev-22390	504	18	landscape	landscape	NOUN
inlawrev-22390	504	19	for	for	ADP
inlawrev-22390	504	20	community	community	NOUN
inlawrev-22390	504	21	banks	bank	NOUN
inlawrev-22390	504	22	,	,	PUNCT
inlawrev-22390	504	23	40	40	NUM
inlawrev-22390	504	24	econ	econ	NOUN
inlawrev-22390	504	25	.	.	PUNCT
inlawrev-22390	505	1	persp	persp	PROPN
inlawrev-22390	505	2	.	.	PUNCT
inlawrev-22390	506	1	(	(	PUNCT
inlawrev-22390	506	2	fed	fed	PROPN
inlawrev-22390	506	3	.	.	PUNCT
inlawrev-22390	507	1	res	res	PROPN
inlawrev-22390	507	2	.	.	PUNCT
inlawrev-22390	508	1	bank	bank	PROPN
inlawrev-22390	508	2	chi	chi	PROPN
inlawrev-22390	508	3	.	.	PUNCT
inlawrev-22390	508	4	)	)	PUNCT
inlawrev-22390	508	5	,	,	PUNCT
inlawrev-22390	508	6	no	no	INTJ
inlawrev-22390	508	7	.	.	NOUN
inlawrev-22390	508	8	3	3	NUM
inlawrev-22390	508	9	,	,	PUNCT
inlawrev-22390	508	10	2016	2016	NUM
inlawrev-22390	508	11	,	,	PUNCT
inlawrev-22390	508	12	at	at	ADP
inlawrev-22390	508	13	11	11	NUM
inlawrev-22390	508	14	-	-	SYM
inlawrev-22390	508	15	13	13	NUM
inlawrev-22390	508	16	.	.	PUNCT
inlawrev-22390	509	1	201	201	NUM
inlawrev-22390	509	2	.	.	PUNCT
inlawrev-22390	510	1	i	i	PRON
inlawrev-22390	510	2	d.	d.	PROPN
inlawrev-22390	510	3	at	at	ADP
inlawrev-22390	510	4	13	13	NUM
inlawrev-22390	510	5	-	-	SYM
inlawrev-22390	510	6	14	14	NUM
inlawrev-22390	510	7	.	.	PUNCT
inlawrev-22390	511	1	202	202	NUM
inlawrev-22390	511	2	.	.	PUNCT
inlawrev-22390	512	1	i	i	PRON
inlawrev-22390	512	2	d.	d.	PROPN
inlawrev-22390	512	3	at	at	ADP
inlawrev-22390	512	4	14	14	NUM
inlawrev-22390	512	5	.	.	PUNCT
inlawrev-22390	513	1	296	296	NUM
inlawrev-22390	513	2	indiana	indiana	PROPN
inlawrev-22390	513	3	law	law	PROPN
inlawrev-22390	513	4	review	review	NOUN
inlawrev-22390	513	5	[	[	X
inlawrev-22390	513	6	vol	vol	NOUN
inlawrev-22390	513	7	.	.	PUNCT
inlawrev-22390	514	1	51:277	51:277	NUM
inlawrev-22390	514	2	annualized	annualize	VERB
inlawrev-22390	514	3	percentage	percentage	NOUN
inlawrev-22390	514	4	rate	rate	NOUN
inlawrev-22390	514	5	as	as	ADV
inlawrev-22390	514	6	high	high	ADJ
inlawrev-22390	514	7	as	as	SCONJ
inlawrev-22390	514	8	32%.203	32%.203	NUM
inlawrev-22390	514	9	the	the	DET
inlawrev-22390	514	10	sba	sba	NOUN
inlawrev-22390	514	11	also	also	ADV
inlawrev-22390	514	12	has	have	VERB
inlawrev-22390	514	13	a	a	DET
inlawrev-22390	514	14	variety	variety	NOUN
inlawrev-22390	514	15	of	of	ADP
inlawrev-22390	514	16	loan	loan	NOUN
inlawrev-22390	514	17	programs	program	NOUN
inlawrev-22390	514	18	that	that	PRON
inlawrev-22390	514	19	meet	meet	VERB
inlawrev-22390	514	20	the	the	DET
inlawrev-22390	514	21	needs	need	NOUN
inlawrev-22390	514	22	of	of	ADP
inlawrev-22390	514	23	many	many	ADJ
inlawrev-22390	514	24	borrowers	borrower	NOUN
inlawrev-22390	514	25	,	,	PUNCT
inlawrev-22390	514	26	but	but	CCONJ
inlawrev-22390	514	27	they	they	PRON
inlawrev-22390	514	28	are	be	AUX
inlawrev-22390	514	29	not	not	PART
inlawrev-22390	514	30	always	always	ADV
inlawrev-22390	514	31	a	a	DET
inlawrev-22390	514	32	perfect	perfect	ADJ
inlawrev-22390	514	33	fit.204	fit.204	NOUN
inlawrev-22390	514	34	the	the	DET
inlawrev-22390	514	35	sba	sba	PROPN
inlawrev-22390	514	36	does	do	AUX
inlawrev-22390	514	37	not	not	PART
inlawrev-22390	514	38	issue	issue	VERB
inlawrev-22390	514	39	loans	loan	NOUN
inlawrev-22390	514	40	,	,	PUNCT
inlawrev-22390	514	41	but	but	CCONJ
inlawrev-22390	514	42	it	it	PRON
inlawrev-22390	514	43	guarantees	guarantee	VERB
inlawrev-22390	514	44	the	the	DET
inlawrev-22390	514	45	loans	loan	NOUN
inlawrev-22390	514	46	of	of	ADP
inlawrev-22390	514	47	another	another	DET
inlawrev-22390	514	48	lender	lender	NOUN
inlawrev-22390	514	49	under	under	ADP
inlawrev-22390	514	50	specific	specific	ADJ
inlawrev-22390	514	51	government	government	NOUN
inlawrev-22390	514	52	programs.205	programs.205	PROPN
inlawrev-22390	514	53	typical	typical	ADJ
inlawrev-22390	514	54	sba	sba	PROPN
inlawrev-22390	514	55	advantage	advantage	NOUN
inlawrev-22390	514	56	loans	loan	NOUN
inlawrev-22390	514	57	,	,	PUNCT
inlawrev-22390	514	58	for	for	ADP
inlawrev-22390	514	59	example	example	NOUN
inlawrev-22390	514	60	,	,	PUNCT
inlawrev-22390	514	61	can	can	AUX
inlawrev-22390	514	62	be	be	AUX
inlawrev-22390	514	63	used	use	VERB
inlawrev-22390	514	64	for	for	ADP
inlawrev-22390	514	65	working	work	VERB
inlawrev-22390	514	66	capital	capital	NOUN
inlawrev-22390	514	67	and	and	CCONJ
inlawrev-22390	514	68	equipment	equipment	NOUN
inlawrev-22390	514	69	purchases.206	purchases.206	NOUN
inlawrev-22390	514	70	to	to	PART
inlawrev-22390	514	71	be	be	AUX
inlawrev-22390	514	72	eligible	eligible	ADJ
inlawrev-22390	514	73	,	,	PUNCT
inlawrev-22390	514	74	business	business	NOUN
inlawrev-22390	514	75	owners	owner	NOUN
inlawrev-22390	514	76	with	with	ADP
inlawrev-22390	514	77	at	at	ADV
inlawrev-22390	514	78	least	least	ADJ
inlawrev-22390	514	79	a	a	DET
inlawrev-22390	514	80	20	20	NUM
inlawrev-22390	514	81	%	%	NOUN
inlawrev-22390	514	82	stake	stake	NOUN
inlawrev-22390	514	83	in	in	ADP
inlawrev-22390	514	84	the	the	DET
inlawrev-22390	514	85	company	company	NOUN
inlawrev-22390	514	86	can	can	AUX
inlawrev-22390	514	87	not	not	PART
inlawrev-22390	514	88	have	have	AUX
inlawrev-22390	514	89	been	be	AUX
inlawrev-22390	514	90	previously	previously	ADV
inlawrev-22390	514	91	indicted	indict	VERB
inlawrev-22390	514	92	for	for	ADP
inlawrev-22390	514	93	a	a	DET
inlawrev-22390	514	94	felony	felony	NOUN
inlawrev-22390	514	95	or	or	CCONJ
inlawrev-22390	514	96	have	have	AUX
inlawrev-22390	514	97	caused	cause	VERB
inlawrev-22390	514	98	the	the	DET
inlawrev-22390	514	99	government	government	NOUN
inlawrev-22390	514	100	to	to	PART
inlawrev-22390	514	101	lose	lose	VERB
inlawrev-22390	514	102	money	money	NOUN
inlawrev-22390	514	103	on	on	ADP
inlawrev-22390	514	104	a	a	DET
inlawrev-22390	514	105	previous	previous	ADJ
inlawrev-22390	514	106	business	business	NOUN
inlawrev-22390	514	107	loan.207	loan.207	NOUN
inlawrev-22390	514	108	businesses	business	NOUN
inlawrev-22390	514	109	may	may	AUX
inlawrev-22390	514	110	also	also	ADV
inlawrev-22390	514	111	be	be	AUX
inlawrev-22390	514	112	denied	deny	VERB
inlawrev-22390	514	113	for	for	ADP
inlawrev-22390	514	114	not	not	PART
inlawrev-22390	514	115	having	have	VERB
inlawrev-22390	514	116	sufficiently	sufficiently	ADV
inlawrev-22390	514	117	invested	invest	VERB
inlawrev-22390	514	118	equity	equity	NOUN
inlawrev-22390	514	119	,	,	PUNCT
inlawrev-22390	514	120	or	or	CCONJ
inlawrev-22390	514	121	failing	fail	VERB
inlawrev-22390	514	122	to	to	PART
inlawrev-22390	514	123	first	first	ADV
inlawrev-22390	514	124	use	use	VERB
inlawrev-22390	514	125	alternative	alternative	ADJ
inlawrev-22390	514	126	financial	financial	ADJ
inlawrev-22390	514	127	resources	resource	NOUN
inlawrev-22390	514	128	such	such	ADJ
inlawrev-22390	514	129	as	as	ADP
inlawrev-22390	514	130	personal	personal	ADJ
inlawrev-22390	514	131	assets.208	assets.208	NOUN
inlawrev-22390	514	132	c.	c.	PROPN
inlawrev-22390	514	133	existing	exist	VERB
inlawrev-22390	514	134	businesses	business	NOUN
inlawrev-22390	514	135	are	be	AUX
inlawrev-22390	514	136	less	less	ADV
inlawrev-22390	514	137	risky	risky	ADJ
inlawrev-22390	514	138	for	for	SCONJ
inlawrev-22390	514	139	investors	investor	NOUN
inlawrev-22390	514	140	figure	figure	VERB
inlawrev-22390	514	141	1	1	NUM
inlawrev-22390	514	142	,	,	PUNCT
inlawrev-22390	514	143	infra	infra	NOUN
inlawrev-22390	514	144	,	,	PUNCT
inlawrev-22390	514	145	demonstrates	demonstrate	VERB
inlawrev-22390	514	146	that	that	SCONJ
inlawrev-22390	514	147	the	the	DET
inlawrev-22390	514	148	survival	survival	NOUN
inlawrev-22390	514	149	rate	rate	NOUN
inlawrev-22390	514	150	of	of	ADP
inlawrev-22390	514	151	new	new	ADJ
inlawrev-22390	514	152	businesses	business	NOUN
inlawrev-22390	514	153	varies	vary	VERB
inlawrev-22390	514	154	dramatically	dramatically	ADV
inlawrev-22390	514	155	over	over	ADP
inlawrev-22390	514	156	the	the	DET
inlawrev-22390	514	157	first	first	ADJ
inlawrev-22390	514	158	few	few	ADJ
inlawrev-22390	514	159	years	year	NOUN
inlawrev-22390	514	160	of	of	ADP
inlawrev-22390	514	161	the	the	DET
inlawrev-22390	514	162	company	company	NOUN
inlawrev-22390	514	163	’s	’s	PART
inlawrev-22390	514	164	life	life	NOUN
inlawrev-22390	514	165	:	:	PUNCT
inlawrev-22390	514	166	78.5	78.5	NUM
inlawrev-22390	514	167	%	%	NOUN
inlawrev-22390	514	168	of	of	ADP
inlawrev-22390	514	169	all	all	DET
inlawrev-22390	514	170	businesses	business	NOUN
inlawrev-22390	514	171	survive	survive	VERB
inlawrev-22390	514	172	for	for	ADP
inlawrev-22390	514	173	at	at	ADV
inlawrev-22390	514	174	least	least	ADV
inlawrev-22390	514	175	one	one	NUM
inlawrev-22390	514	176	year	year	NOUN
inlawrev-22390	514	177	before	before	ADP
inlawrev-22390	514	178	failing	fail	VERB
inlawrev-22390	514	179	,	,	PUNCT
inlawrev-22390	514	180	but	but	CCONJ
inlawrev-22390	514	181	by	by	ADP
inlawrev-22390	514	182	the	the	DET
inlawrev-22390	514	183	tenth	tenth	ADJ
inlawrev-22390	514	184	year	year	NOUN
inlawrev-22390	514	185	,	,	PUNCT
inlawrev-22390	514	186	only	only	ADV
inlawrev-22390	514	187	33.5	33.5	NUM
inlawrev-22390	514	188	%	%	NOUN
inlawrev-22390	514	189	remain	remain	VERB
inlawrev-22390	514	190	in	in	ADP
inlawrev-22390	514	191	operation.20	operation.20	NOUN
inlawrev-22390	514	192	9	9	NUM
inlawrev-22390	514	193	the	the	DET
inlawrev-22390	514	194	first	first	ADJ
inlawrev-22390	514	195	two	two	NUM
inlawrev-22390	514	196	years	year	NOUN
inlawrev-22390	514	197	are	be	AUX
inlawrev-22390	514	198	the	the	DET
inlawrev-22390	514	199	most	most	ADV
inlawrev-22390	514	200	volatile	volatile	ADJ
inlawrev-22390	514	201	,	,	PUNCT
inlawrev-22390	514	202	but	but	CCONJ
inlawrev-22390	514	203	by	by	ADP
inlawrev-22390	514	204	year	year	NOUN
inlawrev-22390	514	205	three	three	NUM
inlawrev-22390	514	206	,	,	PUNCT
inlawrev-22390	514	207	the	the	DET
inlawrev-22390	514	208	rate	rate	NOUN
inlawrev-22390	514	209	of	of	ADP
inlawrev-22390	514	210	failure	failure	NOUN
inlawrev-22390	514	211	begins	begin	VERB
inlawrev-22390	514	212	to	to	PART
inlawrev-22390	514	213	decrease	decrease	VERB
inlawrev-22390	514	214	noticeably.210	noticeably.210	NOUN
inlawrev-22390	514	215	at	at	ADP
inlawrev-22390	514	216	the	the	DET
inlawrev-22390	514	217	three	three	NUM
inlawrev-22390	514	218	-	-	PUNCT
inlawrev-22390	514	219	year	year	NOUN
inlawrev-22390	514	220	mark	mark	NOUN
inlawrev-22390	514	221	,	,	PUNCT
inlawrev-22390	514	222	around	around	ADV
inlawrev-22390	514	223	40	40	NUM
inlawrev-22390	514	224	%	%	NOUN
inlawrev-22390	514	225	of	of	ADP
inlawrev-22390	514	226	all	all	DET
inlawrev-22390	514	227	businesses	business	NOUN
inlawrev-22390	514	228	will	will	AUX
inlawrev-22390	514	229	have	have	AUX
inlawrev-22390	514	230	failed	fail	VERB
inlawrev-22390	514	231	,	,	PUNCT
inlawrev-22390	514	232	but	but	CCONJ
inlawrev-22390	514	233	only	only	ADV
inlawrev-22390	514	234	an	an	DET
inlawrev-22390	514	235	additional	additional	ADJ
inlawrev-22390	514	236	26	26	NUM
inlawrev-22390	514	237	%	%	NOUN
inlawrev-22390	514	238	will	will	AUX
inlawrev-22390	514	239	fail	fail	VERB
inlawrev-22390	514	240	within	within	ADP
inlawrev-22390	514	241	the	the	DET
inlawrev-22390	514	242	next	next	ADJ
inlawrev-22390	514	243	seven	seven	NUM
inlawrev-22390	514	244	years.211	years.211	NOUN
inlawrev-22390	514	245	the	the	DET
inlawrev-22390	514	246	mean	mean	ADJ
inlawrev-22390	514	247	failure	failure	NOUN
inlawrev-22390	514	248	rate	rate	NOUN
inlawrev-22390	514	249	of	of	ADP
inlawrev-22390	514	250	businesses	business	NOUN
inlawrev-22390	514	251	is	be	AUX
inlawrev-22390	514	252	approximately	approximately	ADV
inlawrev-22390	514	253	13.5	13.5	NUM
inlawrev-22390	514	254	%	%	NOUN
inlawrev-22390	514	255	per	per	ADP
inlawrev-22390	514	256	year	year	NOUN
inlawrev-22390	514	257	during	during	ADP
inlawrev-22390	514	258	the	the	DET
inlawrev-22390	514	259	first	first	ADJ
inlawrev-22390	514	260	three	three	NUM
inlawrev-22390	514	261	years	year	NOUN
inlawrev-22390	514	262	,	,	PUNCT
inlawrev-22390	514	263	but	but	CCONJ
inlawrev-22390	514	264	only	only	ADV
inlawrev-22390	514	265	3.7	3.7	NUM
inlawrev-22390	514	266	%	%	NOUN
inlawrev-22390	514	267	per	per	ADP
inlawrev-22390	514	268	year	year	NOUN
inlawrev-22390	514	269	for	for	ADP
inlawrev-22390	514	270	the	the	DET
inlawrev-22390	514	271	next	next	ADJ
inlawrev-22390	514	272	seven.212	seven.212	NOUN
inlawrev-22390	514	273	thus	thus	ADV
inlawrev-22390	514	274	,	,	PUNCT
inlawrev-22390	514	275	a	a	DET
inlawrev-22390	514	276	seasoned	seasoned	ADJ
inlawrev-22390	514	277	business	business	NOUN
inlawrev-22390	514	278	,	,	PUNCT
inlawrev-22390	514	279	that	that	PRON
inlawrev-22390	514	280	has	have	AUX
inlawrev-22390	514	281	operated	operate	VERB
inlawrev-22390	514	282	for	for	ADP
inlawrev-22390	514	283	three	three	NUM
inlawrev-22390	514	284	years	year	NOUN
inlawrev-22390	514	285	or	or	CCONJ
inlawrev-22390	514	286	longer	long	ADV
inlawrev-22390	514	287	,	,	PUNCT
inlawrev-22390	514	288	is	be	AUX
inlawrev-22390	514	289	less	less	ADV
inlawrev-22390	514	290	likely	likely	ADJ
inlawrev-22390	514	291	to	to	PART
inlawrev-22390	514	292	fail	fail	VERB
inlawrev-22390	514	293	subsequently	subsequently	ADV
inlawrev-22390	514	294	than	than	ADP
inlawrev-22390	514	295	a	a	DET
inlawrev-22390	514	296	startup	startup	NOUN
inlawrev-22390	514	297	in	in	ADP
inlawrev-22390	514	298	its	its	PRON
inlawrev-22390	514	299	first	first	ADJ
inlawrev-22390	514	300	or	or	CCONJ
inlawrev-22390	514	301	second	second	ADJ
inlawrev-22390	514	302	year	year	NOUN
inlawrev-22390	514	303	of	of	ADP
inlawrev-22390	514	304	operation.213	operation.213	PROPN
inlawrev-22390	514	305	203	203	NUM
inlawrev-22390	514	306	.	.	PUNCT
inlawrev-22390	515	1	i	i	PRON
inlawrev-22390	515	2	d.	d.	PROPN
inlawrev-22390	515	3	at	at	ADP
inlawrev-22390	515	4	21	21	NUM
inlawrev-22390	515	5	.	.	PUNCT
inlawrev-22390	516	1	204	204	NUM
inlawrev-22390	516	2	.	.	PUNCT
inlawrev-22390	517	1	7(a	7(a	NUM
inlawrev-22390	517	2	)	)	PUNCT
inlawrev-22390	517	3	loan	loan	NOUN
inlawrev-22390	517	4	program	program	NOUN
inlawrev-22390	517	5	eligibility	eligibility	NOUN
inlawrev-22390	517	6	,	,	PUNCT
inlawrev-22390	517	7	sba.gov	sba.gov	NOUN
inlawrev-22390	517	8	,	,	PUNCT
inlawrev-22390	517	9	https://www.sba.gov/loans-grants/see-whatsba-offers/sba-loan-programs/general-small-business-loans-7a/7a-loan-program-eligibility	https://www.sba.gov/loans-grants/see-whatsba-offers/sba-loan-programs/general-small-business-loans-7a/7a-loan-program-eligibility	NOUN
inlawrev-22390	517	10	[	[	X
inlawrev-22390	517	11	https://perma.cc/w32w-4t2f	https://perma.cc/w32w-4t2f	X
inlawrev-22390	517	12	]	]	X
inlawrev-22390	517	13	(	(	PUNCT
inlawrev-22390	517	14	last	last	ADV
inlawrev-22390	517	15	visited	visit	VERB
inlawrev-22390	517	16	oct	oct	PROPN
inlawrev-22390	517	17	.	.	PROPN
inlawrev-22390	517	18	21	21	NUM
inlawrev-22390	517	19	,	,	PUNCT
inlawrev-22390	517	20	2016	2016	NUM
inlawrev-22390	517	21	)	)	PUNCT
inlawrev-22390	517	22	.	.	PUNCT
inlawrev-22390	518	1	205	205	NUM
inlawrev-22390	518	2	.	.	PUNCT
inlawrev-22390	519	1	what	what	PRON
inlawrev-22390	519	2	sba	sba	PROPN
inlawrev-22390	519	3	offers	offer	VERB
inlawrev-22390	519	4	to	to	PART
inlawrev-22390	519	5	help	help	VERB
inlawrev-22390	519	6	small	small	ADJ
inlawrev-22390	519	7	businesses	business	NOUN
inlawrev-22390	519	8	grow	grow	VERB
inlawrev-22390	519	9	,	,	PUNCT
inlawrev-22390	519	10	sba.gov	sba.gov	NOUN
inlawrev-22390	519	11	,	,	PUNCT
inlawrev-22390	519	12	https://www.sba.gov/loansgrants/see-what-sba-offers/what-sba-offers-help-small-businesses-grow	https://www.sba.gov/loansgrants/see-what-sba-offers/what-sba-offers-help-small-businesses-grow	PROPN
inlawrev-22390	520	1	[	[	X
inlawrev-22390	520	2	https://perma.cc/2bbp7bkl	https://perma.cc/2bbp7bkl	NOUN
inlawrev-22390	520	3	]	]	X
inlawrev-22390	520	4	(	(	PUNCT
inlawrev-22390	520	5	last	last	ADJ
inlawrev-22390	520	6	visited	visit	VERB
inlawrev-22390	520	7	feb	feb	PROPN
inlawrev-22390	520	8	.	.	PROPN
inlawrev-22390	520	9	8	8	NUM
inlawrev-22390	520	10	,	,	PUNCT
inlawrev-22390	520	11	2017	2017	NUM
inlawrev-22390	520	12	)	)	PUNCT
inlawrev-22390	520	13	.	.	PUNCT
inlawrev-22390	521	1	206	206	NUM
inlawrev-22390	521	2	.	.	PUNCT
inlawrev-22390	522	1	use	use	NOUN
inlawrev-22390	522	2	of	of	ADP
inlawrev-22390	522	3	loan	loan	NOUN
inlawrev-22390	522	4	proceeds	proceed	NOUN
inlawrev-22390	522	5	,	,	PUNCT
inlawrev-22390	522	6	sba.gov	sba.gov	NUM
inlawrev-22390	522	7	,	,	PUNCT
inlawrev-22390	522	8	https://www.sba.gov/loans-grants/see-what-sbaoffers/sba-loan-programs/small-business-loans-sba-advantage-loans-7a/use-loan-proceeds	https://www.sba.gov/loans-grants/see-what-sbaoffers/sba-loan-programs/small-business-loans-sba-advantage-loans-7a/use-loan-proceed	VERB
inlawrev-22390	522	9	[	[	X
inlawrev-22390	522	10	https://perma.cc/5cxt-suyd	https://perma.cc/5cxt-suyd	X
inlawrev-22390	522	11	]	]	X
inlawrev-22390	522	12	(	(	PUNCT
inlawrev-22390	522	13	last	last	ADJ
inlawrev-22390	522	14	visited	visit	VERB
inlawrev-22390	522	15	feb	feb	PROPN
inlawrev-22390	522	16	.	.	PROPN
inlawrev-22390	522	17	8	8	NUM
inlawrev-22390	522	18	,	,	PUNCT
inlawrev-22390	522	19	2017	2017	NUM
inlawrev-22390	522	20	)	)	PUNCT
inlawrev-22390	522	21	.	.	PUNCT
inlawrev-22390	523	1	207	207	NUM
inlawrev-22390	523	2	.	.	X
inlawrev-22390	524	1	7(a	7(a	NUM
inlawrev-22390	524	2	)	)	PUNCT
inlawrev-22390	524	3	loan	loan	NOUN
inlawrev-22390	524	4	program	program	NOUN
inlawrev-22390	524	5	eligibility	eligibility	NOUN
inlawrev-22390	524	6	,	,	PUNCT
inlawrev-22390	524	7	supra	supra	PROPN
inlawrev-22390	524	8	note	note	NOUN
inlawrev-22390	524	9	204	204	NUM
inlawrev-22390	524	10	.	.	PUNCT
inlawrev-22390	524	11	208	208	NUM
inlawrev-22390	524	12	.	.	PUNCT
inlawrev-22390	525	1	i	i	PRON
inlawrev-22390	525	2	d.	d.	PROPN
inlawrev-22390	525	3	209	209	NUM
inlawrev-22390	525	4	.	.	PUNCT
inlawrev-22390	526	1	see	see	VERB
inlawrev-22390	526	2	infra	infra	NOUN
inlawrev-22390	526	3	figure	figure	NOUN
inlawrev-22390	526	4	1	1	NUM
inlawrev-22390	526	5	.	.	NUM
inlawrev-22390	526	6	210	210	NUM
inlawrev-22390	526	7	.	.	PUNCT
inlawrev-22390	527	1	i	i	PRON
inlawrev-22390	527	2	d.	d.	PROPN
inlawrev-22390	527	3	211	211	NUM
inlawrev-22390	527	4	.	.	PUNCT
inlawrev-22390	528	1	i	i	PRON
inlawrev-22390	528	2	d.	d.	PROPN
inlawrev-22390	528	3	212	212	NUM
inlawrev-22390	528	4	.	.	PUNCT
inlawrev-22390	529	1	i	i	PRON
inlawrev-22390	529	2	d.	d.	PROPN
inlawrev-22390	529	3	213	213	NUM
inlawrev-22390	529	4	.	.	PUNCT
inlawrev-22390	529	5	sba	sba	PROPN
inlawrev-22390	529	6	office	office	PROPN
inlawrev-22390	529	7	of	of	ADP
inlawrev-22390	529	8	advocacy	advocacy	NOUN
inlawrev-22390	529	9	,	,	PUNCT
inlawrev-22390	529	10	survival	survival	NOUN
inlawrev-22390	529	11	rates	rate	NOUN
inlawrev-22390	529	12	and	and	CCONJ
inlawrev-22390	529	13	firm	firm	ADJ
inlawrev-22390	529	14	age	age	NOUN
inlawrev-22390	529	15	,	,	PUNCT
inlawrev-22390	529	16	sba.gov	sba.gov	NOUN
inlawrev-22390	529	17	,	,	PUNCT
inlawrev-22390	529	18	h	h	PROPN
inlawrev-22390	529	19	t	t	PROPN
inlawrev-22390	529	20	t	t	PROPN
inlawrev-22390	530	1	p	p	X
inlawrev-22390	530	2	s	s	X
inlawrev-22390	530	3	:/	:/	PUNCT
inlawrev-22390	530	4	/w	/w	NOUN
inlawrev-22390	530	5	w	w	PROPN
inlawrev-22390	530	6	w	w	PROPN
inlawrev-22390	530	7	.sba.gov	.sba.gov	NOUN
inlawrev-22390	530	8	/	/	SYM
inlawrev-22390	530	9	sites	site	NOUN
inlawrev-22390	530	10	/	/	SYM
inlawrev-22390	530	11	defau	defau	PROPN
inlawrev-22390	530	12	lt	lt	NOUN
inlawrev-22390	530	13	/	/	SYM
inlawrev-22390	530	14	file	file	NOUN
inlawrev-22390	530	15	s	s	PART
inlawrev-22390	530	16	/	/	SYM
inlawrev-22390	530	17	s	s	NOUN
inlawrev-22390	530	18	u	u	NOUN
inlawrev-22390	530	19	r	r	NOUN
inlawrev-22390	530	20	v	v	NOUN
inlawrev-22390	530	21	iv	iv	NUM
inlawrev-22390	530	22	a	a	DET
inlawrev-22390	530	23	lr	lr	NOUN
inlawrev-22390	530	24	a	a	DET
inlawrev-22390	530	25	t	t	NOUN
inlawrev-22390	530	26	e	e	NOUN
inlawrev-22390	530	27	s	s	PROPN
inlawrev-22390	530	28	an	an	DET
inlawrev-22390	530	29	d	d	PROPN
inlawrev-22390	530	30	fir	fir	NOUN
inlawrev-22390	530	31	m	m	NOUN
inlawrev-22390	530	32	ag	ag	NOUN
inlawrev-22390	530	33	e	e	SYM
inlawrev-22390	530	34	_	_	PUNCT
inlawrev-22390	530	35	ad	ad	NOUN
inlawrev-22390	530	36	a	a	NOUN
inlawrev-22390	530	37	_	_	NOUN
inlawrev-22390	530	38	0	0	PUNCT
inlawrev-22390	531	1	_	_	NOUN
inlawrev-22390	531	2	0	0	PUNCT
inlawrev-22390	531	3	.	.	PUNCT
inlawrev-22390	532	1	p	p	X
inlawrev-22390	533	1	d	d	X
inlawrev-22390	533	2	f	f	X
inlawrev-22390	534	1	[	[	X
inlawrev-22390	534	2	https://perma.cc/8qpk-g6qr	https://perma.cc/8qpk-g6qr	X
inlawrev-22390	534	3	]	]	X
inlawrev-22390	534	4	(	(	PUNCT
inlawrev-22390	534	5	last	last	ADV
inlawrev-22390	534	6	visited	visit	VERB
inlawrev-22390	534	7	dec	dec	PROPN
inlawrev-22390	534	8	.	.	PROPN
inlawrev-22390	534	9	4	4	NUM
inlawrev-22390	534	10	,	,	PUNCT
inlawrev-22390	534	11	2017	2017	NUM
inlawrev-22390	534	12	)	)	PUNCT
inlawrev-22390	534	13	.	.	PUNCT
inlawrev-22390	535	1	2018	2018	NUM
inlawrev-22390	535	2	]	]	PUNCT
inlawrev-22390	535	3	false	false	ADJ
inlawrev-22390	535	4	start	start	NOUN
inlawrev-22390	535	5	:	:	PUNCT
inlawrev-22390	535	6	carving	carve	VERB
inlawrev-22390	535	7	a	a	DET
inlawrev-22390	535	8	niche	niche	NOUN
inlawrev-22390	535	9	297	297	NUM
inlawrev-22390	535	10	figure	figure	NOUN
inlawrev-22390	535	11	1214	1214	NUM
inlawrev-22390	535	12	investors	investor	NOUN
inlawrev-22390	535	13	in	in	ADP
inlawrev-22390	535	14	seasoned	seasoned	ADJ
inlawrev-22390	535	15	businesses	business	NOUN
inlawrev-22390	535	16	may	may	AUX
inlawrev-22390	535	17	also	also	ADV
inlawrev-22390	535	18	be	be	AUX
inlawrev-22390	535	19	less	less	ADV
inlawrev-22390	535	20	likely	likely	ADJ
inlawrev-22390	535	21	to	to	PART
inlawrev-22390	535	22	be	be	AUX
inlawrev-22390	535	23	harmed	harm	VERB
inlawrev-22390	535	24	by	by	ADP
inlawrev-22390	535	25	stock	stock	NOUN
inlawrev-22390	535	26	dilution	dilution	NOUN
inlawrev-22390	535	27	.	.	PUNCT
inlawrev-22390	536	1	venture	venture	NOUN
inlawrev-22390	536	2	capitalists	capitalist	NOUN
inlawrev-22390	536	3	typically	typically	ADV
inlawrev-22390	536	4	focus	focus	VERB
inlawrev-22390	536	5	on	on	ADP
inlawrev-22390	536	6	young	young	ADJ
inlawrev-22390	536	7	,	,	PUNCT
inlawrev-22390	536	8	high	high	ADJ
inlawrev-22390	536	9	-	-	PUNCT
inlawrev-22390	536	10	growth	growth	NOUN
inlawrev-22390	536	11	companies.215	companies.215	NOUN
inlawrev-22390	536	12	they	they	PRON
inlawrev-22390	536	13	also	also	ADV
inlawrev-22390	536	14	prefer	prefer	VERB
inlawrev-22390	536	15	businesses	business	NOUN
inlawrev-22390	536	16	that	that	PRON
inlawrev-22390	536	17	have	have	AUX
inlawrev-22390	536	18	already	already	ADV
inlawrev-22390	536	19	secured	secure	VERB
inlawrev-22390	536	20	at	at	ADP
inlawrev-22390	536	21	least	least	ADV
inlawrev-22390	536	22	one	one	NUM
inlawrev-22390	536	23	other	other	ADJ
inlawrev-22390	536	24	form	form	NOUN
inlawrev-22390	536	25	of	of	ADP
inlawrev-22390	536	26	financing	financing	NOUN
inlawrev-22390	536	27	and	and	CCONJ
inlawrev-22390	536	28	are	be	AUX
inlawrev-22390	536	29	likely	likely	ADJ
inlawrev-22390	536	30	to	to	PART
inlawrev-22390	536	31	go	go	VERB
inlawrev-22390	536	32	public	public	ADJ
inlawrev-22390	536	33	after	after	SCONJ
inlawrev-22390	536	34	only	only	ADV
inlawrev-22390	536	35	a	a	DET
inlawrev-22390	536	36	few	few	ADJ
inlawrev-22390	536	37	years	year	NOUN
inlawrev-22390	536	38	of	of	ADP
inlawrev-22390	536	39	investment.216	investment.216	NOUN
inlawrev-22390	536	40	venture	venture	NOUN
inlawrev-22390	536	41	capitalists	capitalist	NOUN
inlawrev-22390	536	42	also	also	ADV
inlawrev-22390	536	43	typically	typically	ADV
inlawrev-22390	536	44	demand	demand	VERB
inlawrev-22390	536	45	“	"	PUNCT
inlawrev-22390	536	46	significant	significant	ADJ
inlawrev-22390	536	47	control	control	NOUN
inlawrev-22390	536	48	rights	right	NOUN
inlawrev-22390	536	49	over	over	ADP
inlawrev-22390	536	50	such	such	ADJ
inlawrev-22390	536	51	companies”217	companies”217	NOUN
inlawrev-22390	536	52	and	and	CCONJ
inlawrev-22390	536	53	push	push	VERB
inlawrev-22390	536	54	startups	startup	NOUN
inlawrev-22390	536	55	through	through	ADP
inlawrev-22390	536	56	multiple	multiple	ADJ
inlawrev-22390	536	57	rounds	round	NOUN
inlawrev-22390	536	58	of	of	ADP
inlawrev-22390	536	59	funding.218	funding.218	ADJ
inlawrev-22390	536	60	startups	startup	NOUN
inlawrev-22390	536	61	that	that	PRON
inlawrev-22390	536	62	successfully	successfully	ADV
inlawrev-22390	536	63	crowdfund	crowdfund	VERB
inlawrev-22390	536	64	an	an	DET
inlawrev-22390	536	65	initial	initial	ADJ
inlawrev-22390	536	66	round	round	NOUN
inlawrev-22390	536	67	of	of	ADP
inlawrev-22390	536	68	capital	capital	NOUN
inlawrev-22390	536	69	are	be	AUX
inlawrev-22390	536	70	likely	likely	ADJ
inlawrev-22390	536	71	to	to	PART
inlawrev-22390	536	72	need	need	VERB
inlawrev-22390	536	73	subsequent	subsequent	ADJ
inlawrev-22390	536	74	rounds	round	NOUN
inlawrev-22390	536	75	of	of	ADP
inlawrev-22390	536	76	funding	funding	NOUN
inlawrev-22390	536	77	,	,	PUNCT
inlawrev-22390	536	78	making	make	VERB
inlawrev-22390	536	79	them	they	PRON
inlawrev-22390	536	80	prime	prime	ADJ
inlawrev-22390	536	81	targets	target	NOUN
inlawrev-22390	536	82	for	for	ADP
inlawrev-22390	536	83	venture	venture	NOUN
inlawrev-22390	536	84	capitalists	capitalist	NOUN
inlawrev-22390	536	85	to	to	PART
inlawrev-22390	536	86	come	come	VERB
inlawrev-22390	536	87	in	in	ADP
inlawrev-22390	536	88	with	with	ADP
inlawrev-22390	536	89	an	an	DET
inlawrev-22390	536	90	offer	offer	NOUN
inlawrev-22390	536	91	of	of	ADP
inlawrev-22390	536	92	$	$	SYM
inlawrev-22390	536	93	2,000,000	2,000,000	NUM
inlawrev-22390	536	94	to	to	PART
inlawrev-22390	536	95	$	$	SYM
inlawrev-22390	536	96	10,000,000.219	10,000,000.219	NUM
inlawrev-22390	536	97	although	although	SCONJ
inlawrev-22390	536	98	seasoned	seasoned	ADJ
inlawrev-22390	536	99	businesses	business	NOUN
inlawrev-22390	536	100	may	may	AUX
inlawrev-22390	536	101	seek	seek	VERB
inlawrev-22390	536	102	out	out	ADP
inlawrev-22390	536	103	additional	additional	ADJ
inlawrev-22390	536	104	financing	financing	NOUN
inlawrev-22390	536	105	sources	source	NOUN
inlawrev-22390	536	106	down	down	ADP
inlawrev-22390	536	107	the	the	DET
inlawrev-22390	536	108	road	road	NOUN
inlawrev-22390	536	109	that	that	PRON
inlawrev-22390	536	110	could	could	AUX
inlawrev-22390	536	111	include	include	VERB
inlawrev-22390	536	112	some	some	DET
inlawrev-22390	536	113	type	type	NOUN
inlawrev-22390	536	114	of	of	ADP
inlawrev-22390	536	115	venture	venture	NOUN
inlawrev-22390	536	116	capital	capital	NOUN
inlawrev-22390	536	117	,	,	PUNCT
inlawrev-22390	536	118	the	the	DET
inlawrev-22390	536	119	problem	problem	NOUN
inlawrev-22390	536	120	of	of	ADP
inlawrev-22390	536	121	dilution	dilution	NOUN
inlawrev-22390	536	122	is	be	AUX
inlawrev-22390	536	123	a	a	DET
inlawrev-22390	536	124	greater	great	ADJ
inlawrev-22390	536	125	risk	risk	NOUN
inlawrev-22390	536	126	to	to	ADP
inlawrev-22390	536	127	investors	investor	NOUN
inlawrev-22390	536	128	in	in	ADP
inlawrev-22390	536	129	startups	startup	NOUN
inlawrev-22390	536	130	because	because	SCONJ
inlawrev-22390	536	131	more	more	ADJ
inlawrev-22390	536	132	startups	startup	NOUN
inlawrev-22390	536	133	will	will	AUX
inlawrev-22390	536	134	fit	fit	VERB
inlawrev-22390	536	135	the	the	DET
inlawrev-22390	536	136	model	model	NOUN
inlawrev-22390	536	137	of	of	ADP
inlawrev-22390	536	138	the	the	DET
inlawrev-22390	536	139	high	high	ADJ
inlawrev-22390	536	140	-	-	PUNCT
inlawrev-22390	536	141	growthpotential	growthpotential	ADJ
inlawrev-22390	536	142	investment	investment	NOUN
inlawrev-22390	536	143	venture	venture	NOUN
inlawrev-22390	536	144	capitalists	capitalist	NOUN
inlawrev-22390	536	145	are	be	AUX
inlawrev-22390	536	146	seeking.220	seeking.220	ADJ
inlawrev-22390	536	147	investors	investor	NOUN
inlawrev-22390	536	148	may	may	AUX
inlawrev-22390	536	149	also	also	ADV
inlawrev-22390	536	150	be	be	AUX
inlawrev-22390	536	151	protected	protect	VERB
inlawrev-22390	536	152	because	because	SCONJ
inlawrev-22390	536	153	seasoned	seasoned	ADJ
inlawrev-22390	536	154	small	small	ADJ
inlawrev-22390	536	155	businesses	business	NOUN
inlawrev-22390	536	156	may	may	AUX
inlawrev-22390	536	157	214	214	NUM
inlawrev-22390	536	158	.	.	PUNCT
inlawrev-22390	537	1	i	i	PRON
inlawrev-22390	537	2	d.	d.	PROPN
inlawrev-22390	537	3	215	215	NUM
inlawrev-22390	537	4	.	.	PUNCT
inlawrev-22390	538	1	rogers	roger	NOUN
inlawrev-22390	538	2	,	,	PUNCT
inlawrev-22390	538	3	supra	supra	PROPN
inlawrev-22390	538	4	note	note	NOUN
inlawrev-22390	538	5	3	3	NUM
inlawrev-22390	538	6	,	,	PUNCT
inlawrev-22390	538	7	at	at	ADP
inlawrev-22390	538	8	368	368	NUM
inlawrev-22390	538	9	-	-	SYM
inlawrev-22390	538	10	69	69	NUM
inlawrev-22390	538	11	.	.	PUNCT
inlawrev-22390	539	1	216	216	NUM
inlawrev-22390	539	2	.	.	PUNCT
inlawrev-22390	540	1	i	i	PRON
inlawrev-22390	540	2	d.	d.	PROPN
inlawrev-22390	540	3	at	at	ADP
inlawrev-22390	540	4	369	369	NUM
inlawrev-22390	540	5	.	.	PUNCT
inlawrev-22390	541	1	217	217	NUM
inlawrev-22390	541	2	.	.	PUNCT
inlawrev-22390	542	1	i	i	PRON
inlawrev-22390	542	2	d.	d.	PROPN
inlawrev-22390	542	3	218	218	NUM
inlawrev-22390	542	4	.	.	PUNCT
inlawrev-22390	543	1	i	i	PRON
inlawrev-22390	543	2	d.	d.	PROPN
inlawrev-22390	543	3	219	219	NUM
inlawrev-22390	543	4	.	.	PUNCT
inlawrev-22390	544	1	wroldsen	wroldsen	PROPN
inlawrev-22390	544	2	,	,	PUNCT
inlawrev-22390	544	3	supra	supra	PROPN
inlawrev-22390	544	4	note	note	NOUN
inlawrev-22390	544	5	1	1	NUM
inlawrev-22390	544	6	,	,	PUNCT
inlawrev-22390	544	7	at	at	ADP
inlawrev-22390	544	8	615	615	NUM
inlawrev-22390	544	9	-	-	SYM
inlawrev-22390	544	10	16	16	NUM
inlawrev-22390	544	11	.	.	PUNCT
inlawrev-22390	545	1	a	a	DET
inlawrev-22390	545	2	typical	typical	ADJ
inlawrev-22390	545	3	investment	investment	NOUN
inlawrev-22390	545	4	from	from	ADP
inlawrev-22390	545	5	a	a	DET
inlawrev-22390	545	6	venture	venture	NOUN
inlawrev-22390	545	7	capitalist	capitalist	NOUN
inlawrev-22390	545	8	is	be	AUX
inlawrev-22390	545	9	$	$	SYM
inlawrev-22390	545	10	2,000,000	2,000,000	NUM
inlawrev-22390	545	11	$	$	SYM
inlawrev-22390	545	12	10,000,000	10,000,000	NUM
inlawrev-22390	545	13	.	.	PUNCT
inlawrev-22390	546	1	i	i	PRON
inlawrev-22390	546	2	d.	d.	PROPN
inlawrev-22390	546	3	220	220	NUM
inlawrev-22390	546	4	.	.	PUNCT
inlawrev-22390	547	1	i	i	PRON
inlawrev-22390	547	2	d.	d.	PROPN
inlawrev-22390	547	3	at	at	ADP
inlawrev-22390	547	4	611	611	NUM
inlawrev-22390	547	5	.	.	PUNCT
inlawrev-22390	548	1	298	298	NUM
inlawrev-22390	548	2	indiana	indiana	PROPN
inlawrev-22390	548	3	law	law	PROPN
inlawrev-22390	548	4	review	review	NOUN
inlawrev-22390	549	1	[	[	X
inlawrev-22390	549	2	vol	vol	NOUN
inlawrev-22390	549	3	.	.	PUNCT
inlawrev-22390	550	1	51:277	51:277	NUM
inlawrev-22390	550	2	prefer	prefer	VERB
inlawrev-22390	550	3	debt	debt	NOUN
inlawrev-22390	550	4	-	-	PUNCT
inlawrev-22390	550	5	based	base	VERB
inlawrev-22390	550	6	regulation	regulation	NOUN
inlawrev-22390	550	7	crowdfunding	crowdfunde	VERB
inlawrev-22390	550	8	because	because	SCONJ
inlawrev-22390	550	9	of	of	ADP
inlawrev-22390	550	10	the	the	DET
inlawrev-22390	550	11	flexibility	flexibility	NOUN
inlawrev-22390	550	12	it	it	PRON
inlawrev-22390	550	13	offers.221	offers.221	VERB
inlawrev-22390	550	14	because	because	SCONJ
inlawrev-22390	550	15	debt	debt	NOUN
inlawrev-22390	550	16	must	must	AUX
inlawrev-22390	550	17	be	be	AUX
inlawrev-22390	550	18	repaid	repay	VERB
inlawrev-22390	550	19	,	,	PUNCT
inlawrev-22390	550	20	it	it	PRON
inlawrev-22390	550	21	theoretically	theoretically	ADV
inlawrev-22390	550	22	represents	represent	VERB
inlawrev-22390	550	23	a	a	DET
inlawrev-22390	550	24	less	less	ADV
inlawrev-22390	550	25	speculative	speculative	ADJ
inlawrev-22390	550	26	investment	investment	NOUN
inlawrev-22390	550	27	than	than	ADP
inlawrev-22390	550	28	equity	equity	NOUN
inlawrev-22390	550	29	,	,	PUNCT
inlawrev-22390	550	30	which	which	PRON
inlawrev-22390	550	31	may	may	AUX
inlawrev-22390	550	32	never	never	ADV
inlawrev-22390	550	33	yield	yield	VERB
inlawrev-22390	550	34	a	a	DET
inlawrev-22390	550	35	return.222	return.222	NOUN
inlawrev-22390	550	36	startups	startup	NOUN
inlawrev-22390	550	37	may	may	AUX
inlawrev-22390	550	38	face	face	VERB
inlawrev-22390	550	39	cashflow	cashflow	ADJ
inlawrev-22390	550	40	problems	problem	NOUN
inlawrev-22390	550	41	that	that	PRON
inlawrev-22390	550	42	prevent	prevent	VERB
inlawrev-22390	550	43	paying	pay	VERB
inlawrev-22390	550	44	back	back	ADP
inlawrev-22390	550	45	debt	debt	NOUN
inlawrev-22390	550	46	,	,	PUNCT
inlawrev-22390	550	47	may	may	AUX
inlawrev-22390	550	48	be	be	AUX
inlawrev-22390	550	49	forced	force	VERB
inlawrev-22390	550	50	into	into	ADP
inlawrev-22390	550	51	offering	offer	VERB
inlawrev-22390	550	52	an	an	DET
inlawrev-22390	550	53	extremely	extremely	ADV
inlawrev-22390	550	54	high	high	ADJ
inlawrev-22390	550	55	interest	interest	NOUN
inlawrev-22390	550	56	rate	rate	NOUN
inlawrev-22390	550	57	to	to	PART
inlawrev-22390	550	58	attract	attract	VERB
inlawrev-22390	550	59	investors	investor	NOUN
inlawrev-22390	550	60	,	,	PUNCT
inlawrev-22390	550	61	or	or	CCONJ
inlawrev-22390	550	62	may	may	AUX
inlawrev-22390	550	63	be	be	AUX
inlawrev-22390	550	64	unable	unable	ADJ
inlawrev-22390	550	65	to	to	PART
inlawrev-22390	550	66	attract	attract	VERB
inlawrev-22390	550	67	investors	investor	NOUN
inlawrev-22390	550	68	who	who	PRON
inlawrev-22390	550	69	only	only	ADV
inlawrev-22390	550	70	want	want	VERB
inlawrev-22390	550	71	the	the	DET
inlawrev-22390	550	72	potential	potential	ADJ
inlawrev-22390	550	73	high	high	ADJ
inlawrev-22390	550	74	-	-	PUNCT
inlawrev-22390	550	75	reward	reward	NOUN
inlawrev-22390	550	76	-	-	PUNCT
inlawrev-22390	550	77	equity	equity	NOUN
inlawrev-22390	550	78	could	could	AUX
inlawrev-22390	550	79	offer.223	offer.223	VERB
inlawrev-22390	550	80	small	small	ADJ
inlawrev-22390	550	81	businesses	business	NOUN
inlawrev-22390	550	82	are	be	AUX
inlawrev-22390	550	83	already	already	ADV
inlawrev-22390	550	84	accustomed	accustomed	ADJ
inlawrev-22390	550	85	to	to	ADP
inlawrev-22390	550	86	debt	debt	NOUN
inlawrev-22390	550	87	financing	financing	NOUN
inlawrev-22390	550	88	;	;	PUNCT
inlawrev-22390	550	89	in	in	ADP
inlawrev-22390	550	90	2016	2016	NUM
inlawrev-22390	550	91	,	,	PUNCT
inlawrev-22390	550	92	34	34	NUM
inlawrev-22390	550	93	%	%	NOUN
inlawrev-22390	550	94	of	of	ADP
inlawrev-22390	550	95	small	small	ADJ
inlawrev-22390	550	96	businesses	business	NOUN
inlawrev-22390	550	97	used	use	VERB
inlawrev-22390	550	98	some	some	DET
inlawrev-22390	550	99	kind	kind	NOUN
inlawrev-22390	550	100	of	of	ADP
inlawrev-22390	550	101	loan	loan	NOUN
inlawrev-22390	550	102	for	for	ADP
inlawrev-22390	550	103	capital	capital	NOUN
inlawrev-22390	550	104	compared	compare	VERB
inlawrev-22390	550	105	to	to	ADP
inlawrev-22390	550	106	only	only	ADV
inlawrev-22390	550	107	3	3	NUM
inlawrev-22390	550	108	%	%	NOUN
inlawrev-22390	550	109	who	who	PRON
inlawrev-22390	550	110	utilized	utilize	VERB
inlawrev-22390	550	111	venture	venture	NOUN
inlawrev-22390	550	112	capital	capital	NOUN
inlawrev-22390	550	113	or	or	CCONJ
inlawrev-22390	550	114	angel	angel	NOUN
inlawrev-22390	550	115	investors.224	investors.224	NOUN
inlawrev-22390	550	116	debt	debt	NOUN
inlawrev-22390	550	117	-	-	PUNCT
inlawrev-22390	550	118	based	base	VERB
inlawrev-22390	550	119	crowdfunding	crowdfunding	NOUN
inlawrev-22390	550	120	may	may	AUX
inlawrev-22390	550	121	also	also	ADV
inlawrev-22390	550	122	be	be	AUX
inlawrev-22390	550	123	easier	easy	ADJ
inlawrev-22390	550	124	for	for	ADP
inlawrev-22390	550	125	businesses	business	NOUN
inlawrev-22390	550	126	and	and	CCONJ
inlawrev-22390	550	127	investors	investor	NOUN
inlawrev-22390	550	128	because	because	SCONJ
inlawrev-22390	550	129	many	many	ADJ
inlawrev-22390	550	130	of	of	ADP
inlawrev-22390	550	131	the	the	DET
inlawrev-22390	550	132	more	more	ADV
inlawrev-22390	550	133	complicated	complicated	ADJ
inlawrev-22390	550	134	issues	issue	NOUN
inlawrev-22390	550	135	with	with	ADP
inlawrev-22390	550	136	equity	equity	NOUN
inlawrev-22390	550	137	such	such	ADJ
inlawrev-22390	550	138	as	as	ADP
inlawrev-22390	550	139	dilution	dilution	NOUN
inlawrev-22390	550	140	,	,	PUNCT
inlawrev-22390	550	141	voting	voting	NOUN
inlawrev-22390	550	142	rights	right	NOUN
inlawrev-22390	550	143	,	,	PUNCT
inlawrev-22390	550	144	and	and	CCONJ
inlawrev-22390	550	145	shareholder	shareholder	NOUN
inlawrev-22390	550	146	resolutions	resolution	NOUN
inlawrev-22390	550	147	will	will	AUX
inlawrev-22390	550	148	not	not	PART
inlawrev-22390	550	149	be	be	AUX
inlawrev-22390	550	150	present.225	present.225	ADP
inlawrev-22390	550	151	an	an	DET
inlawrev-22390	550	152	entrepreneur	entrepreneur	NOUN
inlawrev-22390	550	153	with	with	ADP
inlawrev-22390	550	154	a	a	DET
inlawrev-22390	550	155	seasoned	season	VERB
inlawrev-22390	550	156	business	business	NOUN
inlawrev-22390	550	157	may	may	AUX
inlawrev-22390	550	158	also	also	ADV
inlawrev-22390	550	159	not	not	PART
inlawrev-22390	550	160	be	be	AUX
inlawrev-22390	550	161	willing	willing	ADJ
inlawrev-22390	550	162	to	to	PART
inlawrev-22390	550	163	give	give	VERB
inlawrev-22390	550	164	up	up	ADP
inlawrev-22390	550	165	an	an	DET
inlawrev-22390	550	166	ownership	ownership	NOUN
inlawrev-22390	550	167	stake	stake	NOUN
inlawrev-22390	550	168	because	because	SCONJ
inlawrev-22390	550	169	of	of	ADP
inlawrev-22390	550	170	the	the	DET
inlawrev-22390	550	171	resultant	resultant	NOUN
inlawrev-22390	550	172	loss	loss	NOUN
inlawrev-22390	550	173	of	of	ADP
inlawrev-22390	550	174	control.226	control.226	PROPN
inlawrev-22390	550	175	vi	vi	PROPN
inlawrev-22390	550	176	.	.	PROPN
inlawrev-22390	550	177	proposed	propose	VERB
inlawrev-22390	550	178	solutions	solution	NOUN
inlawrev-22390	550	179	crafting	craft	VERB
inlawrev-22390	550	180	an	an	DET
inlawrev-22390	550	181	exemption	exemption	NOUN
inlawrev-22390	550	182	for	for	ADP
inlawrev-22390	550	183	seasoned	seasoned	ADJ
inlawrev-22390	550	184	small	small	ADJ
inlawrev-22390	550	185	businesses	business	NOUN
inlawrev-22390	550	186	is	be	AUX
inlawrev-22390	550	187	a	a	DET
inlawrev-22390	550	188	fairly	fairly	ADV
inlawrev-22390	550	189	simple	simple	ADJ
inlawrev-22390	550	190	exercise	exercise	NOUN
inlawrev-22390	550	191	because	because	SCONJ
inlawrev-22390	550	192	much	much	ADJ
inlawrev-22390	550	193	of	of	ADP
inlawrev-22390	550	194	the	the	DET
inlawrev-22390	550	195	structure	structure	NOUN
inlawrev-22390	550	196	of	of	ADP
inlawrev-22390	550	197	the	the	DET
inlawrev-22390	550	198	existing	exist	VERB
inlawrev-22390	550	199	law	law	NOUN
inlawrev-22390	550	200	could	could	AUX
inlawrev-22390	550	201	be	be	AUX
inlawrev-22390	550	202	copied	copy	VERB
inlawrev-22390	550	203	into	into	ADP
inlawrev-22390	550	204	a	a	DET
inlawrev-22390	550	205	new	new	ADJ
inlawrev-22390	550	206	statutory	statutory	ADJ
inlawrev-22390	550	207	section	section	NOUN
inlawrev-22390	550	208	after	after	ADP
inlawrev-22390	550	209	making	make	VERB
inlawrev-22390	550	210	the	the	DET
inlawrev-22390	550	211	relevant	relevant	ADJ
inlawrev-22390	550	212	changes.227	changes.227	NOUN
inlawrev-22390	550	213	these	these	DET
inlawrev-22390	550	214	proposed	propose	VERB
inlawrev-22390	550	215	changes	change	NOUN
inlawrev-22390	550	216	will	will	AUX
inlawrev-22390	550	217	generally	generally	ADV
inlawrev-22390	550	218	be	be	AUX
inlawrev-22390	550	219	a	a	DET
inlawrev-22390	550	220	matter	matter	NOUN
inlawrev-22390	550	221	of	of	ADP
inlawrev-22390	550	222	line	line	NOUN
inlawrev-22390	550	223	-	-	PUNCT
inlawrev-22390	550	224	drawing	drawing	NOUN
inlawrev-22390	550	225	rather	rather	ADV
inlawrev-22390	550	226	than	than	ADP
inlawrev-22390	550	227	a	a	DET
inlawrev-22390	550	228	complete	complete	ADJ
inlawrev-22390	550	229	rewrite	rewrite	NOUN
inlawrev-22390	550	230	but	but	CCONJ
inlawrev-22390	550	231	for	for	ADP
inlawrev-22390	550	232	clarity	clarity	NOUN
inlawrev-22390	550	233	should	should	AUX
inlawrev-22390	550	234	be	be	AUX
inlawrev-22390	550	235	codified	codify	VERB
inlawrev-22390	550	236	in	in	ADP
inlawrev-22390	550	237	a	a	DET
inlawrev-22390	550	238	new	new	ADJ
inlawrev-22390	550	239	u.s	u.s	PROPN
inlawrev-22390	550	240	.	.	PROPN
inlawrev-22390	550	241	code	code	PROPN
inlawrev-22390	550	242	section	section	NOUN
inlawrev-22390	550	243	adjacent	adjacent	ADJ
inlawrev-22390	550	244	to	to	ADP
inlawrev-22390	550	245	the	the	DET
inlawrev-22390	550	246	existing	exist	VERB
inlawrev-22390	550	247	statute	statute	NOUN
inlawrev-22390	550	248	,	,	PUNCT
inlawrev-22390	550	249	perhaps	perhaps	ADV
inlawrev-22390	550	250	section	section	NOUN
inlawrev-22390	550	251	77d-2.228	77d-2.228	NUM
inlawrev-22390	550	252	the	the	DET
inlawrev-22390	550	253	creation	creation	NOUN
inlawrev-22390	550	254	of	of	ADP
inlawrev-22390	550	255	this	this	DET
inlawrev-22390	550	256	new	new	ADJ
inlawrev-22390	550	257	category	category	NOUN
inlawrev-22390	550	258	of	of	ADP
inlawrev-22390	550	259	seasoned	seasoned	ADJ
inlawrev-22390	550	260	businesses	business	NOUN
inlawrev-22390	550	261	probably	probably	ADV
inlawrev-22390	550	262	must	must	AUX
inlawrev-22390	550	263	originate	originate	VERB
inlawrev-22390	550	264	with	with	ADP
inlawrev-22390	550	265	congress	congress	PROPN
inlawrev-22390	550	266	as	as	SCONJ
inlawrev-22390	550	267	many	many	ADJ
inlawrev-22390	550	268	of	of	ADP
inlawrev-22390	550	269	the	the	DET
inlawrev-22390	550	270	requirements	requirement	NOUN
inlawrev-22390	550	271	on	on	ADP
inlawrev-22390	550	272	issuers	issuer	NOUN
inlawrev-22390	550	273	and	and	CCONJ
inlawrev-22390	550	274	investors	investor	NOUN
inlawrev-22390	550	275	are	be	AUX
inlawrev-22390	550	276	explicitly	explicitly	ADV
inlawrev-22390	550	277	spelled	spell	VERB
inlawrev-22390	550	278	out	out	ADP
inlawrev-22390	550	279	in	in	ADP
inlawrev-22390	550	280	the	the	DET
inlawrev-22390	550	281	jobs	job	NOUN
inlawrev-22390	550	282	act.2	act.2	NOUN
inlawrev-22390	550	283	2	2	NUM
inlawrev-22390	550	284	9	9	NUM
inlawrev-22390	550	285	nothing	nothing	PRON
inlawrev-22390	550	286	within	within	ADP
inlawrev-22390	550	287	the	the	DET
inlawrev-22390	550	288	text	text	NOUN
inlawrev-22390	550	289	itself	itself	PRON
inlawrev-22390	550	290	gives	give	VERB
inlawrev-22390	550	291	the	the	DET
inlawrev-22390	550	292	sec	sec	PROPN
inlawrev-22390	550	293	broad	broad	ADJ
inlawrev-22390	550	294	authority	authority	NOUN
inlawrev-22390	550	295	to	to	PART
inlawrev-22390	550	296	rewrite	rewrite	VERB
inlawrev-22390	550	297	the	the	DET
inlawrev-22390	550	298	rules	rule	NOUN
inlawrev-22390	550	299	completely	completely	ADV
inlawrev-22390	550	300	though	though	SCONJ
inlawrev-22390	550	301	it	it	PRON
inlawrev-22390	550	302	does	do	AUX
inlawrev-22390	550	303	have	have	VERB
inlawrev-22390	550	304	the	the	DET
inlawrev-22390	550	305	authority	authority	NOUN
inlawrev-22390	550	306	to	to	PART
inlawrev-22390	550	307	create	create	VERB
inlawrev-22390	550	308	additional	additional	ADJ
inlawrev-22390	550	309	requirements	requirement	NOUN
inlawrev-22390	550	310	on	on	ADP
inlawrev-22390	550	311	issuers	issuer	NOUN
inlawrev-22390	550	312	for	for	ADP
inlawrev-22390	550	313	investor	investor	NOUN
inlawrev-22390	550	314	protection	protection	NOUN
inlawrev-22390	550	315	or	or	CCONJ
inlawrev-22390	550	316	in	in	ADP
inlawrev-22390	550	317	the	the	DET
inlawrev-22390	550	318	public	public	NOUN
inlawrev-22390	550	319	interest.230	interest.230	VERB
inlawrev-22390	550	320	after	after	ADP
inlawrev-22390	550	321	passing	pass	VERB
inlawrev-22390	550	322	the	the	DET
inlawrev-22390	550	323	new	new	ADJ
inlawrev-22390	550	324	statute	statute	NOUN
inlawrev-22390	550	325	,	,	PUNCT
inlawrev-22390	550	326	congress	congress	PROPN
inlawrev-22390	550	327	would	would	AUX
inlawrev-22390	550	328	likely	likely	ADV
inlawrev-22390	550	329	defer	defer	VERB
inlawrev-22390	550	330	to	to	ADP
inlawrev-22390	550	331	the	the	DET
inlawrev-22390	550	332	sec	sec	PROPN
inlawrev-22390	550	333	for	for	ADP
inlawrev-22390	550	334	final	final	ADJ
inlawrev-22390	550	335	rulemaking	rulemaking	NOUN
inlawrev-22390	550	336	as	as	SCONJ
inlawrev-22390	550	337	it	it	PRON
inlawrev-22390	550	338	did	do	VERB
inlawrev-22390	550	339	with	with	ADP
inlawrev-22390	550	340	the	the	DET
inlawrev-22390	550	341	original	original	ADJ
inlawrev-22390	550	342	jobs	job	NOUN
inlawrev-22390	550	343	act.231	act.231	VERB
inlawrev-22390	550	344	221	221	NUM
inlawrev-22390	550	345	.	.	PUNCT
inlawrev-22390	551	1	see	see	VERB
inlawrev-22390	551	2	andrew	andrew	PROPN
inlawrev-22390	551	3	a.	a.	PROPN
inlawrev-22390	551	4	schwartz	schwartz	PROPN
inlawrev-22390	551	5	,	,	PUNCT
inlawrev-22390	551	6	crowdfunding	crowdfunde	VERB
inlawrev-22390	551	7	securities	security	NOUN
inlawrev-22390	551	8	,	,	PUNCT
inlawrev-22390	551	9	88	88	NUM
inlawrev-22390	551	10	notre	notre	PROPN
inlawrev-22390	551	11	dame	dame	PROPN
inlawrev-22390	551	12	l.	l.	PROPN
inlawrev-22390	551	13	rev	rev	PROPN
inlawrev-22390	551	14	.	.	PROPN
inlawrev-22390	551	15	1457	1457	NUM
inlawrev-22390	551	16	,	,	PUNCT
inlawrev-22390	551	17	148290	148290	NUM
inlawrev-22390	551	18	(	(	PUNCT
inlawrev-22390	551	19	2013	2013	NUM
inlawrev-22390	551	20	)	)	PUNCT
inlawrev-22390	551	21	.	.	PUNCT
inlawrev-22390	552	1	222	222	NUM
inlawrev-22390	552	2	.	.	PUNCT
inlawrev-22390	553	1	i	i	PRON
inlawrev-22390	553	2	d.	d.	PROPN
inlawrev-22390	553	3	at	at	ADP
inlawrev-22390	553	4	1488	1488	NUM
inlawrev-22390	553	5	.	.	PUNCT
inlawrev-22390	554	1	223	223	NUM
inlawrev-22390	554	2	.	.	PUNCT
inlawrev-22390	555	1	i	i	PRON
inlawrev-22390	555	2	d.	d.	PROPN
inlawrev-22390	555	3	;	;	PUNCT
inlawrev-22390	555	4	rogers	roger	NOUN
inlawrev-22390	555	5	,	,	PUNCT
inlawrev-22390	555	6	supra	supra	PROPN
inlawrev-22390	555	7	note	note	NOUN
inlawrev-22390	555	8	3	3	NUM
inlawrev-22390	555	9	,	,	PUNCT
inlawrev-22390	555	10	at	at	ADP
inlawrev-22390	555	11	368	368	NUM
inlawrev-22390	555	12	-	-	SYM
inlawrev-22390	555	13	69	69	NUM
inlawrev-22390	555	14	.	.	PUNCT
inlawrev-22390	556	1	224	224	NUM
inlawrev-22390	556	2	.	.	PUNCT
inlawrev-22390	557	1	nat’l	nat’l	PROPN
inlawrev-22390	557	2	small	small	ADJ
inlawrev-22390	557	3	bus	bus	NOUN
inlawrev-22390	557	4	.	.	PUNCT
inlawrev-22390	558	1	ass’n	ass’n	PROPN
inlawrev-22390	558	2	,	,	PUNCT
inlawrev-22390	558	3	supra	supra	PROPN
inlawrev-22390	558	4	note	note	NOUN
inlawrev-22390	558	5	170	170	NUM
inlawrev-22390	558	6	,	,	PUNCT
inlawrev-22390	558	7	at	at	ADP
inlawrev-22390	558	8	9	9	NUM
inlawrev-22390	558	9	.	.	NOUN
inlawrev-22390	558	10	225	225	NUM
inlawrev-22390	558	11	.	.	PUNCT
inlawrev-22390	559	1	schwartz	schwartz	PROPN
inlawrev-22390	559	2	,	,	PUNCT
inlawrev-22390	559	3	supra	supra	PROPN
inlawrev-22390	559	4	note	note	VERB
inlawrev-22390	559	5	221	221	NUM
inlawrev-22390	559	6	,	,	PUNCT
inlawrev-22390	559	7	at	at	ADP
inlawrev-22390	559	8	1483	1483	NUM
inlawrev-22390	559	9	-	-	SYM
inlawrev-22390	559	10	87	87	NUM
inlawrev-22390	559	11	.	.	PUNCT
inlawrev-22390	560	1	226	226	NUM
inlawrev-22390	560	2	.	.	PUNCT
inlawrev-22390	561	1	i	i	PRON
inlawrev-22390	561	2	d.	d.	PROPN
inlawrev-22390	561	3	at	at	ADP
inlawrev-22390	561	4	1489	1489	NUM
inlawrev-22390	561	5	-	-	SYM
inlawrev-22390	561	6	90	90	NUM
inlawrev-22390	561	7	.	.	PUNCT
inlawrev-22390	562	1	227	227	NUM
inlawrev-22390	562	2	.	.	PUNCT
inlawrev-22390	563	1	see	see	VERB
inlawrev-22390	563	2	generally	generally	ADV
inlawrev-22390	563	3	jobs	job	NOUN
inlawrev-22390	563	4	act	act	PROPN
inlawrev-22390	563	5	,	,	PUNCT
inlawrev-22390	563	6	pub	pub	NOUN
inlawrev-22390	563	7	.	.	PUNCT
inlawrev-22390	564	1	l.	l.	PROPN
inlawrev-22390	564	2	no	no	INTJ
inlawrev-22390	564	3	.	.	PROPN
inlawrev-22390	565	1	112	112	NUM
inlawrev-22390	565	2	-	-	SYM
inlawrev-22390	565	3	106	106	NUM
inlawrev-22390	565	4	§	§	PROPN
inlawrev-22390	565	5	§	§	PROPN
inlawrev-22390	565	6	301	301	NUM
inlawrev-22390	565	7	-	-	SYM
inlawrev-22390	565	8	05	05	NUM
inlawrev-22390	565	9	,	,	PUNCT
inlawrev-22390	565	10	126	126	NUM
inlawrev-22390	565	11	stat	stat	NOUN
inlawrev-22390	565	12	.	.	PUNCT
inlawrev-22390	566	1	306	306	NUM
inlawrev-22390	566	2	(	(	PUNCT
inlawrev-22390	566	3	2012	2012	NUM
inlawrev-22390	566	4	)	)	PUNCT
inlawrev-22390	566	5	.	.	PUNCT
inlawrev-22390	567	1	the	the	DET
inlawrev-22390	567	2	bulk	bulk	NOUN
inlawrev-22390	567	3	of	of	ADP
inlawrev-22390	567	4	proposed	propose	VERB
inlawrev-22390	567	5	changes	change	NOUN
inlawrev-22390	567	6	will	will	AUX
inlawrev-22390	567	7	require	require	VERB
inlawrev-22390	567	8	adjusting	adjust	VERB
inlawrev-22390	567	9	number	number	NOUN
inlawrev-22390	567	10	values	value	NOUN
inlawrev-22390	567	11	or	or	CCONJ
inlawrev-22390	567	12	adding	add	VERB
inlawrev-22390	567	13	new	new	ADJ
inlawrev-22390	567	14	subsections	subsection	NOUN
inlawrev-22390	567	15	.	.	PUNCT
inlawrev-22390	568	1	228	228	NUM
inlawrev-22390	568	2	.	.	PUNCT
inlawrev-22390	569	1	most	most	ADJ
inlawrev-22390	569	2	of	of	ADP
inlawrev-22390	569	3	the	the	DET
inlawrev-22390	569	4	specific	specific	ADJ
inlawrev-22390	569	5	provisions	provision	NOUN
inlawrev-22390	569	6	for	for	ADP
inlawrev-22390	569	7	regulation	regulation	NOUN
inlawrev-22390	569	8	crowdfunding	crowdfunding	NOUN
inlawrev-22390	569	9	are	be	AUX
inlawrev-22390	569	10	codified	codify	VERB
inlawrev-22390	569	11	in	in	ADP
inlawrev-22390	569	12	15	15	NUM
inlawrev-22390	569	13	u.s.c	u.s.c	ADJ
inlawrev-22390	569	14	.	.	PUNCT
inlawrev-22390	570	1	§	§	PROPN
inlawrev-22390	570	2	77d-1	77d-1	NUM
inlawrev-22390	570	3	(	(	PUNCT
inlawrev-22390	570	4	2012	2012	NUM
inlawrev-22390	570	5	)	)	PUNCT
inlawrev-22390	570	6	.	.	PUNCT
inlawrev-22390	571	1	adding	add	VERB
inlawrev-22390	571	2	a	a	DET
inlawrev-22390	571	3	section	section	NOUN
inlawrev-22390	571	4	d-2	d-2	NOUN
inlawrev-22390	571	5	will	will	AUX
inlawrev-22390	571	6	keep	keep	VERB
inlawrev-22390	571	7	the	the	DET
inlawrev-22390	571	8	two	two	NUM
inlawrev-22390	571	9	sections	section	NOUN
inlawrev-22390	571	10	together	together	ADV
inlawrev-22390	571	11	.	.	PUNCT
inlawrev-22390	572	1	some	some	PRON
inlawrev-22390	572	2	of	of	ADP
inlawrev-22390	572	3	the	the	DET
inlawrev-22390	572	4	proposed	propose	VERB
inlawrev-22390	572	5	changes	change	NOUN
inlawrev-22390	572	6	in	in	ADP
inlawrev-22390	572	7	this	this	DET
inlawrev-22390	572	8	section	section	NOUN
inlawrev-22390	572	9	will	will	AUX
inlawrev-22390	572	10	also	also	ADV
inlawrev-22390	572	11	require	require	VERB
inlawrev-22390	572	12	modification	modification	NOUN
inlawrev-22390	572	13	to	to	ADP
inlawrev-22390	572	14	other	other	ADJ
inlawrev-22390	572	15	statutes	statute	NOUN
inlawrev-22390	572	16	such	such	ADJ
inlawrev-22390	572	17	as	as	ADP
inlawrev-22390	572	18	15	15	NUM
inlawrev-22390	572	19	u.s.c	u.s.c	ADJ
inlawrev-22390	572	20	.	.	PUNCT
inlawrev-22390	573	1	§	§	PROPN
inlawrev-22390	573	2	77d	77d	NOUN
inlawrev-22390	573	3	.	.	PUNCT
inlawrev-22390	573	4	229	229	NUM
inlawrev-22390	573	5	.	.	PUNCT
inlawrev-22390	574	1	jobs	job	NOUN
inlawrev-22390	574	2	act	act	VERB
inlawrev-22390	574	3	§	§	PROPN
inlawrev-22390	574	4	§	§	PROPN
inlawrev-22390	574	5	301	301	NUM
inlawrev-22390	574	6	-	-	SYM
inlawrev-22390	574	7	305	305	NUM
inlawrev-22390	574	8	.	.	PUNCT
inlawrev-22390	575	1	230	230	NUM
inlawrev-22390	575	2	.	.	PUNCT
inlawrev-22390	576	1	i	i	PRON
inlawrev-22390	576	2	d.	d.	PROPN
inlawrev-22390	576	3	at	at	ADP
inlawrev-22390	576	4	§	§	PROPN
inlawrev-22390	576	5	302	302	NUM
inlawrev-22390	576	6	.	.	NOUN
inlawrev-22390	576	7	231	231	NUM
inlawrev-22390	576	8	.	.	PUNCT
inlawrev-22390	577	1	i	i	PRON
inlawrev-22390	577	2	d.	d.	PROPN
inlawrev-22390	577	3	2018	2018	NUM
inlawrev-22390	577	4	]	]	PUNCT
inlawrev-22390	577	5	false	false	ADJ
inlawrev-22390	577	6	start	start	NOUN
inlawrev-22390	577	7	:	:	PUNCT
inlawrev-22390	577	8	carving	carve	VERB
inlawrev-22390	577	9	a	a	DET
inlawrev-22390	577	10	niche	niche	NOUN
inlawrev-22390	577	11	299	299	NUM
inlawrev-22390	577	12	a.	a.	NOUN
inlawrev-22390	577	13	key	key	NOUN
inlawrev-22390	577	14	sections	section	NOUN
inlawrev-22390	577	15	to	to	PART
inlawrev-22390	577	16	retain	retain	VERB
inlawrev-22390	577	17	the	the	DET
inlawrev-22390	577	18	jobs	job	NOUN
inlawrev-22390	577	19	act	act	NOUN
inlawrev-22390	577	20	and	and	CCONJ
inlawrev-22390	577	21	the	the	DET
inlawrev-22390	577	22	sec	sec	PROPN
inlawrev-22390	577	23	’s	’s	PART
inlawrev-22390	577	24	subsequent	subsequent	ADJ
inlawrev-22390	577	25	final	final	ADJ
inlawrev-22390	577	26	rules	rule	NOUN
inlawrev-22390	577	27	created	create	VERB
inlawrev-22390	577	28	several	several	ADJ
inlawrev-22390	577	29	important	important	ADJ
inlawrev-22390	577	30	investor	investor	NOUN
inlawrev-22390	577	31	protection	protection	NOUN
inlawrev-22390	577	32	and	and	CCONJ
inlawrev-22390	577	33	anti	anti	ADJ
inlawrev-22390	577	34	-	-	ADJ
inlawrev-22390	577	35	fraud	fraud	ADJ
inlawrev-22390	577	36	provisions	provision	NOUN
inlawrev-22390	577	37	that	that	PRON
inlawrev-22390	577	38	should	should	AUX
inlawrev-22390	577	39	be	be	AUX
inlawrev-22390	577	40	retained.232	retained.232	NOUN
inlawrev-22390	577	41	first	first	ADJ
inlawrev-22390	577	42	,	,	PUNCT
inlawrev-22390	577	43	an	an	DET
inlawrev-22390	577	44	investor	investor	NOUN
inlawrev-22390	577	45	has	have	VERB
inlawrev-22390	577	46	a	a	DET
inlawrev-22390	577	47	private	private	ADJ
inlawrev-22390	577	48	right	right	NOUN
inlawrev-22390	577	49	of	of	ADP
inlawrev-22390	577	50	action	action	NOUN
inlawrev-22390	577	51	against	against	ADP
inlawrev-22390	577	52	an	an	DET
inlawrev-22390	577	53	issuer	issuer	NOUN
inlawrev-22390	577	54	that	that	SCONJ
inlawrev-22390	577	55	“	"	PUNCT
inlawrev-22390	577	56	makes	make	VERB
inlawrev-22390	577	57	an	an	DET
inlawrev-22390	577	58	untrue	untrue	ADJ
inlawrev-22390	577	59	statement	statement	NOUN
inlawrev-22390	577	60	of	of	ADP
inlawrev-22390	577	61	a	a	DET
inlawrev-22390	577	62	material	material	ADJ
inlawrev-22390	577	63	fact	fact	NOUN
inlawrev-22390	577	64	or	or	CCONJ
inlawrev-22390	577	65	omits	omit	VERB
inlawrev-22390	577	66	to	to	PART
inlawrev-22390	577	67	state	state	VERB
inlawrev-22390	577	68	a	a	DET
inlawrev-22390	577	69	material	material	ADJ
inlawrev-22390	577	70	fact	fact	NOUN
inlawrev-22390	577	71	required	require	VERB
inlawrev-22390	577	72	to	to	PART
inlawrev-22390	577	73	be	be	AUX
inlawrev-22390	577	74	stated	state	VERB
inlawrev-22390	577	75	”	"	PUNCT
inlawrev-22390	577	76	and	and	CCONJ
inlawrev-22390	577	77	“	"	PUNCT
inlawrev-22390	577	78	does	do	AUX
inlawrev-22390	577	79	not	not	PART
inlawrev-22390	577	80	sustain	sustain	VERB
inlawrev-22390	577	81	the	the	DET
inlawrev-22390	577	82	burden	burden	NOUN
inlawrev-22390	577	83	of	of	ADP
inlawrev-22390	577	84	proof	proof	NOUN
inlawrev-22390	577	85	that	that	SCONJ
inlawrev-22390	577	86	such	such	ADJ
inlawrev-22390	577	87	issuer	issuer	NOUN
inlawrev-22390	577	88	did	do	AUX
inlawrev-22390	577	89	not	not	PART
inlawrev-22390	577	90	know	know	VERB
inlawrev-22390	577	91	,	,	PUNCT
inlawrev-22390	577	92	and	and	CCONJ
inlawrev-22390	577	93	in	in	ADP
inlawrev-22390	577	94	the	the	DET
inlawrev-22390	577	95	exercise	exercise	NOUN
inlawrev-22390	577	96	of	of	ADP
inlawrev-22390	577	97	reasonable	reasonable	ADJ
inlawrev-22390	577	98	care	care	NOUN
inlawrev-22390	577	99	could	could	AUX
inlawrev-22390	577	100	not	not	PART
inlawrev-22390	577	101	have	have	AUX
inlawrev-22390	577	102	known	know	VERB
inlawrev-22390	577	103	,	,	PUNCT
inlawrev-22390	577	104	of	of	ADP
inlawrev-22390	577	105	such	such	ADJ
inlawrev-22390	577	106	untruth	untruth	NOUN
inlawrev-22390	577	107	or	or	CCONJ
inlawrev-22390	577	108	omission	omission	NOUN
inlawrev-22390	577	109	.	.	PUNCT
inlawrev-22390	577	110	”2	”2	PUNCT
inlawrev-22390	578	1	3	3	NUM
inlawrev-22390	578	2	3	3	NUM
inlawrev-22390	578	3	this	this	DET
inlawrev-22390	578	4	provision	provision	NOUN
inlawrev-22390	578	5	has	have	AUX
inlawrev-22390	578	6	been	be	AUX
inlawrev-22390	578	7	criticized	criticize	VERB
inlawrev-22390	578	8	as	as	ADP
inlawrev-22390	578	9	exposing	expose	VERB
inlawrev-22390	578	10	issuers	issuer	NOUN
inlawrev-22390	578	11	to	to	ADP
inlawrev-22390	578	12	more	more	ADJ
inlawrev-22390	578	13	liability	liability	NOUN
inlawrev-22390	578	14	than	than	SCONJ
inlawrev-22390	578	15	they	they	PRON
inlawrev-22390	578	16	might	might	AUX
inlawrev-22390	578	17	face	face	VERB
inlawrev-22390	578	18	under	under	ADP
inlawrev-22390	578	19	other	other	ADJ
inlawrev-22390	578	20	exemptions	exemption	NOUN
inlawrev-22390	578	21	,	,	PUNCT
inlawrev-22390	578	22	but	but	CCONJ
inlawrev-22390	578	23	it	it	PRON
inlawrev-22390	578	24	is	be	AUX
inlawrev-22390	578	25	reasonable	reasonable	ADJ
inlawrev-22390	578	26	to	to	PART
inlawrev-22390	578	27	require	require	VERB
inlawrev-22390	578	28	a	a	DET
inlawrev-22390	578	29	seasoned	season	VERB
inlawrev-22390	578	30	business	business	NOUN
inlawrev-22390	578	31	to	to	PART
inlawrev-22390	578	32	draft	draft	VERB
inlawrev-22390	578	33	their	their	PRON
inlawrev-22390	578	34	disclosures	disclosure	NOUN
inlawrev-22390	578	35	with	with	ADP
inlawrev-22390	578	36	reasonable	reasonable	ADJ
inlawrev-22390	578	37	care.234	care.234	NOUN
inlawrev-22390	578	38	additionally	additionally	ADV
inlawrev-22390	578	39	,	,	PUNCT
inlawrev-22390	578	40	under	under	ADP
inlawrev-22390	578	41	the	the	DET
inlawrev-22390	578	42	sec	sec	PROPN
inlawrev-22390	578	43	’s	’s	PART
inlawrev-22390	578	44	final	final	ADJ
inlawrev-22390	578	45	rules	rule	NOUN
inlawrev-22390	578	46	the	the	DET
inlawrev-22390	578	47	issuer	issuer	NOUN
inlawrev-22390	578	48	does	do	AUX
inlawrev-22390	578	49	not	not	PART
inlawrev-22390	578	50	lose	lose	VERB
inlawrev-22390	578	51	the	the	DET
inlawrev-22390	578	52	ability	ability	NOUN
inlawrev-22390	578	53	to	to	PART
inlawrev-22390	578	54	use	use	VERB
inlawrev-22390	578	55	the	the	DET
inlawrev-22390	578	56	exemption	exemption	NOUN
inlawrev-22390	578	57	if	if	SCONJ
inlawrev-22390	578	58	it	it	PRON
inlawrev-22390	578	59	makes	make	VERB
inlawrev-22390	578	60	a	a	DET
inlawrev-22390	578	61	“	"	PUNCT
inlawrev-22390	578	62	good	good	ADJ
inlawrev-22390	578	63	faith	faith	NOUN
inlawrev-22390	578	64	and	and	CCONJ
inlawrev-22390	578	65	reasonable	reasonable	ADJ
inlawrev-22390	578	66	attempt	attempt	NOUN
inlawrev-22390	578	67	”	"	PUNCT
inlawrev-22390	578	68	to	to	PART
inlawrev-22390	578	69	comply	comply	VERB
inlawrev-22390	578	70	with	with	ADP
inlawrev-22390	578	71	the	the	DET
inlawrev-22390	578	72	rules	rule	NOUN
inlawrev-22390	578	73	and	and	CCONJ
inlawrev-22390	578	74	any	any	DET
inlawrev-22390	578	75	failure	failure	NOUN
inlawrev-22390	578	76	was	be	AUX
inlawrev-22390	578	77	“	"	PUNCT
inlawrev-22390	578	78	insignificant	insignificant	ADJ
inlawrev-22390	578	79	with	with	ADP
inlawrev-22390	578	80	respect	respect	NOUN
inlawrev-22390	578	81	to	to	ADP
inlawrev-22390	578	82	the	the	DET
inlawrev-22390	578	83	offering	offering	NOUN
inlawrev-22390	578	84	as	as	ADP
inlawrev-22390	578	85	a	a	DET
inlawrev-22390	578	86	whole[.]”235	whole[.]”235	NOUN
inlawrev-22390	578	87	second	second	ADJ
inlawrev-22390	578	88	,	,	PUNCT
inlawrev-22390	578	89	various	various	ADJ
inlawrev-22390	578	90	kinds	kind	NOUN
inlawrev-22390	578	91	of	of	ADP
inlawrev-22390	578	92	bad	bad	ADJ
inlawrev-22390	578	93	-	-	PUNCT
inlawrev-22390	578	94	actors	actor	NOUN
inlawrev-22390	578	95	,	,	PUNCT
inlawrev-22390	578	96	including	include	VERB
inlawrev-22390	578	97	those	those	PRON
inlawrev-22390	578	98	who	who	PRON
inlawrev-22390	578	99	have	have	AUX
inlawrev-22390	578	100	been	be	AUX
inlawrev-22390	578	101	convicted	convict	VERB
inlawrev-22390	578	102	of	of	ADP
inlawrev-22390	578	103	felonies	felony	NOUN
inlawrev-22390	578	104	“	"	PUNCT
inlawrev-22390	578	105	in	in	ADP
inlawrev-22390	578	106	connection	connection	NOUN
inlawrev-22390	578	107	with	with	ADP
inlawrev-22390	578	108	the	the	DET
inlawrev-22390	578	109	purchase	purchase	NOUN
inlawrev-22390	578	110	or	or	CCONJ
inlawrev-22390	578	111	sale	sale	NOUN
inlawrev-22390	578	112	of	of	ADP
inlawrev-22390	578	113	any	any	DET
inlawrev-22390	578	114	security	security	NOUN
inlawrev-22390	578	115	[	[	X
inlawrev-22390	578	116	,	,	PUNCT
inlawrev-22390	578	117	]	]	X
inlawrev-22390	578	118	”	"	PUNCT
inlawrev-22390	578	119	are	be	AUX
inlawrev-22390	578	120	disqualified	disqualify	VERB
inlawrev-22390	578	121	from	from	ADP
inlawrev-22390	578	122	utilizing	utilize	VERB
inlawrev-22390	578	123	the	the	DET
inlawrev-22390	578	124	crowdfunding	crowdfunding	NOUN
inlawrev-22390	578	125	exemption.236	exemption.236	PROPN
inlawrev-22390	578	126	b.	b.	PROPN
inlawrev-22390	578	127	key	key	PROPN
inlawrev-22390	578	128	sections	section	NOUN
inlawrev-22390	578	129	to	to	PART
inlawrev-22390	578	130	change	change	VERB
inlawrev-22390	578	131	to	to	PART
inlawrev-22390	578	132	begin	begin	VERB
inlawrev-22390	578	133	with	with	ADP
inlawrev-22390	578	134	,	,	PUNCT
inlawrev-22390	578	135	congress	congress	PROPN
inlawrev-22390	578	136	should	should	AUX
inlawrev-22390	578	137	address	address	VERB
inlawrev-22390	578	138	the	the	DET
inlawrev-22390	578	139	actual	actual	ADJ
inlawrev-22390	578	140	utility	utility	NOUN
inlawrev-22390	578	141	of	of	ADP
inlawrev-22390	578	142	the	the	DET
inlawrev-22390	578	143	law	law	NOUN
inlawrev-22390	578	144	.	.	PUNCT
inlawrev-22390	579	1	seasoned	season	VERB
inlawrev-22390	579	2	businesses	business	NOUN
inlawrev-22390	579	3	should	should	AUX
inlawrev-22390	579	4	be	be	AUX
inlawrev-22390	579	5	allowed	allow	VERB
inlawrev-22390	579	6	to	to	PART
inlawrev-22390	579	7	offer	offer	VERB
inlawrev-22390	579	8	more	more	ADJ
inlawrev-22390	579	9	than	than	ADP
inlawrev-22390	579	10	startups	startup	NOUN
inlawrev-22390	579	11	because	because	SCONJ
inlawrev-22390	579	12	of	of	ADP
inlawrev-22390	579	13	the	the	DET
inlawrev-22390	579	14	decreased	decrease	VERB
inlawrev-22390	579	15	risk.237	risk.237	PROPN
inlawrev-22390	579	16	instead	instead	ADV
inlawrev-22390	579	17	of	of	ADP
inlawrev-22390	579	18	the	the	DET
inlawrev-22390	579	19	current	current	ADJ
inlawrev-22390	579	20	ceiling	ceiling	NOUN
inlawrev-22390	579	21	of	of	ADP
inlawrev-22390	579	22	$	$	SYM
inlawrev-22390	579	23	1,000,000	1,000,000	NUM
inlawrev-22390	579	24	per	per	ADP
inlawrev-22390	579	25	calendar	calendar	NOUN
inlawrev-22390	579	26	year	year	NOUN
inlawrev-22390	579	27	,	,	PUNCT
inlawrev-22390	579	28	congress	congress	PROPN
inlawrev-22390	579	29	should	should	AUX
inlawrev-22390	579	30	set	set	VERB
inlawrev-22390	579	31	a	a	DET
inlawrev-22390	579	32	higher	high	ADJ
inlawrev-22390	579	33	upper	upper	ADJ
inlawrev-22390	579	34	bound	bind	VERB
inlawrev-22390	579	35	for	for	ADP
inlawrev-22390	579	36	seasoned	seasoned	ADJ
inlawrev-22390	579	37	businesses.238	businesses.238	NOUN
inlawrev-22390	579	38	to	to	PART
inlawrev-22390	579	39	find	find	VERB
inlawrev-22390	579	40	an	an	DET
inlawrev-22390	579	41	appropriate	appropriate	ADJ
inlawrev-22390	579	42	amount	amount	NOUN
inlawrev-22390	579	43	,	,	PUNCT
inlawrev-22390	579	44	congress	congress	PROPN
inlawrev-22390	579	45	could	could	AUX
inlawrev-22390	579	46	look	look	VERB
inlawrev-22390	579	47	to	to	ADP
inlawrev-22390	579	48	small	small	ADJ
inlawrev-22390	579	49	business	business	NOUN
inlawrev-22390	579	50	loans	loan	NOUN
inlawrev-22390	579	51	as	as	ADP
inlawrev-22390	579	52	a	a	DET
inlawrev-22390	579	53	proxy	proxy	NOUN
inlawrev-22390	579	54	measurement	measurement	NOUN
inlawrev-22390	579	55	since	since	SCONJ
inlawrev-22390	579	56	commercial	commercial	ADJ
inlawrev-22390	579	57	loans	loan	NOUN
inlawrev-22390	579	58	are	be	AUX
inlawrev-22390	579	59	largely	largely	ADV
inlawrev-22390	579	60	unavailable	unavailable	ADJ
inlawrev-22390	579	61	to	to	ADP
inlawrev-22390	579	62	startups	startup	NOUN
inlawrev-22390	579	63	and	and	CCONJ
inlawrev-22390	579	64	,	,	PUNCT
inlawrev-22390	579	65	therefore	therefore	ADV
inlawrev-22390	579	66	,	,	PUNCT
inlawrev-22390	579	67	are	be	AUX
inlawrev-22390	579	68	indicative	indicative	ADJ
inlawrev-22390	579	69	of	of	ADP
inlawrev-22390	579	70	capital	capital	NOUN
inlawrev-22390	579	71	demand	demand	NOUN
inlawrev-22390	579	72	among	among	ADP
inlawrev-22390	579	73	seasoned	season	VERB
inlawrev-22390	579	74	small	small	ADJ
inlawrev-22390	579	75	businesses.239	businesses.239	PROPN
inlawrev-22390	579	76	the	the	DET
inlawrev-22390	579	77	average	average	ADJ
inlawrev-22390	579	78	loan	loan	NOUN
inlawrev-22390	579	79	backed	back	VERB
inlawrev-22390	579	80	by	by	ADP
inlawrev-22390	579	81	the	the	DET
inlawrev-22390	579	82	sba	sba	NOUN
inlawrev-22390	579	83	in	in	ADP
inlawrev-22390	579	84	2015	2015	NUM
inlawrev-22390	579	85	was	be	AUX
inlawrev-22390	579	86	$	$	SYM
inlawrev-22390	579	87	371,628.240	371,628.240	NOUN
inlawrev-22390	579	88	this	this	PRON
inlawrev-22390	579	89	is	be	AUX
inlawrev-22390	579	90	not	not	PART
inlawrev-22390	579	91	helpful	helpful	ADJ
inlawrev-22390	579	92	in	in	ADP
inlawrev-22390	579	93	determining	determine	VERB
inlawrev-22390	579	94	the	the	DET
inlawrev-22390	579	95	ceiling	ceiling	NOUN
inlawrev-22390	579	96	,	,	PUNCT
inlawrev-22390	579	97	but	but	CCONJ
inlawrev-22390	579	98	it	it	PRON
inlawrev-22390	579	99	may	may	AUX
inlawrev-22390	579	100	indicate	indicate	VERB
inlawrev-22390	579	101	the	the	DET
inlawrev-22390	579	102	lower	low	ADJ
inlawrev-22390	579	103	tiers	tier	NOUN
inlawrev-22390	579	104	that	that	PRON
inlawrev-22390	579	105	will	will	AUX
inlawrev-22390	579	106	be	be	AUX
inlawrev-22390	579	107	more	more	ADV
inlawrev-22390	579	108	commonly	commonly	ADV
inlawrev-22390	579	109	used	use	VERB
inlawrev-22390	579	110	by	by	ADP
inlawrev-22390	579	111	seasoned	season	VERB
inlawrev-22390	579	112	small	small	ADJ
inlawrev-22390	579	113	businesses.241	businesses.241	NOUN
inlawrev-22390	579	114	in	in	ADP
inlawrev-22390	579	115	2010	2010	NUM
inlawrev-22390	579	116	,	,	PUNCT
inlawrev-22390	579	117	congress	congress	PROPN
inlawrev-22390	579	118	passed	pass	VERB
inlawrev-22390	579	119	a	a	DET
inlawrev-22390	579	120	different	different	ADJ
inlawrev-22390	579	121	jobs	job	NOUN
inlawrev-22390	579	122	act	act	NOUN
inlawrev-22390	579	123	called	call	VERB
inlawrev-22390	579	124	the	the	DET
inlawrev-22390	579	125	small	small	ADJ
inlawrev-22390	579	126	business	business	NOUN
inlawrev-22390	579	127	jobs	job	NOUN
inlawrev-22390	579	128	act	act	NOUN
inlawrev-22390	579	129	of	of	ADP
inlawrev-22390	579	130	2010.242	2010.242	PROPN
inlawrev-22390	579	131	in	in	ADP
inlawrev-22390	579	132	sec	sec	PROPN
inlawrev-22390	579	133	.	.	PROPN
inlawrev-22390	579	134	1112	1112	NUM
inlawrev-22390	579	135	232	232	NUM
inlawrev-22390	579	136	.	.	PUNCT
inlawrev-22390	580	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	580	2	,	,	PUNCT
inlawrev-22390	580	3	80	80	NUM
inlawrev-22390	580	4	fed	feed	VERB
inlawrev-22390	580	5	.	.	PUNCT
inlawrev-22390	581	1	reg	reg	PROPN
inlawrev-22390	581	2	.	.	PUNCT
inlawrev-22390	582	1	71,388	71,388	NUM
inlawrev-22390	582	2	,	,	PUNCT
inlawrev-22390	582	3	71,480	71,480	NUM
inlawrev-22390	582	4	(	(	PUNCT
inlawrev-22390	582	5	nov	nov	PROPN
inlawrev-22390	582	6	.	.	PROPN
inlawrev-22390	582	7	16	16	NUM
inlawrev-22390	582	8	,	,	PUNCT
inlawrev-22390	582	9	2015	2015	NUM
inlawrev-22390	582	10	)	)	PUNCT
inlawrev-22390	582	11	;	;	PUNCT
inlawrev-22390	582	12	15	15	NUM
inlawrev-22390	582	13	u.s.c	u.s.c	NOUN
inlawrev-22390	582	14	.	.	PUNCT
inlawrev-22390	583	1	§	§	PROPN
inlawrev-22390	583	2	77d-1(c	77d-1(c	NUM
inlawrev-22390	583	3	)	)	PUNCT
inlawrev-22390	583	4	.	.	PUNCT
inlawrev-22390	584	1	233	233	NUM
inlawrev-22390	584	2	.	.	X
inlawrev-22390	584	3	15	15	NUM
inlawrev-22390	584	4	u.s.c	u.s.c	NOUN
inlawrev-22390	584	5	.	.	PUNCT
inlawrev-22390	585	1	§	§	PROPN
inlawrev-22390	585	2	77d-1(c)(2	77d-1(c)(2	PART
inlawrev-22390	585	3	)	)	PUNCT
inlawrev-22390	585	4	.	.	PUNCT
inlawrev-22390	586	1	234	234	NUM
inlawrev-22390	586	2	.	.	PUNCT
inlawrev-22390	586	3	rogers	roger	NOUN
inlawrev-22390	586	4	,	,	PUNCT
inlawrev-22390	586	5	supra	supra	PROPN
inlawrev-22390	586	6	note	note	NOUN
inlawrev-22390	586	7	3	3	NUM
inlawrev-22390	586	8	,	,	PUNCT
inlawrev-22390	586	9	at	at	ADP
inlawrev-22390	586	10	372	372	NUM
inlawrev-22390	586	11	-	-	SYM
inlawrev-22390	586	12	73	73	NUM
inlawrev-22390	586	13	.	.	PUNCT
inlawrev-22390	587	1	235	235	NUM
inlawrev-22390	587	2	.	.	NOUN
inlawrev-22390	587	3	17	17	NUM
inlawrev-22390	587	4	c.f.r	c.f.r	NOUN
inlawrev-22390	587	5	.	.	PUNCT
inlawrev-22390	588	1	§	§	PROPN
inlawrev-22390	588	2	227.502	227.502	NUM
inlawrev-22390	588	3	(	(	PUNCT
inlawrev-22390	588	4	2017	2017	NUM
inlawrev-22390	588	5	)	)	PUNCT
inlawrev-22390	588	6	.	.	PUNCT
inlawrev-22390	589	1	236	236	NUM
inlawrev-22390	589	2	.	.	PUNCT
inlawrev-22390	590	1	crowdfunding	crowdfunde	VERB
inlawrev-22390	590	2	80	80	NUM
inlawrev-22390	590	3	fed	fed	PROPN
inlawrev-22390	590	4	.	.	PUNCT
inlawrev-22390	591	1	reg	reg	PROPN
inlawrev-22390	591	2	.	.	PUNCT
inlawrev-22390	592	1	at	at	ADP
inlawrev-22390	592	2	71,549	71,549	NUM
inlawrev-22390	592	3	.	.	PUNCT
inlawrev-22390	593	1	237	237	NUM
inlawrev-22390	593	2	.	.	PUNCT
inlawrev-22390	594	1	see	see	VERB
inlawrev-22390	594	2	supra	supra	PROPN
inlawrev-22390	594	3	part	part	NOUN
inlawrev-22390	594	4	v.	v.	ADP
inlawrev-22390	594	5	238	238	NUM
inlawrev-22390	594	6	.	.	PUNCT
inlawrev-22390	595	1	see	see	VERB
inlawrev-22390	595	2	,	,	PUNCT
inlawrev-22390	595	3	e.g.	e.g.	ADV
inlawrev-22390	595	4	,	,	PUNCT
inlawrev-22390	595	5	vignone	vignone	PROPN
inlawrev-22390	595	6	supra	supra	PROPN
inlawrev-22390	595	7	note	note	PROPN
inlawrev-22390	595	8	77	77	NUM
inlawrev-22390	595	9	,	,	PUNCT
inlawrev-22390	595	10	at	at	ADP
inlawrev-22390	595	11	828	828	NUM
inlawrev-22390	595	12	-	-	SYM
inlawrev-22390	595	13	29	29	NUM
inlawrev-22390	595	14	.	.	PUNCT
inlawrev-22390	596	1	239	239	NUM
inlawrev-22390	596	2	.	.	PUNCT
inlawrev-22390	597	1	patrick	patrick	PROPN
inlawrev-22390	597	2	archambault	archambault	PROPN
inlawrev-22390	597	3	,	,	PUNCT
inlawrev-22390	597	4	how	how	SCONJ
inlawrev-22390	597	5	the	the	DET
inlawrev-22390	597	6	sec	sec	PROPN
inlawrev-22390	597	7	’s	’s	PART
inlawrev-22390	597	8	crowdfunding	crowdfunding	NOUN
inlawrev-22390	597	9	rules	rule	NOUN
inlawrev-22390	597	10	for	for	ADP
inlawrev-22390	597	11	funding	funding	NOUN
inlawrev-22390	597	12	portals	portal	NOUN
inlawrev-22390	597	13	save	save	VERB
inlawrev-22390	597	14	the	the	DET
inlawrev-22390	597	15	two	two	NUM
inlawrev-22390	597	16	-	-	PUNCT
inlawrev-22390	597	17	headed	head	VERB
inlawrev-22390	597	18	snake	snake	NOUN
inlawrev-22390	597	19	:	:	PUNCT
inlawrev-22390	597	20	drawing	draw	VERB
inlawrev-22390	597	21	the	the	DET
inlawrev-22390	597	22	proper	proper	ADJ
inlawrev-22390	597	23	balance	balance	NOUN
inlawrev-22390	597	24	between	between	ADP
inlawrev-22390	597	25	integrity	integrity	NOUN
inlawrev-22390	597	26	and	and	CCONJ
inlawrev-22390	597	27	cost	cost	NOUN
inlawrev-22390	597	28	,	,	PUNCT
inlawrev-22390	597	29	49	49	NUM
inlawrev-22390	597	30	suffolk	suffolk	PROPN
inlawrev-22390	597	31	u.	u.	PROPN
inlawrev-22390	597	32	l.	l.	PROPN
inlawrev-22390	597	33	rev	rev	PROPN
inlawrev-22390	597	34	.	.	PROPN
inlawrev-22390	597	35	61	61	NUM
inlawrev-22390	597	36	,	,	PUNCT
inlawrev-22390	597	37	62	62	NUM
inlawrev-22390	597	38	(	(	PUNCT
inlawrev-22390	597	39	2016	2016	NUM
inlawrev-22390	597	40	)	)	PUNCT
inlawrev-22390	597	41	.	.	PUNCT
inlawrev-22390	598	1	240	240	NUM
inlawrev-22390	598	2	.	.	PUNCT
inlawrev-22390	598	3	loan	loan	NOUN
inlawrev-22390	598	4	amounts	amount	NOUN
inlawrev-22390	598	5	,	,	PUNCT
inlawrev-22390	598	6	fees	fee	NOUN
inlawrev-22390	598	7	&	&	CCONJ
inlawrev-22390	598	8	interest	interest	NOUN
inlawrev-22390	598	9	rates	rate	NOUN
inlawrev-22390	598	10	,	,	PUNCT
inlawrev-22390	598	11	sba.gov	sba.gov	NUM
inlawrev-22390	598	12	,	,	PUNCT
inlawrev-22390	598	13	https://www.sba.gov/loans-grants/seewhat-sba-offers/sba-loan-programs/small-business-loans-sba-advantage-loans-7a/loan-amountsfees-interest-rates	https://www.sba.gov/loans-grants/seewhat-sba-offers/sba-loan-programs/small-business-loans-sba-advantage-loans-7a/loan-amountsfees-interest-rate	VERB
inlawrev-22390	598	14	[	[	X
inlawrev-22390	598	15	https://perma.cc/rr7l-x3h8	https://perma.cc/rr7l-x3h8	X
inlawrev-22390	598	16	]	]	X
inlawrev-22390	598	17	(	(	PUNCT
inlawrev-22390	598	18	last	last	ADJ
inlawrev-22390	598	19	visited	visit	VERB
inlawrev-22390	598	20	feb	feb	PROPN
inlawrev-22390	598	21	.	.	PROPN
inlawrev-22390	598	22	8	8	NUM
inlawrev-22390	598	23	,	,	PUNCT
inlawrev-22390	598	24	2017	2017	NUM
inlawrev-22390	598	25	)	)	PUNCT
inlawrev-22390	598	26	.	.	PUNCT
inlawrev-22390	599	1	241	241	X
inlawrev-22390	599	2	.	.	PUNCT
inlawrev-22390	600	1	i	i	PRON
inlawrev-22390	600	2	d.	d.	PROPN
inlawrev-22390	600	3	242	242	NUM
inlawrev-22390	600	4	.	.	PUNCT
inlawrev-22390	601	1	pub	pub	NOUN
inlawrev-22390	601	2	.	.	PUNCT
inlawrev-22390	602	1	l.	l.	PROPN
inlawrev-22390	602	2	no	no	INTJ
inlawrev-22390	602	3	.	.	PROPN
inlawrev-22390	603	1	111	111	NUM
inlawrev-22390	603	2	-	-	SYM
inlawrev-22390	603	3	240	240	NUM
inlawrev-22390	603	4	,	,	PUNCT
inlawrev-22390	603	5	124	124	NUM
inlawrev-22390	603	6	stat	stat	NOUN
inlawrev-22390	603	7	.	.	PUNCT
inlawrev-22390	604	1	2504	2504	NUM
inlawrev-22390	604	2	(	(	PUNCT
inlawrev-22390	604	3	2010	2010	NUM
inlawrev-22390	604	4	)	)	PUNCT
inlawrev-22390	604	5	.	.	PUNCT
inlawrev-22390	605	1	300	300	NUM
inlawrev-22390	605	2	indiana	indiana	PROPN
inlawrev-22390	605	3	law	law	PROPN
inlawrev-22390	605	4	review	review	NOUN
inlawrev-22390	605	5	[	[	X
inlawrev-22390	605	6	vol	vol	NOUN
inlawrev-22390	605	7	.	.	PUNCT
inlawrev-22390	606	1	51:277	51:277	NUM
inlawrev-22390	606	2	of	of	ADP
inlawrev-22390	606	3	this	this	DET
inlawrev-22390	606	4	bill	bill	NOUN
inlawrev-22390	606	5	,	,	PUNCT
inlawrev-22390	606	6	congress	congress	PROPN
inlawrev-22390	606	7	increased	increase	VERB
inlawrev-22390	606	8	the	the	DET
inlawrev-22390	606	9	ceiling	ceiling	NOUN
inlawrev-22390	606	10	for	for	ADP
inlawrev-22390	606	11	most	most	ADJ
inlawrev-22390	606	12	kinds	kind	NOUN
inlawrev-22390	606	13	of	of	ADP
inlawrev-22390	606	14	sba	sba	PROPN
inlawrev-22390	606	15	-	-	PUNCT
inlawrev-22390	606	16	backed	back	VERB
inlawrev-22390	606	17	loans	loan	NOUN
inlawrev-22390	606	18	to	to	ADP
inlawrev-22390	606	19	$	$	SYM
inlawrev-22390	606	20	5,000,000.243	5,000,000.243	NOUN
inlawrev-22390	606	21	sba	sba	PROPN
inlawrev-22390	606	22	loans	loan	NOUN
inlawrev-22390	606	23	are	be	AUX
inlawrev-22390	606	24	issued	issue	VERB
inlawrev-22390	606	25	by	by	ADP
inlawrev-22390	606	26	commercial	commercial	ADJ
inlawrev-22390	606	27	lenders	lender	NOUN
inlawrev-22390	606	28	,	,	PUNCT
inlawrev-22390	606	29	partially	partially	ADV
inlawrev-22390	606	30	guaranteed	guarantee	VERB
inlawrev-22390	606	31	by	by	ADP
inlawrev-22390	606	32	the	the	DET
inlawrev-22390	606	33	federal	federal	ADJ
inlawrev-22390	606	34	government	government	NOUN
inlawrev-22390	606	35	,	,	PUNCT
inlawrev-22390	606	36	and	and	CCONJ
inlawrev-22390	606	37	typically	typically	ADV
inlawrev-22390	606	38	require	require	VERB
inlawrev-22390	606	39	collateral	collateral	NOUN
inlawrev-22390	606	40	,	,	PUNCT
inlawrev-22390	606	41	giving	give	VERB
inlawrev-22390	606	42	lenders	lender	NOUN
inlawrev-22390	606	43	a	a	DET
inlawrev-22390	606	44	certain	certain	ADJ
inlawrev-22390	606	45	amount	amount	NOUN
inlawrev-22390	606	46	of	of	ADP
inlawrev-22390	606	47	security	security	NOUN
inlawrev-22390	606	48	that	that	SCONJ
inlawrev-22390	606	49	crowdfunding	crowdfunde	VERB
inlawrev-22390	606	50	investors	investor	NOUN
inlawrev-22390	606	51	would	would	AUX
inlawrev-22390	606	52	not	not	PART
inlawrev-22390	606	53	have.244	have.244	VERB
inlawrev-22390	606	54	thus	thus	ADV
inlawrev-22390	606	55	,	,	PUNCT
inlawrev-22390	606	56	$	$	SYM
inlawrev-22390	606	57	5,000,000	5,000,000	NUM
inlawrev-22390	606	58	may	may	AUX
inlawrev-22390	606	59	be	be	AUX
inlawrev-22390	606	60	too	too	ADV
inlawrev-22390	606	61	risky.245	risky.245	NOUN
inlawrev-22390	606	62	conversely	conversely	ADV
inlawrev-22390	606	63	,	,	PUNCT
inlawrev-22390	606	64	in	in	ADP
inlawrev-22390	606	65	economic	economic	ADJ
inlawrev-22390	606	66	analysis	analysis	NOUN
inlawrev-22390	606	67	,	,	PUNCT
inlawrev-22390	606	68	nonfarm	nonfarm	NOUN
inlawrev-22390	606	69	,	,	PUNCT
inlawrev-22390	606	70	nonresidential	nonresidential	ADJ
inlawrev-22390	606	71	loans	loan	NOUN
inlawrev-22390	606	72	of	of	ADP
inlawrev-22390	606	73	$	$	SYM
inlawrev-22390	606	74	1,000,000	1,000,000	NUM
inlawrev-22390	606	75	or	or	CCONJ
inlawrev-22390	606	76	less	less	ADJ
inlawrev-22390	606	77	are	be	AUX
inlawrev-22390	606	78	often	often	ADV
inlawrev-22390	606	79	used	use	VERB
inlawrev-22390	606	80	as	as	ADP
inlawrev-22390	606	81	a	a	DET
inlawrev-22390	606	82	proxy	proxy	NOUN
inlawrev-22390	606	83	measurement	measurement	NOUN
inlawrev-22390	606	84	for	for	ADP
inlawrev-22390	606	85	small	small	ADJ
inlawrev-22390	606	86	business	business	NOUN
inlawrev-22390	606	87	lending	lending	NOUN
inlawrev-22390	606	88	in	in	ADP
inlawrev-22390	606	89	general.246	general.246	PROPN
inlawrev-22390	606	90	some	some	DET
inlawrev-22390	606	91	critics	critic	NOUN
inlawrev-22390	606	92	have	have	AUX
inlawrev-22390	606	93	already	already	ADV
inlawrev-22390	606	94	suggested	suggest	VERB
inlawrev-22390	606	95	$	$	SYM
inlawrev-22390	606	96	1,000,000	1,000,000	NUM
inlawrev-22390	606	97	is	be	AUX
inlawrev-22390	606	98	too	too	ADV
inlawrev-22390	606	99	low.247	low.247	ADJ
inlawrev-22390	606	100	several	several	ADJ
inlawrev-22390	606	101	states	state	NOUN
inlawrev-22390	606	102	have	have	AUX
inlawrev-22390	606	103	set	set	VERB
inlawrev-22390	606	104	their	their	PRON
inlawrev-22390	606	105	crowdfunding	crowdfunding	NOUN
inlawrev-22390	606	106	offering	offering	NOUN
inlawrev-22390	606	107	limits	limit	NOUN
inlawrev-22390	606	108	to	to	ADP
inlawrev-22390	606	109	$	$	SYM
inlawrev-22390	606	110	2,000,000	2,000,000	NUM
inlawrev-22390	606	111	under	under	ADP
inlawrev-22390	606	112	the	the	DET
inlawrev-22390	606	113	intrastate	intrastate	ADJ
inlawrev-22390	606	114	exemption.248	exemption.248	NOUN
inlawrev-22390	606	115	this	this	PRON
inlawrev-22390	606	116	seems	seem	VERB
inlawrev-22390	606	117	to	to	PART
inlawrev-22390	606	118	be	be	AUX
inlawrev-22390	606	119	an	an	DET
inlawrev-22390	606	120	appropriate	appropriate	ADJ
inlawrev-22390	606	121	increase	increase	NOUN
inlawrev-22390	606	122	that	that	PRON
inlawrev-22390	606	123	reflects	reflect	VERB
inlawrev-22390	606	124	the	the	DET
inlawrev-22390	606	125	reduced	reduced	ADJ
inlawrev-22390	606	126	risk	risk	NOUN
inlawrev-22390	606	127	presented	present	VERB
inlawrev-22390	606	128	by	by	ADP
inlawrev-22390	606	129	seasoned	seasoned	ADJ
inlawrev-22390	606	130	businesses	business	NOUN
inlawrev-22390	606	131	while	while	SCONJ
inlawrev-22390	606	132	recognizing	recognize	VERB
inlawrev-22390	606	133	the	the	DET
inlawrev-22390	606	134	risk	risk	NOUN
inlawrev-22390	606	135	still	still	ADV
inlawrev-22390	606	136	posed	pose	VERB
inlawrev-22390	606	137	to	to	PART
inlawrev-22390	606	138	amateur	amateur	VERB
inlawrev-22390	606	139	investors.249	investors.249	NOUN
inlawrev-22390	606	140	after	after	SCONJ
inlawrev-22390	606	141	congress	congress	PROPN
inlawrev-22390	606	142	increases	increase	VERB
inlawrev-22390	606	143	the	the	DET
inlawrev-22390	606	144	offering	offering	NOUN
inlawrev-22390	606	145	limit	limit	NOUN
inlawrev-22390	606	146	,	,	PUNCT
inlawrev-22390	606	147	it	it	PRON
inlawrev-22390	606	148	should	should	AUX
inlawrev-22390	606	149	adjust	adjust	VERB
inlawrev-22390	606	150	the	the	DET
inlawrev-22390	606	151	tiered	tiere	VERB
inlawrev-22390	606	152	disclosure	disclosure	NOUN
inlawrev-22390	606	153	requirements.250	requirements.250	VERB
inlawrev-22390	606	154	two	two	NUM
inlawrev-22390	606	155	million	million	NUM
inlawrev-22390	606	156	would	would	AUX
inlawrev-22390	606	157	now	now	ADV
inlawrev-22390	606	158	be	be	AUX
inlawrev-22390	606	159	the	the	DET
inlawrev-22390	606	160	top	top	ADJ
inlawrev-22390	606	161	tier	tier	NOUN
inlawrev-22390	606	162	,	,	PUNCT
inlawrev-22390	606	163	which	which	PRON
inlawrev-22390	606	164	will	will	AUX
inlawrev-22390	606	165	continue	continue	VERB
inlawrev-22390	606	166	to	to	PART
inlawrev-22390	606	167	require	require	VERB
inlawrev-22390	606	168	the	the	DET
inlawrev-22390	606	169	most	most	ADJ
inlawrev-22390	606	170	disclosure.251	disclosure.251	NOUN
inlawrev-22390	606	171	the	the	DET
inlawrev-22390	606	172	question	question	NOUN
inlawrev-22390	606	173	then	then	ADV
inlawrev-22390	606	174	becomes	become	VERB
inlawrev-22390	606	175	how	how	SCONJ
inlawrev-22390	606	176	to	to	PART
inlawrev-22390	606	177	adjust	adjust	VERB
inlawrev-22390	606	178	the	the	DET
inlawrev-22390	606	179	lower	low	ADJ
inlawrev-22390	606	180	tiers	tier	NOUN
inlawrev-22390	606	181	.	.	PUNCT
inlawrev-22390	607	1	critics	critic	NOUN
inlawrev-22390	607	2	have	have	AUX
inlawrev-22390	607	3	pointed	point	VERB
inlawrev-22390	607	4	to	to	ADP
inlawrev-22390	607	5	financial	financial	ADJ
inlawrev-22390	607	6	statements	statement	NOUN
inlawrev-22390	607	7	as	as	ADP
inlawrev-22390	607	8	a	a	DET
inlawrev-22390	607	9	source	source	NOUN
inlawrev-22390	607	10	of	of	ADP
inlawrev-22390	607	11	cost	cost	NOUN
inlawrev-22390	607	12	,	,	PUNCT
inlawrev-22390	607	13	so	so	ADV
inlawrev-22390	607	14	reducing	reduce	VERB
inlawrev-22390	607	15	the	the	DET
inlawrev-22390	607	16	requirements	requirement	NOUN
inlawrev-22390	607	17	in	in	ADP
inlawrev-22390	607	18	the	the	DET
inlawrev-22390	607	19	lower	low	ADJ
inlawrev-22390	607	20	tiers	tier	NOUN
inlawrev-22390	607	21	would	would	AUX
inlawrev-22390	607	22	help	help	VERB
inlawrev-22390	607	23	assuage	assuage	VERB
inlawrev-22390	607	24	those	those	DET
inlawrev-22390	607	25	concerns.252	concerns.252	PROPN
inlawrev-22390	607	26	the	the	DET
inlawrev-22390	607	27	suggested	suggested	ADJ
inlawrev-22390	607	28	model	model	NOUN
inlawrev-22390	607	29	,	,	PUNCT
inlawrev-22390	607	30	as	as	SCONJ
inlawrev-22390	607	31	indicated	indicate	VERB
inlawrev-22390	607	32	in	in	ADP
inlawrev-22390	607	33	table	table	NOUN
inlawrev-22390	607	34	3	3	NUM
inlawrev-22390	607	35	,	,	PUNCT
inlawrev-22390	607	36	simply	simply	ADV
inlawrev-22390	607	37	requires	require	VERB
inlawrev-22390	607	38	repositioning	reposition	VERB
inlawrev-22390	607	39	the	the	DET
inlawrev-22390	607	40	disclosures	disclosure	NOUN
inlawrev-22390	607	41	already	already	ADV
inlawrev-22390	607	42	required	require	VERB
inlawrev-22390	607	43	by	by	ADP
inlawrev-22390	607	44	the	the	DET
inlawrev-22390	607	45	law.253	law.253	NOUN
inlawrev-22390	607	46	the	the	DET
inlawrev-22390	607	47	significant	significant	ADJ
inlawrev-22390	607	48	changes	change	NOUN
inlawrev-22390	607	49	are	be	AUX
inlawrev-22390	607	50	1	1	NUM
inlawrev-22390	607	51	)	)	PUNCT
inlawrev-22390	607	52	only	only	ADV
inlawrev-22390	607	53	requiring	require	VERB
inlawrev-22390	607	54	relevant	relevant	ADJ
inlawrev-22390	607	55	tax	tax	NOUN
inlawrev-22390	607	56	information	information	NOUN
inlawrev-22390	607	57	and	and	CCONJ
inlawrev-22390	607	58	internally	internally	ADV
inlawrev-22390	607	59	certified	certify	VERB
inlawrev-22390	607	60	financial	financial	ADJ
inlawrev-22390	607	61	statements	statement	NOUN
inlawrev-22390	607	62	up	up	ADP
inlawrev-22390	607	63	to	to	PART
inlawrev-22390	607	64	$	$	SYM
inlawrev-22390	607	65	500,000	500,000	NUM
inlawrev-22390	607	66	and	and	CCONJ
inlawrev-22390	607	67	2	2	NUM
inlawrev-22390	607	68	)	)	PUNCT
inlawrev-22390	607	69	only	only	ADV
inlawrev-22390	607	70	requiring	require	VERB
inlawrev-22390	607	71	reviewed	review	VERB
inlawrev-22390	607	72	financials	financial	NOUN
inlawrev-22390	607	73	for	for	ADP
inlawrev-22390	607	74	offers	offer	NOUN
inlawrev-22390	607	75	of	of	ADP
inlawrev-22390	607	76	up	up	ADP
inlawrev-22390	607	77	to	to	PART
inlawrev-22390	607	78	$	$	SYM
inlawrev-22390	607	79	1,000,000.254	1,000,000.254	NUM
inlawrev-22390	607	80	243	243	NUM
inlawrev-22390	607	81	.	.	PUNCT
inlawrev-22390	608	1	i	i	PRON
inlawrev-22390	608	2	d.	d.	PROPN
inlawrev-22390	608	3	§	§	PROPN
inlawrev-22390	608	4	1112	1112	NUM
inlawrev-22390	608	5	.	.	PUNCT
inlawrev-22390	609	1	244	244	NUM
inlawrev-22390	609	2	.	.	PUNCT
inlawrev-22390	610	1	what	what	PRON
inlawrev-22390	610	2	sba	sba	PROPN
inlawrev-22390	610	3	offers	offer	VERB
inlawrev-22390	610	4	to	to	PART
inlawrev-22390	610	5	help	help	VERB
inlawrev-22390	610	6	small	small	ADJ
inlawrev-22390	610	7	businesses	business	NOUN
inlawrev-22390	610	8	grow	grow	VERB
inlawrev-22390	610	9	,	,	PUNCT
inlawrev-22390	610	10	supra	supra	PROPN
inlawrev-22390	610	11	note	note	NOUN
inlawrev-22390	610	12	205	205	NUM
inlawrev-22390	610	13	.	.	PUNCT
inlawrev-22390	611	1	245	245	NUM
inlawrev-22390	611	2	.	.	PUNCT
inlawrev-22390	612	1	i	i	PRON
inlawrev-22390	612	2	d.	d.	PROPN
inlawrev-22390	612	3	246	246	NUM
inlawrev-22390	612	4	.	.	PUNCT
inlawrev-22390	613	1	wiersch	wiersch	PROPN
inlawrev-22390	613	2	&	&	CCONJ
inlawrev-22390	613	3	shane	shane	PROPN
inlawrev-22390	613	4	,	,	PUNCT
inlawrev-22390	613	5	supra	supra	PROPN
inlawrev-22390	613	6	note	note	NOUN
inlawrev-22390	613	7	194	194	NUM
inlawrev-22390	613	8	.	.	PUNCT
inlawrev-22390	613	9	247	247	NUM
inlawrev-22390	613	10	.	.	PUNCT
inlawrev-22390	614	1	see	see	VERB
inlawrev-22390	614	2	,	,	PUNCT
inlawrev-22390	614	3	e.g.	e.g.	ADV
inlawrev-22390	614	4	,	,	PUNCT
inlawrev-22390	614	5	vignone	vignone	NOUN
inlawrev-22390	614	6	,	,	PUNCT
inlawrev-22390	614	7	supra	supra	PROPN
inlawrev-22390	614	8	note	note	NOUN
inlawrev-22390	614	9	77	77	NUM
inlawrev-22390	614	10	,	,	PUNCT
inlawrev-22390	614	11	at	at	ADP
inlawrev-22390	614	12	828	828	NUM
inlawrev-22390	614	13	.	.	PUNCT
inlawrev-22390	615	1	248	248	NUM
inlawrev-22390	615	2	.	.	PUNCT
inlawrev-22390	616	1	pierce	pierce	PROPN
inlawrev-22390	616	2	-	-	PUNCT
inlawrev-22390	616	3	wright	wright	PROPN
inlawrev-22390	616	4	,	,	PUNCT
inlawrev-22390	616	5	supra	supra	PROPN
inlawrev-22390	616	6	note	note	PROPN
inlawrev-22390	616	7	56	56	NUM
inlawrev-22390	616	8	,	,	PUNCT
inlawrev-22390	616	9	at	at	ADP
inlawrev-22390	616	10	878	878	NUM
inlawrev-22390	616	11	.	.	PUNCT
inlawrev-22390	617	1	249	249	NUM
inlawrev-22390	617	2	.	.	PUNCT
inlawrev-22390	618	1	see	see	VERB
inlawrev-22390	618	2	supra	supra	PROPN
inlawrev-22390	618	3	part	part	NOUN
inlawrev-22390	618	4	v.	v.	ADP
inlawrev-22390	618	5	250	250	NUM
inlawrev-22390	618	6	.	.	PUNCT
inlawrev-22390	619	1	see	see	VERB
inlawrev-22390	619	2	,	,	PUNCT
inlawrev-22390	619	3	e.g.	e.g.	ADV
inlawrev-22390	619	4	,	,	PUNCT
inlawrev-22390	619	5	isaacson	isaacson	PROPN
inlawrev-22390	619	6	,	,	PUNCT
inlawrev-22390	619	7	supra	supra	PROPN
inlawrev-22390	619	8	note	note	AUX
inlawrev-22390	619	9	6	6	NUM
inlawrev-22390	619	10	,	,	PUNCT
inlawrev-22390	619	11	at	at	ADP
inlawrev-22390	619	12	456	456	NUM
inlawrev-22390	619	13	-	-	SYM
inlawrev-22390	619	14	57	57	NUM
inlawrev-22390	619	15	.	.	PUNCT
inlawrev-22390	619	16	251	251	NUM
inlawrev-22390	619	17	.	.	PUNCT
inlawrev-22390	620	1	see	see	AUX
inlawrev-22390	620	2	generally	generally	ADV
inlawrev-22390	620	3	crowdfunding	crowdfunde	VERB
inlawrev-22390	620	4	80	80	NUM
inlawrev-22390	620	5	fed	feed	VERB
inlawrev-22390	620	6	.	.	PUNCT
inlawrev-22390	621	1	reg	reg	PROPN
inlawrev-22390	621	2	.	.	PUNCT
inlawrev-22390	622	1	71,388	71,388	NUM
inlawrev-22390	622	2	,	,	PUNCT
inlawrev-22390	622	3	71,397	71,397	NUM
inlawrev-22390	622	4	-	-	SYM
inlawrev-22390	622	5	424	424	NUM
inlawrev-22390	622	6	(	(	PUNCT
inlawrev-22390	622	7	nov	nov	PROPN
inlawrev-22390	622	8	.	.	PROPN
inlawrev-22390	622	9	16	16	NUM
inlawrev-22390	622	10	,	,	PUNCT
inlawrev-22390	622	11	2015	2015	NUM
inlawrev-22390	622	12	)	)	PUNCT
inlawrev-22390	622	13	(	(	PUNCT
inlawrev-22390	622	14	final	final	ADJ
inlawrev-22390	622	15	rule	rule	NOUN
inlawrev-22390	622	16	to	to	PART
inlawrev-22390	622	17	be	be	AUX
inlawrev-22390	622	18	codified	codify	VERB
inlawrev-22390	622	19	at	at	ADP
inlawrev-22390	622	20	17	17	NUM
inlawrev-22390	622	21	c.f.r	c.f.r	NOUN
inlawrev-22390	622	22	.	.	PUNCT
inlawrev-22390	623	1	parts	part	NOUN
inlawrev-22390	623	2	200	200	NUM
inlawrev-22390	623	3	,	,	PUNCT
inlawrev-22390	623	4	227	227	NUM
inlawrev-22390	623	5	,	,	PUNCT
inlawrev-22390	623	6	232	232	NUM
inlawrev-22390	623	7	,	,	PUNCT
inlawrev-22390	623	8	239	239	NUM
inlawrev-22390	623	9	,	,	PUNCT
inlawrev-22390	623	10	240	240	NUM
inlawrev-22390	623	11	,	,	PUNCT
inlawrev-22390	623	12	249	249	NUM
inlawrev-22390	623	13	,	,	PUNCT
inlawrev-22390	623	14	269	269	NUM
inlawrev-22390	623	15	,	,	PUNCT
inlawrev-22390	623	16	and	and	CCONJ
inlawrev-22390	623	17	274	274	NUM
inlawrev-22390	623	18	)	)	PUNCT
inlawrev-22390	623	19	.	.	PUNCT
inlawrev-22390	624	1	252	252	NUM
inlawrev-22390	624	2	.	.	PUNCT
inlawrev-22390	625	1	see	see	VERB
inlawrev-22390	625	2	,	,	PUNCT
inlawrev-22390	625	3	e.g.	e.g.	ADV
inlawrev-22390	625	4	,	,	PUNCT
inlawrev-22390	625	5	vignone	vignone	NOUN
inlawrev-22390	625	6	,	,	PUNCT
inlawrev-22390	625	7	supra	supra	PROPN
inlawrev-22390	625	8	note	note	NOUN
inlawrev-22390	625	9	77	77	NUM
inlawrev-22390	625	10	,	,	PUNCT
inlawrev-22390	625	11	at	at	ADP
inlawrev-22390	625	12	828	828	NUM
inlawrev-22390	625	13	.	.	PUNCT
inlawrev-22390	626	1	253	253	NUM
inlawrev-22390	626	2	.	.	PUNCT
inlawrev-22390	627	1	see	see	VERB
inlawrev-22390	627	2	crowdfunding	crowdfunde	VERB
inlawrev-22390	627	3	80	80	NUM
inlawrev-22390	627	4	fed	feed	VERB
inlawrev-22390	627	5	.	.	PUNCT
inlawrev-22390	628	1	reg	reg	PROPN
inlawrev-22390	628	2	.	.	PUNCT
inlawrev-22390	629	1	at	at	ADP
inlawrev-22390	629	2	71,411	71,411	NUM
inlawrev-22390	629	3	-	-	SYM
inlawrev-22390	629	4	17	17	NUM
inlawrev-22390	629	5	.	.	PUNCT
inlawrev-22390	629	6	254	254	NUM
inlawrev-22390	629	7	.	.	PUNCT
inlawrev-22390	630	1	see	see	VERB
inlawrev-22390	630	2	infra	infra	NOUN
inlawrev-22390	630	3	,	,	PUNCT
inlawrev-22390	630	4	table	table	NOUN
inlawrev-22390	630	5	3	3	NUM
inlawrev-22390	630	6	.	.	NOUN
inlawrev-22390	630	7	2018	2018	NUM
inlawrev-22390	630	8	]	]	PUNCT
inlawrev-22390	630	9	false	false	ADJ
inlawrev-22390	630	10	start	start	NOUN
inlawrev-22390	630	11	:	:	PUNCT
inlawrev-22390	630	12	carving	carve	VERB
inlawrev-22390	630	13	a	a	DET
inlawrev-22390	630	14	niche	niche	NOUN
inlawrev-22390	630	15	301	301	NUM
inlawrev-22390	630	16	table	table	NOUN
inlawrev-22390	630	17	3	3	NUM
inlawrev-22390	630	18	amount	amount	NOUN
inlawrev-22390	630	19	of	of	ADP
inlawrev-22390	630	20	offer	offer	NOUN
inlawrev-22390	630	21	:	:	PUNCT
inlawrev-22390	630	22	#	#	NOUN
inlawrev-22390	630	23	$	$	SYM
inlawrev-22390	630	24	100,000	100,000	NUM
inlawrev-22390	630	25	#	#	NOUN
inlawrev-22390	630	26	$	$	SYM
inlawrev-22390	630	27	500,000	500,000	NUM
inlawrev-22390	630	28	#	#	NOUN
inlawrev-22390	630	29	$	$	SYM
inlawrev-22390	630	30	1,000,000	1,000,000	NUM
inlawrev-22390	630	31	#	#	NOUN
inlawrev-22390	630	32	$	$	SYM
inlawrev-22390	630	33	2,000,000	2,000,000	NUM
inlawrev-22390	630	34	financial	financial	ADJ
inlawrev-22390	630	35	disclosure	disclosure	NOUN
inlawrev-22390	630	36	required	require	VERB
inlawrev-22390	630	37	:	:	PUNCT
inlawrev-22390	630	38	internally	internally	ADV
inlawrev-22390	630	39	certified	certify	VERB
inlawrev-22390	630	40	financial	financial	ADJ
inlawrev-22390	630	41	statements	statement	NOUN
inlawrev-22390	630	42	and	and	CCONJ
inlawrev-22390	630	43	most	most	ADJ
inlawrev-22390	630	44	recent	recent	ADJ
inlawrev-22390	630	45	tax	tax	NOUN
inlawrev-22390	630	46	information	information	NOUN
inlawrev-22390	630	47	.	.	PUNCT
inlawrev-22390	631	1	internally	internally	ADV
inlawrev-22390	631	2	certified	certify	VERB
inlawrev-22390	631	3	financial	financial	ADJ
inlawrev-22390	631	4	statements	statement	NOUN
inlawrev-22390	631	5	and	and	CCONJ
inlawrev-22390	631	6	most	most	ADJ
inlawrev-22390	631	7	recent	recent	ADJ
inlawrev-22390	631	8	tax	tax	NOUN
inlawrev-22390	631	9	information	information	NOUN
inlawrev-22390	631	10	.	.	PUNCT
inlawrev-22390	632	1	independently	independently	ADV
inlawrev-22390	632	2	reviewed	review	VERB
inlawrev-22390	632	3	financial	financial	ADJ
inlawrev-22390	632	4	statements	statement	NOUN
inlawrev-22390	632	5	.	.	PUNCT
inlawrev-22390	633	1	independently	independently	ADV
inlawrev-22390	633	2	audited	audit	VERB
inlawrev-22390	633	3	financial	financial	ADJ
inlawrev-22390	633	4	statements	statement	NOUN
inlawrev-22390	633	5	.	.	PUNCT
inlawrev-22390	634	1	reducing	reduce	VERB
inlawrev-22390	634	2	the	the	DET
inlawrev-22390	634	3	amount	amount	NOUN
inlawrev-22390	634	4	of	of	ADP
inlawrev-22390	634	5	financial	financial	ADJ
inlawrev-22390	634	6	disclosure	disclosure	NOUN
inlawrev-22390	634	7	required	require	VERB
inlawrev-22390	634	8	in	in	ADP
inlawrev-22390	634	9	the	the	DET
inlawrev-22390	634	10	bottom	bottom	ADJ
inlawrev-22390	634	11	tiers	tier	NOUN
inlawrev-22390	634	12	while	while	SCONJ
inlawrev-22390	634	13	increasing	increase	VERB
inlawrev-22390	634	14	the	the	DET
inlawrev-22390	634	15	offering	offering	NOUN
inlawrev-22390	634	16	limit	limit	NOUN
inlawrev-22390	634	17	in	in	ADP
inlawrev-22390	634	18	the	the	DET
inlawrev-22390	634	19	top	top	ADJ
inlawrev-22390	634	20	tier	tier	NOUN
inlawrev-22390	634	21	should	should	AUX
inlawrev-22390	634	22	help	help	VERB
inlawrev-22390	634	23	to	to	PART
inlawrev-22390	634	24	alleviate	alleviate	VERB
inlawrev-22390	634	25	some	some	DET
inlawrev-22390	634	26	concerns	concern	NOUN
inlawrev-22390	634	27	about	about	ADP
inlawrev-22390	634	28	costs.255	costs.255	NOUN
inlawrev-22390	634	29	producing	producing	NOUN
inlawrev-22390	634	30	,	,	PUNCT
inlawrev-22390	634	31	reviewing	reviewing	NOUN
inlawrev-22390	634	32	,	,	PUNCT
inlawrev-22390	634	33	or	or	CCONJ
inlawrev-22390	634	34	auditing	audit	VERB
inlawrev-22390	634	35	financial	financial	ADJ
inlawrev-22390	634	36	statements	statement	NOUN
inlawrev-22390	634	37	will	will	AUX
inlawrev-22390	634	38	always	always	ADV
inlawrev-22390	634	39	present	present	VERB
inlawrev-22390	634	40	some	some	DET
inlawrev-22390	634	41	cost	cost	NOUN
inlawrev-22390	634	42	to	to	ADP
inlawrev-22390	634	43	an	an	DET
inlawrev-22390	634	44	issuer	issuer	NOUN
inlawrev-22390	634	45	,	,	PUNCT
inlawrev-22390	634	46	but	but	CCONJ
inlawrev-22390	634	47	by	by	ADP
inlawrev-22390	634	48	adjusting	adjust	VERB
inlawrev-22390	634	49	when	when	SCONJ
inlawrev-22390	634	50	they	they	PRON
inlawrev-22390	634	51	kick	kick	VERB
inlawrev-22390	634	52	in	in	ADP
inlawrev-22390	634	53	,	,	PUNCT
inlawrev-22390	634	54	congress	congress	PROPN
inlawrev-22390	634	55	can	can	AUX
inlawrev-22390	634	56	ease	ease	VERB
inlawrev-22390	634	57	the	the	DET
inlawrev-22390	634	58	burden	burden	NOUN
inlawrev-22390	634	59	on	on	ADP
inlawrev-22390	634	60	issuers	issuer	NOUN
inlawrev-22390	634	61	utilizing	utilize	VERB
inlawrev-22390	634	62	the	the	DET
inlawrev-22390	634	63	lower	low	ADJ
inlawrev-22390	634	64	tiers.2	tiers.2	NOUN
inlawrev-22390	634	65	5	5	NUM
inlawrev-22390	634	66	6	6	NUM
inlawrev-22390	634	67	for	for	ADP
inlawrev-22390	634	68	example	example	NOUN
inlawrev-22390	634	69	,	,	PUNCT
inlawrev-22390	634	70	a	a	DET
inlawrev-22390	634	71	seasoned	seasoned	ADJ
inlawrev-22390	634	72	small	small	ADJ
inlawrev-22390	634	73	business	business	NOUN
inlawrev-22390	634	74	,	,	PUNCT
inlawrev-22390	634	75	because	because	SCONJ
inlawrev-22390	634	76	it	it	PRON
inlawrev-22390	634	77	will	will	AUX
inlawrev-22390	634	78	have	have	AUX
inlawrev-22390	634	79	been	be	AUX
inlawrev-22390	634	80	in	in	ADP
inlawrev-22390	634	81	operation	operation	NOUN
inlawrev-22390	634	82	for	for	ADP
inlawrev-22390	634	83	at	at	ADV
inlawrev-22390	634	84	least	least	ADV
inlawrev-22390	634	85	three	three	NUM
inlawrev-22390	634	86	years	year	NOUN
inlawrev-22390	634	87	,	,	PUNCT
inlawrev-22390	634	88	likely	likely	ADV
inlawrev-22390	634	89	will	will	AUX
inlawrev-22390	634	90	have	have	VERB
inlawrev-22390	634	91	tax	tax	NOUN
inlawrev-22390	634	92	information	information	NOUN
inlawrev-22390	634	93	available	available	ADJ
inlawrev-22390	634	94	already	already	ADV
inlawrev-22390	634	95	that	that	PRON
inlawrev-22390	634	96	will	will	AUX
inlawrev-22390	634	97	present	present	VERB
inlawrev-22390	634	98	no	no	DET
inlawrev-22390	634	99	additional	additional	ADJ
inlawrev-22390	634	100	cost	cost	NOUN
inlawrev-22390	634	101	to	to	ADP
inlawrev-22390	634	102	the	the	DET
inlawrev-22390	634	103	issuer.257	issuer.257	NOUN
inlawrev-22390	634	104	as	as	ADP
inlawrev-22390	634	105	an	an	DET
inlawrev-22390	634	106	added	add	VERB
inlawrev-22390	634	107	protection	protection	NOUN
inlawrev-22390	634	108	measure	measure	NOUN
inlawrev-22390	634	109	,	,	PUNCT
inlawrev-22390	634	110	congress	congress	PROPN
inlawrev-22390	634	111	could	could	AUX
inlawrev-22390	634	112	adopt	adopt	VERB
inlawrev-22390	634	113	(	(	PUNCT
inlawrev-22390	634	114	or	or	CCONJ
inlawrev-22390	634	115	the	the	DET
inlawrev-22390	634	116	sec	sec	PROPN
inlawrev-22390	634	117	could	could	AUX
inlawrev-22390	634	118	apply	apply	VERB
inlawrev-22390	634	119	)	)	PUNCT
inlawrev-22390	634	120	the	the	DET
inlawrev-22390	634	121	language	language	NOUN
inlawrev-22390	634	122	in	in	ADP
inlawrev-22390	634	123	the	the	DET
inlawrev-22390	634	124	current	current	ADJ
inlawrev-22390	634	125	final	final	ADJ
inlawrev-22390	634	126	rules	rule	NOUN
inlawrev-22390	634	127	that	that	PRON
inlawrev-22390	634	128	mandate	mandate	NOUN
inlawrev-22390	634	129	audited	audit	VERB
inlawrev-22390	634	130	financials	financial	NOUN
inlawrev-22390	634	131	to	to	PART
inlawrev-22390	634	132	be	be	AUX
inlawrev-22390	634	133	used	use	VERB
inlawrev-22390	634	134	if	if	SCONJ
inlawrev-22390	634	135	they	they	PRON
inlawrev-22390	634	136	are	be	AUX
inlawrev-22390	634	137	already	already	ADV
inlawrev-22390	634	138	available	available	ADJ
inlawrev-22390	634	139	,	,	PUNCT
inlawrev-22390	634	140	regardless	regardless	ADV
inlawrev-22390	634	141	of	of	ADP
inlawrev-22390	634	142	offering	offer	VERB
inlawrev-22390	634	143	tier.258	tier.258	NOUN
inlawrev-22390	634	144	the	the	DET
inlawrev-22390	634	145	sec	sec	PROPN
inlawrev-22390	634	146	should	should	AUX
inlawrev-22390	634	147	strongly	strongly	ADV
inlawrev-22390	634	148	consider	consider	VERB
inlawrev-22390	634	149	creating	create	VERB
inlawrev-22390	634	150	a	a	DET
inlawrev-22390	634	151	more	more	ADV
inlawrev-22390	634	152	simplified	simplified	ADJ
inlawrev-22390	634	153	form	form	NOUN
inlawrev-22390	634	154	for	for	ADP
inlawrev-22390	634	155	seasoned	season	VERB
inlawrev-22390	634	156	small	small	ADJ
inlawrev-22390	634	157	business	business	NOUN
inlawrev-22390	634	158	offerings	offering	NOUN
inlawrev-22390	634	159	as	as	ADP
inlawrev-22390	634	160	another	another	DET
inlawrev-22390	634	161	method	method	NOUN
inlawrev-22390	634	162	of	of	ADP
inlawrev-22390	634	163	decreasing	decrease	VERB
inlawrev-22390	634	164	compliance	compliance	NOUN
inlawrev-22390	634	165	costs.259	costs.259	NOUN
inlawrev-22390	634	166	the	the	DET
inlawrev-22390	634	167	form	form	NOUN
inlawrev-22390	634	168	in	in	ADP
inlawrev-22390	634	169	its	its	PRON
inlawrev-22390	634	170	current	current	ADJ
inlawrev-22390	634	171	arrangement	arrangement	NOUN
inlawrev-22390	634	172	is	be	AUX
inlawrev-22390	634	173	time	time	NOUN
inlawrev-22390	634	174	-	-	PUNCT
inlawrev-22390	634	175	consuming	consume	VERB
inlawrev-22390	634	176	and	and	CCONJ
inlawrev-22390	634	177	burdensome	burdensome	ADJ
inlawrev-22390	634	178	to	to	PART
inlawrev-22390	634	179	complete.260	complete.260	VERB
inlawrev-22390	634	180	looking	look	VERB
inlawrev-22390	634	181	to	to	ADP
inlawrev-22390	634	182	state	state	NOUN
inlawrev-22390	634	183	crowdfunding	crowdfunding	NOUN
inlawrev-22390	634	184	regulations	regulation	NOUN
inlawrev-22390	634	185	may	may	AUX
inlawrev-22390	634	186	be	be	AUX
inlawrev-22390	634	187	helpful	helpful	ADJ
inlawrev-22390	634	188	in	in	ADP
inlawrev-22390	634	189	drafting	draft	VERB
inlawrev-22390	634	190	a	a	DET
inlawrev-22390	634	191	new	new	ADJ
inlawrev-22390	634	192	form.261	form.261	NOUN
inlawrev-22390	634	193	intrastate	intrastate	ADJ
inlawrev-22390	634	194	offerings	offering	NOUN
inlawrev-22390	634	195	are	be	AUX
inlawrev-22390	634	196	estimated	estimate	VERB
inlawrev-22390	634	197	to	to	PART
inlawrev-22390	634	198	cost	cost	VERB
inlawrev-22390	634	199	less	less	ADJ
inlawrev-22390	634	200	than	than	ADP
inlawrev-22390	634	201	$	$	SYM
inlawrev-22390	634	202	5,000	5,000	NUM
inlawrev-22390	634	203	in	in	ADP
inlawrev-22390	634	204	total	total	ADJ
inlawrev-22390	634	205	compliance	compliance	NOUN
inlawrev-22390	634	206	fees	fee	NOUN
inlawrev-22390	634	207	,	,	PUNCT
inlawrev-22390	634	208	including	include	VERB
inlawrev-22390	634	209	lawyers	lawyer	NOUN
inlawrev-22390	634	210	and	and	CCONJ
inlawrev-22390	634	211	accountants.262	accountants.262	VERB
inlawrev-22390	634	212	an	an	DET
inlawrev-22390	634	213	additional	additional	ADJ
inlawrev-22390	634	214	compromise	compromise	NOUN
inlawrev-22390	634	215	measure	measure	NOUN
inlawrev-22390	634	216	might	might	AUX
inlawrev-22390	634	217	be	be	AUX
inlawrev-22390	634	218	to	to	PART
inlawrev-22390	634	219	make	make	VERB
inlawrev-22390	634	220	the	the	DET
inlawrev-22390	634	221	simplified	simplified	ADJ
inlawrev-22390	634	222	form	form	NOUN
inlawrev-22390	634	223	only	only	ADV
inlawrev-22390	634	224	available	available	ADJ
inlawrev-22390	634	225	for	for	ADP
inlawrev-22390	634	226	offering	offer	VERB
inlawrev-22390	634	227	amounts	amount	NOUN
inlawrev-22390	634	228	of	of	ADP
inlawrev-22390	634	229	up	up	ADP
inlawrev-22390	634	230	to	to	PART
inlawrev-22390	634	231	$	$	SYM
inlawrev-22390	634	232	500,000	500,000	NUM
inlawrev-22390	634	233	to	to	PART
inlawrev-22390	634	234	reduce	reduce	VERB
inlawrev-22390	634	235	risk.2	risk.2	PROPN
inlawrev-22390	634	236	6	6	NUM
inlawrev-22390	634	237	3	3	NUM
inlawrev-22390	634	238	this	this	PRON
inlawrev-22390	634	239	would	would	AUX
inlawrev-22390	634	240	help	help	VERB
inlawrev-22390	634	241	encourage	encourage	VERB
inlawrev-22390	634	242	participation	participation	NOUN
inlawrev-22390	634	243	in	in	ADP
inlawrev-22390	634	244	what	what	PRON
inlawrev-22390	634	245	will	will	AUX
inlawrev-22390	634	246	likely	likely	ADV
inlawrev-22390	634	247	be	be	AUX
inlawrev-22390	634	248	the	the	DET
inlawrev-22390	634	249	most	most	ADV
inlawrev-22390	634	250	often	often	ADV
inlawrev-22390	634	251	used	use	VERB
inlawrev-22390	634	252	tiers	tier	NOUN
inlawrev-22390	634	253	for	for	ADP
inlawrev-22390	634	254	seasoned	season	VERB
inlawrev-22390	634	255	small	small	ADJ
inlawrev-22390	634	256	255	255	NUM
inlawrev-22390	634	257	.	.	PUNCT
inlawrev-22390	635	1	see	see	VERB
inlawrev-22390	635	2	hogan	hogan	PROPN
inlawrev-22390	635	3	,	,	PUNCT
inlawrev-22390	635	4	supra	supra	PROPN
inlawrev-22390	635	5	note	note	PROPN
inlawrev-22390	635	6	10	10	NUM
inlawrev-22390	635	7	,	,	PUNCT
inlawrev-22390	635	8	at	at	ADP
inlawrev-22390	635	9	1110	1110	NUM
inlawrev-22390	635	10	.	.	PUNCT
inlawrev-22390	636	1	256	256	NUM
inlawrev-22390	636	2	.	.	X
inlawrev-22390	637	1	see	see	VERB
inlawrev-22390	637	2	isaacson	isaacson	PROPN
inlawrev-22390	637	3	,	,	PUNCT
inlawrev-22390	637	4	supra	supra	PROPN
inlawrev-22390	637	5	note	note	PROPN
inlawrev-22390	637	6	6	6	NUM
inlawrev-22390	637	7	,	,	PUNCT
inlawrev-22390	637	8	at	at	ADP
inlawrev-22390	637	9	457	457	NUM
inlawrev-22390	637	10	,	,	PUNCT
inlawrev-22390	637	11	462	462	NUM
inlawrev-22390	637	12	.	.	NOUN
inlawrev-22390	637	13	257	257	NUM
inlawrev-22390	637	14	.	.	PUNCT
inlawrev-22390	638	1	see	see	VERB
inlawrev-22390	638	2	crowdfunding	crowdfunde	VERB
inlawrev-22390	638	3	80	80	NUM
inlawrev-22390	638	4	fed	feed	VERB
inlawrev-22390	638	5	.	.	PUNCT
inlawrev-22390	639	1	reg	reg	PROPN
inlawrev-22390	639	2	.	.	PUNCT
inlawrev-22390	640	1	at	at	ADP
inlawrev-22390	640	2	71,408	71,408	NUM
inlawrev-22390	640	3	.	.	PUNCT
inlawrev-22390	641	1	258	258	NUM
inlawrev-22390	641	2	.	.	NOUN
inlawrev-22390	641	3	17	17	NUM
inlawrev-22390	641	4	c.f.r	c.f.r	NOUN
inlawrev-22390	641	5	.	.	PUNCT
inlawrev-22390	642	1	§	§	PROPN
inlawrev-22390	642	2	227.201	227.201	NUM
inlawrev-22390	642	3	(	(	PUNCT
inlawrev-22390	642	4	2017	2017	NUM
inlawrev-22390	642	5	)	)	PUNCT
inlawrev-22390	642	6	.	.	PUNCT
inlawrev-22390	643	1	259	259	NUM
inlawrev-22390	643	2	.	.	X
inlawrev-22390	643	3	lager	lager	NOUN
inlawrev-22390	643	4	,	,	PUNCT
inlawrev-22390	643	5	supra	supra	ADJ
inlawrev-22390	643	6	note	note	NOUN
inlawrev-22390	643	7	60	60	NUM
inlawrev-22390	643	8	,	,	PUNCT
inlawrev-22390	643	9	at	at	ADP
inlawrev-22390	643	10	596	596	NUM
inlawrev-22390	643	11	-	-	SYM
inlawrev-22390	643	12	97	97	NUM
inlawrev-22390	643	13	.	.	NOUN
inlawrev-22390	643	14	260	260	NUM
inlawrev-22390	643	15	.	.	PUNCT
inlawrev-22390	644	1	isaacson	isaacson	PROPN
inlawrev-22390	644	2	,	,	PUNCT
inlawrev-22390	644	3	supra	supra	PROPN
inlawrev-22390	644	4	note	note	PROPN
inlawrev-22390	644	5	6	6	NUM
inlawrev-22390	644	6	,	,	PUNCT
inlawrev-22390	644	7	at	at	ADP
inlawrev-22390	644	8	456	456	NUM
inlawrev-22390	644	9	-	-	SYM
inlawrev-22390	644	10	57	57	NUM
inlawrev-22390	644	11	.	.	PUNCT
inlawrev-22390	644	12	261	261	NUM
inlawrev-22390	644	13	.	.	PUNCT
inlawrev-22390	645	1	vignone	vignone	PROPN
inlawrev-22390	645	2	,	,	PUNCT
inlawrev-22390	645	3	supra	supra	PROPN
inlawrev-22390	645	4	note	note	NOUN
inlawrev-22390	645	5	77	77	NUM
inlawrev-22390	645	6	,	,	PUNCT
inlawrev-22390	645	7	at	at	ADP
inlawrev-22390	645	8	813	813	NUM
inlawrev-22390	645	9	-	-	SYM
inlawrev-22390	645	10	14	14	NUM
inlawrev-22390	645	11	.	.	PUNCT
inlawrev-22390	646	1	262	262	NUM
inlawrev-22390	646	2	.	.	PUNCT
inlawrev-22390	647	1	i	i	PRON
inlawrev-22390	647	2	d.	d.	PROPN
inlawrev-22390	647	3	263	263	NUM
inlawrev-22390	647	4	.	.	PUNCT
inlawrev-22390	648	1	see	see	VERB
inlawrev-22390	648	2	crowdfunding	crowdfunde	VERB
inlawrev-22390	648	3	80	80	NUM
inlawrev-22390	648	4	fed	feed	VERB
inlawrev-22390	648	5	.	.	PUNCT
inlawrev-22390	649	1	reg	reg	PROPN
inlawrev-22390	649	2	.	.	PUNCT
inlawrev-22390	650	1	71,388	71,388	NUM
inlawrev-22390	650	2	,	,	PUNCT
inlawrev-22390	650	3	71,423	71,423	NUM
inlawrev-22390	650	4	(	(	PUNCT
inlawrev-22390	650	5	nov	nov	PROPN
inlawrev-22390	650	6	.	.	PROPN
inlawrev-22390	650	7	16	16	NUM
inlawrev-22390	650	8	,	,	PUNCT
inlawrev-22390	650	9	2015	2015	NUM
inlawrev-22390	650	10	)	)	PUNCT
inlawrev-22390	650	11	(	(	PUNCT
inlawrev-22390	650	12	noting	note	VERB
inlawrev-22390	650	13	that	that	SCONJ
inlawrev-22390	650	14	the	the	DET
inlawrev-22390	650	15	use	use	NOUN
inlawrev-22390	650	16	of	of	ADP
inlawrev-22390	650	17	one	one	NUM
inlawrev-22390	650	18	form	form	NOUN
inlawrev-22390	650	19	will	will	AUX
inlawrev-22390	650	20	be	be	AUX
inlawrev-22390	650	21	more	more	ADV
inlawrev-22390	650	22	efficient	efficient	ADJ
inlawrev-22390	650	23	,	,	PUNCT
inlawrev-22390	650	24	but	but	CCONJ
inlawrev-22390	650	25	approving	approve	VERB
inlawrev-22390	650	26	a	a	DET
inlawrev-22390	650	27	modified	modified	ADJ
inlawrev-22390	650	28	format	format	NOUN
inlawrev-22390	650	29	for	for	ADP
inlawrev-22390	650	30	completing	complete	VERB
inlawrev-22390	650	31	the	the	DET
inlawrev-22390	650	32	form	form	NOUN
inlawrev-22390	650	33	that	that	PRON
inlawrev-22390	650	34	is	be	AUX
inlawrev-22390	650	35	“	"	PUNCT
inlawrev-22390	650	36	less	less	ADV
inlawrev-22390	650	37	burdensome	burdensome	ADJ
inlawrev-22390	650	38	for	for	ADP
inlawrev-22390	650	39	small	small	ADJ
inlawrev-22390	650	40	issuers	issuer	NOUN
inlawrev-22390	650	41	while	while	SCONJ
inlawrev-22390	650	42	still	still	ADV
inlawrev-22390	650	43	providing	provide	VERB
inlawrev-22390	650	44	.	.	PUNCT
inlawrev-22390	650	45	.	.	PUNCT
inlawrev-22390	650	46	.	.	PUNCT
inlawrev-22390	651	1	the	the	DET
inlawrev-22390	651	2	required	require	VERB
inlawrev-22390	651	3	information	information	NOUN
inlawrev-22390	651	4	)	)	PUNCT
inlawrev-22390	651	5	.	.	PUNCT
inlawrev-22390	652	1	302	302	NUM
inlawrev-22390	652	2	indiana	indiana	PROPN
inlawrev-22390	652	3	law	law	PROPN
inlawrev-22390	652	4	review	review	NOUN
inlawrev-22390	652	5	[	[	X
inlawrev-22390	652	6	vol	vol	NOUN
inlawrev-22390	652	7	.	.	PUNCT
inlawrev-22390	653	1	51:277	51:277	NUM
inlawrev-22390	653	2	businesses.264	businesses.264	NOUN
inlawrev-22390	653	3	it	it	PRON
inlawrev-22390	653	4	will	will	AUX
inlawrev-22390	653	5	also	also	ADV
inlawrev-22390	653	6	leave	leave	VERB
inlawrev-22390	653	7	existing	exist	VERB
inlawrev-22390	653	8	disclosures	disclosure	NOUN
inlawrev-22390	653	9	in	in	ADP
inlawrev-22390	653	10	place	place	NOUN
inlawrev-22390	653	11	for	for	ADP
inlawrev-22390	653	12	businesses	business	NOUN
inlawrev-22390	653	13	choosing	choose	VERB
inlawrev-22390	653	14	to	to	PART
inlawrev-22390	653	15	offer	offer	VERB
inlawrev-22390	653	16	more	more	ADJ
inlawrev-22390	653	17	,	,	PUNCT
inlawrev-22390	653	18	thus	thus	ADV
inlawrev-22390	653	19	retaining	retain	VERB
inlawrev-22390	653	20	investor	investor	NOUN
inlawrev-22390	653	21	protection	protection	NOUN
inlawrev-22390	653	22	for	for	ADP
inlawrev-22390	653	23	the	the	DET
inlawrev-22390	653	24	higher	high	ADJ
inlawrev-22390	653	25	tiers.265	tiers.265	NOUN
inlawrev-22390	653	26	the	the	DET
inlawrev-22390	653	27	sec	sec	PROPN
inlawrev-22390	653	28	discussed	discuss	VERB
inlawrev-22390	653	29	the	the	DET
inlawrev-22390	653	30	substantial	substantial	ADJ
inlawrev-22390	653	31	risk	risk	NOUN
inlawrev-22390	653	32	of	of	ADP
inlawrev-22390	653	33	business	business	NOUN
inlawrev-22390	653	34	failure	failure	NOUN
inlawrev-22390	653	35	as	as	ADP
inlawrev-22390	653	36	a	a	DET
inlawrev-22390	653	37	justification	justification	NOUN
inlawrev-22390	653	38	for	for	ADP
inlawrev-22390	653	39	retaining	retain	VERB
inlawrev-22390	653	40	strict	strict	ADJ
inlawrev-22390	653	41	investment	investment	NOUN
inlawrev-22390	653	42	limits.266	limits.266	NOUN
inlawrev-22390	653	43	it	it	PRON
inlawrev-22390	653	44	received	receive	VERB
inlawrev-22390	653	45	comments	comment	NOUN
inlawrev-22390	653	46	expressing	express	VERB
inlawrev-22390	653	47	fears	fear	NOUN
inlawrev-22390	653	48	investors	investor	NOUN
inlawrev-22390	653	49	would	would	AUX
inlawrev-22390	653	50	sustain	sustain	VERB
inlawrev-22390	653	51	“	"	PUNCT
inlawrev-22390	653	52	unaffordable	unaffordable	ADJ
inlawrev-22390	653	53	losses	loss	NOUN
inlawrev-22390	653	54	,	,	PUNCT
inlawrev-22390	653	55	”	"	PUNCT
inlawrev-22390	653	56	and	and	CCONJ
inlawrev-22390	653	57	it	it	PRON
inlawrev-22390	653	58	found	find	VERB
inlawrev-22390	653	59	the	the	DET
inlawrev-22390	653	60	argument	argument	NOUN
inlawrev-22390	653	61	“	"	PUNCT
inlawrev-22390	653	62	persuasive	persuasive	ADJ
inlawrev-22390	653	63	.	.	PUNCT
inlawrev-22390	653	64	”267	”267	VERB
inlawrev-22390	653	65	seasoned	season	VERB
inlawrev-22390	653	66	businesses	business	NOUN
inlawrev-22390	653	67	do	do	AUX
inlawrev-22390	653	68	not	not	PART
inlawrev-22390	653	69	pose	pose	VERB
inlawrev-22390	653	70	this	this	DET
inlawrev-22390	653	71	kind	kind	NOUN
inlawrev-22390	653	72	of	of	ADP
inlawrev-22390	653	73	systemic	systemic	ADJ
inlawrev-22390	653	74	risk	risk	NOUN
inlawrev-22390	653	75	,	,	PUNCT
inlawrev-22390	653	76	even	even	ADV
inlawrev-22390	653	77	if	if	SCONJ
inlawrev-22390	653	78	they	they	PRON
inlawrev-22390	653	79	pose	pose	VERB
inlawrev-22390	653	80	some.268	some.268	PRON
inlawrev-22390	653	81	first	first	ADV
inlawrev-22390	653	82	,	,	PUNCT
inlawrev-22390	653	83	in	in	ADP
inlawrev-22390	653	84	the	the	DET
inlawrev-22390	653	85	lower	low	ADJ
inlawrev-22390	653	86	tier	tier	NOUN
inlawrev-22390	653	87	,	,	PUNCT
inlawrev-22390	653	88	the	the	DET
inlawrev-22390	653	89	somewhat	somewhat	ADV
inlawrev-22390	653	90	complicated	complicated	ADJ
inlawrev-22390	653	91	“	"	PUNCT
inlawrev-22390	653	92	greater	great	ADJ
inlawrev-22390	653	93	of	of	ADP
inlawrev-22390	653	94	”	"	PUNCT
inlawrev-22390	653	95	formula	formula	NOUN
inlawrev-22390	653	96	should	should	AUX
inlawrev-22390	653	97	be	be	AUX
inlawrev-22390	653	98	abandoned.269	abandoned.269	ADV
inlawrev-22390	653	99	it	it	PRON
inlawrev-22390	653	100	should	should	AUX
inlawrev-22390	653	101	simply	simply	ADV
inlawrev-22390	653	102	be	be	AUX
inlawrev-22390	653	103	a	a	DET
inlawrev-22390	653	104	fixed	fix	VERB
inlawrev-22390	653	105	amount	amount	NOUN
inlawrev-22390	653	106	based	base	VERB
inlawrev-22390	653	107	on	on	ADP
inlawrev-22390	653	108	annual	annual	ADJ
inlawrev-22390	653	109	income	income	NOUN
inlawrev-22390	653	110	.	.	PUNCT
inlawrev-22390	654	1	this	this	PRON
inlawrev-22390	654	2	should	should	AUX
inlawrev-22390	654	3	also	also	ADV
inlawrev-22390	654	4	simplify	simplify	VERB
inlawrev-22390	654	5	compliance	compliance	NOUN
inlawrev-22390	654	6	for	for	ADP
inlawrev-22390	654	7	the	the	DET
inlawrev-22390	654	8	portal	portal	NOUN
inlawrev-22390	654	9	and	and	CCONJ
inlawrev-22390	654	10	may	may	AUX
inlawrev-22390	654	11	lead	lead	VERB
inlawrev-22390	654	12	to	to	ADP
inlawrev-22390	654	13	additional	additional	ADJ
inlawrev-22390	654	14	reduced	reduce	VERB
inlawrev-22390	654	15	costs.270	costs.270	PROPN
inlawrev-22390	654	16	as	as	ADP
inlawrev-22390	654	17	a	a	DET
inlawrev-22390	654	18	starting	starting	NOUN
inlawrev-22390	654	19	point	point	NOUN
inlawrev-22390	654	20	for	for	ADP
inlawrev-22390	654	21	discussion	discussion	NOUN
inlawrev-22390	654	22	,	,	PUNCT
inlawrev-22390	654	23	$	$	SYM
inlawrev-22390	654	24	4,000	4,000	NUM
inlawrev-22390	654	25	seems	seem	VERB
inlawrev-22390	654	26	like	like	ADP
inlawrev-22390	654	27	a	a	DET
inlawrev-22390	654	28	reasonable	reasonable	ADJ
inlawrev-22390	654	29	limitation	limitation	NOUN
inlawrev-22390	654	30	for	for	ADP
inlawrev-22390	654	31	investors	investor	NOUN
inlawrev-22390	654	32	making	make	VERB
inlawrev-22390	654	33	up	up	ADP
inlawrev-22390	654	34	to	to	PART
inlawrev-22390	654	35	$	$	SYM
inlawrev-22390	654	36	100,000	100,000	NUM
inlawrev-22390	654	37	each	each	DET
inlawrev-22390	654	38	year.271	year.271	NOUN
inlawrev-22390	654	39	second	second	ADJ
inlawrev-22390	654	40	,	,	PUNCT
inlawrev-22390	654	41	for	for	ADP
inlawrev-22390	654	42	investors	investor	NOUN
inlawrev-22390	654	43	who	who	PRON
inlawrev-22390	654	44	earn	earn	VERB
inlawrev-22390	654	45	more	more	ADJ
inlawrev-22390	654	46	than	than	ADP
inlawrev-22390	654	47	$	$	SYM
inlawrev-22390	654	48	100,000	100,000	NUM
inlawrev-22390	654	49	per	per	ADP
inlawrev-22390	654	50	year	year	NOUN
inlawrev-22390	654	51	,	,	PUNCT
inlawrev-22390	654	52	the	the	DET
inlawrev-22390	654	53	new	new	ADJ
inlawrev-22390	654	54	statute	statute	NOUN
inlawrev-22390	654	55	should	should	AUX
inlawrev-22390	654	56	retain	retain	VERB
inlawrev-22390	654	57	the	the	DET
inlawrev-22390	654	58	10	10	NUM
inlawrev-22390	654	59	%	%	NOUN
inlawrev-22390	654	60	of	of	ADP
inlawrev-22390	654	61	annual	annual	ADJ
inlawrev-22390	654	62	income	income	NOUN
inlawrev-22390	654	63	figure	figure	NOUN
inlawrev-22390	654	64	,	,	PUNCT
inlawrev-22390	654	65	but	but	CCONJ
inlawrev-22390	654	66	once	once	ADV
inlawrev-22390	654	67	again	again	ADV
inlawrev-22390	654	68	lose	lose	VERB
inlawrev-22390	654	69	the	the	DET
inlawrev-22390	654	70	net	net	ADJ
inlawrev-22390	654	71	worth	worth	ADJ
inlawrev-22390	654	72	provision	provision	NOUN
inlawrev-22390	654	73	for	for	ADP
inlawrev-22390	654	74	simplicity.272	simplicity.272	PROPN
inlawrev-22390	654	75	congress	congress	PROPN
inlawrev-22390	654	76	should	should	AUX
inlawrev-22390	654	77	also	also	ADV
inlawrev-22390	654	78	add	add	VERB
inlawrev-22390	654	79	a	a	DET
inlawrev-22390	654	80	new	new	ADJ
inlawrev-22390	654	81	tier	tier	NOUN
inlawrev-22390	654	82	to	to	ADP
inlawrev-22390	654	83	the	the	DET
inlawrev-22390	654	84	investor	investor	NOUN
inlawrev-22390	654	85	limitations	limitation	NOUN
inlawrev-22390	654	86	for	for	ADP
inlawrev-22390	654	87	accredited	accredit	VERB
inlawrev-22390	654	88	investors.273	investors.273	PROPN
inlawrev-22390	654	89	accredited	accredited	ADJ
inlawrev-22390	654	90	investors	investor	NOUN
inlawrev-22390	654	91	can	can	AUX
inlawrev-22390	654	92	invest	invest	VERB
inlawrev-22390	654	93	tremendous	tremendous	ADJ
inlawrev-22390	654	94	amounts	amount	NOUN
inlawrev-22390	654	95	of	of	ADP
inlawrev-22390	654	96	money	money	NOUN
inlawrev-22390	654	97	in	in	ADP
inlawrev-22390	654	98	other	other	ADJ
inlawrev-22390	654	99	registration	registration	NOUN
inlawrev-22390	654	100	exemptions	exemption	NOUN
inlawrev-22390	654	101	,	,	PUNCT
inlawrev-22390	654	102	so	so	ADV
inlawrev-22390	654	103	why	why	SCONJ
inlawrev-22390	654	104	not	not	PART
inlawrev-22390	654	105	here?274	here?274	ADV
inlawrev-22390	654	106	so	so	ADV
inlawrev-22390	654	107	long	long	ADV
inlawrev-22390	654	108	as	as	SCONJ
inlawrev-22390	654	109	there	there	PRON
inlawrev-22390	654	110	is	be	VERB
inlawrev-22390	654	111	a	a	DET
inlawrev-22390	654	112	mechanism	mechanism	NOUN
inlawrev-22390	654	113	built	build	VERB
inlawrev-22390	654	114	in	in	ADP
inlawrev-22390	654	115	the	the	DET
inlawrev-22390	654	116	platform	platform	NOUN
inlawrev-22390	654	117	to	to	PART
inlawrev-22390	654	118	verify	verify	VERB
inlawrev-22390	654	119	the	the	DET
inlawrev-22390	654	120	investor	investor	NOUN
inlawrev-22390	654	121	meets	meet	VERB
inlawrev-22390	654	122	the	the	DET
inlawrev-22390	654	123	requirements	requirement	NOUN
inlawrev-22390	654	124	,	,	PUNCT
inlawrev-22390	654	125	it	it	PRON
inlawrev-22390	654	126	seems	seem	VERB
inlawrev-22390	654	127	logical	logical	ADJ
inlawrev-22390	654	128	that	that	SCONJ
inlawrev-22390	654	129	the	the	DET
inlawrev-22390	654	130	most	most	ADV
inlawrev-22390	654	131	sophisticated	sophisticated	ADJ
inlawrev-22390	654	132	investors	investor	NOUN
inlawrev-22390	654	133	should	should	AUX
inlawrev-22390	654	134	be	be	AUX
inlawrev-22390	654	135	able	able	ADJ
inlawrev-22390	654	136	to	to	PART
inlawrev-22390	654	137	bear	bear	VERB
inlawrev-22390	654	138	more	more	ADJ
inlawrev-22390	654	139	risk	risk	NOUN
inlawrev-22390	654	140	if	if	SCONJ
inlawrev-22390	654	141	they	they	PRON
inlawrev-22390	654	142	choose	choose	VERB
inlawrev-22390	654	143	to	to	PART
inlawrev-22390	654	144	do	do	VERB
inlawrev-22390	654	145	so.275	so.275	PROPN
inlawrev-22390	654	146	although	although	SCONJ
inlawrev-22390	654	147	accredited	accredit	VERB
inlawrev-22390	654	148	investors	investor	NOUN
inlawrev-22390	654	149	make	make	VERB
inlawrev-22390	654	150	up	up	ADP
inlawrev-22390	654	151	only	only	ADV
inlawrev-22390	654	152	about	about	ADV
inlawrev-22390	654	153	7	7	NUM
inlawrev-22390	654	154	%	%	NOUN
inlawrev-22390	654	155	of	of	ADP
inlawrev-22390	654	156	households	household	NOUN
inlawrev-22390	654	157	,	,	PUNCT
inlawrev-22390	654	158	they	they	PRON
inlawrev-22390	654	159	control	control	VERB
inlawrev-22390	654	160	70	70	NUM
inlawrev-22390	654	161	%	%	NOUN
inlawrev-22390	654	162	of	of	ADP
inlawrev-22390	654	163	the	the	DET
inlawrev-22390	654	164	available	available	ADJ
inlawrev-22390	654	165	investment	investment	NOUN
inlawrev-22390	654	166	capital.276	capital.276	NOUN
inlawrev-22390	654	167	the	the	DET
inlawrev-22390	654	168	sec	sec	PROPN
inlawrev-22390	654	169	received	receive	VERB
inlawrev-22390	654	170	numerous	numerous	ADJ
inlawrev-22390	654	171	comments	comment	NOUN
inlawrev-22390	654	172	about	about	ADP
inlawrev-22390	654	173	creating	create	VERB
inlawrev-22390	654	174	a	a	DET
inlawrev-22390	654	175	different	different	ADJ
inlawrev-22390	654	176	limit	limit	NOUN
inlawrev-22390	654	177	for	for	ADP
inlawrev-22390	654	178	accredited	accredited	ADJ
inlawrev-22390	654	179	investors	investor	NOUN
inlawrev-22390	654	180	,	,	PUNCT
inlawrev-22390	654	181	but	but	CCONJ
inlawrev-22390	654	182	in	in	ADP
inlawrev-22390	654	183	its	its	PRON
inlawrev-22390	654	184	discussion	discussion	NOUN
inlawrev-22390	654	185	of	of	ADP
inlawrev-22390	654	186	the	the	DET
inlawrev-22390	654	187	final	final	ADJ
inlawrev-22390	654	188	rules	rule	NOUN
inlawrev-22390	654	189	,	,	PUNCT
inlawrev-22390	654	190	it	it	PRON
inlawrev-22390	654	191	stated	state	VERB
inlawrev-22390	654	192	that	that	SCONJ
inlawrev-22390	654	193	the	the	DET
inlawrev-22390	654	194	language	language	NOUN
inlawrev-22390	654	195	of	of	ADP
inlawrev-22390	654	196	the	the	DET
inlawrev-22390	654	197	jobs	job	NOUN
inlawrev-22390	654	198	act	act	NOUN
inlawrev-22390	654	199	did	do	AUX
inlawrev-22390	654	200	not	not	PART
inlawrev-22390	654	201	grant	grant	VERB
inlawrev-22390	654	202	them	they	PRON
inlawrev-22390	654	203	the	the	DET
inlawrev-22390	654	204	authority	authority	NOUN
inlawrev-22390	654	205	to	to	PART
inlawrev-22390	654	206	create	create	VERB
inlawrev-22390	654	207	such	such	DET
inlawrev-22390	654	208	a	a	DET
inlawrev-22390	654	209	rule.277	rule.277	NOUN
inlawrev-22390	654	210	therefore	therefore	ADV
inlawrev-22390	654	211	,	,	PUNCT
inlawrev-22390	654	212	this	this	DET
inlawrev-22390	654	213	264	264	NUM
inlawrev-22390	654	214	.	.	PUNCT
inlawrev-22390	655	1	loan	loan	NOUN
inlawrev-22390	655	2	amounts	amount	NOUN
inlawrev-22390	655	3	,	,	PUNCT
inlawrev-22390	655	4	fees	fee	NOUN
inlawrev-22390	655	5	&	&	CCONJ
inlawrev-22390	655	6	interest	interest	NOUN
inlawrev-22390	655	7	rates	rate	NOUN
inlawrev-22390	655	8	,	,	PUNCT
inlawrev-22390	655	9	supra	supra	PROPN
inlawrev-22390	655	10	note	note	NOUN
inlawrev-22390	655	11	240	240	NUM
inlawrev-22390	655	12	.	.	X
inlawrev-22390	655	13	265	265	NUM
inlawrev-22390	655	14	.	.	PUNCT
inlawrev-22390	656	1	see	see	AUX
inlawrev-22390	656	2	generally	generally	ADV
inlawrev-22390	656	3	crowdfunding	crowdfunde	VERB
inlawrev-22390	656	4	80	80	NUM
inlawrev-22390	656	5	fed	feed	VERB
inlawrev-22390	656	6	.	.	PUNCT
inlawrev-22390	657	1	reg	reg	PROPN
inlawrev-22390	657	2	.	.	PUNCT
inlawrev-22390	658	1	at	at	ADP
inlawrev-22390	658	2	71,398	71,398	NUM
inlawrev-22390	658	3	-	-	SYM
inlawrev-22390	658	4	416	416	NUM
inlawrev-22390	658	5	.	.	PUNCT
inlawrev-22390	658	6	266	266	NUM
inlawrev-22390	658	7	.	.	PUNCT
inlawrev-22390	659	1	i	i	PRON
inlawrev-22390	659	2	d.	d.	PROPN
inlawrev-22390	659	3	at	at	ADP
inlawrev-22390	659	4	71,394	71,394	NUM
inlawrev-22390	659	5	.	.	PUNCT
inlawrev-22390	660	1	267	267	NUM
inlawrev-22390	660	2	.	.	PUNCT
inlawrev-22390	661	1	i	i	PRON
inlawrev-22390	661	2	d.	d.	PROPN
inlawrev-22390	661	3	268	268	NUM
inlawrev-22390	661	4	.	.	PUNCT
inlawrev-22390	662	1	see	see	VERB
inlawrev-22390	662	2	supra	supra	PROPN
inlawrev-22390	662	3	part	part	PROPN
inlawrev-22390	662	4	v.	v.	ADP
inlawrev-22390	662	5	269	269	NUM
inlawrev-22390	662	6	.	.	PUNCT
inlawrev-22390	663	1	crowdfunding	crowdfunde	VERB
inlawrev-22390	663	2	80	80	NUM
inlawrev-22390	663	3	fed	fed	PROPN
inlawrev-22390	663	4	.	.	PUNCT
inlawrev-22390	664	1	reg	reg	PROPN
inlawrev-22390	664	2	.	.	PUNCT
inlawrev-22390	665	1	at	at	ADP
inlawrev-22390	665	2	71,394	71,394	NUM
inlawrev-22390	665	3	.	.	PUNCT
inlawrev-22390	666	1	270	270	NUM
inlawrev-22390	666	2	.	.	PUNCT
inlawrev-22390	667	1	see	see	VERB
inlawrev-22390	667	2	lager	lager	NOUN
inlawrev-22390	667	3	,	,	PUNCT
inlawrev-22390	667	4	supra	supra	ADJ
inlawrev-22390	667	5	note	note	NOUN
inlawrev-22390	667	6	60	60	NUM
inlawrev-22390	667	7	,	,	PUNCT
inlawrev-22390	667	8	at	at	ADP
inlawrev-22390	667	9	588	588	NUM
inlawrev-22390	667	10	-	-	SYM
inlawrev-22390	667	11	90	90	NUM
inlawrev-22390	667	12	(	(	PUNCT
inlawrev-22390	667	13	arguing	argue	VERB
inlawrev-22390	667	14	that	that	SCONJ
inlawrev-22390	667	15	costs	cost	NOUN
inlawrev-22390	667	16	incurred	incur	VERB
inlawrev-22390	667	17	by	by	ADP
inlawrev-22390	667	18	the	the	DET
inlawrev-22390	667	19	platform	platform	NOUN
inlawrev-22390	667	20	will	will	AUX
inlawrev-22390	667	21	ultimately	ultimately	ADV
inlawrev-22390	667	22	be	be	AUX
inlawrev-22390	667	23	passed	pass	VERB
inlawrev-22390	667	24	on	on	ADP
inlawrev-22390	667	25	to	to	ADP
inlawrev-22390	667	26	the	the	DET
inlawrev-22390	667	27	issuer	issuer	NOUN
inlawrev-22390	667	28	)	)	PUNCT
inlawrev-22390	667	29	.	.	PUNCT
inlawrev-22390	668	1	271	271	NUM
inlawrev-22390	668	2	.	.	X
inlawrev-22390	669	1	see	see	VERB
inlawrev-22390	669	2	,	,	PUNCT
inlawrev-22390	669	3	e.g.	e.g.	ADV
inlawrev-22390	669	4	,	,	PUNCT
inlawrev-22390	669	5	pierce	pierce	PROPN
inlawrev-22390	669	6	-	-	PUNCT
inlawrev-22390	669	7	wright	wright	PROPN
inlawrev-22390	669	8	,	,	PUNCT
inlawrev-22390	669	9	supra	supra	PROPN
inlawrev-22390	669	10	note	note	PROPN
inlawrev-22390	669	11	56	56	NUM
inlawrev-22390	669	12	,	,	PUNCT
inlawrev-22390	669	13	at	at	ADP
inlawrev-22390	669	14	873	873	NUM
inlawrev-22390	669	15	(	(	PUNCT
inlawrev-22390	669	16	noting	note	VERB
inlawrev-22390	669	17	that	that	SCONJ
inlawrev-22390	669	18	indiana	indiana	PROPN
inlawrev-22390	669	19	allows	allow	VERB
inlawrev-22390	669	20	$	$	SYM
inlawrev-22390	669	21	5,000	5,000	NUM
inlawrev-22390	669	22	per	per	ADP
inlawrev-22390	669	23	unaccredited	unaccredited	ADJ
inlawrev-22390	669	24	investor	investor	NOUN
inlawrev-22390	669	25	per	per	ADP
inlawrev-22390	669	26	year	year	NOUN
inlawrev-22390	669	27	)	)	PUNCT
inlawrev-22390	669	28	.	.	PUNCT
inlawrev-22390	670	1	272	272	X
inlawrev-22390	670	2	.	.	PUNCT
inlawrev-22390	670	3	see	see	VERB
inlawrev-22390	670	4	crowdfunding	crowdfunde	VERB
inlawrev-22390	670	5	80	80	NUM
inlawrev-22390	670	6	fed	feed	VERB
inlawrev-22390	670	7	.	.	PUNCT
inlawrev-22390	671	1	reg	reg	PROPN
inlawrev-22390	671	2	.	.	PUNCT
inlawrev-22390	672	1	at	at	ADP
inlawrev-22390	672	2	71,394	71,394	NUM
inlawrev-22390	672	3	.	.	PUNCT
inlawrev-22390	672	4	273	273	NUM
inlawrev-22390	672	5	.	.	PUNCT
inlawrev-22390	673	1	see	see	VERB
inlawrev-22390	673	2	i	i	PRON
inlawrev-22390	673	3	d.	d.	PROPN
inlawrev-22390	673	4	at	at	ADP
inlawrev-22390	673	5	71,394	71,394	NUM
inlawrev-22390	673	6	-	-	SYM
inlawrev-22390	673	7	95	95	NUM
inlawrev-22390	673	8	.	.	PUNCT
inlawrev-22390	673	9	274	274	NUM
inlawrev-22390	673	10	.	.	PUNCT
inlawrev-22390	674	1	for	for	ADP
inlawrev-22390	674	2	example	example	NOUN
inlawrev-22390	674	3	,	,	PUNCT
inlawrev-22390	674	4	accredited	accredit	VERB
inlawrev-22390	674	5	investors	investor	NOUN
inlawrev-22390	674	6	can	can	AUX
inlawrev-22390	674	7	invest	invest	VERB
inlawrev-22390	674	8	unlimited	unlimited	ADJ
inlawrev-22390	674	9	amounts	amount	NOUN
inlawrev-22390	674	10	of	of	ADP
inlawrev-22390	674	11	money	money	NOUN
inlawrev-22390	674	12	in	in	ADP
inlawrev-22390	674	13	regulation	regulation	NOUN
inlawrev-22390	674	14	a	a	DET
inlawrev-22390	674	15	offerings	offering	NOUN
inlawrev-22390	674	16	,	,	PUNCT
inlawrev-22390	674	17	another	another	DET
inlawrev-22390	674	18	kind	kind	NOUN
inlawrev-22390	674	19	of	of	ADP
inlawrev-22390	674	20	exempted	exempt	VERB
inlawrev-22390	674	21	transaction	transaction	NOUN
inlawrev-22390	674	22	.	.	PUNCT
inlawrev-22390	675	1	see	see	VERB
inlawrev-22390	675	2	amendments	amendment	NOUN
inlawrev-22390	675	3	for	for	ADP
inlawrev-22390	675	4	small	small	ADJ
inlawrev-22390	675	5	and	and	CCONJ
inlawrev-22390	675	6	additional	additional	ADJ
inlawrev-22390	675	7	issues	issue	NOUN
inlawrev-22390	675	8	exemptions	exemption	NOUN
inlawrev-22390	675	9	under	under	ADP
inlawrev-22390	675	10	the	the	DET
inlawrev-22390	675	11	securities	security	NOUN
inlawrev-22390	675	12	act	act	NOUN
inlawrev-22390	675	13	(	(	PUNCT
inlawrev-22390	675	14	regulation	regulation	NOUN
inlawrev-22390	675	15	a	a	NOUN
inlawrev-22390	675	16	)	)	PUNCT
inlawrev-22390	675	17	,	,	PUNCT
inlawrev-22390	675	18	80	80	NUM
inlawrev-22390	675	19	fed	feed	VERB
inlawrev-22390	675	20	.	.	PUNCT
inlawrev-22390	676	1	reg	reg	PROPN
inlawrev-22390	676	2	.	.	PROPN
inlawrev-22390	676	3	21,806	21,806	NUM
inlawrev-22390	676	4	,	,	PUNCT
inlawrev-22390	676	5	21,816	21,816	NUM
inlawrev-22390	676	6	(	(	PUNCT
inlawrev-22390	676	7	apr	apr	PROPN
inlawrev-22390	676	8	.	.	PROPN
inlawrev-22390	676	9	20	20	NUM
inlawrev-22390	676	10	,	,	PUNCT
inlawrev-22390	676	11	2015	2015	NUM
inlawrev-22390	676	12	)	)	PUNCT
inlawrev-22390	676	13	.	.	PUNCT
inlawrev-22390	677	1	275	275	NUM
inlawrev-22390	677	2	.	.	PUNCT
inlawrev-22390	677	3	see	see	VERB
inlawrev-22390	677	4	i	i	PRON
inlawrev-22390	677	5	d.	d.	PROPN
inlawrev-22390	677	6	at	at	ADP
inlawrev-22390	677	7	21,816	21,816	NUM
inlawrev-22390	677	8	(	(	PUNCT
inlawrev-22390	677	9	“	"	PUNCT
inlawrev-22390	677	10	[	[	X
inlawrev-22390	677	11	i]nvestors	i]nvestor	NOUN
inlawrev-22390	677	12	that	that	PRON
inlawrev-22390	677	13	qualify	qualify	VERB
inlawrev-22390	677	14	as	as	SCONJ
inlawrev-22390	677	15	accredited	accredit	VERB
inlawrev-22390	677	16	under	under	ADP
inlawrev-22390	677	17	our	our	PRON
inlawrev-22390	677	18	rules	rule	NOUN
inlawrev-22390	677	19	satisfy	satisfy	VERB
inlawrev-22390	677	20	certain	certain	ADJ
inlawrev-22390	677	21	criteria	criterion	NOUN
inlawrev-22390	677	22	that	that	PRON
inlawrev-22390	677	23	suggest	suggest	VERB
inlawrev-22390	677	24	they	they	PRON
inlawrev-22390	677	25	are	be	AUX
inlawrev-22390	677	26	capable	capable	ADJ
inlawrev-22390	677	27	of	of	ADP
inlawrev-22390	677	28	protecting	protect	VERB
inlawrev-22390	677	29	themselves	themselves	PRON
inlawrev-22390	677	30	.	.	PUNCT
inlawrev-22390	677	31	.	.	PUNCT
inlawrev-22390	677	32	.	.	PUNCT
inlawrev-22390	677	33	.	.	PUNCT
inlawrev-22390	677	34	”	"	PUNCT
inlawrev-22390	677	35	)	)	PUNCT
inlawrev-22390	677	36	.	.	PUNCT
inlawrev-22390	678	1	276	276	X
inlawrev-22390	678	2	.	.	PUNCT
inlawrev-22390	679	1	hogan	hogan	PROPN
inlawrev-22390	679	2	,	,	PUNCT
inlawrev-22390	679	3	supra	supra	PROPN
inlawrev-22390	679	4	note	note	PROPN
inlawrev-22390	679	5	10	10	NUM
inlawrev-22390	679	6	,	,	PUNCT
inlawrev-22390	679	7	at	at	ADP
inlawrev-22390	679	8	1111	1111	NUM
inlawrev-22390	679	9	.	.	PUNCT
inlawrev-22390	680	1	277	277	NUM
inlawrev-22390	680	2	.	.	PUNCT
inlawrev-22390	681	1	crowdfunding	crowdfunde	VERB
inlawrev-22390	681	2	80	80	NUM
inlawrev-22390	681	3	fed	fed	PROPN
inlawrev-22390	681	4	.	.	PUNCT
inlawrev-22390	682	1	reg	reg	PROPN
inlawrev-22390	682	2	.	.	PUNCT
inlawrev-22390	683	1	at	at	ADP
inlawrev-22390	683	2	71,394	71,394	NUM
inlawrev-22390	683	3	-	-	SYM
inlawrev-22390	683	4	95	95	NUM
inlawrev-22390	683	5	.	.	PUNCT
inlawrev-22390	683	6	2018	2018	NUM
inlawrev-22390	683	7	]	]	PUNCT
inlawrev-22390	683	8	false	false	ADJ
inlawrev-22390	683	9	start	start	NOUN
inlawrev-22390	683	10	:	:	PUNCT
inlawrev-22390	683	11	carving	carve	VERB
inlawrev-22390	683	12	a	a	DET
inlawrev-22390	683	13	niche	niche	NOUN
inlawrev-22390	683	14	303	303	NUM
inlawrev-22390	683	15	type	type	NOUN
inlawrev-22390	683	16	of	of	ADP
inlawrev-22390	683	17	reform	reform	NOUN
inlawrev-22390	683	18	was	be	AUX
inlawrev-22390	683	19	already	already	ADV
inlawrev-22390	683	20	in	in	ADP
inlawrev-22390	683	21	the	the	DET
inlawrev-22390	683	22	contemplation	contemplation	NOUN
inlawrev-22390	683	23	of	of	ADP
inlawrev-22390	683	24	the	the	DET
inlawrev-22390	683	25	sec	sec	PROPN
inlawrev-22390	683	26	,	,	PUNCT
inlawrev-22390	683	27	but	but	CCONJ
inlawrev-22390	683	28	will	will	AUX
inlawrev-22390	683	29	require	require	VERB
inlawrev-22390	683	30	further	further	ADJ
inlawrev-22390	683	31	congressional	congressional	ADJ
inlawrev-22390	683	32	action.278	action.278	NOUN
inlawrev-22390	683	33	finally	finally	ADV
inlawrev-22390	683	34	,	,	PUNCT
inlawrev-22390	683	35	congress	congress	PROPN
inlawrev-22390	683	36	and	and	CCONJ
inlawrev-22390	683	37	the	the	DET
inlawrev-22390	683	38	sec	sec	PROPN
inlawrev-22390	683	39	should	should	AUX
inlawrev-22390	683	40	relax	relax	VERB
inlawrev-22390	683	41	the	the	DET
inlawrev-22390	683	42	rules	rule	NOUN
inlawrev-22390	683	43	on	on	ADP
inlawrev-22390	683	44	general	general	ADJ
inlawrev-22390	683	45	advertising	advertising	NOUN
inlawrev-22390	683	46	to	to	PART
inlawrev-22390	683	47	allow	allow	VERB
inlawrev-22390	683	48	a	a	DET
inlawrev-22390	683	49	broader	broad	ADJ
inlawrev-22390	683	50	use	use	NOUN
inlawrev-22390	683	51	of	of	ADP
inlawrev-22390	683	52	social	social	ADJ
inlawrev-22390	683	53	media	medium	NOUN
inlawrev-22390	683	54	in	in	ADP
inlawrev-22390	683	55	promoting	promote	VERB
inlawrev-22390	683	56	crowdfunding	crowdfunde	VERB
inlawrev-22390	683	57	offers.279	offers.279	NOUN
inlawrev-22390	683	58	the	the	DET
inlawrev-22390	683	59	most	most	ADV
inlawrev-22390	683	60	successful	successful	ADJ
inlawrev-22390	683	61	traditional	traditional	ADJ
inlawrev-22390	683	62	crowdfunding	crowdfunding	NOUN
inlawrev-22390	683	63	campaigns	campaign	NOUN
inlawrev-22390	683	64	highly	highly	ADV
inlawrev-22390	683	65	utilize	utilize	VERB
inlawrev-22390	683	66	social	social	ADJ
inlawrev-22390	683	67	media	medium	NOUN
inlawrev-22390	683	68	to	to	PART
inlawrev-22390	683	69	achieve	achieve	VERB
inlawrev-22390	683	70	success.280	success.280	NOUN
inlawrev-22390	683	71	at	at	ADP
inlawrev-22390	683	72	least	least	ADJ
inlawrev-22390	683	73	initially	initially	ADV
inlawrev-22390	683	74	,	,	PUNCT
inlawrev-22390	683	75	contributions	contribution	NOUN
inlawrev-22390	683	76	to	to	ADP
inlawrev-22390	683	77	crowdfunding	crowdfunding	NOUN
inlawrev-22390	683	78	campaigns	campaign	NOUN
inlawrev-22390	683	79	tend	tend	VERB
inlawrev-22390	683	80	to	to	PART
inlawrev-22390	683	81	stem	stem	VERB
inlawrev-22390	683	82	from	from	ADP
inlawrev-22390	683	83	the	the	DET
inlawrev-22390	683	84	campaigner	campaigner	NOUN
inlawrev-22390	683	85	’s	’s	PART
inlawrev-22390	683	86	family	family	NOUN
inlawrev-22390	683	87	and	and	CCONJ
inlawrev-22390	683	88	friends.281	friends.281	PROPN
inlawrev-22390	683	89	after	after	ADP
inlawrev-22390	683	90	this	this	DET
inlawrev-22390	683	91	initial	initial	ADJ
inlawrev-22390	683	92	,	,	PUNCT
inlawrev-22390	683	93	quick	quick	ADJ
inlawrev-22390	683	94	flow	flow	NOUN
inlawrev-22390	683	95	of	of	ADP
inlawrev-22390	683	96	investment	investment	NOUN
inlawrev-22390	683	97	largely	largely	ADV
inlawrev-22390	683	98	based	base	VERB
inlawrev-22390	683	99	on	on	ADP
inlawrev-22390	683	100	trust	trust	NOUN
inlawrev-22390	683	101	or	or	CCONJ
inlawrev-22390	683	102	personal	personal	ADJ
inlawrev-22390	683	103	connection	connection	NOUN
inlawrev-22390	683	104	to	to	ADP
inlawrev-22390	683	105	the	the	DET
inlawrev-22390	683	106	campaigner	campaigner	NOUN
inlawrev-22390	683	107	,	,	PUNCT
inlawrev-22390	683	108	larger	large	ADJ
inlawrev-22390	683	109	crowdfunding	crowdfunding	NOUN
inlawrev-22390	683	110	projects	project	NOUN
inlawrev-22390	683	111	must	must	AUX
inlawrev-22390	683	112	then	then	ADV
inlawrev-22390	683	113	seek	seek	VERB
inlawrev-22390	683	114	to	to	PART
inlawrev-22390	683	115	bring	bring	VERB
inlawrev-22390	683	116	in	in	ADP
inlawrev-22390	683	117	people	people	NOUN
inlawrev-22390	683	118	with	with	ADP
inlawrev-22390	683	119	no	no	DET
inlawrev-22390	683	120	original	original	ADJ
inlawrev-22390	683	121	connection	connection	NOUN
inlawrev-22390	683	122	to	to	ADP
inlawrev-22390	683	123	the	the	DET
inlawrev-22390	683	124	campaign.282	campaign.282	PROPN
inlawrev-22390	683	125	quantifiable	quantifiable	ADJ
inlawrev-22390	683	126	data	datum	NOUN
inlawrev-22390	683	127	exists	exist	VERB
inlawrev-22390	683	128	to	to	PART
inlawrev-22390	683	129	illustrate	illustrate	VERB
inlawrev-22390	683	130	the	the	DET
inlawrev-22390	683	131	connection	connection	NOUN
inlawrev-22390	683	132	between	between	ADP
inlawrev-22390	683	133	strong	strong	ADJ
inlawrev-22390	683	134	social	social	ADJ
inlawrev-22390	683	135	media	medium	NOUN
inlawrev-22390	683	136	campaigns	campaign	NOUN
inlawrev-22390	683	137	and	and	CCONJ
inlawrev-22390	683	138	crowdfunding	crowdfunde	VERB
inlawrev-22390	683	139	success	success	NOUN
inlawrev-22390	683	140	.	.	PUNCT
inlawrev-22390	684	1	for	for	ADP
inlawrev-22390	684	2	example	example	NOUN
inlawrev-22390	684	3	,	,	PUNCT
inlawrev-22390	684	4	one	one	NUM
inlawrev-22390	684	5	study	study	NOUN
inlawrev-22390	684	6	of	of	ADP
inlawrev-22390	684	7	crowdfunded	crowdfunde	VERB
inlawrev-22390	684	8	film	film	NOUN
inlawrev-22390	684	9	projects	project	NOUN
inlawrev-22390	684	10	found	find	VERB
inlawrev-22390	684	11	several	several	ADJ
inlawrev-22390	684	12	social	social	ADJ
inlawrev-22390	684	13	media	medium	NOUN
inlawrev-22390	684	14	trends	trend	NOUN
inlawrev-22390	684	15	that	that	PRON
inlawrev-22390	684	16	separate	separate	ADJ
inlawrev-22390	684	17	successful	successful	ADJ
inlawrev-22390	684	18	campaigns	campaign	NOUN
inlawrev-22390	684	19	(	(	PUNCT
inlawrev-22390	684	20	those	those	PRON
inlawrev-22390	684	21	that	that	PRON
inlawrev-22390	684	22	were	be	AUX
inlawrev-22390	684	23	fully	fully	ADV
inlawrev-22390	684	24	funded	fund	VERB
inlawrev-22390	684	25	)	)	PUNCT
inlawrev-22390	684	26	and	and	CCONJ
inlawrev-22390	684	27	failed	fail	VERB
inlawrev-22390	684	28	campaigns	campaign	NOUN
inlawrev-22390	684	29	(	(	PUNCT
inlawrev-22390	684	30	those	those	PRON
inlawrev-22390	684	31	that	that	PRON
inlawrev-22390	684	32	did	do	AUX
inlawrev-22390	684	33	not	not	PART
inlawrev-22390	684	34	meet	meet	VERB
inlawrev-22390	684	35	their	their	PRON
inlawrev-22390	684	36	funding	funding	NOUN
inlawrev-22390	684	37	goal).283	goal).283	NOUN
inlawrev-22390	684	38	the	the	DET
inlawrev-22390	684	39	average	average	ADJ
inlawrev-22390	684	40	number	number	NOUN
inlawrev-22390	684	41	of	of	ADP
inlawrev-22390	684	42	facebook	facebook	NOUN
inlawrev-22390	684	43	friends	friend	NOUN
inlawrev-22390	684	44	for	for	ADP
inlawrev-22390	684	45	the	the	DET
inlawrev-22390	684	46	person	person	NOUN
inlawrev-22390	684	47	launching	launch	VERB
inlawrev-22390	684	48	the	the	DET
inlawrev-22390	684	49	project	project	NOUN
inlawrev-22390	684	50	was	be	AUX
inlawrev-22390	684	51	529	529	NUM
inlawrev-22390	684	52	for	for	ADP
inlawrev-22390	684	53	successful	successful	ADJ
inlawrev-22390	684	54	campaigns	campaign	NOUN
inlawrev-22390	684	55	and	and	CCONJ
inlawrev-22390	684	56	381	381	NUM
inlawrev-22390	684	57	for	for	ADP
inlawrev-22390	684	58	unsuccessful	unsuccessful	ADJ
inlawrev-22390	684	59	campaigns.284	campaigns.284	PROPN
inlawrev-22390	684	60	the	the	DET
inlawrev-22390	684	61	direct	direct	ADJ
inlawrev-22390	684	62	network	network	NOUN
inlawrev-22390	684	63	size	size	NOUN
inlawrev-22390	684	64	,	,	PUNCT
inlawrev-22390	684	65	defined	define	VERB
inlawrev-22390	684	66	as	as	ADP
inlawrev-22390	684	67	the	the	DET
inlawrev-22390	684	68	“	"	PUNCT
inlawrev-22390	684	69	connections	connection	NOUN
inlawrev-22390	684	70	to	to	ADP
inlawrev-22390	684	71	the	the	DET
inlawrev-22390	684	72	campaigners	campaigner	NOUN
inlawrev-22390	684	73	and	and	CCONJ
inlawrev-22390	684	74	any	any	DET
inlawrev-22390	684	75	campaign	campaign	NOUN
inlawrev-22390	684	76	related	relate	VERB
inlawrev-22390	684	77	pages	page	NOUN
inlawrev-22390	684	78	on	on	ADP
inlawrev-22390	684	79	facebook	facebook	NOUN
inlawrev-22390	684	80	and	and	CCONJ
inlawrev-22390	684	81	twitter	twitter	NOUN
inlawrev-22390	684	82	,	,	PUNCT
inlawrev-22390	684	83	”	"	PUNCT
inlawrev-22390	684	84	was	be	AUX
inlawrev-22390	684	85	37,760	37,760	NUM
inlawrev-22390	684	86	for	for	ADP
inlawrev-22390	684	87	successful	successful	ADJ
inlawrev-22390	684	88	campaigns	campaign	NOUN
inlawrev-22390	684	89	and	and	CCONJ
inlawrev-22390	684	90	only	only	ADV
inlawrev-22390	684	91	2,627	2,627	NUM
inlawrev-22390	684	92	for	for	ADP
inlawrev-22390	684	93	unsuccessful	unsuccessful	ADJ
inlawrev-22390	684	94	campaigns.2	campaigns.2	NOUN
inlawrev-22390	684	95	85	85	NUM
inlawrev-22390	684	96	finally	finally	ADV
inlawrev-22390	684	97	,	,	PUNCT
inlawrev-22390	684	98	the	the	DET
inlawrev-22390	684	99	average	average	ADJ
inlawrev-22390	684	100	number	number	NOUN
inlawrev-22390	684	101	of	of	ADP
inlawrev-22390	684	102	facebook	facebook	NOUN
inlawrev-22390	684	103	shares	share	NOUN
inlawrev-22390	684	104	for	for	ADP
inlawrev-22390	684	105	the	the	DET
inlawrev-22390	684	106	duration	duration	NOUN
inlawrev-22390	684	107	of	of	ADP
inlawrev-22390	684	108	a	a	DET
inlawrev-22390	684	109	campaign	campaign	NOUN
inlawrev-22390	684	110	was	be	AUX
inlawrev-22390	684	111	655	655	NUM
inlawrev-22390	684	112	for	for	ADP
inlawrev-22390	684	113	successful	successful	ADJ
inlawrev-22390	684	114	projects	project	NOUN
inlawrev-22390	684	115	and	and	CCONJ
inlawrev-22390	684	116	only	only	ADV
inlawrev-22390	684	117	146	146	NUM
inlawrev-22390	684	118	for	for	ADP
inlawrev-22390	684	119	unsuccessful	unsuccessful	ADJ
inlawrev-22390	684	120	campaigns.286	campaigns.286	ADJ
inlawrev-22390	684	121	this	this	PRON
inlawrev-22390	684	122	is	be	AUX
inlawrev-22390	684	123	only	only	ADV
inlawrev-22390	684	124	a	a	DET
inlawrev-22390	684	125	small	small	ADJ
inlawrev-22390	684	126	sample	sample	NOUN
inlawrev-22390	684	127	,	,	PUNCT
inlawrev-22390	684	128	but	but	CCONJ
inlawrev-22390	684	129	it	it	PRON
inlawrev-22390	684	130	reinforces	reinforce	VERB
inlawrev-22390	684	131	the	the	DET
inlawrev-22390	684	132	conventional	conventional	ADJ
inlawrev-22390	684	133	wisdom	wisdom	NOUN
inlawrev-22390	684	134	of	of	ADP
inlawrev-22390	684	135	crowdfunding	crowdfunde	VERB
inlawrev-22390	684	136	experts	expert	NOUN
inlawrev-22390	684	137	that	that	PRON
inlawrev-22390	684	138	social	social	ADJ
inlawrev-22390	684	139	media	media	NOUN
inlawrev-22390	684	140	is	be	AUX
inlawrev-22390	684	141	a	a	DET
inlawrev-22390	684	142	key	key	ADJ
inlawrev-22390	684	143	component	component	NOUN
inlawrev-22390	684	144	of	of	ADP
inlawrev-22390	684	145	success	success	NOUN
inlawrev-22390	684	146	and	and	CCONJ
inlawrev-22390	684	147	that	that	SCONJ
inlawrev-22390	684	148	“	"	PUNCT
inlawrev-22390	684	149	[	[	X
inlawrev-22390	684	150	c]rowds	c]rowd	NOUN
inlawrev-22390	684	151	can	can	AUX
inlawrev-22390	684	152	not	not	PART
inlawrev-22390	684	153	simply	simply	ADV
inlawrev-22390	684	154	be	be	AUX
inlawrev-22390	684	155	expected	expect	VERB
inlawrev-22390	684	156	to	to	PART
inlawrev-22390	684	157	pick	pick	VERB
inlawrev-22390	684	158	up	up	ADP
inlawrev-22390	684	159	on	on	ADP
inlawrev-22390	684	160	good	good	ADJ
inlawrev-22390	684	161	ideas	idea	NOUN
inlawrev-22390	684	162	on	on	ADP
inlawrev-22390	684	163	their	their	PRON
inlawrev-22390	684	164	own	own	ADJ
inlawrev-22390	684	165	.	.	PUNCT
inlawrev-22390	684	166	”287	”287	NOUN
inlawrev-22390	685	1	although	although	SCONJ
inlawrev-22390	685	2	issuers	issuer	NOUN
inlawrev-22390	685	3	are	be	AUX
inlawrev-22390	685	4	allowed	allow	VERB
inlawrev-22390	685	5	to	to	PART
inlawrev-22390	685	6	advertise	advertise	VERB
inlawrev-22390	685	7	on	on	ADP
inlawrev-22390	685	8	social	social	ADJ
inlawrev-22390	685	9	media	medium	NOUN
inlawrev-22390	685	10	under	under	ADP
inlawrev-22390	685	11	the	the	DET
inlawrev-22390	685	12	regulation	regulation	NOUN
inlawrev-22390	685	13	crowdfunding	crowdfunding	NOUN
inlawrev-22390	685	14	rules	rule	NOUN
inlawrev-22390	685	15	,	,	PUNCT
inlawrev-22390	685	16	they	they	PRON
inlawrev-22390	685	17	are	be	AUX
inlawrev-22390	685	18	not	not	PART
inlawrev-22390	685	19	currently	currently	ADV
inlawrev-22390	685	20	permitted	permit	VERB
inlawrev-22390	685	21	to	to	PART
inlawrev-22390	685	22	use	use	VERB
inlawrev-22390	685	23	the	the	DET
inlawrev-22390	685	24	full	full	ADJ
inlawrev-22390	685	25	range	range	NOUN
inlawrev-22390	685	26	of	of	ADP
inlawrev-22390	685	27	social	social	ADJ
inlawrev-22390	685	28	media	medium	NOUN
inlawrev-22390	685	29	tools	tool	NOUN
inlawrev-22390	685	30	available.288	available.288	ADJ
inlawrev-22390	685	31	because	because	SCONJ
inlawrev-22390	685	32	they	they	PRON
inlawrev-22390	685	33	can	can	AUX
inlawrev-22390	685	34	only	only	ADV
inlawrev-22390	685	35	contact	contact	VERB
inlawrev-22390	685	36	potential	potential	ADJ
inlawrev-22390	685	37	investors	investor	NOUN
inlawrev-22390	685	38	individually	individually	ADV
inlawrev-22390	685	39	through	through	ADP
inlawrev-22390	685	40	channels	channel	NOUN
inlawrev-22390	685	41	created	create	VERB
inlawrev-22390	685	42	by	by	ADP
inlawrev-22390	685	43	the	the	DET
inlawrev-22390	685	44	crowdfunding	crowdfunding	NOUN
inlawrev-22390	685	45	platform	platform	NOUN
inlawrev-22390	685	46	,	,	PUNCT
inlawrev-22390	685	47	issuers	issuer	NOUN
inlawrev-22390	685	48	will	will	AUX
inlawrev-22390	685	49	be	be	AUX
inlawrev-22390	685	50	unable	unable	ADJ
inlawrev-22390	685	51	to	to	PART
inlawrev-22390	685	52	respond	respond	VERB
inlawrev-22390	685	53	to	to	ADP
inlawrev-22390	685	54	direct	direct	ADJ
inlawrev-22390	685	55	interactions	interaction	NOUN
inlawrev-22390	685	56	with	with	ADP
inlawrev-22390	685	57	potential	potential	ADJ
inlawrev-22390	685	58	investors	investor	NOUN
inlawrev-22390	685	59	on	on	ADP
inlawrev-22390	685	60	social	social	ADJ
inlawrev-22390	685	61	media	medium	NOUN
inlawrev-22390	685	62	(	(	PUNCT
inlawrev-22390	685	63	or	or	CCONJ
inlawrev-22390	685	64	even	even	ADV
inlawrev-22390	685	65	e	e	NOUN
inlawrev-22390	685	66	-	-	NOUN
inlawrev-22390	685	67	mail	mail	NOUN
inlawrev-22390	685	68	)	)	PUNCT
inlawrev-22390	685	69	regarding	regard	VERB
inlawrev-22390	685	70	the	the	DET
inlawrev-22390	685	71	offering.289	offering.289	ADJ
inlawrev-22390	685	72	traditional	traditional	ADJ
inlawrev-22390	685	73	crowdfunding	crowdfunde	VERB
inlawrev-22390	685	74	278	278	NUM
inlawrev-22390	685	75	.	.	PUNCT
inlawrev-22390	686	1	i	i	PRON
inlawrev-22390	686	2	d.	d.	PROPN
inlawrev-22390	686	3	279	279	NUM
inlawrev-22390	686	4	.	.	PUNCT
inlawrev-22390	687	1	see	see	VERB
inlawrev-22390	687	2	rogers	roger	NOUN
inlawrev-22390	687	3	,	,	PUNCT
inlawrev-22390	687	4	supra	supra	PROPN
inlawrev-22390	687	5	note	note	NOUN
inlawrev-22390	687	6	3	3	NUM
inlawrev-22390	687	7	,	,	PUNCT
inlawrev-22390	687	8	at	at	ADP
inlawrev-22390	687	9	372	372	NUM
inlawrev-22390	687	10	.	.	NOUN
inlawrev-22390	687	11	280	280	NUM
inlawrev-22390	687	12	.	.	PUNCT
inlawrev-22390	688	1	john	john	PROPN
inlawrev-22390	688	2	boitnott	boitnott	PROPN
inlawrev-22390	688	3	,	,	PUNCT
inlawrev-22390	688	4	5	5	NUM
inlawrev-22390	688	5	secrets	secret	NOUN
inlawrev-22390	688	6	of	of	ADP
inlawrev-22390	688	7	successful	successful	ADJ
inlawrev-22390	688	8	crowdfunding	crowdfunding	NOUN
inlawrev-22390	688	9	campaigns	campaign	NOUN
inlawrev-22390	688	10	,	,	PUNCT
inlawrev-22390	688	11	inc.com	inc.com	NUM
inlawrev-22390	688	12	,	,	PUNCT
inlawrev-22390	688	13	(	(	PUNCT
inlawrev-22390	688	14	mar	mar	PROPN
inlawrev-22390	688	15	.	.	PROPN
inlawrev-22390	688	16	5	5	NUM
inlawrev-22390	688	17	,	,	PUNCT
inlawrev-22390	688	18	2015	2015	NUM
inlawrev-22390	688	19	)	)	PUNCT
inlawrev-22390	688	20	,	,	PUNCT
inlawrev-22390	688	21	http://www.inc.com/john-boitnott/5-secrets-of-successful-crowdfunding-campaigns.html	http://www.inc.com/john-boitnott/5-secrets-of-successful-crowdfunding-campaigns.html	PROPN
inlawrev-22390	689	1	[	[	X
inlawrev-22390	689	2	https://perma.cc/4as4-el9x	https://perma.cc/4as4-el9x	NOUN
inlawrev-22390	689	3	]	]	X
inlawrev-22390	689	4	.	.	PUNCT
inlawrev-22390	690	1	281	281	NUM
inlawrev-22390	690	2	.	.	PUNCT
inlawrev-22390	691	1	hobbs	hobbs	PROPN
inlawrev-22390	691	2	et	et	PROPN
inlawrev-22390	691	3	al	al	PROPN
inlawrev-22390	691	4	.	.	PROPN
inlawrev-22390	691	5	,	,	PUNCT
inlawrev-22390	691	6	supra	supra	PROPN
inlawrev-22390	691	7	note	note	PROPN
inlawrev-22390	691	8	34	34	NUM
inlawrev-22390	691	9	,	,	PUNCT
inlawrev-22390	691	10	at	at	ADP
inlawrev-22390	691	11	148	148	NUM
inlawrev-22390	691	12	.	.	PUNCT
inlawrev-22390	692	1	282	282	NUM
inlawrev-22390	692	2	.	.	PUNCT
inlawrev-22390	693	1	i	i	PRON
inlawrev-22390	693	2	d.	d.	PROPN
inlawrev-22390	693	3	at	at	ADP
inlawrev-22390	693	4	148	148	NUM
inlawrev-22390	693	5	-	-	SYM
inlawrev-22390	693	6	49	49	NUM
inlawrev-22390	693	7	.	.	PUNCT
inlawrev-22390	694	1	283	283	NUM
inlawrev-22390	694	2	.	.	PUNCT
inlawrev-22390	695	1	i	i	PRON
inlawrev-22390	695	2	d.	d.	PROPN
inlawrev-22390	695	3	at	at	ADP
inlawrev-22390	695	4	155	155	NUM
inlawrev-22390	695	5	-	-	SYM
inlawrev-22390	695	6	56	56	NUM
inlawrev-22390	695	7	.	.	NOUN
inlawrev-22390	695	8	284	284	NUM
inlawrev-22390	695	9	.	.	PUNCT
inlawrev-22390	696	1	i	i	PRON
inlawrev-22390	696	2	d.	d.	PROPN
inlawrev-22390	696	3	at	at	ADP
inlawrev-22390	696	4	154	154	NUM
inlawrev-22390	696	5	.	.	PUNCT
inlawrev-22390	696	6	285	285	NUM
inlawrev-22390	696	7	.	.	PUNCT
inlawrev-22390	697	1	i	i	PRON
inlawrev-22390	697	2	d.	d.	PROPN
inlawrev-22390	697	3	at	at	ADP
inlawrev-22390	697	4	153	153	NUM
inlawrev-22390	697	5	-	-	SYM
inlawrev-22390	697	6	54	54	NUM
inlawrev-22390	697	7	.	.	PUNCT
inlawrev-22390	698	1	286	286	NUM
inlawrev-22390	698	2	.	.	PUNCT
inlawrev-22390	699	1	i	i	PRON
inlawrev-22390	699	2	d.	d.	PROPN
inlawrev-22390	699	3	at	at	ADP
inlawrev-22390	699	4	154	154	NUM
inlawrev-22390	699	5	.	.	PUNCT
inlawrev-22390	699	6	287	287	NUM
inlawrev-22390	699	7	.	.	PUNCT
inlawrev-22390	700	1	i	i	PRON
inlawrev-22390	700	2	d.	d.	PROPN
inlawrev-22390	700	3	at	at	ADP
inlawrev-22390	700	4	150	150	NUM
inlawrev-22390	700	5	.	.	PUNCT
inlawrev-22390	701	1	288	288	NUM
inlawrev-22390	701	2	.	.	PUNCT
inlawrev-22390	702	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	702	2	,	,	PUNCT
inlawrev-22390	702	3	80	80	NUM
inlawrev-22390	702	4	fed	feed	VERB
inlawrev-22390	702	5	.	.	PUNCT
inlawrev-22390	703	1	reg	reg	PROPN
inlawrev-22390	703	2	.	.	PUNCT
inlawrev-22390	704	1	71,388	71,388	NUM
inlawrev-22390	704	2	,	,	PUNCT
inlawrev-22390	704	3	71,425	71,425	NUM
inlawrev-22390	704	4	(	(	PUNCT
inlawrev-22390	704	5	nov	nov	PROPN
inlawrev-22390	704	6	.	.	PROPN
inlawrev-22390	704	7	16	16	NUM
inlawrev-22390	704	8	,	,	PUNCT
inlawrev-22390	704	9	2015	2015	NUM
inlawrev-22390	704	10	)	)	PUNCT
inlawrev-22390	704	11	.	.	PUNCT
inlawrev-22390	705	1	289	289	NUM
inlawrev-22390	705	2	.	.	PUNCT
inlawrev-22390	706	1	isaacson	isaacson	PROPN
inlawrev-22390	706	2	,	,	PUNCT
inlawrev-22390	706	3	supra	supra	PROPN
inlawrev-22390	706	4	note	note	PROPN
inlawrev-22390	706	5	6	6	NUM
inlawrev-22390	706	6	,	,	PUNCT
inlawrev-22390	706	7	at	at	ADP
inlawrev-22390	706	8	453	453	NUM
inlawrev-22390	706	9	(	(	PUNCT
inlawrev-22390	706	10	referring	refer	VERB
inlawrev-22390	706	11	to	to	ADP
inlawrev-22390	706	12	crowdfunding	crowdfunding	NOUN
inlawrev-22390	706	13	platforms	platform	NOUN
inlawrev-22390	706	14	)	)	PUNCT
inlawrev-22390	706	15	.	.	PUNCT
inlawrev-22390	707	1	304	304	NUM
inlawrev-22390	707	2	indiana	indiana	PROPN
inlawrev-22390	707	3	law	law	PROPN
inlawrev-22390	707	4	review	review	NOUN
inlawrev-22390	707	5	[	[	X
inlawrev-22390	707	6	vol	vol	NOUN
inlawrev-22390	707	7	.	.	PUNCT
inlawrev-22390	708	1	51:277	51:277	NUM
inlawrev-22390	708	2	projects	project	NOUN
inlawrev-22390	708	3	that	that	PRON
inlawrev-22390	708	4	reach	reach	VERB
inlawrev-22390	708	5	25	25	NUM
inlawrev-22390	708	6	%	%	NOUN
inlawrev-22390	708	7	of	of	ADP
inlawrev-22390	708	8	their	their	PRON
inlawrev-22390	708	9	funding	funding	NOUN
inlawrev-22390	708	10	goal	goal	NOUN
inlawrev-22390	708	11	in	in	ADP
inlawrev-22390	708	12	the	the	DET
inlawrev-22390	708	13	first	first	ADJ
inlawrev-22390	708	14	week	week	NOUN
inlawrev-22390	708	15	,	,	PUNCT
inlawrev-22390	708	16	typically	typically	ADV
inlawrev-22390	708	17	from	from	ADP
inlawrev-22390	708	18	friends	friend	NOUN
inlawrev-22390	708	19	and	and	CCONJ
inlawrev-22390	708	20	family	family	NOUN
inlawrev-22390	708	21	,	,	PUNCT
inlawrev-22390	708	22	are	be	AUX
inlawrev-22390	708	23	five	five	NUM
inlawrev-22390	708	24	times	time	NOUN
inlawrev-22390	708	25	more	more	ADV
inlawrev-22390	708	26	likely	likely	ADJ
inlawrev-22390	708	27	to	to	PART
inlawrev-22390	708	28	be	be	AUX
inlawrev-22390	708	29	fully	fully	ADV
inlawrev-22390	708	30	funded.290	funded.290	VERB
inlawrev-22390	708	31	conclusion	conclusion	NOUN
inlawrev-22390	708	32	there	there	PRON
inlawrev-22390	708	33	are	be	VERB
inlawrev-22390	708	34	legitimate	legitimate	ADJ
inlawrev-22390	708	35	complaints	complaint	NOUN
inlawrev-22390	708	36	about	about	ADP
inlawrev-22390	708	37	the	the	DET
inlawrev-22390	708	38	existing	exist	VERB
inlawrev-22390	708	39	rules	rule	NOUN
inlawrev-22390	708	40	for	for	ADP
inlawrev-22390	708	41	regulation	regulation	NOUN
inlawrev-22390	708	42	crowdfunding.291	crowdfunding.291	NOUN
inlawrev-22390	708	43	neither	neither	DET
inlawrev-22390	708	44	side	side	NOUN
inlawrev-22390	708	45	is	be	AUX
inlawrev-22390	708	46	necessarily	necessarily	ADV
inlawrev-22390	708	47	wrong	wrong	ADJ
inlawrev-22390	708	48	;	;	PUNCT
inlawrev-22390	708	49	the	the	DET
inlawrev-22390	708	50	deregulation	deregulation	NOUN
inlawrev-22390	708	51	and	and	CCONJ
inlawrev-22390	708	52	investor	investor	NOUN
inlawrev-22390	708	53	protection	protection	NOUN
inlawrev-22390	708	54	arguments	argument	NOUN
inlawrev-22390	708	55	both	both	PRON
inlawrev-22390	708	56	have	have	VERB
inlawrev-22390	708	57	merit	merit	NOUN
inlawrev-22390	708	58	;	;	PUNCT
inlawrev-22390	708	59	it	it	PRON
inlawrev-22390	708	60	is	be	AUX
inlawrev-22390	708	61	sometimes	sometimes	ADV
inlawrev-22390	708	62	too	too	ADV
inlawrev-22390	708	63	costly	costly	ADJ
inlawrev-22390	708	64	,	,	PUNCT
inlawrev-22390	708	65	and	and	CCONJ
inlawrev-22390	708	66	there	there	PRON
inlawrev-22390	708	67	may	may	AUX
inlawrev-22390	708	68	not	not	PART
inlawrev-22390	708	69	be	be	AUX
inlawrev-22390	708	70	enough	enough	ADJ
inlawrev-22390	708	71	investor	investor	NOUN
inlawrev-22390	708	72	protections	protection	NOUN
inlawrev-22390	708	73	in	in	ADP
inlawrev-22390	708	74	all	all	DET
inlawrev-22390	708	75	cases.292	cases.292	NOUN
inlawrev-22390	708	76	guided	guide	VERB
inlawrev-22390	708	77	by	by	ADP
inlawrev-22390	708	78	eighty	eighty	NUM
inlawrev-22390	708	79	years	year	NOUN
inlawrev-22390	708	80	of	of	ADP
inlawrev-22390	708	81	precedent	precedent	NOUN
inlawrev-22390	708	82	,	,	PUNCT
inlawrev-22390	708	83	securities	security	NOUN
inlawrev-22390	708	84	regulations	regulation	NOUN
inlawrev-22390	708	85	in	in	ADP
inlawrev-22390	708	86	the	the	DET
inlawrev-22390	708	87	united	united	PROPN
inlawrev-22390	708	88	states	states	PROPN
inlawrev-22390	708	89	are	be	AUX
inlawrev-22390	708	90	a	a	DET
inlawrev-22390	708	91	balancing	balance	VERB
inlawrev-22390	708	92	act	act	NOUN
inlawrev-22390	708	93	between	between	ADP
inlawrev-22390	708	94	investor	investor	NOUN
inlawrev-22390	708	95	protections	protection	NOUN
inlawrev-22390	708	96	and	and	CCONJ
inlawrev-22390	708	97	the	the	DET
inlawrev-22390	708	98	capital	capital	NOUN
inlawrev-22390	708	99	needs	need	NOUN
inlawrev-22390	708	100	of	of	ADP
inlawrev-22390	708	101	businesses.293	businesses.293	NOUN
inlawrev-22390	708	102	creating	create	VERB
inlawrev-22390	708	103	a	a	DET
inlawrev-22390	708	104	new	new	ADJ
inlawrev-22390	708	105	regulation	regulation	NOUN
inlawrev-22390	708	106	for	for	ADP
inlawrev-22390	708	107	seasoned	seasoned	ADJ
inlawrev-22390	708	108	businesses	business	NOUN
inlawrev-22390	708	109	will	will	AUX
inlawrev-22390	708	110	attempt	attempt	VERB
inlawrev-22390	708	111	to	to	PART
inlawrev-22390	708	112	address	address	VERB
inlawrev-22390	708	113	some	some	PRON
inlawrev-22390	708	114	of	of	ADP
inlawrev-22390	708	115	the	the	DET
inlawrev-22390	708	116	more	more	ADV
inlawrev-22390	708	117	prominent	prominent	ADJ
inlawrev-22390	708	118	issues	issue	NOUN
inlawrev-22390	708	119	with	with	ADP
inlawrev-22390	708	120	the	the	DET
inlawrev-22390	708	121	law	law	NOUN
inlawrev-22390	708	122	while	while	SCONJ
inlawrev-22390	708	123	maintaining	maintain	VERB
inlawrev-22390	708	124	this	this	DET
inlawrev-22390	708	125	balance.294	balance.294	NOUN
inlawrev-22390	708	126	it	it	PRON
inlawrev-22390	708	127	will	will	AUX
inlawrev-22390	708	128	not	not	PART
inlawrev-22390	708	129	eliminate	eliminate	VERB
inlawrev-22390	708	130	every	every	DET
inlawrev-22390	708	131	concern	concern	NOUN
inlawrev-22390	708	132	,	,	PUNCT
inlawrev-22390	708	133	nor	nor	CCONJ
inlawrev-22390	708	134	will	will	AUX
inlawrev-22390	708	135	it	it	PRON
inlawrev-22390	708	136	stop	stop	VERB
inlawrev-22390	708	137	all	all	DET
inlawrev-22390	708	138	people	people	NOUN
inlawrev-22390	708	139	from	from	ADP
inlawrev-22390	708	140	losing	lose	VERB
inlawrev-22390	708	141	money,295	money,295	PROPN
inlawrev-22390	708	142	but	but	CCONJ
inlawrev-22390	708	143	it	it	PRON
inlawrev-22390	708	144	might	might	AUX
inlawrev-22390	708	145	allow	allow	VERB
inlawrev-22390	708	146	the	the	DET
inlawrev-22390	708	147	crowdfunding	crowdfunding	NOUN
inlawrev-22390	708	148	exemption	exemption	NOUN
inlawrev-22390	708	149	to	to	PART
inlawrev-22390	708	150	be	be	AUX
inlawrev-22390	708	151	used	use	VERB
inlawrev-22390	708	152	more	more	ADV
inlawrev-22390	708	153	frequently	frequently	ADV
inlawrev-22390	708	154	and	and	CCONJ
inlawrev-22390	708	155	with	with	ADP
inlawrev-22390	708	156	more	more	ADJ
inlawrev-22390	708	157	success.296	success.296	NOUN
inlawrev-22390	708	158	the	the	DET
inlawrev-22390	708	159	sec	sec	PROPN
inlawrev-22390	708	160	adopted	adopt	VERB
inlawrev-22390	708	161	rules	rule	NOUN
inlawrev-22390	708	162	for	for	ADP
inlawrev-22390	708	163	regulation	regulation	NOUN
inlawrev-22390	708	164	crowdfunding	crowdfunding	NOUN
inlawrev-22390	708	165	while	while	SCONJ
inlawrev-22390	708	166	acknowledging	acknowledge	VERB
inlawrev-22390	708	167	the	the	DET
inlawrev-22390	708	168	likelihood	likelihood	NOUN
inlawrev-22390	708	169	of	of	ADP
inlawrev-22390	708	170	an	an	DET
inlawrev-22390	708	171	extremely	extremely	ADV
inlawrev-22390	708	172	high	high	ADJ
inlawrev-22390	708	173	failure	failure	NOUN
inlawrev-22390	708	174	rate	rate	NOUN
inlawrev-22390	708	175	and	and	CCONJ
inlawrev-22390	708	176	little	little	ADJ
inlawrev-22390	708	177	promise	promise	NOUN
inlawrev-22390	708	178	for	for	ADP
inlawrev-22390	708	179	large	large	ADJ
inlawrev-22390	708	180	rewards.297	rewards.297	NOUN
inlawrev-22390	708	181	funding	funding	NOUN
inlawrev-22390	708	182	seasoned	season	VERB
inlawrev-22390	708	183	businesses	business	NOUN
inlawrev-22390	708	184	may	may	AUX
inlawrev-22390	708	185	not	not	PART
inlawrev-22390	708	186	present	present	VERB
inlawrev-22390	708	187	many	many	ADJ
inlawrev-22390	708	188	high	high	ADJ
inlawrev-22390	708	189	yield	yield	NOUN
inlawrev-22390	708	190	investment	investment	NOUN
inlawrev-22390	708	191	opportunities	opportunity	NOUN
inlawrev-22390	708	192	,	,	PUNCT
inlawrev-22390	708	193	but	but	CCONJ
inlawrev-22390	708	194	it	it	PRON
inlawrev-22390	708	195	might	might	AUX
inlawrev-22390	708	196	create	create	VERB
inlawrev-22390	708	197	an	an	DET
inlawrev-22390	708	198	influx	influx	NOUN
inlawrev-22390	708	199	of	of	ADP
inlawrev-22390	708	200	capital	capital	NOUN
inlawrev-22390	708	201	to	to	ADP
inlawrev-22390	708	202	a	a	DET
inlawrev-22390	708	203	large	large	ADJ
inlawrev-22390	708	204	sector	sector	NOUN
inlawrev-22390	708	205	of	of	ADP
inlawrev-22390	708	206	the	the	DET
inlawrev-22390	708	207	economy	economy	NOUN
inlawrev-22390	708	208	while	while	SCONJ
inlawrev-22390	708	209	providing	provide	VERB
inlawrev-22390	708	210	modest	modest	ADJ
inlawrev-22390	708	211	financial	financial	ADJ
inlawrev-22390	708	212	returns	return	NOUN
inlawrev-22390	708	213	for	for	ADP
inlawrev-22390	708	214	many	many	ADJ
inlawrev-22390	708	215	investors.298	investors.298	NOUN
inlawrev-22390	708	216	290	290	NUM
inlawrev-22390	708	217	.	.	PUNCT
inlawrev-22390	709	1	robb	robb	PROPN
inlawrev-22390	709	2	mandelbaum	mandelbaum	PROPN
inlawrev-22390	709	3	,	,	PUNCT
inlawrev-22390	709	4	here	here	ADV
inlawrev-22390	709	5	comes	come	VERB
inlawrev-22390	709	6	everybody	everybody	PRON
inlawrev-22390	709	7	,	,	PUNCT
inlawrev-22390	709	8	inc	inc	PROPN
inlawrev-22390	709	9	.	.	PROPN
inlawrev-22390	709	10	,	,	PUNCT
inlawrev-22390	709	11	may	may	AUX
inlawrev-22390	709	12	2014	2014	NUM
inlawrev-22390	709	13	,	,	PUNCT
inlawrev-22390	709	14	at	at	ADP
inlawrev-22390	709	15	114	114	NUM
inlawrev-22390	709	16	,	,	PUNCT
inlawrev-22390	709	17	available	available	ADJ
inlawrev-22390	709	18	at	at	ADP
inlawrev-22390	709	19	https://www.inc.com/magazine/201405/robb-mandelbaum/jobs-act-crowdfunding-problems.html	https://www.inc.com/magazine/201405/robb-mandelbaum/jobs-act-crowdfunding-problems.html	PROPN
inlawrev-22390	709	20	[	[	X
inlawrev-22390	709	21	https://perma.cc/a3ff-vxug	https://perma.cc/a3ff-vxug	X
inlawrev-22390	709	22	]	]	X
inlawrev-22390	709	23	.	.	PUNCT
inlawrev-22390	710	1	291	291	NUM
inlawrev-22390	710	2	.	.	PUNCT
inlawrev-22390	711	1	see	see	VERB
inlawrev-22390	711	2	supra	supra	PROPN
inlawrev-22390	711	3	part	part	PROPN
inlawrev-22390	711	4	iv	iv	NOUN
inlawrev-22390	711	5	.	.	PROPN
inlawrev-22390	711	6	292	292	NUM
inlawrev-22390	711	7	.	.	PUNCT
inlawrev-22390	712	1	see	see	VERB
inlawrev-22390	712	2	i	i	PRON
inlawrev-22390	712	3	d.	d.	PROPN
inlawrev-22390	712	4	293	293	NUM
inlawrev-22390	712	5	.	.	PUNCT
inlawrev-22390	713	1	15	15	NUM
inlawrev-22390	713	2	u.s.c	u.s.c	NOUN
inlawrev-22390	713	3	.	.	PUNCT
inlawrev-22390	714	1	§	§	PROPN
inlawrev-22390	714	2	§	§	PROPN
inlawrev-22390	714	3	77b(b	77b(b	PROPN
inlawrev-22390	714	4	)	)	PUNCT
inlawrev-22390	714	5	,	,	PUNCT
inlawrev-22390	714	6	78d	78d	X
inlawrev-22390	714	7	(	(	PUNCT
inlawrev-22390	714	8	2012	2012	NUM
inlawrev-22390	714	9	)	)	PUNCT
inlawrev-22390	714	10	.	.	PUNCT
inlawrev-22390	715	1	294	294	NUM
inlawrev-22390	715	2	.	.	PUNCT
inlawrev-22390	716	1	see	see	VERB
inlawrev-22390	716	2	supra	supra	PROPN
inlawrev-22390	716	3	part	part	PROPN
inlawrev-22390	716	4	vi	vi	PROPN
inlawrev-22390	716	5	.	.	NOUN
inlawrev-22390	716	6	295	295	NUM
inlawrev-22390	716	7	.	.	PUNCT
inlawrev-22390	717	1	see	see	VERB
inlawrev-22390	717	2	i	i	PRON
inlawrev-22390	717	3	d.	d.	PROPN
inlawrev-22390	717	4	296	296	NUM
inlawrev-22390	717	5	.	.	PUNCT
inlawrev-22390	718	1	see	see	VERB
inlawrev-22390	718	2	rogers	roger	NOUN
inlawrev-22390	718	3	,	,	PUNCT
inlawrev-22390	718	4	supra	supra	PROPN
inlawrev-22390	718	5	note	note	NOUN
inlawrev-22390	718	6	3	3	NUM
inlawrev-22390	718	7	,	,	PUNCT
inlawrev-22390	718	8	at	at	ADP
inlawrev-22390	718	9	377	377	NUM
inlawrev-22390	718	10	.	.	PUNCT
inlawrev-22390	718	11	297	297	NUM
inlawrev-22390	718	12	.	.	PUNCT
inlawrev-22390	719	1	crowdfunding	crowdfunding	NOUN
inlawrev-22390	719	2	,	,	PUNCT
inlawrev-22390	719	3	80	80	NUM
inlawrev-22390	719	4	fed	feed	VERB
inlawrev-22390	719	5	.	.	PUNCT
inlawrev-22390	720	1	reg	reg	PROPN
inlawrev-22390	720	2	.	.	PUNCT
inlawrev-22390	721	1	71,388	71,388	NUM
inlawrev-22390	721	2	,	,	PUNCT
inlawrev-22390	721	3	71,489	71,489	NUM
inlawrev-22390	721	4	(	(	PUNCT
inlawrev-22390	721	5	nov	nov	PROPN
inlawrev-22390	721	6	.	.	PROPN
inlawrev-22390	721	7	16	16	NUM
inlawrev-22390	721	8	,	,	PUNCT
inlawrev-22390	721	9	2015	2015	NUM
inlawrev-22390	721	10	)	)	PUNCT
inlawrev-22390	721	11	.	.	PUNCT
inlawrev-22390	722	1	298	298	X
inlawrev-22390	722	2	.	.	PUNCT
inlawrev-22390	723	1	see	see	VERB
inlawrev-22390	723	2	supra	supra	PROPN
inlawrev-22390	723	3	part	part	PROPN
inlawrev-22390	723	4	v.c	v.c	PROPN
inlawrev-22390	723	5	.	.	PUNCT