For many entrepreneurs, Kickstarter has become a popular platform to fund their innovative ideas. However, before you launch your campaign, it’s essential to understand the Kickstarter agreement and how it works.
The Kickstarter agreement is a legal contract between the project creator and Kickstarter. It outlines the terms and conditions that both parties agree to follow during the campaign. Here are some key points to keep in mind:
1. Eligibility: To launch a campaign on Kickstarter, you must be 18 years of age or older and have a valid payment method. You also must have a project that fits Kickstarter`s guidelines.
2. Project Guidelines: Kickstarter has guidelines that all projects must follow. For example, it prohibits projects that promote hate speech, illegal activities or incorporate copyrighted material.
3. All or nothing funding: Kickstarter operates on an “all or nothing” funding model. This means that if you don’t meet your funding goal by the end of the campaign, you won’t receive any of the funds.
4. Fees: Kickstarter charges a 5% fee on all funds raised, and payment processing fees apply to each pledge. These fees can vary depending on the country and currency involved.
5. Intellectual Property: As the project creator, you retain the intellectual property rights to your project. However, by launching your campaign on Kickstarter, you grant Kickstarter a non-exclusive license to use your content for promotional purposes.
6. Delivery of Rewards: As a project creator, it`s your responsibility to fulfill your rewards to your backers. Make sure you properly plan and communicate your timeline for delivery.
7. Communication: Communication is key during your campaign. Make sure to keep your backers informed of any updates, delays or changes to your project.
In addition to the above, Kickstarter also has a set of community guidelines that all users must follow. These guidelines promote a respectful and inclusive environment for all users.
Understanding the Kickstarter agreement is crucial to the success of your campaign. By taking the time to read and follow the terms and conditions, you can launch a successful campaign and bring your ideas to life.