Revolutionary Angels

HOME > TERMS AND CONDITIONS

Business Plan Contest Terms & Conditions

Note: Revolutionary Angels, LLC (“Sponsor”) reserves the right to update these terms and conditions at any time. Although an attempt will be made to notify participants of any modification to this document; it is ultimately the responsibility of participants to stay current with our Terms and Conditions.

Last Modified: Monday September 30, 2009 07:19 EST

Eligibility

Each team or individual must meet the following requirements in order to compete in the Revolutionary Angels Business Plan Contest (“Contest”): (i) all team members must be at least 18 years of age; and (ii) each team must have at least one legal US resident. Employees of Sponsor and members of their immediate families or households are not eligible to participate. Void where prohibited by law. Federal, state and local laws and regulations apply. By agreeing to these terms and conditions, each entrant is representing to the Sponsor that he/she/they meet these eligibility requirements.

How to Enter

The Sponsor plans to hold Contests on a regular basis, approximately once per calendar quarter. Entrants may submit entries to a Contest by:

1. Going to the “Registration Section” of this website.
2. Filling out the Registration Page found therein.
3. Upload your business plan, together with an executive summary of your business plan, which executive summary must not exceed three pages in length.
4. Upload team member resumes (if not already included with the business plan).
5. Paying the entrance fee as set forth in the Registration Section. Such entrance fee is due upon registration and is non-refundable once submitted.
6. All submitted documents to be in Microsoft Word or PowerPoint.

All entries must be submitted by no later than 11:59PM ET on the date that is 10 calendar days prior to the date of the Contest in which the entrant desires to participate. Absolutely no late documents will be accepted for a Contest, although late submissions for a Contest may be held and entered into the next occurring Contest in the sole discretion of the Sponsor upon written request from the entrant. By entering a Contest, entrants accept and agree to be bound by these Official Terms and Conditions.

Prizes

First and second place cash prizes will be awarded for each Contest in the amounts announced with respect to such Contest. Each such prize will be paid by cash or check and will be in the form of an equity investment by Sponsor in the prize winning entrant’s business represented in its prize-receiving business plan. The terms and conditions of each such equity investment are as follows: (i) the investment will be in shares of common stock (or their equivalent) in the entity pursuing such prize winning business plan; (ii) the number of shares of such common stock (or its equivalent) issued to the Sponsor will represent 10% of the issued and outstanding equity of such entity calculated following the issuance of equity to the founder or founders of such entity; (iii) such shares will be entitled to such registration rights as may later be granted to any then current or later purchaser of shares of capital stock (or their equivalent) of such entity. It is a condition to the payment of any prize that the recipient of the prize enter into a subscription agreement in the form provided by the Sponsor which will set forth such terms of investment. All prize recipients also acknowledge and agree that the fees and expenses of legal counsel of the Sponsor in connection with entering into such subscription agreement and the closing of such investment are to be paid by the recipient and, if not paid at the time of the award of the prize and the closing of such investment, will be deducted from the prize money paid to the recipient. All prizes will be awarded at each Contest provided a sufficient number of eligible entries are received for such Contest. Many will enter to win, however only two entrants will win at each Contest, with only one entrant winning the first prize in each Contest and one other entrant wining the second prize in each Contest. Winners will be selected by a panel of judges. The criteria to be used by the judges may be viewed by clicking here. The judges’ decisions are in their sole discretion and are final. Contest participants are not to contact judges from any round and judges are not to contact any participants during the course of a Contest. Feedback will be provided for each entering business plan in a Contest whether or not such business plan is a prize winner in such Contest.

Winners

Winners of a Contest will be announced at the final networking/prize announcement event of such Contest. Winners are encouraged to attend such final event but need not be present to win. Prizes are not transferable. Taxes are the winner’s responsibility. Prize acceptance constitutes permission (except where prohibited) to use winner’s name and likeness for advertising and publicity purposes without additional compensation and a limited use license in hereby granted by each entrant to Sponsor of any trademark, service mark or tradename of entrant for use by Sponsor for such advertising and publicity purposes. Sponsor and its agents are not responsible for any liability associated with the acceptance or use of or inability to use a prize. Winners acknowledge that prizes are awarded “as is” and that any representation, guarantee or warranty, express or implied, in law or in fact, relative to any prize, including but not limited to its quality, or fitness for a particular purpose is expressly disclaimed.

Release of Liability

By entering, each entrant agree to hold harmless the Sponsor, its subsidiaries, affiliates, advertising and promotion agencies and partners, and all of their respective officers, directors, employees, representatives and agents, from and against, any and all rights, claims and causes of action whatsoever that they may have, or which may arise, against any of them for any liability for any matter, cause or thing whatsoever, including but not limited to any injury, loss, damage, whether direct, compensatory, incidental or consequential, to person, including death and property, arising in whole or in part, directly or indirectly, from their acceptance, possession, use or misuse of a prize in the Contest, or their participation in the Contest, or their participation in any Contest or prize related activity.

General Terms

Sponsor and its agents are not responsible for lost, late, misdirected, damaged, incomplete or illegible entries or Internet technical, hardware, software, telephone, or transmission failures of any kind, which may limit a person’s or team’s ability to enter the Contest. Sponsor and its agents are not responsible for any injury or damage to entrants’ or any other person’s computer related to or resulting from entering or downloading any materials in the Contest. Sponsor reserves the right to cancel or suspend advertising the Contest on the Internet should a computer virus, unauthorized intervention or other cause corrupt the integrity or proper conduct of the promotion. Sponsor reserves the right to disqualify any entrant found to be disrupting the operation of the Contest or its web site. No transfer or assignment of entries is permitted. Entrants retain all rights to any video submissions but agree to grant non-exclusive, non-commercial rights for usage to the Sponsor. Sponsor reserves the right to cancel any Contest and to return all entrance fees related thereto. We can’t imagine any reason for a dispute, but in the event of a dispute, the Venue for any dispute is The Commonwealth of Massachusetts. Massachusetts State law applies.