Last Update: December 17, 2021.
Your Relationship with Hatchit: You acknowledge and agree that Hatchit is not and does not become a party to, or other participant in any contractual relationship between a Buyer and Seller. Further, You acknowledge and agree that no joint venture, partnership, employment, or agency relationship exists between You and Hatchit as a result of the Agreement or Your use of the Website.
Your Account: Only individuals who are eighteen (18) years of age or older may create an account and transact on the Website. By transacting on the Website, You affirm that You are 18 years of age or older. You are prohibited from allowing third parties to use Your account without written permission from Hatchit. If You are registering a Hatchit Account for a business, organization or other legal entity, You represent and warrant that You have the authority to legally bind that entity. You are responsible for maintaining the confidentiality of Your account and You agree to indemnify, defend, and hold harmless Hatchit for losses incurred by Hatchit or another party due to any use of Your account by a third party. You agree to notify Us immediately if You become aware or suspect that any third party is using Your account. Hatchit reserves the right to block access to the Website for any reason.
User Content and Information: Users who post an asset for sale or an investment opportunity on Hatchit agree to allow Us to promote the post via email and with third parties such as LinkedIn®, Google®, and Twitter®. You are not responsible for any fees Hatchit incurs promoting Your post. You agree that Hatchit can use any information contained in any communication with You, and that We shall have no obligation to compensate You, even if the information is used by Us for commercial purposes, including, but not limited to, use by Us for improving the Website or for developing and marketing any products or services.
Fees: Hatchit does not charge fees to its Users. Hatchit reserves the right to change its fees or billing methods at any time. Hatchit will provide timely notice to You of any such changes. It is Your responsibility to promptly provide Hatchit with any contact or billing information changes. If payment is not current, Hatchit may immediately remove Your post(s).
Ranking on Hatchit: The placement and ranking of Postings in search results on the Website may vary and depend on a variety of factors, including but not limited to: business model, asking price, profitability, page views, buyer activity, posting upgrades, and financial information.
Intellectual Property: The Website, and any information and materials created by Hatchit contained therein, including but not limited to graphics and editorial content, are owned by Hatchit and/or its licensors, and are protected by copyright, trademark, patent, trade secret, and/or other laws. You warrant that Your content and posts do not infringe upon the intellectual property rights of any third party. We reserve the right to remove content or posts alleged to be infringing, without prior notice, at Our sole discretion, and without liability to You. We will respond to notices of alleged intellectual property infringement that comply with applicable law and are properly provided to Us, e.g., the Digital Millennium Copyright Act.
Data on the Website: The Website provides data to You from publicly available sources and from Our Users that sell items via Our Website (“Data”). Although We would not knowingly deliver to You inaccurate or incomplete Data, some Data may not always be accurate or complete. Please see Our Posting and Buying Policies for more information. You should exercise great care in using the Data provided on the Website or available through links from the Website. You should research the facts and opinions contained in this Data before making any buying or selling decisions. The Data provided on this Website is provided to You for informational purposes only and does not constitute an offer to sell or buy any business or asset that may be referenced or described on the Website. Nothing on the Website should be construed as rendering tax, legal, investment, or accounting advice. The posting of any Data or any other information on the Website should not be interpreted as a recommendation or opinion that You should make any purchase or sale or participate in any transaction.
Warranties: The Data and the Website are provided “as is'' without warranties of any kind, either express or implied. Hatchit does not warrant or make any representations regarding the use, validity, accuracy, reliability of, or the results of the use of the Data or the Website. Your use of the Website and Data is solely at Your own risk.
Improper Use: You represent and warrant that You shall not use the Website or Data for any unlawful purpose. Examples of unlawful purposes include, but are not limited to: (a) stalking or harassing any individual; (b) requesting information under false pretenses; (c) using Data to impersonate someone; and (d) using Data for any other purpose prohibited by law. You further agree that You shall not access, reproduce, duplicate, sell, resell, transfer, or exploit the Data for any commercial purposes. Finally, You acknowledge and agree that You will not (a) collect or store personal data about other Users of the Website, or (b) upload, e-mail or otherwise transmit any material that contains viruses or any other computer code, files or programs that might interrupt, limit or interfere with the functionality of any computer software, hardware, database or file, or communications equipment that is owned, leased or used by Hatchit. You can view a partial list of prohibited goods, services and content on Hatchit. You are prohibited from violating or attempting to violate the security of the Website. You may not use Hatchit to promote products or services to listing brokers or business owners. You agree that communication on or through Hatchit will at all times comply with these Terms and be professional. Any communication which contains spam is not allowed. Furthermore, hateful, offensive, violently threatening, racist, obscene, profane, illegal or vulgar language and content is not tolerated on Hatchit and will result in an immediate and permanent cancellation of Your Hatchit Account. Hatchit has the right to deny Website access and revoke the privileges of any User that breaches these Terms.
Hyperlinks: The Website may contain hyperlinks to third-party websites as a convenience to You. We do not control or endorse these third-party sites or any goods or services sold on these sites. Some of these sites may contain materials that are objectionable, unlawful, or inaccurate. You acknowledge and agree that Hatchit is not responsible or liable for any content or other materials on these third-party sites.
SEC Compliance: Hatchit's Website includes an "Investment Opportunities" category, allowing Users to post a raise to connect with funding sources for their business ("Investment Opportunities Post"). If You post in this category, it is Your responsibility to verify the Data and claims provided in Your Investment Opportunities Post. If You inquire about an Investment Opportunities Post, You warrant You are a U.S. accredited investor, which requires a net worth of greater than $1 million (with or without a spouse) excluding Your primary residence OR annual income of greater than $200k ($300k with a spouse) for the past 2 years and expected in the current year. If You inquire about an Investment Opportunities Post on behalf of a business, You warrant that the company has assets in excess of $5 million OR all the principals of the business are accredited investors. You understand that Hatchit (a) is not a registered broker dealer, does not offer investment or fundraising advice, and does not make recommendations that any investor make any particular investment or that any company offer any securities (b) does not negotiate or execute securities transactions (c) does not receive compensation in connection with the purchase or sale of securities, and (d) is not a crowdfunding platform. You understand the listing owner of an Investment Opportunities Post is required to be in compliance with an exemption under federal and state securities laws as a Reg D Form 506(c) offering or registered as a private offering with the SEC and not disqualified under the Bad Actor Rule. You also understand that Hatchit is not responsible for the securities' compliance of an Investment Opportunities Post. Nor is Hatchit responsible for verifying the accredited status of investors identified through the Hatchit platform.
Limitation of Liability: EXCEPT WHERE OTHERWISE INAPPLICABLE OR PROHIBITED BY LAW, IN NO EVENT SHALL HATCHIT OR ANY OF ITS OFFICERS, DIRECTORS, SHAREHOLDERS, EMPLOYEES, INDEPENDENT CONTRACTORS, AND/OR AGENTS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, CONSEQUENTIAL, PUNITIVE, OR ANY OTHER DAMAGES, FEES, COSTS OR CLAIMS ARISING FROM OR RELATED TO THIS AGREEMENT OR ANY HATCHIT SERVICES, REGARDLESS OF WHETHER HATCHIT HAS HAD NOTICE OF THE POSSIBILITY OF SUCH DAMAGES, FEES, COSTS, OR CLAIMS. THIS INCLUDES, WITHOUT LIMITATION, ANY LOSS OF USE, LOSS OF PROFITS, LOSS OF DATA, LOSS OF GOODWILL, COST OF PROCUREMENT OF SUBSTITUTE SERVICES OR PRODUCTS, OR ANY OTHER INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, CONSEQUENTIAL, OR OTHER DAMAGES. THIS APPLIES REGARDLESS OF THE MANNER IN WHICH DAMAGES ARE ALLEGEDLY CAUSED, AND ON ANY THEORY OF LIABILITY, WHETHER FOR BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY), WARRANTY, OR OTHERWISE. YOUR EXCLUSIVE REMEDY, AND HATCHIT’S ENTIRE LIABILITY UNDER THIS AGREEMENT SHALL BE A REFUND OF THE FEES PAID TO HATCHIT, AND IN NO EVENT WILL HATCHIT’S LIABILITY FOR ANY REASON EXCEED SUCH FEES. THIS LIMITATION OF LIABILITY SHALL APPLY FOR ALL CLAIMS, REGARDLESS OF WHETHER HATCHIT WAS AWARE OF OR ADVISED IN ADVANCE OF THE POSSIBILITY OF DAMAGES OR SUCH CLAIMS. SOME STATES DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES, SO SOME OF THE ABOVE EXCLUSIONS MAY NOT APPLY TO YOU AND YOU MAY HAVE ADDITIONAL RIGHTS.
Dispute Resolution by Mandatory Binding Arbitration and Class Action Waiver: YOU AGREE TO USE ARBITRATION AS THE SOLE AND EXCLUSIVE MEANS TO BRING ANY CLAIM OR TO RESOLVE ANY DISPUTE. YOU UNDERSTAND THAT BY AGREEING TO THE FOREGOING YOU ARE GIVING UP THE RIGHT TO FORM OR BE A PART OF A CLASS ACTION OR OTHER REPRESENTATIVE LAWSUIT. UNLESS YOU AND HATCHIT AGREE OTHERWISE, THE ARBITRATION WILL OCCUR IN U.S. ENGLISH AND TAKE PLACE IN ORANGE COUNTY, NORTH CAROLINA. PAYMENT OF ANY FEES WILL BE DECIDED BY THE APPLICABLE AAA (AMERICAN ARBITRATION ASSOCIATION) RULES.
Indemnification: You agree to indemnify, defend, and hold Hatchit, its directors, officers, employees, affiliates, agents, contractors, licensors, and subsidiaries harmless from any loss, liability, claim, or demand, including reasonable attorneys’ fees, made by any third party due to or arising out of this Agreement, Hatchit’s services, and Your use of the Hatchit Website.
Termination: We reserve the right to terminate or restrict Your account and/or access to the Website for any reason, or no reason whatsoever, including, without limitation, if We, in Our sole discretion, consider Your use to be unacceptable, or in the event of any breach by You of the Terms. We may, but shall be under no obligation to, provide You a warning prior to termination or restriction of Your use of the Website. We will not be liable to You or any third party for its termination or restriction of Your account and/or access. We also reserve the right to terminate the Website or any part of the Website at any time, without notice or liability to You.
International Use: Recognizing the global nature of the Internet, You agree to comply with all local rules regarding online conduct and acceptable content. Specifically, You agree to comply with all applicable laws regarding the transmission of technical data exported from the United States or the country in which You reside.
Choice of Law: The Data, the Website and the Agreements were created and are operated by Hatchit in the State of North Carolina, United States of America. The laws of the State of North Carolina will govern Your use of the Website and their legal terms and policies without giving effect to any principles or conflicts of laws. If any provision of this Agreement is found to be invalid by any court having any competent authority, the invalidity of such provision shall not affect the validity of the remaining provisions of this Agreement, which shall remain in full force and effect. No waiver of any provision in this Agreement shall be deemed a further or continuing waiver of such provision or any other provision.
Legality and Access: You are subject to all laws of Your state and country in which You reside and from which You access the Website and are solely responsible for obeying those laws. You agree that Hatchit cannot be held liable if laws applicable to You restrict or prohibit Your participation. Hatchit makes no representations or warranties, implicit or explicit, as to Your legal right to use the services offered on the Website nor shall any person affiliated, or claiming affiliation, with the Website have authority to make any such representations or warranties. Hatchit reserves the right to monitor the location from which You access the Website and to block access from any jurisdiction in which participation is illegal or restricted.
Errors on this Website: Errors will be corrected where discovered, and Hatchit reserves the right to revoke any stated offer and to correct any errors, inaccuracies, or omissions.
General: Data, materials, advertisements, features, products and services may be added to or withdrawn from the Website or otherwise changed without notice. Neither We nor the Website are affiliated with the United States Government or any Federal or State government agency.
Contact Information for Hatchit:
Address: The Hatchit Marketplace, LLC, 201 Rossburn Way, Chapel Hill, NC 27516