CGU

CGU

LITA.co is a Web site of the company 1001PACT, a simplified joint-stock company (SAS) with share capital of €12,000, whose registered office is located at 50, avenue Claude Vellefaux, 75010 Paris,  registered with the Paris Trade and Companies Registry under No. 805 139 383.

LITA.co (ex 1001PACT.com) is the first Web site that allows individuals to become social investors in a responsible company with strong social, societal and/or environmental impact.

ARTICLE 1. PURPOSE

The purpose of these General Terms of Use (hereinafter «TOU») is to lay down the provisions applying to the users or « web users », natural or legal persons, relating to the access to and use of the information and services provided by the Web site WWW.LITA.CO .

ARTICLE 2. USE – MANDATORY RULES

Any access to or use of the Web site WWW.LITA.CO is worth acceptance, without reserve, of these General Conditions of Use.

These TOU may be supplemented by additional provisions. Users will be informed without delay in the event of any addition, deletion or modification of the provisions. In addition, users shall refer to the last online version as of its date of registration which shall automatically and unquestionably be binding in its content and scope.

Any user of the Web site WWW.LITA.CO shall be deemed to have accepted the rules governing the Site's functioning.

Failure to comply with these TOU shall lead to the user’s account deletion.

Any user completing the on-line registration process shall be entitled to do so. In this regard, he shall represent and warrant that:

  1. 1. he is of legal age and not placed under guardianship, curatorship or under the protection of the Court.
  2. 2. he is duly authorized and has the necessary powers to represent a legal person.

Furthermore, the user shall represent and warrant:

  1. 1. the veracity and accuracy of the information provided upon registration
  2. 2. the maintenance of the information provided by making any changes if necessary.

ARTICLE 3. STATUS OF WEB USERS

Web users may obtain the following status, depending on their activity on the Web site:

  1. 1. « Visitor » designates the Web user, natural or legal person, accessing the Web site but not registering as a member.
  2. 2. « Member » designates the Web user, natural or legal person, who registers on the Web site after submitting his full name and email address and answering the questions relating to the acceptance of the risks inherent to the offers proposed by LITA.co, and in particular concerning the possible losses. 
  3. 3. « Investing Member » designates the “member” who answered the questions relating to his family, patrimonial and professional situation and thus confirming his financial knowledge and experience.
  4. 4. - « Investor » designates the member who has invested in the company via the Web site.
  5. 5. - « Social Enterprise » or « Project » designates a project submitted on LITA.co’s Web site with a social, societal or environmental impact.

ARTICLE 4. ACCESS AND AVAILABILITY OF THE WEB SITE

The Web site can be found at WWW.LITA.CO

Access to the company’s confidential information shall be subject to the full registration of an investor’s account, under the conditions laid down in Article 7 below.  

Except in a case of force majeure or other event beyond the control of LITA.co, the Web site can be accessed 24 hours a day and 7 days a week.

Should such event occur or should the web site and/or its functionalities be unavailable, the Web users shall be informed without delay of the situation and its resolution.  

To this end, the user is invited to notify any malfunction he could come across while browsing the Web site.

ARTICLE 5. CREATION OF THE INVESTOR ACCOUNT

6.1 Registration process

All users willing to become members and obtain an account shall first complete the form available on the Web site.

To create an account, the Web user is invited to provide the following information:

  1. 1. Title, Last name, First name
  2. 2. Email address
  3. 3. Password
  4. 4. Postal code
  5. 5. Country of residence

It will also possible to connect directly from Google+ or LinkedIn.

The user will be required to read and accept the General Terms of Use of the Web site and accept the risks linked to the investment operation.

Therefore, a questionnaire will be submitted to the user to confirm his acceptance of the risks inherent to the operation and in particular, the risk of total or partial loss of such investment as well as the risk of non-resale of the securities obtained.

The questionnaire consists of the following two questions:

"Capital investment is a risky operation, whose success cannot be guaranteed. Are you aware of the risk of total loss of the invested amount involved in such an operation?"

The expected return on the investment will only be obtained upon the resale of the capital shares acquired. Are you aware that you may have difficulties reselling all of your shares? "

The user will then have to fill-in the entire form entitled « Adequacy Test » to complete his investor account, and attach a proof of residency and identity.

This form is used to analyze the Member’s financial situation, experience and knowledge regarding investment as well as his investment objectives.

The creation of the account shall be effective from the date the required documents are received and once LITA.co validates the application. A confirmation email will be sent to the user within 72 hours or, failing that, additional information may be requested from the user who does not meet all the required conditions.

6.2. Obligations of the investor

The user hereby agrees to provide reliable and accurate information in their content and scope, and to not use a false identity likely to mislead third parties. Should there be any change in the information provided, the user undertakes to carry out all necessary updates without delay. 

In the event the Web user provides false, inaccurate, outdated, incomplete information or in violation with the provisions of these article, LITA.co reserves the right to suspend or delete the Web user’s account without delay, and to deny immediate or future access to all or part of the Web site.

6.3 Services provided by LITA.co

LITA.co undertakes to provide member investors with an Equity Investment Adviser service relating to the Financial Markets Authority’s ("AMF") General Regulations.

LITA.co is also committed to offering a range of responsible companies with high social impact and viable economic model.  

The companies’ selection process and criteria are available on a dedicated page of the Website.

Information relating to Companies, Projects and investment procedures will be customized depending on the profile of the user, in accordance with the classification set out in Article 3.

The nature of the information is detailed below:

  1. 1. « Access to the platform except project file » means the visitor can access the entire platform, including short presentations of the companies (name of the company, logo, brief presentation of the business, amount requested, social impact, closing date for the subscriptions and subscription intentions). The visitor cannot access the fact sheet of the companies.
  2. 2. « Company fact sheet » means the member has access to the company presentation (photo, video, minimum investment, tax exemption program, pitch, team, market opportunities/offer, social impact, corporate responsibility, purpose of the fund, assessment of LITA.co, general financial data).  
  3. 3. « Ancillary documents » means the « investing member » can download the existing accounts, the Statutory auditors' reports of the last financial year and the current financial year (if they exist), the business plan including the debt schedule over 5 years, forward-looking statements concerning the business activities, the organization chart of the main members of the management team, the organization chart of the group to which the company belongs and the company’s rank (if relevant), the curricula vitae of all the legal representatives of the company, the articles of association, and any other necessary documents.
  4. 4. « Details of the financial operation » means the « investing member » has access to the nature of the securities, the share price, and the range of value of the company.
  5. 5. « Details of the subscription » means the « investing member » has access to the subscription conditions, the subscription form and the shareholders' agreement.
  6. 6. « Investment opportunity » means the « investing member » can directly subscribe to the company’s capital via S-money’s secure payment service.
  7. 7. « Oversight of the investment » means the « investing member » has access to information concerning the closing of the fundraising as well as financial and extra-financial information concerning the company on a semi-annual frequency.

The table below shows the available information depending on each user’s profile:

Any web user who did not complete his profile will not be able to access the above-mentioned information as well as the investment operations.

ARTICLE 6. OPERATION MODE FOR INVESTORS AND SOCIAL ENTREPRENEURS

LITA.co allows entrepreneurs to solicit web users and gather a community of impact investors who will take shares in their company.

To use LITA.co’s Equity Investment Adviser services, the entrepreneur must submit his application online by going to the “social entrepreneur” section and clicking on the “submit” button.

The entrepreneur is then invited to fill-in the questionnaire and download the elements of assessment of the project being considered. He will receive a confirmation email upon receipt of his file and will be contacted within 15 days, from the date on which he submitted his file.  

ARTICLE 7. REMUNERATION

7.1 Investors

Registration on the WWW.LITA.CO platform is entirely free of charge.

In the event of a participation in a Project, the user referred to as “Investor” shall pay a commission to LITA.co, from 1 to 3% incl. VAT of the amount of the investment, for each subscription made.

  1. 1. - 3% incl. VAT if the investment is below €6,000
  2. 2. - 2% TTC incl. VAT if the investment is between €6,000€ and €15,999
  3. 3. - 1% TTC incl. VAT if the investment is equal to or exceeds €16,000

This commission is included in the price of the investment and will be, as such, automatically deducted from the amount paid by the Investor.

The price of the commission is indicated with all taxes included.

In the event of non-achievement of the proposed capital increase in a Target Company, the amount of the subscription (including commission) will be refunded to the Investor.

7.2 Entrepreneurs

Application on the WWW.LITA.CO platform is entirely free of charge.

In the event of achievement of the Project, the company shall pay a fixed price between €0 and €2000 Excl. VAT to LITA.co depending on the support provided by LITA.co. In addition, he shall pay a commission of 4 to 7% Excl. VAT of the amount of the investment made.

ARTICLE 8 - DATA PROTECTION

8.1 General principles

In accordance with the French Data Protection Act of 6 January 1978 as amended by the law of 6 August 2004, the personal data of the members (surname, first name, company name, function, e-mail and geographical address, telephone number, fax and information bank and any data that would be indicated on the forms) are collected by LITA.co for the purposes of good management of the Site (statistics, optimization of features and our offers).

As such, LITA.co undertakes to protect and keep confidential the personal data of its members and not to use or disclose such data for purposes other than the proper management of the Site.

8.2 Privacy Policy resulting from GDPR

Considering the new regulation resulting from the GDPR (European regulation n°2016/679 /EU dated April 27th, 2016), and like any controller, Lita.co is required to inform you of the nature, purpose and terms according to which our company processes your personal data and your rights resulting from these treatments. The purpose of this information is to inform you in a transparent way about how we process your personal data when you register on our site to benefit from the services described in these Terms and the commitments we make to guarantee you respect , the integrity and security of these.

8.2.1 the data that our company collects and the purposes of this collection

As part of our relationship and to enable us to comply with the regulations applicable to our business, we collect and process personal information about you, including by responding to online questionnaires above. In any case, this is only adequate data and strictly necessary for the purpose for which they are processed, generally related to the proper functioning of the services we offer and compliance with legal or regulatory requirements that our company is subject to exercise its activity:

- Identification data, such as your name, first name, gender, email address, password, postal code and country of residence, phone number;

- Data to meet our regulatory obligations, such as your acceptance of these Terms and the risks related to investment operations, the adequacy test, your bank details, your personal and patrimonial situation and any other data obtained with your consent or collected in accordance with the regulations;

- Data specific to the enterprises winners of the challenge, such as date of birth, family situation and any other information related to their project and necessary for the perfect knowledge of it by potential investors;

- Statistical data, such as your browser, and the material used to administer our system, improve the quality of our services and provide statistics.

These data were collected as a result of our online requests, when you registered on our site whether as “member” or “investor-member” as defined in article 3 above, with a purpose explicit, legitimate, proportionate and determined.

The purpose of this collection is strictly related to:

the provision of our services, including our newsletters and regular communications regarding the news about new projects,

the regulatory obligations that result and necessary for the performance of our services, particularly in terms of management of your account when you register on our website, and monitoring your file and ensuring the quality and safety of our services,

Regarding our website, it is essentially limited to collecting statistical data of visits, through "Google Analytics" (see the section Cookie Management in Article 9 below).

8.2.2 the person responsible for processing your personal data

The person in charge of the processing of your personal data, who remains the guarantor of their security and their confidentiality is the company 1001PACT, SAS with a variable share capital, the registered office of which is located 50, avenue Claude Vellefaux, 75010 Paris, owner and user of the website www.lita.co.

8.2.3 the recipients of the collected data

- The staff of our company: within the limits of back office staff and information system, holder of a specific authorization, in charge of the follow-up of your file, who has received security and confidentiality awareness training your data;

- The subcontractors of our company: IT service providers, host, secure online payment, accountant. These subcontractors only act on our instructions and have access to your personal data only to render the only services we entrust to them. They are held to the same obligations of security and confidentiality as us;

- If necessary, the public authorities: if they request it from us or as part of our legal and regulatory obligations. In such a case, only the information strictly necessary to respond to the request is communicated.

We confirm that your data remains on servers located in the European Union and that they are communicated only to people who need to know them for the purposes of providing our services, to the exclusion of all uses for commercial or advertising purposes from third parties (with the exceptions listed in Article 8.2.1 above) and more generally are not subject, except in the above-mentioned cases, to any disclosure to third parties.

In any case, your data will not be transferred for purposes other than those described above, unless you obtain your consent, which you can withdraw at any time.

8.2.4 retention period of your data

We keep your data for the period strictly necessary for the accomplishment of the aforementioned purposes and especially for a period of three years from your unsubscription from our site and this, both to meet our legal obligations and the establishment of evidence a contract or right. At the end of this period, they are removed, except for some of them (for example investment operation), which obliges us to keep them by archiving for a longer period for evidential purposes

8.2.5 the security measures put in place

We put in place physical and logical security measures to ensure the integrity of your data, and ask our subcontractors to do the same.

These measures include the protection of computers by passwords, logoff in case of absence, regular backup of data held in a secure place, encryption of data during transfers, authorization procedure and protection of premises.

These measures guarantee the security, integrity and confidentiality of your personal data.

8.2.6 your rights and how to exercise them

In application of GDPR, you can:

- Access: You have a right of access to the personal data about you that we hold. You can exercise it by sending us a letter to the address mentioned in point 2 above;

- Correct: if you consider these data incomplete or erroneous you can ask us (by letter also) to rectify them, which we will do as soon as possible;

- Limit: in certain cases exhaustively listed by article 18 of the RGPD, you are entitled to ask us to limit the processing of your personal data;

- Transfer: you benefit from the right to the portability of your personal data and their transfer to the recipient of your choice, in an easily transferable form;

- Delete: you can ask our company that your personal data are erased, especially when we no longer have legitimate reason and proportionate to the conservation thereof. However, we draw your attention to the fact that the deletion of data may make it impossible to access our services;

- File a claim: you retain the right to lodge a claim with the CNIL if you consider that we have exceeded our rights. However, we thank you for kindly contacting our company beforehand to find a solution that suits you;

- Oppose: If you no longer wish to be the recipient of our information notes and / or investment proposals, you will just have to click on the specific link mentioned on this type of email from us;

- Give instructions after your death: the right to give specific instructions regarding the fate of your personal data after your death.

Finally, to exercise your rights above, it is your responsibility to write us at the address mentioned in point 2 above, accompanied by a copy of your duly signed ID.

ARTICLE 9. HYPERTEXT LINKS - COOKIES:

9.1. Hypertext links:

This Site may contain hypertext links to other websites on the Internet that are not owned or operated by LITA.co.

In this respect, LITA.co cannot, in any way whatsoever, be responsible for the content, the privacy policy or the practices of third party sites.

9.2. Cookies :

The use of the Site features may require the establishment of "cookies", namely a text file which, placed on your computer during your visit to our Site, proves to be essential to the use of our services, either by optimizing the consultation by improving and personalizing your user experience. They can also allow us to know the use that is made of our Site (pages visited, visit course), to establish statistics of attendance to improve the ergonomics of it. These are implemented by Google Analytics.

In any case, refusing these cookies or deleting them does not affect your ability to browse our Site.

As indicated in article 6.1 hereof, the connection can be done from your Google+ or Linkedin account, which generates a third party cookie from the social network.

You have various means to manage the implementation of these cookies including their permanent deletion. As a reminder, most browsers (Chrome, Internet Explorer, Safari, Firefox, etc.) accept these cookies by default. You can change this default setting by going to the settings of your browser, each configuration is different (see the conditions of your browser and the path of its own).

You can either block them or ask that your browser inform you before installing a cookie, or delete it, remembering that they have a limited life on your computers.

ARTICLE 10. INTELLECTUAL PROPERTY

All content published on this Web site are the sole property of LITA.co and are, as such, protected by copyright.

Any reproduction or dissemination of this content, without LITA.co’s prior written consent, shall subject the offenders to legal action.

ARTICLE 11. WARRANTY DISCLAIMER

11.1 Information

LITA.co cannot guarantee the information provided by the Target Companies.

It is the responsibility of the Web user to gather and check the information before taking an investment decision.

11.2 Investments

The value of an Enterprise, determined using traditional valuation techniques, is set according to potential future performance. Its cyclical nature is an element to be taken into account when taking an investment decision.  

Similarly, the value of the investment is determined on the basis of the expertise of LITA.co’s team. However, taking into account the cyclical nature of such valuation (…*), LITA.co cannot guarantee its accuracy.

In any case, the fulfillment of the mission is part of an obligation of means, in such a way that LITA.co cannot guarantee the success of the investment.

ARTICLE 12. RESPONSIBILITY

12.1 Information

The information and documents available on the Web site come from reviewed sources and may, as such, be considered reliable. In addition, given their constant evolution, LITA.co will perform updates on a regular basis.

However, LIA.co will under no circumstances be liable for any inaccuracy of the information provided. Therefore, it is the responsibility of the user to check the accuracy, quality and effective updating of the information provided.

Similarly, LIA.co shall not be held liable for the lack of information and documents provided by the Target Companies.

12.2 Use of the Web site – Personal account - Confidentiality

The user shall be responsible for his use of the Web site and his personal account. Therefore, LITA.co shall not be held liable for any harm resulting from the user’s improper use of his account and in particular the disclosure of the password to third parties, as well as the fraudulent use of the account.

Should such event occur, the user must contact LITA.co without delay in order to properly remedy such situation.

12.3. Investors

LITA.co undertakes to inform the Investor in the event of any delay or cancellation of the Project. Should such event occur, LITA.co shall not be held liable of the potential harm and consequences resulting from the delay or cancellation of the Project.

Furthermore, pursuant to the provisions listed in Article 11.2, the mission of LITA.co is part of an obligation of means, and it is expressly agreed between the undersigned that the Service Provider shall not be held liable in the event of total or partial loss of the investment.

Similarly, all disputes arising between the Target Company and the Investor, in particular concerning the subscribed shares, shall not apply to LITA.co.  

ARTICLE 13. JURISDICTION CLAUSE

These General Terms of Use are subject to French law.

All disputes relating to the formation, performance or interpretation of these General Terms of Use, failing amicable agreement, shall be governed by the competent national court.

This clause shall also apply in case of emergency proceedings, warranty claims, incidental claims or plurality of defendants, and regardless of the method and terms of payment.

ARTICLE 14. MISCELLANEOUS PROVISIONS

The invalidity of any provision of these General Terms of Use, in accordance with the law and regulations in force, shall not affect the validity and scope of any other provision of this Agreement.

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