How does crowdfunding work?

With crowdfunding is there any obligation to actually make the thing you said you would? Say someone set up a page to make a smartphone, it'll be the Best Thing Ever, I just need half a million... could the person take the money and run? Or are you entitled to a refund if it doesn't materialise?

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JanSt / MOD  Dec. 5, 2014 at 17:42

apparently, crowdfunding works better than crowd-answering of questions. OOps, I only noticed that now.
Well, from your question I gather you know how it works. It varies from 'campaign' to campaign, and service to service...
I actually don't know how, say, kickstarter handles 'refunds' when a project gets scrapped. I assume there are safety measures in place.... hm... ?


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