Terms of Service

These Terms of Service (the “Terms”) are a binding agreement between OwnFold (“OwnFold,” “we,” “us,” or “our”) and the organization that creates or uses an OwnFold workspace (“Customer” or “you”). They govern access to and use of the OwnFold websites, applications, and related services (together, the “Service”).

The Service is designed for businesses and organizations, such as cooperatives, worker-owned companies, and the people forming them. It is not intended for personal, family, or household use. If you accept these Terms on behalf of an organization, you represent that you have authority to bind that organization, and “you” refers to that organization. You must be at least 18 years old to use the Service.

By creating an account, clicking to accept, or using the Service, you agree to these Terms and to our Privacy Policy. If you have signed a separate written agreement with OwnFold that covers the Service, that agreement controls where it conflicts with these Terms.

• “Workspace” means the account environment provisioned for a Customer organization.
• “Authorized Users” means the individuals you or your administrators invite to or allow into your Workspace, including members, employees, board members, accountants, and advisors.
• “Customer Data” means all information, records, documents, and other content that you or your Authorized Users submit to the Service, or that the Service imports on your instruction (for example, bank transactions imported through Plaid), including member, financial, governance, and operational records.
• “AI Features” means features that use artificial intelligence to generate drafts, answers, or other output, including the AI Advisor and AI document drafting.
• “Plan” means the subscription tier you select, as described on our pricing page or in an order form.

You agree to provide accurate registration information and keep it current. You are responsible for all activity in your Workspace, for your Authorized Users’ compliance with these Terms, and for the roles and permissions your administrators assign. Keep passwords and sign-in links confidential, and tell us promptly at support@ownfold.com if you believe your Workspace has been accessed without authorization.

When you invite people to your Workspace, the Service sends them email invitations on your behalf. You are responsible for having a legitimate relationship with the people you invite and for any notices or consents your own policies or the law require.

Free trial

New Workspaces receive a free trial of 14 days unless we state otherwise. No payment method is required to start a trial. At the end of the trial, access to the Service is limited until you subscribe to a paid Plan. We may change or end trial offers at any time.

Subscriptions

Paid Plans are billed in advance on a monthly or annual basis, as you select, and renew automatically for successive periods of the same length until canceled. You can cancel at any time from Billing & Credits in your Workspace or by contacting us, and cancellation takes effect at the end of the current billing period. Plan limits, such as included members or field seats, and the fees for usage above those limits are described on our pricing page or in your order form. Some Plans are available only through our sales team.

AI credits

AI Features consume platform credits. Your Plan may include an allotment of credits each billing period, and you may buy additional one-time credit packs. Credits have no cash value, are not transferable, and are not refundable except where required by law. We publish the credit cost of common AI operations and may adjust those costs prospectively.

Payment

Payments are processed by our payment processor, Stripe. You authorize us and Stripe to charge your payment method for all fees when due. Fees are stated in US dollars and exclude taxes. You are responsible for all applicable sales, use, value-added, and similar taxes, other than taxes on our income. If a payment fails, we may retry the charge and, after notice, suspend paid features until the balance is paid.

Price changes and refunds

We may change our prices with at least 30 days’ notice. Changes take effect at the start of your next billing period. Except as required by law or expressly stated in these Terms, fees are non-refundable, including for partial billing periods.

Transaction fees

If you enable online payment of your customer invoices, your cooperative receives funds through its own Stripe connected account, and a platform fee of 2% of each paid invoice applies in addition to Stripe’s processing fees. Contributions to public support campaigns carry a platform fee of 5%. Your use of Stripe is also subject to Stripe’s own agreements, including the Stripe Connected Account Agreement.

You own your Customer Data. You grant OwnFold a worldwide, non-exclusive, royalty-free license to host, copy, process, transmit, and display Customer Data only as needed to provide, secure, support, and improve the Service, to comply with law, and as described in our Privacy Policy. We act on your instructions with respect to Customer Data, which are given through your configuration and use of the Service.

You are responsible for the accuracy and legality of Customer Data and for having all rights, notices, and consents needed to submit it, including personal information and taxpayer identification numbers of your members, and bank account information you connect.

We may create aggregated, de-identified statistics from Customer Data, such as average membership or reserve figures used in peer benchmarks, provided they do not identify you, your Authorized Users, or any individual. Information that you choose to publish through public or network features, such as a public capital profile, a support campaign page, or the Co-op Directory, will be visible to the audiences those features describe.

We do not sell Customer Data, and we do not use it for advertising.

You agree not to, and not to allow anyone else to:

• use the Service in violation of any law, including securities, tax, consumer-protection, privacy, anti-spam, and sanctions laws;
• offer or sell securities through the Service, or use the Service to solicit investments in a way that requires registration you do not have;
• upload content that is unlawful, infringing, defamatory, or that you do not have the right to share;
• send unsolicited or deceptive messages using the Service’s invitation, inquiry, or email features;
• probe, scan, or test the vulnerability of the Service, or bypass any security, rate limit, or plan restriction;
• access the Service through automated means other than features we provide, or interfere with its operation;
• reverse engineer the Service except to the extent the law expressly permits; or
• resell or provide the Service to third parties as a service bureau without our written permission.

We may remove content or suspend access that we reasonably believe violates this section.

The Service relies on third-party providers, including Stripe for payments, Plaid for bank connections, Google for AI processing, and an email delivery provider. When you connect or use a feature powered by a third party, that provider’s terms and privacy policy also apply to your use of it. For example, connecting a bank account is subject to Plaid’s end-user privacy policy, and accepting payments is subject to Stripe’s agreements.

We are not responsible for third-party services, and their availability may change. Listings in the Advisor Marketplace, Lender Marketplace, or Co-op Directory are provided for convenience. We do not endorse, and are not responsible for, the services, advice, or terms of any advisor, lender, or other cooperative, and any engagement with them is between you and them.

AI Features generate output automatically from your prompts and from relevant Customer Data. Output may be inaccurate, incomplete, or out of date, and similar prompts may produce different results. You are responsible for reviewing output before relying on it. AI-drafted legal, tax, and financial documents are starting points for review by a qualified attorney or accountant and must not be filed, signed, or relied on without that review.

When you use AI Features, the content needed to fulfill the request is sent to our AI provider for processing, as described in our Privacy Policy. As between you and OwnFold, you own the output generated for your Workspace, subject to these Terms.

OwnFold is a software provider. We are not a law firm, accounting firm, tax preparer, investment adviser, broker-dealer, or funding portal, and no attorney-client, accountant-client, or advisory relationship is created by your use of the Service. Templates, calculations, checklists, AI output, and educational content are general information, not advice for your situation.

OwnFold’s capital features are educational, readiness, and referral tools. OwnFold does not offer or sell securities, recommend investments, hold investor funds, or execute securities transactions. Any securities offering by your cooperative is your responsibility and must comply with applicable law, including through registered intermediaries where required.

You remain responsible for your organization’s legal formation and filings, governance decisions, tax reporting (including patronage allocations and Forms 1099-PATR), payroll, and regulatory compliance, even when the Service helps you prepare them.

Each party may receive non-public information from the other that is marked confidential or that a reasonable person would understand to be confidential, including Customer Data and non-public details of the Service (“Confidential Information”). The receiving party will use Confidential Information only to perform under these Terms, protect it with at least reasonable care, and disclose it only to its personnel and service providers who need it and are bound by similar obligations. These obligations do not apply to information that is or becomes public through no fault of the receiving party, was already known to it, is independently developed, or is rightfully received from a third party. A party may disclose Confidential Information when required by law, after giving reasonable notice where legally permitted.

We maintain reasonable administrative, technical, and physical safeguards designed to protect Customer Data, including encryption in transit, encryption of sensitive fields such as bank access tokens and taxpayer identification numbers, hashed passwords, role-based access controls, and audit logging. No system is perfectly secure. If we become aware of unauthorized access to Customer Data in our systems, we will notify you without undue delay and as required by law, and take reasonable steps to contain it. You are responsible for securing your own devices and accounts and for configuring Workspace permissions appropriately.

OwnFold and its licensors own the Service, including its software, design, templates, and documentation, and all related intellectual property rights. Subject to these Terms and payment of applicable fees, we grant you a limited, non-exclusive, non-transferable right during your subscription for your Authorized Users to use the Service for your internal business purposes. You may use templates and documents generated in your Workspace for your organization’s purposes. If you send us suggestions or feedback, we may use them without restriction or obligation to you.

These Terms apply from when you first use the Service until your Workspace is closed. You may stop using the Service and cancel your subscription at any time. We may suspend or terminate access, with notice where practical, if you materially breach these Terms and do not cure the breach within 15 days of notice, if fees remain unpaid after notice, or immediately if needed to prevent harm to the Service, other customers, or the public, or to comply with law.

After your subscription ends or your Workspace is closed, you may request an export of your Customer Data for 30 days. After that period we will delete or de-identify Customer Data within 90 days, except for copies held in routine backups until they expire and records we must keep to comply with law, resolve disputes, or enforce our agreements. Sections that by their nature should survive, including fees owed, Customer Data, confidentiality, disclaimers, limitation of liability, indemnification, and governing law, survive termination.

We will provide the Service with reasonable skill and care and in a manner consistent with its documentation. If the Service does not conform to that commitment, your exclusive remedy is for us to use reasonable efforts to correct the non-conformity or, if we cannot, for you to terminate the affected subscription and receive a refund of prepaid fees for the remaining term.

EXCEPT AS EXPRESSLY STATED IN THESE TERMS, THE SERVICE IS PROVIDED “AS IS” AND “AS AVAILABLE,” AND OWNFOLD DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT AI OUTPUT, CALCULATIONS, OR TEMPLATES WILL BE ACCURATE OR SUITABLE FOR YOUR PURPOSES, OR THAT THE SERVICE WILL MEET ANY LEGAL OR REGULATORY REQUIREMENT THAT APPLIES TO YOU.

TO THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PARTY WILL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR LOST PROFITS, REVENUE, GOODWILL, OR DATA, ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE, EVEN IF ADVISED OF THEIR POSSIBILITY.

TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY’S TOTAL LIABILITY ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE WILL NOT EXCEED THE AMOUNTS YOU PAID TO OWNFOLD FOR THE SERVICE IN THE 12 MONTHS BEFORE THE EVENT GIVING RISE TO THE CLAIM, OR US $100 IF GREATER.

These limits do not apply to your obligation to pay fees, to either party’s indemnification obligations, or to liability that cannot be limited by law.

You will defend, indemnify, and hold harmless OwnFold and its personnel from and against third-party claims, and related losses, damages, fines, and reasonable attorneys’ fees, arising from Customer Data, your or your Authorized Users’ use of the Service in violation of these Terms or applicable law, or any securities offering, tax filing, or governance action taken by your organization. OwnFold will give you prompt notice of the claim, reasonable cooperation at your expense, and control of the defense, provided you may not settle a claim that imposes obligations on OwnFold without its consent.

We continually improve the Service and may add, change, or remove features. We will not materially reduce the core functionality of your paid Plan during a prepaid term. We may update these Terms from time to time. If a change is material, we will notify you by email or in the Service at least 30 days before it takes effect, unless the change is required by law sooner. Continuing to use the Service after the effective date means you accept the updated Terms. If you do not agree, you may cancel before the change takes effect.

These Terms are governed by the laws of the State in which OwnFold is organized and by applicable United States federal law, without regard to conflict-of-laws principles. The United Nations Convention on Contracts for the International Sale of Goods does not apply.

Before filing a claim, each party agrees to try to resolve the dispute informally by contacting the other and negotiating in good faith for at least 30 days. If the dispute is not resolved, it will be decided exclusively by the state or federal courts located in the county of OwnFold’s principal place of business, and each party consents to their jurisdiction. Either party may seek injunctive relief in any court of competent jurisdiction to protect its intellectual property or Confidential Information.

• Assignment. Neither party may assign these Terms without the other’s consent, except that either party may assign them to a successor in a merger, acquisition, or sale of substantially all of its assets, with notice.
• Force majeure. Neither party is liable for delays or failures caused by events beyond its reasonable control, such as natural disasters, utility or internet failures, or third-party service outages, other than payment obligations.
• Notices. We may send notices to the email address associated with your Workspace administrators or through the Service. You may send notices to support@ownfold.com.
• Export and sanctions. You represent that you are not located in, or owned or controlled by persons in, a country or on a list subject to US sanctions, and you will not use the Service in violation of export laws.
• Relationship. The parties are independent contractors. There are no third-party beneficiaries of these Terms.
• Entire agreement. These Terms, our Privacy Policy, and any order form are the entire agreement between the parties about the Service. If any provision is unenforceable, the rest remains in effect. A failure to enforce a provision is not a waiver.

Questions about these Terms can be sent to support@ownfold.com or through our contact form.