CROWDFUNDING SYSTEMS: evaluation and government regulation in the conditions of reengineering

lending, and other related concepts. In addition, the development of the conceptual framework will allow us to distinguish crowdfunding activities from other types of crowdtechnologies, namely: crowdsourcing, crowdmarketing, crowdtesting, crowdcomputing, and the like. It also forms the foundation for the correct interpretation of these concepts by all entities that are directly or indirectly related to crowdfunding, including public authorities. This creates conditions for improving the legal framework for crowdfunding in Ukraine in the future. 3. The advantages and disadvantages of crowdfunding as a method of accumulating funds are systematized. Among the main advantages for recipients are: a significant potential amount of funding; the ability to assess the potential of a newly created enterprise; free analysis and the ability to improve the potential product by consumers; creating a client base; low cost of capital raised; the recipient remains the business owner and the only one who controls the project in all cases, except for crowdinvesting. In turn, the disadvantages of crowdfunding are the ability to copy or steal an idea; conditions of high competition; limited funds (the rule of accumulating 100% of the goal); the commission of crowdfunding platforms; non-universality (not all projects will be accepted by crowdfunding platforms); the permanence and significant amount of work of the recipient. 4. Crowdfunding projects are classified according to a number of significant and independent features. Among the existing features of the typology, the following ones are systematized and taken into account: the duration of the crowdfunding project, the directions of financial resources investment, and the method of rewarding contributors. It is proposed to add a level of novelty and channels of information about the project to the existing classification criteria. In the first case, this allowed us to identify projects that are non-innovative (aimed at implementing or creating existing ideas, products, services, events), radical (aimed at the creation of a certain innovative product, service, etc.) and modernizing crowdfunding projects (the goal is to improve certain existing goods and services). In the second case, there are projects with a direct information channel (a situation when contributors and investors receive information about a project for the first time on a crowdfunding platform) and projects with an indirect information channel (when interested donors and investors who already know about a certain project are looking for the appropriate crowdfunding platform where it is placed, register purposefully and finance it). The existence of a complete typology of crowdfunding projects 134