International

Paying a Finder’s Fee When Raising Capital in the United States: The Success Fee Trap
When raising capital in the United States, companies often run into a common, very avoidable legal problem: paying a “success fee,” “commission,” or “finder’s fee” to the person who introduced an investor.
It feels fair. Someone made a valuable connection,

Authored by: Seagull Song and Wang Mo

In December 2025, the Hangzhou Internet Court held that the defendant, a generative AI service provider (the “Defendant”), was not liable for generating AI “hallucinations,” finding that the Defendant had fulfilled its reasonable duty of care, such as applying the common technological measures widely used in the AI