THANK YOU FOR VISITING THE STOUT WEBSITE. PLEASE READ THESE TERMS (the “Terms”) CAREFULLY BEFORE USING THIS WEBSITE accessible via www.stout.com (the “Website”). BY USING THIS WEBSITE YOU INDICATE THAT YOU HAVE READ, UNDERSTAND AND ACCEPT THESE TERMS. IF YOU DO NOT ACCEPT THESE TERMS, DO NOT USE THIS WEBSITE.

General information

Stout is a trade name for Stout Risius Ross, LLC, Stout Advisors SA, Stout Bluepeak Asia Ltd, Stout GmbH, MB e Associati S.r.l., Stout Park Ltd, and Stout Capital, LLC, a FINRA-registered broker-dealer and SIPC member firm. The terms “Stout” or the “firm” refer to one or more of these legally separate and independent advisory practices.

Stout Capital, LLC, in compliance with FINRA and SEC regulations, maintains a comprehensive business continuity plan designed to ensure client service in the event of a localized or general business disruption. A detailed overview of our systems and procedures is available to all clients upon request.

Stout Park Ltd is a limited liability company registered in England and Wales at Companies House. Its registered office is at Stout Park Ltd, 57 Grosvenor Street, London, W1K 3JA and its company number is 08923987.

Stout Park Ltd is an Appointed Representative of Sturgeon Ventures LLP FRN # 452811 who is authorized and regulated by the Financial Conduct Authority (the FCA) and entered on the FSA Register with the firm identification number FRN # 621662.

Requirements to Use the Website

If you are an individual, you represent and warrant that you have reached the age of majority in the jurisdiction in which you reside, and that you are in any event at least 18 years old.

If you are using the Website on behalf of a corporation or other organization, you represent and warrant that you have the ability to agree to these Terms on behalf of such organization and all references to "you" throughout these Terms will include such organization, jointly and severally with you personally.

Informational purposes only

The Website and content available within is for informational purposes only. Neither the Website nor the content available within constitutes legal, financial, accounting, or other professional advice, and neither should be relied upon by you or any third party, including to operate or promote your business, secure financing or capital in any form, obtain any regulatory or governmental approvals, or otherwise be used in connection with procuring services or other benefits from any entity. Stout assumes no liability for readers’ use of the information herein and please note, before making any decision or taking any action, you should consult with legal and professional advisers.

All opinions expressed on this website and in posted articles are those of the authors and do not necessarily reflect the views of Stout Risius Ross, LLC, Stout Advisors SA, Stout Bluepeak Asia Ltd, Stout GmbH, MB e Associati S.r.l., Stout Park Ltd or Stout Capital, LLC.

Acceptable conduct

You will use the Website only for lawful purposes. If at any time you become aware of any violation, by any person or entity, of any part of these Terms, you will immediately notify us by contacting us here and provide us with assistance, as requested, to stop or remedy such violation.

Content

Except where expressly stated otherwise, all right, title, and interest in and to the Websites source code, processes, designs, technologies, URLs, domain names, marks, and logos forming any part of the Websites and the intellectual property rights therein or to the related HTML, text, images, audio clips, video clips, tools, data, software, information, materials and other content (collectively, the “Content”) are (a) fully vested in Stout, our licensors, or our suppliers and (b) protected by applicable copyrights, trademarks, patents, trade secrets, or other proprietary rights and laws. Except as provided in these Terms, Stout prohibits the redistribution or copying of any Content on this website without its express written permission.

Stout hereby authorizes you to display on your computer, download and print pages of this Website, subject to the following provisions: (i) the copyright notice appears on all such printouts; (ii) the information will not be altered in any manner; and (iii) the Content is only to be used for personal educational and non-commercial use and will not be redistributed, broadcast or copied to any other media.

Trademark

The trademarks, logos, and service marks displayed on this Website are registered and unregistered trademarks of Stout and others. Nothing contained on this Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this Website without the express written permission of Stout or such third party that may own the trademarks displayed on this Website. Your misuse of the trademarks displayed on this Website, or any other Content on this Website is strictly prohibited.

Open Source

The Website may include open source components, which are licensed for use and distribution by us under applicable open source licenses. Use of these open source components is governed by and subject to the terms and conditions of the applicable open source license.

User Submissions

For an explanation of the practices and policies of Stout related to the collection, use and storage of our users’ information, please read our Privacy Policy. We may monitor use of the Website from time to time but have no obligation to do so. If and when we do monitor your use of the Website, we will do so in accordance with applicable law.

Restrictions

In using the Website, you shall not do any of the following:

  • Make available through the Website any materials that are or may be: (a) threatening, harassing, degrading, hateful or intimidating, or otherwise fail to respect the rights and dignity of others; (b) defamatory, libelous, fraudulent or otherwise tortious; (c) obscene, indecent, pornographic or otherwise objectionable; or (d) a virus, worm, Trojan horse, Easter egg, time bomb, spyware or other computer code, file or program that is or is potentially harmful or invasive or intended to damage or hijack the operation of, or to monitor the use of, any hardware, software or equipment (each, a “Virus”).
  • Make available through the Website any material protected by copyright, trademark, trade secret, right of publicity or privacy or any other proprietary right, without the express prior written consent of the applicable owner.
  • Use the Website for any commercial purpose or for processing data or other information on behalf of any third party.
  • Use the Website for any purpose that is fraudulent, tortious or unlawful.
  • Interfere with or disrupt the operation of the Website or the servers or networks used to make the Website available, including by hacking or defacing any portion of any of the Website; or violate any requirement, procedure or policy of such servers or networks.
  • Restrict or inhibit any other person from using the Website.
  • Create or share content without first obtaining any necessary permissions from third parties or otherwise use the Website to post or transmit any information that you do not have the right to provide; that would violate any applicable law or regulation; or that would violate, infringe or misappropriate any third party right or interest.
  • Reproduce, modify, adapt, translate, create derivative works of, sell, rent, lease, loan, timeshare, distribute or otherwise exploit any portion of (or any use of) the Website except as expressly authorized herein, without Stout’s express prior written consent.
  • Reverse engineer, decompile or disassemble any portion of any of the Website, except where such restriction is expressly prohibited by applicable law.
  • Remove or alter any copyright, trademark or other proprietary rights notice on the Website or content you access via the Website.
  • Frame or mirror any portion of the Website, or otherwise incorporate any portion of the Website into any product or service, without Stout’s express prior written consent.
  • Systematically download and store any Content.
  • Use any robot, spider, Website search/retrieval application or other manual or automatic device to (a) retrieve, index, “scrape,” “data mine” or otherwise gather content from the Website, (b) reproduce or circumvent the navigational structure or presentation of the Website, or (c) harvest or collect information about users of the Website without Stout’s express prior written consent.

If you do not comply with these Terms (or if we have reasonable grounds to suspect or are investigating suspected non-compliance), we may suspend your access to the Website or take any other steps we consider appropriate.

External Links

Stout may provide links to third party websites, and some of the content appearing to be on this Website may in fact be supplied by third parties (e.g. instances of framing of third party websites or incorporation of content through framesets). Stout assumes no liability for any damages you may suffer from visiting such linked websites, including without limitation, damages caused by computer viruses, Trojan horses or other destructive/disruptive code which may be downloaded from such linked websites.

Any links contained on this Website shall not be construed as an endorsement by Stout of any such linked website. Stout has not reviewed or researched the full content on these linked websites and shall not be held responsible should you encounter any materials that may appear inaccurate, indecent or illegal. If you visit such a website that is linked to this Website, please contact Marketing@stout.com and we will determine if the link should be removed from this Website.

You may not provide a link to this Website without our express written permission. If you would like to provide a link to this Website, please contact Marketing@stout.com.

Warranties and Disclaimer

STOUT MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND ABOUT THE WEBSITE OR THE CONTENT, INFORMATION, MATERIALS, TOOLS, APPLICATIONS, SOFTWARE, ETC. WITHIN, WHICH ARE PROVIDED “AS IS” AND “AS AVAILABLE.” TO THE MAXIMUM EXTENT PERMITTED BY LAW, STOUT EXCLUDES AND DISCLAIMS ALL EXPRESS, IMPLIED, AND STATUTORY WARRANTIES WITH RESPECT TO THE SAME, INCLUDING WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, COMPLETENESS, TITLE, NON-INFRINGEMENT OF INTELLECTUAL PROPERTY, NON-INTERFERENCE, ERROR-FREE SERVICE, AND UNINTERRUPTED SERVICE. STOUT DISCLAIMS ALL LIABILITY AND RESPONSIBILITY FOR ANY ERRORS OR OMISSIONS IN THE CONTENT, INFORMATION, MATERIALS, TOOLS, APPLICATIONS, SOFTWARE, ETC. CONTAINED ON THIS WEBSITE. BY MAKING AVAILABLE THE WEBSITE, STOUT IS NOT MAKING AN OFFER OF ANY FINANCIAL, TAX, ACCOUNTING, LEGAL OR OTHER PROFESSIONAL SERVICES OR GOODS, AND THE INFORMATION PRESENTED ON THE WEBSITES SHOULD NOT BE CONSTRUED AS LEGAL, TAX, ACCOUNTING OR ANY OTHER PROFESSIONAL ADVICE OR SERVICE. STOUT DOES NOT REPRESENT OR WARRANT THAT THE WEBSITE, CONTENT, MATERIALS AND INFORMATION PROVIDED THROUGH THE WEBSITE, OR TOOLS, APPLICATIONS, SOFTWARE OR INFORMATION ACCESSIBLE FROM THE WEBSITE WILL BE ACCURATE, CURRENT, UNINTERRUPTED, ERROR-FREE, OMISSION-FREE, OR FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS.

Although Stout uses reasonable efforts to maintain the accuracy and timeliness of the Content of this Website, Stout makes no warranties or representations as to its accuracy or timeliness or with respect to the functionality or availability of the Website or the Content and with no guarantee that the Website or the Content are complete, accurate, or timely, nor any guarantee regarding any results you or others may obtain from use of the Website or the Content. This website may contain typographical errors and technical inaccuracies. Stout assumes no liability or responsibility for any errors or omissions in the Content of this website. Stout assumes no responsibility or liability for, does not endorse or support and expressly disclaims any positions, policies, studies, assumptions, conclusions, statements, assertions or implications with respect to any or your use of the Content, information or materials on the Website.

Although Stout uses reasonable efforts to ensure that all application, tools, etc. provided at this Website is suitable for use on a wide variety of computer systems, you should take reasonable and appropriate precautions to scan for computer viruses and ensure compatibility of the application, tools, etc. with your specific computer system. Stout may update and/or modify the information contained on this Website at any time and without notice.

Limitation of Liability

THE WEBSITE AND THE CONTENT WITHIN ARE PROVIDED FOR INFORMATION PURPOSES ONLY, AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL STOUT, ITS AFFILIATES, AGENTS OR OTHER THIRD PARTIES MENTIONED IN THIS WEBSITE BE LIABLE FOR ANY LOSS OR DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES RESULTING FROM LOST PROFITS, LOSS OF PROSPECTIVE ECONOMIC ADVANTAGE, LOST DATA OR BUSINESS INTERRUPTION) ARISING OUT OF THE USE, INABILITY TO USE, OR THE RESULTS OF USE OF THIS WEBSITE, MATERIALS YOU OBTAIN VIA THE WEBSITE, ANY WEBSITES LINKED TO THIS WEBSITE, OR THE CONTENT CONTAINED ON ANY OR ALL SUCH WEBSITES, WHETHER BASED ON WARRANTY, CONTRACT, TORT OR ANY OTHER LEGAL THEORY AND WHETHER OR NOT ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR FOR ANY CLAIM BY ANOTHER PARTY. IF YOUR USE OF THE CONTENT ON THIS WEBSITE RESULTS IN THE NEED FOR SERVICING, REPAIR OR CORRECTION OF EQUIPMENT OR DATA, YOU ASSUME ALL COSTS THEREOF.

You acknowledge and accept that use of the Website is subject to the risks inherent in any connection and transmission on the internet, in particular in relation to security risks and vulnerabilities, technical performance and risk of interruption. Accordingly, Stout is not liable to you in any circumstances for any losses or damages caused by disruption or failure of internet networks or for any interruptions to or restrictions on the accessibility of the Website arising for any reason, including, but not limited to, by reason of a virus, security related vulnerability, or technical or operational failure of any nature.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, STOUT DISCLAIMS ALL LIABILITY AND SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOST PROFITS OR REVENUES, GOODWILL, WORK STOPPAGE, SECURITY BREACHES, VIRUSES, COMPUTER FAILURE OR MALFUNCTION, USE, DATA OR OTHER INTANGIBLE LOSSES OR COMMERCIAL DAMAGES, EVEN IF ANY OF SUCH PARTIES ARE ADVISED OF THE POSSIBILITY OF SUCH LOSSES, ARISING UNDER OR IN CONNECTION WITH THESE TERMS, THE SITE, THE USE OF OR INABILITY TO USE THE SAME, OR ANY OTHER SUBJECT MATTER HEREOF.

THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, STOUT SHALL NOT BE RESPONSIBLE OR LIABLE TO YOU OR ANY OTHER PERSON FOR ANY ERRORS OR OMISSIONS IN THE WEBSITE; ANY CONTENT, INFORMATION OR MATERIALS MADE AVAILABLE THROUGH IT; ANY DECISION MADE OR ACTION TAKEN IN RELIANCE ON THE WEBSITE OR THE CONTENT OR INFORMATION MADE AVAILABLE THROUGH IT; OR FOR ANY LOSS OR DAMAGES - INCLUDING CONSEQUENTIAL, SPECIAL OR SIMILAR DAMAGES - THAT ARISE OUT OF OR IN CONNECTION WITH YOUR USE OF THE WEBSITE OR ANY CONTENT, INFORMATION OR MATERIALS ACCESSED OR OBTAINED BY YOU VIA OR IN CONNECTION WITH THE WEBSITE.

Indemnification

To the maximum extent permitted by applicable law, you agree to defend (at the indemnified party’s option), indemnify, and hold Stout and their insurers harmless from and against any and all losses, damages, liabilities, costs (including reasonable attorneys’ fees) and expenses in connection with any claim arising out of or in connection with any content or information posted or transmitted by you using the Website or otherwise arising out of your use of the Website or use of the Website by any third party who is given or gains access to the Website due to your action or inaction. Stout has the right at any time to forego the indemnification and assume the defense of any claim. Notwithstanding the foregoing, it is not the intent of Stout to affect the rights of Stout or their insurers to assume the defense or settlement of any claim against Stout for which insurance coverage is sought under any applicable insurance policy.

General

If you breach or violate any of these Terms, we may suspend, restrict or terminate your use of the Website without notice, in our sole and absolute discretion, and your authorization to use this Website automatically terminates and you must immediately destroy any downloaded or printed Content. Stout will aggressively enforce its intellectual property rights to the fullest extent of the law. If you do not comply with these Terms, and we do not take action immediately, this does not mean Stout is giving up any rights that we may have (such as taking action in the future). Any cause of action you may have with respect to these Terms or the Website must be commenced within one year after the claim or cause of action arose, or it will be barred. We may at any time assign our rights and obligations under these Terms, in whole or in part, without notice to you. You may not assign these Terms without our prior, written consent. These Terms will inure to the benefit of and bind you and us and our respective personal and legal representatives, successors and permitted assigns. You agree that no joint venture, partnership, fiduciary, employment or agency relationship exists between us and you as a result of these Terms or use of the Website. These Terms, as amended from time to time, including any and all documents, rules, terms and policies referenced herein, including but not limited to the Privacy Policy, constitutes the entire agreement between us and you with respect to your use of the Website. The parties have requested and agree that these Terms and all documents relating thereto be drawn up, construed and governed in the English (USA) language. If any provision of these Terms shall be unlawful, void or unenforceable for any reason, then any such provision shall be deemed severable to the extent that it is lawful, void or unenforceable, but shall not affect the validity or enforceability of the remaining provisions. These terms are governed by the laws of the State of New York and the laws of the United States of America applicable therein without reference to the principles of conflicts of laws thereof. Any dispute arising from these Terms shall be resolved exclusively in the United States of America by the U.S. Federal Courts located in the State of New York.

By using this Website, you agree to be bound by these Terms and consent to the collection, use and storage of your information by Stout in the manner described in our Privacy Policy. Stout reserves the right to make changes to these Terms and our Privacy Policy from time to time. When using this Website, you should review the current Terms and Privacy Policy to determine if they have been amended since your last visit.