Trust is a description of the relationship between people, which is embodied in the confirmation and granting of relevant property rights and obligations by law. Its effectiveness is realized through the operation of rights and obligations between beneficiaries and trustees designated by trust deed, and its essence is the confirmation and protection of sponsors' trust by law. Its establishment needs the transfer of trust property ownership, clear beneficiaries and clear distribution of trust property and income rights. That is, between the beneficiary and the trustee, the beneficiary does not enjoy any direct rights to the trust property, but enjoys similar claims based on the usufructuary right of the property in trust deed; At the same time, the trustee has formal ownership (nominal ownership and trust deed-based disposal right) over the trust property, but has no ownership over the income of the property (unless the beneficiary agrees), and has exclusive loyalty obligations to the beneficiary regarding the trust deed.
Capital is the expression of the existing form of property. From the perspective of legal composition, compared with trust, it does not need a clear beneficiary, but it needs a clear purpose of use. It can be established by means of trust, shares or debts. In the latter case, the transferor of the property can claim the residual distribution, income or creditor's rights of the transferred property, but the trustor in the trust relationship does not enjoy the property rights of the trust property from the date of transfer of the trust property; At the same time, the use of funds can be changed by the resolution of investors, but in theory, in the trust relationship, with the transfer of ownership of the trust property, the trust founder no longer has any intervention right on how to dispose of the trust property.
Crowdfunding, I think, is just a kind of fund-raising method recognized by the supervision, and the result is often a fund.
What are the differences and connections among trust, fund and crowdfunding? Sometimes consumer trust products are like crowdfunding, such as CITIC Trust's 100 1 night tour consumer trust products.
In addition, because trust is a property-based relationship between beneficiary and trustee, the establishment of trust is completed through the transfer of ownership (that is to say, since the establishment of trust, promoters and trustees no longer have any personal rights and property rights), so trust is not a pure contractual relationship, nor a trust relationship, and trust assets do not have independent legal status; The fund can exist in the form of a legal person.