LOUD CAPITAL / CHICAGO BULLS "VENTURE COMPETITION" CONTEST OFFICIAL RULES
NO PURCHASE IS NECESSARY TO ENTER OR WIN THIS CONTEST. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING.
1. ADMINISTRATOR’S INFORMATION: The Contest is administered by LOUD Capital,LLC (“LOUD”), located at 550 West Washington, Suite 201, Chicago, IL 60661 (referred to herein as “Administrator”).
2. ELIGIBILITY: This Contest is open only to legal residents of Illinois who live within 150 mile radius of The United Center (1901 West Madison, Chicago, Illinois 60612) and who are 18 years of age or older at the time of entry. You need not be present to win. Employees (and their immediate families or those living in the same household) of Administrator, Chicago Professional Sports Limited Partnership (the “Bulls”), United Center Joint Venture (“UCJV”) the National Basketball Association and its Member Teams, NBA Properties, Inc., and their respective affiliates, subsidiaries, divisions, parent and related companies, suppliers, printers and advertising, promotional and judging agencies are not eligible to enter or win.
3. ENTRY PERIOD: The entry period for the Contest begins at 12:01 a.m. CT October 3, 2019 and ends at 11:59 p.m. CT on December 16, 2019. Entries received after this deadline will not be considered.
4. HOW TO ENTER: Beginning on October 3, 2019, you may enter the Contest via the Internet by going to the LOUD website (loud.vc) and/or Chicago Bulls (www.bulls.com/chicagobullsventurecompetition) website. You will be required to provide some or all of the following information: your name, age, address, city, state, zip code, telephone number, e-mail address, and business information. You will also be required to answer several questions about your submission that will assist in its evaluation and to submit a “pitch deck” in power point or pdf format and a video (up to 90 seconds in duration) that both summarize your concept and your need for and use of capital (collectively, the “Materials”).
The entrant must be the registered subscriber of the e-mail account noted in the entry. In the event of a dispute as to entries submitted by multiple users having the same e-mail account, the authorized subscriber of the e-mail account (as specified by the Internet Service Provider) used to enter the Contest at the actual time of entry will be deemed to be the entrant. Entries made by any individual or any entity other than the named entrant and/or originating at any other Internet website, including (but not limited to) commercial Contest subscription notification and/or entering service sites are void. Ineligible, incomplete and duplicate entries will be disqualified. All entries (including late or incomplete entries) become the property of Administrator and will not be returned. By submitting an entry, entrants acknowledge that Administrator has sole discretion to make determinations as to eligibility and its decisions are final.
5. PRIZE AND APPROXIMATE RETAIL VALUE: There will be one prize awarded: The Winner will receive a cash prize of Fifty Thousand Dollars (ARV: $50,000). Winner shall not be entitled to any additional prize, monetary or otherwise, not stated in these official rules, including but not limited to oral offers. All other expenses not specifically mentioned herein are not included in the prize.
All other expenses relating to participation in the Contest not explicitly stated herein, including but not limited to the Materials, taxes, legal and accounting expenses and transportation to and from judging sessions, are responsibility of Winner. Winner may receive less than 30 days’ notice prior to event. Certain restrictions may apply. Prize is non-transferable and no substitutions will be allowed, except at the sole discretion of Administrator. All details of prize not specified herein shall be determined solely by Administrator.
6. JUDGING: A total of up to 20 submissions will be selected on or about January 20, 2020 by the Administrator, whose decisions are final and binding in all matters relating to this Contest. The submissions will be evaluated and selected based on the following criteria: Strength of Management Team, Value Proposition/Unique Advantage, Relevance of Market Identification/Target Audience, Scalability, Intangibles and Funding Readiness, Impact on the Chicago community, Clarity and Presentation, and other categories as Administrator may deem fit.
Around the first week of March, 2020, the 20 selected startups will have a brief interview (in-person or via tele-conference) with a small panel of judges who will then decide on 5 finalists (the “Finalists”) to advance to the final stage based on the above-mentioned criteria.
In late-March, 2020 the Finalists will have the opportunity to give a short in-person pitch presentation (maximum of 5 minutes) to a panel of judges, selected by the Administrator in their sole discretion. The Winner will be chosen by the panel of judges, based on the Finalists’ pitches and the abovementioned criteria. Each of the Finalists will receive a pair of tickets to the Bulls home game on March 30, 2020 (ARV: $500). The Winner will be announced during the game. If the Winner is unable to attend the game on or around March 30, 2020, the Winner will be notified in-person, or by telephone, e-mail, or mail service on or about March 30, 2020. The Administrator shall be responsible nor liable for any changes in anticipated dates to those set forth herein.
7. PRIZE CONDITIONS: No substitution for the prize will be permitted. Prize is not transferable or assignable. Finalists will be required to execute and return an Affidavit of Eligibility and Publicity/Liability Release before participating in the final round in mid-March. Failure to return all required documents in this time period may result in the Finalist being disqualified and an alternate Finalist being selected or no replacement being selected. If an entrant is found to be ineligible or declines acceptance of the Prize for any reason, an alternate Winner may be selected.
8. CONDUCT OF PARTICIPATION: By entering the Contest, entrant affirms that he or she has read and agrees to abide by the Official Contest Rules and the decisions of the Administrator and judges. Administrator reserves the right to disqualify any entrant acting in violation of the Official Rules or found tampering with the entry process or with the operation of the Contest or the website. ANY ATTEMPT BY AN ENTRANT OR ANY OTHER INDIVIDUAL TO DELIBERATELY DAMAGE ANY WEB SITE RELATED TO ADMINISTRATOR OR THE CONTEST OR UNDERMINE THE LEGITIMATE OPERATION OF THE CONTEST MAY BE IN VIOLATION OF CRIMINAL AND CIVIL LAWS, AND SHOULD SUCH AN ATTEMPT BE MADE, ADMINISTRATOR RESERVES THE RIGHT TO SEEK DAMAGES FROM SUCH ENTRANT TO THE FULLEST EXTENT PERMITTED BY LAW.
9. LIMITATIONS OF LIABILITY: THE ADMINISTRATOR; BULLS, UCJV, THE NATIONAL BASKETBALL ASSOCIATION AND ITS MEMBER TEAMS; NBA PROPERTIES, INC.; AND EACH OF THEIR RESPECTIVE AFFILIATES, SUBSIDIARIES, PARENT CORPORATIONS, PARTNERS, MEMBERS AND THEIR RESPECTIVE OFFICERS, DIRECTORS, SHAREHOLDERS, EMPLOYEES AND AGENTS (COLLECTIVELY, THE “RELEASED PARTIES”), ARE NOT RESPONSIBLE FOR ANY INCORRECT OR INACCURATE ENTRY INFORMATION, THEFT, TAMPERING, DESTRUCTION, OR UNAUTHORIZED ACCESS TO, OR ALTERATION OF ENTRIES; PRINTING OR OTHER ERRORS; AND ANY ENTRIES OR MAIL WHICH ARE LATE, LOST, DELAYED, INCOMPLETE, MISDIRECTED, STOLEN, MUTILATED, ILLEGIBLE, POSTAGE DUE OR ANY COMBINATION THEREOF. ADMINISTRATOR RESERVES THE RIGHT TO MODIFY, SUSPEND OR TERMINATE THE CONTEST IN THE EVENT THAT IT BECOMES NECESSARY DUE TO CIRCUMSTANCES BEYOND ADMINISTRATOR’S CONTROL.
10. ENTRANT REPRESENTATIONS: By entering this Contest, entrants represent that they have not and will not engage in any fraud, criminal activity, misrepresentations, or any other activity that would result in civil or criminal liability with regards to the startup business. Entrants further represent that they own the intellectual property, and have the right to use any logos, marks or pictures included in any part of this Contest.
11. RELEASE OF LIABILITY: By participating, entrants agree to release, discharge, indemnify and hold harmless the Released Parties from and against any claims made by the Winner, entrants or any other third parties related in any way to the operation of this Contest, as well as any other claims, damages or liability due to any injuries, damages or losses (whether alleged, threatened, or actual) person (including death) or property of any kind resulting in whole or in part, directly or indirectly, from acceptance, possession, misuse or use of any prize or participation in any Contest-related activity or participation in this Contest. Furthermore, by entering the Contest and submitting the Materials, each entrant agrees and consents, without further authorization, compensation or remuneration of any kind, to the Administrator, Bulls, UCJV, the National Basketball Association and its Member Teams and NBA Properties, Inc. the right to the use of such entrant’s name, age, photograph, likeness and/or image, hometown address, contents of the submission including the pitch deck, video and all submission materials in any and all advertising, promotions and other publicity conducted carried out by the above parties.
12. DISPUTES: Except where prohibited, by participating, each Prize Winner and entrant further agrees that: (a) any and all disputes, claims, and causes of action arising out of or in connection with the Contest, or any prizes awarded, shall be resolved individually without resort to any form of class action; (b) any claims, judgments, and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering the Contest, but in no event attorney’s fees, and (c) under no circumstances will any Prize Winner or entrant be permitted to obtain any punitive, incidental or consequential damages. The Contest is governed by the laws of the state of Illinois and, by entering; all entrants hereby agree that any dispute relating to or arising from this Contest shall be filed in the federal, state and local courts located in Chicago, Illinois.
13. WINNERS LIST: For a list of the Finalists and winner (available after April 15, 2020), send a self-addressed, stamped, envelope by April 30, 2020 to: Loud Capital Chicago Bulls Venture Competition, 550 West Washington St., Chicago, Illinois 60661.
THIS CONTEST IS VOID WHERE PROHIBITED OR RESTRICTED BY LAW.
The Chicago Bulls is a registered trademark of Chicago Professional Sports Limited Partnership and the National Basketball Association and is used with permission.