Terms and Conditions

1. Acceptance of Terms

These Terms and Conditions (“Terms,” “Agreement”) constitute a legally binding agreement between you (“User,” “you,” “your”) and VentureBoard (“Company,” “we,” “us,” “our”), governing your access to and use of the VentureBoard platform, including our website at ventureboard.ai, web application, mobile applications, application programming interfaces (APIs), and all related services (collectively, the “Platform” or “Services”).

By creating an account, accessing, or using the Platform in any manner, you acknowledge that you have read, understood, and agree to be bound by these Terms, our Privacy Policy (available at ventureboard.ai/privacy), our Acceptable Use Policy, and any additional guidelines or policies referenced herein (collectively, the “Agreement”). If you are entering into this Agreement on behalf of a company, organization, or other legal entity, you represent and warrant that you have the authority to bind that entity to these Terms.

If you do not agree to these Terms, you must immediately cease all use of the Platform. Your continued access to or use of the Platform following the posting of any changes to these Terms constitutes acceptance of those changes.

2. Definitions

In these Terms, the following terms have the meanings ascribed to them below:

• “AI Advisors” means the twenty (20) specialized artificial intelligence advisory personas available on the Platform, each powered by large language models and configured with distinct expertise areas and system prompts. In accordance with Article 50 of the EU AI Act, AI Advisors are AI systems — not human advisors.
• “AI Model Providers” means the third-party companies whose large language models (LLMs) power our AI Advisors, currently including Anthropic (Claude) and OpenAI (GPT-4), and any additional providers we may engage in the future.
• “Business Artifacts” means the structured business documents generated through your interactions with AI Advisors, including but not limited to business model canvases, financial projections, marketing plans, pitch deck outlines, competitive analyses, and other strategic deliverables (up to 38 document types).
• “Content” means all text, data, information, images, files, and other materials submitted to, generated by, or displayed on the Platform.
• “Input” or “Prompts” means all text, data, instructions, questions, and other information you submit to the Platform or to AI Advisors.
• “Output” means all AI-generated responses, recommendations, analyses, Business Artifacts, and other content produced by the AI Advisors in response to your Input.
• “Subscription” means the paid service plan you have selected, which governs the scope of features, usage limits, and pricing applicable to your account.
• “User Data” means any personal data, business data, or other information provided by you or collected from you in connection with your use of the Platform.
• “Multi-Agent Debate” means the Platform feature whereby multiple AI Advisors engage in a structured discussion or debate on a topic, producing diverse perspectives and recommendations.

3. Description of Services

3.1 Platform Overview

VentureBoard is an AI-powered virtual advisory board platform that provides entrepreneurs, solopreneurs, startup founders, small businesses, and creative agencies with access to a panel of 20 AI Advisors. These AI Advisors are designed to simulate board-level strategic thinking across multiple business disciplines, including but not limited to strategy, finance, marketing, technology, legal, human resources, operations, product development, and investor relations.

3.2 Core Features

• Advisory Sessions: Interactive conversations with one or more AI Advisors who provide strategic guidance based on your Input
• Multi-Agent Debate: Structured discussions among multiple AI Advisors offering diverse perspectives on business challenges
• Business Artifact Generation: Creation of up to 38 types of structured business documents derived from advisory sessions
• Context Management: Intelligent session context handling that maintains continuity across extended strategic discussions
• Prompt Caching: Temporary caching (maximum 5 minutes) of session data to improve performance and reduce latency

3.3 Nature of Services

IMPORTANT NOTICE: The Platform provides AI-generated information and strategic perspectives for informational and educational purposes only. VentureBoard is NOT a substitute for professional legal, financial, tax, accounting, investment, medical, or other licensed professional advice. The AI Advisors are artificial intelligence systems, not licensed professionals, human consultants, or fiduciaries. You should always consult qualified professionals before making significant business, legal, financial, or personal decisions.

4. Account Registration & Eligibility

4.1 Eligibility

To use the Platform, you must be at least eighteen (18) years of age or the age of legal majority in your jurisdiction, whichever is higher. If you are entering into these Terms on behalf of a legal entity, you represent that you are authorized to bind that entity. The Platform is designed for business professionals and is not intended for use by consumers under 18 years of age.

4.2 Account Creation

You must register for an account to access most features of the Platform. When registering, you agree to provide accurate, current, and complete information and to update such information as necessary. You are solely responsible for maintaining the confidentiality of your account credentials (including passwords and API keys) and for all activities that occur under your account.

4.3 Account Security

You must immediately notify us at inquiries@ventureboard.ai if you become aware of any unauthorized access to or use of your account. VentureBoard will not be liable for any loss or damage arising from your failure to secure your account credentials. We reserve the right to suspend or terminate accounts that we reasonably believe have been compromised.

4.4 One Account Per User

Each individual may maintain only one personal account unless expressly authorized in writing by VentureBoard. Business accounts may have multiple authorized users as permitted by the applicable Subscription plan.

5. Subscription Plans, Fees & Payment

5.1 Subscription Plans

VentureBoard offers various Subscription plans, each with different features, usage limits, and pricing tiers. The current plans, their features, and pricing are described on our pricing page at ventureboard.ai/pricing. We reserve the right to modify, add, or remove Subscription plans at any time upon reasonable notice.

5.2 Fees & Billing

All fees are quoted in the currency displayed at checkout and are exclusive of applicable taxes unless stated otherwise. Subscriptions are billed in advance on a recurring basis (monthly or annually, depending on your selection). You authorize us to charge your designated payment method for all applicable fees and taxes.

5.3 Automatic Renewal

Subscriptions automatically renew at the end of each billing period unless you cancel before the renewal date. We will notify you at least fourteen (14) days before any price increase takes effect on your next renewal. You may cancel auto-renewal at any time through your account settings.

5.4 Refunds

For EU/EEA consumers: You have the right to withdraw from a Subscription within fourteen (14) days of purchase without giving any reason, in accordance with the EU Consumer Rights Directive (2011/83/EU), unless you have explicitly consented to the immediate provision of digital content and acknowledged the loss of your withdrawal right. For all users: Except as required by applicable law, fees are non-refundable. If you believe you are entitled to a refund, contact inquiries@ventureboard.ai.

5.5 Taxes

You are responsible for all applicable taxes (including VAT, GST, sales tax, and withholding taxes) arising from your use of the Platform, except for taxes based on VentureBoard's net income. If VentureBoard is required to collect or remit taxes on your behalf, such amounts will be invoiced to you and added to your billing. VAT will be applied in accordance with EU VAT Directive 2006/112/EC and Bulgarian VAT Act (Закон за данък върху добавената стойност) where applicable.

5.6 Late Payments & Suspension

If any payment is overdue, VentureBoard may: (a) charge interest on overdue amounts at the rate of 1.5% per month or the maximum rate permitted by applicable law, whichever is lower; (b) suspend your access to the Platform until all outstanding amounts are paid; and (c) engage collection agencies or pursue legal remedies to recover unpaid amounts.

6. Free Tier & Trial Terms

VentureBoard may offer free tiers, free trials, or promotional access to certain features of the Platform. Free and trial access is provided at our sole discretion, subject to the following:

• Free tiers and trials may be subject to usage limits, feature restrictions, and time limitations
• We reserve the right to modify, suspend, or discontinue free tier or trial access at any time without prior notice
• Free tier and trial services are provided “AS IS” without any warranties or service level commitments
• We may require a valid payment method to activate a trial, but will not charge you until the trial period expires unless you opt into a paid Subscription
• If you do not cancel before the end of a trial period, your trial may automatically convert to a paid Subscription

All other provisions of these Terms apply equally to free tier and trial users unless expressly stated otherwise.

7. Acceptable Use Policy

You agree to use the Platform only for lawful purposes and in accordance with these Terms. When using the Platform, you shall:

• Comply with all applicable local, national, and international laws and regulations
• Provide accurate, truthful, and non-misleading information when interacting with the Platform
• Respect the intellectual property rights of VentureBoard, its AI Model Providers, and third parties
• Use Output for your legitimate business purposes, subject to the AI-specific disclaimers in Sections 9 and 10
• Maintain the security and confidentiality of your account credentials
• Promptly report any vulnerabilities, bugs, or security issues to inquiries@ventureboard.ai
• Use the Platform in a manner consistent with its intended purpose as a business advisory tool

8. Prohibited Uses

You shall NOT use the Platform, directly or indirectly, to:

8.1 Illegal & Harmful Activities

• Violate any applicable law, regulation, or legal obligation in any jurisdiction
• Facilitate, promote, or engage in fraud, money laundering, terrorist financing, or any other criminal activity
• Generate content that constitutes hate speech, harassment, threats, incitement to violence, or discrimination
• Create, distribute, or facilitate child sexual abuse material (CSAM) or any content exploiting minors
• Generate content designed to defame, libel, or maliciously damage the reputation of any individual or entity
• Engage in or facilitate any activity prohibited under the EU AI Act Article 5 (Prohibited AI Practices), including social scoring, subliminal manipulation, or exploitation of vulnerabilities

8.2 Misrepresentation & Deception

• Represent AI-generated Output as human-created professional advice (legal, financial, medical, tax, or otherwise) without appropriate disclaimers
• Use Output to create deepfakes, synthetic media for deception, or disinformation campaigns
• Impersonate any person, entity, or organization, or falsely claim affiliation with any person or entity
• Present VentureBoard's AI Advisors as real human consultants, board members, or licensed professionals
• Use Output in regulatory filings, legal proceedings, or official documents without independent professional review and verification

8.3 Technical Abuse

• Attempt to reverse engineer, decompile, disassemble, or extract source code, algorithms, model weights, system prompts, or training data from the Platform or its AI components
• Use automated scripts, bots, scrapers, crawlers, or other automated means to access the Platform beyond the intended interfaces (unless explicitly authorized via our API)
• Attempt to circumvent usage limits, rate limits, safety filters, content policies, or other technical restrictions
• Probe, scan, or test the vulnerability of the Platform or breach any security or authentication measures
• Introduce viruses, malware, trojans, worms, or other malicious code
• Interfere with or disrupt the integrity or performance of the Platform or its infrastructure

8.4 Competitive & Extraction Activities

• Use the Platform to develop, train, fine-tune, or improve any competing AI product, service, model, or technology
• Systematically extract, scrape, harvest, or compile Output to create datasets, databases, or corpora for any purpose
• Benchmark the Platform against competing services and publish results without our prior written consent
• Resell, sublicense, redistribute, or commercially exploit access to the Platform or its Output to third parties, unless expressly authorized by your Subscription plan
• Use the Platform's Output to train, distill, or fine-tune any machine learning model or AI system

8.5 High-Risk & Regulated Uses Without Safeguards

Without VentureBoard's prior written consent and implementation of appropriate safeguards, you shall not use the Platform for:

• Automated decision-making that produces legal effects or similarly significant effects on individuals
• Use in critical infrastructure, medical devices, weapons systems, or safety-critical applications
• Use as the sole basis for decisions in employment, credit, insurance, housing, education, or law enforcement
• Real-time biometric identification or surveillance of individuals
• Any use classified as “high-risk” under the EU AI Act (Regulation 2024/1689) without implementing the required conformity assessment and human oversight measures

VentureBoard reserves the right to immediately suspend or terminate your account for any violation of this Section 8, without prior notice and without liability.

9. AI-Specific Terms & Disclaimers

9.1 Nature of AI Services

You acknowledge and agree that:

• The Platform's AI Advisors are powered by large language models (LLMs) from third-party AI Model Providers. These are probabilistic systems that generate responses based on statistical patterns, not deterministic knowledge or expertise.
• AI Advisors do not possess consciousness, understanding, judgment, professional qualifications, or the ability to verify facts. They generate responses that may appear authoritative but are fundamentally statistical predictions.
• Outputs may contain inaccuracies, fabrications (“hallucinations”), outdated information, biases, logical errors, or content that is incomplete, misleading, or unsuitable for your specific circumstances.
• Identical or substantially similar Inputs may produce different Outputs at different times, and different users may receive substantially similar Outputs for similar Inputs.
• The Platform does not have access to real-time data, market conditions, current legal frameworks, or your complete business context beyond what you provide in your sessions.

9.2 No Professional Advice

CRITICAL DISCLAIMER: VentureBoard provides AI-generated strategic perspectives and business frameworks for informational purposes only. Output does NOT constitute and should NOT be relied upon as:

• Legal advice or legal opinion from a licensed attorney or solicitor
• Financial advice from a registered financial advisor, broker, or investment professional
• Tax advice from a qualified tax advisor or accountant
• Medical, psychological, or health-related advice from a licensed healthcare professional
• Certified public accounting or auditing services
• Professional engineering, architectural, or technical certification
• Advice from a fiduciary acting in your best interest

You assume full responsibility for any actions taken based on Output. VentureBoard strongly recommends that you independently verify all Output and consult qualified professionals before making any significant business, legal, financial, or personal decisions.

9.3 No Guarantee of Results

VentureBoard makes no representations, warranties, or guarantees that the use of the Platform will result in any particular business outcome, including but not limited to: securing funding, increasing revenue, improving profitability, achieving market success, or any other business objective. Past use by other users or case studies do not guarantee future results.

9.4 AI Model Provider Dependencies

The Platform depends on third-party AI Model Providers (currently Anthropic and OpenAI) for core functionality. You acknowledge that: (a) these providers may modify, deprecate, or discontinue their models or APIs at any time; (b) such changes may affect the quality, availability, or functionality of our Services; (c) we do not control the underlying AI models and cannot guarantee their behaviour; and (d) we are not liable for any changes, disruptions, or limitations imposed by AI Model Providers.

9.5 EU AI Act Transparency

In compliance with the EU AI Act (Regulation 2024/1689), VentureBoard confirms that: (a) all AI Advisors are AI systems, not humans; (b) the Platform is classified as a limited-risk AI system under the Act's risk framework; (c) in-product labels and disclosures clearly identify AI-generated content; (d) we comply with AI literacy requirements under Article 4; and (e) we comply with transparency obligations under Article 50.

10. AI Output Accuracy & Limitations

10.1 Output Accuracy

YOU ACKNOWLEDGE THAT AI-GENERATED OUTPUT MAY CONTAIN ERRORS, INACCURACIES, FABRICATIONS, OR OMISSIONS. VENTUREBOARD DOES NOT WARRANT THE ACCURACY, RELIABILITY, COMPLETENESS, TIMELINESS, OR SUITABILITY OF ANY OUTPUT FOR ANY PURPOSE. YOU ARE SOLELY RESPONSIBLE FOR EVALUATING, VERIFYING, AND INDEPENDENTLY FACT-CHECKING ALL OUTPUT BEFORE RELYING ON OR ACTING UPON IT.

10.2 User's Duty to Verify

You accept a duty to independently verify all Output, particularly before using it in any of the following contexts: investment decisions, legal filings, regulatory submissions, contractual obligations, financial statements, tax returns, public disclosures, employment decisions, medical decisions, or any context where inaccurate information could result in financial loss, legal liability, or harm to you or others.

10.3 Output Not Unique

Due to the nature of large language models, Output may not be unique. Other users may receive similar or identical Output in response to similar queries. VentureBoard does not guarantee the exclusivity, originality, or novelty of any Output.

10.4 Bias & Fairness

AI models may reflect biases present in their training data. While VentureBoard takes reasonable measures to mitigate bias through system prompt design and content filtering, we cannot guarantee that Output will be free from bias, stereotyping, or unfair treatment. You should evaluate Output critically and not rely on it for decisions that could have discriminatory effects.

11. Intellectual Property Rights

11.1 VentureBoard's Intellectual Property

VentureBoard and its licensors own all rights, title, and interest in and to the Platform, including but not limited to: the software, code, architecture, design, user interface, AI Advisor personas and system prompts, branding, trademarks, trade names, logos, documentation, and all related intellectual property (collectively, “VentureBoard IP”). Nothing in these Terms grants you any right, title, or interest in VentureBoard IP except for the limited licence to use the Platform as described herein.

11.2 Your Input

As between you and VentureBoard, you retain all ownership rights in your Input. By submitting Input to the Platform, you grant VentureBoard a limited, non-exclusive, worldwide, royalty-free licence to use, process, transmit, and temporarily store your Input solely for the purpose of providing the Services (including transmitting Input to AI Model Providers for processing). This licence terminates upon deletion of the relevant data or termination of your account, subject to reasonable backup and legal retention periods.

11.3 Output Ownership

Subject to the limitations below and to the extent permitted by applicable law, as between you and VentureBoard, you own the Output generated from your use of the Services. VentureBoard hereby assigns to you all right, title, and interest it may have in Output generated specifically for you. However, you acknowledge that:

• Output is generated by AI models and may not be eligible for copyright protection in all jurisdictions. Copyrightability of AI-generated content is an evolving area of law.
• Identical or substantially similar Output may be generated for other users. Our assignment of rights to you does not extend to Output generated for other users.
• You are solely responsible for determining whether Output infringes on any third-party intellectual property rights before using it commercially.
• VentureBoard makes no representations or warranties regarding the intellectual property status of Output, including whether it is original, non-infringing, or protectable under copyright or other laws.

11.4 No Training on Your Data

VentureBoard does NOT use your Input, Output, or Conversation Data to train, fine-tune, or improve our own AI models or any third-party AI models. Under our Data Processing Agreements with AI Model Providers, your data is also not used by them for general model training. Temporary retention by AI Model Providers (up to 30 days for abuse monitoring and safety purposes) is not considered training.

11.5 Feedback

If you provide VentureBoard with feedback, suggestions, ideas, or recommendations regarding the Platform (“Feedback”), you grant us an irrevocable, perpetual, worldwide, royalty-free, fully sublicensable licence to use, modify, and incorporate such Feedback into the Platform and our business operations without obligation or compensation to you. Feedback does not include your Conversation Data or Business Artifacts.

11.6 DMCA & Copyright Complaints

VentureBoard respects the intellectual property rights of others. If you believe that any content on our Platform infringes your copyright, please submit a notice to inquiries@ventureboard.ai containing the information required under the EU Copyright Directive (2019/790) and/or the U.S. Digital Millennium Copyright Act (DMCA). We will respond to valid notices in accordance with applicable law.

12. User Content & Licence Grants

You are solely responsible for all content you submit to the Platform (“User Content”). You represent and warrant that: (a) you own or have the necessary rights, licences, and permissions to submit your User Content; (b) your User Content does not infringe, misappropriate, or violate any third party's intellectual property, privacy, publicity, or other rights; and (c) your User Content complies with all applicable laws and these Terms.

You grant VentureBoard a non-exclusive, worldwide, royalty-free licence to use, copy, process, and display your User Content solely for the purpose of operating and providing the Services. This licence is limited to what is technically necessary to deliver the Platform's functionality and does not grant VentureBoard any ownership interest in your User Content.

VentureBoard does not monitor or pre-screen User Content, but reserves the right to remove or disable access to any User Content that violates these Terms or applicable law, or that we reasonably determine to be harmful, offensive, or otherwise objectionable.

13. Data Protection & Privacy

VentureBoard processes personal data in accordance with our Privacy Policy (available at ventureboard.ai/privacy), the General Data Protection Regulation (EU) 2016/679 (GDPR), the Bulgarian Personal Data Protection Act (ЗЗЛД), the EU AI Act (Regulation 2024/1689), and all other applicable data protection laws.

Our Privacy Policy is incorporated into these Terms by reference. By agreeing to these Terms, you also acknowledge the data processing practices described in the Privacy Policy.

Where VentureBoard processes personal data on behalf of a business user acting as a data controller, we will enter into a Data Processing Agreement (DPA) as required by GDPR Article 28. Business users may request a DPA by contacting inquiries@ventureboard.ai.

VentureBoard is committed to data protection by design and by default (GDPR Article 25). We implement appropriate technical and organizational measures to protect your personal data, including encryption, access controls, and regular security assessments.

14. Confidentiality

14.1 Confidential Information

“Confidential Information” means any non-public, proprietary, or sensitive business information disclosed by either party to the other in connection with the Platform, including but not limited to: business plans, strategies, financial information, trade secrets, technical data, product roadmaps, customer information, and the terms of any paid Subscription.

14.2 Obligations

Each party agrees to: (a) maintain the confidentiality of the other party's Confidential Information using at least the same degree of care it uses to protect its own confidential information (and in no event less than reasonable care); (b) not disclose Confidential Information to any third party except as necessary to perform its obligations under these Terms or as authorized in writing; and (c) use Confidential Information only for the purposes contemplated by these Terms.

14.3 Exceptions

Confidentiality obligations do not apply to information that: (a) is or becomes publicly available through no breach of these Terms; (b) was already known to the receiving party without restriction before disclosure; (c) is independently developed without use of or reference to Confidential Information; (d) is received from a third party without restriction and without breach of any obligation of confidentiality; or (e) is required to be disclosed by law, regulation, or court order, provided that the disclosing party is given reasonable advance notice (where legally permitted) and cooperation to contest or limit such disclosure.

14.4 AI Processing of Confidential Information

You acknowledge that Confidential Information submitted to AI Advisors will be transmitted to AI Model Providers for processing. While these providers are bound by Data Processing Agreements that prohibit use of your data for model training, VentureBoard cannot guarantee that third-party AI Model Providers will maintain the same standards of confidentiality as VentureBoard. You are solely responsible for determining whether to submit Confidential Information to the Platform.

15. Third-Party Services & AI Model Providers

15.1 AI Model Providers

The Platform integrates with third-party AI Model Providers (currently Anthropic and OpenAI). Your use of the Platform is also subject to the acceptable use policies and terms of these providers, including:

• Anthropic's Acceptable Use Policy (anthropic.com/policies)
• OpenAI's Usage Policies (openai.com/policies)

VentureBoard is not responsible for the policies, practices, availability, or performance of AI Model Providers. We act as a deployer of AI systems under the EU AI Act and maintain appropriate agreements with our providers, but do not control the underlying models.

15.2 Payment Processors

Payment processing is handled by third-party payment providers. Your payment information is transmitted directly to these providers and is governed by their respective terms and privacy policies. VentureBoard does not store full credit card numbers.

15.3 Third-Party Links & Integrations

The Platform may contain links to or integrations with third-party websites, services, or tools. VentureBoard does not endorse, control, or assume responsibility for the content, privacy practices, or terms of any third-party services.

15.4 Sub-Processor List

A current list of our sub-processors is published at ventureboard.ai/subprocessors and updated when changes occur.

16. Availability, Uptime & Modifications

16.1 Availability

VentureBoard will use commercially reasonable efforts to make the Platform available, but does not guarantee uninterrupted, error-free, or continuous access. The Platform may be temporarily unavailable due to scheduled maintenance (for which we will provide reasonable advance notice), unscheduled maintenance for urgent issues, factors outside our reasonable control, or actions by AI Model Providers.

16.2 Service Level

Unless a specific Service Level Agreement (SLA) is included in your Subscription plan, VentureBoard does not guarantee any minimum uptime or response time. Enterprise users may negotiate specific SLAs by contacting inquiries@ventureboard.ai.

16.3 Modifications to Services

VentureBoard reserves the right to modify, update, enhance, or discontinue any aspect of the Platform at any time, including adding or removing features, changing AI Model Providers, updating AI Advisor personas, or modifying the types or number of Business Artifacts available. We will provide at least thirty (30) days' prior notice before making material changes that significantly reduce the core functionality of your paid Subscription. If such changes materially diminish the value of your Subscription, you may cancel and receive a pro-rata refund for the unused portion of your current billing period.

16.4 Rate Limits & Usage Quotas

We may impose rate limits, usage quotas, or temporary access restrictions to manage service capacity, ensure fair access for all users, prevent abuse, or comply with AI Model Provider usage limits. These limits may vary by Subscription plan and may be adjusted at our discretion.

17. Beta Features & Experimental Services

VentureBoard may offer features, functionality, or services designated as “beta,” “preview,” “early access,” or “experimental” (collectively, “Beta Features”). By using Beta Features, you acknowledge and agree that:

• Beta Features are provided “AS IS” and “AS AVAILABLE” without any warranties of any kind
• Beta Features may contain bugs, errors, or defects and may not function as expected
• Beta Features may be modified, suspended, or discontinued at any time without notice
• Beta Features are excluded from any SLA, uptime guarantee, or support obligation
• VentureBoard's total liability for any claims arising from Beta Features is limited to zero (EUR 0) to the maximum extent permitted by applicable law
• Beta Features are excluded from any indemnification obligations VentureBoard may have

Your use of Beta Features is voluntary and at your own risk. We may collect additional usage data and feedback regarding Beta Features to improve the Platform.

18. Warranty Disclaimers

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE PLATFORM AND ALL SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTY OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. VENTUREBOARD, ITS AFFILIATES, LICENSORS, AND AI MODEL PROVIDERS EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO:

• IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SATISFACTORY QUALITY, NON-INFRINGEMENT, AND QUIET ENJOYMENT
• WARRANTIES ARISING FROM ANY COURSE OF DEALING, USAGE OF TRADE, OR COURSE OF PERFORMANCE
• WARRANTIES THAT THE PLATFORM WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE
• WARRANTIES THAT OUTPUT WILL BE ACCURATE, RELIABLE, COMPLETE, CURRENT, OR NON-INFRINGING
• WARRANTIES THAT THE PLATFORM WILL MEET YOUR REQUIREMENTS, EXPECTATIONS, OR ACHIEVE ANY PARTICULAR BUSINESS RESULT
• WARRANTIES REGARDING THE QUALITY, SAFETY, LEGALITY, OR SUITABILITY OF ANY OUTPUT FOR ANY PURPOSE

VentureBoard does not warrant that defects will be corrected, that the Platform will be free of viruses or harmful components, or that any data transmitted via the Platform will be secure or not lost.

EU Consumer Rights Notice: If you are a consumer within the EU/EEA, certain statutory warranties and consumer protection rights may apply and cannot be excluded or limited under applicable law, including guarantees under the Digital Content Directive (EU) 2019/770. Nothing in these Terms excludes or limits your statutory rights as a consumer under mandatory EU consumer protection legislation. To the extent any warranty disclaimer in this Section conflicts with mandatory consumer protection law, the mandatory provisions shall prevail.

19. Limitation of Liability

19.1 Exclusion of Indirect Damages

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER VENTUREBOARD, NOR ITS AFFILIATES, LICENSORS, AI MODEL PROVIDERS, EMPLOYEES, AGENTS, OR DIRECTORS (COLLECTIVELY, THE “VENTUREBOARD PARTIES”) SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR:

• LOSS OF PROFITS, REVENUE, BUSINESS, CONTRACTS, GOODWILL, OR ANTICIPATED SAVINGS
• LOSS OF DATA, OR COST OF DATA RECONSTRUCTION OR RECOVERY
• BUSINESS INTERRUPTION OR LOSS OF BUSINESS OPPORTUNITY
• COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES
• ANY LOSSES OR DAMAGES ARISING FROM OR RELATED TO YOUR RELIANCE ON AI-GENERATED OUTPUT
• ANY LOSSES RESULTING FROM INACCURATE, INCOMPLETE, OR MISLEADING OUTPUT
• ANY LOSSES ARISING FROM DECISIONS MADE BASED ON OUTPUT WITHOUT INDEPENDENT PROFESSIONAL VERIFICATION

THESE EXCLUSIONS APPLY REGARDLESS OF THE THEORY OF LIABILITY (CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE, OR OTHERWISE), EVEN IF THE VENTUREBOARD PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND EVEN IF ANY LIMITED REMEDY FAILS OF ITS ESSENTIAL PURPOSE.

19.2 Liability Cap

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE TOTAL AGGREGATE LIABILITY OF THE VENTUREBOARD PARTIES FOR ALL CLAIMS ARISING OUT OF OR RELATED TO THESE TERMS OR YOUR USE OF THE PLATFORM SHALL NOT EXCEED THE GREATER OF: (A) THE TOTAL AMOUNT OF FEES ACTUALLY PAID BY YOU TO VENTUREBOARD DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM; OR (B) ONE HUNDRED EUROS (EUR 100).

19.3 Exceptions to Limitations

The limitations of liability in this Section 19 do not apply to: (a) either party's breach of confidentiality obligations; (b) your indemnification obligations under Section 20; (c) your breach of Section 8 (Prohibited Uses); (d) liability arising from fraud, wilful misconduct, or gross negligence; or (e) any liability that cannot be excluded or limited under mandatory applicable law, including mandatory EU consumer protection law.

19.4 Basis of the Bargain

The parties acknowledge that VentureBoard has set its prices and entered into these Terms in reliance upon the disclaimers and limitations of liability in Sections 18 and 19, and that these provisions form an essential basis of the bargain between the parties. These provisions shall apply regardless of whether VentureBoard has been advised of the possibility of such damages and notwithstanding the failure of any agreed or other remedy of its essential purpose.

19.5 Jurisdictional Variations

Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages or certain warranty disclaimers. If you reside in such a jurisdiction, some or all of the above exclusions and limitations may not apply to you, and you may have additional rights. In that case, the liability of the VentureBoard Parties shall be limited to the fullest extent permitted by the laws of your jurisdiction.

20. Indemnification

20.1 Your Indemnification Obligations

To the maximum extent permitted by applicable law, you agree to indemnify, defend, and hold harmless the VentureBoard Parties from and against any and all claims, demands, actions, losses, damages, liabilities, costs, and expenses (including reasonable attorneys' fees and legal costs) arising from or relating to:

• Your use of the Platform or Output, including any use of Output in violation of Sections 9 and 10
• Your Input or User Content, including any claim that your Input infringes, misappropriates, or violates any third-party intellectual property, privacy, or other rights
• Your violation of these Terms, including the Acceptable Use Policy and Prohibited Uses
• Your violation of applicable law or regulation
• Any product, service, application, or business built using or incorporating Output from the Platform
• Any claim by a third party arising from your reliance on Output without independent professional verification
• Disputes between you and any third party arising from your use of the Platform

20.2 Indemnification Procedure

The indemnified party shall: (a) provide prompt written notice of the claim to the indemnifying party; (b) provide reasonable cooperation in the investigation and defence of the claim; and (c) grant the indemnifying party sole control of the defence and settlement, provided that the indemnifying party may not settle any claim in a manner that imposes obligations on, requires admissions by, or otherwise adversely affects the indemnified party without prior written consent. The indemnified party may participate in its own defence at its own expense.

20.3 EU Consumer Notice

If you are a consumer in the EU/EEA, this indemnification obligation applies only to the extent that the claim arises from your fault, breach, or unlawful conduct, and only to the extent permitted by mandatory consumer protection law in your jurisdiction.

21. Termination

21.1 Termination by You

You may terminate your account at any time by: (a) using the account cancellation feature in your account settings; or (b) contacting us at inquiries@ventureboard.ai. If you terminate a paid Subscription before the end of the billing period, you will retain access to paid features until the end of the current billing period, unless otherwise required by applicable law (see Section 5.4 regarding EU consumer withdrawal rights).

21.2 Termination by VentureBoard

VentureBoard may terminate or suspend your account and access to the Platform:

• For Cause (Immediate): If you materially breach these Terms (including the Prohibited Uses in Section 8), if we reasonably believe your account has been compromised, if required by law or government order, if your use poses a security risk to the Platform or other users, or if your use may expose VentureBoard to legal liability.
• For Convenience (With Notice): VentureBoard may terminate your account for any reason upon thirty (30) days' written notice. If we terminate for convenience, you will receive a pro-rata refund for the unused portion of your current billing period.
• For Non-Payment: VentureBoard may suspend your account if payment is overdue by more than fifteen (15) days and terminate if payment remains outstanding for more than thirty (30) days.

21.3 Suspension

VentureBoard may suspend your access to the Platform (in whole or in part) at any time if we reasonably believe a suspension is necessary to prevent harm, investigate suspected violations, comply with law, or address urgent security or safety concerns. We will endeavour to provide notice before or promptly after suspension and will restore access once the underlying issue is resolved, where appropriate.

22. Effects of Termination

Upon termination of your account for any reason:

• Your right to access and use the Platform immediately ceases (or at the end of the current billing period, if applicable)
• You may continue to use Output and Business Artifacts generated prior to termination, subject to the ongoing obligations in Sections 9, 10, and 11
• VentureBoard will delete your User Data, Conversation Data, and Business Artifacts within ninety (90) days of account termination, unless: (a) we are required by law to retain certain data (e.g., financial records for 7 years under Bulgarian Accountancy Act); or (b) we need to retain data to resolve pending disputes or enforce these Terms
• You may request an export of your data before termination by contacting inquiries@ventureboard.ai. We will provide your data in a structured, commonly used, machine-readable format (JSON or CSV) in accordance with your data portability rights under GDPR Article 20
• All outstanding fees become immediately due and payable

The following Sections shall survive termination or expiration of these Terms: 2 (Definitions), 8 (Prohibited Uses), 9 (AI-Specific Terms), 10 (AI Output Accuracy), 11 (Intellectual Property), 14 (Confidentiality), 18 (Warranty Disclaimers), 19 (Limitation of Liability), 20 (Indemnification), 22 (Effects of Termination), 23 (Dispute Resolution), 24 (Governing Law), and 27 (General Provisions) — and any other provision that by its nature should survive termination.

23. Dispute Resolution

23.1 Informal Resolution

Before initiating any formal proceedings, the parties agree to attempt to resolve any dispute, claim, or controversy arising out of or relating to these Terms (“Dispute”) through good-faith informal negotiation. The aggrieved party shall send a written notice describing the Dispute and proposed resolution to the other party. The parties shall negotiate in good faith for a period of at least sixty (60) days from receipt of such notice before initiating formal proceedings.

23.2 Mediation

If the Dispute is not resolved through informal negotiation, either party may refer the Dispute to mediation administered by the Bulgarian Chamber of Commerce and Industry (BCCI) or another mutually agreed mediation provider. Mediation costs shall be shared equally unless the mediator determines otherwise.

23.3 Arbitration (Business Users)

For business users, if mediation does not resolve the Dispute within thirty (30) days of referral, either party may submit the Dispute to binding arbitration administered by the International Court of Arbitration at the BCCI under its applicable rules. The arbitration shall be conducted by a single arbitrator, in English, with the seat of arbitration in Sofia, Bulgaria. The arbitrator's decision shall be final and binding and may be enforced in any court of competent jurisdiction.

23.4 Court Proceedings (Consumers)

If you are a consumer in the EU/EEA, you are entitled to bring proceedings in the courts of your habitual residence in accordance with Regulation (EU) No 1215/2012 (Brussels I Recast), and nothing in these Terms restricts your right to do so. EU consumers may also use the European Commission's Online Dispute Resolution (ODR) platform at ec.europa.eu/odr. For consumers in other jurisdictions, mandatory consumer protection laws may provide you with additional forum rights that cannot be waived.

23.5 Equitable Relief

Nothing in this Section prevents either party from seeking injunctive or other equitable relief from any court of competent jurisdiction to prevent irreparable harm pending resolution of a Dispute.

23.6 Class Action Waiver (Where Permitted)

To the extent permitted by applicable law, you agree that any Dispute will be resolved on an individual basis and not as part of any class, collective, consolidated, or representative action or proceeding. If this class action waiver is found to be unenforceable in your jurisdiction, this provision shall be severed and the remaining Dispute resolution provisions shall remain in full effect.

24. Governing Law & Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of the Republic of Bulgaria, without regard to its conflict of law provisions, and the directly applicable regulations of the European Union (including the GDPR and the EU AI Act).

For business users, the courts of Sofia, Bulgaria shall have exclusive jurisdiction over any Disputes not resolved through arbitration.

For EU/EEA consumers, in accordance with Regulation (EU) No 1215/2012, you may bring proceedings in the courts of your habitual residence. Nothing in these Terms deprives you of the protection afforded by mandatory provisions of the law of the country in which you are habitually resident, as provided by Article 6(2) of Regulation (EC) No 593/2008 (Rome I).

For users in other jurisdictions, these Terms shall be governed by Bulgarian law to the extent permitted by applicable mandatory local law. Where mandatory local law applies, it shall prevail to the extent of any conflict with these Terms.

25. Force Majeure

Neither party shall be liable for any failure or delay in performance of its obligations under these Terms (other than payment obligations) to the extent such failure or delay is caused by circumstances beyond its reasonable control, including but not limited to: acts of God, natural disasters, pandemics, epidemics, war, terrorism, civil unrest, government actions or orders, sanctions, embargoes, strikes, labour disputes, power failures, internet or telecommunications failures, cyberattacks, actions or omissions of AI Model Providers, changes in applicable law or regulation, or any other event beyond the reasonable control of the affected party (“Force Majeure Event”).

The affected party shall: (a) provide prompt notice to the other party of the Force Majeure Event; (b) use commercially reasonable efforts to mitigate the impact; and (c) resume performance promptly once the Force Majeure Event ceases. If a Force Majeure Event continues for more than ninety (90) consecutive days, either party may terminate these Terms upon thirty (30) days' written notice.

26. Changes to Terms

VentureBoard reserves the right to modify these Terms at any time. When we make changes:

• We will update the “Last Updated” date at the top of these Terms
• We will notify you of material changes by email and/or prominent notice on the Platform at least thirty (30) days before the changes take effect
• For material changes that adversely affect your rights, we will provide the option to review and accept the updated Terms before they become binding
• If you do not agree to the updated Terms, you may terminate your account before the changes take effect and receive a pro-rata refund for any unused portion of your paid Subscription

Your continued use of the Platform after the effective date of updated Terms constitutes your acceptance. Previous versions of these Terms will be archived and available upon request.

Non-material changes (such as typographical corrections, clarifications that do not alter your rights, or updates to contact information) may take effect immediately upon posting.

27. General Provisions

27.1 Entire Agreement

These Terms, together with the Privacy Policy, Acceptable Use Policy, and any applicable Subscription terms, DPAs, or SLAs, constitute the entire agreement between you and VentureBoard with respect to the subject matter hereof and supersede all prior or contemporaneous communications, proposals, agreements, and understandings, whether oral or written.

27.2 Severability

If any provision of these Terms is held to be invalid, illegal, or unenforceable by a court or tribunal of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it valid and enforceable, or if modification is not possible, shall be severed, and the remaining provisions shall continue in full force and effect.

27.3 Waiver

No failure or delay by VentureBoard in exercising any right, power, or remedy under these Terms shall operate as a waiver thereof. No single or partial exercise of any right, power, or remedy shall preclude any further exercise thereof or the exercise of any other right, power, or remedy.

27.4 Assignment

You may not assign, transfer, or delegate your rights or obligations under these Terms without VentureBoard's prior written consent. VentureBoard may freely assign, transfer, or delegate these Terms or any rights or obligations hereunder to any affiliate or in connection with a merger, acquisition, reorganization, or sale of all or substantially all of its assets, upon notice to you.

27.5 No Third-Party Beneficiaries

These Terms are for the benefit of VentureBoard and you only. Except for the VentureBoard Parties (who are intended third-party beneficiaries of the warranty disclaimers and limitations of liability), no third party shall have any rights or benefits under these Terms.

27.6 Relationship of the Parties

Nothing in these Terms creates a partnership, joint venture, agency, franchise, employment, or fiduciary relationship between you and VentureBoard. Neither party has authority to bind or obligate the other.

27.7 Notices

All notices under these Terms must be in writing. Notices to VentureBoard shall be sent to inquiries@ventureboard.ai. Notices to you shall be sent to the email address associated with your account. Notices are deemed received when delivered electronically (upon confirmed delivery) or, if sent by post, three (3) business days after mailing to the last known address.

27.8 Language

These Terms are drafted in English. A Bulgarian-language version may be made available for convenience. In the event of any conflict or inconsistency between the English version and any translation, the English version shall prevail, except where local law requires the local-language version to take precedence.

27.9 Headings

Section headings are for convenience only and shall not affect the interpretation of these Terms.

27.10 Export Compliance

You agree to comply with all applicable export control laws and sanctions, including EU Regulation (EC) No 428/2009 (Dual-Use Regulation), U.S. Export Administration Regulations (EAR), and any applicable sanctions programs administered by the EU, OFAC, or UN Security Council. You shall not use the Platform in any country or territory subject to comprehensive sanctions or for any prohibited end-use.

27.11 Accessibility

VentureBoard is committed to making the Platform accessible to users with disabilities. We strive to comply with WCAG 2.1 Level AA guidelines and applicable accessibility laws, including the European Accessibility Act (Directive (EU) 2019/882).

27.12 Electronic Communications

By using the Platform, you consent to receiving electronic communications from VentureBoard. You agree that all agreements, notices, disclosures, and other communications provided electronically satisfy any legal requirement that such communications be in writing.

28. Contact Information

For questions, concerns, or notices relating to these Terms: