Thanks for being concerned enough (or curious!) to read about our commitment to privacy. Most people don’t bother to read the fine print and end up missing out on all it reveals. Most companies use language that is consumer-unfriendly to obfuscate policies like this
Upstock is a new kind of stock option system. Our mission is to provide simple, fair, and transparent equity.
Your trust is essential to our existence. We will guard that trust.
Here is what that means.
Personally identifiable information
Upstock facilitates equity management between the company and the team member. To enable us to manage legal agreements, we need your personal information and signature to form legally binding documents and agreements.
By agreeing to use Upstock, we will record your legal name, address, and signature. We will never use that information to sell, share an insight or other action with them. We will never use that information inappropriately such as selling or sharing an insight.
If you are outside the United States, you should know that any personally identifiable information you enter into the Services will be transferred out of your country and into the United States, and possibly to other countries. By using the Services, you consent to such transfer and are representing that you have the right to transfer such information outside of your country.
Here are some of the ways we may use personal information you provide us:
- To allow you to register for our Services and to administer and process the registration
- To communicate with you about our products, services, and related issues
- To evaluate the quality of our products and services and to enhance your experience on our websites
- To maintain and administer our websites and comply with our legal or internal obligations and policies
- To charge you any fees and provide you with a receipt or resolve billing issues associated with your account
Hours, Rates & Equity
Upstock allows team members to record the hours they have worked in our online dashboard. Upstock also allows you to see other team member’s contributions with regards to their cash rate and equity rate. The different rates are set by the founder after negotiations that are close to market standards with that team member. If someone’s rate is higher than your rate it will most likely be because they have a more complex role or are bringing a higher level of value to the company.
Upstock makes sure that the information in the company dashboard is safe by maintaining the confidentiality of the rates to the general public. This is critical to understand, so we’ll explain in more detail.
First, by “cash rate” we mean the amount of cash the team member is receiving for every hour they work or task that is done. Second, by “equity rate” we mean the amount of equity (in dollars) the team member is investing back into the company (through the value of their time) in exchange for performance equity. It must be noted that the company can put a cap on the cash rate per monthly cycle. This means that if the team member works additional hours, his/her cash rate will be added onto their equity rate for these hours.
Third, by ‘equity’ we mean ‘performance equity’ which is the promise of equity in the future that the company owes a team member. Team members equity is visible to all other team members and stakeholders (advisors, accountants, etc). Upstock’s system is based on a future landmark event when the performance equity will be distributed, as promised.
Most importantly, none of your information will be shared with any third party or the general public. Only those team members in the equity performance pool and your company will see your rates, hours and equity. Your information will be kept between you and the company. Also, we don’t create a public profile for you or allow search engines like Google to index any content about you.
How we protect your information
We implement a variety of security measures to maintain the safety of your information.
All our servers use secure connections. All supplied sensitive information is transmitted via industry-standard SSL encryption technology. We have physical, electronic, and procedural safeguards to protect the personal information we store. Our servers are physically safe and housed in secure data centers with no public access. We have additional layers of private cloud security with restricted access to our network. These layers make even incredibly sophisticated hacking difficult. Only certain authorized persons on a need to know basis and who are bound by strong confidentiality agreements have any access to our data. Only when absolutely necessary, third-party contractors may have access to our databases. These contractors are vetted, reference-checked, and required to sign a comprehensive confidentiality agreement for your protection.
Upstock servers that are used to store your personal information are owned and hosted by Amazon Web Services, LLC, an Amazon.com company. You can read more about measures that have been taken by Amazon to protect the security of their servers and your Personal Information here.
We rely on the security inherent in your computer/mobile phone. Someone who could guess your log-in information or otherwise access Upstock on your computer/smartphone could potentially pretend to be you and access your information in our system. Accordingly, it is your responsibility to take appropriate precautions to maintain and preserve the security of your phone/computer. Your data cannot be accessed without your email address and ability to receive a verification email message at that email address (Can have an extra layer of security with phone number too). We use data encryption technology to help protect against loss, misuse or alteration of your sensitive information.
Our employees take your privacy as seriously as we do, and we will take all reasonable measures against any employee found to be in violation of this policy.
Company: If your phone/computer is lost or stolen, please contact us at firstname.lastname@example.org and request that we block access to your account until your situation is resolved.
Team members: If your phone/computer is lost or stolen, please contact your admin and request to have your password reset. You’ll then receive an email with a link to reset your password.
Non-personally identifiable information
We may aggregate and/or anonymize information collected through Upstock so that the information does not identify you. We may use this aggregated, anonymized, and other non-personally identifiable information for improving the Upstock experience and to generate insights or other research.
Information automatically collected by our system
We receive and store certain types of information whenever you interact with us through our website or any of our Services. We store a very small amount of information on your device to secure your login and session information and allow you to proceed where you left off in using the website. We use industry-standard analytics tools, including Heap Analytics and MixPanel, to monitor the use of the service in order to investigate and squash bugs and to improve the experience of using Upstock for all.
Companies and team members who engage in financial transactions to purchase paid services are handed off to PayPal to complete the transaction. In each case, we only collect as much information as is necessary or appropriate given the type of interaction.
You are not our product
Our foundational operating documents express a critical guiding principle: our customers are not, and will never be, our product. That means we won’t sell your personal data to advertisers or data miners.
We don’t do research on you for targeted ads. We don’t care what products you buy.
That’s because your trust and authenticity are essential to our purpose and we believe that trust is a key component in all business relationships
We comply with the requirements of COPPA (Children’s Online Privacy Protection Act). We do not collect any information from anyone under 13 years of age.
Updates or changes
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We strive to be worthy of your trust, so we will be as transparent and honorable as possible. That’s what we want to remember when we are sitting in our rocking chairs and thinking back on how we’ve conducted our business.
We hope it won’t ever come to this, but if you’ve already contacted us and feel that your complaint cannot be resolved, we have agreed to participate in the dispute resolution procedures established in JAMS alternative dispute resolution. For such disputes, you can contact email us at email@example.com or send us mail to 427 N Tatnall St #88152, Wilmington, DE 19801-2230
Thanks for reading!
Last revised: September 14th, 2016