Legal

Terms of Service

In force from August 11, 2026. Version 2026-08-11, the same version string recorded against your account when you accepted it.

This is the contract for a research tool. It is written to be read: short paragraphs, numbered clauses, and no clause describing something the product does not do.

The two clauses most people should read before registering are clause 2, which explains that this is research and not advice, and clause 20, which covers arbitration and your 30-day right to reject it.

1The agreement, and who you are contracting with

These Terms of Service (the "Terms") form a binding contract between you and Attitude Ventures LLC, a limited liability company formed in Delaware, United States, which operates this service under the trading name ValueMarkers ("we", "us", "our"). Our registered agent for service of process is A Registered Agent, Inc., 8 The Green, Ste A, Dover, DE 19901, United States.

You accept these Terms by creating an account. The registration form states, immediately above the button you press, that creating an account accepts these Terms and the privacy policy. Pressing it is the act of acceptance, and we record three things about it: the moment, the version you accepted, and the IP address it came from. You can read that record on your own settings page at any time.

Clause 20 requires most disputes to be resolved by individual arbitration and waives class actions and jury trials. You may reject it within 30 days of registering. Consumers in the European Union, the European Economic Area and the United Kingdom keep their statutory rights regardless.

Three documents govern your use of the service: these Terms, the privacy policy, and the risk disclaimer. Read all three.

2What the service is, and what it is not

ValueMarkers is a research tool covering companies listed in the United States. It presents financial data drawn from company filings and market sources, computes indicators and rankings from that data, lets you record your own investment reasoning as written notes plus numeric conditions you choose (we call them guardrails), and re-tests those conditions against the newest data we hold so that you are told when one of them stops being true.

The service is provided for research and educational purposes only. It is not investment advice. Nothing in it is a recommendation, an offer, or a solicitation to buy, sell or hold any security or other financial instrument.

2.1What we are not

We are not a registered investment adviser, broker-dealer, bank, or accounting or tax firm, in the United States or anywhere else.
We do not manage money, hold client assets, execute or route orders, or exercise discretion over any account.
We do not know your objectives, your circumstances, your tax position or your risk tolerance, and nothing the service produces is tailored to them. No output is a personal recommendation.
No relationship created by these Terms is fiduciary, advisory or one of trust and confidence.
We make no claim, promise or projection about the returns you or anyone else might earn. Any past figure shown in the product is history, not a forecast.

2.2Scores, valuations and rankings

A score is a percentile rank against the companies we cover, computed by a published formula from the data we hold. A fair value produced by the valuation workbench is the arithmetic consequence of assumptions that you enter. Both are tools for thinking. They are not statements that a security is cheap, sound or worth buying, and they are only as good as their inputs, which is why the product shows you those inputs. See Clause 14 for the limits of the data and the methodology page for the formulas.

2.3Alerts

Guardrail checks run on a schedule, once a night. When a guardrail you set fails, we write an item to your in-app inbox and send one email; we do not send it again while the same guardrail stays broken. If the value needed for a check is missing that night, nothing fires, because a gap in the data is a fact about the pipeline and not evidence about your reasoning. An alert reports a condition you defined. It is not a signal, a rating change or an instruction to trade.

3Eligibility

You must be at least 18 years old and legally able to enter into a contract. If you register on behalf of a company, you confirm you are authorised to bind it, and "you" then means that company.

You are responsible for whether using a research tool of this kind is lawful where you live and where you invest. You may not use the service if you are subject to sanctions administered by the United States, the European Union or the United Kingdom, or if you are resident in a territory subject to comprehensive sanctions by any of them. We may refuse or close an account on that basis.

4Your account

You agree to:

give a real email address you control, and a real name, and keep them current;
keep your password confidential, and not share, sell or lend your account;
accept responsibility for everything done through your account;
tell us at hello@valuemarkers.com as soon as you suspect anyone else has used it.

One account per person. Accounts are personal and not transferable. We send a verification link to your address when you register and we may limit an unverified account. We are not liable for loss that follows from your failure to keep your own credentials secure.

5Trial and promotional access

5.1The trial, and that it converts

A subscription starts with a 14-day trial of the full product. To begin it you enter a payment method with our payment processor. Nothing is charged during the trial.

The trial converts by itself. At the end of the 14 days, unless you have cancelled, the plan you selected begins and the payment method you provided is charged the price shown at the time you selected it. You are told that price, and the date of the first charge, before you enter the payment method and again on the confirmation screen afterwards.

Cancelling during the 14 days costs you nothing, and access continues to the end of the trial period. Cancellation is one click inside the product, on the billing section of Settings.

5.2When it ends

If the trial converts, the subscription runs and renews as described in the plan and billing clauses. If you cancelled, or if the payment method is declined and our payment processor ends the subscription, your work stays and your access to it is locked. Theses, guardrails, saved valuations and watchlists remain exactly as you left them and become available again if you subscribe later. Nothing is deleted because a trial expired.

5.3One per person, and complimentary access

One trial per person. We may refuse a second trial to the same person or household, and we may refuse a trial to an account created to obtain one. Where we grant complimentary or discounted access outside the published plan, it is a favour and not a purchase: it carries no minimum term, we may end it on notice, and clause 9 does not apply to it.

6The plan, the price and taxes

There is one paid plan, and it has no feature gates: everything the product does is included. It costs US $29 a month, or US $228 a year if you pay annually. The current price is always the one shown on the pricing page.

Prices are stated in United States dollars and exclude tax. Sales tax, VAT or an equivalent is calculated at checkout where the law requires it, on the basis of the billing address you give our payment processor, and is added to the amount charged. You are responsible for any other tax that applies to you.

7Billing and renewal

Subscriptions are paid in advance for the period you choose, monthly or annual.
Payment is processed by Stripe, Inc. You enter your card details on Stripe, not with us, and we never see or store a card number. By subscribing you authorise Stripe to charge the payment method you gave it.
Your subscription renews automatically at the end of each period, at the price then in force, until you cancel.
If a payment fails we email you. Stripe may retry. Access may be suspended until a payment succeeds, and a subscription that stays unpaid may be closed.
Invoices and payment history are available inside the product and in the billing portal.

8Cancellation

You cancel yourself, inside the product, on the billing page. There is no email to write and no retention call.
Cancellation stops the next renewal. It does not cut access short: you keep the full product until the end of the period you have already paid for, and the downgrade happens on that date.
We do not refund the unused part of a period that has already started, except under the clause below and except where consumer law gives you a stronger right.
Your research is not deleted when you cancel. Theses, guardrails, notes, saved valuations and watchlists are kept, and resubscribing restores access to them. To have the account and its contents deleted, ask us; the privacy policy sets out how and how quickly.

We ask one question when you cancel, and a written comment is optional. We read both, and we use them to decide what to fix. Giving a reason is never a condition of cancelling.

In the rare case where we cannot reach the payment processor at the moment you cancel, the product tells you so plainly and a person stops the renewal by hand. Your cancellation is effective from the moment you made it, whatever the processor did.

9Refunds and the commitments we make

9.1Thirty-day refund on a first payment

If the product is not for you, write to hello@valuemarkers.com within 30 days of your first subscription payment and we refund that payment in full. No form and no questions. It applies once per account, to a first payment, not to renewals. Refunds are issued to the original payment method, by hand, normally within five business days.

9.2The alerting commitment

The point of the product is that you are told when a reason you wrote down stops holding. If a guardrail on one of your theses breaks, the data we hold reflects the break, and we fail to alert you within one day of that data being in place, tell us and we refund your last two months. This commitment runs for the first 60 days of a paid subscription. It is honoured by a person who reads your claim, checks the record of what we computed and what we sent, and pays if we were at fault.

Two honest limits. First, the commitment is about our alerting, not about the world: it does not apply where the underlying data never arrived, arrived later than the event, or was restated afterwards, and it does not apply where the guardrail could not be evaluated because a figure was missing. Second, it is not compensation for an investment outcome. It is a refund of what you paid us, and it is the whole of what we owe you if we miss an alert.

9.3Consumers in the EU, the EEA and the UK

You have a statutory right to withdraw from a distance contract within 14 days of entering into it. Because the service is supplied digitally and immediately, you accept that supply begins at once and you acknowledge that your right of withdrawal may be lost once the service has been fully performed. The 30-day refund in 9.1 is more generous than the statutory minimum and is offered in addition to it, not instead of it. Nothing in this clause limits a mandatory consumer right you have where you live.

10Price changes

We may change the price. We will email you at least 30 days before a change affects you, and it takes effect at your next renewal after that notice. If you do not want the new price, cancel before the renewal and you will not be charged it. Continuing after the change takes effect is acceptance of it. A change never applies to a period you have already paid for.

11Acceptable use

You agree not to:

share credentials or let anyone else use your account, or use one account for several people;
scrape, crawl, spider or otherwise extract data or content by automated means, or use the interface as an undocumented data feed;
resell, republish, redistribute, sublicense or make available to anyone else the data, figures, scores, rankings or analysis the service produces, whether or not for money;
reverse engineer, decompile or attempt to reconstruct our formulas, weightings, thresholds or source code, or use outputs to train or fit a model that reproduces them;
circumvent rate limits, usage limits, authentication or any other technical control, or probe or scan the service for weaknesses without our written permission;
use the service unlawfully, or to further market abuse, insider dealing or manipulation, or to publish investment recommendations without complying with the rules that apply to you when you do;
upload malicious code, overload the service, or interfere with its operation or with anyone else’s use of it;
impersonate anyone, or misrepresent your identity or affiliation.

What you may do: use the product for your own investment research, form your own view, and act on it. You may show a colleague a figure or export your own data for your own records. The line we draw is systematic extraction and redistribution, because the licences we hold for the underlying data require us to draw it.

We may suspend or close an account that breaks this clause, with or without notice depending on the seriousness, and without refund. We may report conduct we believe to be criminal.

12Our intellectual property

The software, the interface, the wording, the indicator definitions, the scoring methodology and its weights and thresholds, the screens and their construction, and every compilation and arrangement of data in the service belong to us or to our licensors, and are protected by copyright, database, trade secret and other rights. The trading name and logo are ours. All rights not expressly granted here are reserved.

While you comply with these Terms you have a limited, personal, non-exclusive, non-transferable, revocable licence to use the service for your own investment research. That licence carries no right to copy, adapt or distribute any part of the service beyond what these Terms allow.

Publishing our formulas and thresholds on the methodology page is a deliberate act of transparency so you can judge our work. It is not a licence to copy them.

If you send us an idea, a bug report or a suggestion, we may use it without payment, confidentiality or attribution. You keep whatever rights you had in it.

13Your content, and the licence we need

Your content is what you write and set: your theses, your bull and bear cases, your notes on a company’s moat, the guardrails and thresholds you choose, your conviction and status markings, your valuation assumptions and saved versions, your watchlists, and any positions and cost bases you choose to record. It is yours. Recording it here does not transfer any right in it to us.

13.1The licence

To run the service for you, you grant us a worldwide, non-exclusive, royalty-free licence to host, store, copy, transmit and process your content, and to compute with it, for these purposes and no others: showing it back to you; re-testing your guardrails against new data on a schedule; generating and delivering the resulting alerts, inbox items and summaries to you; and making backups. The licence lasts as long as we hold the content and ends when you delete it, subject only to the backup window in the privacy policy.

13.2What we will not do with it

We will not publish your content, show it to other users, sell it, or use it to build a product for anyone else. We will not use your writing to train machine learning models. Aggregate operational counts, such as how many theses exist in total, contain nothing about you and are not covered by this promise.

13.3Your responsibility for it

You confirm you have the right to record what you record, and that it is not unlawful, infringing or confidential to someone else. Do not put material non-public information into the product. Keep your own copy of anything you would be sorry to lose: the product exports screener results and holdings as CSV, and we will assemble a full copy of your account if you ask, but clause 17 limits what we owe you if data is lost.

14Third-party data, and the limits of it

Company financials come from the accounts each company files, standardised into comparable statements. Prices and market figures come from market data sources. Macroeconomic series come from public statistical agencies. We do not audit any of it, and no supplier of it is a party to these Terms.

14.1What we do about it

Every figure in the product can be opened to show its formula, its inputs, the statement it came from, the fiscal period and the filing date. Where a value is missing we render it as unavailable rather than as zero or a guess. Where a ratio is not meaningful we say so instead of printing a number. We report the age of the market data and the time of the last computation as two separate facts, because recomputing an indicator does not make a quote fresh. There is a link on every research surface for telling us a figure looks wrong, and we read those.

14.2What you must assume anyway

Data may be stale. The product shows you as-of dates precisely because they are sometimes older than you would like, and a period of frozen or delayed data is possible.
Coverage varies by company, and it varies a lot. The service covers companies listed in the United States only. Being listed in the product is not a promise that we hold financial statements for it, still less ten years of them. The product states what it holds for each company; do not infer depth from the size of the universe.
Data may be incomplete, misclassified, presented in an unexpected currency, or restated later by the company. A restatement can change a score or break a guardrail after the fact.
Figures, scores, valuations, rankings and screens may contain errors, including errors of ours.

We give no warranty that any figure, score, valuation, ranking or analysis is accurate, complete, current or fit for any purpose. Before you rely on a number for a decision, verify it against the company’s own filing.

15Availability and changes to the service

We aim to keep the service up and the nightly checks running, and we watch both. We do not promise a level of uptime, and we may take the service down for maintenance. Scheduled jobs can fail, and an upstream outage can delay the data those jobs depend on.

We improve the product continuously, and that means changing it. We may add, alter or remove features, adjust a formula where we find it wrong or can make it better, and change which data we hold. Where a change materially reduces what the plan does, we will tell you by email, and you may cancel and ask for a pro rata refund of the unused part of the period you paid for.

16Disclaimer of warranties

The service, including all data, indicators, scores, valuations, screens and alerts, is provided "as is" and "as available", without warranty of any kind, whether express, implied or statutory. To the fullest extent the law allows, we disclaim the implied warranties of merchantability, fitness for a particular purpose, title, accuracy and non-infringement.

We do not warrant that the service will be uninterrupted, timely, secure or error-free; that any figure, score, valuation, ranking or alert is accurate, complete or current; that an alert will reach you, or reach you in time; that defects will be corrected; or that the service or any communication from it is free of harmful components.

Some jurisdictions do not allow the exclusion of certain warranties, and consumers often have rights that cannot be excluded. Nothing here excludes or limits a right you have that cannot lawfully be excluded or limited.

17Limitation of liability

To the maximum extent permitted by law, we are not liable for any indirect, incidental, special, consequential, exemplary or punitive damages, or for lost profits, lost revenue, lost opportunity, lost or corrupted data, trading or investment losses, or any decline in the value of any security or portfolio, however caused and on any theory of liability, even if we were told such loss was possible.

Our total aggregate liability for all claims arising out of or relating to these Terms or the service is limited to the greater of the amount you paid us in the twelve months before the event giving rise to the claim, or one hundred United States dollars.

This limit reflects a deliberate allocation of risk. We sell a research tool for a modest subscription and we cannot price it as insurance against investment outcomes, which is why clause 2 is written as plainly as it is. The exclusions and the cap apply even if a limited remedy is found to have failed of its essential purpose.

Nothing in these Terms excludes or limits liability for fraud or fraudulent misrepresentation, for death or personal injury caused by negligence, or for anything else that cannot lawfully be excluded or limited. Where a jurisdiction does not allow some part of this clause, that part applies to the greatest extent it lawfully can and the rest stands.

18Indemnity

You will indemnify and hold harmless us and our members, managers, officers, employees, contractors and agents from and against any claim, liability, loss, damage and reasonable legal cost arising out of your use of the service, your breach of these Terms or of any law, the content you submit, your redistribution of anything the service produced, or any investment decision you or someone relying on you made.

We will tell you promptly about any such claim, and you may not settle it in a way that imposes an obligation on us without our written consent. Where you are a consumer, this clause applies only to the extent the law permits.

19Term and termination

These Terms apply from the moment you register until the account is closed. You may cancel your subscription at any time under clause 8, and you may ask us to delete the account itself.

We may suspend or close your account if you breach these Terms, if we reasonably suspect fraud or unlawful use, if payment stays unresolved, or if we discontinue the service. Where the circumstances allow it, we give notice first. If we close a paid account for a reason that is not your fault, including because we shut the service down, we refund the unused part of the period you paid for.

On closure your licence to use the service ends immediately. Deletion of what we hold follows the retention schedule in the privacy policy. Clauses 2, 12, 13, 14, and 16 to 21 survive termination.

20Dispute resolution, arbitration and class action waiver

This clause affects your legal rights. It requires most disputes to be arbitrated individually, and it waives your right to a jury trial and to take part in a class action. Read it before you register.

20.1Talk to us first

Before starting arbitration or a lawsuit, send a written notice of dispute to legal@valuemarkers.com describing the problem and what you want. We will do the same for a dispute we have with you. Both sides agree to try in good faith to resolve it within 60 days of that notice. This step costs nothing and settles most things.

20.2Agreement to arbitrate

If it is not resolved, you and we agree that any dispute arising out of or relating to these Terms or the service will be settled by final and binding arbitration administered by the American Arbitration Association under its Consumer Arbitration Rules, and not in court. This includes disputes about whether this arbitration agreement is valid or enforceable, except as clause 20.4 provides.

20.3How the arbitration runs

One arbitrator, proceedings in English, under the AAA Consumer Arbitration Rules then in force.
The seat is Wilmington, Delaware. If you are a consumer, you may instead elect a hearing where you live, or a hearing by video.
For a claim of US $25,000 or less, the arbitration is decided on documents alone unless a party asks for a hearing.
We pay the AAA filing and administration fees to the extent they exceed what filing the same claim in court would have cost you. Each side otherwise bears its own costs, unless the arbitrator decides otherwise under the rules or applicable law.
The arbitrator may award any relief a court could award to you individually. The award is final and binding and may be entered as a judgment.

20.4Class action and jury trial waiver

Claims may be brought only in an individual capacity, and not as a plaintiff or class member in any purported class, collective, consolidated or representative proceeding. The arbitrator may not consolidate the claims of more than one person. If this waiver is held unenforceable as to a particular claim, that claim, and only that claim, is severed from the arbitration and proceeds in the courts identified in clause 21. If a dispute proceeds in court, you and we each waive any right to a trial by jury.

20.5Exceptions

Either of us may bring an individual claim in small claims court if it qualifies, and either of us may ask a court for interim or injunctive relief to protect intellectual property or to stop unauthorised access to the service.

20.6Your right to reject this clause

You may reject arbitration by emailing legal@valuemarkers.com within 30 days of creating your account, with your name, your account email address, and a statement that you opt out of the arbitration agreement. That is all it takes; we will confirm in writing and it will not affect your subscription in any way. If you opt out in time, disputes are resolved by the courts under clause 21.

20.7Consumers in the EU, the EEA and the UK

If you are a consumer resident in the European Union, the European Economic Area or the United Kingdom, this clause applies to you only to the extent the law where you live permits. Nothing in it deprives you of the right to bring proceedings in the courts of your country of residence, or of any right to use an out-of-court dispute resolution body available to you there.

21Governing law and courts

These Terms and any dispute arising from them are governed by the laws of the State of Delaware, United States, without regard to its conflict of laws rules. The United Nations Convention on Contracts for the International Sale of Goods does not apply. Where a dispute is not subject to arbitration, the state and federal courts sitting in Wilmington, Delaware have exclusive jurisdiction, and you and we each consent to their jurisdiction and venue.

If you are a consumer resident in the European Union, the European Economic Area, the United Kingdom or another country whose law says so, this clause does not deprive you of the protection of the mandatory consumer law of your country of residence, and you may bring proceedings in its courts.

22Changes to these Terms

We may change these Terms. For a material change we email your registered address at least 14 days before it takes effect and publish the new text here with a new version string. Clarifications, typographic corrections and changes required by law may take effect at once.

Continuing to use the service after a change takes effect accepts the revised Terms. If you do not accept them, cancel and stop using the service before that date, and tell us if you believe a refund is due. We may ask you to accept a materially revised version in the product; the version you accepted is stored on your account, so both sides can tell which text governed at any moment.

23General

Entire agreement. These Terms, the privacy policy and the risk disclaimer are the whole agreement between us about the service and replace anything said or written before, except for any statement we made fraudulently.
Severability. If a provision is held unenforceable, it is narrowed to the minimum extent necessary or removed, and the rest continues in force.
No waiver. Not enforcing a right on one occasion does not waive it.
Assignment. You may not assign or transfer these Terms or your account without our written consent. We may assign them to an affiliate, or in connection with a merger, reorganisation or sale of the business, on notice to you.
Force majeure. Neither of us is liable for delay or failure caused by events beyond reasonable control, including natural disaster, war, civil unrest, government action, epidemic, and failures of power, network, hosting or third-party data providers.
Notices. We give notice to you by email at your account address, or in the product. You give notice to us at legal@valuemarkers.com. Notice is effective when sent.
No third-party rights. No one other than you and us has any right to enforce these Terms.
Language. These Terms are written in English. Any translation is provided for convenience, and the English text governs.

24Who to write to

Attitude Ventures LLC, a limited liability company formed in Delaware, United States, trading as ValueMarkers.

Registered agent for service of process: A Registered Agent, Inc., 8 The Green, Ste A, Dover, DE 19901, United States.

Legal notices, refunds and arbitration opt-outs: legal@valuemarkers.com. Everyday support: hello@valuemarkers.com. Data protection requests: see the privacy policy.