Legal · Effective November 1, 2026

Terms of service.

Plain English. If something is unclear, email hello@fantom.research before you rely on it.

1. Who we are

Fantom Research ("Fantom", "we", "our") is an independent research publication that publishes a weekly fragility screen covering publicly traded companies in selected speculative themes. We are not a registered investment adviser, a broker-dealer, or a fiduciary. These Terms of Service govern your use of the website at fantom-research.vercel.app and any related subdomains, pages, data files, and services (together, the "Service").

2. Agreement to these terms

By accessing the Service, joining the waitlist, or paying for a subscription, you agree to these terms and to our Privacy Policy and Investment Disclaimer. If you do not agree, do not use the Service.

3. Eligibility

You must be at least 18 years old and legally able to enter a binding contract. The Service is intended for use in jurisdictions where its content is lawful. You are responsible for your own compliance with local law. We may refuse service to anyone, at any time, for any lawful reason.

4. The content is research, not advice

Everything we publish — the ranked list, the methodology, individual scores, written notes, weekly commentary — is generic, methodology-driven information. It is not personalized investment advice, not a recommendation to buy, sell, or hold any security, and not an offer or solicitation of any kind. See our Investment Disclaimer for the full statement. You use our content at your own risk and with your own judgment.

5. Intellectual property

The Service, including the methodology, the tier framework, the ranked lists, the written commentary, the brand marks, the typography choices, the color palette, the code, and the overall site design, is owned by Fantom Research or its licensors and is protected by copyright, trademark, and other laws. We grant you a limited, revocable, non-exclusive, non-transferable license to view and use the Service for your personal, non-commercial research.

You may not: redistribute, republish, resell, or sublicense any part of the Service; scrape or systematically copy our data or scores; use our content to train a machine-learning model; create a derivative product that competes with the Service; or remove our attribution and present our output as yours. Pro subscribers may export their own CSV copies of the free and gated columns for their personal use.

6. Accounts and subscriptions

Some features require an account or a paid subscription. You are responsible for keeping your login credentials secure and for all activity under your account. Subscriptions renew automatically on their stated cycle until cancelled. You may cancel at any time; cancellation takes effect at the end of the current billing period and we do not pro-rate refunds for partial periods. Pricing may change on at least thirty days' notice; existing subscribers keep their current rate until the next renewal.

7. Acceptable use

You agree not to:

• use the Service to break any law or infringe anyone's rights;
• attempt to gain unauthorized access to the Service, our systems, or other users' data;
• interfere with the Service's operation, including by sending excessive traffic, probing for vulnerabilities without permission, or deploying automated scrapers;
• misrepresent yourself, impersonate anyone, or share paid content with people who have not paid;
• use the Service to harass, defame, or market unlawfully to anyone, including Fantom or its contributors.

8. Data accuracy

We take care in sourcing fundamentals, market data, and listing information. Despite that, data from third parties can be delayed, incomplete, revised, or simply wrong, and our scores can be wrong for any number of reasons. We publish timestamps and sources so you can verify what you need before relying on it. We make no warranty about completeness, accuracy, or timeliness.

9. Third-party links and services

The Service may link to or embed third-party pages, data feeds, or tools. We do not control those services and are not responsible for their content, terms, privacy practices, or availability. Following an external link is at your own risk.

10. No warranty

The Service is provided "as is" and "as available", without warranty of any kind, express or implied, including merchantability, fitness for a particular purpose, non-infringement, accuracy, or uninterrupted availability. We do not warrant that the Service, the scores, or the underlying data will be error-free or that any investment decision informed by them will be profitable.

11. Limitation of liability

To the fullest extent permitted by law, Fantom Research, its officers, contributors, and licensors are not liable for any indirect, incidental, consequential, special, exemplary, or punitive damages, or for any lost profits, lost revenue, lost data, or trading losses, arising out of or related to your use of the Service, even if we have been advised of the possibility of such damages. Our aggregate liability for any claim arising out of these terms or the Service is limited to the amount you paid us in the twelve months before the claim arose, or one hundred US dollars, whichever is greater. Some jurisdictions do not allow certain limitations; in those places, our liability is limited to the maximum extent permitted.

12. Indemnification

You agree to defend, indemnify, and hold harmless Fantom Research and its contributors from any claim, loss, or expense (including reasonable legal fees) arising out of your use of the Service, your breach of these terms, or your violation of any law or third-party right.

13. Changes to the Service and to these terms

We may add, change, or remove features of the Service at any time without notice. We may update these terms by posting a revised version with an updated effective date; material changes will be announced on the site. Your continued use of the Service after the effective date of a change means you accept the revised terms.

14. Termination

We may suspend or terminate your access to the Service at any time for any lawful reason, including breach of these terms or non-payment. Sections that by their nature should survive termination (intellectual property, no warranty, limitation of liability, indemnification, governing law) will survive.

15. Governing law and venue

These terms are governed by the laws of the State of Delaware, USA, without regard to its conflict-of-laws rules. Any dispute arising out of or related to these terms or the Service will be resolved exclusively in the state or federal courts located in Delaware, and you consent to the personal jurisdiction of those courts.

16. Severability and entire agreement

If any provision of these terms is held unenforceable, the rest remains in effect and the unenforceable provision is modified to the minimum extent needed to make it enforceable. These terms, together with the Privacy Policy and Investment Disclaimer, are the entire agreement between you and Fantom Research about the Service and supersede any prior agreement on the same subject.

17. Contact

Questions, notices, or legal process should go to hello@fantom.research.