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Terms of Service

Version of July 21, 2026 (superseded)

You are viewing a prior version of this document, effective July 21, 2026. It has been superseded. Read the current version.

These Terms of Service (“Terms”) govern your access to and use of DBOT, an AI-powered research and valuation platform available at this website (the “Service”) and operated by Aspire Intelligence, Inc. (“Aspire Intelligence”, “DBOT”, “we”, “us”, or “our”). By creating an account, logging in, or otherwise using the Service, you agree to be bound by these Terms and our Privacy Policy. If you do not agree, do not use the Service.

No Investment Advice

DBOT does not provide investment advice. Nothing on the Service constitutes financial, investment, legal, accounting, or tax advice.

  • DBOT is not a registered investment adviser, broker-dealer, or financial institution, and is not registered with the U.S. Securities and Exchange Commission, FINRA, or any other financial regulatory authority.
  • Reports, valuations, estimates, and any other output generated by the Service are produced automatically by artificial-intelligence systems and are provided for informational and educational purposes only.
  • No output of the Service is an offer, solicitation, or recommendation to buy, sell, or hold any security or other financial instrument, and no fiduciary, advisory, or professional relationship is created by your use of the Service.
  • AI-generated analysis may contain errors, omissions, or outdated information. Valuation outputs depend on assumptions that may prove incorrect.
  • You are solely responsible for your investment decisions. Always do your own research and consult a licensed financial advisor before making any investment decision. Past performance does not guarantee future results, and investing involves risk, including the possible loss of principal.

The Service

DBOT generates automated equity valuation reports (such as discounted cash flow and dividend discount analyses) and related research materials using multi-agent AI systems, publicly available market data, and the inputs you provide (such as a ticker and an investment thesis).

Beta product. The Service is provided as a beta. Features may be added, changed, or discontinued at any time without notice, availability is not guaranteed, and output formats and methodologies may evolve. We may impose or change usage limits at our discretion.

Eligibility and Accounts

  • You must be at least 18 years old to use the Service.
  • You must provide accurate registration information and keep your account credentials secure. You are responsible for all activity under your account.
  • You may not share, sell, or transfer your account, and you must notify us promptly of any unauthorized use.

Acceptable Use

You agree not to:

  • use the Service for any unlawful purpose or in violation of these Terms;
  • attempt to probe, scan, breach, or test the vulnerability of the Service or circumvent any authentication, rate-limiting, or security measure;
  • scrape, harvest, or bulk-extract content from the Service, or access it by automated means other than the interfaces we provide;
  • resell, redistribute, or commercially exploit the Service or its outputs as your own product, or misrepresent DBOT output as professional investment advice;
  • interfere with or disrupt the integrity or performance of the Service.

Payments and Report Credits

  • Reports are purchased as prepaid report credits (for example, packs priced at $2 per report). We may grant complimentary report credits at our discretion.
  • Payments are processed by Stripe; we do not store your card details. Prices may change, but changes will not affect credits you have already purchased.
  • Each generated report consumes one report credit. If a report fails to generate, the consumed credit is automatically refunded to your balance.
  • Except for the automatic refund of failed reports, purchases are final and non-refundable to the extent permitted by law. Report credits have no cash value and are not transferable.

Your Content and Intellectual Property

  • You retain ownership of the inputs you submit (such as investment theses and framing questions). You grant us a license to process and store those inputs to operate, maintain, and improve the Service.
  • Subject to these Terms, you may use the reports generated for your account for your personal, non-commercial research purposes.
  • The Service itself, including its software, design, models, and branding, is owned by us or our licensors and is protected by intellectual-property laws. These Terms grant you no rights in the Service other than the limited right to use it.

Third-Party Data

The Service relies on market and financial data from third-party sources. We do not guarantee the accuracy, completeness, or timeliness of any third-party data, and delays or errors in that data may affect generated reports.

Disclaimer of Warranties

THE SERVICE AND ALL OUTPUTS ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE, OR THAT ANY OUTPUT WILL BE ACCURATE OR RELIABLE.

Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUES, DATA, OR INVESTMENT LOSSES, ARISING OUT OF OR RELATED TO YOUR USE OF THE SERVICE OR ANY OUTPUT IT GENERATES, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. OUR TOTAL AGGREGATE LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICE WILL NOT EXCEED THE AMOUNTS YOU PAID US IN THE TWELVE (12) MONTHS BEFORE THE EVENT GIVING RISE TO THE CLAIM. SOME JURISDICTIONS DO NOT ALLOW CERTAIN LIMITATIONS, SO SOME OF THESE LIMITATIONS MAY NOT APPLY TO YOU.

Indemnification

You agree to indemnify and hold us harmless from any claims, losses, and expenses (including reasonable attorneys’ fees) arising out of your use of the Service, your violation of these Terms, or your violation of any law or the rights of a third party.

Termination

You may stop using the Service at any time. We may suspend or terminate your access at any time, with or without notice, if you violate these Terms or if we discontinue the Service. Sections 1 and 6 through 13 survive termination.

Changes to These Terms

We may update these Terms from time to time. When we do, we will revise the “Last updated” date above. Your continued use of the Service after changes take effect constitutes acceptance of the updated Terms.

Governing Law

These Terms are governed by the laws of the State of New York, without regard to its conflict-of-laws principles. Any dispute arising out of these Terms or the Service will be brought exclusively in the state or federal courts located in New York, and you consent to their jurisdiction.

Contact

Questions about these Terms? Contact us at legal@damodaranbot.com.