1. Research-only platform

Research provides equity research, sample reports, thesis notes, scorecards, valuation framing, catalysts, risks, monitoring notes, and related informational content. The product is for self-directed research only and is not designed to account for your financial condition, objectives, risk tolerance, tax status, liquidity needs, investment horizon, or other personal circumstances.

2. No advice, offer, or recommendation

Nothing on Research is investment, legal, tax, accounting, or financial planning advice. No content is an offer, solicitation, endorsement, instruction, or personalized recommendation to buy, sell, hold, short, or otherwise transact in any security, derivative, strategy, account, product, or service. You are solely responsible for your own due diligence, decisions, trades, and risk management.

3. No advisory relationship

Use of Research does not create an investment adviser, broker-dealer, fiduciary, agency, portfolio-management, or client relationship with BlackWillow Research. BlackWillow Research does not manage assets, take custody of funds or securities, execute trades, route orders, clear transactions, or act on your behalf.

4. Market risk and performance

Investing and trading involve substantial risk, including loss of principal. Past performance, win-rates, model results, backtests, simulations, hypothetical outputs, target prices, rankings, thesis outcomes, or realized research metrics do not guarantee future results and should not be read as a promise that any user will achieve similar outcomes.

5. Data, models, and research limits

Market data, company information, news, filings, forecasts, analyst-authored research, model-assisted output, and AI-generated content may be delayed, incomplete, inaccurate, unavailable, or revised without notice. Models can fail, overfit, misclassify, omit material information, or produce outputs unsuitable for live trading. You should independently verify all information before relying on it.

BlackWillow Research combines proprietary fundamental and technical models with company filings, management disclosures, industry context, and qualitative diligence. Model outputs are research inputs rather than standalone conclusions. Standardized financial metrics may differ from issuer-presented non-GAAP measures because of classification, timing, normalization, and source-data conventions.

Valuation and return scenarios use the reference price shown in each report and are illustrative research assumptions only. They are not management guidance, promises of return, or instructions to transact. Scenario ranges may become stale as prices, estimates, fundamentals, and market conditions change.

Unless expressly stated otherwise, reports are not issuer-sponsored. Any issuer-specific commercial relationship, compensation arrangement, or material conflict applicable to external distribution should be disclosed separately at publication.

6. Public samples and gated access

Sample reports may be available publicly for selected tickers. Other equities research may be gated, unavailable, invite-only, or subject to future account, subscription, licensing, or contract terms. We may suspend or terminate access for security risk, misuse, nonpayment where applicable, or violation of these terms.

7. User responsibilities

You must use Research lawfully and only for your own permitted research. You may not scrape, redistribute, resell, reverse engineer, interfere with, or misuse the product, its reports, its data, or its access controls. You are responsible for maintaining account security and for all activity under your account.

8. Privacy and usage analytics

We may process account, access, device, and product-usage information needed to operate, secure, improve, and support Research. Usage analytics may include page views, report access, archive activity, feature use, and related telemetry. Third-party infrastructure providers may process technical information needed to host and secure the product.

9. Intellectual property

Research, its software, models, interfaces, research formats, reports, text, charts, page design, and other product content are owned by BlackWillow Research or its licensors. Except as expressly allowed in writing, no right, title, or license is granted to copy, publish, distribute, train on, resell, or commercially exploit product content.

10. Third-party services and links

Research may link to or rely on third-party services for authentication, hosting, analytics, payments, market data, company information, communications, or external websites. We are not responsible for third-party services, content, availability, policies, or failures.

11. No warranty

Research is provided "as is" and "as available." To the maximum extent permitted by law, BlackWillow Research disclaims all warranties, express or implied, including warranties of accuracy, availability, merchantability, fitness for a particular purpose, non-infringement, and uninterrupted operation.

12. Liability limit and indemnity

To the maximum extent permitted by law, BlackWillow Research is not liable for trading losses, lost profits, lost data, business interruption, or any indirect, incidental, consequential, special, exemplary, or punitive damages arising from Research or these terms. You agree to indemnify BlackWillow Research against claims, losses, liabilities, damages, and expenses arising from your misuse of Research, violation of these terms, or violation of law.

13. Changes

We may update these terms or Research at any time. Continued use after an update means you accept the updated terms. We may modify, suspend, or discontinue any feature, report, access method, data source, or product availability without liability.

14. Contact

For support or enterprise access, contact info@theblackwillow.com.