Terms of Use

1. What Provenance is — and what it is not

Provenance is an investment discipline system. It helps you write down what you believe, stress-test your reasoning, and hold yourself to your own decisions over time.

It is not investment advice. Specifically:

• Provenance is not a registered investment advisor, dealer, or portfolio manager, and using the service does not create an advisor–client, fiduciary, or similar relationship.
• The virtual investment committee is a set of fictional characters. They are constructs inspired by the published thinking and intellectual traditions of real investors; they do not represent, speak for, or endorse those individuals. Their output is a structured way of examining your reasoning — not a recommendation to buy, sell, or hold anything.
• Figures cited in committee sessions are working estimates unless they come from your own portfolio data. Verify any number before acting on it.
• Every investment decision you make is yours. Provenance records your decisions; it does not make them.

If you need investment, tax, or legal advice, engage a qualified professional.

2. Eligibility and your account

You must be at least 18 and able to form a binding contract. Keep your login credentials secure — you’re responsible for activity under your account. Give us accurate information, including a working email address.

3. Subscription, billing, and cancellation

Provenance is a paid subscription, billed in advance through our payment processor (currently Stripe). We don’t charge fees based on your assets, and there is no advisor channel.

• Cancellation: cancel anytime from your account or by emailing [email protected]. Cancellation takes effect at the end of the current billing period; you keep access until then.
• Refunds: amounts already billed are non-refundable except where the law requires otherwise. We don’t pro-rate partial periods.
• Price changes: we’ll give you at least 30 days’ notice by email before a price change takes effect. If you don’t want to continue at the new price, cancel before it does.

4. Your data and content

You retain ownership of everything you put into Provenance and everything the service produces for you: your portfolio information, theses, kill criteria, decision records, and committee session transcripts. Your transcripts belong to you.

How we handle personal information is covered by our Privacy Policy, which is part of these terms.

5. The licence you give us

So that the service can work — and so it can get better — you grant Provenance a limited, non-exclusive licence to:

• host, process, and display your content back to you (this is just how the product functions);
• prepare aggregated, de-identified analysis across users — for example, common thesis patterns, how often kill criteria are honoured, or what proportion of decisions get revisited on schedule — and to use and share those aggregate insights (e.g., “community trends”) in the product and in our materials, provided they can never reasonably identify you or reconstruct your content;
• review content internally to operate, support, debug, and improve the service.

This licence does not permit us to:

• publish, reproduce, or share your individual transcripts, theses, or portfolio data;
• sell your individual data to anyone, in any form;
• use your content to train AI models. Our AI providers are contractually restricted from doing so as well.

The aggregated, de-identified insights described above are different: those belong to Provenance, and we may use, publish, or commercialize them — always in forms that cannot reasonably identify you or reconstruct anything you wrote. Your data is never the product; what the community collectively teaches us about investment discipline may be.

The licence lasts while you have an account, plus a short period afterwards for backups, and survives only in aggregate form (insights already derived don’t un-derive).

6. Acceptable use

Use Provenance for your own investing practice. Don’t:

• use the service to provide advice or portfolio management to others, or otherwise resell it;
• attempt to access another user’s data, probe or overload our systems, or reverse-engineer the service;
• scrape the service or use automated agents to extract content at scale;
• input content that is unlawful or that you don’t have the right to share;
• attempt to manipulate the committee into producing content for redistribution.

We may suspend or terminate accounts that violate these rules.

7. Market data and third-party services

Prices and market data are sourced from third parties, may be delayed or inaccurate, and are provided for context only — never as a live feed and never as a basis for execution. The investment committee is powered by third-party large language models, which process your session content under contractual restrictions, including that your content is never used to train their models. The service also depends on third-party infrastructure (hosting, AI processing, payments); their availability affects ours.

8. Availability and changes

We work to keep Provenance available and useful, but we don’t guarantee uninterrupted service. We may add, change, or retire features. If we ever discontinue the service entirely, we’ll give you reasonable notice and a way to export your data.

9. Termination

You can close your account at any time. We can suspend or close accounts for breach of these terms, and where practical we’ll tell you why. On closure, we’ll delete your content in accordance with the Privacy Policy; you can request an export of your transcripts and records first.

10. Disclaimers and limitation of liability

The service is provided “as is” and “as available.” To the maximum extent permitted by applicable law (including Ontario consumer protection law, which may give you rights these terms can’t reduce):

• we make no warranties about investment outcomes — markets do what markets do, and your results are determined by your decisions;
• we are not liable for losses arising from investment decisions you make, from inaccurate third-party data, or from your reliance on committee output;
• our total liability for any claim is capped at the amount you paid us in the 12 months before the claim arose.

Nothing in these terms limits liability that cannot be limited by law.

11. Governing law

These terms are governed by the laws of the Province of Ontario and the federal laws of Canada applicable there. Disputes will be resolved in the courts of Ontario.

12. Changes to these terms

If we change these terms materially, we’ll email you at least 30 days before the change takes effect. Continuing to use the service after that date means you accept the updated terms. The current version always lives at provenanceic.com/terms.

13. Contact

Brideshead Economics Corporation
[email protected] · [email protected]