Data License Agreement

This Data License Agreement ("License") governs your use of the financial data ("Data") made available through the Valuein Service. The Data consists of over 105 million standardized financial facts derived from SEC EDGAR filings, covering more than 12,000 public companies from 1994 to the present. The Data includes standardized income statements, balance sheets, cash flow statements, financial ratios, entity metadata, security identifiers, index membership records, taxonomy guides, and derived reference datasets.

The Data is delivered through Valuein's REST API as Parquet files hosted on Cloudflare R2, accessible via the Python SDK, Excel Power Query integration, or direct API calls. This License is supplementary to and incorporated by reference into the Valuein Terms of Service. In the event of a conflict between this License and the Terms of Service, the more restrictive provision shall apply.

Subject to your compliance with this License and the Terms of Service, Valuein grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to access and use the Data solely in accordance with the permitted uses for your subscription tier as described below. This license is personal to the account holder and may not be shared with, assigned to, or exercised by any other individual or entity except as expressly permitted under the Enterprise and Custom tiers.

The license is subscription-based: your right to access the Data exists only for the duration of your active, paid subscription (or active free tier account). The license does not convey any ownership interest in the Data or any Valuein intellectual property.

Sample (Free) Tier: You may use the Data for personal evaluation of the Service, non-commercial academic research, prototyping and proof-of-concept development, and educational purposes. You may not use Data obtained through the Sample tier for any commercial purpose, including but not limited to production trading systems, client deliverables, or commercial publications.

Growth Tier: You may use the Data for all Sample tier purposes, plus: commercial financial research and analysis for your individual use, production applications and trading systems operated by you as an individual, fund research and investment analysis for a single fund or portfolio you manage, internal reports and dashboards not distributed to third parties, and published research and articles that cite Valuein as the data source. Growth tier access is limited to a single individual. If multiple team members require access, an Institutional or Custom tier subscription is required.

Institutional Tier: You may use the Data for all Growth tier purposes, plus: team-wide access within a single organization (up to 10 concurrent API keys), integration into internal tools and platforms used by your organization, client-facing reports and presentations that incorporate the Data with Valuein attribution, and white-label dashboards and applications for your clients, provided that Valuein is credited as the underlying data source in a reasonably visible manner.

Custom Tier: Permitted uses are defined in your individual Custom tier agreement. Custom tiers may include redistribution rights, resale licensing, removal of attribution requirements, and other terms negotiated on a case-by-case basis.

Regardless of your subscription tier, the following uses of the Data are prohibited unless you hold a Custom tier license that explicitly permits them:

Resale and Redistribution: You may not resell, sublicense, rent, lease, or otherwise distribute the raw Data or substantially unmodified copies of the Data to any third party. This includes making the Data available through your own API, data feed, download service, or file-sharing mechanism.

Competing Products: You may not use the Data to build, train, or improve a financial data product or service that competes with Valuein. This includes using the Data as a primary input for a data aggregation, normalization, or distribution service.

Machine Learning and AI Training: You may not use the Data to train, fine-tune, or validate machine learning models, artificial intelligence systems, or large language models without a separate written license from Valuein.

Systematic Replication: You may not systematically download, cache, or store the entire dataset (or a substantial portion thereof) with the intent to create an independent copy that would replace continued use of the Service.

Misrepresentation: You may not present the Data as your own original work or remove, obscure, or alter any Valuein attribution, watermarks, or metadata.

When you publish, distribute, or display analysis, visualizations, reports, or applications that incorporate the Data, you must include a clear attribution to Valuein as the data source.

Acceptable attribution formats include: "Data provided by Valuein (valuein.biz)", "Source: Valuein", or "Financial data: Valuein.biz".

Attribution must be placed in a reasonably visible location. For written reports, include attribution in a footnote, endnote, or data sources section. For web applications and dashboards, include attribution in a visible footer, sidebar, or "About the data" section. For academic publications, include a citation in the references or data appendix. For social media posts, include "Data: @valuein" or "Source: valuein.biz" in the post text.

Attribution is not required for internal-only use (reports and dashboards viewed exclusively within your organization) or for Custom tier subscribers whose agreement explicitly waives attribution requirements.

The financial filings sourced from the U.S. Securities and Exchange Commission's EDGAR system are public domain documents. Valuein does not claim copyright over the raw text of SEC filings, nor does this License restrict your independent access to or use of EDGAR data obtained directly from the SEC.

However, Valuein's Data constitutes a substantial derivative work built on top of EDGAR filings, including: extraction and parsing of financial facts from raw XBRL and HTML filings; standardization and normalization of reporting concepts across different companies, time periods, and taxonomies; point-in-time accuracy tracking with knowledge timestamps that record when each fact became available; amendment tracking and restatement handling; quarterly derivation from year-to-date figures reported in 10-Q filings; entity resolution and security identifier mapping; cross-referencing of filings, entities, and securities into a unified relational schema; and quality control, validation, and error correction processes.

This derivative work — the schema design, normalization logic, point-in-time methodology, and the resulting structured dataset — is the proprietary intellectual property of Valuein and is protected under applicable copyright and trade secret law.

Valuein's Data employs a point-in-time (PIT) accuracy methodology designed to eliminate survivorship bias and look-ahead bias in historical financial analysis.

Knowledge Timestamps: Every fact in the dataset includes a knowledge_at timestamp recording the date and time when Valuein first made that fact available in the dataset. This allows you to reconstruct the information set that would have been available at any historical date.

Amendment Tracking: When a company files an amendment (e.g., 10-K/A or 10-Q/A) that restates previously reported figures, both the original and amended values are preserved in the dataset with their respective knowledge_at timestamps. The original value is not overwritten.

Survivorship Bias Mitigation: The Institutional and Custom tier datasets include data for companies that have been delisted, acquired, merged, or gone bankrupt. This ensures that historical analyses are not biased toward companies that survived to the present day.

Despite these methodological commitments, Valuein does not guarantee that the Data is free from errors, omissions, or inaccuracies. The Data is derived from SEC filings which themselves may contain errors. Valuein's standardization process may introduce additional errors. The Data is provided "as is" and you should independently verify any Data point that is material to an investment or business decision.

Your API key is a confidential credential that grants access to the Data according to your subscription tier. You are solely responsible for the security of your API key.

You must not share your API key with any individual or entity not authorized under your subscription tier. You must not embed your API key in client-side code, public repositories, or any location where it may be exposed to unauthorized parties. You must not publish your API key in documentation, blog posts, tutorials, or social media.

If you believe your API key has been compromised, you must rotate it immediately through your account settings and notify us at [email protected]. Valuein reserves the right to revoke and replace any API key that we reasonably believe has been compromised, without prior notice.

You are responsible for all Data access and API usage that occurs using your API key, including any unauthorized access resulting from your failure to secure the key.

This License terminates automatically when your subscription ends, whether by cancellation, non-payment, or account termination by Valuein.

Upon termination: your right to access the Data through the Service ceases immediately; your API key is revoked; you may retain copies of Data that you have already downloaded and incorporated into your own analyses, reports, or applications created during the active license period; however, you may not continue to access, download, or retrieve new Data from the Service; and you may not use retained Data to build or operate a service that competes with Valuein.

For clarity, if you built a dashboard during your subscription that displays charts derived from the Data, you may continue to display those existing charts after termination, but you may not refresh or update them with new Data from the Service without an active subscription.

Valuein reserves the right to modify the terms of this License. Material changes will be communicated with at least 30 days' notice. Continued use of the Service after the effective date of changes constitutes acceptance of the revised License.

This Data License Agreement is governed by the laws of the State of Wyoming, United States, without regard to its conflict of law principles. Any disputes arising under this License shall be resolved in accordance with the Dispute Resolution provisions of the Terms of Service.