Terms of Service

What Assay is — and what it is not

Assay is a research tool. It applies structured analytical frameworks to publicly available information about companies and markets. It produces analysis. It does not produce recommendations, buy or sell signals, target prices, or portfolio allocation advice.

Whether examining a single company in depth or analyzing how an entire portfolio of holdings interacts as a system, the methodology is the same — structured frameworks applied to publicly available evidence. The scope varies. The analytical rigor does not.

Assay is not a financial advisor, broker-dealer, or registered investment adviser. It does not know your financial situation, risk tolerance, investment timeline, tax circumstances, liquidity needs, or goals. The analytical methodology is general — the same frameworks and prompts apply regardless of who uses them. You provide the inputs. You interpret the outputs. You make your own investment decisions.

When the analysis says a thesis is “pressured” or flags a holding for deeper investigation, that is an analytical signal produced by applying frameworks to evidence — not a recommendation to act. The difference matters. A recommendation accounts for your complete financial picture. An analytical signal applies a framework to data. Assay does the latter.

When the analysis weighs multiple companies against each other or synthesizes findings across a portfolio and new opportunities, that is comparative analytical judgment — the same frameworks applied across a wider evidence base. The system may conclude that one company’s evidence is stronger than another’s. That is an analytical finding, not a directive. Whether to act on it, how, and when remains entirely your decision.

AI-generated analysis

All analysis is generated by Claude, an AI model built by Anthropic. The outputs are probabilistic — the model produces its best assessment given available information, but that assessment may be:

• Inaccurate or incomplete. AI can misread data, misinterpret context, or produce claims that sound more certain than the evidence warrants.
• Outdated. Analysis reflects publicly available information as of the analysis date. Markets move. Facts change.
• Inconsistent. Running the same analysis twice may produce different emphasis, framing, or conclusions.

The analytical architecture compensates — adversarial staging, mandatory uncertainty acknowledgment, bear-case-first reasoning — but no amount of structural discipline eliminates these limitations entirely. AI-generated analysis should never be the sole basis for investment decisions.

No outcome guarantees

We do not guarantee that analysis will be accurate, complete, timely, or profitable. Past analytical outputs have no bearing on future accuracy. All investing involves risk, including total loss of principal. Markets are complex systems and no analytical framework captures all variables.

Your account

You are responsible for maintaining the security of your account credentials. Use a strong, unique password. If you believe your account has been compromised, contact us immediately.

We reserve the right to suspend or terminate accounts that violate these terms, with notice except in cases of abuse.

Billing and refunds

Subscriptions are billed monthly or annually at the rate displayed when you subscribe. They renew automatically. You can cancel anytime through your account settings or by emailing us — cancellation takes effect at the end of the current billing period. You keep full access until then.

After your subscription ends: Your analyses remain available in read-only mode for 90 days. No new analyses can be initiated. After 90 days, your account and data are deleted per our Privacy Policy.

Deep dive credits: A credit is consumed when an analysis begins — not when it finishes. Each deep dive produces thousands of words of original analytical research; once initiated, the computational cost is incurred and the credit cannot be restored. Unused monthly credits do not roll over. Purchased add-on credits remain valid for 12 months.

First seven days: If you subscribe and decide within seven days that Assay is not for you, we will refund your subscription — minus the cost of any credits consumed. If you haven’t run anything, full refund. If you’ve used three deep dive credits, we deduct those. After seven days, cancellation gives you access through the end of your paid period — no refunds. If the service fails to deliver a paid analysis due to a system error on our end, we restore the credit.

Pricing changes: We will notify you at least 30 days before any price increase takes effect. You can cancel before the new rate applies.

Your data belongs to you

Your portfolio data is yours. Your analysis results are yours to read, reference, and use in your own investment process. If you delete your account, we delete your data — the full policy is in our Privacy Policy.

By using the service, you acknowledge that data from your analyses may be used to improve the experience for all subscribers. Anonymized deep dive outputs are contributed to the Research Library, a shared analytical corpus accessible to all subscribers. Scan findings inform editorial curation. Aggregate patterns across analyses may inform service improvements. None of this involves exposing your portfolio composition, positions, or identity. See our Privacy Policy for the full distinction between what is shared and what is not.

Our analytical prompts, pipeline architecture, and methodology are proprietary. You may not attempt to extract, reverse-engineer, or reproduce them.

Acceptable use

You agree not to:

• Redistribute analysis outputs as financial advice to third parties. Sharing a link to a Research Library entry is fine; presenting outputs as your own advisory service is not.
• Use Assay to provide investment advisory services to others.
• Attempt to reverse-engineer the analytical prompts or methodology.
• Use automated tools to access the service or scrape outputs.
• Interfere with the service’s operation or infrastructure.

Service availability

We aim to keep Assay available and reliable, but we cannot guarantee uninterrupted service. Analysis may fail, be delayed, or produce unexpected results due to API provider outages, market data unavailability, or infrastructure issues. We are not liable for losses resulting from service interruptions.

We may modify, improve, or discontinue features of the service. If we discontinue Assay entirely, we will provide at least 30 days’ notice, a full export of your data, and a prorated refund of any prepaid subscription.

Limitation of liability

To the maximum extent permitted by law, Assay Labs LLC is not liable for any indirect, incidental, consequential, or punitive damages arising from your use of the service. This explicitly includes — but is not limited to — investment losses, trading losses, lost profits, and lost opportunities.

Our total liability for any claim related to the service is limited to the amount you paid us in the 12 months preceding the claim, or $100, whichever is greater.

This is a research tool. The analysis it produces is one input among many in your investment process. You are responsible for your investment decisions.

Indemnification

You agree to indemnify Assay Labs LLC from claims arising from your use of the service, your investment decisions, or your violation of these terms. We are not responsible for how you act on analysis outputs.

Governing law

These terms are governed by the laws of the State of Delaware. Any disputes will be resolved in the state or federal courts located in Delaware.

Changes to these terms

We may update these terms. If we make material changes, we will notify you through the application before they take effect. Your continued use of Assay after changes take effect constitutes acceptance of the revised terms.

Contact

Questions about these terms? dan@assay-labs.com

Assay Labs LLC