Terms of Service

Last updated: 8 July 2026 · Applies to northpathadvisory.eu, The NorthPath Letter, and Manish Goel Plus memberships

1. Who we are

This website and The NorthPath Letter are operated by NorthPath Advisory OÜ, an Estonian private limited company, registry code 17537081, registered office at Sepapaja tn 6, 15551 Tallinn, Estonia (“NorthPath”, “we”, “us”). Contact: info@northpathadvisory.eu. By using this site or purchasing a membership you agree to these Terms.

2. The service

We publish long-form editorial and educational essays on businesses and capital markets. The free tier gives you the newest issue of the Letter, on the web and by email. A Manish Goel Plus membership unlocks the complete archive of past essays and all daily member editions, for as long as your membership remains active.

3. Membership, billing and renewal

Paid memberships are sold by NorthPath Advisory OÜ and processed by Memberful and Stripe. Prices are stated in euro. Memberships renew automatically — monthly or annually, per the plan you choose — until cancelled. We may change prices with at least 30 days’ notice; changes apply from your next renewal, and if you do not accept a change you may cancel before it takes effect.

4. Cancellation, withdrawal and refunds

You may cancel future renewals at any time from your account; your access continues until the end of the period already paid. Because a membership grants immediate access to the complete digital archive, payments are non-refundable once access has been granted. Where you are an EU/EEA consumer, you expressly request and consent at checkout to immediate performance (immediate access to the digital content and service) and acknowledge that you thereby lose the 14-day right of withdrawal under Article 16(m) and (a) of Directive 2011/83/EU and the corresponding provisions of the Estonian Law of Obligations Act. Nothing in this section affects statutory rights that cannot be waived, or remedies for content that is defective or not as described.

5. Your licence and acceptable use

Membership is personal and non-transferable. You receive a limited, revocable licence to read the content for your own use (including your ordinary professional reference). You may not share login credentials, systematically download or scrape the archive, republish, resell or redistribute the content, or use it to train machine-learning systems, without our written permission. Brief quotation with attribution and a link is welcome. We may suspend or terminate access, without refund, for material breach of this section.

6. Intellectual property

All content on this site — text, illustrations, design and the NorthPath name and marks — is the property of NorthPath Advisory OÜ or its licensors and is protected by copyright and other laws. All rights reserved.

7. Not investment advice

NorthPath Advisory OÜ is not a MiFID II-authorised investment firm. All content is journalism and education for a general audience. Nothing on this site constitutes investment advice, a recommendation, or an offer or solicitation in respect of any financial instrument. Where individual securities are discussed, the author’s position is disclosed in line with Regulation (EU) No 596/2014 (Market Abuse Regulation), Article 20. You remain solely responsible for your investment decisions and should consult an authorised financial adviser regulated in your own jurisdiction.

8. Availability and changes to the service

We aim for continuous availability but do not guarantee uninterrupted access. Publication cadence, features and the composition of the member editions may evolve; we will not materially reduce what an active paid membership includes during a period you have already paid for.

9. Liability

To the extent permitted by law, our aggregate liability arising out of or in connection with the service is limited to the amount you paid us in the twelve months before the event giving rise to the claim. Nothing in these Terms excludes or limits liability that cannot be excluded under applicable law, including for intentional misconduct or gross negligence.

10. Termination by us

If we discontinue the paid service, or terminate your membership other than for breach, we will refund the unused portion of any period you have already paid, pro rata. Termination for material breach of section 5 carries no refund.

11. Changes to these Terms

We may update these Terms from time to time. Material changes will be announced on this page and, for members, by email, at least 14 days before they take effect. Continued use after the effective date constitutes acceptance.

12. Governing law and disputes

These Terms are governed by Estonian law. Disputes are subject to the jurisdiction of Harju County Court (Harju Maakohus), Estonia — except that if you are a consumer habitually resident in the EU/EEA, you retain any protections and jurisdiction rights granted by the mandatory law of your country of residence.

13. Contact

Questions about these Terms: info@northpathadvisory.eu · NorthPath Advisory OÜ (registry code 17537081), Sepapaja tn 6, 15551 Tallinn, Estonia.