Stanford DAO Symposium - DAO Legal Structure

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A DAO’s decentralized structure and automated operations give rise to complex questions regarding the organization’s corporate status, the law applicable to the organization’s activities, as well as the organization’s ability to, among other things, file and pay taxes, open an entity bank account, sign legal agreements and limit liability for DAO members. To eliminate some of this complexity, the state of Wyoming recently enacted a law – the Wyoming DAO Supplement – that allows DAOs to be formed as limited liability companies.

This session will explore the implications for DAOs that choose to adopt a legal structure (are you still a DAO?), different options for setting up a legal structure, whether certain structures are optimal for particular projects, and the risks and advantages of each approach. In addition, the session will consider the Wyoming DAO Supplement, including whether it can (and should) be replicated in other jurisdictions, and how it compares to laws that are on the books in other states such as Delaware and Vermont.

DAOs just may be the tech buzzword of the year. With everyone from celebrities to VCs to crypto enthusiasts talking about DAOs, it is not surprising that more and more DAOs are launching every week. But just because you want to create a DAO, does that mean you should? And what are the steps needed to build and operate a business as a DAO? This session will consider whether and how to create a DAO, including what blockchain and DAO management tools you should use, how to launch the DAO in a fair and equitable way, and how to build a community around the DAO.