A VC DAO needs a legal wrapper in order to interact with the real world, because otherwise everyone involved in the DAO may be jointly and severally liable in any jurisdiction.
Source quote, verbatim
In order to interact with the real world, the VC DAO needs a legal wrapper. Otherwise, everyone involved in the DAO may be jointly and severally liable in any jurisdiction.
From
Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021), V.3. Hybrid VC Model with Smart Contracting, p. 20 https://ssrn.com/abstract=3962614 · source PDF
Cite as
Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614
Holds when
DAOs transacting with counterparties in the offchain world
specializeskaal:claim:3652481-025 A DAO needs a legal wrapper to represent it because a DAO on its own cannot rent an office or sign a contract ...
specializeskaal:claim:3799320-018 A DAO needs a legal wrapper to represent it, because a DAO cannot by itself rent an office or sign a contract ...
supportskaal:claim:3652481-003 Third generation DAOs are defined by taking an association or organization that already holds a legal construc...
extended_bykaal:claim:5254152-015 Higher regulatory compliance depends on a DAO adopting an appropriate legal wrapper, such as an LLC or a found...
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