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Guidelines

A compilation of best practices for LL-DAOs across different challenge areas.

Pilots & Best Practices

Challenge Areas

In each Challenge Area, we consider a wide solution spectrum — including blockchain code, contract law, and good faith social conventions. We consider both theoretical legal principles as well as actual laws in particular jurisdictions.

  1. Formation

    • Derive legal formation documents from the DAO's code and vice versa.

    • Automate legal agreement execution via cryptographic signing and hashing.

    • Record automated legal agreements on-chain and in state registrars when required.

  2. Maintenance

    • How do human person(s) effectively assume the DAO's administrative roles?

    • How do third parties effectively assume roles such as the DAO's lawyers and accountants?

    • How can we ensure alignment between the DAO and its surrogate(s)?

  3. Contracts

    • How can the DAO enter into legally binding agreements with customers and participants?

    • Arbitration: how are disputes with (and within) the DAO resolved?

    • Liquidated Damages: what remedies are available when the DAO breaches an agreement?

  4. Liability

    • How are ordinary business liabilities handled by the DAO and its participants?

    • What about criminal liability for participants?

  5. Tax

    • Recommended tax structure (i.e., what elections to make)?

    • How should the DAO account for and pay taxes?

  6. Property

    • How does the DAO manage off-chain assets?

    • Tangibles: real property, machinery, equipment?

    • Intangibles: IP, software licenses, domains?

  7. Profit Distributions & Tokenization

    • Determine and encode ownership/governance rights of the DAO's Members

    • How can the DAO tokenize its membership or profit interests in a compliant way?