June 20th, 2022
June 20th, 2022

AGENDA:

-Legal structure:

For-profit or non-profit

Just because we are a non-profit DAO, DOESN’T mean we can’t have economic activities

With the surplus of the profits, we would re-utilize those funds to contribute towards the purpose of the DAO

Wage compensation is not limited by DAO structure

WE CAN’T: Re-distribute profits to the members of the DAO

Keep in mind: Cohere Network is a for-profit entity, we can raise funds through that vehicle

Is the interplay across the DAO and the Ltd clear enough to ensure we’re being fully regulatory compliant?

Use the Cohere Ltd to pay out in $COHERE, pay salaries through the non-profit

Consult with lawyer:

If it is a requirement to be a shareholder in the Ltd to be a member of the DAO - then is there a conflict of interest?

This is not necessarily a requirement

If the DAO is running the Ltd,

I think Cabin was talking about using Colorado’s Cooperative Laws-

https://thedefiant.io/solving-the-riddle-of-the-dao-with-colorados-cooperative-laws/⁠

⁠

Unincorporated Nonprofit Association:

https://www.nolo.com/legal-encyclopedia/what-an-unincorporated-nonprofit-association.html⁠

⁠

a16z:

⁠

https://a16zcrypto.com/dao-legal-entity-how-to-pick/⁠

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https://www.coindesk.com/business/2022/06/02/a16z-says-us-daos-better-off-adopting-legal-structures-paying-taxes/⁠

⁠

Exploring 508c1a and LCA’s

In deciding what the ideal legal framework should be, we should explore what the intention of the DAO is first

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June 20th, 2022June 20th, 2022