Re:DAOs, Hacks and the Law
by will_brown on Saturday June 18, 2016 @03:48PM
(#11930299)
>I think what is different about the DAO is that it's a corporation that is foreign and unregistered in every jurisdiction.
>Normally a corporation is registered in one or many countries, but how can it be registered in none?
Not exactly without precedent. Example 1: I conduct business individually or as a group without having created a corporation, that is a sole proprietorship and I/the group would be personally liable for the actions of the unregistered business. Example 2: I am lawfully registered as a Delaware C-corp but I am physically located in another State conducting business (without having properly qualified my DE C-Corp to do business in said jurisdiction), I will not receive the corporate protections for the activities I conduct in said State. Example 3: I have a lawful corporation, but I forget to file my annual report and said corp is administratively dissolved by the State, again I would loss corporate protections and be individually liable for the business activities.
>Normally a corporation is registered in one or many countries, but how can it be registered in none?
Not exactly without precedent. Example 1: I conduct business individually or as a group without having created a corporation, that is a sole proprietorship and I/the group would be personally liable for the actions of the unregistered business. Example 2: I am lawfully registered as a Delaware C-corp but I am physically located in another State conducting business (without having properly qualified my DE C-Corp to do business in said jurisdiction), I will not receive the corporate protections for the activities I conduct in said State. Example 3: I have a lawful corporation, but I forget to file my annual report and said corp is administratively dissolved by the State, again I would loss corporate protections and be individually liable for the business activities.