DAO Legal Forms Around the World

Abstract The assignment of decentralized autonomous organizations (DAOs) to concrete legal company forms causes enormous difficulties around the world. That is why some states have recently taken corresponding legislative initiatives. Although existing, nonspecific legal forms of certain jurisdictions, such as the Cayman Islands’ foundation company, Guernsey’s Special Purpose Trust, or Switzerland’s association are commonly used by DAOs, they are not completely tailored to the features and needs of DAOs and their future development, providing the necessary legal certainty for DAOs and their participants. The DAO Model Law created a well-founded basis for the legal structure of DAO companies based on functional and legal equivalence. Depending on the peculiarities of the respective jurisdiction, selective adjustments and/or the implementation of specific company forms for DAOs are conceivable and necessary. Consequently, there is a need for further research in this area.