What is a ‘General Partnership’​ and Why Does a DAO So Often Get Classified As One?

Imagine this, there is a way where people can be organized all around the globe, without personally knowing each other, establishing their own rules and making their decisions autonomously which is encoded on a blockchain. This is not a mere imagination but DAOs are indeed making it a reality.

  • The partners are not authorized to sell or give away their stakes without the agreement of other partners.
  • All decisions must be taken unanimously.
  • The partners are jointly and severally liable.
  • If the partnership goes bankrupt, the partners are also declared bankrupt.

Author: Trisha Biswas

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Providing the Road to Regulatory Clarity in the Blockchain Industry.