A co-owners business is a commercial enterprise jointly owned and operated by two or more individuals or entities. Each co-owner holds a proprietary interest and typically participates in management decisions and profit distribution. The legal structure defining these relationships can vary, influencing liability and operational control.
Context
In the digital asset space, the concept of co-owners business applies to decentralized autonomous organizations or joint ventures holding digital assets. Questions arise regarding the legal recognition of shared ownership in tokenized entities and the allocation of responsibilities among participants. The absence of clear precedents for distributed ownership structures presents a legal and operational challenge for these ventures.
The judicial classification of a DAO as a general partnership fundamentally re-architects DeFi legal risk, imposing joint and several liability on participants.
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