Carla Reyes, Southern Methodist University Dedman School of Law
This project explores whether and how regular people, the group of non-crypto enthusiast business owners that make-up the majority of LLC members, can take advantage of the rise of computational LLCs. The Article argues that the road to mass adoption of computational LLCs runs through entrepreneurs with little to no prior knowledge of coding, computational law, or blockchain technology and the DAOs that generate the most interest among law-makers and the media. Arguing computational LLCs offer benefits to even the smallest business owner, this Article proceeds in three parts. Part I examines the rise of computational LLCs, the new laws designed to enable their formation, and common objections to both. Section II answers those objections by detailing key legal and business advantages of computational LLCs for regular people. Section II also explores current models for computational LLC code, and reveals the obstacles those models present for most entrepreneurs and their lawyers. Section III solves those obstacles by introducing a form operating agreement for a single member computational LLC, written in natural language code and then considers the broader implications of computational LLCs for business law and entrepreneurial lawyers.