Legal Entity Update & Proposed Changes [Signal]

This proposal’s expectation is to produce a community signal. Full details and discussions thus far can be found at:

https://forum.sushi.com/t/legal-entity-update-proposed-changes/12059

Synopsis:

In 2022, the Sushi community mandated that the DAO pursue a legal entity structure to protect business liability. In April of last year, Tangle, a community member, presented the initial governance discussion proposing hiring the law firm Fenwick & West LLP to provide the legal guidance and services to purpose-build the appropriate entity. Throughout the process, it became evident that the model should expand and employ additional steps outside their proposed model. Suggested to the team was further legal advice to help shape the process further with Gresham International. Gresham is a leading international law firm with offices in the UK and UAE. They’ve worked with leading centralized exchange operators and DeFi projects. Gresham advised expanding the entity scope to help establish a more global presence for Sushi, which provides optionality for future business initiatives unavailable in the Fenwick model. Working closely with Gresham, we propose a new model subsidized from the remainder of the budgetary allocation for Fenwick’s work. The result will increase its liability protections for the DAO and contributors.

TLDR:

With Gresham, we’ll maintain business continuity, expand global compliance and liability protections and future-proof the Sushi DAO with a more robust model outside of the scope of Fenwick’s model.