The Digital Legal Advisory Officer (DLAO)

The Digital Legal Advisory Officer (DLAO)

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Recently, a new breed of entrepreneur has emerged, one who operates across international borders and seamlessly navigates between the tangible and digital realms. The rise of web3 and the convergence of blockchain technology with the physical world have given birth to various categories of these pioneering entrepreneurs:

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1. Purely digital entrepreneurs, often referred to as digital nomads.

2. Entrepreneurs with a physical business presence who have transitioned into the digital domain.

3. Founders of businesses operating at the intersection of the physical and digital worlds.

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Since their inception, these ventures have garnered a global clientele, a multinational workforce, and investments from around the world. The defining characteristic of these entrepreneurs is their lifestyle, enabled by remote and digital work. They may be employees, self-employed individuals, freelancers, or the leaders of internationally oriented companies.

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These entrepreneurs find themselves in a markedly different position from their counterparts in more traditional setups, who operate within their home countries and cater to regional employees and clients. Consequently, these entrepreneurs and business owners encounter distinct legal requirements to facilitate smooth operations and safeguard both their physical and digital assets.

 

Regrettably, many struggle to find suitable advisors and often resort to piecing together do-it-yourself legal or corporate solutions from the internet.

 

 The critical needs of these entrepreneurs include:

• A multi-jurisdictional approach

• Advisory services that encompass both the physical and digital realms

• Guidance focused on protecting digital and physical assets while ensuring compliance with tax and regulatory frameworks

• Cost-effective and efficient advisory services

• Profound understanding of the web3 domain

• Comprehensive education and training opportunities, we have found that most of these entrepreneur want to understand the Multi-Jurisdictional process, therefore we work with the client educating them throughout the entire process.

 

What is a Digital Legal Advisory Officer?

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A Digital Legal Advisory Officer is a highly specialised professional with extensive international legal, banking, and accounting experience, coupled with in-depth knowledge of the IT industry. They serve as a vital link between the physical business community and legal, tax, and other service providers, specifically focusing on meeting the legal needs of digital entrepreneurs.

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They act as their clients' strategists, catalysts, guardians, and operators in relation to legal and corporate matters.

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Notably, the DLAO does not provide legal, accounting, and establishment services on its own; these services are also provided by collaborative partners (we call them our service providers) of Foresight Formula.

The role of the DLAO is to design the strategy and, in this process, help the client correctly identify the legal needs of their business, project, or startup. Then, the DLAO meets those needs by assembling and managing a team of the most suitable service providers. 

 

What does a Digital Legal Advisory Officer do?

The DLAO will collaborate with the client to identify and prioritise the client's needs, design a legal roadmap, and implement the tasks based on this roadmap. Some clients may need the DLAO to review agreements and transactions, opting for a monthly retainer, while others may require assistance with designing and implementing a complete multi-jurisdictional strategy with a focus on asset protection and succession planning.

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The DLAO will assist clients with questions such as:

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• What is the most suitable corporate structure that will fit our business model?

• Should we incorporate a company?

• Who should own that company?

• Which jurisdiction/country is the best for creating a company?

• What type of company?

• What about the taxes in the different countries?

• What licenses do we require?

• Who will review agreements to ensure we are signing the correct document?

• Where should our intellectual property be held?

• ...and many more.

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How do you pay?

A DLAO is an essential piece of a digital legal, corporate, and accounting solution, be it a digital legal department or a digital network of experts. Without the DLAO, founders would need to handle task sourcing and management themselves.

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All payments in this process fall into two categories:

• payment for DLAO services, usually charged at a monthly retainer plus project rate, and

• payment for service providers' services, charged on a task-by-task basis at fair rates.

 

It's important to note that we always specify prices upfront in a written proposal, ensuring that prices are agreed upon by the client and the service providers before any work begins.

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