The LAO was organized in the spirit of The DAO, as a member-directed venture capital fund organized in the United States, with an aim to be compliant with U.S. law. Like The DAO, The LAO allows Members to pool capital, invest in projects, and share in any proceeds from the investment. The LAO is organized as a legal entity (a Delaware limited liability company) primarily administered via an online application (a "DApp") and related smart contracts.