There’s a lot of questionable legal opinions in this thread (although I know at least a few people claim to actually be lawyers IRL), and I gotta be honest, a lot of what I’m reading doesn’t make sense to me (as someone that is not a lawyer, but has a lot of contract law experience as a founder and as a son/brother of active lawyers/legislators).
My recommendation here would be to follow @nick.eth’s original suggestion and let Fenwick start things off on the Foundation side, and the DAO right now should focus on the DAO bylaws (as in governance/proposals/etc) instead. If the separation between DAO/Foundation is still an open question (I think @nick.eth is right about them being separate, but it’s a reasonable confusion), I would still recommend pausing discussion a bit and ask Fenwick (or w/e firm) to give an actual legal opinion instead of us guessing. They can likely answer the question in like, minutes.