# What is Ricardian LLC? ❓

[Intro Article](https://medium.com/lexdaoism/ricardian-llc-limited-liability-nft-f64a162f751b) 📣

Ricardian is an NFT minter smart contract with embedded Delaware Series LLC Agreement functions and IPFS-hosted docs, governed by [LexDAO](https://twitter.com/lex_DAO) as a public good on Ethereum. The name and concept of Ricardian LLC is inspired by "[ricardian contracts](https://en.wikipedia.org/wiki/Ricardian_contract)", *i.e.*, agreements that are recorded with legal and code-based efficacy.

Ricardian LLC is a "Master" among a protected "Series LLC" network that is designed to grant compliant ethereum accounts with Delaware limited liability protections, while also avoiding the need for duplicative LLC filings. In other words: *1-click LLCs.* See below section, *"Is Ricardian 'Legal'* for more info. See also this article explaining the emergent use of Series LLC automation with smart contracts, *"*[*Series LLCs and Blockchain: Circling the Wagons*](https://jmasonbump.medium.com/series-llcs-and-blockchain-circling-the-wagons-4df21614cdab)*."*

A similar concept of open, Series LLC smart contract formation is being explored by the [Otoco](https://otoco.io/) suite. With respect to differences: Ricardian LLC is agnostic to how users might deploy related smart contracts, aiming to be cheaper to form a Series LLC through NFT minting. For example, an Aragon or Moloch DAO membership might place this NFT into their vault or voting smart contract to signify operating as a Ricardian LLC Series.

The Ricardian LLC Operating Agreement template is further governed by LexDAO representatives via the Ricardian LLC NFT `governance` role (see below, *How does Ricardian NFT contract work?*) to maintain operating terms, best practices, and overall compliance within Delaware law. Short of bringing the Delaware Secretary of State to the Ethereum blockchain, hosting an on-chain operating agreement with DAO governance seemed like next best thing.