The concept of Decentralized Autonomous Organizations has gained significant attention in recent years due to their potential to transform the way we organize and govern ourselves. This paper presents a thorough review of DAOs, including their history, membership structures, voting mechanisms, and various applications. We also delve into the legal implications of DAOs, exploring the current legal landscape, regulatory frameworks, and legal challenges they face. Furthermore, we conduct an analysis of current trends and offer our perspective on the primary obstacles that hinder widespread adoption. In conclusion, DAOs hold enormous potential to impact society, but further research and development are necessary before their potential can be fully realized.