Thanks for your response. Here are some additional thoughts.
First, I agree it's a good place to start, yet am not sure that the potential duplication of the fork is more powerful as a deterrent than, say, being contractually obligated (via Partnership Agreement or Articles of Incorporation, etc.) to honor the Social Contract. Let's use a coffee shop as an example for an offline business idea. If the coffee shop had a DAC running its funding, distributions, and shareholder voting, etc., then another person could duplicate the open source DAC-portion of the coffee shop. And they could surely find a physical location, hire a staff, and order some beans. That's not too much different than BingoDAC, or whatever digital DAC you can imagine, because someone could theoretically copy it. BingoDAC may have first mover advantage and good will in the community, but there is probably plenty of space for more than one such corporation, perhaps branded and marketed differently. There may be spaces for hundreds or thousands of small businesses doing similar things, serving different market segments or different regions, so they are not necessarily direct competitors, except for the same pool of funding dollars (but I'm assuming there will be a large pool of potential investors on an exchange).
To technical folks, the digital verification of everything is extremely important. But I think when these DACs initially become successful, a lot of businesspeople will start looking at them. And at that point, they are going to recognize different business possibilities that don't live entirely on the blockchain. You could think of it as the Napster of crowd-funding/micro-investing with the built in trust of the blockchain's voting and distribution system.
Second, you can collateralize anything. A person starting an offline coffee shop could secure the DAC-end of the business with the real property (if owned) or with personal assets such as a car or some PTS/BitUSD, etc. in addition to the online + offline contracts, which are legally enforceable. So there might be ways the DAC would have somebody by the balls and be pretty sure of preventing fraud or voluntary default.