The Northwest Ordinance of 1787 allowed for the admission of new states, protected individual rights, and addressed slavery in the old Northwest territories. It established a process for statehood based on population, guaranteed rights like trial by jury and freedom of religion, and prohibited slavery in the territories. The states subject to the ordinance were Ohio, Indiana, Illinois, Michigan, and Wisconsin. Overall, it was an important legislation that shaped the growth of the United States and promoted freedom and equality.