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A free semigroupoid algebra is the weak operator topology closed algebra generated by the left regular representation of a directed graph. We establish lattice isomorphisms between ideals and invariant subspaces, and this leads to a complete description of the weak operator topology closed ideal structure for these algebras. We prove a distance formula to ideals, and this gives an appropriate version of the Caratheodory interpolation theorem. Our analysis rests on an investigation of predual properties, specifically the properties for linear functionals, together with a general Wold Decomposition for -tuples of partial isometries. A number of our proofs unify proofs for subclasses appearing in the literature.

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