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Simple General Partnership Agreement Template for Denmark

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Key Requirements PROMPT example:

Simple General Partnership Agreement

I need a Simple General Partnership Agreement under Danish law for a consulting business between three partners, with equal profit sharing and a specific focus on intellectual property protection, to commence operations on March 1, 2025.

What is a Simple General Partnership Agreement?

The Simple General Partnership Agreement is a crucial document for businesses operating in Denmark who wish to establish a formal partnership structure. This agreement is particularly relevant when two or more parties want to combine their resources, expertise, and efforts to conduct business together while sharing profits and losses. The document complies with Danish partnership law (Lov om visse erhvervsdrivende virksomheder) and includes essential provisions for partnership formation, management, and operation. It's commonly used by small to medium-sized businesses, professional service providers, and entrepreneurs who prefer a simpler business structure compared to a limited liability company. The agreement provides clear guidelines on partner responsibilities, capital contributions, profit sharing, decision-making processes, and dispute resolution mechanisms, while maintaining the flexibility that Danish law permits for partnership arrangements.

What sections should be included in a Simple General Partnership Agreement?

1. Parties: Identification of all partners entering into the partnership agreement, including full legal names and addresses

2. Background: Context of the partnership formation and the partners' intention to establish a general partnership

3. Definitions: Key terms used throughout the agreement

4. Partnership Formation: Declaration of partnership formation, business purpose, and commencement date

5. Name and Registration: Partnership name and details of registration with Danish Business Authority

6. Capital Contributions: Initial capital contributions of each partner and terms for additional contributions

7. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners

8. Management and Decision Making: Partnership management structure and decision-making processes

9. Partners' Rights and Obligations: Core rights and duties of partners, including participation in management and fiduciary duties

10. Banking and Financial Matters: Banking arrangements and financial management procedures

11. Accounting and Records: Requirements for maintaining partnership accounts and records in compliance with Danish law

12. Duration and Termination: Term of partnership and conditions for termination

13. Governing Law: Confirmation of Danish law as governing law and jurisdiction

14. Signatures: Execution section for all partners

What sections are optional to include in a Simple General Partnership Agreement?

1. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property, recommended when the partnership will develop or use significant IP

2. Non-Competition: Restrictions on partners competing with the partnership, useful for partnerships in competitive industries

3. Admission of New Partners: Process for admitting new partners, important if partnership growth is anticipated

4. Death or Incapacity: Procedures in case of partner death or incapacity, particularly important for family businesses or older partners

5. Dispute Resolution: Specific procedures for resolving disputes, including mediation or arbitration provisions

6. Insurance: Requirements for partnership insurance coverage, recommended for high-risk businesses

7. Employee Management: Provisions regarding hiring and managing employees, needed if the partnership will have employees

What schedules should be included in a Simple General Partnership Agreement?

1. Schedule 1 - Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions, including valuations of non-cash contributions

2. Schedule 2 - Business Plan: Initial business plan and strategy of the partnership

3. Schedule 3 - Partner Contact Details: Complete contact information for all partners and key representatives

4. Schedule 4 - Assets Register: List of partnership assets and their ownership status

5. Schedule 5 - Accounting Policies: Detailed accounting procedures and policies to be followed

6. Appendix A - Partnership Registration Documents: Copies of official registration documents with Danish Business Authority

7. Appendix B - Bank Account Details: Partnership bank account information and signing authorities

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
































Clauses
































Relevant Industries

Professional Services

Consulting

Retail

Construction

Technology

Healthcare

Real Estate

Agriculture

Creative Industries

Manufacturing

Food and Beverage

Trading

Artisanal Crafts

Education and Training

Relevant Teams

Legal

Corporate Services

Business Development

Compliance

Finance

Operations

Executive Leadership

Administrative

Risk Management

Partnership Management

Relevant Roles

Business Owner

Entrepreneur

Managing Partner

Legal Counsel

Company Secretary

Business Development Manager

Professional Service Provider

Chief Executive Officer

Chief Financial Officer

Business Advisor

Partnership Manager

Legal Administrator

Compliance Officer

Corporate Lawyer

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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