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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.
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
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
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
Professional Services
Consulting
Retail
Construction
Technology
Healthcare
Real Estate
Agriculture
Creative Industries
Manufacturing
Food and Beverage
Trading
Artisanal Crafts
Education and Training
Legal
Corporate Services
Business Development
Compliance
Finance
Operations
Executive Leadership
Administrative
Risk Management
Partnership Management
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
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