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Small Business Partnership Agreement
1. Parties: Identification and details of all partners entering the agreement
2. Background: Context of the partnership formation and partners' intention to establish the business
3. Definitions: Key terms used throughout the agreement and their specific meanings
4. Partnership Formation: Official establishment of the partnership, including business name, address, and registration details
5. Business Purpose: Detailed description of the partnership's business activities and objectives
6. Capital Contributions: Initial and ongoing capital contributions from each partner
7. Profit and Loss Distribution: Agreement on how profits and losses will be shared among partners
8. Management and Decision Making: Structure for partnership management and process for making business decisions
9. Partners' Rights and Obligations: Detailed responsibilities and rights of each partner
10. Financial Management: Procedures for handling partnership finances, including banking and accounting
11. Partnership Meetings: Requirements and procedures for regular and special partnership meetings
12. Duration and Termination: Term of the partnership and conditions for termination
13. Dispute Resolution: Process for resolving conflicts between partners
14. Governing Law: Specification of Danish law as governing law and jurisdiction
1. Non-Competition: Restrictions on partners engaging in competing businesses - useful when partners have other business interests
2. Intellectual Property: Provisions regarding ownership and use of IP - important when the business involves creative or technical work
3. Employee Management: Procedures for hiring and managing employees - relevant when the partnership plans to have employees
4. Insurance: Requirements for business insurance - important for high-risk businesses
5. External Investment: Procedures for accepting external investment - relevant for partnerships planning future expansion
6. International Operations: Provisions for international business activities - necessary if operating beyond Denmark
7. Digital Assets and Online Presence: Management of website, social media, and other digital assets - relevant for businesses with significant online presence
8. Environmental Compliance: Environmental responsibilities and commitments - important for businesses with environmental impact
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions, including valuations of non-cash assets
2. Schedule 2: Profit Sharing Ratios: Specific percentages or formulas for profit and loss distribution among partners
3. Schedule 3: Partner Contact Details: Complete contact information and official addresses for all partners
4. Schedule 4: Business Plan: Initial business plan including financial projections and operational strategy
5. Schedule 5: Asset Register: List of partnership assets and their ownership status
6. Schedule 6: Partner Responsibilities: Detailed breakdown of specific roles and responsibilities assigned to each partner
7. Appendix A: Partnership Policies: Key operational policies and procedures for the partnership
8. Appendix B: Required Licenses and Permits: List of necessary business licenses and permits under Danish law
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