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Kommanditselskab
A kommanditselskab (; abbreviated K/S) is the Danish equivalent of the limited partnership. The owners are divided into general partners (''komplementarer'' in Danish) and limited partners (''kommanditister'' in Danish). Often the only general partner of a K/S is an Anpartsselskab with the least possible capital, thus reducing the liability of the K/S to the capital of the Anpartsselskab. Liability The general partners have joint and several liability for the debts of the partnership while the limited partners have limited liability i.e. they are only liable on debts incurred by the firm to the extent of their investment. Often it is the general partners who are running the company while the limited partners acts as passive investors. Taxation of a K/S In Danish tax law a K/S is not taxable and does thus not pay corporation taxes. This means that the assets of the K/S is taxed as personal assets of the owners. This is a great advantage if the K/S is having a deficit as this c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Partnership
A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited partner. Limited partnerships are distinct from limited liability partnerships, in which all partners have limited liability. The GPs are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority, as agents of the firm, to bind the partnership in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ordinary c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Partnership
A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited partner. Limited partnerships are distinct from limited liability partnerships, in which all partners have limited liability. The GPs are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority, as agents of the firm, to bind the partnership in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ordinary c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denmark
) , song = ( en, "King Christian stood by the lofty mast") , song_type = National and royal anthem , image_map = EU-Denmark.svg , map_caption = , subdivision_type = Sovereign state , subdivision_name = Danish Realm, Kingdom of Denmark , established_title = History of Denmark#Middle ages, Consolidation , established_date = 8th century , established_title2 = Christianization , established_date2 = 965 , established_title3 = , established_date3 = 5 June 1849 , established_title4 = Faroese home rule , established_date4 = 24 March 1948 , established_title5 = European Economic Community, EEC 1973 enlargement of the European Communities, accession , established_date5 = 1 January 1973 , established_title6 = Greenlandic home rule , established_date6 = 1 May 1979 , official_languages = Danish language, Danish , languages_type = Regional languages , languages_sub = yes , languages = German language, GermanGerman is recognised as a protected minority language in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anpartsselskab
(; ApS) is the Danish term for a private limited company. ApS, when appended to the end of a Danish company name, is similar to Ltd. after the name of a British company. An ApS is required to have capital of at least 40 000 DKK (approx. 5 370 EUR The euro (symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . Th ...). References Official registration office for Danish company Types of business entity [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint And Several Liability
Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be: * jointly liable, or * severally liable, or * jointly and severally liable. Joint liability If parties have joint liability, then they are each liable up to the full amount of the relevant obligation. So if a married couple takes a loan from a bank, the loan agreement will normally provide that they are to be "jointly liable" for the full amount. If one party dies, disappears, or is declared bankrupt, the other individual remains fully liable. Accordingly, the bank may sue all living co-promisors for the full amount. However, in suing, the creditor has only one cause of action; i.e., the creditor can sue for each debt only once. If, for example, there are three partners, and the creditor sues all of them for the outstanding loan amount and one of them pays the liability, the creditor cannot recover further amounts from the partners who did not contribute to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of the company, not the assets of its shareholders or other investors. A shareholder in a corporation or limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any, except under special and rare circumstances permitting "piercing the corporate veil." The same is true for the members of a limited liability partnership and the limited partners in a limited partnership. By contrast, sole proprietors and partners in general partnerships are each liable for all the debts of the business (unlimited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. '' Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kommanditgesellschaft
A (abbreviated "KG", ; from + ) is the German name for a limited partnership business entity and is used in German, Belgian, Dutch, Austrian, and some other European legal systems. In Japan, it is called a ''gōshi gaisha''. Its name derives from the commenda, an early Italian medieval form of limited partnership. Description Partnerships may be formed in the legal forms of General Partnership (, GbR), or specialized in trading (, OHG), or Limited Partnership (''Kommanditgesellschaft'', KG). In the OHG, all partners are fully liable for the partnership's debts, whereas in the KG there are general partners (''Komplementär'') with unlimited liability and limited partners (''Kommanditisten'') whose liability is restricted to their fixed contributions to the partnership. Although a partnership itself is not a legal entity, it may acquire rights and incur liabilities, acquire title to real estate and sue or be sued. For example, a ''Gesellschaft mit beschränkter Haftung A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Danish Business Law
Danish may refer to: * Something of, from, or related to the country of Denmark People * A national or citizen of Denmark, also called a "Dane," see Demographics of Denmark * Culture of Denmark * Danish people or Danes, people with a Danish ancestral or ethnic identity * A member of the Danes, a Germanic tribe * Danish (name), a male given name and surname Language * Danish language, a North Germanic language used mostly in Denmark and Northern Germany * Danish tongue or Old Norse, the parent language of all North Germanic languages Food * Danish cuisine * Danish pastry, often simply called a "Danish" See also * Dane (other) * * Gdańsk * List of Danes * Languages of Denmark The Kingdom of Denmark has only one official language, Danish, the national language of the Danish people, but there are several minority languages spoken, namely Faroese, German, and Greenlandic. A large majority (about 86%) of Danes also s ... {{disambiguation Language and nation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Types Of Business Entity
A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country. For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases, for example: *private company limited by shares or Ltd. (UK, Ireland and the Commonwealth) *public limited company (UK, Ireland and the Commonwealth) *limited partnership *general partnership *chartered company *statutory corporation *state-owned enterprise *holding ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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