Document background
The Limited Liability Partnership Agreement is a foundational document used when establishing a partnership structure that combines the flexibility of a traditional partnership with limited liability protection under Danish law. This document is particularly crucial for professional service providers, consulting firms, and businesses seeking to operate with reduced personal liability exposure while maintaining partnership benefits. It addresses key aspects required by Danish legislation, including registration with the Danish Business Authority, capital requirements, and compliance with the Danish Partnership Act. The agreement comprehensively covers partnership formation, management, profit sharing, partner obligations, and dissolution procedures, while incorporating specific provisions for limited liability protection. It's essential for businesses requiring a more sophisticated partnership structure than a general partnership but preferring the partnership model over a corporate structure.
