DOCSLIB.ORG

664 Definitions

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
664 Definitions § 301.7701–1 26 CFR Ch. I (4–1–11 Edition) Guam required to effectuate the provi- ate a separate entity for federal tax sions of this section shall be made purposes. For example, if two or more when convenient for the two govern- persons jointly construct a ditch mere- ments, but not less frequently than ly to drain surface water from their once in each calendar year. In com- properties, they have not created a sep- plying with paragraph (b) of this sec- arate entity for federal tax purposes. tion, only net balances will be trans- Similarly, mere co-ownership of prop- ferred between the two governments. erty that is maintained, kept in repair, Further, amounts transferred pursuant and rented or leased does not con- to paragraph (b) of this section may be stitute a separate entity for federal tax determined on the basis of estimates purposes. For example, if an individual rather than the actual amounts derived owner, or tenants in common, of farm from information furnished by tax- property lease it to a farmer for a cash payers, except that the net collections rental or a share of the crops, they do for 1973 and every third calendar year not necessarily create a separate enti- thereafter are to be transferred on the ty for federal tax purposes. basis of the information furnished by (3) Certain local law entities not recog- taxpayers pursuant to paragraph (d) of nized. An entity formed under local law this section. In order to facilitate the is not always recognized as a separate transfer of funds pursuant to this sec- tion, the Commissioner of Internal entity for federal tax purposes. For ex- Revenue and the Commissioner of Rev- ample, an organization wholly owned enue and Taxation of Guam shall ex- by a State is not recognized as a sepa- change such information, including rate entity for federal tax purposes if it copies of income tax returns, as will is an integral part of the State. Simi- ensure that the provisions of section larly, tribes incorporated under section 7654 and this section are being properly 17 of the Indian Reorganization Act of implemented. 1934, as amended, 25 U.S.C. 477, or under section 3 of the Oklahoma Indian Wel- [T.D. 7385, 40 FR 50265, Oct. 29, 1975] fare Act, as amended, 25 U.S.C. 503, are not recognized as separate entities for Definitions federal tax purposes. (4) Single owner organizations. Under § 301.7701–1 Classification of organiza- tions for federal tax purposes. §§ 301.7701–2 and 301.7701–3, certain orga- nizations that have a single owner can (a) Organizations for federal tax pur- choose to be recognized or disregarded poses—(1) In general. The Internal Rev- as entities separate from their owners. enue Code prescribes the classification (b) Classification of organizations. The of various organizations for federal tax classification of organizations that are purposes. Whether an organization is recognized as separate entities is deter- an entity separate from its owners for mined under §§ 301.7701–2, 301.7701–3, and federal tax purposes is a matter of fed- 301.7701–4 unless a provision of the In- eral tax law and does not depend on whether the organization is recognized ternal Revenue Code (such as section as an entity under local law. 860A addressing Real Estate Mortgage (2) Certain joint undertakings give rise Investment Conduits (REMICs)) pro- to entities for federal tax purposes. A vides for special treatment of that or- joint venture or other contractual ar- ganization. For the classification of or- rangement may create a separate enti- ganizations as trusts, see § 301.7701–4. ty for federal tax purposes if the par- That section provides that trusts gen- ticipants carry on a trade, business, fi- erally do not have associates or an ob- nancial operation, or venture and di- jective to carry on business for profit. vide the profits therefrom. For exam- Sections 301.7701–2 and 301.7701–3 pro- ple, a separate entity exists for federal vide rules for classifying organizations tax purposes if co- owners of an apart- that are not classified as trusts. ment building lease space and in addi- (c) Cost sharing arrangements. A cost tion provide services to the occupants sharing arrangement that is described either directly or through an agent. in § 1.482–7T of this chapter, including Nevertheless, a joint undertaking any arrangement that the Commis- merely to share expenses does not cre- sioner treats as a CSA under § 1.482– 664 VerDate Mar<15>2010 09:21 May 17, 2011 Jkt 223101 PO 00000 Frm 00674 Fmt 8010 Sfmt 8010 Y:\SGML\223101.XXX 223101 jdjones on DSK8KYBLC1PROD with CFR Internal Revenue Service, Treasury § 301.7701–2 7T(b)(5) of this chapter, is not recog- (2) An association (as determined nized as a separate entity for purposes under § 301.7701–3); of the Internal Revenue Code. See (3) A business entity organized under § 1.482–7T of this chapter for the rules a State statute, if the statute describes regarding CSAs. or refers to the entity as a joint-stock (d) Domestic and foreign business enti- company or joint-stock association; ties. See § 301.7701–5 for the rules that (4) An insurance company; determine whether a business entity is (5) A State-chartered business entity domestic or foreign. conducting banking activities, if any of (e) State. For purposes of this section its deposits are insured under the Fed- and § 301.7701–2, the term State includes eral Deposit Insurance Act, as amend- the District of Columbia. ed, 12 U.S.C. 1811 et seq., or a similar (f) Effective/applicability dates. Except federal statute; as provided in the following sentence, (6) A business entity wholly owned by the rules of this section are applicable a State or any political subdivision as of January 1, 1997. The rules of para- thereof, or a business entity wholly graph (c) of this section are applicable owned by a foreign government or any on January 5, 2009. other entity described in § 1.892–2T; (7) A business entity that is taxable [T.D. 8697, 61 FR 66588, Dec. 18, 1996, as amended by T.D. 9153, 69 FR 49810, Aug. 12, as a corporation under a provision of 2004; T.D. 9246, 71 FR 4816, Jan. 30, 2006; T.D. the Internal Revenue Code other than 9441, 74 FR 390, Jan. 5, 2009] section 7701(a)(3); and (8) Certain foreign entities—(i) In gen- § 301.7701–2 Business entities; defini- eral. Except as provided in paragraphs tions. (b)(8)(ii) and (d) of this section, the fol- (a) Business entities. For purposes of lowing business entities formed in the this section and § 301.7701–3, a business following jurisdictions: entity is any entity recognized for fed- American Samoa, Corporation eral tax purposes (including an entity Argentina, Sociedad Anonima with a single owner that may be dis- Australia, Public Limited Company regarded as an entity separate from its Austria, Aktiengesellschaft owner under § 301.7701–3) that is not Barbados, Limited Company properly classified as a trust under Belgium, Societe Anonyme Belize, Public Limited Company § 301.7701–4 or otherwise subject to spe- Bolivia, Sociedad Anonima cial treatment under the Internal Rev- Brazil, Sociedade Anonima enue Code. A business entity with two Bulgaria, Aktsionerno Druzhestvo. or more members is classified for fed- Canada, Corporation and Company eral tax purposes as either a corpora- Chile, Sociedad Anonima tion or a partnership. A business entity People’s Republic of China, Gufen Youxian with only one owner is classified as a Gongsi Republic of China (Taiwan), Ku-fen Yu-hsien corporation or is disregarded; if the en- Kung-szu tity is disregarded, its activities are Colombia, Sociedad Anonima treated in the same manner as a sole Costa Rica, Sociedad Anonima proprietorship, branch, or division of Cyprus, Public Limited Company the owner. But see paragraphs (c)(2)(iv) Czech Republic, Akciova Spolecnost and (v) of this section for special em- Denmark, Aktieselskab ployment and excise tax rules that Ecuador, Sociedad Anonima or Compania apply to an eligible entity that is oth- Anonima Egypt, Sharikat Al-Mossahamah erwise disregarded as an entity sepa- El Salvador, Sociedad Anonima rate from its owner. Estonia, Aktsiaselts (b) Corporations. For federal tax pur- European Economic Area/European Union, poses, the term corporation means— Societas Europaea (1) A business entity organized under Finland, Julkinen Osakeyhtio/Publikt a Federal or State statute, or under a Aktiebolag statute of a federally recognized Indian France, Societe Anonyme Germany, Aktiengesellschaft tribe, if the statute describes or refers Greece, Anonymos Etairia to the entity as incorporated or as a Guam, Corporation corporation, body corporate, or body Guatemala, Sociedad Anonima politic; Guyana, Public Limited Company 665 VerDate Mar<15>2010 09:21 May 17, 2011 Jkt 223101 PO 00000 Frm 00675 Fmt 8010 Sfmt 8010 Y:\SGML\223101.XXX 223101 jdjones on DSK8KYBLC1PROD with CFR.
Load more

Recommended publications
  • Liability of Members of the Board of Directors and the Managing Director-A Scandinavian Perspective
    Liability of Members of the Board of Directors and the Managing Director-A Scandinavian Perspective PROFESSOR ROLF DOTEVALL* I. Introduction In Scandinavian countries, questions concerning the liability of the company manage- ment have attracted great interest in recent years. Due to several highly publicized financial scandals that took place in the early 1990s in Denmark, Norway, and Sweden, these coun- tries extensively revised their Companies Acts during that period. In general, the amend- ments made to the Companies Acts involved modifications to management's obligations. Also, on several occasions over the past ten to fifteen years, Scandinavian courts have issued rulings concerning board member and managing director liability. The Companies Acts in the Scandinavian countries are similar, but not identical. They differ in how they treat private versus public business forms. The private form aims at regulating relationships in companies conducting business with few partners, in which the shares are not publicly traded. Conversely, a public company is a company whose shares may be traded on the stock exchange. For example, in Sweden, both private and public companies are regulated in the Companies Act (Aktiebolagslagen). In contrast, Denmark and Norway have various legislation schemes for each different company form. Under this construct, the Public Companies Act consists of mandatory rules whereas the private companies do not. However, under Swedish company law, the private form is subject to mandatory rules.' The objective of this article is to consider certain questions regarding the board of di- rectors' and the managing director's liability to the company under Scandinavian law. *Professor Rolf Dotevall is Professor in Commercial Law, Department of Law, School of Economics and Commercial Law, G6teborg University.
    [Show full text]
  • Denmark Country Profile 2021
    Denmark Country Profile EU Tax Centre June 2021 Key tax factors for efficient cross-border business and investment involving Denmark EU Member Yes. State Double Tax With the following countries, territories and jurisdictions: Treaties Argentina Cyprus Israel Montenegro(a) Switzerland Armenia Czech Rep. Italy Morocco Taiwan Australia Egypt Jamaica Netherlands Tanzania Austria Estonia Japan New Zealand Thailand Azerbaijan Faroe Islands Jersey Norway Trinidad & Bangladesh Finland Jordan SAR Pakistan Tobago Belarus Georgia Kenya Philippines Tunisia Belgium Germany Rep. of Korea Poland Turkey Bermuda Ghana Kuwait Portugal Uganda Brazil Greece Latvia Romania UK British Virgin Greenland Lebanon SAR Russia Ukraine Islands Guernsey Lithuania Serbia US Bulgaria Hong Kong SAR Luxembourg Singapore Venezuela Canada Hungary Macedonia Slovakia Vietnam Cayman Iceland Malaysia Slovenia Zambia Islands India Malta South Africa Chile Indonesia Mexico Sri Lanka China Ireland Sweden Croatia Isle of Man Note: (a) Treaty signed with former Yugoslavia applies. Most important Public Limited Company or Stock Corporation (Aktieselskab - A/S), Private forms of doing Limited Company (Anpartsselskab - ApS). business Legal entity A/S: DKK 400,000. capital ApS: DKK 40,000. requirements © 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. 1 Residence and A company is resident if it has been incorporated in Denmark or if the place of tax system effective management is in Denmark. A modified territorial income condition applies for resident companies. Generally speaking, income from permanent establishments (PEs) and foreign property is not included in a company's taxable income. However, the worldwide tax liability applies: if a group has opted for international joint taxation (see below); if there is a Controlled Foreign Company (CFC) tax liability (see below).
    [Show full text]
  • ANNEXES 1 to 2
    EUROPEAN COMMISSION Brussels, 25.10.2016 COM(2016) 683 final ANNEXES 1 to 2 ANNEXES to the Proposal for a Council Directive on a Common Consolidated Corporate Tax Base (CCCTB) {SWD(2016) 341 final} {SWD(2016) 342 final} EN EN ANNEX I (a) The European company or Societas Europaea (SE), as established in Council Regulation (EC) No 2157/2001 1 and Council Directive 2001/86/EC 2; (b) The European Cooperative Society (SCE), as established in Council Regulation (EC) No 1435/2003 3 and Council Directive 2003/72/EC 4; (c) companies under Belgian law known as “naamloze vennootschap"/“société anonyme”, “commanditaire vennootschap op aandelen”/“société en commandite par actions”, “besloten vennootschap met beperkte aansprakelijkheid”/“société privée à responsabilité limitée”, “coöperatieve vennootschap met beperkte aansprakelijkheid”/“société coopérative à responsabilité limitée”, “coöperatieve vennootschap met onbeperkte aansprakelijkheid”/“société coopérative à responsabilité illimitée”, “vennootschap onder firma”/“société en nom collectif”, “gewone commanditaire vennootschap”/“société en commandite simple”, public undertakings which have adopted one of the abovementioned legal forms, and other companies constituted under Belgian law subject to the Belgian Corporate Tax; (d) companies under Bulgarian law known as: “събирателното дружество”, “командитното дружество”, “дружеството с ограничена отговорност”, “акционерното дружество”, “командитното дружество с акции”, “кооперации”,“кооперативни съюзи”, “държавни предприятия” constituted under Bulgarian
    [Show full text]
  • ISIN DK0030416540 New Nordic Finco Holding A/S – EUR 23,000,000 Floating Rate Senior Secured Bonds Due 2022
    To the bondholders in: ISIN DK0030416540 New Nordic FinCo Holding A/S – EUR 23,000,000 Floating Rate Senior Secured Bonds due 2022 Copenhagen, 12 June 2020 Summons for Written Resolution – changes to the Bond Terms Nordic Trustee A/S (the “Bond Trustee”) acts as bond trustee (in Danish: repræsentant) for the bondholders in the abovementioned bond issue by New Nordic FinCo Holding A/S (the “Issuer”) pursuant to the bond terms dated 16 March 2018 as amended and restated on 16 June 2018 (the “Bond Terms”). Capitalised terms used herein shall have the meaning assigned to them in the Bond Terms unless otherwise defined herein. The information in this Summons for Written Resolution is provided by the Issuer, and the Bond Trustee expressly disclaims all liability whatsoever related to such information. 1. BACKGROUND With this Summons for a Written Resolution, the Issuer is requesting a change to the Bond Terms as further described below. The Issuer priorities the continuous dialogue with our Bondholders. As the Bondholders are aware, the only active portfolio company within the Group is Blue Cover and its Subsidiaries and as a consequence thereof the Market Adjusted Equity is in practice based on a single asset and not on a portfolio basis and are as such subject to market volatility and uncertainty in valuation. It is the view of the Issuer that for such reason Market Adjusted Equity and Market Adjusted Equity Ratio is no longer a relevant proxy for performance within the portfolio. Furthermore, as the Parent is currently in an on-shoring process, additional security for the Bondholders will be provided in the Danish Subsidiaries of Blue Cover in order to reflect that the Group’s operations mainly are in the Danish Group Companies.
    [Show full text]
  • Form 8832 (Rev
    Form 8832 (Rev. January 2012) Entity Classification Election OMB No. 1545-1516 Department of the Treasury Internal Revenue Service Name of eligible entity making election Employer identification number Type Number, street, and room or suite no. If a P.O. box, see instructions. or Print City or town, state, and ZIP code. If a foreign address, enter city, province or state, postal code and country. Follow the country’s practice for entering the postal code. ▶ Check if: Address change Late classification relief sought under Revenue Procedure 2009-41 Relief for a late change of entity classification election sought under Revenue Procedure 2010-32 Part I Election Information 1 Type of election (see instructions): a Initial classification by a newly-formed entity. Skip lines 2a and 2b and go to line 3. b Change in current classification. Go to line 2a. 2 a Has the eligible entity previously filed an entity election that had an effective date within the last 60 months? Yes. Go to line 2b. No. Skip line 2b and go to line 3. 2 b Was the eligible entity’s prior election an initial classification election by a newly formed entity that was effective on the date of formation? Yes. Go to line 3. No. Stop here. You generally are not currently eligible to make the election (see instructions). 3 Does the eligible entity have more than one owner? Yes. You can elect to be classified as a partnership or an association taxable as a corporation. Skip line 4 and go to line 5. No. You can elect to be classified as an association taxable as a corporation or to be disregarded as a separate entity.
    [Show full text]
  • Setting up in Denmark
    Setting up in Denmark 5. Forms of business enterprise Business operations in Denmark may be conducted under the fol- lowing legal forms: public limited company (aktieselskab) branch office (filial) private limited company (anpartsselskab) partnership (interessentskab) limited partnership (kommanditselskab) limited partnership company (kommandit-aktieselskab) co-operative society (andelsselskab) sole proprietorship or one-man firm (enkeltmandsfirma) commercial foundation (erhvervsdrivende fond) European companies European public limited-liability compa- nies, European Economic Interest Groupings and European Co- operative Societies (SE companies, EØFG and SCE) As foreign investors most often set up a public limited company or a branch office, these forms of business are explained in some detail. All public limited companies, private limited companies, limited partnership companies, commercial foundations, sole proprie- torships, partnerships, limited partnerships, co-operatives, cor- DANSKE BANK SETTING UP IN DENMARK 19 MARCH 2007 porate funds, the various types of European companies, branch offices of foreign corporations and other limited liability busi- nesses and societies must register with the Danish Commerce and Companies Agency. The registration is published in the Reg- istration Gazette on the Danish Commerce and Companies Agencys Web site. 5.1 Public limited company (aktieselskab) The Danish Public Companies Act reflects Scandinavian efforts to harmonise legislation with EU rules governing public limited com- panies and the right of establishment. DANSKE BANK SETTING UP IN DENMARK 20 MARCH 2007 5.1.1 Formation procedure The following procedure is mandatory: 1. The promoters must draw up and sign a memorandum of asso- ciation which must contain a draft of the articles of association, the price at which shares are offered for subscription, the period within which the first general meeting is to be held, etc.
    [Show full text]
  • List of Foreign Issuers That Have Claimed Exemption from Registration
    List of Foreign Issuers that Have Claimed Exemption from Registration June 10, 2004 1 4 Imprint Group plc United Kingdom 2 AB Lietuvos Telekomas Lithuania 3 ABSA Group Ltd. South Africa 4 Accor S.A. France 5 ACOM Co. Ltd. Japan 6 Acclaim Energy Trust Canada 7 Adidas Salomon AG Germany 8 Advanced Info Service Public Co. Ltd. Thailand 9 Advantage Energy Income Fund Canada 10 AEM S.p.A. Italy 11 Aeroflot Russian International Airlines Russia 12 African Gem Resources Ltd. South Africa 13 African Marine Minerals Corp. Canada 14 Agenix Ltd. Australia 15 AIFUL Corp.Japan 16 Airspray N.V. Netherlands 17 Aldeasa S.A. Spain 18 All Nippon Airways Co. Ltd. Japan 19 Allgreen Properties Ltd. Singapore 20 Alpha General Holdings Ltd. Bermuda 21 Altai Resources, Inc. Canada 22 Altran Technologies S.A. France 23 Amadeus Global Travel Distribution S.A. Spain 24 America Telecom S.A. de C.V. Mexico 25 American Manor Corp. Canada 26 AMP Ltd. Australia 27 AMRAD Corp. Ltd. Australia 28 AmSteel Corp Berhad Malaysia 29 Angang New Steel Co. Ltd. China 30 Anglo American Corp. of South Africa South Africa 31 Anglo Irish Bank Corp. plc Ireland 32 Antenna 3 de Television SA Spain 33 Antofagasta plc United Kingdom 34 AO Mosenergo Russia 35 AO Samaraenergo Russia 36 AO Siberian Oil Company Russia 37 AO Surgutneftegas Russia 38 AO TD Gum Russia 39 Apasco Mexico 40 APF Energy Trust Canada 41 Applied Gaming Solutions of Canada Inc. Canada 42 Applied Optical Technologies plc United Kingdom 43 Aquarius Platinum Ltd. Bermuda 44 Arcelor SA Luxembourg 45 Arcon International Resources plc Ireland 46 Argent Resources Ltd.
    [Show full text]
  • Anpartsselskaber Efter Loven Af 1996, 1998
    Anpartsselskaber efter loven af 1996 Søren Friis Hansen Anpartsselskaber efter loven af 1996 Søren Friis Hansen Anpartsselskaber, efter loven af 1996 1. udgave /1. oplag © GadJura, Thomson Information A/S (ITID A/S), København 1998 ISBN 87-607-0484-5 Omslag: Kjeld Brandt Grafisk Tegnestue, København Grafisk tilrettelæggelse: Axel Surland Tryk: AKA-PRINT A/S Mekanisk, fotografisk eller anden gengivelse af denne bog eller dele af den er ikke tilladt ifølge gældende dansk lov om ophavsret. Alle rettigheder forbeholdes. Indholdsfortegnelse Hovedtræk Forord . 13 Kapitel 1. Anpartsselskabets placering i det selskabsretlige univers . 15 Kapitel 2. Stiftelse af anpartsselskaber . 45 Kapitel 3. Ledelse af anpartsselskaber . 57 Kapitel 4. Kreditorbeskyttelse. 81 Kapitel 5. Anpartshavernes rettigheder . 105 Kapitel 6. Erstatningsansvar . 135 Kapitel 7. Fusion, omdannelse og spaltning . 145 Kapitel 8. Anpartsselskabers ophør, likvidation og konkurs. 153 Kapitel 9. Koncernret . 163 Forkortelser . 187 Domsregister . 188 Stikordsregister . 189 Indholdsfortegnelse Detaljeret Kapitel 1. Anpartsselskabets placering i det selskabsretlige univers . 15 1.1. Formålet med fremstillingen . 15 1.1.1 En selvstændig fremstilling af anpartsselskabsretten . 15 1.1.2 De væsentligste ændringer af anpartsselskabsretten. 16 1.2 Definition af et anpartsselskab . 17 1.2.1 Anpartsselskabet er et kapitalselskab . 17 1.2.2 Anpartskapitalen . 18 1.2.3 Begrænset hæftelse for selskabets gæld . 20 1.2.4 Afgrænsning over for andre selskabsformer. 21 1.2.5 Valg af selskabsform . 22 1.3 Anpartsselskabet i historisk og europæisk perspektiv . 24 1.3.1 Anpartsselskabets oprindelse i Tyskland . 24 1.3.2 Anpartsselskabet eksporteres til andre lande . 25 1.3.3 Anpartsselskabet i dansk ret . 26 1.3.4 Die Gesellschaft mit beschränkter Haftung i tysk ret.
    [Show full text]
  • Form 8832, Entity Classification Election
    The form you are looking for begins on the next page of this file. Before viewing it, please see the important update information below. New Mailing Addresses Addresses for mailing certain forms have changed since the forms were last published. The new mailing addresses are shown below. Mailing address for Forms 706‐A, 706‐GS(D), 706‐GS(T), 706‐NA, 706‐QDT, 8612, 8725, 8831, 8842, 8892, 8924, 8928: Department of the Treasury Internal Revenue Service Center Kansas City, MO 64999 Mailing address for Forms 2678, 8716, 8822-B, 8832, 8855: Taxpayers in the States Below Mail the Form to This Address Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana,Kentucky, Maine, Maryland, Department of the Treasury Massachusetts, Michigan, New Hampshire, New Jersey, Internal Revenue Service Center New York, North Carolina, Ohio, Pennsylvania, Rhode Kansas City, MO 64999 Island, South Carolina, Vermont, Virginia, West Virginia, Wisconsin Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Department of the Treasury Louisiana, Minnesota, Mississippi, Missouri, Montana, Internal Revenue Service Center Nebraska, Nevada, New Mexico, North Dakota, Ogden, UT 84201 Oklahoma, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, Wyoming This update supplements these forms’ instructions. Filers should rely on this update for the changes described, which will be incorporated into the next revision of the forms’ instructions. Form 8832 Entity Classification Election (Rev. December 2013) OMB No. 1545-1516 Department of the Treasury ▶ Internal Revenue Service Information about Form 8832 and its instructions is at www.irs.gov/form8832. Name of eligible entity making election Employer identification number Type Number, street, and room or suite no.
    [Show full text]
  • Anvendelsen Af Business Judgment Rule I Dansk Kapitalselskabsret På Baggrund Af Capinordic-Dommen Og En Komparativ Analyse Af Amerikansk Og Norsk Ret
    Anvendelsen af business judgment rule i dansk kapitalselskabsret på baggrund af Capinordic-dommen og en komparativ analyse af amerikansk og norsk ret The business judgment rule’s application in Danish corporate law based on the »Capinordic-judgment« and a comparative analysis of US and Norwegian law af KRISTOFFER MACKENHAUER NIELSEN og RASMUS BLAK PEDERSEN Direktionsgangene og bestyrelseslokalerne ville være meget svære at besætte, hvis ikke det var for »business judgment rule«, da de pågældende ledelsesmedlemmer i så fald ville risikere at ifalde an- svar for samtlige beslutninger, der efterfølgende viser sig at være »forkerte«. Som en naturlig følge heraf, og som bølgevirkninger fra finanskrisens indtræden i 2007-2008, hvor flere danske virksom- heder kollapsede, stilles ofte spørgsmålet om, hvorvidt ledelsesansvarsreglerne i tilstrækkeligt om- fang sanktionerer forsømmelser og motiverer til en forsvarlig selskabsdrift. Efter finanskrisen æn- dredes en række love på området, hvorved kravene til kapitalselskabsledelsen efter flere teoretikeres opfattelse skærpedes, eller i hvert fald blev præciseret og med den nyligt afsagte dom i Capinordic- sagen, kan det således igen vurderes hvorvidt reglerne tilstrækkeligt forfølger disse mål. Med hjemmel i selskabslovens § 361, stk. 1, kan ledelsen pålægges ansvar for manglende op- fyldelse af deres forpligtelser. Forpligtelserne fremgår lige dele af de skrevne regler i selskabsloven og særlovgivningen i relation hertil samt af gængse normer i de pågældende brancher. Ansvaret efter selskabslovens § 361, stk. 1 hviler på den almindelige culparegel, hvis indhold må udfyldes af disse pligter og normer. Den 15. januar 2019 så vi, at Højesteret, i sin dom i Capinordic-sagen, stadfæ- stede, at man bør være påpasselig med at tilsidesætte det forretningsmæssige skøn, som selskabsle- delsen foretager i sit virke.
    [Show full text]
  • Doing Business in Denmark This Document Describes Some of the Key Commercial and Taxation Factors That Are Relevant on Setting up a Business in Denmark
    Doing Business in Denmark This document describes some of the key commercial and taxation factors that are relevant on setting up a business in Denmark. dfk.com Prepared by Addere Revision +44 (0)20 7436 6722 2 Doing Business in Denmark Background Country overview Denmark has a royal head of state and is governed by a parliamentary democracy, Denmark is a small country of islands within which there is a multi-party in Northern Europe and is a part of structure with several parties represented Scandinavia. Copenhagen is the capital and in Government. Denmark has a capitalist the principal language is Danish. Denmark system of production, characterised by has approximately 5.6 million inhabitants, private ownership of businesses and of which 2.9 million are active employees. production. However, there is considerable The Danes are generally well educated yet regulatory control from the state and customarily informal. They therefore have other public authorities, and they provide a relaxed and humorous approach to life, comprehensive services for the citizens. which is reflected in their attitude towards authority. Economic overview Characteristic features of Denmark are primarily the welfare system, The Danish economy is small and open, which ensures equal rights and access very dependent on trade with other to public services for all, and the countries, and has no influence over democratic government. Denmark is also international trading conditions or central characterised by gender equality, freedom economic factors (e.g. through affecting of speech, an active business life and interest rates). high-quality research and development environments. dfk.com +44 (0)20 7436 6722 Doing Business in Denmark 3 Denmark’s economic policy is in line with Transport infrastructure EU guidelines, which were jointly agreed by EU countries in the interest of their Denmark covers an area of approximately long-term development and employment.
    [Show full text]
  • Handbook on Industrial Property Information and Documentation
    HANDBOOK ON INDUSTRIAL PROPERTY INFORMATION AND DOCUMENTATION Ref.: Standards – ST.20 page: 3.20.1 STANDARD ST.20 RECOMMENDATIONS FOR THE PREPARATION OF NAME INDEXES TO PATENT DOCUMENTS INTRODUCTION 1. In spite of the recent emergence of on-line data bases containing bibliographic data of patent documents, including names, the use of printed name indexes prepared by industrial property offices is universal and widespread and will continue to be in the foreseeable future. This Standard is addressed to industrial property offices producing indexes to patent documents giving names of applicants, inventors, patentees or assignees, and are designed to promote a uniform presentation of names occurring in name indexes as well as a uniform method of ordering the names in the index itself. 2. For the purposes of this Standard the expression “patent document” comprises patents for invention, plant patents, inventors' certificates, design patents, utility certificates, utility models, documents of addition thereto and published applications therefor. 3. Users of name indexes to patent documents, be it indexes of names of inventors or of applicants, face two main problems: (a) a name chosen by the user as a basis for his search query in a particular name index is presented therein in a substantially different form and may thus not be found by the user; (b) a name or its variant (even in the case of coincidence) may be ordered in the name index elsewhere than that expected by the user. 4. Name variants which are likely to be chosen for search are usually derived by the user from the following sources: – official publications of industrial property offices (e.g., the front page of a patent document, announcements in an Official Gazette), – secondary or patent-associated literature (abstracts journals of various abstracting agencies, articles, surveys, etc.), – advertizing publications, trade marks, direct communication with colleagues, etc.
    [Show full text]