companydata.dkGeneral partnership (I/S)
An interessentskab (I/S) is a Danish general partnership with at least two owners (partners) who are personally, unlimitedly, and jointly liable for the business's debt. Partners can be both individuals and companies.
The I/S is the classic partnership form: two or more parties run a business together with no capital requirement. Joint and several liability means a creditor can demand the entire debt from a single partner, who must then seek recourse from the others.
Worth knowing
If all partners are limited-liability companies (e.g. two ApS companies), the partnership must file annual reports under the Financial Statements Act — otherwise the lenient rules for personally owned businesses apply. A partnership agreement is not a legal requirement, but indispensable in practice.
Related terms
Sole proprietorship (enkeltmandsvirksomhed)
A sole proprietorship (enkeltmandsvirksomhed) is a personally owned business with one owner, who is personally and unlimitedly liable for the business's obligations. There is no capital requirement, and the business is not a separate legal entity.
Private limited company (ApS)
An anpartsselskab (ApS) is a Danish private limited company where the owners are liable only for their contribution. It is Denmark's most common company type and requires share capital of at least DKK 20,000.
Reporting class (regnskabsklasse)
The reporting class (A, B, C, or D) is the Danish Financial Statements Act's grouping of companies by size and type. The class determines the content requirements for the annual report — the higher the class, the more disclosure.