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• W194953581 abstract "In recent years Denmark has carried out a number of company law reforms and, as with the reforms in many other countries, these reforms have been focused on creating better conditions for the conduct of business, including for SMEs and entrepreneurs.The aim of the major Danish reform of company law in 2009 was thus to create simple, clear and effective legislation so as to make it as easy as possible for businesspeople to administer their businesses and to survive. The reform was also intended to ensure dynamic and flexible regulation for the greater benefit of Danish undertakings and the competitiveness of Danish business. There was a wish to streamline regulations and to allow for flexibility in relation to the circumstances and needs of individual undertakings, and to do away with redundant rules and obstacles to globalisation. Finally, it was a stated goal that Danish companies legislation should be comparable with the best in the world.The Danish reforms thus reflect the international paradigm shift, in which the primary goal of company law is not to prevent abuse but to be enabling and facilitating for the conduct of business. In line with the international trend, Danish reforms from the late 1990s to the mid-2000s focused in particular on creating flexible frameworks for the internal governance of companies, while the subsequent focus has been more on capital requirements and capital protection. This is something that has been further emphasised in the latest amendments to companies legislation in 2013, with the introduction of a Danish variant of the German Unternehmergesellshaft. Part I of this contribution sets out the Danish reforms aimed at close corporations in an international context, and the main features of the Danish reforms are described.In Part II of this contribution there is a more detailed review of a number of the rules that apply to private limited companies and to entrepreneurial companies. To deal with all 375 legislative provisions would lie outside the scope of this contribution. There will thus be a focus on the rules relating to capital and internal governance which reflect the development towards greater flexibility referred to above. At the same time, the appropriateness of the rules for meeting the needs of SMEs will be reviewed. This analysis will refer to a number of empirical studies of close corporations which, among other things, give an insight into what undertakings want. The studies also give some insight into the problems actually faced by such undertakings. If regulation of close corporation is to satisfy the needs of undertakings, it must both regulate the relevant problems and the solution must meet the needs of undertakings.Finally, Part III of the contribution contains an assessment of the whether the European Private Company (SPE) and the Single-member limited liability company are viable from a Danish perspective." @default.
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• W194953581 date "2014-01-01" @default.
• W194953581 modified "2023-09-27" @default.
• W194953581 title "The Regulation of Close Corporations in Danish Company Law in an International Regulatory Context" @default.
• W194953581 doi "https://doi.org/10.2139/ssrn.2460745" @default.
• W194953581 hasPublicationYear "2014" @default.
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