Company Release Form

Company Release Form Template for Denmark

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Document background

The Company Release Form is a critical legal instrument used in Danish business transactions where one company needs to formally discharge another from specific obligations, claims, or liabilities. This document is particularly relevant in scenarios such as post-acquisition settlements, resolution of business disputes, or conclusion of major business relationships. The form must comply with Danish legal requirements, including the Danish Contracts Act (Aftaleloven), Companies Act (Selskabsloven), and Data Protection Act (Databeskyttelsesloven). It typically includes provisions for data protection, confidentiality, and where relevant, intellectual property rights and marketing permissions. The document's structure ensures it is both comprehensive and enforceable under Danish law, while providing clarity on the scope and terms of the release.

Suggested Sections

1. Parties: Identification of the releasing company and the recipient entity, including full legal names, registration numbers, and addresses

2. Background: Context of the release, explaining the relationship between parties and purpose of the release

3. Definitions: Key terms used throughout the document, including 'Confidential Information', 'Released Claims', 'Effective Date', etc.

4. Scope of Release: Detailed description of what is being released, including specific claims, rights, or obligations

5. Representations and Warranties: Company's confirmation of authority to grant release and other essential declarations

6. Consideration: Description of what is being given in exchange for the release

7. Data Protection Compliance: GDPR and Danish Data Protection Act compliance provisions

8. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes

9. Signatures: Execution block with authorized signatories' details and signature spaces

Optional Sections

1. Non-Revocation Period: Optional cooling-off period during which the release cannot be revoked, recommended for significant releases

2. Confidentiality: Additional confidentiality provisions if the release involves sensitive information

3. Intellectual Property Rights: Specific provisions about IP rights if the release involves creative works or proprietary information

4. Marketing and Publicity Rights: Terms regarding usage of company information or materials for marketing purposes

5. Severability: Clause ensuring remainder of agreement remains valid if any part is found unenforceable

6. Assignment: Terms regarding whether rights under the release can be assigned to other parties

Suggested Schedules

1. Schedule 1 - Released Claims: Detailed list of specific claims, rights, or obligations being released

2. Schedule 2 - Released Materials: Inventory of any physical or digital materials covered by the release

3. Schedule 3 - Authorized Representatives: List of persons authorized to act under the release

4. Appendix A - Data Processing Terms: Detailed GDPR-compliant data processing provisions if personal data is involved

5. Appendix B - Usage Rights: Specific terms for usage of company materials, particularly for marketing purposes

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