Legal regulation of entrepreneurial activity is an interconnected system of legal and non-legal instruments that enable citizens and legal entities at their own risk to carry out activities whose main purpose is to make a profit, and the main content is the production, exchange or redistribution of basic resources.
The legal regulation of entrepreneurial activity has its own specific features, the main of which is that there is an intersection of both private and public-state interests and means. Moreover, it is worth emphasizing that in relation to private interests, the contract is most often used as the main regulatory instrument, and public-law means are used in relation to public-state interests.
It is worth noting that the legal regulation of entrepreneurship and the civil law contract are inextricably linked with each other. From the point of view of private law, a contract is the main tool for interaction between individuals. However, in parallel with this, the agreement is the most important institution through which public authorities carry out legal regulation of entrepreneurial activity. Indeed, almost every agreement, both between individuals and between organizations, is built in accordance with one or another “model agreement” approved by a federal, regional or local government authority. The state in this case, as it were, sanctions certain business relationships.
In addition to contracts, which are nevertheless more relevant to the conduct of private law, entrepreneurial relations in a number of areas imply the use of funds related to so-called public law. An example of this is the fact that any major transaction can be concluded by a limited liability company only if the consent of the general meeting of members of this company is obtained. In this case, the state assumes not only responsibilities for the creation of model contracts, but also supervisory functions to oversee the correctness of a particular procedure.
Thus, the legal regulation of entrepreneurship implies the close interaction of private and public spheres. On the one hand, it is, first of all, the basis for interaction between citizens, as well as between citizens and organizations and institutions regarding the production and exchange of material goods, and on the other, the main regulator of this sphere is the legal norms created or authorized by the state.
As for the content and structure of the legal regulation of entrepreneurial activity, it is worth highlighting three main components.
Firstly, this regulation relates to relations directly related to the legal registration of entrepreneurship. These relations are entirely based on the constitutional right of citizens to carry out entrepreneurial activity at their own risk and risk , taking all the risks and responsibilities for its proper conduct and execution.
Secondly, the legal regulation of entrepreneurial activity covers relations directly related to entrepreneurship itself. Here, as already mentioned above, there is a synthesis of private and public-state regulation. Moreover, the state not only controls the correctness and legality of the implementation of certain transactions, but also with the help of taxes, interest rates and other instruments, it itself has a direct impact on the development of business in the country.
Thirdly, the consumer is an important component of any entrepreneurial activity, therefore legal regulation must necessarily cover this group of subjects. Here, one can distinguish both direct interaction between the entrepreneur and the consumer, and government intervention as the most important controlling body in the event of legal disputes.