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Business law

Business law

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Business law

  1. 1. BUSINESS LAW Lecture 6 1. Entrepreneurship as a Type of Business Activity. 2. State registration of legal entities and natural persons – entrepreneurs.
  2. 2. 1. Entrepreneurship as a Type of Business Activity. 1.1. Everyone has the right to entrepreneurial activity that is not prohibited by law. 1.2. The entrepreneurial activity of deputies, officials and officers of bodies of state power and bodies of local self-government is restricted by law. Art. 42 Constitution of Ukraine.
  3. 3. 1. Entrepreneurship as a Type of Business Activity. 1.3. Economic activity, carried out to achieve economic and social results and in order to generate profit shall be deemed entrepreneurship, and business entities shall be deemed entrepreneurs. 1.4. Economic activity may be carried out without the purpose to generate profit (non- profit economic activity).
  4. 4. 1. Entrepreneurship as a Type of Business Activity. 1.5. Entrepreneurship, to be understood as a separate, initiative, systematic, own-risk economic activity, carried out by business entities (entrepreneurs) with the purpose of achieving economic and social results, and generating profit. Art.42 Economic Code of Ukraine.
  5. 5. 1. Entrepreneurship as a Type of Business Activity. 1.6. Non-profit economic activity shall be understood as an independent systematic economic activity carried out by business entities, and aimed at achievement of economic, social and other results without the purpose of generating profit. Art. 52 Economic Code of Ukraine.
  6. 6. 1. Entrepreneurship as a Type of Business Activity. 1.7. Entrepreneurs shall have the right to perform independently without any limitations any such entrepreneurial activity that is not banned by the law. 1.8. Peculiarities of performing certain types of entrepreneurship shall be established by legislative acts. 1.9. The list of types of entrepreneurial activity subject to licensing, as well as the list of activities, wherein entrepreneurship is banned shall be established exclusively by the law. 1.10. State authorities and local governments may not carry out entrepreneurial activity. Entrepreneurial activity of officials of state authorities and local governments shall be restricted by the law in cases, provided by part two, Article 64 of the Constitution of Ukraine.
  7. 7. 1. Entrepreneurship as a Type of Business Activity. 1.11. Principles of Entrepreneurial Activity Entrepreneurship shall be conducted on the basis of: free choice by the entrepreneur of a type of entrepreneurial activity; independent development by the entrepreneur of his/her activity program, selection of suppliers and consumers of products manufactured, employment of material and technical, financial and other resources, the use of which is not limited by the law, fixing of prices for products and services in compliance with the law; free employment of personnel by the entrepreneur; commercial calculation and own commercial risk; free disposal of retained profit, left after payment of taxes, fees and other payments, envisaged by the law; independent performing by the entrepreneur of foreign economic activity; the use by the entrepreneur of an international currency share of proceeds at his/her own discretion.
  8. 8. 1. Entrepreneurship as a Type of Business Activity. 1.12. Organizational Forms of Entrepreneurship: Entrepreneurship in Ukraine shall be conducted in any organizational forms, envisaged by the law, at entrepreneur’s discretion. The procedure of setting up, state registration, reorganization and liquidation of subjects of entrepreneurship of certain organizational forms shall be determined by Economic Code and other laws. As to individuals and legal persons, for which entrepreneurship is not their major activity, the provisions of Economic Code shall apply to the part of their activity, which is entrepreneurial in its nature.
  9. 9. 2. State registration of legal entities and natural persons – entrepreneurs. 2.1. State registration of legal entities and individuals - entrepreneurs - official recognition by the state of the fact of creation or termination of a legal entity, certification of the fact of acquisition or deprivation of the status of an entrepreneur by an individual provided for by the Law of Ukraine "On state registration of legal entities, individuals - entrepreneurs and public formations" dated 15.05 .2003.
  10. 10. 2. State registration of legal entities and natural persons – entrepreneurs. 2.2. The state registrar of legal entities, natural persons - entrepreneurs and public formations - a person who is in an employment relationship with the subject of state registration, a notary.
  11. 11. 2. State registration of legal entities and natural persons – entrepreneurs. 2.3. The Unified State Register of Legal Entities, Individuals - Entrepreneurs and Public Formations is a unified state information system that provides collection, accumulation, processing, protection, accounting and provision of information about legal entities, individuals - entrepreneurs and public entities that do not have the status of a legal entity.
  12. 12. 2. State registration of legal entities and natural persons – entrepreneurs. 2.4. The holder of the Unified State Register of Legal Entities, Individuals - Entrepreneurs and Public Formations is the Ministry of Justice of Ukraine, which takes organizational measures related to ensuring the functioning of the Unified State Register of Legal Entities, Individuals - Entrepreneurs and Public Formations.
  13. 13. 2. State registration of legal entities and natural persons – entrepreneurs. 2.5. Consideration of documents of legal entities and natural persons - entrepreneurs submitted for state registration is carried out within 24 hours after receipt of documents submitted for state registration.
  14. 14. 2. State registration of legal entities and natural persons – entrepreneurs. 2.6. Documents submitted by the applicant for state registration of a legal entity: 1) application for state registration of a legal entity. 2) a copy of the original (notarized copy) of the decision of the founders on the establishment of a legal entity. 3) constituent document of a legal entity - in case of creation of a legal entity on the basis of its own constituent document. 4) a document confirming the registration of a foreign person in the country of its location (extract from the trade, banking, court register, etc.) - in the case of creating a legal entity, the founder (founders) of which is a foreign legal entity. 5) a document confirming payment of the registration fee.

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