Commercial Law and its Fundamental Principles

The economic law is a legal branch, which is a set of certain normative and legislative acts that regulate and regulate all types of entrepreneurial activities, as well as closely related to it other relations, including non-commercial nature, which is extremely important in the current conditions of the free market, rough Economic development and high rates of industrial growth.

The economic law also entrusts one of the key social functions to ensure economic and political stability in society. Under the jurisdiction of this legislative branch there are three groups of formal legal relations. The first of these includes those that are purely entrepreneurial in nature and are directly related to the production process, the performance of certain commercial works or the provision of services.

The second category should include those relationships that are mostly in the legal and not the commercial plane, and which are established between legal entities, private entrepreneurs and a variety of state regulatory and supervisory bodies. This section of the economic legislation regulates the administrative-organizational, managerial and property aspects of economic activity. Also in his sphere of responsibility are scrupulous and often contentious issues of profit distribution.

And, finally, the third category of economic relations regulated by economic law covers state regulation and control by official authorities to observe compliance of business entities with legality. This also includes various legislative acts and decisions of the judiciary, aimed at ensuring public and public interests.

The list of types of legal relations that regulates business law is not complete and exhaustive. It follows that the sphere of distribution of this legal discipline includes both economic activity itself and various forms of relations that develop during its implementation. All subjects of economic law function in various sectors, which makes this sphere of legislation a complex scientific discipline, since it includes various normative acts of civil, labor, transport, land and other related codes. This greatly contributes to the development of product and service markets in the direction of meeting the spiritual, material and moral needs of the whole society, with the indispensable condition of civilized legal business conduct by economic operators and guaranteed receipt of their profit or other type of income, strengthening national interests, the security of the country and its sovereignty.

Consequently, the principles of this legal branch fulfill a socially significant function. The following fundamental principles are inherent in economic law: freedom of entrepreneurial activity, full legal independence of its subjects, legislative equality of all forms of ownership, non-admission of monopolization of any sphere of the free market and development of healthy fair competition.

Also of great importance are the sources of economic law, which in Russia are the Constitution of the Russian Federation; Various federal laws; Set of adjacent codes; Presidential decrees; All kinds of state standards; Government regulations; Normative acts of ministries, departments, administrations and regional authorities.