This Model Law is aimed at harmonization of the legal regulation of entrepreneurship across participating countries. It establishes a comprehensive legal framework governing both private (commercial) and public (regulatory) relations in the field of entrepreneurship. The Law defines key concepts such as entrepreneur, entrepreneurial activity, consumer, and public-private partnership, and identifies the main sources of regulation, including national legislation, international treaties, and business practices. It sets fundamental principles such as freedom of enterprise, equality of participants, protection of property, contractual freedom, and the prohibition of arbitrary state interference, alongside principles guiding state regulation, including transparency, proportionality, and competition protection. The Law outlines the organizational and operational foundations of entrepreneurial activity, covering different forms of business (individual entrepreneurs, commercial and non-commercial organizations, joint activities, and public-private partnerships). It regulates the creation, reorganization, and liquidation of companies, establishes rules on insolvency (bankruptcy), and defines the property basis of entrepreneurial activity, including material resources, financial assets, securities, and intellectual property. It also provides detailed provisions on business transactions and contracts, emphasizing contractual freedom while allowing limitations for competition, consumer protection, and public interest. Additionally, it introduces mechanisms for state involvement, such as registration systems, licensing, and other regulatory tools governing market entry, supervision, and compliance. Finally, the Model Law establishes the framework for public regulation of entrepreneurship, including state control mechanisms such as taxation, accounting, technical standards, competition law, tariff regulation, and external trade and currency control. It also addresses privatization and nationalization, support for small and medium-sized enterprises, and the promotion of fair competition. A significant portion of the Law is dedicated to the protection of entrepreneurs’ rights, providing both judicial and non-judicial remedies, including mediation, arbitration, administrative procedures, and court proceedings. Overall, the document aims to balance the freedom of enterprise with effective state regulation, ensuring legal certainty, economic development, and protection of both private and public interests.
2015-11-27