Economic activity of legal entities: Elimination of the dualism of legal regulation in the context of convergence with European private law

Abstract

The paper investigates the correlation of private law and business and legal regulation of Economic activity of legal entities as key subjects of market relations in the conditions of codification processes in Ukraine. Within these relations, the civil status of individuals should be outlined as an attribute that enables the individual to participate in relations, as well as to determine the scope of rights and obligations that these individuals may exercise. It is proposed to eliminate dualism in the legal regulation of Economic activity of legal entities through a proper understanding of foundations (principles) of private law, which are used by legally equal participants in the process of shaping relations regarding the organization of a legal entity, its introduction to legal relations in view of state regulation of business (economic) operations. The latter involves the imposition of requirements for public entities to regulate the legal economic order, factoring in, above all, public interests. An example is the special statuses of a legal entity, which are not always correlated with its legal form, and the limits of freedom of contract. All this creates a rather complex system of private-public and public-private relations regarding the organization and operations of legal entities – corporate law.