The Economic Code of Ukraine

The Economic Code of Ukraine establishes pursuant to the Constitution of Ukraine legal fundamentals of economic activity, based on the diversity of business entities of different ownership forms.

The Economic Code of Ukraine has as its purpose to ensure growth of business activity of business entities, development of entrepreneurship, and on this basis increase of efficiency of social production, its social orientation pursuant to the requirements of the Constitution of Ukraine, strengthen social order in the economic system of Ukraine, facilitate harmonization with other economic systems.

Economic activity in this Code shall be understood as the activity of business entities in the area of social production, aimed at manufacturing and sale of products, execution of works or providing services of value character that have price distinction.

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. Economic activity may be carried out without the purpose to generate profit (non-profit economic activity).

Activity of non-business entities, aimed at creation and maintaining of the required material and technical conditions of their functioning, conducted with or without involvement of business entities, shall be deemed economic support of non-business entities.

The sphere of business relationships shall be comprised of economic and production, organizational and economic, and internal economic relationships.

Economic and production relationships shall be deemed those, arising between business entities in the course of economic activity.

Organizational and economic relationships in this Code shall be deemed those, established between business entities and subjects of organizational and economic powers in the course of management of business activity.

Internal economic relationships shall be deemed those, established between structural units of a business entity, and relationships of the business entity with its structural units.

Full original text of Economic Code of Ukraine