Legal form of economic activity

The Law has no material form. The Law exists only in our imagination and our thinking, as well. Legal regulation (laws and court decisions), on the contrary, exist in material form only.

Volodymyr Machuskyy Sr.

Economic activity necessarily has an economic content. Due to legal regulation, any economic activity takes on a legal form. Thus, in some cases, economic activity is economic by content and legal by form.

The legal form of economic activity is a legal relationship. Legal regulation and legal relations are determined by the interrelation. Legal regulation as a special, has its origin in the general – the law, and seeks to achieve a separate – the specification of the rights and obligations of the subjects of law (participants in the relationship).

The legal relationship as special for the subjects of law, having its source separate – the rights and obligations of the subjects of law, seeks to achieve generality – the objectification of the rights and obligations of the subjects of law (participants in the relationship).

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