Law No. 863-XP On entrepreneurial activity.

This Law establishes the general legal foundations of entrepreneurial activity, defining entrepreneurship as an independent, initiative-based and risk-bearing economic activity carried out for profit by individuals or legal entities. The Law affirms the principle of equality of all forms of ownership and guarantees freedom of economic choice, while regulating entrepreneurial activity through national legislation and applicable international agreements when foreign parties are involved.
The Law details the rights, obligations, and liabilities of entrepreneurs. Entrepreneurs are granted extensive rights, including the freedom to establish enterprises, acquire and manage property, hire employees, set prices and wages, conduct banking operations, and participate in foreign economic relations. At the same time, they are obliged to comply with labor, tax, environmental, safety, and consumer protection requirements, obtain necessary licenses, and provide statistical and tax information. Liability regimes differ depending on whether the activity is conducted through a legal entity or as an individual entrepreneur, with personal liability applying in the absence of a legal entity.
The Law also regulates state–entrepreneur relations, emphasizing state guarantees for the protection of property rights, non interference by public authorities, and compensation for unlawful damages caused by officials. It sets grounds and procedures for the suspension or termination of entrepreneurial activities, including court ordered closure for legal violations or bankruptcy. In addition, it outlines state mechanisms for supporting entrepreneurship and recognizes the role of the Union of Industrialists and Entrepreneurs in coordinating and promoting private business, thereby integrating public and societal regulation of entrepreneurial activity.