LAW OF THE AZERBAIJAN REPUBLIC

of December 15, 1992 No. 405

About business activity

This Law determines the principles of entrepreneurship in the Azerbaijan Republic, establishes the rights and obligations of subjects of business activity, form and methods of its state protection and encouragement, relation of entrepreneurs with the state bodies and structures created by relevant organ of the executive authority (further - structures). The law is directed to creation of conditions for implementation of the principle of equality of all patterns of ownership, broad manifestation of economic initiative and efficiency on the basis of the independent choice of fields of activity and adoption of economic decisions.

Section I. General provisions

Article 1. Business activity

Business activity is the independent activities of person performed which main objective is generation of profit (concerning business owners - the income) from use of property, production and (or) sales of goods, performance of works or rendering services.

Article 2. Legislation on entrepreneurship

1. The relations connected with entrepreneurship irrespective of patterns of ownership, type and field of activity, are regulated by the Constitution of the Azerbaijan Republic, the Constitutional act "About the State Independence of the Azerbaijan Republic", the Constitutional law "About Economic Independence of the Azerbaijan Republic", the Civil code of the Azerbaijan Republic, the Code about the competition of the Azerbaijan Republic, the Law of the Azerbaijan Republic "On regulation performed in the field of entrepreneurships and protection of interests of entrepreneurs" and the Law of the Azerbaijan Republic "About development of micro, small and medium entrepreneurship, this Law and another, the accepted on their basis, legal acts.

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