Economic code of ukraine

Article 2. Parties to economic relations

1. Parties to economic relations shall be economic entities, consumers, government authorities and local governments, vested with economic powers, as well as individuals, public and other organisations being co-founders of economic entities, or exercising with respect to those organisational and economic powers based on ownership relationships.

Article 3. Economic activity and economic relations

1. Under this Code, economic activity shall be understood as the activity of economic entities in the area of social production, aimed at manufacture and sale of products, execution of works or providing services of value nature that have price distinction.

2. Economic activity conducted to achieve economic and social outcome and to generate profit shall be deemed entrepreneurship, and economic entities shall be deemed entrepreneurs. Economic activity may be conducted without the purpose to generate profit (non-profit economic activity).

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

4. The area of economic relations shall consist in economic and production, organisational and economic, and internal economic relations.

5. Economic and production relations shall be deemed property relations and those relations arising between economic entities in the course of economic activity.

6. Under this Code, organisational and economic relations shall be deemed those established between economic entities and entities of organisational and economic powers in the course of economic activity’s management.

7. Internal economic relations shall be deemed those relations established between structural units of an economic entity, and relations of an economic entity with its structural units.