ABSTRACT
In Russia a business activity has the following signs: independence, a risky character, systematic profits as a purpose, and as the general rule, requirement of state registration. The right to business activity is a fundamental and inalienable right of citizens. The freedom to conduct business activity relies on constitutional principles. The hierarchy of Russian legal sources is structured based on their legal effect. In Russia there is “written law,” which implies regulation of social relations only by means of rulemaking. The Constitution of the Russian Federation is a basic act regulating business as it establishes the freedom of business, principles of regulation of economic relations, state authorities' competences, and limits to the economic rights. The major group of sources in the field of business is laws. Officially, jurisprudence is not a source of legal regulation. However, jurisprudence introduces corrections in the “sounding” of regulatory acts and clarifies them. The public authority system in Russia has a two-level structure: the federal level and the level of constituent entities. The principle of separation of powers is fundamental to executing state power in Russia. Bodies of the legislative, executive, and judicial power are independent. All the powers are important for the business sphere, but the key role in terms of enjoying the right to conduct business activity still refers to the system of executive bodies, which should be effective.
