LEGAL BASIS OF COMPENSATION FOR DAMAGE CAUSED BY ENTITIES OF BUSINESS ACTIVITY

Abstract

The article is devoted to the study of the legal foundations of compensation for damage caused by business entities, which is an important aspect for ensuring justice and law and order in the economic sphere. The key legal provisions and principles that regulate the process of compensation for damages caused by enterprises or individual entrepreneurs in the course of their activities are considered. Attention is focused on the role of state regulation and legislative consolidation of mechanisms for compensation of losses, which should ensure the protection of the rights of injured persons and contribute to the maintenance of a fair balance between the interests of entrepreneurs and citizens.

The article also analyzes the main categories of damage that can be caused as a result of entrepreneurial activity, namely, property and moral damage that requires compensation. It is emphasized that for the effective protection of victims, it is important that transparent criteria for assessing damage and the procedure for its compensation are defined at the legislative level. In addition, the concept of "responsibility of the entrepreneur" is considered as the obligation of the business entity to compensate for the losses incurred within the limits established by law.

Also, the article analyzes different approaches to providing compensation for damage in different countries, which allows us to determine the best practices that can be adapted in Ukraine. The importance of the introduction and improvement of insurance mechanisms as additional means of ensuring the payment of compensation is highlighted, which allows for minimizing risks for both parties - both entrepreneurs and injured persons.

Special attention is paid to judicial and administrative methods of resolving disputes regarding compensation for damage, which allows for ensuring an objective and impartial consideration of each case. The specifics of the application of norms of civil, economic and administrative law for consideration of lawsuits related to compensation for damage are considered. The article also noted that the effective work of the judicial system and the existence of clearly defined procedures for consideration of such cases are a guarantee of the protection of citizens’ rights and the proper functioning of the market economy.

Thus, it is noted that the improvement of legislation in the field of compensation for damage by business entities is one of the directions of the development of the legal system, which contributes to increasing the level of responsibility of business entities to society.