LEGAL ASPECTS OF REGULATION OF ENTREPRENEURIAL ACTIVITY IN THE CONDITIONS OF DIGITALIZATION OF THE ECONOM

Abstract

This article examines the various forms, mechanisms, and types of digitalization adopted by business entities, with a focus on the emergence and implementation of economic legal relations. Digitalization is presented not as a definitive goal but as an ongoing process that integrates innovative digital technologies into enterprise operations while reducing reliance on physical assets. To successfully drive business transformations, enterprises must establish clear development strategies, invest in advanced technologies, and prioritize the professional development of their workforce. Among the current methods of digitalization, electronic document management plays a central role, enabling the replacement of traditional paper documents with digital counterparts. The study specifically explores the contractual and legal frameworks governing business transactions within the dynamic context of digitalization. It provides insights into contemporary challenges and highlights the gaps in legal support for electronic contractual interactions among stakeholders in the economic cycle. The author identifies the absence of a unified approach for updating traditional contract law principles to incorporate the nuances associated with electronic contracts. Significant emphasis is placed on the process of drafting and concluding electronic contracts involving economic entities. This includes a detailed analysis of the concept of an “electronic form of contract” and its legal implications. Drawing from scholarly perspectives and the current legal framework in Ukraine, the research investigates key elements such as electronic offers and acceptances, while addressing procedural considerations for their execution. The article underscores that the process and format of concluding commercial contracts hinge on the sequential actions taken by parties to reach consensus on crucial terms. This process adheres to legally prescribed steps to ensure that the contract attains binding legal status. Legislation governing electronic commercial contracts includes the Commercial Code of Ukraine, the Civil Code of Ukraine, the Law of Ukraine “On Electronic Commerce,” and the Law of Ukraine “On Electronic Documents and Electronic Document Management.” These laws collectively outline the procedural norms and specificities involved in electronic contract formation. An electronic commercial contract possesses distinct characteristics: it holds equivalent legal status to a written agreement, can be authenticated using either electronic digital signatures or specialized software, and serves as admissible evidence during legal proceedings.