Substantive and procedural protection of the rights of economic entities and their owners

The existence of protected rights for economic entities and their owners is contrary to the idea of a “socialist state,” but is quite compatible with a “law-based state.” The protection of the rights of economic entities moved through a number of stages in the period 1980–1990. As Professor Olimpiad Ioffe has pointed out, the 1965 and the 1967 provisions fell short of protecting enterprise interests both substantively and procedurally. Union, republic, and local and local state and societal bodies and their officials, in the adoption of decisions involving enterprises and in their relations with them bear responsibility for the observance of the provisions of the present law. This provision talks about “responsibility,” but does not make clear the procedural mechanisms for enforcing the responsibility. A full-fledged set of unfair competition laws would deal with monopolization and restraint of trade, false advertising, and intellectual property protection.