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The Legal Framework For Private Sector Activity In The Czech Republic, Cheryl W. Gray
The Legal Framework For Private Sector Activity In The Czech Republic, Cheryl W. Gray
Vanderbilt Journal of Transnational Law
In this Article, Dr. Gray discusses the evolving legal framework in the Czech Republic as the government there moves from a socialist to a private market economy. The author traces the major legal developments, including the Republic's establishment of significant private property rights and of a modern commercial code. The author finds that the Republic has made significant strides in developing a private market economy and in facilitating foreign investment. Dr. Gray concludes, however, that the new laws face significant challenges, including a weak and immature judicial system and problems with addressing business failures.