Entrepreneurial activity requires good rules. These include rules that establish and clarify property rights and reduce the cost of resolving disputes, rules that increase the predictability of economic interactions and rules that provide contractual partners with core protections against abuse. The objective of this idea is to create regulations designed to be efficient in their implementation, to be accessible to all who need to use them and to be simple in their implementation. Accordingly, some more regulation might be needed, such as stricter disclosure requirements in related-party transactions. Other rules should look into ways to simplify the way of implementing existing regulation, such as completing business start-up formalities in a one-stop shop.
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