LEGAL ASPECTS OF BUSINESS ACTIVITY IN THE CZECH REPUBLIC
There are two designations connected with business activity in Czech commercial legislation — business activity (hospodářská činnost) and živnost. Despite that the definitions of these terms are identical in substantive elements, the živnost is a narrower concept. The types of the živnost function in accordance to the rules indicated in the law. There are some types of business activities listed in the law, which are indicated as activity but not a živnost. For example, medical activity, activities of lawyers, activities of sworn translators, or agricultural activity. Czech legislation also distinguishes two main types of business activity in terms of živnost. Namely, notified business activity (ohlašovací živnost) and licensed activity. If an entity wishes to pursue a živnost business activity in the Czech Republic, there are two requirements: full legal capacity and no criminal records on business.