Existence of a legal bases allows participants to the sports industry clearly outline the scope of its powers, rights and duties. This fixation is eligible, and all actors of economic and sporting relations greatly simplifies analysis of complaints and lawsuits in cases of economic disputes, corrects various interpretations tex or other provisions chaconne.
Furthermore, the legislative acts of the federal and local funding sources define fitness and sports activities, and establish specific priorities in the development of the sports industry.
The main legal instrument defining common objectives and content of physical education and sports activities to Russia, is the Law «Physical Culture and Sports in the Russian Federation.» It gives all the basic tenets of the legal and economic plan, under which the state regulation of economic relations in physical education and sport.
At the same time, the Law «Physical Culture and Sports in the Russian Federation» is not the only legal act regulating the activities of participants in the sports industry.
In their daily activities, the economic and sporting relations should be guided by a range of other laws regulating this or that sphere of economic activity, in particular. «Advertising law», » Consumer Protection law», «Insurance law», «The basis of the tax system law» and many others.