Legal liability for violating economic laws is divided into three types: criminal liability, administrative liability and civil liability, each of which bears different penalties and liability for compensation.
Economic law is one of the important laws that guarantees the order of the market economy and regulates market behavior. When an enterprise or individual violates the provisions of economic laws, it needs to bear corresponding legal liability. According to relevant legal provisions such as the "Criminal Law of the People's Republic of China" and the "Administrative Punishment Law of the People's Republic of China", legal liability for violations of economic laws is divided into three types: criminal liability, administrative liability and civil liability. The first is criminal liability. If an enterprise or individual is suspected of criminal conduct, such as corruption, bribery, misappropriation of public funds, fraud, etc., they will be held criminally responsible. At this time, the liability for punishment includes fixed-term imprisonment, criminal detention, fines, etc. In addition, if a company or individual illegally acquires huge amounts of property, the maximum penalty is the death penalty. Second is administrative responsibility. If an enterprise or individual does not meet the criminal standards but violates economic regulations, it will face administrative penalties. At this time, the penalties include warnings, fines, license revocation, etc. At the same time, administrative penalties may also result in consequences such as the accounting firm’s annual audit report not being issued and the production safety license not being issued. Finally, there is civil liability. If an enterprise or individual's illegal behavior causes losses to others, they will be required to bear civil liability for compensation. At this time, the liability for compensation includes property compensation and spiritual comfort payments. For example, if a company uses someone else's trademark without authorization, it will face civil liability for trademark infringement.
How can companies avoid violating economic laws? Enterprises should strengthen the study and training of economic regulations to ensure that all employees master legal knowledge. In addition, enterprises should establish a complete internal management system, standardize behavioral procedures, and avoid violations of legal provisions. At the same time, enterprises must also actively cooperate with regulatory inspections to eliminate hidden dangers in a timely manner and ensure that their operations are legal and compliant.
Violations of economic law will bear different legal responsibilities. Enterprises should strictly abide by relevant laws and regulations in daily operations and eliminate illegal activities. At the same time, enterprises must also actively cooperate with regulatory authorities to carry out inspections, correct illegal behaviors in a timely manner, and ensure legal and compliant operations.
Legal basis:
Article 274 of the "Criminal Law of the People's Republic of China" falls under any of the following circumstances, the amount of criminal proceeds is huge or other circumstances are particularly serious , shall be sentenced to life imprisonment or death, and shall also be subject to confiscation of property: (1) Illegally possessing public and private property in a huge amount; (2) Corruption or bribery in an especially huge amount.