Problems and Methods of Legalizing Sharing Economy

Sharing economy causes changes for consumers, the environment, and the economy as a whole. On the one hand, all available resources are used more efficiently (goods are shared); on the other hand, cheap services are provided by non-professionalists, often omitting fees and taxes imposed on traditional ventures. The institutional conditions associated with the project’s proper functioning are equally important. In some industries, sharing economy seems destructive to the existing markets or dangerous for consumers. Steps have been taken to legalize actions such as the imposition of certain obligations, such as the need to register a business activity or in the form of recommendations or require contact with tax advisors concerning taxes in force in the country. Finally, undertakings (projects) operating in the area of sharing economy must adapt their model to the existing law or local common rules. The aim of the article is to analyze the ways of adapting projects from the area of sharing economy to the institutional rules of the traditional economy.