6. Legal and Regulatory Compliance

a. Understand Employment Law

  • If you have employees, ensure compliance with labor laws regarding wages, working hours, and workplace safety.

b. Protect Intellectual Property

  • Trademark your brand name, logo, and any other distinctive identifiers. Protecting intellectual property is essential to maintaining a unique market position.

c. Stay Updated on Industry Regulations

  • Regulatory compliance varies by industry and location. Stay informed about legal changes that may impact your business.
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