Business Structure: Choosing the right legal structure (e.g., LLC, corporation, partnership) affects taxation, liability, and operational complexity. Contracts and Agreements: Properly drafted agreements with suppliers, customers, and employees are essential for protecting the business. Licenses and Permits: Ensuring all required licenses and permits are obtained to legally operate the business. Employment Law: Understanding labor laws to manage hiring, firing, and employee benefits correctly. Intellectual Property Protection: Securing patents, trademarks, and copyrights to protect unique business ideas and products.