The entrepreneurial venture I have long wanted to explore is starting a business specializing in manufacturing custom hiking equipment, specifically hiking backpacks. Developing such a business would result in various legal issues that would need to be resolved from both a business and product perspective. In this essay, I will explore the various legal obstacles that will need to be overcome when creating my new business and product. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay When you start a new business, you always wonder what types of government regulations might exist in your particular industry. With our corporate structure, we do not anticipate extensive government regulation beyond normal business formation processes. For example, we plan to look for a local business license in the city of Chicago. This is required by any business wishing to operate within a municipality. Additionally, we will obtain a federal tax identification number. This number is unique to each business and is essentially required to file taxes correctly. Finally, we will establish the company as a limited liability company (SARL) to protect my personal assets from any potential creditors in the future. When opening a retail business centered around a single product, there are a number of legal protections you should look for. to protect your business and products, but the most important thing is brand protection. A trademark is a form of federal legal protection that applies to a company or product name, or logo (Hinrish, Peters, 2014). For the business I am looking to start, I will be looking for a brand for my business name, my product name, as well as the logo that will be developed for my business. This legal protection will allow me to protect my brand and all names associated with it from use by imitators. Since I will be offering a unique product that will be designed by my company, I will also need to apply for a patent for that design. A patent will protect my product against duplication by potential copiers for a period of 17 years (trademark, patent or copyright?). Patent protection for my company would be essential to ensure that the company was not only able to establish our product in a fairly crowded backpack market, but it would also allow us to protect our product for a long period of time to ensure that it prospers in the market. . Due to the fact that there are already many variations of backpacks on the market, our design will need to be very unique for the government to issue a patent for our design. When developing a new product, there is always a concern. on the safety of the product, and with that any liability that might arise from the creation of such a product. Although we are developing a product that would be considered an everyday item, I do not believe that many liabilities will arise from the use of our product. Given that we are developing a backpack that will be specifically intended for hiking and therefore will be used in many potentially extreme environments, it will be important that we are very clear in our marketing as well as our product packaging on the limitations of our product are. For example, when we design the product, we have.