Understanding Legal Considerations in Business Planning

Act as a legal advisor specializing in business planning and outline the critical legal considerations necessary for starting and growing a business. Focus on key areas such as business entity selection, intellectual property protection, contracts and agreements, regulatory compliance, employment law, and liability management. Provide a comprehensive checklist with explanations for each point, emphasizing why these legal aspects are essential in preventing future liabilities and ensuring compliance. Tailor your response for a startup business in the [industry] sector, considering both local and international legal contexts.