1. Compliance:

   • Adhering to laws, regulations, and industry standards.

2. Contract:

   • Legally binding agreement between parties.

3. Liability:

   • Legal responsibility for one's actions or debts.

4. Intellectual Property:

   • Creations of the mind, such as inventions, trademarks, and copyrights.

5. Patent:

   • Exclusive right granted for an invention.

6. Copyright:

   • Legal protection for original works of authorship.

7. Trademark:

   • Distinctive symbol or name used to identify products or services.

8. Trade Secret:

   • Confidential business information that gives a company a competitive advantage.

9. Confidentiality Agreement:

   • Contract to protect sensitive information from disclosure.

10. Privacy Policy:

    • Statement explaining how personal data is collected and used.

11. Regulation:

    • Rule or law set by a government or authority.

12. Legal Compliance:

    • Ensuring adherence to relevant laws and regulations.

13. Legal Counsel:

    • Professional legal advice and representation.

14. Litigation:

    • Legal process of resolving disputes through the court system.

15. Arbitration:

    • Alternative dispute resolution method with a neutral third party.

16. Mediation:

    • Process of resolving conflicts with the help of a mediator.

17. License Agreement:

    • Legal contract that grants permission to use intellectual property.

18. Indemnity:

    • Promise to compensate for damages or losses.

19. Jurisdiction:

    • Authority of a court to hear and decide a case.

20. Due Diligence:

    • Thorough examination and research before making a business decision.

21. Risk Management:

    • Identifying and mitigating potential risks to a business.

22. Anti-Competitive Practices:

    • Actions that restrict competition and harm consumers.

23. Consumer Protection:

    • Laws and measures to safeguard consumers' rights.

24. Employment Law:

    • Legal rules governing employer-employee relationships.

25. Health and Safety Regulations:

    • Laws to ensure a safe working environment.

26. Environmental Compliance:

    • Adhering to environmental laws and regulations.

27. Product Liability:

    • Legal responsibility for defective products.

28. Dispute Resolution:

    • Process of resolving conflicts between parties.

29. Infringement:

    • Violation of intellectual property rights.

30. Criminal Law:

    • Legal rules related to crimes and their punishment.

31. Corporate Governance:

    • System of rules and practices to manage a company.

32. Insolvency:

    • Inability to pay debts when they are due.

33. Bankruptcy:

    • Legal process to deal with insolvency.

34. Fraud:

    • Intentional deception to gain an unfair advantage.

35. Ethics and Compliance:

    • Ensuring business practices are ethical and in line with regulations.

36. Whistleblower:

    • Person who reports illegal or unethical activities within an organization.

37. Permit:

    • Legal authorization to conduct certain activities.

38. Due Process:

    • Fair treatment and legal procedures.

39. Public Liability:

    • Legal responsibility for harm to the public or property.

40. Legal Framework:

    • Overall structure of laws and regulations.

Remember to practice using these words in context to enhance your understanding and fluency. Understanding legal considerations is essential for businesses to operate responsibly and avoid legal issues. Best of luck with your IELTS preparation!