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Navigating the legal landscape presents significant challenges for foreign-owned companies conducting business in new markets. To mitigate these risks, it is essential to undertake thorough legal due diligence and establish robust compliance systems. This entails understanding local laws and regulations, obtaining necessary licenses and permits, and establishing clear internal policies. Moreover, consulting with experienced legal counsel expert in the region of operation is strongly suggested.
- Businesses should in addition evaluate their contracts to ensure compliance with local law and implement mechanisms for handling legal conflicts.
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