Licensing and regulation

Licensing and regulation are systems that governments use to ensure services and products meet safety, quality, and fairness standards. Licensing involves granting official permission (a license) to individuals or businesses to operate in certain fields, ensuring they have the necessary skills and credentials. Regulation sets the rules and standards these entities must follow, monitoring compliance to protect consumers, the environment, and public well-being. Together, they promote trustworthy practices, prevent fraud, and help maintain industry integrity.