u.s. government approval
Definition
U.S. government approval means your business has received official permission from a federal agency to do something specific, like sell a product, operate in a regulated industry, or enter into a contract with the federal government. Different agencies handle different types of approvals, so the FDA approves food and drugs, the FCC approves certain communications equipment, and the SBA certifies businesses for federal contracting programs. Without the required approval, your business may be operating illegally or be unable to sell certain products.
Example
If you want to sell a new dietary supplement, the FDA must review and approve your product before you can legally market it to customers. Skipping this step could result in heavy fines and forced removal of your product from shelves.
Watch Out
Getting one type of government approval does not mean you have all the approvals you need, so always check with an attorney or the relevant agency to confirm you have covered every requirement for your specific business activity.
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This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.