Standards, Policies, Regulations, Laws. Most industries, regardless of the product/service offered, are governed by rules. Those rules and regulations are layered with other hierarchies of additional, often overlapping, sometimes contradictory rules. How does a company know the rules their industry falls under? How do you ensure you are compliant with regulations while focusing on your business? Serious questions and ignorance is not an excuse. As a business owner, you are responsible to ensure your company is compliant at every level with all regulations.