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What should a small business check before running a prize promotion?

A giveaway may help a launch, but I want to avoid unclear or unfair terms.

Reviewed seed boundary: This discussion is practical guidance, not individual advice. ASA: Promotional marketing
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Define eligibility, entry, dates, prize, selection, notification, data use and free-entry requirements where relevant. Check ASA/CAP guidance and obtain legal advice for material risk.

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