Professional Certification: Professional certification is a voluntary process where individuals obtain recognition for mastering specific knowledge or skills required in their profession. Unlike licensing which may be mandatory for some professions due to legal requirements, certification is often optional.
Barriers to Entry: Barriers to entry are obstacles or restrictions that make it difficult for new businesses or individuals to enter a particular market. Licensing can act as a barrier by requiring specific qualifications, thus limiting competition.
Professional Associations: Professional associations are organizations formed by individuals in the same profession or industry. They often provide resources, networking opportunities, and set ethical standards for their members.