Innovative businesses make Bangladesh known to the World as a creative nation. She possesses the 8th largest population in the 92nd largest area among the ranking of 195 countries in the World. Initiative with innovation and creativity is important human quality for entrepreneurship and entrepreneurship. Innovative and creative people do new business and also keep ongoing business alive in competitions. Perfect competitions contribute to national development that demands legal and ethical innovation and creativity. Business by definition means remaining busy with legal works where tangible goods and intangible services are produced and exchanged. Cumulative counts of all goods and services of a country in a year make the gross national product (GNP). Adult literacy, GNP per capita, and life expectancy at birth are interdependent indicators of national development in perfect business competitions. These products and processes of businesses must be legal but may not be always ethical. Business of tobacco is legal but marketing a carcinogenic product is definitely not ethical. The study followed the legal and ethical research framework and norms in order to encourage benevolent innovation and creativity in businesses.