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It depends on your intent. Supplying the market with competition or a "generic" option for an existing product only has legal implications if there are trade secrets involved. You can open a hamburger stand across from McDonald's, and as long as you don't copy their secret sauce, you're okay.
If you're really imitating a product--say, you open a MacDonald's across the street, using eerily similar product names, indicia, etc.--you'll encounter issues with trademark, trade dress, and similar rights, and that's before you get accused of consumer fraud.
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