HACCP (Hazard Analysis Critical Control Point) is a systematic preventative approach used in the food industry to identify and control potential food safety hazards. It involves 7 principles: hazard analysis to identify potential hazards, determining critical control points to monitor hazards, establishing critical limits, monitoring critical control points, defining corrective actions, verifying the HACCP plan is working, and maintaining records. HACCP helps food businesses comply with food safety laws and ensure their products do not put consumers at risk.