Dogs NEED to be with their "pack" (your family) since they are pack animals. I know you'd never just leave him out there for hours on end, but to him, five minutes IS an hour! Remmebr, he's just a baby. Also, most dog bites occur when a dog is just left chained and unsocialized.
Bosco needs walks several times a day. When Gypsy was this age, she got three long walks (15 minutes to start with, lengthed to thirty minutes). Labs and Chows are both high energy breeds, so Bosco is going to need a lot of the stuffinig run out of him or he'll be like an obnoxious little kid who is bored! See if you can't arange paly dates for him. Twenty minutes of romping with another dog is equal to an hour of walking with you and he'll be much happier (tired=happy!).
The very first command Bosco needs to learn is COME. You can start training him by getting a fifteen ft piece of rope and a snap. Make a long leash out of it. Attach it to his collar and let him wander off with it attached and you holdong the opposite end. when he gets close to the end, say, "Bosco, come". Don't vary the command, i.e., "Bosco, come. No, I said COME! COME HERE, DAMNIT!" By then, Bosco has NO idea what you want. Make sure to say the same thing each and every time. When you call him, gently tug at the leash and start reeling him in. When he gets there, give him a goodie and make a big fuss over him. He will quickly get the idea that it's a wonderful thing to come to you--Mom=fun and goodies! Also, don't call him to you when you want to do somethin g"bad" to him--a bath, pills, trip to the vet's, etc. Just go get him for that!
Also, you should get Bosco a crate. Every well mannered show dog goes everywhere in one of these and it's for a good reason. Dogs don't think of this as "doggy jail". They think of it as their special place. Gypsy has two--one for in the house and a smaller one that goes in the car for trips anywhere. I will NOT have her (or any other dog) loose in my car. If you're in an accident, the dog is a projectile through the window. If your dog sees another dog, s/he may jump into your lap to see or challenge the other dog and be the CAUSE of an accident! Gypsy sleeps in her crate with the door open. It's her "room"--a place to have some R & R when the world is frantically going by. Also, this is the perfect place for your puppy when you go out. Leaving a puppy alone in your house is like leaving a 2 YO loose while you run to the store--just as many bad things can happen!
Sorry to ramlbe on, but this is one area that I think is very, very important. When dogs are well mannered, they are an asset to the community. However, one barking, lunging dog gives all the rest a bad name no matter how sweet the other 999 may be!