What are best practices for working with pipes and sockets?

#!/usr/bin/perl
use strict;
use warnings;

# Example of creating a simple socket connection

use IO::Socket;

# Create a listening socket
my $socket = IO::Socket::INET->new(
    LocalAddr => '127.0.0.1',
    LocalPort => 5000,
    Proto     => 'tcp',
    Listen    => 5,
    Reuse     => 1
) or die "Could not create socket: $!\n";

print "Server listening on port 5000\n";

while (my $client_socket = $socket->accept()) {
    my $client_address = $client_socket->peerhost();
    print "Connection from $client_address\n";
    
    # Handle client data
    while (my $data = <$client_socket>) {
        print "Received: $data";
        print $client_socket "You said: $data";  # Echo back
    }

    close($client_socket) or warn "Could not close socket: $!\n";
}

close($socket) or warn "Could not close socket: $!\n";