There is a saying about business that goes, “competition brings out the best in products and the worst in man.” These words read as humorous, but they ring as true. Competition has been a motivating factor behind many of our greatest product innovations.
An example of product innovation is Henry Ford’s assembly line model. Ford’s assembly line was created to get a leg up on competition by streamlining the mass production of the automobile. This development made it possible for more people to afford cars.
On the flip side, John D. Rockefeller was a brilliant but ruthless businessman. At one point, he attempted to leverage his accrued power in the oil industry to create a monopoly. His goal was to not just beat, but eliminate his competition. In the long run, the general public would not likely have been well served by such a scheme.
If you own a business, you are in constant competition. On the whole, this a good thing because it pushes you to do the best you can in order to serve your customers. If you can provide the best service or product for the best price, you should be allowed the opportunity to win in the marketplace.
Unfortunately, there are those who do not welcome the idea of fair competition. Such individuals or companies will attempt to circumvent the laws governing business practices for personal gain.
Unprincipled competitors may seek advantage by engaging in such activities as unfair or deceptive trade practices or defamation. They may even attempt to interfere with your established business relationships in an illegal manner.
Competition according to the rules can be of great benefit for good companies and their customers. There are laws that promote this very idea. If your business has suffered economic loss due to a competitor’s tortious acts, you may consider consulting with a Florida business litigation attorney. The attorney may be able to help level the playing field and also aid in attempting to recover some of your losses.
Warren Gammill & Associates offers business litigation services, which you can read about on this website.
