Running a business can be rewarding and challenging. If you are the proprietor of your own company, you likely understand the time, effort and money you must invest to achieve success. Even if you do everything in your power to make a business work, your success is not guaranteed. However, there are laws in place that are intended to help ensure you have a fair shot at competing in the marketplace.
However, your hard work could be severely undermined by unfair competition. There are a variety of deceptive practices that can be employed to create unfair competition. Common deceptive business practices include “bait and switch” tactics, false advertising, the use of trade secrets stolen from another party and trademark impingement.
Typically, state common laws are applied to cases of unfair competition. However, cases involving false advertising, trademarks and copyrights may be handled at the federal level. While there are practices that are generally regarded as creating unfair competition, there can be a variety of factors that determine if a specific act is considered as being truly unfair.
A party that engages in unfair business practices harms both other businesses and consumers alike. Most companies cannot afford to lose customers or potential customers. If left unchallenged, unfair competition could cause a good company to suffer an irrevocable financial loss.
If you believe that your business has been harmed due to another party engaging in unfair or deceptive business practices, you may wish to seek a legal remedy. A Florida business litigation attorney could go over all the facts of your case and may be able to advise you on your best options.