Unfair competition refers to the type of business tort that interferes with a business's reputation or success. Although the term unfair competition actually encompasses many different types of business torts, identifying a case of unfair competition may be difficult without the help of an attorney. If you believe your business has been the victim of unfair competition practices, you may want to speak with an experienced business law lawyer.
Despite what you might believe about unfair competition laws, they are actually designed to protect both businesses and consumers. The deceptive practices of one company can significantly damage the reputation or success of another company. Likewise, a business may deceive consumers in a way that causes harm or puts them in danger. Any business practice that intentionally harms competitors or consumers can be held accountable for unfair competition practices.
Unfair competition that pertains to competitors would be damaging practices such as trademark infringement, misappropriation of trade secrets or trade defamation. It could also be in the form of one business passing off another business's goods as if they were their own. All of these things can significantly damage a competitor's reputation and ability to do business. In contrast, unfair competition practices that harm consumers would be those such as false representation, misleading advertising and unfair pricing strategies.
Unfair competition practices are almost always done intentionally. However, occasionally they may be the result of negligence or ignorance. If you are a business owner or consumer and believe you have been the victim of any type of unfair competition practice, you may benefit by working with a business law attorney. With their help, you may be able to hold the responsible party accountable for their wrongdoing and recover damages for your loss.