Healthy competition is one of the most important concepts in the business world. Sometimes, however, businesses or individuals use unlawful methods to gain an unfair competitive advantage. Such methods can have a devastating financial and emotional effect on a business striving to operate and compete within the defined laws of business competition. It is important to be able to recognize when a competitor has gained an unfair advantage by using such underhanded tactics. A variety of state and federal laws have been enacted over the years to protect against unfair competition.
The business attorneys at Bellotti Law Group, P.C. have decades of experience identifying unfair practices and protecting the rights and interests of all types of businesses. If you believe that your business may be the victim of an unfair competitive scheme, please contact us at our Boston, Cambridge or Quincy office today at 617-225-2100 for a FREE consultation.What Does Unfair Competition Look Like?
Unfair competition is a very broad legal concept usually associated with the type of relationships that businesses rely on for success. If a company's relationship with its customers, employees, retailers, or partners is unfairly weakened by a competitor, the effects can be overwhelming. Some of the most common examples of unfair competition include:
- Infringement of intellectual property rights: The unapproved use of a company's trademark, copyright, or trade name may cause consumers to be confused as to the origin of the product or service. This could lead to a damaged reputation if the new product or service is inferior. The subsequent confusion could also lead to lost profits.
- Misuse of confidential information: An employee often obtains confidential information about the employer during the course of his or her employment. After joining a new company, that employee may not use that confidential information in his or her new job.
- False advertising: A company may not make false statements about its own product or a competing product.
- Violation of noncompete agreement: A noncompete agreement is a contract limiting a party from competing with a business after termination of employment or completion of a business sale.
- Unfair business practice:This broad category could involve any practice that is immoral or unethical, violates public policy, or injures consumers. If a competing business is using any of these tactics, it will ultimately decrease the profits of your business until the unfair practice is stopped.
Contact us today if you have any questions or concerns about how unfair competition may affect your business. Our experienced business attorneys can review your case and determine your best course of action. Don't delay in protecting your business's property or reputation.