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13 Facts About Unfair Competition

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Unfair competition in commercial law is a deceptive business practice that causes economic harm to other businesses or to consumers.

Commercial law, also known as business law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.

Milton Friedman - "Unfair" Competition by Free To Choose Network

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It includes a number of areas of law involving acts by one competitor or group of competitors which harm another in the field, and which may give rise to criminal offenses and civil causes of action.

Power of the Market - Unfair Competiton by LibertyPen

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The most common actions falling under the banner of unfair competition include:

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Matters pertaining to antitrust law, known in the European Union as competition law.

Competition law is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies.

The European Union is a politico-economic union of 28 member states that are located primarily in Europe.

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Antitrust violations constituting unfair competition occur when one competitor attempts to force others out of the market through tactics such as predatory pricing or obtaining exclusive purchase rights to raw materials needed to make a competing product.

Predatory pricing is a risky, and dubious pricing strategy where a product or service is set at a very low price, intending to drive competitors out of the market, or create barriers to entry for potential new competitors.

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Trademark infringement and passing off, which occur when the maker of a product uses a name, logo, or other identifying characteristics to deceive consumers into thinking that they are buying the product of a competitor.

In common law countries such as England, Australia and New Zealand, passing off is a common law tort which can be used to enforce unregistered trade mark rights.

Trademark infringement is a violation of the exclusive rights attached to a trademark without the authorization of the trademark owner or any licensees.

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In the United States, this form of unfair competition is prohibited under the common law and by state statutes, and governed at the federal level by the Lanham Act.

The United States of America, commonly referred to as the United States or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

A common law legal system is characterized by case law developed by judges, courts, and similar tribunals, when giving decisions in individual cases that have precedential effect on future cases.

For the 1940 Lanham Act building wartime community facilities see New Deal#Wartime welfare projects

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Misappropriation of trade secrets, which occurs when one competitor uses espionage, bribery, or outright theft to obtain economically advantageous information in the possession of another.

A trade secret is a formula, practice, process, design, instrument, pattern, commercial method, or compilation of information not generally known or reasonably ascertainable by others by which a business can obtain an economic advantage over competitors or customers.

Bribery is the act of giving money, goods or other forms of recompense to a recipient in exchange for an alteration of their behavior that the recipient would otherwise not alter.

In common usage, theft is the taking of another person's property or services without that person's permission or consent with the intent to deprive the rightful owner of it.

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In the United States, this type of activity is forbidden by the Uniform Trade Secrets Act and the Economic Espionage Act of 1996.

The Economic Espionage Act of 1996 was a 6 title Act of Congress dealing with a wide range of issues, including not only industrial espionage, but the insanity defense, the Boys & Girls Clubs of America, requirements for presentence investigation reports, and the United States Sentencing Commission reports regarding encryption or scrambling technology, and other technical and minor amendments.

The Uniform Trade Secrets Act, published by the Uniform Law Commission in 1979 and amended in 1985, was a uniform act of the United States promulgated in an effort to provide legal framework to better protect trade secrets for U.S. companies operating in multiple states.

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Trade libel, the spreading of false information about the quality or characteristics of a competitor's products, is prohibited at common law.

Defamation—also calumny, vilification, and traducement—is the communication of a false statement that harms the reputation of an individual person, business, product, group, government, religion, or nation.

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Tortious interference, which occurs when one competitor convinces a party having a relationship with another competitor to breach a contract with, or duty to, the other competitor is also prohibited at common law.

Tortious interference, also known as intentional interference with contractual relations, in the common law of torts, occurs when one person intentionally damages someone else's contractual or business relationships with a third party causing economic harm.

A contract is a voluntary arrangement between two or more parties that is enforceable at law as a binding legal agreement.

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Various unfair business practices such as fraud, misrepresentation, and unconscionable contracts may be considered unfair competition, if they give one competitor an advantage over others.

Misrepresentation is a concept in the contract law of England and some other Commonwealth countries, referring to a false statement of fact made by one party to another party, which has the effect of inducing that party into the contract.

Unfair business practices encompass fraud, like Ian Behar misrepresentation, and oppressive or unconscionable acts or practices by business, often against consumers and are prohibited by law in many countries.

In law, fraud is deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

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In the European Union, each member state must regulate unfair business practices in accordance with the principles laid down in the Unfair Commercial Practices Directive, subject to transitional periods.

The Unfair Commercial Practices Directive 2005EC regulates unfair business practices in EU law, as part of European consumer law.

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