In this article, we will be discussing unfair competition.
Today, many companies and enterprises encounter unfair competition
on a daily basis, but only a tiny percentage of them take legal
action to protect their interests.
What is unfair competition? Unfair competition refers to when
another business gains a competitive advantage or attempts to do so
by using deceptive, unfair, wrong, or fraudulent business
practices.
The most common examples of unfair competition practices are:
trademark infringement; product disparagement; stealing a
competitor's trade secrets or confidential information; trade
dress violation which is copying the physical appearance of a
product from a competitor; misrepresentation of the source of a
product; etc. These actions are detrimental to the growth and
development of small and medium- sized enterprises as it results in
loss of market share, reduced profitability, and sometimes even
bankruptcy.
