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Unfair Business Practices |
Unfair Competition
Unfair competition includes many
different types of fraudulent, deceptive, and
dishonest trade practices. The law’s
purpose in limiting competition is to protect a
business'
investment in distinguishing itself and its
image, to preserve the good will it has had with
customers, to deter a business from
appropriating the good will of a competitor, to
promote clarity and stability by encouraging
consumers to rely on a merchant's good will and
reputation, and to increase competition.
Unfair Competition can also include either
deliberate or negligent (careless) interference
with existing or prospective contracts or
business. Any interference with current
employees' willingness to work for you may also
violate the law.
Unfair competition also deals with stealing your intellectual property or
trade secrets. Trade secrets can be anything:
finances, methods of production, customer lists,
etc. Anything that gives the someone else an
independent economic advantage over you.
The simple acquisition of a trade secret can
violate the law if you know it was acquired
improperly or if you disclose it without
permission, (covers former employees using it)
or if you acquire it by accident or mistake and
know it.
Trade secrets can be protected for as long as
secrecy is maintained. Therefore the employer
must use “reasonable efforts” to keep it
secret. This is very fact specific and the
courts will look at case-by-case situations.
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If you have a question, call us at 703-764-9080 to speak with
one of our attorneys.
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