Many businesses may constantly be in search of ways to gain an edge in their respective fields and the presence of competition can be a healthy component in the consumer market. However, there may be some types of business practices that may be viewed as unlawful and act to give a company an unfair advantage over competitors. Evaluating some common examples of unfair competition could be vital to helping business owners in Georgia take steps to promote compliance, or help them prepare to seek advice should they encounter such issues.
One of the most common forms of unfair competition may stem from false advertising strategies. This may occur when a company makes claims about products or services that are not accurate in hopes of drawing in customers and increasing profits. Bait-and-switch is a tactic in which a company may attempt to bring customers in by advertising a popular product that is being sold at low cost, only to inform them that the product is sold out once they arrive and then offering them a similar item at a higher price.
Claims of unfair competition could also arise if a company tries to beat out the competition by selling products at costs way below the market value. In some cases, unfair competition may also occur when companies try to gain an edge by intentionally spreading false and harmful rumors about rivals. Issues such as theft of trade secrets and trademark infringement are also common examples of tactics that may provide an unfair advantage.
The presence of unfair competition can take a significant toll on all parties involved and business owners who face such disputes may have questions about the next steps to take to safeguard their endeavors. When similar issues arise, a business owner might find it helpful to consult with legal counsel for insight on his or her legal rights and available options. An attorney can address a client’s situation thoroughly and help prepare to take the necessary steps to protect the future of his or her company.