Houston Unfair Competition Lawyers
Unfair competition commonly hurts individuals and businesses. A competition, by its definition, necessitates fairness. When people practice unfair competition, it not only benefits them, it hurts others. Competition is a healthy part of an economy. It is what makes our economy function. With competition, there is a better product at a better price. But what does it look like when these types of illegal business practices hurt you?
Standards for Fair Competition
For unfair competition to exist, there must be a standard for fair competition. Fair competition is essential to a healthy economy. All businesses are in competition with each other, some more than others. There is also competition that takes place within a company itself, which is evidenced by setting goals to reach higher levels of quality. Unfair competition comes into play when the same rules are not being followed all across the board. Often, those who are benefiting from the unfair competition are doing so to the detriment of other businesses.
Types of Claims for Unfair Competition
Unfair competition may be deemed illegal, but not always.
The terms can be somewhat ambiguous because rules and institutions are always in a state of flux. Unfair competition can be a part of many different types of claims.
Some claims that can involve unfair competition include the following:
Trademark infringement is when an individual or business steals the idea or product that is the trademark, or exclusive property, of another individual. Stealing an idea or product to pass it off as your own is illegal and a violation of trademark.
This occurs when a business or an individual obtains information that is not rightfully theirs for their financial gain.
Libel is constituted by a false statement said publicly about another individual or corporation for their detriment.
This happens when a business relationship or contract is damaged. This is considered illegal and a form of unfair competition.
If you are involved in a business dispute and believe that unfair competition is harming you, you should seek legal help immediately. Unfair competition can be punishable by law, which could make you entitled to a settlement. The Federal Trade Commission bars companies and businesspeople from entering into unfair business and trade practices, so if you believe that this is going on in your situation, you should not just let the issue go. Unfair competition harms individuals and companies alike, which is why it is punishable by law.
Why Hiring an Arnold & Itkin Attorney Can Help
If you or your business is being hurt by unfair competition, then seek help from a litigation attorney at our firm immediately. At Arnold & Itkin, we have a long history of experience with commercial litigation. In fact, many of our attorneys have strong backgrounds in business, so they know how to handle the law in your situation. You can trust us to offer you the highest quality of care and legal aggressiveness that you need.