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Common types of unfair competition

On Behalf of | Jul 18, 2019 | Intellectual Property

Small business owners work hard to maintain and grow their New York companies. Whether you sell online, have a brick and mortar location or are mobile, you rely on customers for revenue. If a competitor gains an advantage as a result of deceptive business practices, you may have grounds for a claim. At Codispoti & Associates, P.C., we often help clients secure and protect their intellectual property.

According to FindLaw, unfair competition encompasses business practices that harm consumers or other businesses. State and federal laws protect the creative, intellectual and economic investments businesses use in differentiating themselves and their products. They address the following types of unfair trade practices:

  • False advertising includes making unfair or untrue statements about products or services. Continuing to do so can affect an organization’s long term profits and customer base.
  • Unauthorized substitution is also known as “bait and switch.” It takes place when a company uses trademarked images to gain sales, with no intention of selling the correct item.
  • False representation of the quality, value grade or standard of products or services is illegal. It can include purposefully overstating product capabilities or exaggerating a warranty.
  • Misconduct regarding another’s confidential information. This encompasses trade secrets and exclusive formulations.
  • Trademark infringement occurs when an individual steals intellectual property and uses it for monetary gain. It can happen in a broad range of circumstances, including unauthorized use of a slogan or logo.

You may receive monetary compensation or other relief for damages if a rival uses unfair trade practices. Visit our webpage for more information on this topic.