Competition is part of doing business. There are ways to distinguish oneself from the competition, but there are situations that overstep the bounds of normal competition. When unfair practices and other illegal means begin to affect your business, your profits and your bottom line, you do not have to put up with it.
There are both state and federal laws that prohibit unfair competition. You have the right to protect your Hawaii business from these illegal practices, but you would be wise to take quick action to shield your company from further financial repercussions. It could be beneficial to know more about what qualifies as unfair competition and how you can fight it.
What counts as unfair competition?
There are several actions and behaviors that may fall under the umbrella term of unfair competition practices. Your business may be a target for some of these if you are experiencing the following:
- There has been a blatant infringement on your company trademarks.
- There has been a misappropriation of your trade secrets either through theft, coercion, deceptive means or through a former employee who now works for your competitor.
- Your business has suffered through actions taken or false statements made by the competition.
There is a fine line between legal and illegal competitive practices. In fact, you may be unsure if what you are currently dealing with constitutes as unfair practices and if you have grounds to move forward with a civil claim. It is always beneficial to move forward only after seeking full understanding of your rights and legal options.
Recompense for the harm you suffered
Advantages made by unfair practices and illegal means can destroy both large companies and small businesses. When subjected to this type of behavior, you may be able to build a case that proves your competition acted outside the bounds of the law, thereby giving you a rightful claim to financial compensation. The damages to which you may have a rightful claim depend on your financial losses, the nature of the illegal activity and various other factors.
No matter the size of your business, you need experienced legal guidance when dealing with complex issues of this magnitude. There is much on the line, and you know you have to fight to save what you worked hard to build. You do not have to sit quietly while unfair advantages undercut your profit margins, but you can take quick action to make it stop and hold responsible parties accountable.