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Is a rival company hurting your business?

On Behalf of | Sep 15, 2022 | Business law

You’ve worked hard for many years to establish your company. You, your business partner and staff have put in the hours and reaped the rewards. However, along the way you have encountered some stiff competition, which is only natural in the corporate world.

Sometimes, ruthless competition can turn into unfair competition. A rival firm has been causing you some serious difficulties for you. Outlined below are some of the more common ways that rival firms can act unfairly.

Stealing your intellectual property

Your company relies on the strength of its branding. This is something that you hold dear and have tried to protect. A rival has noticed your success and has started to copy your logos and marketing campaigns.

On top of this, you find out that they have been attempting to poach your trade secrets. You have legal protections in place for your intellectual property, so this should not be happening. Your employees are also under non-disclosure agreements. If this pattern of unfairness continues against your company, it could do serious harm to your bottom line.

Disparaging your good name

On top of your branding, your business also has a stellar reputation. You provide quality products and the best possible customer service. A competitor finds this uncomfortable and wants to throw a spanner in the works. They’ve been making public claims that your goods are faulty and your services are second rate. Competitors are not allowed to simply make up lies that harm your company.

While operating a company can be competitive, there are laws in place to protect businesses from unfair practices. Seeking legal guidance will give you a better idea of how to protect your interests.