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Article: Unfair Competition
- Article from:
- West's Encyclopedia of American Law
CopyrightCOPYRIGHT 2005 The Gale Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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UNFAIR COMPETITION
Any fraudulent, deceptive, or dishonest trade practice that is prohibited by statute, regulation, or the
common law.
The law of unfair competition serves five purposes. First, the law seeks to protect the economic, intellectual, and creative investments made by businesses in distinguishing themselves and their products. Second, the law seeks to preserve the good will that businesses have established with consumers. Third, the law seeks to deter businesses from appropriating the good will of their competitors. Fourth, the law seeks to promote clarity and stability by encouraging consumers to rely on a merchant's good will and reputation when evaluating the quality of ...