The corporate world has a somewhat ruthless reputation, and it can be hard to get ahead, especially when starting your own business. You’ve taken this step, and fortunately, it’s paid off until now. Unfortunately, your competitors have taken note of your success, and they are envious.
Your product, branding, staff and services are too good for rivals to beat or even match. Thus, they’ve decided to go down the route of unfair tactics. Outlined below are some of the more common examples of unfair business practices. Do they sound like something that’s happening to you?
Disparaging your company
As stated, rival firms are struggling to compete with you fairly, so they are looking for ways to take you down rather than improve their own business. You’ve noticed that a few regular customers haven’t been in touch for a while, and a staff member eventually manages to find out why. They’ve been told by rival firms that the products you are selling are fake and overpriced. There is no basis for these claims. They have been fabricated for the sole purpose of disparaging your company.
Stealing your intellectual property
Your logo, branding, unique methods and practices all form part of your intellectual property. All of this can be protected by law, and you have taken steps to do this. You have registered trademarks and patents, and you also ask all of your staff and customers to sign non-disclosure agreements.
Unfortunately, some of this information has still fallen into the hands of your rivals. They’ve managed to convince a former staff member to breach their legal contract and hand over your trade secrets.
When to involve an attorney
The above scenarios are just some of the more common examples of unfair business practices. Each of these actions can affect your business’s reputation, and financial well-being and in other ways, cause real harm to your company. If you have been on the receiving end of any of them, make sure you look into your legal options.