Nearly every business owner has heard of the term “unfair business practices,” but what exactly does it mean? We know that for the most part, companies and corporations operate in a manner that is honest and open; however, there are many businesses (in fact, more than you might think) that do not adhere to such standards. Ultimately, when another company has no scruples and stoops to practices that are deceptive, it can be harmful to the success of your business, and even your future. These harmful or deceptive practices are what are often referred to as unfair business practices.
Some examples of this include any act that would be considered unconscionable, and which could affect either business partners, consumers, or both such as misrepresentation, competition that is considered unfair, even fraud. Perhaps a company has falsely promoted a product, claiming that it offers a certain benefit or contains a “magical” ingredient. One business may engage in misrepresentation to disparage the services or products of another company. Many people can be affected by these deceptive or unfair practices, including someone who pays for services that were rendered, an individual who buys products or goods from a company, even someone who works with a business in an advertising or promotional capacity.
The fact is, a business owner and his or her business can be put in a very precarious situation when another business practices in a way that is unfair; your company’s success could actually be in jeopardy. Considering the competitive nature in many industries today, some participate in unfair business practices in order to get ahead, or literally try to harm a competing company’s reputation or brand. However, a Los Angeles business lawyer can review the situation to determine if legal action should be taken. At the Law Offices of Spotora & Associates, we are dedicated to helping business owners find the best resolution to the situation, and recognize the serious issues that can arise out of unfair business practices.