How is unfair competition defined under federal law?

Under federal law, unfair competition is defined as any disloyal, dishonest, or deceitful conduct by a company which harms another business or person. This includes practices such as false advertising, misleading labels, or similar dishonest behavior. Unfair competition is not only against the law, but it also works to distort competition in the marketplace and stifle competition which could lead to increased market efficiency and lower prices for consumers. The Federal Trade Commission is responsible for enforcing federal laws that seek to protect consumers from unfair practices. The Lanham Act, which protects trademarks, service marks, trade dress, and trade names, is an example of a federal law which seeks to protect businesses from unfair competition. It prohibits false or misleading statements in connection with the sale of goods, services, or intellectual property. North Carolina has its own separate Unfair and Deceptive Trade Practices Act (UDTPA) which prohibits unfair competition and false and deceptive advertising. The UDTPA provides a private right of action for an injured party to bring a civil suit against a company that engages in unfair or deceptive trade practices. It also provides for civil penalties and the payment of court costs and attorneys’ fees.

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How is unfair competition defined under federal law?

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