Principles of Fair Competition
To an important extent, the principles of fair competition in the business world are defined by law, and therefore unfair competition may well be unlawful or criminal. But because the forms of competition can change continually and new forms of competition may arise, competition may be unfair, but not illegal, at least not until a legal rule is explicitly made to prohibit it. The exact meaning of unfair advantage or harm caused in business competition may be vague or in dispute, in particular if different competitors promote different interpretations which suit their own interests. It may be difficult to define what it would mean to compete on equal terms, and the operative terms of competition that exist in reality may be challenged only when a participant is seriously disadvantaged by them. Often "equal terms" is defined as an "equal opportunity" or "equal chance" to compete.
Read more about this topic: Unfair Competition
Famous quotes containing the words principles of, principles, fair and/or competition:
“The principles of the good society call for a concern with an order of being—which cannot be proved existentially to the sense organs—where it matters supremely that the human person is inviolable, that reason shall regulate the will, that truth shall prevail over error.”
—Walter Lippmann (1889–1974)
“My country is bleeding, my people are perishing around me. But I feel as a South Carolinian, I am bound to tell the North, go on! go on! Never falter, never abandon the principles which you have adopted.”
—Angelina Grimké (1805–1879)
“This fair homestead has fallen to us, and how little have we done to improve it, how little have we cleared and hedged and ditched! We are too inclined to go hence to a “better land,” without lifting a finger, as our farmers are moving to the Ohio soil; but would it not be more heroic and faithful to till and redeem this New England soil of the world?”
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“Such joint ownership creates a place where mothers can “father” and fathers can “mother.” It does not encourage mothers and fathers to compete with one another for “first- place parent.” Such competition is not especially good for marriage and furthermore drives kids nuts.”
—Kyle D. Pruett (20th century)