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:
“Language is a process of free creation; its laws and principles are fixed, but the manner in which the principles of generation are used is free and infinitely varied. Even the interpretation and use of words involves a process of free creation.”
—Noam Chomsky (b. 1928)
“Unless democracy is to commit suicide by consenting to its own destruction, it will have to find some formidable answer to those who come to it saying: “I demand from you in the name of your principles the rights which I shall deny to you later in the name of my principles.””
—Walter Lippmann (1889–1974)
“Much attribute he hath, and much the reason
Why we ascribe it to him; yet all his virtues,
Not virtuously of his own part beheld,
Do in our eyes begin to lose their gloss,
Yea, like fair fruit in an unwholesome dish,
Are like to rot untasted.”
—William Shakespeare (1564–1616)
“So long as the system of competition in the production and exchange of the means of life goes on, the degradation of the arts will go on; and if that system is to last for ever, then art is doomed, and will surely die; that is to say, civilization will die.”
—William Morris (1834–1896)