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:
“In child rearing it would unquestionably be easier if a child were to do something because we say so. The authoritarian method does expedite things, but it does not produce independent functioning. If a child has not mastered the underlying principles of human interactions and merely conforms out of coercion or conditioning, he has no tools to use, no resources to apply in the next situation that confronts him.”
—Elaine Heffner (20th century)
“In her present ignorance, woman’s religion, instead of making her noble and free, by the wrong application of great principles of right and justice, has made her bondage but more certain and lasting, her degradation more hopeless and complete.”
—Elizabeth Cady Stanton (1815–1902)
“She shall get a duke, my dear,
As duck do get a drake;
And she shall have a young prince,
For her own fair sake.”
—Unknown. Green Grass (l. 9–12)
“Knowledge in the form of an informational commodity indispensable to productive power is already, and will continue to be, a major—perhaps the major—stake in the worldwide competition for power. It is conceivable that the nation-states will one day fight for control of information, just as they battled in the past for control over territory, and afterwards for control over access to and exploitation of raw materials and cheap labor.”
—Jean François Lyotard (b. 1924)