By prevent fraudulent and dishonest commercial practices in the marketplace, laws against unfair trade practices and against unfair competition serve a variety of purposes, they: (1) protect the investments made by businesses in developing and distinguishing their products, and services, (2) protect the goodwill associated with such businesses, products, and services upon which consumers reasonably rely, and (3) encourage greater competition among businesses and greater product quality and variety in protecting such investments and goodwill.
Examples of unfair trade practices include:
- Tortous interference with the economic relations of another
- Predatory pricing and certain tying arrangements
- Trademark, trade name, copyright, and patent infringement
- Theft or unauthorized use or disclosure of trade secrets
- False or deceptive advertising or defamation
- Misappropriation of a likeness or name