Search Results for: COMPETITION

unfair competition

unfair competition. 1. Dishonest or fraudulent rivalry in trade and commerce; esp., the practice of endeavoring to pass off one’s own goods or products in the market for those of another by means of imitating or counterfeiting the name, brand, size, shape, or other distinctive characteristic of the article or its packaging. [Cases: Trade Regulation

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perfect competition

A completely efficient market situation characterized by numerous buyers and sellers, a homogeneous product, perfect information for all parties, and complete freedom to move in and out of the market. • Perfect competition rarely if ever exists, but antitrust scholars often use the theory as a standard for measuring market performance.

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competition

competition. The struggle for commercial advantage; the effort or action of two or more commercial interests to obtain the same business from third parties. fair competition. Open, equitable, and just competition between business competitors. horizontal competition. Competition between a seller and its competitors. • The Sherman Act prohibits unrea-sonable restraints on horizontal competition, such as

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