competitive advantage. The potential benefit from information, ideas, or devices that, if kept secret by a business, might be economically exploited to improve the business’s market share or to increase its income.
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competitive injury. A wrongful economic loss at the hands of a commercial rival, such as the loss of sales due to unfair competition; a disadvantage in a plaintiff’s ability to compete with a defendant, caused by the defendant’s unfair competition. • Most courts require the plaintiff to show a competitive injury as an element of
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novelty. 1. Trade secrets. The newness of information that is generally unused or unknown and that gives its owner a competitive advantage in a business field. • In the law of trade secrets, novelty does not require independent conception or even originality. A rediscovered technique with marketable applications can qualify as a novelty and be
monopoly leveraging. A theory of liability holding that a party violates the antitrust laws when it exploits its monopoly power in one market to gain a competitive advantage in another market.
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seniority. 1. The preferential status, privileges, or rights given an employee based on the employee’s length of service with an employer. • Employees with seniority may receive additional or enhanced benefit packages and obtain competitive advantages over fellow employees in layoff and promotional decisions. 2. The status of being older or senior.
strategic alliance. A coalition formed by two or more persons in the same or complementary businesses to gain long-term financial, operational, or marketing advantages without jeopardizing competitive independence (through their strategic alliance, the manufacturer and distributor of a co-developed product shared development costs). Cf. ALLIANCE(1); JOINT VENTURE; PARTNERSHIP.
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patent-misuse doctrine. An equitable rule that a patentee should not be allowed to use a patent to effectively broaden the scope of the patentee’s monopoly in restraint of trade or otherwise against the public interest. • Two common examples of anticompetitive broadening are (1) using a patent to restrain competition from an unpatented product or
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