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What to do when unfair competition causes financial loss

Most Louisiana business owners understand that in order to succeed they must compete with others who offer similar products or services in the marketplace. However, when unfair competition causes financial loss to a company, those suffering adverse effects may wonder what they can do to rectify such situations. Several options may exist for business owners facing tortious interference.

When a businessperson suspects another party of intentionally interfering in a contractual agreement or sale in order to cause economic loss to the business owner, there may be grounds for filing a lawsuit against that party. The court would determine whether the defendant acted with specific intentions to impede the plaintiff’s business success. The most common forms of this type of interference include coercing a third party to breach a contract by offering the same product or service below current market prices or doing something that makes it impossible for a signed party to fulfill obligations and responsibilities contained within an agreement.

Blackmail, inducement or other unethical practices are illegal and considered economic torts when the court rules that such acts were intentional. In addition to the business owner, anyone else listed as a signature party in a contract who suffers loss because of tortious interference is able to pursue justice against any potentially liable source. Typically, grounds for filing claims in such situations would include existence of a valid contract, evidence of specific intent to cause economic harm and damages that have been caused through malicious interference.

If a Louisiana business owner believes unfair competition has resulted in economic loss, a first logical step to seek justice would be to contact a business and commercial law attorney for guidance. This would allow a concerned party to seek clarification of the laws that govern such matters. An experienced attorney’s counsel may also increase one’s chances of obtaining a favorable outcome in court.

Source: FindLaw, “Tortious Interference“, Accessed on Aug. 10, 2016