Fair Competition Act

The Fair Competition Act is a law designed to promote fair and honest business practices while preventing monopolies and anti-competitive behavior. It aims to ensure that all companies have a fair chance to compete in the marketplace, which benefits consumers through better prices, quality, and innovation. The Act prohibits practices such as price fixing, deceptive advertising, and exclusive agreements that could harm competition. By enforcing these guidelines, the Act helps create a level playing field for businesses, fostering healthy economic activity and consumer choice.