Unfair competition refers to any deceptive or unethical business practices that give one company an unfair advantage over its competitors. This can include false advertising, price fixing, stealing trade secrets, or any other actions that undermine fair and open competition in the marketplace. Such practices not only harm other businesses, but also ultimately harm consumers by limiting their choices and potentially driving up prices. Unfair competition is often regulated and punished by government agencies to protect the integrity of the market and promote fair and healthy competition.