Competitors provide a constant challenge for most businesses. Healthy competition is an essential part of a modern free enterprise system. However, competition can also lead to unfair business practices and be prejudicial to the interests of consumers and society as a whole.
To avoid these problems, a number of business laws are designed to promote healthy competition and prevent the misuse of market dominance. The Commerce Act is the most important piece of legislation governing competition in New Zealand.
Everyone who is in business needs to be aware of the Commerce Act’s requirements. You also have a commercial interest in ensuring that your competitors comply with the Act.