13-5a - Unfair Competition Act

Title 13 > 13-5a

Sections (3)

13-5a-101 - Title.

This chapter is known as the “Unfair Competition Act.”

13-5a-102 - Definitions.

As used in this chapter: 13-5a-102(1) “Control” means:

ownership of more than 5% of the voting shares or ownership interests of an entity; the power to vote more than 5% of the voting shares of an entity; or the ability to influence the management of an entity. 13-5a-102(2) “Depository institution” is as defined in Section 7-1-103. 13-5a-102(3) “Malicious cyber activity” means:

the unlawful use of computing resources to intimidate or coerce others; accessing a computer without authorization or exceeding authorized access; willfully communicating, delivering, or causing the transmission of a program, information, code, or command without authorization or exceeding authorized access; and intentionally or recklessly: intends to defraud or materially cause damage or disruption to any computing resources or to the owner of any computing resources; or intends to materially cause damage or disruption to any computing resources indirectly through another party’s computing resources. 13-5a-102(4) Except as provided in Subsection (4)(b), “unfair competition” means an intentional business act or practice that: is unlawful, unfair, or fraudulent; and leads to a material diminution in value of intellectual property; and is one of the following:

malicious cyber activity; infringement of a patent, trademark, or trade name; a software license violation; or predatory hiring practices. Notwithstanding Subsection (4)(a), “unfair competition” does not include the departure and hiring of an employee by a competitor.

13-5a-103 - Private action for unfair competition.

13-5a-103(1) Except as provided in Subsection (2), a person injured by unfair competition may bring a private cause of action against a person who engages in unfair competition. In an action under this Subsection (1), a person injured by unfair competition may recover: actual damages; costs and attorney fees; and if the court determines that the circumstances are appropriate, punitive damages. 13-5a-103(2) A person may not bring an action described in Subsection (1) against:

a depository institution; or an entity that: controls a depository institution; is controlled by an entity that controls a depository institution; or is controlled by a depository institution.