Prospective Advantage
If there is no contract yet and the
Unfair Competition
Article 27 of the Civil Code provides
Section
Article
186.Monopolies
and
combinations in restraint of trade.- The
penalty of prision correccional in its
minimum period or a fine ranging from
200 to 6,000 pesos, or both, shall be
imposed upon:
Section
168.Unfair
Competition,
Rights,
Regulation and Remedies. - 168.1. A person who
has identified in the mind of the public the goods
he manufactures or deals in, his business or
services from those of others, whether or not a
registered mark is employed, has a property right
in the goodwill of the said goods, business or
services so identified, which will be protected in the
same manner as other property rights.
168.2. Any person who shall employ deception or
any other means contrary to good faith by which he
shall pass off the goods manufactured by him or in
which he deals, or his business, or services for
those of the one having established such goodwill,
or who shall commit any acts calculated to produce
said result, shall be guilty of unfair competition,
and shall be subject to an action therefor.
Interference
Unfair
Misappropriation
International News Service vs. Associated Press
The defendant INS was held to have been guilty of unfair competition when it appropriated news taken from bulletins issued by
complainant Associated Press. The parties were competitors in the gathering and distributions of news and its publication for profit
in newspapers in the U.S. The Court explained that news of current events are not copyrightable and may be regarded as common
property. However, competitors are under a duty to conduct its own business so as not unnecessarily or unfairly injure that of the
other.
FRAUD
A false representation of a matter of fact
Anti-fraud provisions of
the Securities Regulations
Sec 26. Fraudulent transactions- (a) it shall be
Code:
unlawful for any person, directly, or indirectly, in
connection with the purchase or sale of any securities26.1 Employ any device, scheme, or
artifice
to defraud;
26.2 Obtain money or property by means of
any untrue statement of a material fact or any
omission to state a material fact necessary in order
to make the statements made, in the
light of the circumstances under which they
were made, not misleading; or
OBJECTIVE
The essential objective of securities
MISTATEMENTS
KINDS:
1.False Registration Statement
2.Prospectus and the like
1. FALSE REGISTRATION
STATEMENT
PLAINTIFF:
DEFENDANTS:
(a) The issuer and every person who signed
the registration statement;
(b) director or partner or any person with
similar functions at the time of the filing of
the registration statement or any part,
supplement or amendment thereof with
respect to which his liability is asserted;
(c) Every person who is named in the
registration statement as being or about to
become a director of, or a person performing
similar functions, or a partner in, the issuer
and whose written consent thereto is filed
with the registration statement;
DEFENSES:
The defendants are free from liability if
DAMAGES:
Suits may be filed before the Regional
Trial Court;
RTC may award damages in the amount
not exceeding TRIPLE the amount of the
transactions plus actual damages.
LIABILITY
2 or more persons: SOLIDARY
However, any person who becomes liable for
PRESCRIPTIVE PERIOD
No action shall be maintained to