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Practices contrary to honest use in the performance of economic activities are considered unfair competition.
Unfair competition issues are being corrected and duly sanctioned today following issuance of the Organic Law for Regulation and Control of Market Power in the year 2011, and the creation of the Superintendence for Control of Market Power. The Organic Code of Production, Commerce and Investment recognizes freedom to produce and sell licit goods and services, as long as they are socially desirable and environmentally sustainable. Prices can also be freely established, with the exception of those goods and services whose production and sale are regulated by the Law. The law also establishes access to administrative procedures and control actions established by the State to avoid any speculative practice or private monopoly or oligopoly, or abuse of position or domination in the market, and other unfair competition practices.
Romero Arteta Ponce Abogados is authorized to practice law in Ecuador and give legal advice through related firms in Latin America.