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Third Substitute S.B. 239

Senator Mike Dmitrich proposes the following substitute bill:


             1     
UNFAIR BUSINESS PRACTICES

             2     
2004 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Sponsor: Mike Dmitrich

             5      Ron AllenCurtis S. Bramble              6     
             7      LONG TITLE
             8      General Description:
             9          This bill enacts provisions within the Utah Criminal Code related to unfair competition.
             10      Highlighted Provisions:
             11          This bill:
             12          .    defines unfair competition; and
             13          .    provides a private right of action for a person injured by unfair competition.
             14      Monies Appropriated in this Bill:
             15          None
             16      Other Special Clauses:
             17          None
             18      Utah Code Sections Affected:
             19      ENACTS:
             20          13-5a-101, Utah Code Annotated 1953
             21          13-5a-102, Utah Code Annotated 1953
             22          13-5a-103, Utah Code Annotated 1953
             23     
             24      Be it enacted by the Legislature of the state of Utah:
             25          Section 1. Section 13-5a-101 is enacted to read:

             26     
CHAPTER 5a. UNFAIR COMPETITION ACT

             27          13-5a-101. Title.
             28          This chapter is known as the "Unfair Competition Act."
             29          Section 2. Section 13-5a-102 is enacted to read:
             30          13-5a-102. Definitions.
             31          As used in this chapter:
             32          (1) "Control" means:
             33          (a) ownership of more than 5% of the voting shares or ownership interests of an entity;
             34          (b) the power to vote more than 5% of the voting shares of an entity; or
             35          (c) the ability to influence the management of an entity.
             36          (2) "Depository institution" is as defined in Section 7-1-103 .
             37          (3) (a) Except as provided in Subsection (3)(b), "unfair competition" means a business
             38      act or practice that:
             39          (i) is unlawful, unfair, or fraudulent; and
             40          (ii) leads to a material diminution in value of intellectual property.
             41          (b) Notwithstanding Subsection (3)(a), "unfair competition" does not include the
             42      departure and hiring of an employee by a competitor.
             43          Section 3. Section 13-5a-103 is enacted to read:
             44          13-5a-103. Private action for unfair competition.
             45          (1) (a) Except as provided in Subsection (2), a person injured by unfair competition
             46      may bring a private cause of action against a person who engages in unfair competition.
             47          (b) In an action under this Subsection (1), a person injured by unfair competition may
             48      recover:
             49          (i) actual damages;
             50          (ii) costs and attorney fees; and
             51          (iii) if the court determines that the circumstances are appropriate, punitive damages.
             52          (2) A person may not bring an action described in Subsection (1) against:
             53          (a) a depository institution; or
             54          (b) an entity that:
             55          (i) controls a depository institution;
             56          (ii) is controlled by an entity that controls a depository institution; or

             57          (iii) is controlled by a depository institution.

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