Unfair Competition and Consumer Protection
In Panama consumer protection and competence defense rules apply. The regulations are focused to seek the good of the consumer and to eradicate bad practices that affect the markets for goods and services.
There exist several sectors that are involved in unfair competition such as: misleading advertising, lack of consumer guarantees, abusive clauses in house contracts, prices that create a situation of rivalry between two or more companies in the same market that sell or offer the same product or service, among others.
That is why, legal frameworks have been created and the public entity CONSUMER PROTECTION AND COMPETITION DEFENSE AUTHORITY (ACODECO) under the Ministry of Commerce and Industries, which main function is to protect the Rights and Duties of the Consumer.
In BENEDETTI CL Abogados we offer our clients the legal and correct mechanisms so that, when they go out to the competitive market, they can position themselves among the consumers free of conflicts and legally protected.