The Federal Trade Commission (FTC) is a federal agency that enforces laws that protect consumers against unfair trade practices. These laws require business to provide consumers with enough information to make informed decisions about services and goods that they purchase. When businesses violate these laws, the FTC has the authority to take enforcement actions against them. Therefore, if you are a business owner, you must ensure that you avoid unfair trade practices. In this article, we discuss how to avoid unfair trade practices in your business.
Don’t Take Advantage of Customers
Some businesses—telemarketers in particular—prey on vulnerable customers, such as the elderly and those who aren’t fluent in English. The FTC is aware of this, and it aggressively pursues businesses that attempt to take advantage of customers. Therefore, even if you aren’t intentionally attempting to mislead customers, you should take steps to ensure that you are always as honest and transparent with them as possible.
Don’t Misrepresent Your Products
When it comes to selling anything, there is a fine line between being persuasive and being dishonest. Therefore, whether you are marketing products or services, you should always be clear and accurate in your descriptions. In addition, you should be aware that the FTC has strict rules regarding the language businesses may use in their marketing efforts.
Don’t Make False Guarantees
Like the FTC’s prohibition of misrepresentation, you must be honest regarding any assurances or guarantees you make about your products or services. For example, if you offer a money-back guarantee, you must be prepared to follow through with this promise. In addition, you must be able to verify claims made in testimonials or endorsements that you use in your marketing efforts.
Don’t Provide Misleading Price Information
Businesses may not use misleading price information to drive sales. In other words, businesses are required to be clear and honest regarding their pricing. And this includes information pertaining to special offers and sales. For example, you can not market a product or service as a limited offer if it will continue forever, and you can’t advertise a going-out-of-business sale if you don’t plan on closing your business.
Don’t Fail to Disclose Pertinent Information
Finally, the failure to disclose important information can be just as deceptive as providing false information to customers. So, before omitting something in a description of your products or services, you should ensure that the omission won’t influence your customers’ purchasing decisions.
Contact a Florida Corporate and Business Law Attorney
If you are a business owner, you must ensure that you comply with all relevant consumer protection laws. At Gueronniere, P.A., we provide legal services to business owners throughout the state of Florida. Founded by experienced and knowledgeable attorney Grace de la Gueronniere, we are to assist you with your corporate and business law needs, whatever they may be. Please contact us to schedule a free consultation with our talented attorney.