Unfair competition laws are designed to protect consumers and businesses from unfair, deceptive business or trade practices. Unfair competition claims include trademark infringement, patent infringement, copyright infringement, misappropriation of trade secrets, and breach of restrictive covenants in employment agreements and contracts for the sale of businesses.

Unfair or deceptive trade practices usually target consumers and include misleading claims about the quality or characteristics of goods or services; bait and switch sales tactics; and the unauthorized substitution of an advertised or represented brand or quality of goods for a lesser brand or quality of goods. Most unfair competition laws are located in state statutes and court opinions (common law). But patent, copyright, and trademark laws that may be the source of unfair competition claims are located in federal statutes.

In New Mexico (NM), unfair competition laws are in place to protect both consumers and businesses from deceptive and unethical practices. These laws encompass a range of issues including trademark infringement, patent infringement, copyright infringement, misappropriation of trade secrets, and breaches of restrictive covenants in employment or business sale contracts. New Mexico's Unfair Practices Act (UPA), found in NMSA 1978, Sections 57-12-1 to 57-12-26, prohibits deceptive trade practices and ensures fair competition. This includes false advertising, bait and switch tactics, and substituting advertised goods with inferior products. While state statutes and common law primarily govern unfair competition, federal laws also play a significant role, particularly in matters of intellectual property such as patents, copyrights, and trademarks. An attorney specializing in business law or intellectual property can provide guidance on both state and federal regulations and how they apply to specific unfair competition claims in New Mexico.