Small start up businesses are making huge waves these days. Small companies with big ideas; angles that weren’t thought of or genius ideas that take off in popularity and/or usefulness. [Facebook, Instagram etc] Best Buy tried to pull a fast one on a small company from California; Got called out and had to drop some dough !! Jump for the story…
Bad business is bad business; Unless your a giant electronics retailer. Then you can try and do whatever you want and see how it plays out. Best Buy joined forces with a small start up company called TechForward. TechForward’s gig: they allow you to trade in an old electronic,[ex. iPod, Cell Phone, Tablet] and receive credit that can be used to purchase another item. After discussing business plans for future work together, they pulled out of the deal last minute. Shortly after, they announced their own internal version of the same practice. Obviously illegal, TechForward was awarded $22 million in damages and $5 million in punitive damages for exposing another companies trade secrets.
