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An advertisement is misleading if: • it deceives, or is likely to deceive the traders it addresses or reaches, and • the deception is likely to affect the economic behaviour of those traders or as a result of the above effect on traders it injures or is likely to injure a competitor in some way. An advertisement will be likely to affect the economic behaviour of traders if, for example, it induces or is likely to induce them to part with money for what is being advertised. A competitor may be injured as a result of traders being deceived by a misleading advertisement, for example, where an advertiser misleads traders into using their services when the trader actually intended to use the service of company X (a competitor), perhaps by confusing the trader into believing they were actually dealing with company X. This is likely to injure company X (the competitor) as company X loses out on business as a result of the misleading advertisement.