Definition - What does Economic Torts mean?
Economic torts are basically interference by a third party on a company that sells something. The main economic torts are conspiracy, breach of contract, passing-off and libel. Negligent misrepresentation is also included.
Action against such torts creates the stability for companies to go on with their business without being interfered with by someone wishing to cause harm or irrevocable damage to the company.
Justipedia explains Economic Torts
If a person or company is found guilty of tortious interference, then it will have to be proven that the party acted negatively for the purpose of causing harm to the good name of the product or related company, or causing financial damages.
This law applies to all people including the board of managers of the company itself, which follows on from the requirement that the board of managers always works in the best interests of a company.