noun (n)

• a business relation in which two parties compete to gain customers(noun.linkdef)

  Example:
  Business competition can be fiendish at times.
  

  source: wordnet30
• an occasion on which a winner is selected from among two or more contestants(noun.event)

  Synonym:
  contest
  

  source: wordnet30
• the act of competing as for profit or a prize(noun.act)

  Synonym:
  contention, rivalry
  Antonym:
  cooperation
  

  source: wordnet30
• the contestant you hope to defeat(noun.person)

  Example:
  He wanted to know what the competition was doing.
  

  Synonym:
  challenger, competitor, contender, rival
  

  source: wordnet30
• The act of seeking, or endeavoring to gain, what another is endeavoring to gain at the same time; common strife for the same objects; strife for superiority; emulous contest; rivalry, as for approbation, for a prize, or as where two or more persons are engaged in the same business and each seeking patronage; -- followed by for before the object sought, and with before the person or thing competed with.(noun)

  source: webster1913