There is no action a company can take to damage their competitors other than succeeding in the market by offering a better or cheaper good or service.

That is in free market capitalism, where the initiation of force by the government or companies against other companies is barred.

For instance, in free market capitalism, telecom companies are not granted local monopolies, so the only way for a telecom company to hurt its competition is to beat its competition on price or service, since anyone is free to build telecom infrastructure. (Obviously, this is not the system we have in the US, where telecom monopolies are rampant, but we should.)