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I see some PR (press release) sites where they distribute the same content on many different sites and at end they give the source link is that Good SEO Practice or Bad ? If it is Good Practice then how Google Panda or other algorithms consider it ?

I have a client who is in real estate and one of his competition used the same Name and Domain and added the word Toronto in front. The competition is putting similar content on the website. The competition also hijacked the Google listing since they both work in the same building. Is this going to affect the ranking our website? What negative effect will it put on our website?