There's a domain name that's registered by a competitors company. The domain name is exactly the name of the business that is registered and operates in the same area. Currently the competitor just has a placeholder page that's along the lines of saying the page you're looking for doesn't exist, and link-back to themselves.
They're not willing to just transfer the domain name and be compensated for the transfer.
What are some steps that can be taken to potentially recover this domain? The companies are both Canadian if it matters, the domain is currently registered through Tucows.
█ What did you expect was going to happen?
6sync is where I've made my home ): // @tenkay
Did the domain expired and the competitor grabbed it? Or they registered it themselves? In either case, the only chance to get the domain is by buying from them at premium price (if they agree) or you could take the matter in court based on trademark infringement.