Answer:
A bad Reputation can be fixed by asking webmasters to delete their pages containing offensive content about you or your company whereas in 95% cases no webmaster delete their web-content.
Secondary step would be to establish a content network having positive and useful information about you or your company and optimize it to out rank available negative web listings on Google first Page.
Third and last option would be to initialize a Legal Proceedings against company or webmaster publishing misleading information about you
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