The competition forms part of the London furniture retailer's Design Icons Month – a celebration of authentic design icons, taking place throughout March.
The campaign was launched following the recent change in UK law, which now protects designs for 70 years after the death of the author. To mark the occasion, Aram Store has partnered with nine of the world's most prestigious furniture brands.
The competition's top prize is the LC2 lounge chair, designed by Le Corbusier with regular collaborators Pierre Jeanneret and Charlotte Perriand in 1928.
The chair, which features a chromed tubular steel frame and green fabric, is manufactured by Italian brand Cassina. It retails at £3,678.
The Saarinen side table by Modernist architect Eero Saarinen is the second prize. Designed for American furniture brand Knoll in 1957, it has an Arabescato marble top and a white metal base.
A third winner will receive a Lampadina table lamp, which was designed by Italian designer Achille Castiglioni for Flos in 1972. It comes with an orange and grey metal base.
Founded by designer Zeev Aram, Aram Store presents a range of contemporary furniture, lighting and rugs over the four floors of its Covent Garden showroom.
Aram also holds the worldwide head licence for Eileen Gray designs.
The Design Icons Month competition products will be on show at the store, which is located at 110 Drury Lane, throughout March 2017.
The Aram Gallery, an independently curated space on the third floor of the Aram building, is also hosting an exhibition called No Randomness. Here, designer Oscar Lhermitte shows his collection of industrial objects with a hidden rationale.
This exhibition runs from 3 March to 1 April 2017. The private view will take place from 6 until 9pm on 2 March, coinciding with the Design Icons Month reception.