It is difficult to be successful as a first mover unless your innovation has strong patent protection.

Question

Quizplus · Accepted Answer

Being a first mover means that you are introducing a new product or service to the market before your competitors. However, if your innovation does not have strong patent protection, there is a high risk of competitors copying your idea and offering the same product or service. This can result in losing your market share and revenue. Therefore, it is difficult to be successful as a first mover unless your innovation has strong patent protection.

It Is Difficult to Be Successful as a First Mover