One of the advantages of being a first-mover is the opportunity to free ride on late-mover investments.

Question

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Being a first-mover typically means that a company is the first to enter a market, thus bearing the initial costs and risks of developing new products or services. Late-movers are the ones who might free ride on the first-mover's investments by observing and improving upon the path laid out by the first-mover.

One of the Advantages of Being a First-Mover Is the Opportunity