First Mover Advantage

The First Mover Advantage are competitive advantages that accrue to the successful innovator.

Ex:
 * Learning-Curve Effects and Intellectual Property
 * Network Effects and Switching Costs

Winner Take All Markets are markets in which the market leader captures almost all of the market share and is able to extract a significant amount of the value created.

Halmarks:
 * Incremental Innovation
 * Defend against new entrants to the market

Class Activity 1