As part of his new job as partner in his own real estate firm, Phil has decided to put on a seminar for new homebuyers, but as he is discussing it, he realizes people could just write it all down and then they wouldn’t need his firm anymore. He did not think about how to protect his intellectual property.
See more: barriers to entry, industrial organization, intellectual property, patents, property rights
Claire and Jay are visiting a competitor’s business. The competitor wants to buy Pritchett Closets, but Claire and Jay have a different idea. The new company is focused on creating smart closets that can pick outfits for the person based on the weather and their current size. They have great technology, but they don’t have the manufacturing capabilities to fulfill all their orders. Pritchett Closets, on the other hand, has the manufacturing space, but they haven’t invested much in technology. Claire proposes that they merge instead.
See more: acquisitions, industrial organization, mergers, proprietary technological knowledge, technological change, technological knowledge, technology