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Definition

Can the idea be bottled and sold under your ownership? Or is it an idea that defies such exclusive possession, something that cannot be parsed out from your shelves at a price over which you have control? If you go to the effort of changing a law in Washington,[1] can you end up with the lion’s share of the winnings from the change without violating the Constitution? Can you attach enough value to the idea that people who wish to own or use the product or service think first and foremost of you? Can you possess the product or service to the exclusion of all others? Can you control its release in doses required by the paying customers? Can you determine whether there are any barriers to entry to your newly established market?

[1] The same goes for all legislative bodies—federal, state, county, and city.


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