The terms “competitive advantage” and “success” are closely related. Every company strives for a competitive advantage, even if they are not exactly sure what it is. All companies want to be the first to market, or to make a product faster, cheaper, or better than their competitors. If they can do that, they gain a “competitive advantage.”
The Dream Scenario . . .Your small business bid to provide software or technical data was just picked up by a prime contractor (“Big Prime”) on a government contract. You are confident that your intellectual property (“IP”) will lead to wealth and the growth of your company. So you proceed to put pen to paper on a lucrative contract with the government.