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Ep 365. Finding Moats: Market Power, Customer Behavior, Substitution, Distribution, and Margin Protection

Focused Compounding

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Are Patents Really Important for a Company?

A big crown ifh patents is the substitution issue. All that really matters is that the product provides whatever benefit it means to people. A lot of times, um, you can work around patents on things. And i think that the issue is more whether's proven in the market place that there is sufficient demand for it. In terms of the long term, you are going to have bigger vanges and terms of the organization.

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