business model

How To Avoid Your New Business Model Or Concept Being Copied By Your Potential Competitors?

Q: How to avoid my new business model or concept being copycat by our potential competitors? Particularly our competitors have more resources and they want to copy our model to launch a consumer App product.

Is it a wrong strategy to pitch our idea to other people when it is still at a very early stage?

A: Copycat is a fact of life. The Swiss pharmaceutical industry, for instance, can be traced back as copycats of the German’s and the whole Chinese ‘Shanzai’ industry are essentially copycats.