Will your company be profitable in ten years? An enduring competitive advantage can keep your company profitable against the inevitable onslaught of competitors, imitators, and spinoffs. Establishing such a competitive advantage, or a "moat" around your business, is vital to ensuring long-term profitability and stability.

Competitors can come from all directions, so in order to protect your business, your product, and your ideas, you will need to employ a variety of tactics to defend your fortress against would-be attackers.

Developing an idea, testing it with early adopters, and refining it are the first important steps toward enduring success. A customer-centric, innovative solution to a problem is the cornerstone to a successful business. However, after you have tested and proven your hypothesis, you need to grow that...