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If the firm has a patent, and will be the only competitor in the new industry, what would you recommend? Note: just because you have

If the firm has a patent, and will be the only competitor in the new industry, what would you recommend?

Note: just because you have a patent does not mean success is a certainty

If there is no patent, and there are 2 other firms that are plausible entrants, would that change your recommend?

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