Your untouchable advantage

Intangible assets – or things that aren’t physical assets – fall into two broad categories:

• Legal assets
• Competitive assets

Legal assets are things like trademarks, brand names, patents and copyrights… things that are very hard to assign value to.

Competitive assets are more abstract, and can include experience, reputation, knowledge and relationships. They’re even harder to assign a dollar value to, but you can see they’re arguably more valuable than legal assets.

To put this another way: You can buy legal assets, but you must earn competitive ones.

As soloists, we’ll likely lean on legal assets far less than competitive ones, even though the legal ones are more fun to work on and easier to demonstrate.

Competitive assets, especially your unique combination of them, are almost non-replicable… lean all the way into these when creating your products – it’s where your untouchable advantage lies.