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A long time ago, I made a list of every competitive advantage that existed in business. Or so I thought. I realized that my long list is missing a very important significant one and I'm struggling to put it into words. I hope someone on here can help me figure it out.
What's a good way to describe "Impossible or priceless replacement cost." For example, if you are the lucky owner of an oil refinery on the coast of California, you have an enormous competitive advantage created by the likely unwillingness of the state of CA to approve the...
...building of another oil refinery in California, because of environmental regulations. Or perhaps, if they allowed it, it would be astronomically expensive. Whereas, at the time of building, regulations were laxer. What do you call that?
Or another example: what do you call the competitive advantage accrued by a beautiful 1800s era brick building that today, is impossible to replace, not only because of its historical advantage, but because of the cost of using humans to, brick by brick, reconstruct it?
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