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Innovate 2X03

Assignment #3 – Market, Competition and IP Assessment

Due Date: Tuesday March 10th, 2026

This is a team assignment and one final document should be submitted per team.

In this assignment the team is tasked with assessing the market, competition and the intellectual property landscape around their business. The deliverables for assignment are as follows:

1) Market Assessment – provide and rationalize estimates of the following for your business:

a. Total Addressable Market (TAM) (3 marks)

b. Serviceable Addressable Market (SAM) (3 marks)

c. Target Market (TM) (2 marks)

d. Serviceable Obtainable Market (SOM) for each of the next 5 years using a bottom up approach (if possible) (4 marks)

e. Your market growth rate (cite source or rationalize your estimate) (2 marks)

Remember to express the market size in $$ if possible.

2) Competitive Analysis - provide a competitive analysis table that shows your product or service vs. at least 3 competitors (or alternatives if you don’t have direct competition) comparing the features your customers care about (you’ve validated what you think they care about in your customer interviews). ( 2 Marks)

For each of three competitors or alternatives, provide a brief paragraph explaining what you know about them (are they a big company vs. a startup? what do they offer and at what price? what are the drawbacks of their product or service? and if possible, what do people think of their product or service?) (9 Marks)

3) An Intellectual Property Assessment that includes answers to the following (15 Marks):

a. What Intellectual property do you plan to develop in your business, what would you protect, and what might it cost to protect it? (5 marks)

b. What kinds of intellectual property are your competitors in question 2 protecting? Give specific examples. (4 marks)

c. If you plan to file a patent, do a quick patent search identifying any patents of concern OR do quick trademark search on a name you plan to use for your product, service or business and report what you find. (4 marks)

d. How else you might exclude others from copying what you are doing? (2 Marks)

The deliverables are to be assembled into a single PDF document. Electronic copies of this document should be submitted to the assignment Dropbox in Avenue to Learn by the end of the day Tuesday March 10th, 2026