Competitive Intelligence Law and Legal Definition

Competitive intelligence is the process of gathering information about a business’s competitors for making one's own business more competitive. Competitive intelligence involves market research designed and carried out to find and keep a business’s market share. This is equally important to established businesses. For successful small businesses, competitive intelligence is regular and ongoing. Competitive intelligence can gather information about a competitor’s products and/or services and the prices they are charging for them and also information about their suppliers, customers, company policies. Competitive intelligence sources for small businesses include media such as newspapers, television and the Internet, other business people, staff and customers of competitors.