Moat

A moat is a deep, wide ditch, often filled with water, that surrounds a castle or fort to provide protection against attackers. In a broader context, the term "moat" can also refer to any advantage that a company has that protects it from competitors, making it difficult for others to succeed in the same market. This could be factors like strong brand recognition, patents, or exclusive access to valuable resources. Essentially, a moat serves to safeguard an asset, whether it be a physical structure or a business.