Economic Moat Classifier

Evaluate the moat for {COMPANY} using these five sources:

□ Switching Costs
  Would customers lose significant money, time, or productivity switching to a rival?
  Examples: ERP software, banking platforms, infrastructure integrations.

□ Network Effects
  Does each new user increase the product's value for all existing users?
  Examples: payment networks, social platforms, data-driven marketplaces.

□ Cost Advantages
  Does scale, proprietary process, location, or unique resource access give durable cost leadership?
  Examples: natural resource proximity, patented manufacturing, distribution density.

□ Intangible Assets
  Do patents, regulatory licenses, or brand allow sustained pricing power above competition?
  Examples: pharma patents, regulated utilities, luxury brand pricing.

□ Efficient Scale
  Is the market naturally sized for only a few profitable participants?
  Examples: regional utilities, niche industrial suppliers, port operators.

Scoring:
  0 checks → No moat (commodity business; avoid unless deeply discounted)
  1–2 checks → Narrow moat (some pricing power; monitor for erosion)
  3+ checks → Wide moat (durable competitive advantage; deserves premium valuation)

Output: moat rating + the single strongest moat source in 2 sentences.