Onur Cobanli explains:
In general, it is your competitors that have the most knowledge and wisdom in your industry. It may be well worth to respect your competitors, follow up on their news and announcements and learn from them. In the end, the whole market system is designed to have the competition as the primary driving force behind innovation. Competitors understand your business the best, sometimes better than you are. I do not say to engage in espionage or spycraft but you should to the extent permitted by law follow all public announcements of your competitors, track their announcements and press releases and learn from them; remember that your competitors know as much as you know.