It can’t be said too often, but Techdirt sums it up yet again: Innovation is an ongoing process, and companies compete by creating a series of fleeting competitive advantages.

When I worked for CSC Research, we used to joke that you could always, during a presentation or in a report, make the point that "X is a process, not an event", and get away with it. Chiefly because, for most values of X, it is true.