A "moat" in business refers to a competitive advantage that protects a company from its rivals. This advantage can come from various sources, such as strong brand recognition, proprietary technology, or exclusive access to resources. Companies with effective moats can maintain higher profits and market share over time, making it difficult for competitors to enter their market. Investors often look for companies with strong moats when evaluating potential investments. A well-established moat can indicate that a company is likely to sustain its profitability and growth, similar to how a physical moat protects a castle from invaders. Examples of companies with moats include Coca-Cola and Apple.