Incumbents are individuals currently holding a specific position or office, often in government or business. For example, in politics, an incumbent is a person who is already serving in a role, such as a senator or mayor, and is seeking re-election. Their existing experience can give them an advantage over challengers. In the business world, incumbents refer to established companies that dominate a market. These firms often have significant resources, brand recognition, and customer loyalty, making it challenging for new entrants to compete. Examples of such incumbents include large corporations like Apple or Coca-Cola.