np2003 - 4:42 am on Oct 9, 2010 (gmt 0)
I would be pretty mad if a bloke sold me his software and then next week, made something EXACTLY like that, but better. Seems anti-competitive.
E.g.: Using the funds from the sale to re-create a better product, as you already have the source code from the first product and existing knowledge, creating it the second time around won't be so hard.
I am surprised noone at IB forced them to sign a non-competition agreement for at least, e.g. 5-10years? This is the norm when selling things?