Question
Einstein Financial Analysts, Inc. (EFA), has developed an electronic database that has recorded the number of plastic pails manufactured and sold in the US since
Einstein Financial Analysts, Inc. (EFA), has developed an electronic database that has recorded the number of plastic pails manufactured and sold in the US since plastic was first invented. Using this data a complicated patented software mathematical formula developed by EFA, a user can predict with 100 percent accuracy (historically) how the stock of each of the companies of the Dow Jones Industrial Average will perform on any given day of the year. William Buffet, as astute billionaire investor, wants to increase his wealth, so he enters into an agreement with EFA whereby he is granted teh sole right to use the EFA data (updated daily) and its financial model for the next five years. Buffet pays EFA $100 million for the right to the data and mathematical formula. After using the data and software for one week, Buffet discovers that EFA has also trasferred the right to use the EFA plastic pail database and software to his competitor. Buffet sues EFA. What type of arrangement have EFA and Buffet entered into? Who wins?
I am struggling to find statutes and or case law for this question - any assistance is greatly appreciated.
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