Janine and Tessa start a new business aimed at offering future and current college students various resources to learn about student loans, debt repayment, financial literacy, and financial aid. On the advice of counsel, they form and operate their company, called Scholastic Finance, Inc., as a corporation. Both Janine and Tessa are stockholders in the company and work full time for the company.

In the long term, they believe the most valuable asset of the business will be the company's proprietary and confidential software code that is designed to determine both creditworthiness and financial literacy of would$-$be student borrowers. Janine and Tessa believe they will be able to sell data about their users to banks and other lenders in exchange for a referral fee.

Janine believes the best strategy for the company to gain traction is to target students on social media apps. Tessa believes the better strategy is to target parents through Facebook ads and traditional direct $($paper$)$ mailers.

After two years of software development and mild traction with gainingysers, Tessa is frustrated with Janine's studentfirst marketing approach. To resolve a stalemate, Tessa agrees to resign from the company in all capacities, and Janine agrees to buy out Tessa's ownership for $$100,000.$

In the purchase agreement memorializing Tessa's resignation and Janine's agreement to buy out Tessa's ownership interest, the parties do not agree to any restrictions on the types of conduct in which either party may engage going forward. No other written agreements exist between Tessa and Janine or Tessa and Scholastic Finance.?

Which of the following statements is true? Select all the apply.

Tessa is free to start a business that engages in exactly the same business activities as Scholastic Finance.

Tessa may not publicly disclos$$ the fact that she and Janine had a difference in opinion on the best marketing strategy for Scholastic Finance, even if she properly refrains from disclosing confidential information.

Tessa may start a new company and hire employees who previously worked with her at Scholastic Finance.

Tessa may not use the software code developed by Scholastic Finance unless she has the express permission of Scholastic Finance.