Source code stolen, delivered to competitor
Over the past 9 years, our corporation has developed a web database system which, to date, has completed client transactions in excess of $170 Million.
A client requested bids for such a system. We submitted the winning bid, and agreed to license & install an instance of the software.
Before commencement, we sent non-disclosure & licensing agreements (moderately technical in scope). One member of the client�s board of directors claimed not to understand the technical documents and expressed reservations about signing.
The client requested we simply present an invoice, pay 50% down, and skip signing. We sent a single-line invoice stating �(CORP NAME, SOFTWARE TRADE NAME) Software License Quantity: 1�.
Client loves the system, but has not paid the remaining balance.
We installed system in a source code form that has never before left our company�s possession. This is our most valuable asset & closely guarded trade secret.
Recently, we learned that an employee of the client emailed the entire source code of our system to one of the competitors that had also submitted a bid for this project! Competitor requested code to reverse engineer for another project!
Without a signed agreement, what recourse do we have?