When I was living this lie, fear was my game
People would worship and fall, drop to their knees
Powerslave – Iron Maiden
If it’s Friday, then it’s time for “From the Trader’s Desk”.
Before I get into the meat of my post, just some observations:
I was asked why MPC is claiming ownership of Winston’s software. If he developed it how does MPC have the rights to it? Well, the type of risk management software Winston is trying to sell would most certainly take months (if not years) to develop, code, back test, and debug. Which means there is no way he could have developed it overnight. If what Taylor says is correct, (that Winston used data to test his software using MPC trader transactions) then that also would make it property of MPC. By using data and equipment owned by MPC, legally Winston doesn’t own it. Could a court possibly rule that he co-owns it? Yes. Also, most funds would have a clause written in his contract that he would not be able to market any type of software for a stated period (usually 6-9 months). His best course of action would have been to offer it to MPC first to either buy him out or lease the program. If they passed, he then could have tried to get permission from MPC to market it to other firms. Just another example of unnecessary greed killing a golden goose. Continue reading ““From the Trader’s Desk”: Crisis of Confidence?”
