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Lee Peterson has discovered a new product which detects water leaks because of broken pipes and sends out an alarm similar to the smoke alarm. But, Lee has very little personal money to spend in this new product. He at last raised enough money to enter the market and began to experience some success. The product wasn’t patentable since it was too similar to other existing technologies. Major corporations saw his success and have now entered market with competing products. Give your perspective on this situation, and describe the probable destiny of Lee Peterson's company.

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