My company's product was blatantly ripped off from concept to design to some actual text copy. We aren't too worried though (consult your lawyer if you want legal advice). They have signed some big clients but they're clearly offering an inferior product.

Competitors can help grow your market base (by getting people interested in products like yours) and offer a point of comparison during sales meetings. Oh, you've heard of X? That's excellent, because we offer Y which clearly offers your organization a greater value because...