I think I remember reading something where PG addressed this issue. To paraphrase, you don't know if both you and your competitor are aiming for the same goal. Even though your products might look similar and provide similar technology, yours might be better for a certain vertical that isn't being addressed. Having similar or even the same idea isn't bad, just make sure to stay focused on what you're really trying to achieve.

Hell, there's a reason they haven't cornered the market.