Christians have a significant role in society. One of the critical things they do is support one another and see that they are successful both spiritually and financially. Connor, you needed to accept to offer Peter a job opportunity in your business after graduating and more so teaching him how to run the business and create new products. You played the crucial role of Christianity in this case by ensuring that Peter was independent in the future. You also observed the teachings of the book of Philemon 1:1-2, which says that believers should consider other people as friends, co-workers, and co-equals.
Connor, as a firm believer, you should ensure that worldly things do not affect your spiritual journey. Even though Peter decided to open his company and mimicked most of your company's staff, taking him to court is not the solution. It is also against the biblical teachings in the book of 1 Corinthians. The bible teaches that it is not wise to take your fellow believer to court because it is shameful (1 Corinthians 6:4-5 New International Version). It is clear that Peter has wronged you by setting up a similar company like yours, creating stiff competition, but that is not enough to seek court solutions.
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The same book of 1 Corinthians 6: 6-7 NIV also teaches believers that whoever takes the other person to court shows that the individual is defeated. The only wise decision to make is to consider forming a company with Peter that enables you to thrive together as business partners and firm believers who learn from biblical teachings. If establishing a company with Peter is impossible, it is important to consider talking with him and see if he can change his products to avoid competition. The most important thing is to ensure that business does not ruin your relationship as Christians and encourage you to use biblical teachings to make sound decisions.
References
New International Version . (2020). New International Version Online. https://www.biblestudytools.com/niv/