LogMein ( LOGM) is a Web-based technology company that provides solutions for remote computer access, file sharing and data backup. I consider this company to be a quintessential good product company that has drawn in investors seeking riches. I even use LogMein for a small business that I own 220 miles away from home. But the company's products are not unique, and competition is everywhere. For example, just look at GoToMyPC.com, owned by Citrix Systems ( CTXS), or remotepc.com. I can envision Google ( GOOG) one day giving a similar product away for free. Once again, I cannot fathom paying a premium multiple for a company that does not have a unique or proprietary product. As I mentioned for CommVault, LogMein has an extremely high historical volatility, which is a warning sign to a high valuation stock. For another take on LogMein, check out 9 IT Services Stocks With Upside.