It sounds like you may have already thought of this, but I just wanted to say it "out loud": be careful releasing this code. The IP no doubt belongs to somebody (shareholders most likely), and that somebody could get upset that you are giving away an asset that they could potentially sell to recoup their investment in you company. Make sure you get the ok in writing from somebody like the COO before you do it.

It never hurts to be a little paranoid,
Scott