If we asked you whether you own your intellectual property, your
answer most likely would be a swift and unqualified
"yes." Not so fast...
Did you invent your idea while at school or working for your
prior employer? Has everyone ever involved with your idea signed an
assignment of inventions agreement? It is not uncommon to hear
founders hesitate if we ask more detailed questions. The wrong
answer to either of these questions can be a big problem for your
company.
Your school or prior employer could have a claim that they own
your IP. If you developed your idea while conducting research for
your school, during business hours, or using resources of your
prior employer, there could be potential claims that your idea
actually belongs to them, whether your idea relates to your school
or employer's work or not. When it comes to university IP
policies and company assignment of inventions agreements, the
language normally favors the university or company...heavily.
