I have had a business idea and am in the process of creating a business plan with my business partner. However upon reading my contract of employment I'm a bit worried about what it says here.
You understand that inventions and intellectual property rights are valuable to the company. You shall give the company full written details of all inventions and of all works embodying intellectual property rights made wholly or partially by you at any time during your course of employment with the company. You acknowledge that all intellectual property rights subsisting (or which may in future subsist) in all such inventions and works shall automatically, on creation, transfer to the company absolutely. To the extent that they do not transfer automatically under the operation of law, you will hold them on trust for the company. When requested by the company, you agree to promptly execute all documents and do all acts as may, in the opinion of the company, be necessary to give effect to this clause 13.1. You irrevocably wave all moral rights under the copyright, Designs and Patents Act 1988 (and all similar rights in other jurisdictions) which you have or will have in any existing or future works referred to in this clause 13.1.
My idea isn't tied to their business model. Without giving much away my idea is similar to tripadvisor in the effect consumers will visit the site and rate the "product/service" and we will keep the data and use it on our site.
Would my employees have any rights to my business if I set it up?
Source: http://www.ukbusinessforums.co.uk/forums/showthread.php?t=280084
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