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I have been working on building my own athletic company. To continue earning income I have just gotten a job and in their new hire paperwork they want me to sign an"Employee Proprietary Information and Inventions Agreement" It it it states that I will Assign to the Company any intellectual property rights or inventions created during the course of your employment". What does that mean for what I have created? I currently own copy rights and trademarks for my startup.
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You are right to be concerned. Their Agreement should be limited to inventions related to their business (check, as the language may already be in place). If this company is in the same line of business as your athletic company, you have a conflict and need to choose one business going forward.
Otherwise, they should be able to accept that IP related to your athletic company will not be assigned over as a result of your employment. You don't need specialized legal language to achieve this goal, but it should be made plain and clear as a written modification (again, if the language is not already in place) in the agreement before you sign it.
Now is the time to avoid a foreseeable problem.
Good luck,
Todd
Answered on Jan 13th, 2014 at 2:03 PM