Employment at-will and IP rights

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medeng

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My jurisdiction is: Connecticut

Since 1999, I have been working for an investment group that owns a few medical device start-ups. The start-ups are run virtually with only 2-3 employees including myself. Though I am responsible for Product Development for multiple companies, my paycheck comes only from one of them. Additionally, I receive vacation, medical insurance and 401(k) benefits.

I have never signed any employment contracts with them. A few years ago, I pushed for one, but the draft that I was offered was not acceptable to me, so I never signed it. The employer didn't care and never re-visited this issue.

Just like with any other start-up, Intellectual Property is one of the most important assets that we generate. To date, I assigned all patent applications for various projects/start-ups to the investment group.

Recently, I was offered an opportunity to co-found a medical device start-up that will have nothing to do with this investment group. There is no overlap in the type of technologies that are being developed by the investment group and the new company. At least initially, the start-up will not have appropriate funds to hire me full time. At best, it could pay a monthly stipend in return for my services. I estimate that it would require a few hours of my time weekly and would not interfere with my duties at the investment group.

So, here are my questions:

1. Do I need to inform the investment group or get their permission to get involved with the new project while I am working for them?
2. If I don't inform them, can they have any claims on the IP that I contribute to the new start-up?
3. If I don't inform them, will they have any grounds for taking me to court?

I would appreciate your answers and comments. Thanks.

Best regards,

O.
 
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