IP for a piece of software developed in my spare time

[daddario]

Hello all,

I work full-time for a security software company.

But at nights and on weekends I've been working on this new piece of software. It was written 100% by me and there's not a single line of code that resembles my employer's code. As a matter of fact, the products are completely different.

I'm planning on starting a StartUp based on my software but I'm faced with reluctance from investors, given that the software was written while working full-time for a company that sells software in a similar field of activity (Security).

Given the fact that my Non-Competition Agreement clearly states that "all activities are permitted", do the investors have any reason to be reluctant? Can my piece of software's IP belong to my employer?

Thanks for reading,
daddario

 

[army judge]

Not having read YOUR non-compete agreement, but having read many other non-compete agreements, I understand investor reluctance.

You should understand that position, too.

Non-compete agreements are very restrictive.

Even though you think otherwise, your employer might have a legitimate claim to your software.

IBM has a rock solid non-compete agreement.

IBM'ers that invent things during their IBM tenure, agree to sell those inventions to IBM for $1.00 US!!!

You should speak with a local attorney about this matter.

Be sure you bring your non-compete agreement for him/her to review.

You might also speak with your firm's legal department.

I'm sure they might be able to offer you their legal opinion on your "off duty" efforts.

 

[daddario]

Thank you, army judge.

I will contact a local lawyer.
I will also try to ask my company's legal department.

Warm regards,
daddario