Intellectual Property - Software
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Posted by Arman on January 25, 2000 at 04:59:46:
I work for a major bank in the UK. During my time here I have worked on and enhanced an internally written software package.
This package is now very old and simply unmaintainable but there is no budget for a rewrite!
I would like to redesign and rewrite (in a different programming language) this package for myself and perhaps go on to market it.
In my employment handbook it states:
'Any ideas, inventions or other intellectual property which you develop or are involved in developing during your employment which relate to the business of the Xxx Bank Group are the property of the company within the Xxx Bank Group by whom you are employed or to whom you are assigned. If you develop or are involved in developing any intellectual property you must inform your Manager promptly and, if requested assign your rights in the intellectual property in any jurisdiction worldwide to any designated Xxx Bank Group company. You must also assist that company and co-operate with it in every way to perfect and enforce that company’s right to the intellectual property and to execute whatever documentation is required to provide that company with full ownership.'
Would I face any legal problems if
i) I do this in my own time but while employed by the bank?
ii) Leave the company and work on this project?
Any advice is much appriciated.
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