Santa Monica, CA asked in Intellectual Property for California

Q: How exactly is IP defined in a venture studio program if the only thing presented were concepts is that truly IP?

I was part of a corporate venture studio program run by a local VC fund. I signed an agreement that they would own any IP I came up with in the program. However, I'm not sure I created any? I presented two concepts, but didn't do any development on them. Is that really IP? could I argue that no IP was actually created and be free to go on and create a company of my own without them taking a pound of flesh?

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1 Lawyer Answer

A: Before you get into problems you should consult with an attorney.

You may want to talk to the people at the company and the Fund as well.

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