I've recently been offered a job at a large technology corporation based in the UK. I've yet to sign the contract but I found something in it which concerns me.
Intellectual property, ideas and inventions
Any Ideas or Inventions you have or make or any Materials that you create or develop in the course of your employment with us and/or using our equipment or materials will (subject to the provisions of the Patents Act 1977 and Copyright Designs and Patents Act 1988) automatically, on creation of the same, be the absolute property of the Company. By signing this contract you’re agreeing to take all actions required by the Company to protect the Invention or Idea or Materials and to pass ownership to the Company. You also agree to waive all of your moral rights under the Copyright Designs and Patents Act 1988.
Ideas include (without limit) patents, domain names, trademarks (whether registerable or not), designs, utility models, copyright or any applications made for these and the right to apply for them in any part of the world. Inventions include (without limitation) any discoveries, creations, inventions or improvements and/or additions to an invention (whether patentable or not and whether or not recorded in any medium), confidential information, know how, business names, moral rights and any similar rights in any country. Materials include (without limit) any documents, designs or computer programs on any media.
Does this mean, once I sign the contract, while working under this company all my ideas are owned by the company? I would have thought any ideas or works I create while using their equipment would be theirs but things created on my own time using my own equipment would be mine.
Does this mean my ideas are all owned by the company I will be working for?
If that's the case I'm very concerned. And if it is the case is this considered the norm for contracts with large technology companies?