I have been offered 5% of a company through a shareholder agreement form (which I have not signed) but am really worried about a clause which essentially states,
Any IP discovered by me relating to the business while in the service of the Company must be disclosed and becomes the property of the company.
Typically, I might say that service is the time during which I am being paid but there is no wage associated with the shareholding.
I am a contractor and work for other customers, I am concerned that such a clause would mean that I would be obliged to disclose customer secrets as they are in similar sectors. Am I over-stressing or should I argue the clause?