I spent 4 years developing an App. Recently I started a Proprietary Limited company (I'm in Australia). Me and my wife are the only directors.
Before getting share holders into the company, is it legal to make a IP transfer contract between myself and my own ltd company? Specifically, the contract will set a sale price of $800,000 for the App to the company, which is payable in small monthly installments to me (the creator). The ownership is transferred in percentage relative to the ammount paid over time.
My intention is to protect myself. If I'm fired from the Company, I'm compensated for my original work.