You are the Project Manager for a research and development team at Acme Corporation. Acme is known mostly for its rocket engines and helicopter designs. Your team has successfully developed several inventions for Acme and is largely responsible for making Acme the world leader in this field. One day, while you were all watching cartoons on the television in the lunchroom, a member of your team (you don't remember who) suddenly had an ideabackpack-sized rocket engines and helicopters that an individual person could wear.

For a long time now your team has felt that it was not adequately compensated by Acme for its last inventionthe rocket powered hang glider. Acme made millions of dollars by marketing that invention to college students under the name "Extreme Flight". It was your team that came up with that name, as well as designed how the device would work and even drafted the home assembly manual. Yet they only received their paltry salary as a reward.

This time, you plan to ensure that you and your team get a bigger share of the credit, as well as the financial reward. You are considering the possibility of developing the rocket-powered backpack and then going into business for yourself. But before you do, you must consider the following issues:

Question 1: Who owns this new idea? Under what conditions might your answer change?

Question 2: Is your idea Patentable?

Question 3: What steps might your employer take (or have already taken) to prevent you from carrying out your plan if they find out about it?

Question 4: What's to stop one of your employees from simply taking your new invention and starting their own company to manufacture the rocket powered hang glider before you do? Is there anything you can do?

Question 5: A member of your team suggests that the name Ace Rocketry Inc has a nice ring to it and would make a good name for your new business venture. Should you adopt this name?