blue- I agree there is no issue as to who owns the IP. IPCI shareholders do. Odidi will get laughed out of a court room if he tries to claim ownership. This is really standard. Company pays you salaries, bonuses, etc. While everything you develop with their tools, resources, money, etc. is entirely the companies.
You also agree not to engage in any type of business that is in competition with the company. Some people will say Odidi starting a pharmaceutical company in China is indeed a violation of that agreement. However, Odidi will say this company does not deal with development/manufacture/sale of controlled release drugs... I guess that will be up to the courts to decide. I would say both arguments have some merit.
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