criminy ...
... I hate that "bio-tech scenario", especially the part you just now added to it.
So, if the IP is worth enough for someone to go through all of those shenanigans, leave a company, surface later as the owners of the IP and go with another firm ... why don't they simply make hay with the IP with the original company? If it's worth something later, it should be worth that same something sooner.
Of course, your scenario allows for the 'poofing' of half a billion+ shares, and I suppose that's always a plus when a company can pull THAT off.
jonesie