Excellent question; why go through all that if the IP is of value to begin with? Heres why (reference here of 'you = management);
- you try (management) to make something out of it, but failed. So it is not as though you did not try
- you believe in the IP, and know it could be worth something, if it was implemented in a useable fashion (which you tried but failed at)
- you take the IP, and this allows you to get in the door with another company that can make use of the IP
- in exchange for bringing the new company the IP, you get a nice job, you get stock options
- the new company, who does know how to manage a business, makes more money, which you are a part of, and now you get to hold your head up and say 'I told you so...'
And there you are, head held high, buckets of great options in a real company, cash galore from the signing bonus for brining the IP. Cost of wiping out a lot of investors; priceless (wasn't your money).
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