This is a real legal question, but I've changed the names so that its anonymous: Mr X happily owns and runs Acme Corporation. He sees the demand for an app for catching Road Runners and asks Mr Y to build it with the agreement that they will both own 50% of the app ( partnership agreement). When it comes to finalising the nitty gritty Mr X suggests that Acme Corporation should own the IP to make the agreement easier (the IP agreement therefore states that Acme Corp owns 100% of the RoadRunnerCatcher app, rather than 50/50). Mr Y would still be entitled to 50% of revenue and 50% of sale amount (if product is sold). 1. Is it even possible under intellectual property law to split the IP between a sole trader and a company or does a company (or trust) have to own 100% ? 2. If question 1 above is possible, is it silly for Mr Y to allow Acme to have 100% of the IP even though Mr Y is still entitled to 50% of revenue and sale price? 3. What disadvantages are there of giving away the IP to a business partner? Thank you for your time and help.