Built a tool on the side that would drastically help at work. Try to keep it as my own or just hand it over for a corporate pat on the back? (I will not promote)
I work at a financial services firm in a senior associate/AVP level role. In my free time, I built software that solves a workflow problem that my team deals with on a daily basis. I started as a personal project just to partake in more productive hobbies, but it evolved into a branded saas product with working core functionality. Instead of watching slop on tv or playing video games, I wanted to learn a new skill and build in my free time. The issue is that licensing it commercially, especially b2b, would require a lot more legal, security, compliance, and product investment than I can realistically handle alone right now. I also learned that my employer may be able to run a tool like this internally even if it could not pass the normal vendor security process. So I am debating two paths: 1) keep the IP and try to build/license it as an actual business, with the risk that my employer could replicate it or sue me for IP/outside business concerns, or 2) bring it in as an internal tool and give up on the commercial upside in exchange for career goodwill (and potentially not being sued). No I do not think I am the next Zuck, Van Rossum, or Sweeney. What I built is not some profound, revolutionary infrastructure. The industry I work in feels like a decade behind more tech dominant roles. Would the tool add strong efficiency to the team and I's current day to day operations? Absolutely. I do the job everyday, I want to incorporate it and automate an outdated part of our process. That said, there are headaches beyond just the legal and developmental hurdles should I continue to build this as a standalone business (formation of an LLC, hire an attorney to draft ToS, DPA, etc.) Not to mention the requirement for a SOC 2 Type I. For anyone who has been in a similar situation: does bringing something that you built into your firm ever translate into meaningful compensation, promotion, or career advancement? or does it usually amount to a pat on the back? I intend to clarify the IP situation with an attorney before doing anything, but for context: the project as a whole did not require the use of company resources, equipment, time, or data. I would work on it most weekend nights instead of couch rotting.