What I build in my offtime is mine; this is in fact where every entrepreneur starts. What you're proposing is that all innovation should stay in the hands of the employer, and you as an employee are shackled at all hours.
I know that some states have different laws in this area, but CAs are strong, and no one owns what you do when off from work and using your own equipment but you. Do not ever give up that right or we all lose.