this site helps answer that one: http://www.backofanapkin.co.nz/start
I actually just want to walk away, my point was more about how can I politely tell you that I don't want to do this anymore? Not so much the legal ramifications of who owns what.
Worked just fine for me at my previous company- client base shrunk to almost nothing and while we could still pay the bills and our salaries, I quit the company and moved to embedded software/hardware. Probably my best decision career-wise.