help me understand then, because if its a bad contract you don’t have to agree to it. so in what way are these people forced to sign contracts, and what are these terms and conditions that let people steal IP?
Not everyone is literate in contract law, so most people won’t notice these kinds of hidden clauses that allow this. In this case it was a combination of signing over the IP to the developing company which they coowned. because that’s pretty standard procedure. Together with the investors managing to get a majority share of the company and forcing the original devs out by vote.
Just one of the reasons why smart people just license out their IPs. This way no one can take it from you. But again, you have to know quite a bit about contract law to know how this works.
