David Cullinane (Waterford, Sinn Fein) | Oireachtas source

Paragraph 3.4 relates to the timeline of events. It refers to the establishment of Aceno Mobile Services Limited and eventually FeedHenry Limited. My understanding, from reading national policy and the policy of Waterford IT in respect of spin-out companies and so on, is that it seems the policy is written from the viewpoint that these companies would be established within the institute. It seems from this perspective that the company was established outside of the institute privately and it then came to the institute and sought the IP. Is my reading of that right?