Ask HN: Starting new job - advice on IP/outside business

I graduated college in May and accepted a position at a consulting firm in the Baltimore/DC area. I am in the process of completing/reading several forms before I begin work in mid July and I have some questions regarding a web site that I have been working on called Napkin Board (www.napkinboard.com) while I was still in college. The website provides an Amazon.com-style rating system that allows students to provide feedback on their dining hall meals. Napkin Board has the potential to generate revenue and could be seen as an outside business, but is currently just a website that I work on and is not a company. I would like to be sure that I will be free to continue developing it during my free time and turn it into a company at a time of my choosing. Two main questions: 1) Proprietary Information and Intellectual Property form states: 5. I hereby assign to Company X all right, title, and interest in any developments, designs, patents, inventions, improvements, writings and other works of authorship, trade secrets, artwork, ideas, know-how, drawings, specifications, models, trademarks, copyrightable material, software (e.g., source code, object code, algorithms, flow charts and design documents), and Proprietary Information (“Company X Developments”) that I made, developed, or conceived, or I may make, develop, or conceive, during the term of my employment, whether or not made or prepared in the course of my employment with Company X: - With the use of the time, materials, equipment, information, or facilities of Company X; or - That relate, at the time of conception or reduction to practice, to any Company X product, service, activity, trade secret, actual or demonstrably anticipated research or development, business method, or other methodology; or - That are suggested by or resulting from any work performed by me or others for Company X I understand that the terms of this paragraph 5 apply to Company X Developments that are made, developed, or conceived solely or jointly with others, on or off Company X's premises, and during or outside regular working hours. I shall promptly disclose to Company X any such Company X Developments during the period of my employment with Company X and for a period of six (6) months thereafter. Notwithstanding the above, I understand that the invention assignment provision of this paragraph does not apply to an invention that qualifies fully under the provisions of Section 2870 of the California Labor Code or under other similar state law provisions. 6. Attachment A lists items of intellectual property (e.g., trademarks, designs, patents, patent applications, writings, copyrights) that I own or control and that I made or conceived before the date of my first employment with Company X I do not expect this site to interfere in any way with my work at the new firm, but I would like to follow the appropriate steps to list the site and all of its associated material in Attachment A. How in-depth should I go when explaining the site and its associated materials (ie, the associated Android app, blog, etc)? Is this something you think I could complete on my own? Is my thought of contacting a lawyer just crazy, paranoid over-kill? 2) The Code of Ethics for the new firm has a section addressing secondary employment and states that: Company X employees may not undertake secondary (non-Compnay X) employment in any capacity, including as an employee, consultant, owner, or independent contractor, with any organization, nor operate any business or professional venture, unless he or she receives advance approval in writing from his or her Officer Is this something that I should ask the firm to help me resolve/understand before I submit my paperwork?