I went through something similar with a prior startup. Though, it wasn't anything nefarious, like this. Basically, the plan was to create a new for-profit enti

I went through something similar with a prior startup. Though, it wasn't anything nefarious, like this. Basically, the plan was to create a new for-profit entity then have the not-for-profit license the existing IP to the for-profit. There were a lot of technicalities to it, but most of that was handled by lawyers drawing up the chartering paperwork.