Not if you use company resources.
But otherwise, it looks close.
Note, IME, employees have a very very very different viewpoint of what the company's business is than the company.
Google has a fairly simple (IE takes < 1 week, approves 90%+ of requests) for releasing IP in the same situation github is doing this.
Most of the conflicts are when people come and say "I want to build an ad auction for mobile search, and if it goes well, i want to quit and build a startup around it", and then want to argue over whether "ad auction for mobile search" is part of Google's business or not.
Note, IME, employees have a very very very different viewpoint of what the company's business is than the company.
Google has a fairly simple (IE takes < 1 week, approves 90%+ of requests) for releasing IP in the same situation github is doing this. Most of the conflicts are when people come and say "I want to build an ad auction for mobile search, and if it goes well, i want to quit and build a startup around it", and then want to argue over whether "ad auction for mobile search" is part of Google's business or not.