As you know, LG Electronics is a global electronics company constantly developing new design and other ideas for its technology. The rules relating to IP ownership have been designed to protect LG in the event we are developing new technologies or designs similar to the ones submitted by an entrant. We understand where you’re coming from, and that is why we tried to make the size of the prizes larger and award more winners than most other competitions (43 total).
Regarding the topic of spec work, crowdSPRING has talked and written about this subject numerous times in the past. For example, you’ll see their thoughts about it here: