That document actually says that YOU own everything you do outside of work, so long as it doesn't use company resources or is directly related to your work at company.
The document most certainly said that my employer owned everything that I did that was related to my employer's business. The thing about working on salary is that there's no punching in and out; just because I'm working at home doesn't mean I'm necessarily "outside of work" -- I worked at home doing paid work for over three years, in fact, seeing the inside of their office only 2-3 days a month.
I work in games. If I do something in my free time that's game-related, it's arguably related to the work my company does.
So I quit and started contracting. Now I own what I work on when I'm on my own time.