In an update on his blog, IW's director of communications / community manager Robert "Fourzerotwo" Bowling reveals that the company is looking at "the possibility of a unique new IP" – one that it will "have complete control over." We're going out on a limb and betting that it won't have anything to do with military combat.
As for its next game? The one that's not an original IP and wow-that-sure-sounds-like-COD5? Bowling says that IW is "excited to be working on our next project, but it's going to be quite a while before I can share any details on exactly what that project is." "Quite a while" = [insert industry event here] '09.