(A) Purpose. University faculty and some staff members have taken on new and different functions in addition to the traditional roles of teaching, research, and public service. Spin-off companies transferring technology developed in the laboratory, extensive consultative activities, and various types of public service involvement are encouraged by both federal and state agencies, and by the university as necessary for the public good. Governmental agencies have become more concerned about the extent and type of these activities as they relate to funded and proposed research and scholarly activities of faculty and have issued regulations that require the establishment of standards and procedures to ensure that the design, conduct, or reporting of funded research will not be biased by any conflicting financial interest of the investigator.
The regulations require universities to develop, publish, and enforce institutional policies which comply with the requirements for regular, timely, and full disclosure of actual or potential conflicts of interests as they relate to significant financial interests which could reasonably be seen by an impartial observer as affecting the design, conduct, or reporting of research or educational activities funded or proposed for funding by an external sponsor.
(1) Each investigator involved in sponsored activities whether proposed, pending or funded is required to disclose to a designated university official a list of significant financial interests (including that of his/her spouse and dependent children) that could compromise the objectivity of the proposed and/or supported activities.
(2) The university official will review these disclosures and determine whether any reported significant financial interests could directly and significantly affect the design, conduct or reporting of the research and, if so, such conflicts must be resolved by an administrative process.
(3) The vice president and dean, research and graduate studies, is responsible for administering the policy in accordance with existing present and future applicable governmental regulations.