Frequently Asked Questions
1. How do I know if I have a conflict of interest situation that must be disclosed?
2. Who decides whether my situation represents a conflict of interest?
3. What does "related" mean in the context of sponsored research or technology tranfer agreements?
4. What is a "significant financial interest"?
1. How do I know if I have a conflict of interest situation that must be disclosed?
In general, a conflict of interest related to research or technology transfer may exist when you have a financial interst in another entity that is funding your research or which might derive financial benefits from the outcomes of your research.
More specifically, you are probably in a conflict situation if you can answer yes to one of the following questions:
- Do you or your family members own stock or have other ownership interests in the project sponsor with a value of more than $10,000 or more than 1% of its equity?
- Do you or your family members own combined stock or other ownership interests in the project sponsor with a value of more than $10,000 or more than 5% of its equity?
- During the next 12 months, will you or your family members receive salary, consulting fees, royalties or other payments from the project sponsor totaling more than $10,000?
- Do you or your family members hold a position in management or employment with the research sponsor, or a company that may wish to license UM technology? These positions include Member of Board of Directors, Trustee, Member of Scientific Advisory Board, Officer of the company, employee.
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2. Who decides whether my situation represents a conflict of interest?
The UM campus has two conflict of interest committees that review potential conflict situations and determine whether steps need to be taken to minimize the conflict risks involved with carrying out the sponsored research or technology transfer agreement. One committee is organized by the Medical School and the other by the Office of the Vice President for Research.
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3. What does "related" mean in the context of sponsored research or technology tranfer agreements?
An entity "related" to the sponsored project includes:- A supplier of equipment, materials, or services related to the research;
- A business commercializing a product that the research is intended to evaluate or further develop; or
- A party whose financial interests would seem to be directly and significantly affected by the research.
4. What is a "significant financial interest"?
Anything of monetary value (above a certain threshold), including, but not limited to:
- Salary or other payments for services (e.g., consulting fees or honoraria);
- Equity interests (e.g., stocks, stock options, or other ownership interests); and
- Intellectual property rights (e.g., patents, copyrights, and royalties form such rights).
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