Managing Potential Conflicts of Interest

Faculty often engage in professional activities that, although appropriate, carry with them a moderate to high potential for conflict of interest under the University of Minnesota Regents Policy on Conflict of Interest. Potential conflicts are common and, in most cases, can be effectively managed. Some relationships simply create a need for clarification and more transparent administration. Some cases, however, include business or financial interests that make it necessary to take extra steps to allay possible concerns of the scientific community and the general public.

The Conflict Review Committee (CRC) reviews such situations, as referred to them by the collegiate deans, and determines whether plans for managing potential conflicts adequately address concerns. The most effective first step after a potential conflict is identified is for the faculty member to propose an explicit conflict management plan. Faculty involvement in the process of identifying and defining potential for conflict of interest is a critically important component of the institutional process of managing potential conflict of interest. The faculty member has the best knowledge of where the potential for conflict of interest in their work is greatest and how it can be managed most effectively. They are the most likely to be able to identify an efficient and effective approach to managing conflicts.