Institutions must have conflict of interestConflicts of Interest
A situation in which an individual has one or more significant financial interest that have the potential for tainting or have the potential to taint the conduct or reporting of the work conducted under a sponsored project. policies that take into account and are, at a minimum, consistent with relevant federal regulations and policies.
Conflicts of interest are not inherently bad or unethical. Rather, it is the failure to acknowledge and report real and potential conflicts or the failure to manage them effectively are clear violations of the appropriate stewardship of sponsored funds and most institutions’ relevant policies.
Faculty and other researchers having a financial interest in either an external entity sponsoring the research or an external entity that might benefit from the research is not in itself an inherent conflict of interest (but such interests must be disclosed, reviewed, and, if necessary, managed or eliminated).