Description of External Relationship

Professor Busy has a consulting relationship and serves on the Board of Directors with NewTurns, a private corporation. She received more than $10,000 in compensation from NewTurns last year. She has no other consulting contracts, but occasionally serves as an expert witness for the EPA for minimal compensation and expenses. Prof. Busy also has a research project funded by EPA, but not directly related to the consulting that she does with NewTurns. Professor Busy currently has several graduate students as advisees and is a sought-after advisor. Professor Busy is applying for a new research contract with NewTurns.

Areas of Potential Conflict of Interest

A potential conflict arises because Prof. Busy has both a business and a financial interest in NewTurns. This represents a potential conflict of interest under the following provisions of the Regents Policy:

"An employee participating in clinical trials or evaluation or development of a technology, process, or product owned or controlled by a business in which the employee, an immediate family member or an associated entity has a business or significant financial interest."

"An employee assigning students, postdoctoral fellows, or other trainees to projects supported by a business in which the employee, an immediate family member or an associated entity has a business or significant financial interest."

Regents Policy on Financial or Business Conflict of Interest (June 8, 2001), art. 5, sec.III, subds.1(a) & (b)

Conflict Management Strategies

Professor Busy may accept the contract with NewTurns provided the following actions are taken and maintained during the course of the contract:

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