WHAT is a financial conflict of interest (FCOI)?
A financial conflict of interest is a situation in which the potential exists for an individual’s personal financial interests to influence one’s judgment in executing professional responsibilities to the University of Utah. A financial conflict of interest is NOT an admission of wrongdoing. A significant financial interest does not necessarily mean a conflict exists.
WHY is conflict of interest oversight necessary?
To protect the researcher, the research team, the University, the science, the public, and human participants enrolled in research projects.
WHO needs to disclose?
- Research investigators
- Employees who:
- Have purchasing authority on University accounts
- Are named inventors on inventions disclosed to the Technology Venture Commercialization (TVC) Office.
WHAT needs to be disclosed?
- Business relationships external to the University
- Intellectual property
WHAT happens after I disclose?
HOW do I disclose?
Disclosure is completed through the University of Utah Business Relationship Reporting system.
To view a short 5 minute video demonstrating how to use the tool, follow this link: Video Demonstration of Business Relationship Reporting
IS my disclosed information confidential?
The University complies with federal and state laws that may require public disclosure of information relating to identified conflicts of interest. This includes making certain information available on a publicly available web site. Within the University, decisions about the management of conflicts of interest are routinely provided to appropriate University offices and to other employees whose responsibilities to the University are directly affected by the conflict of interest
Note: The COI Office CANNOT add/remove personnel from an IRB application. Please contact the IRB Office to make these changes.
When do I need to disclose?
- At least 30 days after acquiring a new financial interest.
- Within 90 days prior to new OSP award or IRB application, within 12 months prior to a milestone or continuing IRB review.
- PRIOR to making or influencing Purchasing decisions and/or transactions with business entities.
- When submitting an invention disclosure to the TVC.