Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

REGENTS’ POLICY MANUALSECTION 3—GENERAL POLICIESSound professional discretion is an integral part of the University's financial conflict of interestsystem. Any review of a potential financial conflict of interest will be undertaken in light of four generalpropositions.First, financial conflicts of interest per se are inevitable and do not necessarily represent anyimpropriety by employees if disclosed in advance. Second, the failure to disclose a financial conflict ofinterest for administrative review and response would be a serious mistake for any employee, and may bea breach of this policy. Third, there is a presumption in favor of allowing employees to act in dual rolesonce the financial conflict of interest has been disclosed (prior written approval is required in cases ofpotential conflicts involving federal grants or contracts). Fourth, financial conflicts of interest may be soprofound or substantial that it would be best for all concerned if the employee did not participate in aparticular transaction.It is not possible to completely eliminate the potential for financial conflict of interest because thereare certain rewards and incentives that are inherent or appropriate in the structure of a Universityenterprise. Such conflicts become detrimental when the potential temptations, financial or otherwise,undermine reasonable objectivity in the design, interpretation, and publication of research; settingUniversity policies; managing contracts; selecting equipment and supplies; involving students insponsored projects; or performing other roles in University governance in which objectivity and integrityare paramount. Furthermore, since allegations of financial conflicts of interest based on appearances canundermine public trust in ways that may not be adequately restored even when mitigating facts arebrought to light, apparent financial conflicts should be avoided, when feasible and appropriate.Other sections of this policy notwithstanding, it is the ongoing responsibility of the employee to abideby the provisions of all other applicable federal, state, and University laws and policies relating tofinancial conflicts of interest; to identify potential financial conflicts of interest; and to disclose and seekguidance on such matters from the appropriate vice president.The full text of the Financial Conflicts of Interest –Norman Campus policy is included in the NormanCampus Faculty Handbook and the Staff Handbook.(RM, 10-13-88, p. 20597; 1-16-89, p. 20834; 10-14-93, p. 23584; 9-26-95, p. 24570; 12-10-96, p.25199; 9-11-01, p. 27693; 1-27-2004, p. 28924)3.1.8—INTELLECTUAL PROPERTIES POLICYPREAMBLEThe people of the State of Oklahoma may reasonably expect that their investments in the Universitywill create new industry and enhance existing industry within the State and Nation. Such new industrycreates greater employment opportunities for citizens of the State and the Nation and an improvement intheir standard of living.THE UNIVERSITY OF OKLAHOMA 172