What is meant by managing a conflict of interest?
Once a potential conflict of interest is identified, it is the joint responsibility of the faculty member and the Chair/Unit Head and/or Dean to devise an appropriate management plan that is satisfactory to the Conflict of Interest Committee. Management plans distance the person with the conflict from the conflicting roles that could give rise to concerns about bias or influence resulting in personal gain. This is typically accomplished through the insertion of other independent individuals into oversight roles to minimize the potential for bias or influence, or by the removal of the conflicted party from such roles. As an example, suppose a faculty members NIH sponsored research needs a unique toxin that is only manufactured by the faculty members company. An appropriate management plan might include review by a third party of the purchase price in every transaction and a judgment that the cost is appropriate. As another example, suppose a faculty member owns 50% in a company that is
