Are faculty permitted to invest in start-up companies of current Stanford University students?  All faculty should consider carefully whether investing in any current student or postdoctoral fellow’s company is in the best educational interest of the student or fellow, whether or not the faculty member has any involvement with the student’s academic program. However, a higher standard applies when a faculty member has direct involvement in a student or postdoctoral fellow’s academic program, including as the academic advisor, an honors/PhD thesis advisor, or a classroom teacher in the student’s major. In these circumstances, a faculty member who wishes to invest in a current student or postdoctoral fellow’s start-up company must receive approvals from the Dean of the student or postdoctoral fellow’s school, the Dean of the faculty member’s school and the Vice Provost and Dean of Research. The strong presumption is that such involvement would constitute a significant conflict of interest that could not be mitigated or managed and that it would therefore not be permitted. Academic staff, other teaching staff, and those who directly interact with students and postdoctoral fellows in the role of instructor or advisor should also follow these procedures.  Please review the entire memo dated 9/18/2013, Faculty Investment in Stanford Student Companies.

Use the PHS Travel Inventory form.  Follow the instructions on the form and fax to the number on the form. Note that your initial disclosure must include reimbursed or sponsored travel received in the preceding twelve months.

Faculty who receive NIH or other PHS grants and contracts MUST complete on-line training about Conflicts of Interest before any funds for new grants or competing/non-competing renewals that are received by Stanford on or after August 24, 2012 can be released for expenditures. This training must be renewed every 4 years. In addition, Stanford requires all newly-hired faculty to complete training on identifying and reporting conflicts of interest.

New faculty who completed the previous Stanford COI training module prior to August 24, 2012,  and who have or expect to apply for NIH/PHS funding must repeat it.

COI training provides an overview of high-risk situations which can lead to conflicts of interest for faculty. 

You can register for the training in the Training section of this website.

xNew faculty who completed the previous Stanford COI training module prior to August 24, 2012,  and who have or expect to apply for NIH/PHS funding must repeat it.

COI training provides an overview of high-risk situations which can lead to conflicts of interest for faculty. 

You can register for the training in the Training section of this website.

Faculty must disclose, on an annual basis, all financial relationships that reasonably appear to be related to their institutional responsibilities. This is done through the Outside Professional Activities Certification System  known as OPACS.  

In addition, as faculty enter into changed or new financial relationships related to their institutional responsibilities they can access their OPACS disclosures to update previously reported activities or financial relationships, or to enter new activities. T

Personal financial interests in a company may reasonably appear to be related to the research/scholarship if that company/organization:

• Sponsors research at Stanford in which the investigator is directly involved

• Has financial interests that could reasonably be considered to have a potential influence on the design, conduct or reporting of the investigator’s research/scholarship

• Has a reasonable possibility of being financially affected by the investigator’s research/scholarship

• Makes gifts to Stanford that benefits the investigator’s research/scholarship (including equipment gifts or loans)

• Makes a product that is under study in research in which the investigator is involved

• Licenses Stanford intellectual property in which the investigator has a financial interest

• Has a Materials Transfer Agreement or Human Tissue Agreement (MTA/HTA) to provide materials used in the investigator’s research or for materials provided by the investigator to the company/organization

• Sponsors or makes a product that is under study in human subjects in which the investigator is directly or indirectly involved

• Has interests that are related to the investigator’s general scientific or scholarly expertise

The financial interest thresholds defined as significant financial interests (SFI) by the Public Health Service (PHS) are as follows:

• Payments for services over $5,000 /year or the ownership or promise of stock or stock options valued at $5,000 in a publicly traded company;

• The ownership or promise of stock or stock options of any amount in a privately-held or start-up company;

• Royalties over $5,000/year not paid through Stanford University.

While most disclosures of financial interests will be deemed de minimus or insignificant in terms of potential effects on your ability to perform your duties without risk of bias, financial interests above thresholds will automatically be deemed significant conflicts of interest and will require closer scrutiny and possible elimination, mitigation, and/or management.