INTRODUCTION AND GENERAL POLICY
A conflict of interest (COI) is a situation that has the potential to undermine the impartiality of a person due to a possible clash between his or her personal and professional interests. To help each member of the university meet his or her obligation to act in the best interest of the University, Loyola has instituted the following:
Chaired by the Dirctor of Grants and Sponsored Programs, the COI Committee reviews situtations in which a conflict of interest may exist, develops management plans, and oversees adherence to Loyola's policy. To discuss potential COIs or find out more about this topic, contact the chair, Heidi Davis.
ADDITIONAL POLICIES PERTAINING TO SPONSORED PROJECTS
Federal, state, and other funding agencies have specific policies concerning potential COIs. For this reason, when applying for sponsored project funding, project leaders and all associated investigators may be asked to provide additional disclosures and to otherwise adhere to sponsor-specific policies:
AGENCY POLICY STATEMENTS
For the purposes of these policies, the term investigaor means the principal investigator, project or program director, co-principal investigator, and any other person at the University who is responsible for the design, conduct, or reporting of programs or activities funded or proposed for funding by an external sponsor. In this context, this term also includes the investigator's spouse and dependent children. The term significant financial interest is defined by each sponsor. Generally, the term refers to anything of monetary value, including payment for services, equity interests, and property rights, excluding interests such as standard compensation from Loyola and interests below the sponsor's di minimus value (usually $5,000, but lower in many instances).