The content of these reports, and the basis for the permission itself, are subject to review by the department chair, relevant dean, and Provost. Academic Staff must not allow other professional activities to detract from their primary allegiance to Stanford. For example, Academic Staff employed on a full-time basis must not have significant outside managerial responsibilities nor act as a principal investigator on sponsored projects that could be conducted at Stanford University but instead are submitted and managed through another institution. A conflict of interest occurs when there is a divergence between an individual's private interests and his or her professional obligations to the University, such that an independent observer might reasonably question whether the individual's professional actions or decisions are determined by considerations of personal gain, financial or otherwise. A conflict of interest depends on the situation, and not on the character or actions of the individual.
Conflicts of interest are common and practically unavoidable in a modern research university.
Academic Staff should conduct their affairs so as to avoid or minimize such conflicts of interest, and must respond appropriately when conflicts of interest arise. Academic Staff must disclose on a timely basis the creation or discovery of all potentially patentable inventions created or discovered in the course of their University activities or with more than incidental use of University resources. Ownership of such inventions must be assigned to the University regardless of source of funding. The inventor will share in royalties earned. School deans may consult with the Dean of Research in this regard.