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Financial Interest - Any interest that will, could or is intended to lead to a profit or an ascertainable increase in the income or net worth of an Employee and/or a Dependent. Such a profit or increase in income or net worth could be realized through the receipt of anything of monetary or potential monetary value, including, but not limited to, payments of any kind (e.g., salary, consulting fees, honoraria, gifts, dividends, distributions, rent, paid authorship, etc.), Equity Interests, an increase in the value of real estate or Equity Interests, or Intellectual Property Rights.
Employee - Each employee of Purdue University, wherever located and whether full-time or part-time, including, but not limited to, all executive officers, faculty and staff.
Dependent - An Employee's spouse, Domestic Partner or unemancipated child(ren), including stepchildren and adoptees, under the age of 18, or anyone who receives more than one-half of his or her financial support during a year from an Employee.
Domestic Partner - A same sex domestic partner of an Employee who is eligible for same sex domestic partner benefits under University policy.
Financial Conflict of Interest (FCOI) - Situations where an Employee's Financial Interest (including an Investigator's Significant Financial Interest, where applicable) compromises, or could appear to compromise, his or her judgment or ability to carry out the Institutional Responsibilities associated with his or her appointment or employment. A Financial Conflict of Interest may take many forms, but in general arises when an Employee in a relationship with an outside person or organization is in a position to influence the University’s business, research or decisions in ways that could lead directly or indirectly to financial gain for the Employee or the Employee’s Dependents or could give an improper advantage to others to the detriment of the University.
When applied to an Investigator, Financial Conflicts of Interest occur in situations in which such Investigator's Financial Interest (including Significant Financial Interest) compromises, or could appear to compromise, his or her professional judgment regarding the design, conduct or reporting of research or if such Financial Interest could directly and significantly affect the design, conduct or reporting of research. The bias such conflicts may conceivably impart not only affects collection, analysis and interpretation of data, but also the hiring of staff, procurement of materials, sharing of results, choice of protocol, involvement of human participants and the use of statistical methods.
Financial Conflicts of Interest also include the use of University facilities, personnel, equipment, IT Resources (as defined in the IT Resource Acceptable Use Policy (V.4.1)), confidential information or other resources for purposes that could lead directly or indirectly to financial gain for the Employee and/or his or her Dependents.