DEFINITIONS

Conflict of Interest:  A potential conflict of interest occurs when there is a divergence between private interests and professional obligations to the University such that an independent observer might reasonably question whether the professional actions or decisions are determined by personal financial gain.

Conflict of Time Commitment: A potential conflict of time commitment exists when professional activities external to the University exceed reasonable time limits or whenever primary professional responsibility is not to the University.

Covered Individuals: Utah Valley University’s policy on Conflict of Interest covers all full-time faculty and staff and all others who have real or perceived conflicts of interest.

Family: Family includes spouse, dependent children, and members of personal household.

Significant financial or other interest : Anything of significant monetary value, including but not limited to salary or other payments for services; equity interest (e.g., stocks, stock operations or other ownership interest); intellectual property rights (e.g., patents, copyrights and royalties from such rights). “Significant financial or other interest” also means the holding of a position as an officer, director, agent, or employee of a business entity. “Significant financial and other interest” includes such interest held by the employee or by the employee’s family members.