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Employment of Students and Residents in Faculty-Owned Businesses Policy

Effective April 17, 2002

POLICY

Students may be employed by companies in which faculty members hold an ownership interest.

Exception:
A student may not be employed by a company in which a faculty member (or faculty member’s spouse or household member) has an ownership interest if: (a) the student is enrolled in a course in which the faculty member may have input into a grade or academic evaluation; (b) the faculty member is a member of the student’s thesis or dissertation committee; or, (c) the faculty member is the student’s advisor or the director of his or her thesis or dissertation research. Such students may perform research benefiting a faculty owned company only pursuant to a sponsored research agreement or formal internship agreement through the University.

BACKGROUND

IThe employment of students in faculty-owned businesses requires special safeguards to ensure that the financial interests of the faculty member do not impact the academic status of the students. Formalizing a policy for this that is consistent for the entire University (KU-Lawrence Campus and KU Medical Center) will help standardize procedures and protect students, faculty and the University.

PROCEDURES

Prior to such employment, the student, faculty member, the chair of the student’s department, the Dean of Graduate Studies, the Vice Chancellor for Research, and a company officer (other than the faculty member) must sign a disclosure agreement as shown in Exhibit A.

GROUPS COVERED

Students, medical residents, faculty members, and faculty-owned companies

RELATED POLICIES OR DOCUMENTS

Policy on Conflict of Interest - under development

Institutional Conflict of Interest

Inventor Conflict of Interest

KUMC Faculty and Unclassified Handbook Patent Policy and Procedures (PDF)

KUMC Graduate Studies Handbook Policy on Conflicts of Interest

KUMC Student Handbook Intellectual Property Policy

Kansas Board of Regents Policy on Intellectual Property

CONTACT

Dean of Graduate Studies, 588-1258

Exhibit A

Student Disclosure Agreement

This agreement is between the University of Kansas Medical Center, an institution of higher education located at 3901 Rainbow Boulevard, Kansas City, Kansas, ____[name]_______ Company, a corporation with its principle place of business at___[address]______, and ____[name]______, a Student/Resident in the ____[name]______ Department in the School of ____[name]______ at the University.

Whereas, in order to govern the relationships among the University, its faculty and staff, and Company and to avoid or manage any conflicts of interest that may arise by virtue of these relationships, the University and Company entered into this Student Disclosure Agreement executed on __[date]__; and

Whereas, the Student/Resident desires to accept an employment position with Company and also proposes to enroll in courses at University.

Now, therefore, the parties agree as follows:

The following conditions shall apply to the employment of the Student/Resident by Company during the period beginning__[date]___ and ending__[date]___.

  1. The Student/Resident is free to accept or reject an offer of employment by Company and may terminate this employment at any time.
  2. The manner in which the Student/Resident performs his/her duties while an employee of Company and the voluntary or involuntary termination of his/her employment shall bear no relation to his/her status as a Student/Resident of the University or the evaluation of his/her academic performance.
  3. Employment with Company will not affect consideration of the Student/Resident for a subsequent appointment as a graduate teaching assistant or graduate research assistant or for other University-funded or -administered financial support.
  4. Employment with Company will not contribute to progress towards a degree.
  5. There will be no overlap between work performed by the Student/Resident in his/her capacity as an employee of Company and the work he/she performs at the University on research projects if otherwise sponsored by Company.
  6. University employees shall not be involved in any way in the supervision of the Student/Resident or the evaluation of his/her employment performance while the Student/Resident is acting as an employee of Company.
  7. Company employees shall not be involved in any way in the supervision of the Student/Resident or the evaluation of his/her academic performance while the Student/Resident is acting as an employee of the Company.
  8. The student will receive monetary compensation for his/her work at Company. The student shall not be compensated through the issuance of shares of stock or stock options.
  9. Company agrees that it does not intend, by virtue of the employment of the student, to acquire, nor will claim intellectual property rights that would otherwise be owned by the University.
  10. Company shall disclose to the University the terms of employment and the nature of the work to be performed by the Student/Resident. This disclosure will assure that work performed by the Student/Resident will not continue, derive or carry forward work performed previously at the University as sponsored research.
  11. It is the responsibility of the faculty member/company owner to keep the student /resident apprised of any new information that would alter this agreement. If there is a question as to the impact of new information, the faculty member is responsible to consult with the Dean of Graduate Studies and the Vice Chancellor for Research.
___________________________ _________
Student/Resident Date
___________________________ _________
Faculty Member Date
___________________________ _________
Company Officer Date
___________________________ _________
Department Chair Date
___________________________ _________
Dean, Graduate Studies Date
___________________________ _________
Vice Chancellor for Research Date