Outside Activity Disclosure Definitions

The following definitions are included in USU Policy 2301: Individual Conflicts of Interest, and align with regulatory language for federal "Objectivity in Research" and the "Utah Public Officers' and Employees' Ethics Act."

Business Entity:

A domestic or foreign, public or private, sole proprietorship, partnership, association, joint venture, corporation, firm, trust, foundation, or other organization
or entity used in carrying on a registered business.

Transactions:

Include but are not limited to purchases (including the purchase of supplies, equipment, or services), subcontracts, sub-awards, material transfer agreements,
term sheets (whether binding or non-binding), option agreements, licensing agreements, agreements for sponsored research, grants, lease agreements, etc.

Significant Financial Interests:

Remuneration received from an entity or related entities (such as a subsidiary) during the twelve months preceding Disclosure. Remuneration includes:

  • Salary (other than from USU)
  • Consulting Fees
  • Honoraria
  • Paid Authorship

Equity interests in the entity or related entities. Such interests include:

  • Stocks
  • Stock options or warrants
  • Other ownership interests as determined through reference to public prices or other measures of market value, when available.
  • Intellectual Property Rights and interests upon receipt of income from such rights and interests (other than those allocated through USU)

SFI is limited as follows:

  • Salary, royalties or other remuneration paid to an individual from USU, including intellectual property rights assigned to USU and income therefrom shared with the individual ARE NOT INCLUDED.
  • Income from investment vehicles such as mutual funds and USU retirement accounts where the individual does not directly control investment decisions in these vehicles ARE NOT INCLUDED.
  • Income from seminars, lectures or teaching engagements sponsored through USU or other U.S. public or non-profit institutions of higher education or research institutions affiliated with such an institution ARE NOT INCLUDED.
  • Income from service on advisory committees or review panels for federal, state or local government agencies or other non-profit professional associations ARE NOT INCLUDED, but such engagements should be disclosed to USU supervisors, and included in employee role statements when appropriate.
  • Equity interests in publicly traded entities that, when aggregated for the individual and the individual’s spouse and dependent children, do not exceed $5,000 in value as determined through reference to public prices or other reasonable measures of fair market value or do not exceed more than 10% ownership interests in any single entity ARE NOT INCLUDED. However, equity interests in non-publicly traded entities in any amount held by either the individual or the individual’s spouse or dependent children must be reported as a Significant Financial Interest.