Conflicts of Interest
Interactions with Vendors and Other Commercial Entities
Consulting/Relationships with Outside Entities
There is a potential for a conflict of interest in any business relationship between a member of the Mount Sinai faculty or staff and an outside company or organization. Relationships can take many forms, including: membership on boards of directors or scientific advisory boards; review/evaluation of efficacy of new products or devices for vendors; consulting with institutions on behalf of a vendor; expert witness testimony, etc.
Faculty and staff with decision-making authority for procuring specific products or services for Mount Sinai may not have an outside business relationship with a company that provides those products or services to the institution.
Full-time faculty must have all of their outside relationships reviewed and approved in accordance with the Policy on Financial Arrangements With Extramural Entities. This policy includes a description of time restrictions relating to arrangements with outside entities.
Members of the management staff must submit a written description of the arrangement, including estimated time required and remuneration, to the Chairman or Senior Vice President in charge of their department. Staff can only take time off from their regular duties if prearranged through the appropriate Chair or Senior Vice President.