As part of our policy on Financial Relationships with Outside Entities, the Icahn School of Medicine at Mount Sinai permits faculty members to enter into an agreement as a private individual, in a consultative or other financial arrangement, with an outside entity that falls outside of their scope of employment here at Mount Sinai.
In aggregate, consulting arrangements may not exceed 52 days, and faculty members must be compliant with all institutional policies, including:
- Conflicts of Interest Policy
- Use of Mount Sinai Name
- Intellectual Property and Patents
- Speakers Engagments
After obtaining department chair or division director approval, faculty members must submit their proposed consulting agreements for review and approval by the COI Office. Participation in scientific advisory boards, non-CME speaking engagements, and general consulting activities all require COI Office review and approval. Exempt from this requirement are medical-legal consultations or participation in CME speaking engagements; these require only department chair (or division director) approval.
Faculty members cannot enter into personal consulting agreements that promote or endorse a product or service.
Faculty members cannot enter into personal consulting agreements that involve the provision of clinical care or the conduct of research outside of Mount Sinai.
The following types of agreements should not be submitted to the COI Office, but should be filed with Mount Sinai Innovation Partners:
- Sponsored Research Agreements
- Data Transfer Agreements / Data Use Agreements
- License Agreements
- Material Transfer Agreements
Guidance on Submitting a Personal Consulting Agreement.
Faculty Agreements – Quick Reference Guide
Guidelines for Faculty Requesting Board of Directors Positions with Outside Commercial Entities