Faculty members are required to seek written permission from the University in order to establish, own, or become partners in a commercial company.
Partnerships in commercial activities by faculty members are restricted by the Higher Education Law (No. 2547). The Technology Development Zones Law (No. 4691) has additional provisions for companies in technology development zones, including written permission requirements from universities where the faculty member is employed. Thus, faculty members are legally obligated to disclose ownership or partnership in commercial companies to the University.
Applications detailing the company’s activities and the faculty member’s involvement must be submitted to the Provost’s Office. These applications are reviewed by the Commercial Activities Committee, chaired by the Provost and including members appointed by the Rector. The University reserves the right to set specific conditions for permitting involvement in a company.
The Commercial Activities Committee has to ensure that:
– the faculty member’s involvement in the company does not create any conflict of interest for any of the parties involved,
– the company’s activities do not adversely affect the University’s academic and educational goals, finances, or reputation.
Furthermore, the Committee investigates whether:
– the University’s resources, facilities, staff, or students will be used for any company work,
– the faculty member’s involvement in the company will interfere with the their academic duties and obligations to the University,
– any resources from externally funded research projects within the University will be used for any company work.
The Committee may recommend how the University is compensated for any of these. If the faculty member spends time on company business, the Committee may suggest a pay adjustment to compensate for reduced academic work.
Faculty members who receive permission for company involvement agree that:
– any externally funded research support applications in areas that are related to their academic activities are made through the University only,
– any intellectual property created in relation to their academic activities is managed through the University, unless the University waives its intellectual property rights in writing.
Permissions for commercial company involvement must be renewed every two years.