Conflict of Interest
The University of Richmond recognizes and encourages employee involvement in private enterprise. However, certain business or personal arrangements or employment opportunities may constitute a breach of ethical standards, resulting in conflict of interest between the University and the employee.
A conflict of interest may take various forms. It begins when an employee is or may be in a position to influence the University's business, research, or make decisions in ways that could lead to any form of personal gain for the staff member or others closely associated with that University employee.
It is the responsibility of an employee to disclose to his or her supervisor, department head, or appropriate University official any possible conflict of interest at the earliest practicable time. Employees engaged in activities that constitute, or appear to constitute, a violation will be subject to a review and evaluation of these activities by University administration. Failure to disclose conflicts of interest is a serious matter.
The basic standard for dealing with conflicts of interest is simple: If you believe a conflict of interest exists, then treat the situation as if a conflict definitely exists until you have disclosed and resolved the potential conflict with your supervisor, manager, director, or Human Resource Services.