Policies and Procedures
Conflict of Interest
The fundamental values of BioVentures include the highest standards of research integrity and objectivity. Thus, no conflict of interest on the part of academic staff members can be permitted to influence the design, conduct, or reporting of research. A conflict of interest is defined as a divergence of interests away from professional obligations to the Institution or to external sponsors of research or other activities toward an individual’s private or personal interests. Under these conditions, an unbiased observer would find it difficult to determine whether the individual’s professional actions or deeds are determined by personal considerations of gain, financial or otherwise not in the best interest of the Institution and sponsor. Appropriate transfer of technology can make the results of research more quickly available for the good of the public and can assist the State in commercial development and expansion of its economic base. Accordingly, efforts to commercialize or otherwise make quickly and widely available the results of new knowledge are encouraged. In particular, a conflict of interest exists in, but is not limited to, situations where a Significant Financial Interest could directly and significantly affect the design, conduct, or reporting of research.
How Intellectual Property is Managed by BioVentures, Licensees, and Inventors
BioVentures’ strives to maximize the industrial interactions for UAMS by developing commercial partnership to facilitate technology transfer, create startup biotech companies, and improve Arkansas’ economic development. BioVentures is the hub connecting UAMS’ basic research to the global life sciences industry. After an inventor files an Invention Disclosure Form, the Patent and Copyright Committee meet with the inventor to discuss the technology and its merits. The Committee considers patentability, research value, commercialization potential, and eventual end benefit to science and to the community at large. The Patent and Copyright Committee vote whether BioVentures will decide which type of intellectual property protection (Patent, Trademark, Copyright, or even Trade Secret) is most appropriate for the technology if the Committee decides to move forward with the technology. If the Committee does not move forward with the technology, the rights to the technology are given to the inventors (unless a research funding sponsor has first rights). BioVentures then oversees the pursuit of intellectual property protection (Patent Prosecution or Copyright/Trademark filing). The intellectual property, even if still pending, is then either licensed to an established company for further development or becomes the basis of a BioVentures company where it can be developed and commercialized from the Business Incubator arm of BioVentures. Patenting, Technology Transfer and Commercialization Workshops are available for you or your department, please call BioVentures (686-6696) to schedule this opportunity.