1. Managing multiple interests at University of Melbourne

2. Declaring your interests
Conflict of interest (COI) is where there there is lack of alignment between the various interests held by an individual to the extent that one party is disadvantaged, e.g. University and industry partner
The existence of a conflict does not imply wrongdoing on anyone’s part
COIs are to be managed through disclosure, and other processes as required. The disclosure is called a Declaration of Interest.
Mismanagement of COIs is taken very seriously by the University and can lead to reprimand or termination

3. Conflict of interest management
Actual, perceived or potential COIs are to be always be disclosed to your Head of Department or other officer where appropriate
More significant COIs require more than just declaration
Use the ‘7 Rs’ of COI management: Register, Restrict, Recruit, Remove, Relinquish, or Resign
Your Head of Department will decide on an appropriate management strategy with you
For help with determining whether you have a COI or if you want more information about COI management, see the OREI website: Conflict of Interest
In the following slides, we present two theoretical scenarios where a leading researcher has failed to 1) declare their interests, and 2) has disadvantaged the University (inadvertently or otherwise).

4. Background to Scenario 1 – Two hats
Situation
Leading researcher, an employee of the University, becomes a paid advisor to New Co.
Leading researcher constructs and negotiates industry-paid University budgets with New Co in which he/she is a shareholder.
Leading researcher develops a strong and friendly relationship with the investor, thinking the University has been slow to act in driving commercialisation.
Problem
Leading researcher is conflicted.
For example, there may be a temptation to build value in the New Co as the researcher is now a shareholder. That is, he/she constructs a budget for the research that misrepresents the amount of University time spent in consulting to the New Co in order to save the New Co money and build value within the New Co.
Leading researcher has not declared their dual interests to all relevant parties.

5. Scenario 1: Two hats
Research, IP
Funding - $

6. Background to Scenario 2 – Changing Hats
Situation
Leading researcher, an employee of the University, manages a large team of students and researchers in which their work is highly regarded by a large multinational company which is funding some of the research.
Leading researcher is thrilled with the progress but keen to move faster in bringing a product to market. He/she decides to leave the University and work full-time at the Company, whilst maintaining their supervisorial responsibilities at the University.
Leading researcher leaves the University with their laptop containing all University data and contracts to work at the Company in Europe.
Problem
Leading researcher is conflicted.
He/she now has access to all new data generated on all projects via their students who are keen to maintain contact with this leading researcher.
Leading research who is no longer employed by the University is less interested in compliance in the existing University agreements with other companies as his/her new allegiance is to the Company.

7. Scenario 2: Changing hats
Research, IP
Funding - $

8. Importance of safeguards
Solutions and process
Importance of safeguards
Without clear and transparent lines of responsibility and ownership, the issue of IP ownership and commercialisation will always be challenged.
The University seeks to invest its resources in the development of a strong commercial culture within the academy, rather than discover conflicts after they exist.
Solution/s
Lead researcher should have declared their interests in writing to the Head of Department.
The lead researcher must recuse themselves from discussions on budgeting (within reason) and make honest representations of their time commitment to the Company.
The lead researcher is to identify opportunities for new IP at the earliest opportunity to the University via the Invention Disclosure process.
The lead researcher may have to relinquish their role as supervisor of the PhD student, depending on details of the arrangements.

9. What can you do? Why?
Remember, basic research remains the soul of an elite research institution
But, if you do want to consider a commercialisation pathway:
Look backwards from where you want to go
Ask yourself, am I approaching VOD#1? How do I navigate?
Target experiments to key proof of principle milestones
Ask yourself - Am I getting good commercialisation advice? Do I have a Conflict of Interest?
Identify prospective partners …
Set aside 1-2 hours each week to consider mapping your commercialisation pathway