On June 24, Jamey A. Wachta presented on the AUTM webinar, “The Consulting Conundrum: Balancing Faculty Expertise, Industry Engagement, and Institutional Integrity.” The program explored the growing trend of life sciences faculty engaging in industry consulting, including both the opportunities and risks these relationships present. Jamey and fellow panelists highlighted issues with consulting agreements across medical and public health schools that can lead to conflicts of interest, research integrity, and institutional intellectual property rights issues. They discussed strategies and practical solutions to balance the benefits of individual consultants with the need for policies that protect academic and institutional interests.

“Consulting agreements are widely used in the life sciences field and can be valuable tools to both faculty and institutions in advancing medicine, science, and technology,” said Jamey. “Our goal is to highlight the benefits and risks associated with different types of consulting agreements available to faculty and provide them with assistance to ensure that such agreements  are not only compliant with institutional policies, but also that they protect both the institution and the faculty consultant.”

AUTM is a non-profit leader in efforts to educate, promote and inspire professionals to support the development of academic research that changes the world and drives innovation forward. Their community comprises more than 3,000 members who work in more than 800 universities, research centers, hospitals, businesses and government organizations around the globe.

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James “Jamey” A. Wachta