Ownership of Outside Company Guidance

Owning a company outside of the university can allow for personal and professional growth, strengthening of competence through professional experience, and enhance the reputation of the employee. Conflicts of interest and conflicts of commitment may occur if there is a divergence between an individual's private interests and their professional responsibilities at GW. The following guidance should be followed to avoid a conflict of interest or commitment.

Commitment

Any work related to the outside company should be conducted on personal time. Outside professional activities should not interfere with the performance of the individual's regular duties and time commitment to the university.

Competition

Individuals should not compete with the university for work that is perceived as being work that the university would chose to perform. The university should not be deprived of appropriate potential financial gain in favor of personal gain.

University Resources

Individuals should not use university personnel, equipment, or services for personal gain except incidental, reasonable use as referenced in the Personal Use of University Resources Policy.

GW Business

Within the scope of one's professional responsibilities at GW, the individual should not be involved in any negotiations or procurement decisions related to their company. An individual's company will be added to the university's vendor watch list and any university transaction with the company will be reviewed to check that they are approved be someone other than than the individual, or their subordinate, with appropriate authorization.

Research

If an opportunity arises to participate in university research involving the company, the Office of the Research Integrity should be contacted before initiating. A potential conflict of interested will be reviewed in the context of the proposed research and a research conflict of interest management plan may be required. 

Disclosure and Oversight

Individuals should disclose their outside company to their supervisor and the Office of Ethics, Compliance, and Risk at complygwu [dot] edu (comply[at]gwu[dot]edu) who can help ensure that a conflict of interest nor conflict of commitment develops. If a situation arises that has the potential of becoming a real or perceived conflict of interest or conflict of commitment, the Office of Ethics, Compliance, and Risk should be contacted. A plan to mitigate, manage, or eliminate conflicts may be developed as needed.