Example of a Significant Financial Interest and Potential Conflict of Interest Proposal Narrative

The following is a one paragraph example of a significant financial interest and potential conflict of interest description that could be inserted into a proposal narrative.

Financial Disclosure

The University of Maine is the owner of patents developed by Professor Hugh X. Warren and other University of Maine inventors. The patents will be further explored (or developed, as the case may be, according to the research scope of work) as part of the research contemplated in this proposal. The University of Maine, Professor Warren, and the other inventors have equity interests in the licensee of these patents, QUIET ENERGY, LLC. Professor Warren and the other University-based inventors have developed, or are developing, Conflict of Interest Mitigation plans that manage or eliminate the conflict. These plans will be in place and approved prior to execution of any award by the University. Adherence of project personnel to these plans will be monitored by the University’s Vice President for Research.