Can university lecturers set up a private commercial company whilst still doing the day job?

Baby boomer

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Generally, yes. In fact, it's even encouraged in many cases where it dovetails with research interests. Typically, there's a code of conduct, rules around conflicts of interest, and a requirement to disclose and perhaps get permission.
 

Purple

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Generally, yes. In fact, it's even encouraged in many cases where it dovetails with research interests. Typically, there's a code of conduct, rules around conflicts of interest, and a requirement to disclose and perhaps get permission.
Doesn't the University/College usually have a commercial interest in any such company?
 

Baby boomer

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Doesn't the University/College usually have a commercial interest in any such company?
Yeah, joint venture arrangements are pretty common especially in Tech and Pharma, but you'll find lots of different models. For instance, some companies will sponsor a professorship or lectureship, sometimes there's access to commercially sensitive, cutting edge research and know how. Sometimes it's secondments from industry to academia and/or vice versa. Sometimes it's graduate student placements. Whatever works, I suppose. But most colleges are keen for their academic staff to get their hands dirty in the real world!
 

Purple

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Yeah, joint venture arrangements are pretty common especially in Tech and Pharma, but you'll find lots of different models. For instance, some companies will sponsor a professorship or lectureship, sometimes there's access to commercially sensitive, cutting edge research and know how. Sometimes it's secondments from industry to academia and/or vice versa. Sometimes it's graduate student placements. Whatever works, I suppose. But most colleges are keen for their academic staff to get their hands dirty in the real world!
In my limited experience what were the RTC's are much more engaged with Irish Companies. UCD, Trinity etc really only want to deal with the larger MNC's.
 

Laughahalla

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I presume this is ok with them.
Common practice in some educational institutions . Especially med and tech type commercial business.

Even including property purchases made by lecturers leasing back to the educational institution they work for.

On the face of it looks like there could be a conflict but I'm sure it's all above board
 
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