MIT policy requires that MIT officers, faculty, and staff and others acting on its behalf avoid, ethical, legal, financial, and other conflicts of interest and ensure that their activities and interests do not conflict with their obligations to MIT. Disclosure of financial interests enables MIT to determine if a financial interest creates a conflict of interest or the appearance of a conflict of interest.
The existence of a conflict or the appearance of one does not imply wrongdoing and does not necessarily mean that a researcher may not retain his or her financial interest and undertake the affected research. Often MIT can work with the researcher to manage a conflict or the appearance of a conflict so that the research can continue in a way that minimizes the possibility of bias and preserves the objectivity of the research. Proper management depends on full and prompt disclosure.
My COI, in Coeus Lite, provides the ability to disclose and maintain your Significant Financial Interests; identify potential areas of concern related to your proposals and awards; and, disclose reimbursed travel (for NIH compliance).