Financial ties were defined to include direct corporate sponsorship of research, investigators with stock ownership, equity, patent royalties, consulting fees, honoraria, service on boards of directors or scientific advisory boards, and institutional ties such as the researcher's university having equity in a company funding the research.
The law will require data reporting beginning in January 2013, including stock options, royalties, consulting fees, honoraria, education, research grants, meals, gifts, entertainment, and travel.
Dr. Burkus, who practices in Columbus, Ga., and Dr. Zdeblick, a professor at the University of Wisconsin, have each received millions of dollars from Medtronic in consulting fees or royalty payments.
The Senate finance inquiry, which reviewed internal Medtronic documents, found that the company paid about $210 million from 1996 to 2010 in consulting fees, royalties and other payments to doctors involved in outside research on Infuse.
He claims that $7 million of consulting fees, royalties and wholesale revenues came in last year.
We examine commonly observed forms of payment, such as milestones, royalties, or consulting contracts as ways of engaging inventors in the development of licensed inventions.
Royalties and consulting income, in particular, tend to be paid directly to the investigator and not to the laboratory.
SportsLine notes in its prospectus that it has entered into various licensing, royalty and consulting agreements with "content providers, vendors, athletes and sports organizations," and SportsLine will have to pay for these agreements.
Drs. Mondello, Papa, Buki, Bullock and Czeiter are consultants of and received consulting fees from Banyan Biomarkers, Inc.; Drs. Wang and Hayes own stock, receive royalties and salaries from, and are officers of Banyan Biomarkers Inc., and as such may benefit financially as a result of the outcomes of this research or work reported in this publication.
