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LES USA & Canada Rules of Conduct for Members
Licensing Executives Society (U.S.A. and Canada), Inc. (the "Society") is established to encourage and to maintain high standards and ethics in the profession of licensing. In order to enhance and maintain public confidence in the profession of licensing, these Rules of Conduct for Members are adopted.
- Duty to Client/Employer
A Member owes a duty to that Member’s clients or employer to provide competent and professional licensing-related services to the best of that Member's ability.
- Duty to Other Parties
A Member owes a duty to other parties involved in a licensing or other intellectual property transfer transaction not to misrepresent, or knowingly omit, material information with regard to the transaction including negative information related to the transaction. Representations as to value, performance, or reliability of licensed subject matter must be supported by fact; statements not supported by fact must be identified as opinion.
- Conflicts of Interest
A Member must not represent, or provide services to, multiple parties in a licensing-related or other intellectual property transfer transaction, without express consent of each of those parties. A Member must disclose to parties in a transaction whether the Member has a personal financial interest in the subject matter being licensed or transferred. A Member must avoid undisclosed conflicts of interest or appearances of a conflict of interest with regard to services provided to a client or employer including, but not limited to, interests that are adverse to the client or employer and existing obligations of confidentiality to other parties that are inconsistent with providing professional services to the client or employer.
- Confidential Information
To the extent permitted by law, a Member must not disclose to other parties, or use for an unauthorized purpose, confidential information received from a client or through an employer with regard to a licensing transaction, until such information is publicly known or until the client or employer consents to disclosure or use. Termination of a client or employee relationship does not relieve a Member of this obligation.
- Use of Society Meeting Facilities and Membership Lists
A Member must not solicit or promote use of the Member's services as a participant in a meeting session, workshop, or other forum organized by the Society including Society Committees, Sectors, and Chapters. A Member may use membership or meeting attendance lists for personal information, but must not use such lists for general solicitation of business.
The Society and its Members do not tolerate discrimination or personal harassment in professional activities based on race, religion, national origin, ethnicity, gender, or sexual orientation.
- Scope of Activity Subject to the Rules of Conduct
For purposes of these Rules of Conduct, conduct of a corporation, partnership, or other entity that is owned, controlled, or managed, at least in part, by a Member may be imputed to such Member.
Any person may submit specific, written information with regard to an allegation of a violation of these Rules of Conduct by a Member to the Chair of the Ethics Committee, who, upon approval by the Executive Committee, will convene the Ethics Committee to make a preliminary investigation of the allegation. If the Ethics Committee decides that the alleged Rules violation requires further action, the Executive Committee will appoint a Review Committee of three or more present or past officers or Trustees (who are not current members of the Ethics Committee) to investigate further the allegation in which known information related to the allegation will be collected. The Review Committee will advise the accused Member of the nature of the allegations and invite the accused Member to submit written statements setting forth additional information relating to the allegation, in accordance with procedures and time limitations determined by the Review Committee. After due investigation of the allegation, the Review Committee promptly will make a recommendation to the Board of Trustees of the Society as to the merit of such allegations. After review of such recommendation and information related to the allegation, the Board of Trustees may expel or otherwise discipline the accused in accordance with the Society Bylaws.
- Compliance with Laws, Regulations, and Rules
A Member must comply with all federal, state, provincial, and local laws and regulations and other ethical rules or standards imposed by membership or status in other professions or organizations, governing conduct of persons engaged in licensing-related services including patent application prosecution, promotion of patents and inventions, accounting and valuation, and transfer of technology. A final determination by a competent authority that the Member has violated such a law, regulation, or rule may be a basis for discipline or expulsion from the Society by the Board of Trustees without use of the procedures set forth in Section 8 of these Rules.