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Rules of Conduct
To promote and establish the professional standing of members of this Society and enhance the trust of the public in members of this Society, the following rules of conduct are adopted. For the purposes of these rules of conduct, the conduct of a corporation, partnership or other entity which is owned, controlled, or managed at least in part by a member may be imputed to the member. The spirit of these rules should be a proper guide for the conduct of its members to establish confidence of the public in the profession of licensing.
Obligation Under Other Rules of Ethics
The duties imposed by these rules of conduct shall be in addition to the rules of conduct imposed by membership or status in other professions or organizations.
Duty to Client/Employer
Each member owes to his or her client/employer full and candid disclosure of his or her judgment and opinion as to potentially licensable properties and any markets therefor, including therein full disclosure of the nature and extent of any market, engineering, or other studies and degree of reliability of any studies underlying such judgment and opinion.
It is the duty of every member of this Society to make a fair representation as to the nature, quality, and extent of the subject matter being licensed. Puffing and exaggeration have no place in the licensing or sale of intellectual property. Representations as to performance, reliability, or value should be supported by fact, and any statement that is not supported by fact should be identified as opinion. Members shall not withhold, prior to or during licensing negotiations, basic information of a negative nature, whether requested or not.
It is unprofessional to represent both parties involved in the licensing or sale of intellectual property or to represent conflicting interests in the same transaction without the knowledge and express consent of both parties involved. Prior to accepting employment with a client, it is the duty of a member to disclose any interest that might be adverse to a client.
Interest in the Subject Matter Being Licensed
It is the duty of a licensing professional to disclose the fact that he or she has an interest in the subject matter being licensed.
It is the duty of a member of this Society to respect and hold inviolate the confidences of a client. In the absence of other agreement with the client, termination of the employment with the client will not terminate this obligation, but the duty is relieved by the fact that the information given in confidence is generally known. In the event that confidences of a previous client prevent him or her from fully discharging duties to the subsequent client, the member shall immediately notify the subsequent client of such disability.
Advertising and Solicitation
A member in personal conduct and in contacts with the public and clients should not behave in a manner that brings discredit on the Society or the member. In particular a member should not use any business card, letterhead, directory listing, advertising material or any other form of communication which is undignified or which is false, deceptive or misleading or likely to create false or exaggerated expectations as to the skill, experience or ability of such member or the value or cost of the services or facilities offered or as to the results to be accomplished through such services or facilities.
The Society may use the information collected in my completed membership form ("information") for the following purposes: to provide notices and information about the Society, its activities and meetings, to me through mail, fax, e-mail, or other mode of communication; to publish my information in its membership directories, available in hard copy, electronic and otherwise; to publish my information in the Society's meeting/function attendance lists; and to maintain my information in the Society's databases for use by Society in furtherance of its activities. The Society will not sell my name or address, but may exchange information lists with organizations of like interests. The Society has a privacy officer. I may contact the privacy officer to find what information the Society has about me in its files. The information is retained while I am a member and for three years thereafter. The membership and attendance lists are the property of the Licensing Executives Society (U.S.A. and Canada), Inc., and are entrusted to Society members for their personal information only. Reproduction of such lists is not authorized and their use for general mailings or similar purpose, including use as a general mailing list for invitation to functions at Society meetings not specifically authorized by the Society or as a general mailing list for business solicitations, is unethical.
Any charge of violation of these rules of conduct or any other disciplinary charge within the scope of business of the Society shall be made by presenting in writing specific information relating to such charge to the Chair of the Ethics Committee, who, if deeming it appropriate, shall request approval by the Executive Committee of the makeup of a subcommittee of at least three members of the Society, and, upon such approval, shall cause such subcommittee to make a preliminary investigation of the information relating to the charge, to make a report summarizing the information known to the subcommittee and to make a recommendation to the Ethics Committee. If in the opinion of the Ethics Committee further action is appropriate, the Executive Committee shall appoint a Review Committee of three or more present or past officers or Trustees to consider the charges and make recommendations to the Board of Trustees which shall have power to expel or otherwise discipline the accused. The accused shall be notified in writing by the Review Committee of the nature of the charges and shall have the right to submit a written answer thereto in accordance with such procedures and time limitations as such committee shall prescribe.
Compliance with Laws and Regulations
It is the duty of each member of the Society to comply with all federal, state, and local laws and regulations and all rules of conduct imposed upon the member by membership in other professional organizations, governing the conduct of persons engaged in licensing, processing of patent applications, promotion of patents and inventions or transfer of technology; and a final determination by a competent authority that the member has violated any such law, regulation, or rule may be a basis for discipline or expulsion from the Society by the Board of Trustees without compliance with the enforcement procedures set forth in Section 9 of these Rules.