ABSTRACT
Individuals, firms, government agencies, and non-profit organizations often seek out academics for advice and analysis related to their areas of research and teaching expertise. Outside consulting by academics can be rewarding financially and otherwise, but consulting also raises important ethical issues related to conflicts of interest and prior duties to provide diligent research, teaching, and service to the institution and profession they represent. Career advancement in the Academy depends substantially on the ability to publish high-quality basic research and attract high-value grants from conventional sources such as government agencies and foundations. Faculty pursue neither basic research with general application nor applied research in a specific industry. Purists do not necessarily seek out industrial partnerships. Purists do not engage private firms as clients in purely commercial consulting. Consulting raises many issues for faculty no matter their purist, industrialist, or opportunist profile.
