1. Policy Statement

Rajagiri College of Management and Applied Sciences encourages its faculty and staff to engage in consultancy projects that leverage their professional expertise, enhance the college’s reputation, and contribute to the broader community and industry. This policy outlines the framework for undertaking consultancy work, including the distribution of consultancy income, which aims to support the professional development of staff and the strategic goals of the college.

2. Purpose

The purpose of this policy is to:

1. Provide clear guidelines for engaging in consultancy projects.
2. Outline the distribution of income generated from consultancy work to ensure fairness and transparency.
3. Encourage staff to contribute their expertise to the industry while benefiting professionally and financially.

3. Scope

This policy applies to all faculty and staff of Rajagiri College of Management and Applied Sciences engaging in consultancy work.

4. Consultancy Work Guidelines

1. Approval and Registration: All consultancy projects must be approved and registered with the designated college authority to ensure they align with the college’s interests and policies.

• Conflict of Interest: Staff must declare any potential conflicts of interest, ensuring consultancy work does not impede their primary responsibilities towards the college.

• Intellectual Property: Rights to intellectual property generated from consultancy work shall be defined in accordance with the college’s Intellectual Property Policy.

5. Distribution of Income from Consultancy

The income generated from consultancy projects will be distributed as follows:

1. 60% to Staff: The individual(s) directly involved in the consultancy project will receive 60% of the net income as an incentive and recognition of their professional contribution.
2. 40% to College: The remaining 40% will be retained by the college to support administrative costs, infrastructure development, and academic initiatives.

6. Responsibilities

1. Staff: Ensure compliance with all policy requirements, including timely reporting and financial accountability for consultancy projects.
2. College: Provide support in terms of administrative processes, legal advice, and necessary resources to facilitate consultancy work.

7. Monitoring and Reporting

Regular monitoring and reporting mechanisms shall be established to ensure transparency and accountability in the conduct of consultancy projects and the distribution of income.

8. Amendments to the Policy

This policy is subject to periodic review and amendment to reflect changes in regulatory requirements, college objectives, and feedback from staff and stakeholders.