Ohio Admin. Code 3362-5-27

Current through all regulations passed and filed through December 2, 2024

Section 3362-5-27 - Business enterprise development

(A) Policy

It is the policy of Shawnee state university to encourage the development of new business enterprises in the south-central Ohio region which meet the following criteria:

(1) The enterprise will contribute to the economic development of the region.

(2) It is compatible with the university's existing programs.

(3) It will not subject the university to any significant risk of liability.

(4) It will not directly compete with existing businesses in the region which offer the same services or products.

(B) Mission

The mission of the Shawnee state university business enterprise development program is to provide equipment, advice, and nonmonetary support services to foster economic development in south-central Ohio; provide a test environment for the marketability of new technology or products utilizing the expertise of faculty, staff, and students; create a source of revenue for the university and the university's participating departments; and proved an opportunity for students and faculty to experience the business applications of new products and technology.

(C) Legal restrictions

(1) The constitution of the state of Ohio prohibits the university from entering joint enterprises or owning stock in private enterprises (Article VIII section 4). The constitution encourages the university to assist in the creation of jobs and employment opportunities and to improve the economic welfare of the people of the state through the sale, lease, exchange or disposal of property, structures, equipment or facilities for industry, commerce, distribution, and research (Article VII section 13).

(2) Any project or program sponsored by the university must meet Ohio constitutional requirements. Any questions concerning permissible involvement with private enterprises should be submitted to the university's general counsel.

(D) Implementation

The president may execute this policy through implementing procedures. Any procedures approved by the president will be forwarded to the board of trustees and university senate for informational purposes. This policy will be reviewed periodically with recommendations for changes forwarded to the board of trustees by the president.

Ohio Admin. Code 3362-5-27

Effective: 6/5/2001
Promulgated Under: 111.15
Statutory Authority: 3362.03
Rule Amplifies: 3362.03