The vitality and integrity of biomedical research are critical to the health of the public and to finding the keys to addressing some of society’s most compelling and difficult challenges. In the United States, universities and medical schools, the dominant source of this research, are now more than ever key components of the social, economic and scientific forces that empower our nation in a globalized economy. The academic research community is increasingly aware of pressures created by these changed societal expectations, particularly those associated with its relationships with industry. A principled partnership between the academic community and industry is essential if we are to realize the promise of biomedical research, but such collaboration can also create serious conflicts of interest. These pressures compel academic institutions to reaffirm their highest values of protecting the integrity of their research, the well being of the human subjects who participate in it, and the trust of the public.