Faculty Reports - Content
nType of activity
nWhether the activity is compensated
nDuration/time requirements
nExplanation of any potential conflict of interest or commitment
nWhether the activity involves the use of University facilities, resources, personnel (including students) or other commitment and whether appropriate procedures have been followed
Use of students in outside activities deserves special attention and should include a record of joint activities

Generally – students should not be employed on Sponsored Projects where the PI has a financial interest in the sponsoring company.  In cases where a student is involved in research sponsored by a company-funded agreement, the research agreement should state that the presentation of results will not be controlled by the company (or similar non-limiting language related to publication)

Note:  That there is no requirement to tell amount of compensation