ProUroCare Medical Inc. has a policy of requiring adherence to the highest ethical standards in all its dealings with customers, vendors, employees and stockholders. Ethical behavior contemplates the principles of morality, fairness and respect.
Ethical lapses are not a shortcut to profitability. Unimpeachable ethical conduct is absolutely consistent with financial success and business excellence.
Compliance with law or strict adherence to a contract is not equivalent to fair dealing. The desirable business practice is to have all contractual terms favor the company but deal in a manner that commands respect within the business community.
Every employee of the company has the right to expect that compensation and advancement opportunities will be determined solely by his/her capability, personal performance and contribution.
Firm and aggressive negotiation on behalf of the company is consistent with this policy.
Dealings with relatives or friends, whether customers, vendors or employees, have the appearance of being a conflict of interest, and such dealings are generally to be avoided. Where such a situation is considered to be in the company’s interest, the review and active participation of the related party’s supervisor is required.
Nowhere is adherence to ethical standards more important than in dealing with vendors and service providers to the company. The enrichment of an employee by a vendor to the company is an absolute ethical lapse. Such a lapse could result in immediate termination without notice. There is no way to successfully assert that an employee’s business judgment has not been affected by such transactions.
Since the conduct of an organization reflects that of its leadership, the obligation to comply with this policy weighs most heavily on the company’s management.
The ethical test of an action is how it will be judged when all of the relevant facts are fully disclosed to all interested parties.
Even the appearance of a conflict of interest is to be avoided.
If there is ever a situation in which it is not clear whether a conflict exists, an employee of the company should discuss the matter with anyone in management, including corporate officers. A consensus of peers does not relieve an individual of the personal responsibility to comply with the company’s Ethics Policy. If an employee becomes aware of behavior of another which violates this policy, the violation should be reported to a manager in the company, an officer of the company or the Board of Directors of the company, as appropriate.