What are the key conditions that I should be aware of before accepting a research award from an external party via a research contract?

Article 5.2 of the University’s “Policy on Research” specifies conditions for accepting a research award, in the form of a grant or other type of legal agreement from an external sponsor, in particular:

Scope (a) The work is consonant with the University educational and research objectives, and the University would itself have supported the research if its own funds were adequate.
Exclusion of funding (b) The University reserves the right to refuse acceptance of any research grants offered by or entering into contracts with any companies as it considers appropriate. As a rule, the University does not accept any research grants offered by or in the name of tobacco companies.
Freedom to publish (c) The agreement, except for the protection of the sponsor’s confidential and proprietary information, does not restrict the freedom to publish and otherwise disseminate the results of research.
Access to technical data (d) The Principal Investigator and other members of the research team will be permitted to retain copies of such data and information for their own academic (but not commercial) use, and that other bona fide researchers should be given access to the data under suitable conditions. Subject to contractual arrangement that the University may have with the sponsor university or organization or the prior agreement of the Research Committee, the University will own the data and other products generated from or purchased for a sponsored project.
Not for publicity (e) The results of sponsored research with the name and/or logo of the University shall not be used for advertising, commercial publicity or other commercial purposes. The name and/or logo of the University shall not be used in any way, whether in the form of written or oral statements, that could constitute or imply an endorsement by the University of any commercial product or its packaging or service, without the prior written approval of the University.