Faculty ethics are considered in relation to conflict of interest between academic work and nonacademic consulting jobs, confidentiality of research, the employment of faculty by intelligence agencies, and the need for self-regulation by the academic community. For faculty members who serve as consultants, ethical issues arise concerning the use of university facilities, time, and resources in connection with outside commitments. Researchers who initiate or orient their research to meet the sponsoring agency's need without notifying the university and the sponsoring agency face potential ethical conflicts. A researcher involved in government-sponsored research who also serves as a consultant to a federal agency faces potential conflict of interest, as does the faculty member who transfers from an academic setting to the government and back again. Campus-based and free-standing research groups face an ethical dilemma in the conduct of their research: basic intellectual and scientific values require them to publish their findings, but ethical obligations to research sources and other considerations may necessitate that some data be kept confidential. Faculty members face ethical dilemmas when they have a covert relationship with the CIA on the campus or abroad. Since ethical codes may be difficult to develop and implement, it is suggested that the academic community has an obligation to foster forums to consider the development of guidelines that address faculty's ethical concerns. (SW)