Apple 2003 Annual Report Download - page 150

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not mean, however, that family members are precluded from being employed by one of Apple’s customers, competitors, or suppliers.
Corporate opportunities. Apple employees must not exploit for their own personal gain opportunities that are discovered through the use of
Apple property, information, or position unless the opportunity is disclosed fully in writing to Apple’s Board of Directors and the Board of
Directors declines to pursue the opportunity.
Projects or inventions.
Before beginning work on any project or invention, outside the course and scope of an employee’
s work for Apple, that
will involve any Apple time, equipment, or materials, or that relates to Apple’s present or reasonably anticipated future business, Apple
employees must receive the written permission of the Apple Senior Vice President for their organization.
Investments.
Passive investments of not more than one percent of total outstanding shares of companies listed on a national or international
securities exchange, or quoted daily by NASDAQ or any other board, are permitted without Apple’s approval, provided the investment is not
so large that it creates the appearance of a conflict of interest, and provided it does not involve the improper use of confidential or proprietary
information.
Market intelligence.
Though market intelligence is important, only authorized Apple employees should obtain it, and only in straightforward
ways. Apple and its employees must never accept or use information otherwise presented. Apple employees may not contact competitors for
market intelligence.
Family.
Apple employees should avoid conducting Apple business with members of their families (and others with whom they have
significant relationships) in another company or business, unless they have prior written permission from the Apple Senior Vice President for
their organization. Apple employees must avoid a direct reporting relationship within Apple with any member of their family or others with
whom they have a significant relationship. Apple employees must also avoid any direct or indirect financial, business, consulting, or other
relationships that could cause divided loyalty, unless the employee has first obtained written permission from the Apple Senior Vice President
for his or her organization.
Tips, gifts, and entertainment. Apple employees must not give or receive valuable gifts, including gifts of equipment or money, discounts, or
favored personal treatment, to or from any person associated with Apple’s vendors or customers. Such gifts (including advertising novelties,
favors, and entertainment) are allowed only when the following conditions are met:
•
They are consistent with our business practices.
•
They are of limited value (US$100 or less).
•
They do not violate any applicable law.
•
Public disclosure would not embarrass Apple.
•
They are not given to any government personnel (see the “Dealing with government contracts” section, below).
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