Title

Constitution of Innovative Idea Tank

 

Preamble

Innovative Idea Tank (IIT) provides opportunity for IU students to work collaboratively on developing entrepreneurial ideas and business solutions. Our primary mission is to learn how to innovate and bring our creative ideas to life for real impact. We seek to better prepare students in pursuing their ideas and further participate in a variety of entrepreneurial, case and idea competitions. 

 

Article I: Membership

Innovative Idea Tank allows any interested student to participate in, become a member of, and seek leadership positions in the organization without regard to arbitrary consideration of such characteristics as age, color, disability, ethnicity, gender, marital status, national origin, race, religion, sexual orientation, or veteran status. 

1. Innovative Idea Tank will not have any limitations for membership duration. 

2. Innovative Idea Tank will consist of two classes of membership: Executive Board and Members.

3. All members will have the right to select the President and Vice President. Requirements for Executive Board members will be explained in Article III.  

4. The general members selection process for Innovative Idea Tank are as follows:

 

1. Application Form

All candidates interested in joining Innovative Idea Tank are required to submit an application form. The application form will include a brief description about the applicant such as name, grade, major and intent of application. Their interview times will be notified after the application deadline.

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2. Interview 

Executive board members shall conduct interviews with all applied candidates. The executive board will meet after all interviews are conducted for discussion purposes and will notify the accepted candidates within two days. The acceptance of a candidate will be determined through voting within the executive board members. 

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3. Revocation Process

Any member acting against the “Code of Student Rights, Responsibilities, and Conduct” shall be subject to an immediate executive board meeting for revocation. For any two unexcused absences, the executive board members shall hold a meeting for revocation for the assigned member. The member may be dismissed as a member of the Innovative Idea Tank at the discretion of the executive board. 

 

Article II: University Compliance

Innovative Idea Tank shall comply with all Indiana University regulations, and local, state and federal laws. 

 

Article III: Executive Officers

 

President 

• Overall collaborator of the group 

• Oversee all IIT related activities

• Plan executive board Meetings

• Liaison between all other Indiana University organizations

• For any possible collaborative events with other clubs in the future

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Vice President of Internal Affair 

• Takes attendance, manage membership, and schedule activities related to strengthening membership relationship

• Budgeting and distribution plan over a year horizon

• Provides update to the entire club members

• Manages IIT finance and the SOA account 

• Discusses weekly proceedings with each director 

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Vice President of External Affair 

• Establish communications with local entrepreneurs and start-up businesses

• Helps organize events to be hosted and sponsored by IIT

• Maintains social media presence for organization

• Maintains external website for organization

• Organize and plan for upcoming events (case competition, idea competition, proposal)

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President and Internal/External Vice President Selection Process:

Each candidate shall notify the Internal Vice President in advance and be given the opportunity to speak in front of all members. Members are given voting rights, and the voting will be transparent. The new President and Internal/External Vice President will be announced right after the voting process. Two-thirds of all members must be present, and the new President and the Internal/External Vice President will be selected based on majority vote.     

 

Article IV: Elections

1. Innovative Idea Tank will hold elections towards the end of the spring semester. 

2. All information regarding the election will be provided by the Internal Vice President.

3. Members interested in the executive board must notify the Internal Vice President prior to registering for the position.

4. Election voting shall be by secret ballot and the majority vote of 2/3 of all members shall be necessary to be considered in the position. 

 

Article VI: Advisor

Advisor Responsibilities:

The faculty advisor(s) of Innovative Idea Tank must maintain active communications with the organization. The advisor shall be familiar with the missions of the organization and provide any necessary advice or resources to guide the group. An advisor must pursue the position for at least a semester and may choose to pursue further at his/her convenience. The faculty advisor will meet at least twice in a semester with the executive board members to discuss the proceedings and the future agenda of the club. 

 

Article V: Meetings

Innovative Idea tank will hold regular weekly meetings. The executive board will control the agenda for meetings, which consists mostly of brainstorming, creating and polishing business ideas and plans. The Internal Vice President will be responsible for notifying meetings to all members of the organization. Any additional meetings required will be notified by the Internal Vice President at least a week before. 

 

Article VII: Non-Hazing

Hazing is strictly prohibited. Hazing shall be defined as any conduct which subjects another person, whether physically, mentally, emotionally, or psychologically, to anything that may endanger, abuse, degrade, or intimidate the person as a condition of association with a group or organization, regardless of the person's consent or lack of consent.

 

Article VIII: Dues & Budgets

1. There will be no dues required from members.

2. Budgets and financials will be managed by the Internal Vice President. The Internal Vice President must provide all necessary expense reports to all members when special fees (activities, social events) occur. 

 

Article IX: Finances

There would be no membership fee required for entering the Innovative Idea Tank. The Internal Vice President will be in charge of any financial affairs within the organization. 

Any prize won through competitions, or any revenues generated by ideas from the club must stay within the club and will be used in maintaining the club. The condition of ‘maintain the club’ must benefit all members in the club. Members of any position may be subjected to a revocation process if the finances are used inappropriately. 

 

Article X: Personal Gain Clause

Innovative Idea Tank, if raising funds, shall ethically raise and distribute profits from organizational functions to either the organization or to members who provide a service that directly benefits the organization. Individual members may not receive compensation from for-profit companies if acting as a representative of a student organization. 

 

Article XI: Amendments

Any amendments updated must be notified to all members in the weekly meeting. Two-thirds of the members must be present to vote on an amendment. 

Any ideas from the club will be maintained within the club. In the beginning of the semester’s first meeting, all members will be required to sign an intellectual rights contract.