Conflict of Interest definition: Copy, customize, and use instantly
Introduction
The term "Conflict of Interest" refers to a situation where an individual or entity has competing interests or loyalties that could impair their ability to make impartial decisions. This is often relevant in legal, business, and financial contexts, where personal, professional, or financial interests may interfere with one’s duty to act in the best interest of another party.
Below are various examples of how "Conflict of Interest" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Conflict of Interest" in business transactions
This definition ties "Conflict of Interest" to business dealings.
"Conflict of Interest" means any situation in which an individual’s personal or financial interests interfere with their professional responsibilities or obligations, potentially influencing their actions in a manner not aligned with the interests of the company or its stakeholders.
Definition of "Conflict of Interest" in legal contexts
This definition connects "Conflict of Interest" to legal situations.
"Conflict of Interest" refers to a circumstance where a lawyer, fiduciary, or agent has a personal or financial interest that may compromise their ability to act in the best interest of their client or principal.
Definition of "Conflict of Interest" in public service
This definition links "Conflict of Interest" to public service.
"Conflict of Interest" means a situation in which a public official’s private interests, such as financial or familial connections, may interfere with their ability to carry out their duties impartially and in the public interest.
Definition of "Conflict of Interest" in employment relationships
This definition applies "Conflict of Interest" to employee obligations.
"Conflict of Interest" refers to a situation in which an employee’s personal interests or relationships create a conflict with the responsibilities of their role, potentially influencing their performance or judgment.
Definition of "Conflict of Interest" in financial transactions
This definition ties "Conflict of Interest" to financial dealings.
"Conflict of Interest" means a scenario where an individual or entity has competing financial interests that could impair their objectivity in a financial transaction, such as a person profiting from a transaction they are responsible for overseeing.
Definition of "Conflict of Interest" in healthcare
This definition connects "Conflict of Interest" to healthcare professionals.
"Conflict of Interest" refers to a situation where healthcare professionals, such as doctors or researchers, may have personal or financial interests that could affect their medical judgment or research integrity, thus influencing patient care or study results.
Definition of "Conflict of Interest" in academic settings
This definition links "Conflict of Interest" to academia.
"Conflict of Interest" means a situation where a researcher, faculty member, or administrator’s external interests or financial relationships could interfere with their impartiality in conducting research, teaching, or making institutional decisions.
Definition of "Conflict of Interest" in government contracts
This definition applies "Conflict of Interest" to government agreements.
"Conflict of Interest" means a situation where a government employee or contractor has financial, familial, or other interests that could interfere with their duty to act in the best interest of the public when involved in the contracting process.
Definition of "Conflict of Interest" in corporate governance
This definition ties "Conflict of Interest" to board and executive roles.
"Conflict of Interest" refers to a situation where a corporate officer, board member, or shareholder has competing interests that could compromise their ability to make unbiased decisions in the management or governance of the company.
Definition of "Conflict of Interest" in procurement processes
This definition connects "Conflict of Interest" to procurement.
"Conflict of Interest" means any situation in which an individual or entity involved in the procurement process has personal or financial interests that could affect their impartiality in awarding contracts or making purchasing decisions.
Definition of "Conflict of Interest" in banking and finance
This definition links "Conflict of Interest" to the finance sector.
"Conflict of Interest" refers to any situation in which a financial advisor, banker, or other financial professional has competing interests, such as receiving compensation for recommending certain financial products, which could influence their professional judgment.
Definition of "Conflict of Interest" in corporate transactions
This definition ties "Conflict of Interest" to mergers and acquisitions.
"Conflict of Interest" refers to a scenario where an individual or entity involved in a corporate transaction, such as a merger or acquisition, has a personal or financial interest that may impact their ability to act in the best interests of the shareholders or stakeholders.
Definition of "Conflict of Interest" in investment decisions
This definition applies "Conflict of Interest" to investment professionals.
"Conflict of Interest" means a situation where an investor, investment advisor, or broker has personal or financial interests that could affect their advice or decisions regarding the investment of client funds.
Definition of "Conflict of Interest" in research funding
This definition links "Conflict of Interest" to academic and scientific research.
"Conflict of Interest" refers to circumstances where researchers or institutions have financial or personal interests in a study that may influence the objectivity or integrity of the research findings or results.
Definition of "Conflict of Interest" in judicial proceedings
This definition connects "Conflict of Interest" to judges or legal professionals.
"Conflict of Interest" means a situation where a judge, arbitrator, or legal professional has personal or financial interests in a case, potentially influencing their impartiality in rendering a decision.
Definition of "Conflict of Interest" in public-private partnerships
This definition applies "Conflict of Interest" to partnerships.
"Conflict of Interest" refers to a situation in which an individual or entity involved in a public-private partnership has competing financial or personal interests that could impair their ability to make decisions in the best interest of both parties.
Definition of "Conflict of Interest" in non-profit organizations
This definition connects "Conflict of Interest" to non-profit sectors.
"Conflict of Interest" means a situation where individuals in a non-profit organization, such as board members or executives, have financial or personal interests that may influence their actions in ways that are not aligned with the organization’s mission or goals.
Definition of "Conflict of Interest" in securities law
This definition ties "Conflict of Interest" to securities regulation.
"Conflict of Interest" refers to a situation where a party involved in the sale or purchase of securities has conflicting interests that could impair their judgment and lead to unfair or unethical practices in securities transactions.
Definition of "Conflict of Interest" in professional ethics
This definition links "Conflict of Interest" to professional conduct.
"Conflict of Interest" refers to a situation where personal, financial, or other interests compromise an individual’s ability to act impartially and in accordance with professional standards or ethical obligations.
Definition of "Conflict of Interest" in insurance
This definition applies "Conflict of Interest" to the insurance industry.
"Conflict of Interest" means any situation where an insurance professional, such as an agent or adjuster, has personal or financial interests that could affect their objectivity or actions when handling claims or recommending policies.
Definition of "Conflict of Interest" in the healthcare industry
This definition connects "Conflict of Interest" to healthcare providers.
"Conflict of Interest" refers to any situation in which a healthcare provider or institution has financial or other interests that may affect their medical decisions, such as recommending treatments or procedures in which they have a financial stake.
Definition of "Conflict of Interest" in professional associations
This definition ties "Conflict of Interest" to associations.
"Conflict of Interest" means a situation in which an individual serving in a professional association or industry group has personal or financial interests that may impact their impartiality in decisions affecting the members of the association.
Definition of "Conflict of Interest" in municipal government
This definition connects "Conflict of Interest" to local government.
"Conflict of Interest" refers to a situation where a municipal official or employee has personal, familial, or financial interests that could influence their duties or responsibilities in relation to the governance of the community.
Definition of "Conflict of Interest" in real estate transactions
This definition links "Conflict of Interest" to property dealings.
"Conflict of Interest" refers to a situation where an individual, such as a real estate agent or broker, has a personal or financial interest in a property transaction that could affect their ability to act impartially on behalf of their client.
Definition of "Conflict of Interest" in executive roles
This definition applies "Conflict of Interest" to corporate leadership.
"Conflict of Interest" means a situation where a corporate executive’s personal or financial interests conflict with their fiduciary duties to the company and its shareholders, potentially impairing their decision-making ability.
Definition of "Conflict of Interest" in legal representation
This definition connects "Conflict of Interest" to law firms.
"Conflict of Interest" refers to a situation where a law firm or attorney represents clients whose interests are in opposition to one another, or where their representation of a client could harm their professional integrity.
Definition of "Conflict of Interest" in project management
This definition links "Conflict of Interest" to project oversight.
"Conflict of Interest" refers to a scenario in which a project manager or team member’s personal or financial interests interfere with their duty to manage a project impartially, potentially compromising project outcomes.
Definition of "Conflict of Interest" in research ethics
This definition ties "Conflict of Interest" to research ethics.
"Conflict of Interest" refers to any situation where a researcher’s personal, financial, or professional interests could influence the integrity or outcome of their research findings.
Definition of "Conflict of Interest" in hiring decisions
This definition connects "Conflict of Interest" to recruitment.
"Conflict of Interest" means a situation where an individual involved in a hiring decision has personal or financial interests that may influence their judgment or objectivity in selecting candidates.
Definition of "Conflict of Interest" in venture capital
This definition ties "Conflict of Interest" to investment firms.
"Conflict of Interest" refers to a situation where a venture capital firm’s financial interests or prior investments could influence their decisions regarding funding or supporting new business ventures.
Definition of "Conflict of Interest" in marketing and advertising
This definition links "Conflict of Interest" to advertising industries.
"Conflict of Interest" refers to any scenario in which marketing or advertising professionals are influenced by personal or financial interests in a way that may affect their objectivity or the interests of their clients.
Definition of "Conflict of Interest" in environmental law
This definition ties "Conflict of Interest" to environmental regulations.
"Conflict of Interest" refers to a situation where an individual or entity involved in environmental law has personal or financial interests that may influence their impartiality when addressing environmental concerns or enforcement.
Definition of "Conflict of Interest" in intellectual property
This definition connects "Conflict of Interest" to IP law.
"Conflict of Interest" means any situation where an individual or entity’s personal, financial, or professional interests interfere with their ability to impartially manage intellectual property, such as patents, trademarks, or copyrights.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.