conflict of interests

Gen Mgt
a situation in which a person or institution is caught between opposing concerns, loyalties, or objectives that prejudice impartiality. A conflict of interests may be between selfadvantage and the benefit of an organization for which somebody works, or it could arise when somebody is connected with two or more companies that are competing. The correct course of action in such cases is for the person concerned to declare any interests, to make known the way in which those interests conflict, and to abstain from participating in the decision making process involving those interests. A conflict of interests may also arise when an institution acts for parties on both sides of a transaction and could derive an advantage from a particular outcome.

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Look at other dictionaries:

  • conflict of interests — A situation that can arise if a person (or firm) acts in two or more separate capacities and the objectives in these capacities are not identical. The conflict may be between self interest and the interest of a company for which a person works or …   Big dictionary of business and management

  • conflict of interests — конфликт интересов, ситуация, при которой лицо, имевшее определенную связь с одним или несколькими участниками арбитражного спора или его предметом, не может поэтому считаться в должной степени независимым и беспристрастным (см. independence),… …   Glossary of international commercial arbitration

  • conflict of interests — situation in which a person has two different personal situations which could cause problems together …   English contemporary dictionary

  • declare a conflict of interests — declare an interest/a conflict of interest(s) ► to say publicly that you could gain a personal advantage from a situation and so might not be able to make decisions that are fair and honest: »The Mayor was advised to declare a potential conflict… …   Financial and business terms

  • declare an interest/a conflict of interests — declare an interest/a conflict of interest(s) ► to say publicly that you could gain a personal advantage from a situation and so might not be able to make decisions that are fair and honest: »The Mayor was advised to declare a potential conflict… …   Financial and business terms

  • conflict of interest — con·flict of interest / kän ˌflikt / 1: a conflict between the private interests and the official or professional responsibilities of a person in a position of trust 2: a conflict between competing duties (as in an attorney s representation of… …   Law dictionary

  • conflict — ► NOUN 1) a serious disagreement or argument. 2) a prolonged armed struggle. 3) an incompatibility between opinions, principles, etc.: a conflict of interests. ► VERB ▪ be incompatible or at variance with. DERIVATIVES conflictual adjective …   English terms dictionary

  • Conflict of Interest (disambiguation) — For conflict of interests held by an editor writing in Wikipedia, see Wikipedia:Conflict of interest. Conflict of Interest or Conflict of Interests may refer to: For conflict of interests generally, see conflict of interest. Conflicts of Interest …   Wikipedia

  • conflict — {{Roman}}I.{{/Roman}} noun 1 fight/argument ADJECTIVE ▪ great, major ▪ bitter, brutal, serious, violent ▪ escalating, increasing …   Collocations dictionary

  • conflict of interest — noun a situation in which someone s private interests could conflict with their obligations, such as by being personally advantaged by knowledge gained through public office. Also, conflict of interests …   Australian English dictionary

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