Conflict of Interest
Definition - What does Conflict of Interest mean?
Conflict of interest refers to the situation where one person has a duty towards more than one individual or a company and they are unable to perform the duties successfully at the same time. A conflict of interest may arise when there is individual benefit or concerns involved and which are not aligned to that of the customers.
Justipedia explains Conflict of Interest
As an example an attorney, a business adviser, realtor, or an accountant can’t come as a representative for any of the two parties involved in a conflict or dispute. Another example is when a public official’s personal interests are opposite to that of their official interests or responsibility.