conflict of interest

KON-flikt uv IN-truhst /ˈkɒnflɪkt əv ˈɪntrəst/
nounC1GMATCATUPSC
formallegalcorporate

A situation in which a person is in a position to derive personal benefit from actions or decisions made in their official capacity.

Even the appearance of a conflict can be as damaging as an actual conflict in professional settings.

The story behind the word. From 'con-' (together) and 'fligere' (to strike). It describes two opposing duties or desires smashing into each other.

Word relationships

  • impartiality: Impartiality is the state of being unbiased and having no personal stake in the outcome.

Commonly confused with

  • bias: Bias is a mental inclination; a conflict of interest is a structural situation where personal gain is possible.

Collocations

  • potential conflict of interest
  • disclose a conflict of interest
  • perceived conflict of interest

Idioms & expressions

  • serving two masters

Example sentences

  • "The reporter had a conflict of interest because she was married to the CEO of the company she was investigating." Journalism

Memory hook

A conflict of interest is when your 'Personal' interest 'Conflicts' with your 'Professional' duty. Two hats, one head.

When not to use

Do not use for simple disagreements between friends; it requires a professional or official duty.

Fun facts

  • In many companies, employees must sign a 'Conflict of Interest' disclosure every single year.
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