A conflict of interest (COI) is a situation in which a person or
organization
An organization or organisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, -ize (-isation, -ization), see spelling differences) is an legal entity, entity—such as ...
is involved in multiple
interests,
financial
Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...
or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to
make decisions for the benefit of a third party.
An "interest" is a commitment, obligation, duty or goal associated with a specific social role or practice. By definition, a "conflict of interest" occurs if, within a particular decision-making context, an individual is subject to two coexisting interests that are in direct conflict with each other ("competing interests"). This is important because under these circumstances, the decision-making process can be disrupted or compromised, affecting the integrity or reliability of the outcomes.
Typically, a conflict of interest arises when an individual occupies two social roles simultaneously, generating opposing benefits or loyalties. The interests involved can be