conflict of interest

(redirected from conflicts of interest)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Wikipedia.

conflict of interest

A situation that presents the possibility of having to choose which side in a transaction will receive the better service, deal, terms, or representation.The conflict may be choosing between two other parties,such as an agent attempting to represent both buyer and seller in a particular transaction,or it may be between the party and another,such as a real estate broker wishing to purchase property listed with that same broker.Rules regarding handling conflicts of interest generally provide a solution through full disclosure to all parties involved or withdrawal from the situation entirely.

References in periodicals archive ?
The highest standard, and the one that would engender the most confidence, is elimination of financial conflicts of interest.
The series of policies, rules, and guide Lines issued since 2000 vary in their provisions, details, and, importantly, in their exceptions, but they all have one thing in common: ALL four of those issued as of this writing detail greater responsibility and heightened scrutiny in reviewing potential conflicts of interest for the research institution, the clinical investigators, and any other clinical investigators, including those from the healthcare and pharmaceutical industries.
Policy on Committee Composition and Balance and Conflicts of Interest.
Here are four other types of conflicts of interest that may arise in your company:
Conflicts of interest can arise at any time during the client service process.
Managing conflicts of interest is a fundamental part of good governance, and LOCs in particular have become far more focused in this area.
College-level audiences receive details on identifying, limiting and managing conflicts of interest through short-term actions and long-term programs by institutions and individuals alike, and makes recommendations on risk prevention and structure which are key to any college-level collection strong in medical ethics debates.
Organizations have expressed concern for the effects of conflicts of interest on research (5), publication (1,6,7), teaching (8) and continuing medical and nursing education (9).
This report form the Institute of Medicine of the National Academies examines conflicts of interest in medical research, education, and practice and in the development of clinical practice guidelines by reviewing the evidence on the extent of industry relationships with physicians and researchers and their consequences and describing current policies intended to identify, limit, or manage conflicts of interest.
What do we really know about conflicts of interest in biomedical research?
The Department of Health and Human Services' (HHS) Food and Drug Administration (FDA) has been criticized about how it recruits individuals to become members of its advisory committees and how it grants some determinations that allow members with conflicts of interest to participate in committee meetings.