Conflict of Interest
Type: noun
Pronunciation: /kon-flikt-uhv-in-ter-est/
Also spelled or known as: COI
Plural: Conflicts of Interest
Related: Fiduciary Duty, Ethics
What does Conflict of Interest mean? A situation where an individual or organization’s private interests or personal relationships clash with their professional duties.
In the music industry, conflicts of interest may arise when managers represent competing artists, executives have undisclosed financial interests, or professionals receive undisclosed compensation from multiple parties involved in the same transaction.
Conflict of Interest synonyms: COI, Competing Interest, Conflicting Interest
Example sentence: “The attorney disclosed a potential conflict of interest before representing both parties.”
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