Conflict of Interest meaning: A situation that has the potential...

Conflict of Interest meaning:

1. A situation that has the potential to undermine the impartiality of a person because of the possibility of a clash between the person's self-interest and professional interest or public interest.
2. A situation in which a party's responsibility to a second-party limits its ability to discharge its responsibility to a third-party.

Example : “A” had shares in company “B” and “B” had contract with company  “C” now “A” worked for company  “C” so therefore any statements “A” made to other shareholders in respect to “B” and “C” could be classed as a conflict of interest.

Now “A” was approached by the company (he or she) worked for “C” and the company made a deal with “A” The deal was that (he or she) would make statements about company “B”  to other shareholders, that we needed change, because company “B” was not doing their job, in the hope that shareholders would agree with (him or her) , but all so claimed to have proof that they were not doing their job, but was never forthcoming with that prove,  but also claimed that (he or she) had lost a lot of money and just want a fair deal for all shareholders, but what the shareholders were not aware of, was it did not matter about how much (he or she) had lost, company “C” would cover the loss, now this could be classed as conflict of interest  for financial gain.

Note the above example is all hypothetical or in some cases may ring true in some situations.

I am only posting this, so that you will all question any statements made here and in the hope that you will all do your own research, for the true facts and not believe statements that do not have the prove to back them up OK.

Have a nice day everyone!

Cat