Conflict of Interest
Conflict of Interest
Conflict of Interest (pronunciation: /ˈkɒnflɪkt ɒv ˈɪntrɪst/) is a term used in several fields, including medicine, law, and business, to describe a situation where an individual or organization might be influenced by a secondary, competing interest. It is often considered unethical and can lead to a breach of professional conduct.
Etymology
The term "Conflict of Interest" originates from the Latin words 'confligere', meaning 'to strike together', and 'interesse', meaning 'to concern'. It was first used in legal contexts in the 18th century to describe situations where a person's private interests could potentially interfere with their professional duties.
Related Terms
- Ethics: The moral principles that govern a person's behavior or the conducting of an activity.
- Professional Conduct: The manner in which a person behaves while carrying out their professional duties.
- Secondary Interest: An interest that could potentially interfere with a person's primary professional responsibilities.
- Unethical: Not morally correct.
In Medicine
In medicine, a Conflict of Interest can occur when a healthcare professional's judgement regarding a primary interest, such as patient care, is influenced by a secondary interest, such as financial gain. This could potentially lead to unethical behavior and a breach of professional conduct.
In Law
In law, a Conflict of Interest can occur when a lawyer's duty to a client is compromised by a secondary interest. This could potentially lead to a breach of the lawyer's professional responsibilities and ethical standards.
In Business
In business, a Conflict of Interest can occur when an employee's personal interests interfere with their professional responsibilities. This could potentially lead to unethical behavior and a breach of the company's code of conduct.
External links
- Medical encyclopedia article on Conflict of Interest
- Wikipedia's article - Conflict of Interest
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