For example, your corporation needs a catering company for their conference. You suggest a company owned by your wife. The fact that you might make money off of your wife’s company being selected represents a conflict of interest and should be disclosed to the selection committee.
For example, teachers and professors may have a student who is related to them. The teacher cannot show favoritism to this student. If your office needs a new roof, it may be a conflict of interest if you suggest your brother as a roofer. A new position may have opened up at your company. It may be a conflict of interest to promote your boyfriend to the position, especially if your boyfriend is less qualified. However, this is not true if your boyfriend is equally qualified for the position compared to the other candidates.
If you are a researcher, a company may hire you to do a study for them. Because they are paying you, you may feel pressured to change your results so that they favor the company’s products. The conflict arises when the report is provided to others without disclosing the relationship. For example, a CPA has responsibilities to the public that over-ride the client’s interests. If you are starting a side business, it should not offer the same products or services as your main employer unless you have received approval from the employer to do so. As a consultant, you should not offer services to two competing businesses unless you have disclosed that to the companies.
For example, your business may be contracted by a non-profit to which you belong. Accepting the contract may be seen as a conflict of interest as you would be offering your services for your benefit only. Even if the contract would only contribute minimally to your sales, and you are offering your services as a favor, you should still disclose the potential conflict.
Many business require employees to fill out a conflict of interest form once a year to announce these interests. If your company does not currently require this, you may want to create such a policy and add it to the employee handbook. In the handbook, document specific conflicts that might arise.
For example, a drug company may give a doctor’s office free calendars, pens, posters, and clipboards to advertise their services. A snack company might offer a free vending machine to a school. The school will then be required to buy their brand of snacks. A company may take you out to dinner in order to persuade you to hire them. This is considered a gift as well, even though you may have rejected their offer. Creating policies for giving and receiving gifts. Most companies identify a maximum value for such transactions.
If Bob is hiring you to sue Allison, you should check to make sure that Allison is not a current or former client.
If you served as a witness to a trial where Bob was accused, then you should consider the possibility of a conflict and its impact upon your existing and potential client relations.
Always inform the firm when you become aware of a potential conflict through a relative. However, no firm expects its employees to disclose every instance which might arise in the future as a conflict.
If you and a relative are both lawyers, it is generally considered a conflict of interest for you to represent opposing parties. [8] X Research source A lawyer may represent his or her own relatives, but it is a conflict of interest when the lawyer is representing a party opposing their relatives. Judges should not have any ties to the members of the case. It is standard procedure for a judge to remove themselves from a case if such a conflict arises. If you know their personal or financial interests are at stake and they do not excuse themselves, you may file a formal motion of recusal. [9] X Research source
If Bob is trying to sue Allison, you may find that Allison is a current client. She may want you to defend her against Bob. If Bob is a potential new client, you can still represent Allison. However, if Bob has hired you in the past, you should not represent either Bob or Allison. This does not represent a conflict of interest as you have no relationship with Bob.
Bob is suing Allison. Allison hired you five years ago on an unrelated case. You have not worked for Allison since. You have no personal ties to Allison. You can inform Bob that she is a former client. If he still wants to hire you, get his permission in writing. Always consult your state or local bar for guidelines on what conflicts are acceptable to handle. There may also be varying guidelines on informed consent.
As a patient, be sure to ask for any possible financial connections between the facility and your doctor. Ask if you can choose your own testing facility. As a doctor, research the facility. Even if you yourself do not own it, perhaps another doctor in your practice does. It is considered an ethical conflict of interest to do unnecessary tests on patients for the financial benefit of you or any other doctor.
HIPAA that regulates disclosure of patient data without patient consent.
Do you own the facility where you perform tests? Do you sell any of the equipment that will be used in the procedure? Do you have a business relationship with the testing company? Do you earn any bonuses for prescribing me this medication? Do you sell patient data?
Physicians are bound by medical ethics that require them to disclose potential conflicts of interest. If you cannot trust your doctor by online research and credentials, you should probably go to someone else.
For example, a politician may support lower property taxes for farms in District A. They may own a farm in District A. This is a conflict of interest.
Your department needs new computer systems. They hire a local company. You own a 3% stake in the company. Usually, this would not be a conflict of interest because you do not own enough of the company to profit much off the deal.
Your department needs new computer systems. They hire a local company. You find out that the company is owned by your boss’s husband. This is a conflict of interest.
