conflicts of interest

Meanings

• Noun

  A situation in which an individual or organization has competing interests, one of which could possibly corrupt the motivation of the individual or organization.

  - "The CEO's conflicts of interest arose when he owned a large share of the company's competitors."
  - "The politician's conflicts of interest came to light when it was discovered he had business dealings with companies regulated by his committee."

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Variants

List of all variants of conflicts of interest that leads to same result
conflict of interest

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'conflicts of interest' can be traced back to the 16th century, originating from the Latin words 'contradicere' meaning 'to speak against' and 'interesse' meaning 'interest'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Did you know that conflicts of interest are not limited to individuals and organizations, but can also occur in relationships and even within oneself?

2. Conflicts of interest can be mitigated through measures such as transparency, disclosure, and recusal. However, they cannot always be completely eliminated.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. ethics: Conflicts of interest are closely related to ethical considerations, as they involve making decisions that could potentially benefit one interest over another.

2. transparency: Transparency is a key factor in mitigating conflicts of interest, as disclosing potential conflicts can help prevent corrupt motivations and maintain trust.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In literature, conflicts of interest are often portrayed as a source of drama and tension, particularly in political and business contexts. For example, Shakespeare's 'Julius Caesar' explores the consequences of political conflicts of interest.

How to Memorize "conflicts of interest"

1. visualize
   

   - Imagine a scale with one pan representing one interest and the other pan representing a conflicting interest. When the interests are in balance, the scale is level. However, when one interest becomes too heavy, the scale tips, representing a conflict of interest.

2. associate
   

   - Associate the term 'conflicts of interest' with the idea of competing priorities or loyalties that could potentially corrupt motivation.

3. mnemonics
   

   - Create a mnemonic such as 'C-O-I' standing for 'Competing-Interests-Only' to help remember the term.

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