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What is a conflict of interest?

What is a conflict of interest? Here are some definitions.

Noun
  1. (law) A situation in which someone in a position of trust, such as a lawyer, insurance adjuster, a politician, executive or director of a corporation or a medical research scientist or physician, has competing professional or personal interests.
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Examples
The most that can be said is that a state must notify and consult wherever a possible conflict of interest exists.
Deputies will be expected to maintain their private financial affairs properly and to avoid any conflict of interest with their public duties.
He denies any conflict of interest, arguing that his expertise in the area qualifies him to comment.
Maya's conflict of interest between her ideals and her loyalty to her father's magazine fuels a smart episode with a nifty double-reverse plot.
This conflict of interest between big businesses and consumers was starkly demonstrated at a recent international food conference in Dublin.
There has been a fundamental conflict of interest between management and the company's shareholders.

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