What is a conflict of interest?

A conflict of interest is a situation where someone’s personal interests, such as financial or other business interests, conflict with his or her professional duties. This could happen when a person or company is presented with a situation where there is a potential to gain a personal benefit which would at the same time be detrimental to others. In the context of corporate law in Nebraska, this could include a situation where an officer, director or shareholder of a company stands to benefit from a decision that would be detrimental to the company or its shareholders. This could include making decisions about merging with other companies, or approving contracts with companies in which the officer, director or shareholder holds a financial or other interest. It is important that everyone involved in a company or organization should be aware of any potential conflicts of interest and take steps to prevent them from occurring.

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