What is the legal meaning of conflict of interest and conflict of commitment ?
The concepts of conflict of interest and conflict of commitment arise out of the fiduciary duty that an employee owes to his or her employer. All UM employees, whether faculty or staff, owe a fiduciary duty to their employer, the University of Michigan. This means that when we make decisions as UM employees, we must make that decision with the organizational interest of the University as our guide. In a similar fashion, when we accept employment at the University, whether as faculty or staff, we commit ourselves to doing fully the job we accept. When an outside interest or commitment prevents us from fully doing the job we have accepted or prevents us from using only UM s organizational interest in guiding our decisions as employees, there is a conflict of interest or conflict of commitment.
Related Questions
- The technical legal meanings of conflict of interest and commitment seem hard to apply. Does UM have any guidelines on how they are applied at UM?
- Who has to complete the annual Conflict of Interest/Conflict of Commitment declaration?
- What is the legal meaning of conflict of interest and conflict of commitment ?
