A conflict of interest is when a person has a vested interest, or when an entity becomes unreliable because of a clash between personal and professional responsibilities. In this video, you'll learn a simple way to understand this concept through an easy and brief explanation. In business, this occurs when a person chooses personal gain over duties to their employer. This is commonly seen in self-dealing. Which is shown when a person accepts a transaction from another organization that harms their company or the company's clients.