Conflict of Interest Disclosure Policy

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  • Provided by TechRepublic Premium
  • Published October 10, 2021
  • Topic TechRepublic Premium
  • Format PDF

Hiring independent contractors to work on specific projects is a commonplace occurrence for many information technology departments. Hiring independent contractors can reduce costs and overhead and save the hiring company money, which can be truly beneficial to both parties.

However, as independent contractors, a company cannot expect to receive the same level of commitment and loyalty as they would with a full-time employee. Companies who hire independent contractors must be prepared for situations where hired workers accept contracts from outside parties, particularly when those contracts overlap with their own.

Simultaneously occurring projects for third parties create an inherent conflict of interest. Companies can either deny independent contractors permission to accept contracts for other projects at the risk of terminating the engagement, or companies can accept the arrangement, but with certain restrictions established by this Conflict of Interest Disclosure Policy.

Purpose

This Conflict of Interest Disclosure Policy, from TechRepublic Premium, establishes the ground rules that will allow a hired consultant to work on another project for another party. Company permission for such a situation is discretionary by the company and is dependent on meeting the requirements of the policy.

This policy can be customized as needed to fit the needs of your organization.

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