Conflicts of interests occur when personal, financial, political and academic concerns co-exist and the potential exists for one interest to be illegitimately favoured over another that has equal or even greater legitimacy, in a way that might make other reasonable people feel misled or deceived. Conflicts of interest reside in a situation not in behaviour and may arise even when there has not been research misconduct. Researchers caught in a conflict of interest risk appearing negligent, incompetent or deceptive. There is little clear guidance of when to declare and how to manage competing interests. Conflicts of interest also exist at an institutional level, where research organizations accept funding from sources that may appear to compromise the independence and integrity of their research.