Who decides if a disclosed conflict kills the call?

The buyer, with input from the senior researcher. The decision is documented in the audit trail. Reputable networks won't proceed if the buyer doesn't acknowledge the conflict.

Do experts have to disclose every potential conflict?

Yes for material ones (board seats, advisory, current consulting, material equity, family at company). Minor or speculative conflicts can be flagged for the network's judgment.

Is a former-employee relationship a conflict?

Former employment is the basis for the call, not a conflict. Conflicts are current commercial relationships that could influence what the expert says or hides.

Conflict of Interest

A conflict of interest in expert-network engagements arises when an expert has a current commercial relationship — board seat, advisory role, current consulting engagement, material equity holding — with the company or topic being researched.

Term: Conflict of Interest
Section: Glossary
Last refreshed: Q1 2026

01/In Depth3–5 paragraphs

Conflicts must be disclosed during the per-call attestation. Disclosure does not automatically kill the engagement; some conflicts are minor enough that the call can proceed with the conflict on the record. Others require declining the engagement.

The buyer decides whether to proceed when a conflict is disclosed. Their decision depends on the use case: an investor doing thesis testing may welcome an expert who has board insight; a buyer doing competitive intelligence on the conflict-owning company would decline. Either way, the disclosure must be made.

Beyond direct commercial relationships, networks screen for: family-member conflicts (relatives at the topic company); friendship-based reputational conflicts; recent significant transactions (e.g. expert sold shares in the topic company within 6 months); and category-level reputational risk.

The threshold for material equity disclosure varies by network and use case. Typical thresholds: €50-100k absolute value, or 1% ownership in private companies. Below threshold, equity holdings are not generally required to be disclosed unless they're a material driver of the expert's economic interest.

02/Examples4 concrete cases

+An expert disclosing they sit on the board of the topic company, leading the buyer to decline the call
+An expert disclosing a small equity holding (below threshold) with no impact on call proceeding
+An expert disclosing they consult for the topic company, with the buyer proceeding because thesis testing values insider access
+An expert disclosing a recent share sale in the topic company, with the call cancelled out of caution

03/Frequently Asked3 questions

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04/See AlsoWhere this applies

04.2

INVESTMENT THESIS VALIDATION

Test the assumptions underlying your investment thesis before you commit capital.

05/Related Terms3 suggestions

EXPERT ATTESTATION

An expert attestation is a short pre-call confirmation by the expert that they: (a) hold no Material Non-Public Infor…

COMPLIANCE FRAMEWORK

An expert-network compliance framework is the integrated set of controls a reputable network operates to ensure exper…

CHINESE WALL

A Chinese wall (also called an information barrier) is an internal compartmentalisation regime that separates teams w…

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