Vested interest - Definition and Overview

Vested interests are people or groups who stand to gain financially from some policy, usually a public policy.

A person can also be said to have a vested interest. For example, a Local Councillor or Member of Parliament may own shares in a company which is being considered for a profitable Public Contract. Elected Representative are usually required to declare all relevant vested interests. Failing to declare any vested interest is seen as corruption. An Elected Representative is a person who has won a democratic election.