Conflict of interest is heavily intertwined with research. The purpose of this study was to examine the literature and regulations in order to describe efforts required to properly monitor and disclose conflict of interest as researchers become steadily involved in innovation and discovery. The public assumes that when a conflict is disclosed, it means negative or unlawful behavior, but conflict of interest is not always bad. The primary effort should be expended on acknowledging conflicts and being transparent about whatever the conflict entails. To handle conflict of interest in an upfront manner, it is necessary for institutions to maintain strict policies, review conflicts on at least an annual basis, and have guidelines in place to manage the conflict and follow up with ongoing monitoring of the conflicts.