Reciprocity
/rɛsɪˈprɒsɪti/
Definitions
- (n.) The mutual exchange of privileges, rights, or advantages between parties, often between states or legal entities.
The countries agreed to reciprocity in trade tariffs to benefit both economies.
Related terms
See also
Commentary
Reciprocity often appears in international law and contract contexts implying mutual concessions or benefits.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.