Bilaterally Definition

The term ‘bilateral’ refers to two sides or two parties. In business, bilateral agreements are made between two companies or two countries. These types of agreements typically involve trade, investment, or other economic activities.

A bilateral relationship is one in which each party has an equal say and equal weight in the decision-making process. This type of relationship is often seen in business partnerships and marriages. In a bilateral relationship, both parties must be willing to compromise in order to reach a resolution.