Negotiations
Settlement refers to an agreement reached by two or more parties during the negotiation process that resolves a dispute or concludes a deal. This resolution often involves compromises from each side, allowing for a mutually acceptable outcome that prevents further conflict. Understanding how settlements work is essential as they can significantly impact the dynamics of negotiations, especially when one party holds more power than the other or in complex negotiation scenarios.
congrats on reading the definition of Settlement. now let's actually learn it.