Legal Definitions - equivalence of advantages

Equivalence of advantages refers to the mutual concession of benefits or privileges between two parties for the purpose of commercial or diplomatic relations. It is also known as reciprocity or mutuality of benefits.

• When two countries agree to lower tariffs on each other's goods, they are practicing equivalence of advantages.
• If a company offers its employees a certain benefit, such as a gym membership, and in return, the employees agree to work longer hours, this is an example of reciprocity.
• In the field of intellectual property, reciprocity means that a country will only recognize a foreign national's intellectual property rights if that same country would recognize those rights for its own citizens.

These examples illustrate how equivalence of advantages works in different contexts. In each case, both parties are giving up something in order to gain something else. This creates a mutually beneficial relationship where both parties are able to achieve their goals.