Legal Definitions - negotiated agreement

A negotiated agreement is a resolution that two or more parties come to on their own, usually with the assistance of their lawyers, without the need for formal mediation. It is also known as a negotiated settlement.

For example, if two companies are in a legal dispute over a patent, they may choose to negotiate an agreement outside of court. They may agree to share the patent or come up with a licensing agreement that benefits both parties. This type of agreement can save time and money compared to going to court.

Another example could be a divorce settlement. The couple may choose to negotiate the terms of their divorce, such as child custody and property division, with the help of their lawyers. This can be a less stressful and more amicable way to end a marriage.

Overall, a negotiated agreement is a way for parties to come to a mutually beneficial resolution without the need for formal mediation or court proceedings.