Negotiations between the management of a company and the management of a union for the purpose of setting a mutually agreeable contract on wages, fringe benefits and working conditions for all employees in a union is know as

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Collective bargaining is the process of negotiation between a company's management and a union's management to reach a mutually beneficial agreement on wages, benefits, and working conditions for all members of the union. It is a key component of labor relations and often involves intense and prolonged negotiations, sometimes leading to work stoppages or strikes. A closed shop refers to a workplace where only union members are hired, while a union shop requires workers to join the union after a certain period of time. An industrial union represents workers across multiple industries rather than within a single company or sector.

Negotiations Between the Management of a Company and the Management