generally, relationship between persons, corporations, states, or countries whereby privileges granted by one are returned by the other.
arrangement between two participants in the producer market who are both buyer and seller to each other. For example, a company providing services to a trade journal may pay for advertising space in the journal with their services. A reciprocity opportunity may persuade a company to choose a less desirable vendor in exchange for sales made to that vendor.
Example: In the absence of reciprocity, Moore must take a new examination to obtain a real estate license in the state to which she moves. With reciprocity she needs only to present her previously earned license.