Industrial relations are the relationship between management and employees or among employees and their organization. Industrial relation deals with either the relationships between the state/the employers and the workers organization or the relation between the occupational organizations themselves. The ILO uses the expression to denote such matters as freedom of association and the protection of the right to organize, the application of the principles of the right to organize, and the right of collective bargaining, collective agreements, conciliation and arbitration and machinery for cooperation between the authorities and the occupational organizations at various levels of the economy. The term Industrial Relations refers to relationship between Management and Labor or among Employees and their organizations that characterize or grow out of employment. Theoretically speaking, there are two parties in the employment relationship-labor and management.