give-and-take

[giv-uhn-teyk]
noun
1.
the practice of dealing by compromise or mutual concession; cooperation.
2.
good-natured exchange of talk, ideas, etc.

Origin:
1760–70

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Collins
World English Dictionary
give-and-take
 
n
1.  mutual concessions, shared benefits, and cooperation
2.  a smoothly flowing exchange of ideas and talk
 
vb
3.  to make mutual concessions

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
By a process of mutual give-and-take some prediction is made by each side as to
  what the court is likely to do after full hearing.
Ever growing economic, transportation, and communication networks make this
  global give-and-take possible.
It's a winter photograph, and snow becomes the next topic-a good give-and-take
  conversation.
The habit led sometimes to perilous personalities in the sudden give-and-take
  of table-talk.
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