Conflict can arise in virtually any social setting, be it between or within individuals, groups, organizations, or nations. Such conflict can be managed in any of a number of possible ways. These include domination through physical or psychological means, capitulation, inaction, withdrawal, negotiation, or the intervention of a third party. This article explores the latter two approaches to conflict management, first examining two very different models—mutual gains and concession‐convergence—that have emerged for the understanding of negotiation, and then turning to the roles and functions of outside interv