What is the meaning of `win-win situation’?

In a dispute, there are two parties involved. Usually, one side wins and the other loses. In a win-win situation there are no losers; the result is such that both sides get the impression that they have won. The two sides are happy with the outcome of the dispute; each side feels it has emerged victorious.

Example: It is important that you come up with a win-win situation.

 Source: ‘Know Your English’ ( The Hindu) – May 21, 2007 

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