The crucial feature of collective bargaining is that management's traditional authority to unilaterally establish terms and conditions of employment is replaced by ____________________ negotiations.

A) Equitable
B) Bilateral
C) Competitive
D) Co-lateral

Collective bargaining involves negotiations between labor unions and management, where both parties come together to discuss and agree upon the terms and conditions of employment. In this process, management's traditional authority to unilaterally establish these terms is replaced by bilateral negotiations, where both parties have equal representation and bargaining power. Therefore, option B which suggests bilateral negotiations is the correct answer.