Positive feedback: is to appreciate others work and encourage their performance, and saying the parts you liked them or the skills you are impressed on.
Negative feedback: is to improve others performance and help them to achieve their goals. Also giving some suggestions and advices in parts did not do well in them.
How your feedback should be?
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Be timely
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make it regular
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prepare your comments
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Be specific
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Criticize in private
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Use "I" statement
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Limit your focus
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talk about positive too
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provide specific suggestion
How you receive your feedback
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Seek feedback
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Avoid debates
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Listen actively
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Ask for examples
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Do not obsess
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Process your feedback in your own time
Giving feedback in business really important to improve others performance and to avoid anyone to has any business mistakes.
Also you can see this site "http://www.mindtools.com/pages/article/newTMM_98.htm" to learn more information about how you giving and receiving feedback
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