The word "我方" is a compound noun formed by combining the pronoun "我" (wǒ), meaning "I" or "we," with the noun "方" (fāng), which in this context means "side" or "party." It functions as a formal and collective term, literally translating to "our side" or "our party," and is used to refer to oneself or one's own group in a structured context, such as in negotiations, legal documents, debates, or military communications, to clearly distinguish from the opposing side ("對方").