The Collaborative International Dictionary of English v.0.48:

Neutrality \Neu*tral"i*ty\, n. [Cf. F. neutralit['e].]
   1. The state or quality of being neutral; the condition of
      being unengaged in contests between others; state of
      taking no part on either side; indifference.
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            Men who possess a state of neutrality in times of
            public danger, desert the interest of their fellow
            subjects.                             --Addison.
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   2. Indifference in quality; a state neither very good nor
      bad. [Obs.] --Donne.
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   3. (Chem.) The quality or state of being neutral. See
      Neutral, a., 4.
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   4. (International Law) The condition of a nation or
      government which refrains from taking part, directly or
      indirectly, in a war between other powers.
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   5. Those who are neutral; a combination of neutral powers or
      states.
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   Armed neutrality, the condition of a neutral power, in time
      of war, which holds itself ready to resist by force any
      aggression of either belligerent.
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WordNet (r) 3.0 (2006):

neutrality
    n 1: nonparticipation in a dispute or war
    2: tolerance attributable to a lack of involvement [syn:
       disinterest, neutrality]
    3: pH value of 7