An analysis of the contact mechanics and the forces of interaction in lateral force microscopy measurements is presented, This analysis allows for a new method of interpretation of the frictional forces, the lateral contact stiffness, and the contact shear strength. The technique was developed for the interpretation of frictional data obtained with colloidal probes, although results are presented which illustrate its ability to interpret measurements recorded with both colloidal probes and standard atomic force microscopy tips. The technique is found to compensate for the variations in the contact geometry, giving repeatable results for probes of different sizes. A critical review of other techniques which have been employed to interpret the frictional force in lateral force microscopy is also presented.