7. A computer program product in a computer readable storage medium executed by a computer for managing multi-threaded conversations in an instant messaging session, the computer program product comprising: first instructions for receiving a first user input identifying an outgoing message as a new conversation thread in the instant messaging session displayed in an instant messaging window, wherein a user and a recipient have exchanged messages in at least one previous conversation thread during the instant messaging session; second instructions for sending the outgoing message to a recipient; third instructions for displaying the sent message segregated from previous conversation threads in a conversation pane of the instant messaging window, wherein the new conversation thread and previous conversation threads are displayed in a same conversation pane of the instant messaging window; fourth instructions for receiving a second user input comprising selection of a first menu button on the instant messaging window, wherein selection of the first menu button merges conversation threads to form a multi-threaded conversation, and wherein selection of the first menu button displays the merged conversation threads as a single stream of conversation in chronological order in the same conversation pane of the instant messaging window; and fifth instructions for receiving a third user input comprising selection of a second menu button on the instant messaging window, wherein selection of the second menu button segregates the merged conversation threads from within the multi-threaded conversation, and wherein selection of the second menu button displays the segregated conversation threads as separate topics of conversation in the same conversation pane of the instant messaging window.
7. A computer program product in a computer readable storage medium executed by a computer for managing multi-threaded conversations in an instant messaging session, the computer program product comprising: first instructions for receiving a first user input identifying an outgoing message as a new conversation thread in the instant messaging session displayed in an instant messaging window, wherein a user and a recipient have exchanged messages in at least one previous conversation thread during the instant messaging session; second instructions for sending the outgoing message to a recipient; third instructions for displaying the sent message segregated from previous conversation threads in a conversation pane of the instant messaging window, wherein the new conversation thread and previous conversation threads are displayed in a same conversation pane of the instant messaging window; fourth instructions for receiving a second user input comprising selection of a first menu button on the instant messaging window, wherein selection of the first menu button merges conversation threads to form a multi-threaded conversation, and wherein selection of the first menu button displays the merged conversation threads as a single stream of conversation in chronological order in the same conversation pane of the instant messaging window; and fifth instructions for receiving a third user input comprising selection of a second menu button on the instant messaging window, wherein selection of the second menu button segregates the merged conversation threads from within the multi-threaded conversation, and wherein selection of the second menu button displays the segregated conversation threads as separate topics of conversation in the same conversation pane of the instant messaging window. 12. The computer program product of claim 7 , wherein at least one participant in the instant messaging session has a capability to display multiple conversation threads via multiple panes, and at least another participant in the instant messaging session does not have the capability to display multiple conversation threads via multiple panes.