A Collaboration Agreement between two companies is a legally binding contract that outlines the terms of an agreement between the two organizations. It sets out the involvement of each company in joint projects, such as sharing knowledge, resources, and services; identifies any benefits or liabilities that result; and sets out the conditions of cooperation. This document sets out the expectations, roles, responsibilities, and commitments of both parties and ensures that each company understands what is involved before moving forward with the project. By signing a Collaboration Agreement, both companies are committing to working together for the benefit of both organizations, thus forming a mutually beneficial partnership.