A Product Development Agreement (PDA) is a contract that defines the terms and conditions of a product development arrangement between two or more parties. This agreement outlines how each party will collaborate to develop a product, including roles and responsibilities, design specifications, project scheduling, intellectual property rights, and other important details. In addition, the PDA may also cover issues such as warranties, indemnification, and liability for products created under the agreement. From ensuring clear communication to forming a legal record of the collaboration, a Product Development Agreement helps both parties stay on track and realize their goals.