Collaborative product development (CPD) is when two or more firms work together to create and bring a new product to market. In most cases, each company involved brings their expertise to the table, allowing the team to develop a comprehensive and innovative product. CPD arrangements can take many different forms, but all require some trust and communication between the parties involved. When done successfully, CPD can be an effective way to get new products to market quickly and efficiently. However, there are also risks associated with CPD, such as a loss of control over the product or disagreements between the partners. As a result, companies must carefully evaluate whether CPD is suitable for them before entering into any agreements.