Collaborative contracts are agreements designed to foster cooperation between parties rather than focusing solely on legal obligations. They emphasize mutual goals, open communication, and shared risks, which can lead to better project outcomes. This approach is often used in industries like construction and technology, where teamwork is essential for success. These contracts typically include provisions for joint problem-solving and conflict resolution, encouraging parties to work together to address challenges. By prioritizing collaboration, these contracts aim to create a more positive working relationship, ultimately benefiting all involved, including stakeholders and clients.