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Collaboration vs. Partnership - My Perspective

The term partnership is fast being overtaken by collaboration, it's an often used term in the corporate world and has gained traction, why?  

My belief is that it is a friendlier term than that of partnership, traditionally a partnership is seen as two parties entering an agreement where rules, regulations, out clauses and so on are clearly defined in a framework, this framework, whilst providing security from a legal or output perspective can also be a limiting factor for creativity as there are boundaries that need to be adhered to. 

On the other hand, collaboration is viewed as more a 'working together' towards a common goal where both parties share the same belief system and there are at times, no monetary gains to be had between the two parties.  Collaboration in todays environment could be as simple as shared goals of social media exposure where both parties benefit, where there is no specific revenue target to achieve as such but more a common goal of brand awareness and sharing cross platform exposure.  Don't get me wrong here, a business collaboration can also entail finer points of profit or return, however I'm talking about how I personally view the term Partnership vs. Collaboration.  

For me, being in business in these early days and having other like minded businesses reach out to collaborate has been a tremendous breath of fresh air, personally, there is a more human aspect to the whole collaborative approach that business is taking, more prevalent in the micro and small business phase of the business lifecycle, and I am really enjoying learning from others and sharing knowledge so others can learn.

Would love to hear your thoughts on this, leave a comment below on your take on Partnership vs. Collaboration.