Collaborative law

Collaborative law, also known as collaborative practice, divorce, or family law,^[1] is a legal process through which couples who have decided to separate or end their marriage work together with a team of collaboratively trained professionals including lawyers, divorce coaches, and financial professionals to achieve a settlement that meets the needs of both parties and their children without the need for litigation. The process allows parties to obtain a fair settlement while minimizing the time, cost, uncertainty, and acrimony that can accompany a litigious divorce or separation. Couples initiate this voluntary process by signing a contract (a "participation agreement") binding each other to the process and disqualifying their respective lawyer's right to represent either one in any future family-related litigation.^{[citation needed]}

The collaborative law process can also facilitate a broad range of other family issues including disputes between parents and the drafting of pre- and post-marital (or prenuptial and postnuptial) contracts. Given the oppositional nature of the traditional method of creating pre-marital contracts, many couples prefer to begin their married life with documents drawn up consensually and mutually.^[2]

Collaborative law processes have the added benefit of being cost-efficient for the involved parties. Assigning all the necessary tasks to specialized professionals without duplicating effort reduces costs for the parties.^[3] These cost efficiencies, in addition to other potential benefits, have led parties in other contexts to explore the use of collaborative law to resolve disputes, including M&A transactions.^[4]