A research and development agreement is one in which two or more companies agree to collaborate in the development of new products or processes. A specialisation agreement is a form of co-operation whereby two or more parties agree to give up manufacture of a particular product and instead obtain it only from the other party, or they agree to have a product manufactured only jointly. Such agreements can, by their very nature, restrict competition. However, they can also benefit consumers, in the form of better and new products and lower prices. The Practice note on Collaborative agreements examines the European Commission's approach to research and development agreements and specialisation agreements, including a review of the R&D and specialisation block exemptions and accompanying guidelines on horizontal co-operation agreements, as revised in 2010.