Today, there is increasing emphasis on innovation between large multinationals around the world. Some factors influencing this trend such as the increasing competition, overlapping of industrial boundaries, and shorter cycle of product life have led to the variant trade environment and highlighting innovation in Technological Collaboration. Technological Innovation’s Collaborations (TICs) emphasize on innovation impress as a focal concept in technological collaboration in order to improve innovative capability, change competitors to collaborators, and decrease R&D expenditures. First of all this research has surveyed different related indicators for TIC at petrochemical industry in Iran. Then, each of indicators has been classified and ranked. Having analyzed the literature of TIC along with feedbacks from experts, there are about 20 indicators for TIC in commercial petrochemical company, which have been formed in questionnaire framework. We gathered experts’ opinions by means of these forms. Finally, using some statistical methods like explorative factor analysis and variance analysis, the related indicators were weighted and ranked. These indicators have been ranked based on four dimensions namely characteristics of collaborator, methods of technological collaboration, the size of collaborator’s enterprise, and scientific-research. In this research characteristics of partner are a strong determinant and scored the highest rank. Therefore, learning about the partner with lowest risk and highest efficiency, negotiating with the partner, and developing innovative capabilities are undertaken to make TIC go more flexible and efficient.