Quote - > Quote - > Quote - > Quote - How this is different from OBJ I'm not sure.

 

OBJ is just geometry.  When properly implemented, COLLADA can also include lighting, rigging, morphs, shaders, keyframes ....

That makes no sense from a business point of view. If I lock you into my file type than you cannot leave and you have to buy my product.

Google COLLADA and read the faqs.

Don't get me wrong. It's a wonderful idea. It just goes counter to the business model I've seen in other software venues, of locking you into a product and never letting you leave without lots of pain.