Current composite web service development and management solutions, e.g. BPEL, do not cater for flexible and adaptive business collaborations due to their pre-defined and inflexible nature that precludes them accommodating business dynamics. In this paper we propose a rule driven approach for adaptive business collaboration development in which rules drive and govern the development process. We firstly introduce the Business Collaboration Context Framework (BCCF), which provides enterprizes with the context required for business collaboration. We then explain our model driven approach with which enterprises can capture this context in business collaboration models. Subsequently we demonstrate how we utilize rules to drive the development and management of such models, as such facilitating flexible and adaptive business collaboration.