This paper describes the methodology and results of a literature review targeting the distinct interpretations of the Grid Computing paradigm within the context of Collaborative Networks. The review is based on the analysis of contributions published in selected scientific journals between 2002 and today. The analysis was performed taking into account the assumptions, scopes and solutions provided to approach the challenges for SMEs’ collaborative networks. The research questions driving this literature review have been the following: (1) How is the concept of Grid Computing associated with the concept of Collaborative Network? (2) How the Grid computing supports Collaborative Networks? (3) What are the business implications in Grid supported Collaborative Networks?