When two friends both know so many of each others' secrets that they both know neither one of them will tell, or the other one will tell in revenge. For example: Friend A knows X about friend B, and friend B knows Y about friend A. Therefore, if friend A reveals X, friend B may reveal Y, and vice versa. Thus, the security of their respective secrets is mutually guaranteed. Generally, the secrets in question are of equal or near-equal magnitude. For instance, cheating on a partner might be equivalent to a well-hidden drug habit or closet bulimia, whereas a crush would be a lower magnitude.
Becca told Rachel about her secret crush, and didn't have to worry about her telling, because she had Rachel's secret crush as gossip collateral.
by Amarantha August 30, 2010
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-noun
1. Invoking laughter on an unintended person.
Guy one: "Dude, what are you laughing at?"

Guy two: "I oversaw on this dudes computer, Two Girls One Cup video"

Guy one: "That's not cool, man!"

Guy two: "No man, the dude's reaction! Caused major collateral laughage man!"
by Padenormous February 11, 2011
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The other, unattractive people in a picture or video you're masturbating to
Man, I totally rubbed one out to those shots of Lindsay Lohan topless. Her mom was in the background, though - total collateral fappage.
by Johnny Herp Derp August 12, 2011
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Things you bought when you were shopping for something else
I just went out for a pair of shoes but I spent over $300 on collateral shopping
by Andy Froud May 20, 2007
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The event when a fat ugly chick uses her hot friend in order to get laid.
Damn dude, Sally was fucking awesome in the sack, but I had to give her fugly friend some collateral cock or she wouldn't let me hit it.
by irishpatrick03 July 13, 2008
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This phenomenon occurs when you drop a turd and the impact of the poo on the water sprays your butt-cheeks with a mocha coloured combination of dookie and toilet water. Most of the time collateral damage occurs when slaying diarrhea, since the glugy like substance enters the water at a fast rate thus creating alot of spray. Furthermore collateral damage occurs when taking a huge, but clean and fast individual log that enters the water in such a manner that it creates a fluctuation in water surface sending water particles to your ass. This is a weird sensation and is most effectively avoided by laying a thin layer of toilet paper in the toilet giving your beazley a smooth landing surface. Also this phenomenon can be avoided by dropping a grogan, which is a marvel if achieved since only the strong and the wise can do this.
"My ass is wetter than an indonesian swamp after that collateral damage"

"I just slopped the fattest diarrhea which caused monstrous collateral damage"

"Theres collateral damage all over the bathroom wall after i dropped that insane beazley!"
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When the ex-boyfriend or ex-girlfriend of a friend defriends you after they break up.
- So and so defriended me on Facebook. What did I do wrong? I know they broke up and we weren't really friends, but still, collateral defriending hurts.
by TOHITF April 16, 2011
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