You can do this by adjusting the Sharing Settings.
Click on the three-dot menu to the right of your folder or document in your drive. Click on "Share." A new window will pop up that will allow you to change the settings.
Depending on the kind of access you want to give, you can add your collaborator's email address and select either viewer, commenter, or editor (depending on the access they need).
You also have the option at the bottom of the menu to determine the General Access preferences. You have three options:
Restricted (most secure; enter in email addresses individually for people who can access)
Designity (anyone with a Designity email)
Anyone with the link (least secure; anyone with the link can access)