Collaboration for Revit 2015 + Revit 2015 = DBApplication Error

If you get the following error with the Autodesk A360 Collaboration for Revit 2015 and Revit 2015:

DBApplication "bb3086be-63bb-44bd-99eb-d584c013cf2f" Startup failed because an error occured from OnStartup."

The solution is noted here:

http://knowledge.autodesk.com/support/revit-products/troubleshooting/caas/sfdcarticles/sfdcarticles/Collaboration-in-Revit-External-Tools-Error-when-trying-to-initiate-Collaboration-for-Revit.html

Thanks to the Revit Clinic Guru Chris Aquino for sharing this solution with the community.